Common use of Landlord’s Remedies Clause in Contracts

Landlord’s Remedies. Upon the occurrence of an Event of Default, Landlord, in addition to other rights or remedies it may have, shall have the right to terminate this Lease, or without terminating this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.

Appears in 8 contracts

Samples: Lease Agreement (Hewitt Associates Inc), Lease Agreement (Hewitt Holdings LLC), Lease Agreement (Hewitt Holdings LLC)

AutoNDA by SimpleDocs

Landlord’s Remedies. Upon Landlord shall have the occurrence of an Event of Default, Landlord, following remedies if Tenant commits a default. These remedies are not exclusive; they are cumulative in addition to other rights any remedies now or remedies it may havelater allowed by law. Landlord can continue this Lease in full force and effect after Tenant’s default and abandonment, shall have and the Lease will continue in effect as long as Landlord does not terminate Tenant’s right to terminate this Lease, or without terminating this Lease, terminate Tenant's right to possession of the Demised Premisespossession, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's ’s rights and remedies under the Lease, including the right to recover collect Rent when due. During the period Tenant is in default, Landlord can 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, without limitation, brokers’ commissions, expenses of remodeling the Premises required by the reletting, and like costs. Reletting can be for a period shorter or longer than the remaining Term of this Lease. Tenant shall pay to Landlord the Rent due under this Lease on the dates the Rent is due, less the rent as it becomes due hereunderLandlord receives from any reletting. Should No act allowed by this Section 22.02 shall terminate this Lease unless Landlord elect notifies Tenant that Landlord elects to terminate this Lease. If Landlord elects to relet the Demised Premises or any part thereofas provided in this Section 22.02, Rent that Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such receives from reletting shall be applied to the payment of: first, any indebtedness from Tenant to Landlord other than Rent due from Tenant; second, all costs, including maintenance, incurred by Landlord in such manner reletting; and third, Rent due and unpaid under this Lease. After deducting the payments referred to such parties in this Section, any sum remaining from the Rent Landlord receives from reletting shall be held by Landlord and applied in payment of future Rent as Landlord Rent becomes due under this Lease. In no event shall determine. Should such rentals and other amounts Tenant be entitled to any excess Rent received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to by Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of If, on the Demised Premises by Landlord shall be construed as an election on its part to terminate date Rent is due under this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In Rent received from the event Landlord terminates this Lease in accordance herewithreletting is less than the Rent due on that date, Tenant shall be liable and shall pay to Landlord, in addition to the sum of all rent and other payments owed to date to Landlordremaining Rent due, all sums owed costs, including maintenance, Landlord incurred in reletting that remain after applying the Rent received from the reletting as provided in this Section 22.02. Landlord can terminate Tenant’s right to date possession of the Premises at any time. No act by Landlord other than giving notice to third parties Tenant shall terminate this Lease. Acts of maintenance, efforts to relet the Premises or the appointment of a receiver on Landlord’s initiative to protect Landlord’s interest under this Lease shall not constitute a termination of Tenant’s right to possession. On termination, Landlord has the right to recover from Tenant: (including without limitationa) the worth, all Impositionsat the time of the award, of the unpaid rent that had been earned at the time of termination of this Lease; (b) hereunder accrued to the worth, at the time of the award, of the amount by which the unpaid Rent that would have been earned after the date of such termination, all amounts required to be spent by Landlord to fulfill any termination of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute or rule of law in effect at Lease until the time when, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to or less than of award exceeds the amount of the difference referred to above. Notwithstanding the foregoingloss of Rent that Tenant proves could have been reasonably avoided; and (d) any other amount, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts court costs, necessary to compensate Landlord in such event and not otherwise included herein is for all detriment proximately caused by Tenant’s default. “The worth, at the sum time of the principal amount award”, as used in (a) and (b) of this Section 22.02, is to be computed by allowing interest at the maximum rate an individual is permitted by law to charge. “The worth, at the time of the Notes then outstanding plus interest accrued thereon together with award,” as referred to in (c) of this Section 22.02, is to be computed by discounting the Make Whole Amount, less amount at the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions discount rate of the state where Federal Reserve Bank of San Francisco at the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement time of the exercise by Landlord of any award, plus one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Leasepercent (1%).

Appears in 4 contracts

Samples: Union Landing Entertainment Center Lease (Cinemark Holdings, Inc.), Promenade Lease (Cinemark Holdings, Inc.), Union Landing Entertainment Center Lease (Cinemark Holdings, Inc.)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault 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 haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease, or without terminating this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant the sum of: all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation Base Rent and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) accrued hereunder accrued to the date of such termination; the cost of reletting the whole or any part of the Premises, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination including without limitation brokerage fees and/or leasing commissions incurred by Landlord, plusand costs of removing and storing Tenant's or any other occupant's property, an amount equal repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit a new tenant or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time whentenants, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a all reasonable estimate of such other amounts necessary to compensate expenses incurred by Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid pursuing its remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident ; and the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the enforcement expiration date stated in this Lease, over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury xxxx rate at the date of such termination. If Landlord terminates Tenant's obligations hereunderright of possession (but not this Lease), Landlord may, but shall be under no obligation to, relet the Premises for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant. A receipt For the purpose of such reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of the rental reserved in this Lease for such period or periods, plus the cost of recovering possession of the Premises (including attorneys' fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord of rent with knowledge of to relet the breach of any covenant hereof Premises. If the Premises are relet and a sufficient sum shall not be deemed a waiver realized from such reletting [after first deducting therefrom, for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting, the cost of recovering possession (including attorneys' fees and costs of suit), all of the costs and expense of repairs, changes, alterations, and additions, the expense of such breach, reletting (including without limitation brokerage fees and no waiver by Landlord leasing commissions) and the cost of any provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality collection of the foregoing, no failure by Landlord rent accruing therefrom] to insist upon satisfy the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only rent provided for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease providedto be paid, then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be entitled made upon demand therefor from time to seek a restraint by injunction of the violation or attempted or threatened violation of the covenantstime and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, conditions and provisions of Landlord may at any time thereafter elect in writing to terminate this LeaseLease for such previous breach.

Appears in 3 contracts

Samples: Lease Agreement (Wells Real Estate Investment Trust Inc), Lease Agreement (Burke Industries Inc /Ca/), Lease Agreement (Novellus Systems Inc)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault 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 haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease, Landlord may recover from Tenant the sum of: all Base Rent and all other amounts accrued hereunder to the date of such termination; the cost of reletting the whole or any part of the Premises, including without terminating limitation brokerage fees and/or leasing commissions incurred by Landlord, and costs of removing and storing Tenant’s or any other occupant’s property, repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to a new tenant or tenants, and all reasonable expenses incurred by Landlord in pursuing its remedies, including reasonable attorneys’ fees and court costs; and the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the expiration date stated in this Lease, terminate over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury xxxx rate at the date of such termination. If Landlord terminates Tenant's ’s right to of possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so(but not this Lease), Landlord may, but shall be under no obligation to, relet the Premises for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without prejudice thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant. For the purpose of such reletting Landlord is authorized to make any other remedy it may have for possession repairs, changes, alterations, or arrearage of rentalsadditions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, enter upon and take possession then Tenant shall pay to Landlord as damages a sum equal to the amount of the Demised Premises and expel rental reserved in this Lease for such period or remove Tenant and any other person who may be occupying the Demised Premises or any part thereofperiods, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, plus the cost of recovering possession of the Demised Premises (including attorneys’ fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord to relet the Premises. If the Premises are relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, expenses for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting reletting, the cost of recovering possession (including reasonable renovation attorneys’ fees and alteration costs of suit), all of the Demised Premisescosts and expense of repairs, attorneyschanges, fees, real estate commissionsalterations, and any other sum additions, the expense of money, late charges such reletting (including without limitation brokerage fees and damages. If Tenant's right to possession leasing commissions) and the cost of collection of the Demised Premises is terminated without termination of rent accruing therefrom] to satisfy the Leaserent provided for in this Lease to be paid, then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be entitled made upon demand therefor from time to enforce all of Landlord's rights time and remedies under the Lease, including the right Tenant agrees that Landlord may file suit to recover the rent as it becomes any sums falling due hereunderfrom time to time. Should Landlord elect to relet the Demised Premises or Notwithstanding any part thereofsuch reletting without termination, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord any time thereafter elect in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part writing to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining periodprevious breach. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise 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 remedies should not preclude manner contrary to the simultaneous specific terms, provisions, and covenants of this Lease or later exercise as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord of any to enforce its rights pursuant to this Lease or all other rights at law or remedies. Tenant in equity, shall pay, upon demand, all not be a waiver of Landlord's costs, including reasonable attorneys' fees and court costs, incident ’s right to the enforcement enforce one or more of Tenant's obligations hereunderits rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provisions provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting To the generality greatest extent permitted by law, Tenant waives the service of the foregoingnotice of Landlord’s intention to re-enter as provided for in any statute, no failure or to institute legal proceedings to that end, and also waives all right of redemption in case Tenant shall be dispossessed by Landlord to insist upon the performance a judgment or by warrant of any of the court or judge. The terms of this Lease “enter,” “re-enter,” “entry” or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of “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 no express waiver shall affect any default other conditions as Landlord in its sole discretion may determine (including without limitation a term different than the default specified in remaining Lease Term, rental concessions, alterations and repair of the express waiver Premises, lease of less than the entire Premises to any tenant and that only for leasing any or all other portions of the time and to Project before reletting the extent therein statedPremises). One or more waivers by Landlord shall not be construed as a waiver 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 a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Leasesuch reletting.

Appears in 3 contracts

Samples: Lease Agreement (Ufp Technologies Inc), Lease Agreement (Liquidity Services Inc), Lease Agreement (Brooks Automation Inc)

Landlord’s Remedies. Upon 32. If this Lease shall be terminated, as provided hereinabove: The Landlord may immediately, or any time thereafter, re-enter and resume possession of the occurrence demised premises and remove all persons and property therefrom either by summary dispossess proceedings or by a suitable action or proceeding at law or in equity, or by force or otherwise without being liable for any damages therefor. No re-entry by the Landlord shall be deemed an acceptance of an Event a surrender of Defaultthis Lease. The Landlord may re-let the whole or any part of the demised premises for a period equal to, or greater, or less than the remainder of the then term of this Lease, at such rental and upon such terms and concessions as the Landlord, shall deem reasonable, to any Tenant or Tenants which it may deem suitable and satisfactory for any use and purpose which it may deem appropriate. In no event shall the Landlord be liable in any respect for failure to re-let the demised premises or in the event of such re-letting for failure to collect the rent thereunder. Any sums received by the Landlord on a re-letting in excess of the rent reserved in this Lease shall belong to the Landlord. In addition to any other rights or remedies it remedy which may have, shall have the right to terminate this Lease, or without terminating this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do sobe available, Landlord may, without prejudice in the event of a breach or threatened breach on the part of the Tenant with respect to any other remedy it may have for possession or arrearage of rentals, enter upon and take possession of the Demised Premises and expel covenants, agreements, terms, provisions or remove conditions on the part of or on behalf of Tenant and any other person who may to be occupying the Demised Premises kept, observed or any part thereof, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such eventperformed, Landlord shall also have the right of injunction. The specified remedies to which Landlord may resort hereunder are cumulative and are not intended to be exclusive of any other remedies or means of redress to which Landlord may lawfully be entitled to recover from at any time, and Landlord may invoke any remedy allowed at law or in equity as if specific remedies were not herein provided for. Tenant all reasonable damages incurred hereby waives a trial by Landlord jury in any action, proceeding or counterclaim brought by reason of such Event of Default, including without limitation, the cost of recovering possession either of the Demised Premises, expenses parties hereto against the other on any matter whatsoever arising out of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and or in any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection way connected with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice the relationship of such intention be given to Tenant Landlord and Tenant, Tenant's use or unless occupancy of the termination thereof be decreed by a court leased premises, and/or any claim of competent jurisdictioninjury or damage. In the event Landlord terminates this Lease in accordance herewithcommences any proceedings for non-payment of rent, Tenant shall be liable and not interpose any counterclaim of whatever nature or description in any such proceedings. This shall pay to Landlordnot, the sum of all rent and other payments owed to date to Landlordhowever, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term Tenant's right to assert such claims in any separate action or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint actions brought by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this LeaseTenant.

Appears in 2 contracts

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

Landlord’s Remedies. Upon If Tenant shall be in default under any provision of this Lease and shall remain so for monetary defaults for a period of ten (10) days after written notice to Tenant of such default, and for all other defaults for a period of thirty (30) days after written notice to Tenant of such default, then Landlord may, by giving a second written notice to Tenant, at any time thereafter during the occurrence continuance of an Event of Defaultsuch default, Landlord, in addition to other rights or remedies it may have, shall have the right to either (a) terminate this Lease, or without terminating this Lease(b) re-enter the demised premises by summary proceedings or otherwise, terminate Tenant's right expel Tenant and remove all property there from, use commercially reasonable efforts to relet said premises expeditiously at market rent and receive the rent there from. If the Lease is hot terminated, Tenant shall remain liable for all Annual Rent and Additional Rent reserved herein less the avails of reletting, if any, after deducting there from the reasonable cost of obtaining possession of the Demised Premises, demised premises and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of any repairs and alterations necessary to prepare it for reletting including as well as any commercially reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received commissions paid by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for amortized over the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless ). Any and all monthly deficiencies so payable by Tenant has extended this Lease, in which case such calculation shall be as if the term expires paid monthly on the final day date herein provided for the payment of Annual Rent. If any default by Tenant (other than payment of Annual or Additional Rent) cannot reasonably be remedied within thirty (30) days after written notice of default, then Tenant shall have such additional time as shall be reasonably necessary to remedy such default before this Lease can be terminated or other remedy enforced by Landlord, but only so long as the Extension Term then in effect, less (ii) Tenant shall be promptly and diligently pursuing the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason cure of such expiration or terminationdefault, an amount equal to with the maximum allowed by any statute or rule termination of law in effect at the time when, such promptness and governing the proceedings in which, such damages are diligence to be proved, whether or not such amount be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this LeaseLandlord’s reasonable discretion.

Appears in 2 contracts

Samples: Ground Lease (Peak Resorts Inc), Ground Lease (Peak Resorts Inc)

Landlord’s Remedies. Upon each occurrence of an Event of Default and so long as such Event of Default shall be continuing, Landlord may at any time thereafter at its election terminate this Lease or Tenant's right of possession (but Tenant shall remain liable as hereinafter provided), and/or pursue any other remedies at law or in equity. Upon the occurrence 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 reenter 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. If Landlord terminates this Lease as a result of an Event of Default, Landlord, in addition to other rights or remedies it Landlord may have, shall have the right to terminate this Lease, or without terminating this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant the sum of: (i) all reasonable damages incurred by Landlord by reason of such Event of DefaultBase Rent, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation Additional Rent and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) accrued hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less ; (ii) the fair market rental value cost of reletting the whole or any part of the Demised Premises, including without limitation, brokerage fees and/or leasing commissions incurred by Landlord, costs of removing and storing Tenant's or any other occupant's property, costs of repairing, altering, remodeling, or otherwise putting the Premises for such remaining period. Nothing herein contained shall limit into condition acceptable to a new tenant or prejudice the right of Landlord to prove for and obtain, as damages tenants; (iii) all reasonable expenses incurred by reason of such expiration or 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid pursuing its remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to ; and (iv) the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent with knowledge then present value of the breach of any covenant hereof shall not Base Rent Additional Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be deemed a waiver of such breach, and no waiver paid by Tenant to Landlord of any provisions during the period following the termination of this Lease measured from the date of such termination to the expiration date stated in this Lease. Such present value shall be deemed calculated at a discount rate equal to have been made unless expressed the 90-day U. S. Treasury xxxx rate at the date of such termination. If Landlord terminates Tenant's right of possession (but not this Lease), Landlord may, but shall be under no obligation to, relet the Premises for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant. For the purpose of such reletting Landlord is authorized to make any repairs, changes, alterations, or additions in writing and signed by Landlordor to the Premises as Landlord deems reasonably necessary or desirable without notice to Tenant. Without limiting If the generality Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies Rent reserved in this Lease providedfor such period or periods, plus the cost of recovering possession of the Premises (including attorneys' fees and costs of suit), the unpaid Base Rent, Additional Rent and other amounts accrued hereunder at the time from time to time. Notwithstanding any such reletting without termination, Landlord shall be entitled may at any time thereafter elect in writing to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of terminate this LeaseLease for such previous breach.

Appears in 2 contracts

Samples: Lease (Blue Rhino Corp), Lease (Blue Rhino Corp)

Landlord’s Remedies. Upon In the occurrence event of an Event of a Tenant's Default, Landlord, in addition to other rights or remedies it may have, Landlord shall have the right to terminate this Lease, Lease or without terminating this Lease, terminate Tenant's right to possession possession. Upon receipt of the Demised Premises, and in either event a notice of termination Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Landlord. If Tenant fails to do sosurrender the Premises, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, enter upon and take possession of the Demised Premises Premises, in compliance with law. Notwithstanding the foregoing, the Tenant shall pay Landlord all past due Rent and expel or remove Tenant other damages, losses and any other person who may be occupying the Demised Premises or any part thereof, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred expenses suffered by Landlord by reason as a result of such Event of Tenant's Default. Those costs and expenses shall include the costs and expenses incurred in reletting or attempting to relet the Premises, including without limitationreasonable attorneys' fees, brokerage fees, the cost of recovering possession physical alterations to the Premises and the reasonable value of other allowances or concessions granted to a new tenant. The Landlord has the right to collect all rents and other payments from any reletting. The Landlord shall not be responsible or liable for any delay or inability to relet all or part of the Demised PremisesPremises or for the failure to collect any rent. In lieu of determining damages as described above, expenses of reletting including reasonable renovation and alteration of Landlord may elect to receive as damages the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If a) all Rent accrued through the date of termination of this Lease or of Tenant's right to possession possession, and b) an amount equal to the total Rent that Tenant would have been required to pay for the remainder of the Demised Term discounted to present value, minus the then present fair rental value of the Premises for the remainder of the Term, comparably discounted, after deducting all anticipated costs of reletting. If Tenant is terminated without termination in default of any of the non-financial duties under the Lease, Landlord shall be entitled have the right to enforce all perform such duties. Upon demand, Tenant shall reimburse Landlord for the cost of such performance plus an administrative fee equal to ten percent (10%) of the cost of the work performed. Termination of Tenant's Lease or right to possession or Landlord's rights entry on all or part of the Premises shall not relieve Tenant of its duties and remedies liabilities under the Lease, including the . Each right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession remedy of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease separate and in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other right and remedy now available or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.

Appears in 2 contracts

Samples: Form Commercial Lease, Form Commercial Lease

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault 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 haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease, or without terminating this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant the sum of: all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation Base Rent and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) accrued hereunder accrued to the date of such termination; the cost of reletting the whole or any part of the Premises, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination including without limitation brokerage fees and/or leasing commissions incurred by Landlord, plusand costs of removing and storing Tenant's or any other occupant's property, an amount equal repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit a new tenant or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time whentenants, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a all reasonable estimate of such other amounts necessary to compensate expenses incurred by Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid pursuing its remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident ; and the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the enforcement expiration date stated in this Lease, over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury bill xxxe at the date of such termination. If Landlord terminates Tenant's obligations hereunderright of possession (but not this Lease), Landlord may, but shall be under no obligation to, relet the Premises for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant. A receipt For the purpose of such reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of the rental reserved in this Lease for such period or periods, plus the cost of recovering possession of the Premises (including attorneys' fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord of rent with knowledge of to relet the breach of any covenant hereof Premises. If the Premises are relet and a sufficient sum shall not be deemed a waiver realized from such reletting [after first deducting therefrom, for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting, the cost of recovering possession (including attorneys' fees and costs of suit), all of the costs and expense of repairs, changes, alterations, and additions, the expense of such breach, reletting (including without limitation brokerage fees and no waiver by Landlord leasing commissions) and the cost of any provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality collection of the foregoing, no failure by Landlord rent accruing therefrom] to insist upon satisfy the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only rent provided for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease providedto be paid, then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be entitled made upon demand therefor from time to seek a restraint by injunction of the violation or attempted or threatened violation of the covenantstime and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, conditions and provisions of Landlord may at any time thereafter elect in writing to terminate this LeaseLease for such previous breach.

Appears in 2 contracts

Samples: Lease Agreement (Cohesant Technologies Inc), Lease Agreement (Brightpoint Inc)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault 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 reenter the Premises by summary dispossession proceedings or any other rights action or remedies it may haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease, or without terminating this LeaseLandlord may recover from Tenant the sum of: (i) all Base Rent, terminate Tenant's right Additional Rent and all other amounts accrued hereunder to possession the date of such termination; (ii) the Demised Premises, and in either event Tenant shall immediately surrender possession cost of reletting the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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 whole or any part thereof, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of Defaultthe Premises, including without limitation, brokerage fees and/or leasing commissions incurred by Landlord, costs of removing and storing Tenant’s or any other occupant’s property, costs of repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to a new tenant or tenants; (iii) all reasonable expenses incurred by Landlord in pursuing its remedies, including reasonable attorneys’ fees and court costs; and (iv) the then present value of the Base Rent, Additional Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the expiration date stated in this Lease, less any amounts reasonably obtained by Landlord as a result of mitigation pursuant to Legal Requirements. Such present value shall be calculated at a discount rate equal to the 90-day U. S. Treasury bxxx rate at the date of such termination. If Landlord terminates Tenant’s right of possession (but not this Lease), Landlord may, but shall be under no obligation to, relet the Premises for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant. For the purpose of such reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable without notice to Tenant. If the Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of the Rent reserved in this Lease for such period or periods, plus the cost of recovering possession of the Demised PremisesPremises (including attorneys’ fees and costs of suit), expenses of the unpaid Base Rent, Additional Rent and other amounts accrued hereunder at the time from time to time. Notwithstanding any such reletting including reasonable renovation and alteration of without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Any law, usage, or custom to the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Leasecontrary notwithstanding, Landlord shall be entitled have the right at all times to enforce all the provisions of Landlord's this Lease in strict accordance with the terms hereof. The failure of Landlord at any time to enforce its rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord this Lease strictly in connection accordance with such reletting same shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall not be construed as an election on its part having created a custom in any way or manner contrary to terminate this Leasethe specific terms, unless a written notice provisions, and covenants of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, or as having modified the same. Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent Landlord further agree that forbearance or waiver by Landlord to fulfill any enforce its rights pursuant to this Lease or at law, or in equity, shall not be a waiver of Tenant's obligations which Tenant did not fulfill prior Landlord’s right to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any enforce one or more of such its rights or remedies should not preclude the simultaneous or later exercise by Landlord of in connection with any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereundersubsequent 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 provisions provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting To the generality greatest extent permitted by law, Tenant waives the service of the foregoingnotice of Landlord’s intention to re-enter as provided for in any statute, no failure or to institute legal proceedings to that end, and also waives all right of redemption in case Tenant shall be dispossessed by Landlord to insist upon the performance a judgment or by warrant of any of the court or judge. The terms of this Lease “enter,” “reenter,” “entry” or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of “re-entry,” as used in this Lease, are not restricted to their technical legal meanings. Any reletting of the Premise shall be on such terms and no express waiver shall affect any default other conditions as Landlord in its sole discretion may determine (including, without limitation, a term different than the default specified in remaining Lease Term, rental concessions, alterations and repair of the express waiver Premises, lease of less than the entire Premises to any tenant and that only for leasing any or all other portions of the time and to Project before reletting the extent therein statedPremises). One or more waivers by Landlord shall not be construed as a waiver 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 a subsequent breach of such reletting. Notwithstanding the same covenant, term or condition. In addition to other remedies in this Lease providedforegoing, Landlord shall be entitled use reasonable efforts to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Leasemitigate its damages in accordance with Legal Requirements.

Appears in 2 contracts

Samples: Lease (Ulta Salon, Cosmetics & Fragrance, Inc.), Lease (Ulta Salon, Cosmetics & Fragrance, Inc.)

Landlord’s Remedies. Upon the occurrence of If there shall be an Event of Default, Landlord, in addition to other rights or remedies it may have, then Landlord shall have the right right, at its sole option, to terminate this LeaseLease upon five (5) days prior written notice to Tenant. In addition, with or without terminating this Lease, Landlord may re-enter, terminate Tenant's ’s right to of possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, enter upon and take possession of the Demised Premises and expel or remove Tenant and Premises. The provisions of this Article shall operate as a notice to quit, any other person who notice to quit or of Landlord’s intention to re-enter the Premises being hereby expressly waived. If necessary, Landlord may proceed to recover possession of the Premises under and by virtue of the laws of Massachusetts, or by such other proceedings, including re-entry and possession, as may be occupying applicable. If Landlord elects to terminate this Lease and/or elects to terminate Tenant’s right of possession, then everything contained in this Lease to be done and performed by Landlord shall cease, without prejudice, however, to Landlord’s right to recover from Tenant all rent and other sums accrued through the Demised later of termination or Landlord’s recovery of possession. Whether or not this Lease and/or Tenant’s right of possession is terminated, Landlord may, but shall not be obligated to, relet the Premises or any part thereof, alone or together with or without legal proceedingsother premises, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals rent and upon such other terms and conditions as Landlord (which may deem appropriate. Rental include concessions or free rent and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession alterations of the Demised Premises by Landlord shall be construed Premises) as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlordin its sole discretion, all sums owed to date to third parties (including without limitationmay determine, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of liable for, nor shall Tenant’s obligations be diminished by reason of, Landlord’s failure to relet the same covenant, term Premises or conditioncollect any rent due upon such reletting. In addition to other remedies in Whether or not this Lease providedis terminated, Tenant nevertheless shall remain liable for any Annual Fixed Rent, Additional Rent or damages which may be due or sustained prior to such default, all costs, fees and expenses (including without limitation reasonable attorneys’ fees, brokerage fees and expenses incurred in placing the Premises in first-class rentable condition) incurred by Landlord in pursuit of its remedies and in renting the Premises to others from time to time. Tenant shall also be liable for additional damages which at Landlord’s election shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.either:

Appears in 2 contracts

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

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault 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 haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease, or without terminating this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant the sum of: all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation Base Rent and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) accrued hereunder accrued to the date of such termination; the cost of reletting the whole or any part of the Premises, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination including without limitation brokerage fees and/or leasing commissions incurred by Landlord, plusand costs of removing and storing Tenant's or any other occupant's property, an amount equal repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit a new tenant or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time whentenants, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a all reasonable estimate of such other amounts necessary to compensate expenses incurred by Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid pursuing its remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident ; and the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the enforcement expiration date stated in this Lease, over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury xxxx rate at the date of such termination. If Landlord terminates Tenant's obligations hereunderright of possession (but not this Lease), Landlord may, but shall be under no obligation to, relet the Premises for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant. For the purpose of such reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of the rental reserved in this Lease for such period or periods, plus the cost of recovering possession of the Premises (including attorneys' fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord to relet the Premises. If the Premises are relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting, the cost of recovering possession (including attorneys' fees and costs of suit), all of the costs and expense of repairs, changes, alterations, and additions, the expense of such reletting (including without limitation brokerage fees and leasing commissions) and the cost of collection of the rent accruing therefrom] to satisfy the rent provided for in this Lease to be paid, then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be made upon demand therefor from time to time and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance of surrender of the Premises and/or a termination of this Lease by Landlord, whether by agreement or by operation of law, it being understood that such surrender and/or termination can be effected only by the written agreement of Landlord and Tenant. Any law, usage, or custom to the contrary notwithstanding, Landlord shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Landlord at any time to enforce its rights under this Lease strictly in accordance with same shall not be construed as having created a custom in any way or manner contrary to the specific terms, provisions, and covenants of this Lease or as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord to enforce its rights pursuant to this Lease or at law or in equity, shall not be a waiver of Landlord's right to enforce one or more of its rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provisions provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting To the generality greatest extent permitted by law, Tenant waives the service of the foregoingnotice of Landlord's intention to re-enter as provided for in any statute, no failure or to institute legal proceedings to that end, and also waives all right of redemption in case Tenant shall be dispossessed by Landlord to insist upon the performance a judgment or by warrant of any of the court or judge. The terms of this Lease "enter," "re-enter," "entry" or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of "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 no express waiver shall affect any default other conditions as Landlord in its sole discretion may determine (including without limitation a term different than the default specified in remaining Lease Term, rental concessions, alterations and repair of the express waiver Premises, lease of less than the entire Premises to any tenant and that only for leasing any or all other portions of the time and to Project before reletting the extent therein statedPremises). One or more waivers by Landlord shall not be construed as a waiver 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 a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Leasesuch reletting.

Appears in 2 contracts

Samples: Lease Agreement (Winsonic Digital Media Group LTD), Lease Agreement (Adams Golf Inc)

Landlord’s Remedies. Upon The Landlord shall have the occurrence following remedies if Tenant commits a default under this Lease. These remedies are not exclusive but are cumulative and in addition to any remedies now or hereafter allowed by law. Landlord can continue this Lease in full force and effect, and the Lease will continue in effect so long as Landlord does not terminate Tenant's right to possession, and the Landlord shall have the right to collect rent when due. During the period that Tenant is in default, Landlord can enter the Premises and relet them, or any part of an Event them, to third parties for Tenant's account. Tenant shall be liable immediately to the Landlord for all costs the Landlord incurs in reletting the Premises, including, without limitation, brokers' commissions, expenses of Defaultremodeling the Premises required by the reletting, and like costs. Reletting can be for a period shorter or longer than the remaining term of this Lease. 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. No act by Landlord allowed by this paragraph shall terminate this Lease unless Landlord notifies Tenant that Landlord elects to terminate this Lease. After Tenant's default and for so long as Landlord has not terminated Tenant's right to possession of the Premises, if Tenant obtains Landlord's consent, Tenant shall have the right to assume or sublet its interest in the Lease, but Tenant shall not be released from liability. Landlord's consent to the proposed assignment or subletting shall not be unreasonably withheld. If Landlord elects to relet the Premises as provided in this paragraph, any rent that Landlord receives from such reletting shall apply first to the payment of any indebtedness from Tenant to Landlord other than the rent due from Tenant to Landlord; secondly, to all costs, including maintenance, incurred by Landlord in such reletting; and third, to any rent due and unpaid under this Lease. After deducting the payments referred to in this paragraph, any sum remaining from the rent Landlord receives from such reletting shall be held by Landlord and applied in payment of future rent as rent becomes due under this Lease. In no event 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 other rights or remedies it may havethe remaining rent due, all costs, including maintenance, that Landlord shall have incurred in reletting that remain after applying the right to terminate rent received from reletting as provided in this Leaseparagraph. Landlord can, or without terminating this Leaseat its option, terminate Tenant's right to possession of the Demised Premises at any time. No act by Landlord other than giving written notice to Tenant shall terminate this Lease. Acts of maintenance, efforts to relet the Premises, and or the appointment of a receiver on Landlord's initiative to protect Landlord's interest in either event Tenant this Lease shall immediately surrender possession not constitute a termination of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession possession. In the event of the Demised Premises is terminated without termination of the Leasesuch termination, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including has the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.:

Appears in 2 contracts

Samples: Commercial Lease (Hit Entertainment Inc), Commercial Lease (Hit Entertainment Inc)

Landlord’s Remedies. Upon The Landlord shall have the occurrence of an Event of Default, Landlord, following remedies if Tenant commits a default under this Lease. These remedies are not exclusive but are cumulative and in addition to other rights any remedies now or remedies it may havehereafter allowed by law. (1) Landlord can continue this Lease in full force and effect, and the Lease will continue in effect so long as Landlord does not terminate Tenant's right to possession, and the Landlord shall have the right to collect rent when due. During the period that Tenant is in default, Landlord can enter the Premises and relet them, or any part of them, to third parties for Tenant's account. Tenant shall be liable immediately to the Landlord for all costs the Landlord incurs in reletting the Premises, including, without limitation, broker's commissions, expenses of remodelling the Premises required by the reletting, and like costs. Reletting can be for a period shorter or longer than the remaining term of this Lease. 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. No act by Landlord allowed by this paragraph shall terminate this Lease, or without terminating Lease unless Landlord notifies Tenant that Landlord elects to terminate this Lease, terminate lease. After tenant's default and for so long as Landlord has not terminated Tenant's right to possession of the Demised Premises, and in either event if Tenant obtains Landlord's consent, Tenant shall immediately surrender possession have the right to assign or sublet its interest in the Lease, but Tenant shall not be released from liability. Landlord's consent to the proposed assignment or subletting shall not be unreasonably withheld. (2) If Landlord elects to relet the Premises as provided in this paragraph, any rent that Landlord receives from such reletting shall apply first to the payment of the Demised Premises any indebtedness from Tenant to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, enter upon and take possession of than the Demised Premises and expel or remove Tenant and any other person who may be occupying the Demised Premises or any part thereof, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover rent due from Tenant to Landlord; secondly, to all reasonable damages costs, including maintenance, incurred by Landlord by reason of in such Event of Defaultreletting; and third, including without limitationto any rent due and unpaid under this Lease. After deducting the payments referred to in this paragraph, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover remaining from the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with receives from such reletting shall be held by Landlord and applied in such manner and payment of future rent as rent becomes due under this Lease. In no event shall tenant be entitled to such parties as Landlord shall determine. Should such rentals and other amounts any excess rent received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to by Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of If, on the Demised Premises by Landlord shall be construed as an election on its part to terminate date rent is due under this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.received

Appears in 2 contracts

Samples: Easyriders Inc, Easyriders Inc

Landlord’s Remedies. Upon The Landlord shall have the occurrence following remedies if Tenant commits a default under this Lease. These remedies are not exclusive but are cumulative and in addition to any remedies now or hereafter allowed by law. Landlord can continue this Lease in full force and effect, and the Lease will continue in effect so long as Landlord does not terminate Tenant’s right to possession, and the Landlord shall have the right to collect rent when due. During the period that Tenant is in default, Landlord can enter the Premises and relet them, or any part of an Event them, to third parties for Tenant’s account. Tenant shall be liable immediately to the Landlord for all costs the Landlord incurs in reletting the Premises, including, without limitation, brokers’ commissions, expenses of Defaultremodeling the Premises required by the reletting, and like costs. Reletting can be for a period shorter or longer than the remaining term of this Lease. 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. No act by Landlord allowed by this paragraph shall terminate this Lease unless Landlord notifies Tenant that Landlord elects to terminate this Lease. After Tenant’s default and for so long as Landlord has not terminated Tenant’s right to possession of the Premises, if Tenant obtains Landlord’s consent, Tenant shall have the right to assume or sublet its interest in the Lease, but Tenant shall not be released from liability. Landlord’s consent to the proposed assignment or subletting shall not be unreasonably withheld. If Landlord elects to relet the Premises as provided in this paragraph, any rent that Landlord receives from such reletting shall apply first to the payment of any indebtedness from Tenant to Landlord other than the rent due from Tenant to Landlord; secondly, to all costs, including maintenance, incurred by Landlord in such reletting; and third, to any rent due and unpaid under this Lease. After deducting the payments referred to in this paragraph, any sum remaining from the rent Landlord receives from such reletting shall be held by Landlord and applied in payment of future rent as rent becomes due under this Lease. In no event 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 other rights or remedies it may havethe remaining rent due, all costs, including maintenance, that Landlord shall have incurred in reletting that remain after applying the right to terminate rent received from the reletting as provided in this Leaseparagraph. If Tenant is in default and such default is continuing, or without terminating this Lease, Landlord can terminate Tenant's ’s right to possession of the Demised Premises, and in either event Premises at any time at Landlord’s option. No act by Landlord other than giving written notice to Tenant shall immediately surrender possession terminate this Lease. Act of maintenance or efforts to relet the Demised Premises shall not constitute a termination of Tenant’s right to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage thereforpossession. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason the event of such Event termination of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's ’s right to possession of the Demised Premises is terminated without termination of the LeasePremises, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including has the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.:

Appears in 1 contract

Samples: Lease Agreement (Transoma Medical Inc)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault and so long as such Event of Default shall be continuing for more than five (5) days after Landlord has given notice of said default to Tenant, 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 with such demand or notice as is required by this Lease and Illinois Saw, to re-enter the Premises by forcible entry end detainer proceedings or any other rights action or remedies it may haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease, Landlord may recover from Tenant the sum of: all Base Rent and all other amounts accrued hereunder to the date of such termination; the cost of reletting the whole or any part of the Premises, including without terminating limitation brokerage fees and/or leasing commissions incurred by Landlord, and costs of removing and storing Tenant’s or any other occupant’s property, repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to a new tenant or tenants, and all reasonable expenses incurred by Landlord in pursuing its remedies, including reasonable attorneys’ fees and court costs; and the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the expiration date stated in this Lease, terminate over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury bxxx rate at the date of such termination. If Landlord terminates Tenant's ’s right to of possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event(but not this Lease), Landlord shall use commercially reasonable efforts to relet the Premises for the account of Tenant for such rent and upon such terms as shall be entitled satisfactory to recover Landlord without thereby releasing Tenant from Tenant all reasonable damages incurred by Landlord by reason any liability hereunder and without demand or notice of any kind to Tenant. For the purpose of such Event reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of Defaultthe rental reserved in this Lease for such period or periods, including without limitation, plus the cost of recovering possession of the Demised Premises (including attorneys’ fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord to relet the Premises. If the Premises are relet and a sufficient sum shall not be realized from such retelling [after first deducting therefrom, expenses for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting reletting, the cost of recovering possession (including reasonable renovation attorneys’ fees and alteration costs of suit), all of the Demised Premisescosts and expense of repairs, attorneyschanges, fees, real estate commissionsalterations, and any other sum additions, the expense of money, late charges such reletting (including without limitation brokerage fees and damages. If Tenant's right to possession leasing commissions) and the cost of collection of the Demised Premises is terminated without termination of rent accruing therefrom] to satisfy the Leaserent provided for in this Lease to be paid, then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be entitled made upon demand therefor from time to enforce all of Landlord's rights time and remedies under the Lease, including the right Tenant agrees that Landlord may file suit to recover the rent as it becomes any sums falling due hereunderfrom time to time. Should Landlord elect to relet the Demised Premises or Notwithstanding any part thereofsuch reletting without termination, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord any time thereafter elect in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part writing to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining periodprevious breach. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise 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 remedies should not preclude manner contrary to the simultaneous specific terms, provisions, and covenants of this Lease or later exercise as having modified the some. Tenant and Landlord further agree that forbearance or waiver by Landlord of any to enforce its rights pursuant to this Lease or all other rights at law or remedies. Tenant in equity, shall pay, upon demand, all not be a waiver of Landlord's costs, including reasonable attorneys' fees and court costs, incident ’s right to the enforcement enforce one or more of Tenant's obligations hereunderits rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provisions provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality Tenant waives all right of the foregoing, no failure redemption in case Tenant shall be dispossessed by Landlord to insist upon the performance a judgment or by warrant of any of the court or judge. The terms of this Lease “enter,” “re-enter,” “entry” or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of “re-entry,” as used in this Lease, are not restricted to their technical legal meanings. Any reletting of the Premises shall be on commercially reasonable terms and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein statedconditions. One or more waivers by Landlord shall not be construed as a waiver 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 a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Leasesuch reletting.

Appears in 1 contract

Samples: Lease Agreement (Sanfilippo John B & Son Inc)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault 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 haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease, Landlord may recover from Tenant the sum of: all Base Rent and all other amounts accrued hereunder to the date of such termination; the value of the Base Rent for any periods of abated Monthly Base Rent based on the Monthly Base Rent amount that immediately follows such period of abatement; the cost of reletting the whole or any part of the Premises, including without terminating limitation brokerage fees and/or leasing commissions incurred by Landlord, and costs of removing and storing Tenant’s or any other occupant’s property, repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to a new tenant or tenants, and all reasonable expenses incurred by Landlord in pursuing its remedies, including reasonable attorneys’ fees and court costs; and the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the expiration date stated in this Lease, terminate over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury xxxx rate at the date of such termination. If Landlord terminates Tenant's ’s right to of possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so(but not this Lease), Landlord may, but shall be under no obligation to, relet the Premises for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without prejudice thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant. For the purpose of such reletting Landlord is authorized to make any other remedy it may have for possession repairs, changes, alterations, or arrearage of rentalsadditions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, enter upon and take possession then Tenant shall pay to Landlord as damages a sum equal to the amount of the Demised Premises and expel rental reserved in this Lease for such period or remove Tenant and any other person who may be occupying the Demised Premises or any part thereofperiods, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, plus the cost of recovering possession of the Demised Premises (including attorneys’ fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord to relet the Premises. If the Premises are relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, expenses for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting reletting, the cost of recovering possession (including reasonable renovation attorneys’ fees and alteration costs of suit), all of the Demised Premisescosts and expense of repairs, attorneyschanges, fees, real estate commissionsalterations, and any other sum additions, the expense of money, late charges such reletting (including without limitation brokerage fees and damages. If Tenant's right to possession leasing commissions) and the cost of collection of the Demised Premises is terminated without termination of rent accruing therefrom] to satisfy the Leaserent provided for in this Lease to be paid, then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be entitled made upon demand therefor from time to enforce all of Landlord's rights time and remedies under the Lease, including the right Tenant agrees that Landlord may file suit to recover the rent as it becomes any sums falling due hereunderfrom time to time. Should Landlord elect to relet the Demised Premises or Notwithstanding any part thereofsuch reletting without termination, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord any time thereafter elect in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part writing to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining periodprevious breach. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise 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 remedies should not preclude manner contrary to the simultaneous specific terms, provisions, and covenants of this Lease or later exercise as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord of any to enforce its rights pursuant to this Lease or all other rights at law or remedies. Tenant in equity, shall pay, upon demand, all not be a waiver of Landlord's costs, including reasonable attorneys' fees and court costs, incident ’s right to the enforcement enforce one or more of Tenant's obligations hereunderits rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provisions provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting To the generality greatest extent permitted by law, Tenant waives the service of the foregoingnotice of Landlord’s intention to re-enter as provided for in any statute, no failure or to institute legal proceedings to that end, and also waives all right of redemption in case Tenant shall be dispossessed by Landlord to insist upon the performance a judgment or by warrant of any of the court or judge. The terms of this Lease “enter,” “re-enter,” “entry” or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of “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 no express waiver shall affect any default other conditions as Landlord in its sole discretion may determine (including without limitation a term different than the default specified in remaining Lease Term, rental concessions, alterations and repair of the express waiver Premises, lease of less than the entire Premises to any tenant and that only for leasing any or all other portions of the time and to Project before reletting the extent therein statedPremises). One or more waivers by Landlord shall not be construed as a waiver 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 a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Leasesuch reletting.

Appears in 1 contract

Samples: Lease Agreement (Sphere 3D Corp)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault and so long as such Event of Default shall be continuing for more than five (5) days after Landlord has given notice of said default to Tenant, 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 with such demand or notice as is required by this Lease and Illinois law, to re-enter the Premises by forcible entry and detainer proceedings or any other rights action or remedies it may haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease, Landlord may recover from Tenant the sum of: all Base Rent and all other amounts accrued hereunder to the date of such termination; the cost of reletting the whole or any part of the Premises, including without terminating limitation brokerage fees and/or leasing commissions incurred by Landlord, and costs of removing and storing Tenant’s or any other occupant’s property, repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to a new tenant or tenants, and all reasonable expenses incurred by Landlord in pursuing its remedies, including reasonable attorneys’ fees and court costs; and the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the expiration date stated in this Lease, terminate over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury bxxx rate at the date of such termination. If Landlord terminates Tenant's ’s right to of possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event(but not this Lease), Landlord shall use commercially reasonable efforts to relet the Premises for the account of Tenant for such rent and upon such terms as shall be entitled satisfactory to recover Landlord without thereby releasing Tenant from Tenant all reasonable damages incurred by Landlord by reason any liability hereunder and without demand or notice of any kind to Tenant. For the purpose of such Event reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of Defaultthe rental reserved in this Lease for such period or periods, including without limitation, plus the cost of recovering possession of the Demised Premises (including attorneys’ fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord to relet the Premises. If the Premises are relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, expenses for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting reletting, the cost of recovering possession (including reasonable renovation attorneys’ fees and alteration costs of suit), all of the Demised Premisescosts and expense of repairs, attorneyschanges, fees, real estate commissionsalterations, and any other sum additions, the expense of money, late charges such reletting (including without limitation brokerage fees and damages. If Tenant's right to possession leasing commissions) and the cost of collection of the Demised Premises is terminated without termination of rent accruing therefrom] to satisfy the Leaserent provided for in this Lease to be paid, then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be entitled made upon demand therefor from time to enforce all of Landlord's rights time and remedies under the Lease, including the right Tenant agrees that Landlord may file suit to recover the rent as it becomes any sums falling due hereunderfrom time to time. Should Landlord elect to relet the Demised Premises or Notwithstanding any part thereofsuch reletting without termination, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord any time thereafter elect in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part writing to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining periodprevious breach. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise 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 remedies should not preclude manner contrary to the simultaneous specific terms, provisions, and covenants of this Lease or later exercise as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord of any to enforce its rights pursuant to this Lease or all other rights at law or remedies. Tenant in equity, shall pay, upon demand, all not be a waiver of Landlord's costs, including reasonable attorneys' fees and court costs, incident ’s right to the enforcement enforce one or more of Tenant's obligations hereunderits rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provisions provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality Tenant waives all right of the foregoing, no failure redemption in case Tenant shall be dispossessed by Landlord to insist upon the performance a judgment or by warrant of any of the court or judge. The terms of this Lease “enter,” “re-enter,” “entry” or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of “re-entry,” as used in this Lease, are not restricted to their technical legal meanings. Any reletting of the Premises shall be on commercially reasonable terms and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein statedconditions. One or more waivers by Landlord shall not be construed as a waiver 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 a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Leasesuch reletting.

Appears in 1 contract

Samples: Lease Agreement (Sanfilippo John B & Son Inc)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault 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 haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease, or without terminating this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant tenant the sum of: all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation Base Rent and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) accrued hereunder accrued to the date of such termination; the cost of reletting the whole or any part of the Premises, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination including without limitation brokerage fees and/or leasing commissions incurred by Landlord, plusand costs of removing and storing Tenant's or any other occupant's property, an amount equal repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit a new tenant or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time whentenants, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a all reasonable estimate of such other amounts necessary to compensate expenses incurred by Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid pursuing its remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident ; and the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the enforcement expiration date stated in this Lease, over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury xxxx rate at the date of such termination. If Landlord terminates Tenant's obligations hereunderright of possession (but not this Lease), Landlord may, but shall be under no obligation to, relet the Premises for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant. A receipt For the purpose of such reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of the rental reserved in this Lease for such period or periods, plus the cost of recovering possession of the Premises (including attorneys' fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord of rent with knowledge of to relet the breach of any covenant hereof Premises. If the Premises are relet and a sufficient sum shall not be deemed a waiver realized from such reletting (after first deducting therefrom, for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting, the cost of recovering possession (including attorneys' fees and costs of suit), all of the costs and expense of repairs, changes, alterations, and additions, the expense of such breach, reletting (including without limitation brokerage fees and no waiver by Landlord leasing commissions) and the cost of any provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality collection of the foregoing, no failure by Landlord rent accruing therefrom) to insist upon satisfy the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only rent provided for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease providedto be paid, then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be entitled made upon demand therefor from time to seek a restraint by injunction of the violation or attempted or threatened violation of the covenantstime and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, conditions and provisions of Landlord may at any time thereafter elect in writing to terminate this LeaseLease for such previous breach.

Appears in 1 contract

Samples: Lease Agreement (Morgan Products LTD)

Landlord’s Remedies. Upon After the occurrence of an Event of DefaultDefault by Tenant, Landlord, in addition to other rights or remedies it may have, Landlord shall have the right to terminate exercise the following remedies: (a) Landlord may, at its option, continue this LeaseLease in full force and effect, or without terminating this Lease, terminate Tenant's right to possession of the Demised Leased Premises, in which event Landlord shall have the right to collect Basic Rent, Additional Rent, and Non- Rent Monetary Obligations when due. In the alternative. Landlord shall have the right to peaceably re-enter the Leased Premises on the terms set forth in either event Tenant shall immediately surrender possession subparagraph (b) below, but without such re-entry being deemed a termination of the Demised Premises Lease or an acceptance by Landlord of a surrender thereof. Landlord shall also have the right, at its option, from time to Landlord and if Tenant fails to do so, Landlord maytime, without prejudice terminating this Lease, to any other remedy it may have for possession or arrearage of rentalsrelet the Leased Premises, 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, with or without legal proceedingsprocess, as the agent, and for the account, of Tenant upon such terms and conditions as Landlord may deem advisable (which terms may be materially different from the terms of this Lease), in which event the rents received on such reletting shall be applied (i) first to the reasonable and actual expenses of such reletting and collection, including without being liable for prosecution limitation necessary renovation and alterations of the Leased Premises, reasonable and actual attorneys' fees and any reasonable and actual real estate commissions paid, and (ii) thereafter toward payment of all sums due or to become due Landlord hereunder. If a sufficient amount to pay such expenses and sums shall not be realized or secured, then Tenant shall pay Landlord any claim such deficiency monthly, and Landlord may bring an action therefor as such monthly deficiency shall arise. Landlord shall not, in any event, be required to pay Tenant any sums received by Landlord on a reletting of the Leased Premises in excess of the rent provided in this Lease, but such excess shall reduce any accrued present or damage future obligations of Tenant hereunder. Landlord's re-entry and reletting of the Leased Premises without termination of this Lease shall not preclude Landlord from subsequently terminating this Lease as set forth below. (b) Landlord may terminate this Lease by written notice to Tenant specifying a date therefor, which shall be no sooner than thirty (30) days following notice to Tenant, and this Lease shall then terminate on the date so specified as if such date had been originally fixed as the expiration date of the Term. In the event of such eventtermination, Landlord shall be entitled to recover from Tenant the worth at the time of the award of all reasonable damages incurred of the following: (i) Any obligation which has accrued prior to the date of termination, plus, (ii) The amount of unpaid Basic Rent and all other charges which would have accrued after termination until the time of award, plus, (iii) The amount of unpaid rent for the balance of the Term (excluding any option periods or portions thereof not previously exercised). As used in this Section 20(b) the term, "worth at the time of the award", shall be computed by Landlord by reason allowing simple interest at the Default Rate for past due obligations, and employing a discount rate equal to 8.5% on anticipated future obligations, on the amount of the obligations payable on the date of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdictioncalculation. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing terminated as provided above, by summary proceedings or otherwise, Landlord, its agents, servants or representatives may immediately or at any time thereafter peaceably re-enter and signed by Landlord. Without limiting the generality resume possession of the foregoingLeased Premises and remove all persons and property therefrom, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein statedsummary dispossession proceedings. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.(c)

Appears in 1 contract

Samples: Lease Agreement (Beckman Coulter Inc)

Landlord’s Remedies. Upon 1. If Tenant remains on the occurrence Premises after expiration or termination of an Event the Lease without Landlords permission, Landlord may recover possession of Defaultthe Premises in the manner provided for by law. Lxxxxxxx also may recover double rent for the period during which Txxxxx refuses to vacate the Promises. 2. If Tenant defaults under the Lease by failing to pay rent, as set forth in section XIV(B)(1), Landlord may terminate Tenant's rights under the Lease and Tenant shall vacate the Premises immediately. If Tenant defaults under the Lease for any other reason, as set forth in sections XIV(B)(2) or (3) above, Landlord may terminate Tenant's rights under the Lease and Tenant shall vacate the Premises within 7 days of delivery of the notice of termination. 3. If Tenant fails to cure a default within the time specified in the notice to Tenant, Landlord may recover possession of the Premises as provided by law. 4. Landlord shall not recover possession of the Premises except: a in a lawsuit for possession b. when Txxxxx has surrendered possession of the Premises to Landlord; or c. when Txxxxx has abandoned the Premises. Absent actual knowledge of abandonment the Premises shall be considered abandoned if Tenant is absent from them # for at least one-half a Rental Installment Period, the rent is not current, and Tenant has not notified Landlord, in addition to other rights or remedies it may havewriting, shall have of an intended absence 5. If Txxxxx has defaulted under the right to terminate this LeaseLease and Landlord has obtained a writ of possession, or without terminating this Lease, terminate Tenant's right to if Txxxxx has surrendered possession of the Demised Premises to Landlord or it Tenant has abandoned the Premises, Landlord may: a. treat the Lease as terminated, retake possession for Landlords own account and in either event any further liability of Tenant shall immediately surrender will be ended; b. retake possession of the Demised Premises to Landlord and if for Txxxxx's account. Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being will remain liable for prosecution or any claim or damage therefor. In such event, the difference between rent agreed to be paid under the Lease and rent Landlord shall be entitled is able to recover in good faith from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissionsa new tenant; or c. do nothing, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall Tenant will be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover liable for the rent as it becomes due hereundercomes due. Should 6. If Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking retakes possession of the Demised Premises for Txxxxx's account, Landlord must make a good faith effort to re-lease the Premises. Any rent receive, by Landlord as a result of the new lease, shall be construed deducted from the rent due from Tenant For purposes of this section, "good faith" in trying to re-lease the Premises means that Landlord shall use at least the same efforts to re-lease the Premises as an election on its part were used in the initial rental or at least the same efforts as Landlord uses in attempting to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdictionlease other similar property. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by It does not require Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior give a preference in leasing the Premises over other vacant properties that Landlord owns or has the responsibility to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining periodrent. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.C.

Appears in 1 contract

Samples: Coronado Industries Inc

Landlord’s Remedies. Upon (a) In the occurrence event of an Event any material breach of Defaultthis Lease by Tenant, Landlord, then Landlord in addition to other rights or remedies it may have, shall have the right to terminate this LeaseLease upon fifteen (15) days written notice to Tenant, and also the right, with or without terminating termination of this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, enter reentry upon and take taking possession of the Demised Premises and expel or Landlord may remove Tenant all persons and any other person who may be occupying the Demised Premises or any part thereof, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover property from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation ; such property may be removed and alteration of the Demised Premises, attorneys, fees, real estate commissions, and stored in any other sum place in the Building or in any other reasonably secure place for the account of money, late charges and damagesat the expense and risk of Tenant. If Tenant's right to Tenant hereby waives all claims for damages which may be caused by the reentry of Landlord and taking possession of the Demised Premises is terminated without termination of or removing or storing the Leasefurniture and property as herein provided and shall save Landlord harmless from any costs or damages occasioned Landlord thereby, Landlord and no such reentry shall be entitled considered or be construed to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunderbe a forcible entry. Should Landlord elect to reenter, as herein provided, or should it take possession pursuant to legal proceedings or pursuant to any notice provided for by law, Landlord may either terminate this Lease or, Landlord may from time to time, without terminating this Lease, relet the Demised Premises or any part thereof, Landlord may do so thereof for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriatebe reasonable, with the right to make minor alterations and repairs to the Demised Premises. Rental and other amounts received by Landlord in connection with from such reletting shall be applied first to the payment of any costs of such reletting including reasonable brokerage and attorney’s fees; and the residue, if any, shall be held by Landlord and applied in such manner payment of future rent as the same may become due and to such parties as Landlord shall determinepayable hereunder. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations one-twelfth (1/12) of the annual rental reserved hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant Tenant, in which event Tenant’s obligations to Landlord shall forthwith cease, or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.

Appears in 1 contract

Samples: Sublease Agreement (Jazz Pharmaceuticals Inc)

Landlord’s Remedies. For so long as any Event of Default continues (provided that no Event of Default shall occur until the expiration of any applicable cure period set forth in Section 23, above), Landlord may at any time elect to: (a) terminate this Lease, (b) terminate Tenant's right of possession of the Premises (but Tenant shall remain liable as hereinafter provided), and/or (c) pursue any other remedies at law or in equity. Upon the occurrence termination of an Event this Lease, or termination of DefaultTenant's right of possession, LandlordLandlord may, in addition to other rights without formal demand or remedies it may havenotice except as required by Legal Requirements, re-enter the Premises by any action or proceeding authorized by law, and remove Tenant, and all persons and property therefrom. If Landlord re-enters the Premises, Landlord shall have the right to terminate this Leasekeep in place, or without terminating this Leaseremove and store, terminate all property at the Premises at Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor’s expense. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such The term “immediate Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions” as issued in this Lease shall mean Tenant has no cure period, and any other sum Landlord may immediately pursue all of money, late charges and damagesits remedies. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease for an Event of Default as provided in accordance herewiththis Section 24, Landlord may recover from Tenant shall be liable and shall pay to Landlord, the sum of: (a) all Monthly Base Rent, Monthly Taxes, Monthly FOE, and all other amounts payable by Tenant which have accrued as of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination; (b) the value of the Monthly Base Rent for any periods of abated Monthly Base Rent; (c) the reasonable cost of reletting the Premises, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination including the unamortized reasonable and customary brokerage fees and/or leasing commissions incurred by Landlord, pluscosts of removing and storing property, an amount equal repairing or altering the Premises back to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion same condition as of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended Commencement Date under this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less Lease with normal wear and tear excepted; (iid) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages all reasonable expenses incurred by reason of such expiration or 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid pursuing its remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs; and (e) the excess of the then present value of the Monthly Base Rent, incident Monthly Taxes, Monthly FOE, and other amounts payable by Tenant under this Lease applicable to the enforcement period following the termination of this Lease through the Expiration Date, over the present value of any amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises during such period, taking into consideration the availability of acceptable tenants consistent with Landlord’s leasing criteria and other market conditions. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury xxxx rate at the date of the termination. To the extent the Landlord relets the Premises for any of the unexpired Term of the Lease through the Expiration Date, Landlord shall reduce the sums due from Tenant under this paragraph by the amounts received from reletting the Premises. If Landlord terminates Tenant's obligations hereunder. A receipt right to possession (but not this Lease) without terminating the Lease after an Event of Default as provided in this Section 24, Landlord shall use commercially reasonable efforts to relet the Premises without thereby releasing Tenant from any liability hereunder and without demand ; provided, however, (a) Landlord shall diligently seek an alternative tenant, (b) Landlord shall, in good faith, accept any tenant proposed by Tenant whose intended use of the Premises is generally consistent with the Use set forth in Section 4 hereof, (c) Landlord shall have the right to lease any other space controlled by Landlord of rent first with knowledge respect to any prospective tenant other than one proposed by Tenant. Landlord shall have the right to make repairs, changes, alterations, or additions to the Premises to return the Premises back to the same condition as of the breach Commencement Date under this Lease, with normal wear and tear excepted. If the Premises is not relet, then Tenant shall pay to Landlord, as damages, a sum equal to: (1) the Monthly Base Rent, Monthly FOE, and Monthly Taxes payable by Tenant for such period that the Premises has not been relet, plus the reasonable cost incurred to recover possession of the Premises (including reasonable attorneys' fees and court costs); (2) any Monthly Base Rent, Monthly Taxes, Monthly FOE, and other amounts accrued and unpaid at the time of repossession; and (3) the reasonable costs incurred by Landlord’s efforts to relet the Premises. If the Premises is relet, and the total rent and reasonable expenses payable by such replacement tenant (after first deducting any unpaid amounts payable by Tenant which accrued under this Lease, the reasonable cost of recovering possession of the Premises, the reasonable costs of repairs and alterations to the Premises completed by Landlord on Tenant’s behalf, and leasing commissions) is not sufficient to satisfy the total rent and expenses payable by Tenant under this Lease, then Tenant shall within thirty (30) days after Tenant’s receipt of written demand pay any such deficiency to Landlord. Notwithstanding any reletting without termination, Landlord may elect to terminate this Lease for a previous Event of Default at any time upon written notice. To the extent the Landlord relets the Premises for any of the remaining Term of the Lease through the Expiration Date or termination date, Landlord shall reduce the sums due from Tenant under this paragraph by the amounts received from reletting the Premises Landlord’s exercise of any covenant hereof remedies shall not be deemed an acceptance of surrender of the Premises and/or a termination of this Lease, other than Landlord’s election to terminate the Lease. A party’s failure to enforce its rights under this Lease strictly in accordance the terms hereof shall not modify this Lease or create a custom contrary to the specific provisions of this Lease. Tenant and Landlord further agree that forbearance or waiver by a party to enforce its rights pursuant to this Lease, or at law or in equity, shall not waive its rights or remedies in connection with any subsequent Event of such Default or breach, and no . No waiver by Landlord of any provisions of this Lease provision shall be deemed to have been made effective unless expressed in writing and signed by Landlord. Without limiting the generality , even if Landlord accepts Tenant’s payments with knowledge of Tenant’s breach of the foregoingLease. In the event Landlord exercises self-help, no failure or lock-out, remedies as provided by law Tenant waives all claims against Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach for business loss, business interruption, or any of the other damages resulting from Landlord's self-help or lock-out. The terms of "enter," "re-enter," "entry" or "re-entry," as used in this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and are not restricted to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Leasetheir technical legal meanings.

Appears in 1 contract

Samples: Lease (Pfsweb Inc)

Landlord’s Remedies. Upon In the occurrence event of an Event of Defaultany default by Tenant, and without limiting Landlord's right to indemnification as provided in Article 8.2, Landlord shall have the following remedies, in addition to all other rights and remedies provided by law or otherwise provided in this Lease, to which Landlord may resort cumulatively, or in the alternative: Landlord may, at Landlord's election, keep this Lease in effect and enforce, by an action at law or in equity, all of its rights and remedies it may haveunder this Lease including, shall have without limitation, (i) the right to terminate recover the rent and other sums as they become due by appropriate legal action, (ii) the right to make payments required by Tenant, or perform Tenant's obligations and be reimbursed by Tenant for the cost thereof with interest at the then maximum rate of interest not prohibited by law from the date the sum is paid by Landlord until Landlord is reimbursed by Tenant, and (iii) the remedies of injunctive relief and specific performance to prevent Tenant from violating the terms of this Lease and/or to compel Tenant to perform its obligations under this Lease, or without terminating this Leaseas the case may be. Landlord may, at Landlord's election, terminate Tenant's right to possession this Lease by giving Tenant written notice of termination, in which event this Lease shall terminate on the Demised Premisesdate set forth for termination in such notice, and in either which event Tenant shall immediately surrender possession of the Demised Leased Premises to Landlord Landlord, and if Tenant fails to do so, Landlord may, without prejudice to any other remedy which it may have for possession or arrearage of rentalsarrearages in rent, enter upon and take possession of the Demised Leased Premises and expel or remove Tenant and any other person who may be occupying the Demised Leased Premises or any part thereof, with or without legal proceedings, without being liable for prosecution or any claim or damage damages therefor. Any termination under this subparagraph shall not relieve Tenant from its obligation to pay to Landlord all Base Monthly Rent and Additional Rent then or thereafter due, or any other sums due or thereafter accruing to Landlord, or from any claim against Tenant for damages previously accrued or then or thereafter accruing. In such eventno event shall any one or more of the following actions by Landlord, Landlord shall be entitled to recover from Tenant all reasonable damages incurred in the absence of a written election by Landlord to terminate this Lease constitute a termination of this Lease: Appointment of a receiver or keeper in order to protect Landlord's interest hereunder; Consent to any subletting of the Leased Premises or assignment of this Lease by reason Tenant, whether pursuant to the provisions hereof or otherwise; or Any action taken by Landlord or its partners, principals, members, officers, agents, employees, or servants, which is intended to mitigate the adverse effects of such Event any breach of Defaultthis Lease by Tenant, including including, without limitation, any action taken to maintain and preserve the cost Leased Premises on any action taken to relet the Leased Premises or any portion thereof for the account at Tenant and in the name of recovering possession of Tenant. In the Demised event Tenant breaches this Lease and abandons the Leased Premises, expenses Landlord may terminate this Lease, but this Lease shall not terminate unless Landlord gives Tenant written notice of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damagestermination. If Tenant's right to possession Landlord does not terminate this Lease by giving written notice of the Demised Premises is terminated without termination of the Leasetermination, Landlord shall be entitled to may enforce all of Landlord's its rights and remedies under the this Lease, including the right to and remedies provided by California Civil Code Section 1951.4 ("lessor may continue lease in effect after lessee's breach and abandonment and recover the rent as it becomes due hereunder. Should Landlord elect due, if lessee has right to relet sublet or assign, subject only to reasonable limitations"), as in effect on the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession Effective Date of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewithLease, Tenant Landlord shall be liable entitled, at Landlord's election, to the rights and remedies provided in California Civil Code Section 1951.2, as in effect on the Effective Date of this Lease. For purposes of computing damages pursuant to Section 1951.2, an interest rate equal to the maximum rate of interest then not prohibited by law shall pay be used where permitted. Such damages shall include, without limitation: The worth at the time of the award of the unpaid rent which had been earned at the time of termination; The worth at the time of award of the amount by which the unpaid rent for the balance of the term after the time of award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided, computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco, at the time of award plus one percent; and Any other amount necessary to Landlordcompensate Landlord for all detriment proximately caused by Tenant's failure to perform Tenant's obligations under this Lease, or which in the sum ordinary course of all rent and other payments owed things would be likely to date to Landlordresult therefrom, all sums owed to date to third parties (including without limitation, all Impositionsthe following: (i) hereunder accrued expenses for cleaning, repairing or restoring the Leased Premises, (ii) expenses for altering, remodeling or otherwise improving the Leased Premises for the purpose of reletting, including removal of existing leasehold improvements and/or installation of additional leasehold improvements (regardless of how the same is funded, including reduction of rent, a direct payment or allowance to a new tenant, or otherwise), (iii) broker's fees allocable to the date remainder of the term of this Lease, advertising costs and other expenses of reletting the Leased Premises; (iv) costs of carrying and maintaining the Leased Premises, such terminationas taxes, all amounts required to be spent by Landlord to fulfill insurance premiums, utility charges and security precautions, (v) expenses incurred in removing, disposing of and/or storing any of Tenant's obligations which Tenant did personal property, inventory or trade fixtures remaining therein; (vi) reasonable attorney's fees, expert witness fees, court costs and other reasonable expenses incurred by Landlord (but not fulfill prior limited to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (itaxable costs) the total rental payments hereunder for the remaining portion in retaking possession of the term of the LeaseLeased Premises, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as establishing damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time whenhereunder, and governing releasing the proceedings in whichLeased Premises; and (vii) any other expenses, such costs or damages are to be proved, whether otherwise incurred or not such amount be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not suffered as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement result of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Leasedefault.

Appears in 1 contract

Samples: Lease (Cell Genesys Inc)

Landlord’s Remedies. Upon the occurrence happening of an Event any one of Defaultany one or more of the aforementioned Defaults, LandlordLandlord shall have the exclusive right, in addition to any other rights or and remedies it may haveprovided herein, shall have the right to (i) terminate this Lease, Lease by giving Tenant notice to end the term of this Lease at the expiration of seven (7) days after the date of such notice (referred to herein as "Landlord's Notice to Terminate"); or without terminating this Lease, terminate Tenant(ii) permit the Lease to remain in full force and effect (including Landlord's right to possession of the Demised Premisesre-entry to mitigate losses as provided below). If all such Defaults shall not have been cured within said seven (7) days after Landlord's notice to Terminate (issued at Landlord's option), this Lease shall cease and expire, and in either event Tenant shall immediately surrender the Premises to Landlord. Notwithstanding such termination, tenant's liability and obligation under all provisions of this Lease including the obligation to pay Base Rent, it share of expenses, and any and all other amounts due hereunder shall survive and continue. Upon the happening of any one or more of the aforementioned Defaults, Landlord shall have the option of not terminating this Lease and of exercising Landlord's right to re-enter the Premises immediately or thereafter without notice or resort to legal process, which Tenant hereby expressly waives, and in any event may dispossess the Tenant. No such re-entry or taking of possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, by Landlord shall be entitled construed as an election to recover from terminate this Lease unless Landlord delivers Tenant all reasonable damages incurred by Landlord by reason a written Notice of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunderTermination. Should Landlord elect to relet re-enter or should it take possession pursuant to legal proceedings or pursuant to any notice provided for by law, Landlord may make such alterations and repairs as Landlord deems necessary in order to re-let the Demised Premises or any part thereof, Landlord may do so portion thereof for such term or terms (which may be for a term extending beyond the term of this Lease) and at such rental or rentals and upon such other terms and conditions as Landlord Landlord, in its sole discretion, may deem appropriate. Rental advisable; and other amounts upon such re-letting, all rentals received by Landlord in connection with from such reletting re-letting shall be applied, first, to the payment of any indebtedness other than rent due hereunder form Tenant to Landlord; second, to the payment of any costs and expenses of such reletting, including attorney's fees and costs of such alterations and repairs including architect fees, overhead, accounting fees, lease commissions, suppliers, laborers, etc.; third, to the payment of Base Rent or any other payments, due and unpaid hereunder, and the residue, if any, shall be held by Landlord and applied in such manner payment of future rents as the same may become due and payable hereunder and any remaining positive balance shall be paid to such parties as Landlord shall determineTenant. Should If such rentals and other amounts received from such reletting re-letting during any month be is less than Tenant's obligations that to be paid during that month by Tenant hereunder, Tenant shall pay any such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises Landlord may recover from Tenant, immediately upon default by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to LandlordTenant, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent damages it may incur by Landlord to fulfill any reason of Tenant's obligations which Tenant did not fulfill prior to termination by Landlorddefault, plus, an amount equal to including the present value discounted at cost of recovering the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time whenPremises, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demandattorney's fees, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease which amounts shall be deemed immediately due and payable from Tenant to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.

Appears in 1 contract

Samples: Commercial Lease (Amerinet Group Com Inc)

Landlord’s Remedies. Upon The Landlord shall have the occurrence following remedies if Tenant commits a default under this Lease. These remedies are not exclusive but are cumulative and in addition to any remedies now or hereafter allowed by law. Landlord can continue this Lease in full force and effect, and the Lease will continue in effect so long as Landlord does not terminate Tenant's right to possession, and the Landlord shall have the right to collect rent when due. During the period that Tenant is in default, Landlord can enter the Premises and relet them, or any part of an Event them, to third parties for Tenant's account. Tenant shall be liable immediately to the Landlord for all costs the Landlord incurs in reletting the Premises, including without limitation, brokers' commissions, expenses of Defaultremodeling the Premises required by reletting, and like costs. Reletting can be for period shorter or longer than the remaining term of this Lease. 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. No act by Landlord allowed by this paragraph shall terminate this Lease unless Landlord notifies Tenant that Landlord elects to terminate this Lease. After Tenant's default and for so long as Landlord has not terminated Tenant's right to possession of the Premises, if Tenant obtains Landlord's consent, Tenant shall have the right to assume or sublet its interest in the Lease, but Tenant shall not be released from liability. Landlord's consent to the proposed assignment or subletting shall not be unreasonable withheld. If Landlord elects to relet the Premises as provided in this paragraph, any rent that Landlord receives from such reletting shall apply first to the payment of any indebtedness from Tenant to Landlord other than the rent due from Tenant to Landlord; secondly, to all costs, including maintenance, incurred by Landlord in such reletting and third, to any rent due and unpaid under this Lease. After deducting the payment referred to in this paragraph, any sum remaining from the rent Landlord receives from such reletting shall be held by Landlord and applied in payment of future rent as rent becomes due under this Lease. In no event 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 other rights or remedies it may havethe remaining rent due, all costs, including maintenance, that Landlord shall have incurred in reletting that remain after applying the right to terminate rent received from reletting as provided in this Leaseparagraph. Landlord can, or without terminating this Leaseat its option, terminate Tenant's right to possession of the Demised Premises, and in either event Premises at any time. No act by Landlord other giving written notice to Tenant shall immediately surrender possession terminate this Lease. Acts of maintenance, efforts to relet the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord the appointment of a receiver on Landlord's initiative to protect Landlord's interest in this Lease shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason not constitute a termination of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession possession. In the event of the Demised Premises is terminated without termination of the Leasesuch termination, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including has the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.:

Appears in 1 contract

Samples: Lease (Nara Bancorp Inc)

Landlord’s Remedies. Upon In the occurrence event of an Event of Defaultany default by Tenant under this Lease, Landlord, at its option, and after any applicable notice and cure period (as required pursuant to Section 12.01), but without additional notice or demand from Landlord, if any, as provided in Section 12.01 has expired, may, in addition to all other rights or and remedies it may have, shall have the right to terminate provided in this Lease, or otherwise at law or in equity: (a) terminate this Lease and Tenant's right of possession of the Leased Premises; or (b) terminate Tenant's right of possession of the Leased Premises without terminating this Lease; provided, terminate Tenant's right to possession of the Demised Premiseshowever, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, that Landlord may, without prejudice whether Landlord elects to any other remedy it may have for possession proceed under Subsections (a) or arrearage of rentals(b) above, enter upon and take possession of relet the Demised Premises and expel or remove Tenant and any other person who may be occupying the Demised Premises Leased Premises, or any part thereofthereof for the account of Tenant, with or without legal proceedings, without being liable for prosecution or any claim or damage thereforsuch rent and term and upon such terms and conditions as are reasonably acceptable to Landlord. In such eventaddition, for purposes of any reletting, Landlord is authorized to decorate, repair, alter and improve the Leased Premises to the extent deemed reasonably necessary by Landlord, in its reasonable discretion. In the event of the termination of this Lease by Landlord pursuant to (a) above, Landlord shall be entitled to recover from Tenant (i) all damages and other sums that Landlord is entitled to recover under any provision of this Lease or at law or in equity, including, but not limited to, all fixed dollar amounts of Base Rent and Additional Rent accrued and unpaid for the period up to and including such termination date; (ii) all other additional sums payable by Tenant, or for which Tenant is liable, or in respect of which Tenant has agreed to indemnify Landlord, under any of the provisions of this Lease, that may be then owing and unpaid; and (iii) all costs and expenses (including, without limitation, court costs and attorneys' reasonable damages fees) incurred by Landlord by reason in the enforcement of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's its rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or this Lease and (iv) any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received damages provable by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereundera matter of law including, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of positive difference, if any, between (ix) the total rental payments hereunder Rent provided to be paid for the remaining portion remainder of the term Demised Term (measured from the effective termination date of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less ) and (iiy) the fair market rental value of the Demised Leased Premises (determined at the date of termination of this Lease) after deduction (from such fair market rental value) of the projected costs and expenses of reletting the Leased 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 Leased 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 remaining period. Nothing herein contained deficiency monthly or (ii) pay such deficiency on an accelerated basis, which accelerated deficiency shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount be discounted at a rate equal to the maximum allowed by any statute or rule of law Federal Reserve discount rate in effect at on the time whendate of Landlord's demand. If Landlord elects to pursue its rights and remedies under Subsection (b) above, and governing Landlord fails to relet the proceedings in whichLeased Premises, such damages are then Tenant shall pay to be proved, whether or not such amount be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of (x) the principal 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 Notes then outstanding plus interest accrued thereon together with Lease for the Make Whole Amountbalance of the Demised Term, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as discounted to present value at a penalty but as liquidated damages. In addition rate equal to the aforesaid remedies, Federal Reserve discount rate in effect on the date of Landlord's demand. Tenant agrees that Landlord may file suit to recover any sums due to Landlord hereunder from time to time and that such suit or recovery of any amount due Landlord hereunder shall not be entitled any defense to any subsequent action brought for any amount not theretofore reduced to judgment in favor of Landlord. If Landlord elects to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All its rights and remedies under Subsection (b), then Landlord shall at any time have the further right and remedy to rescind such election and pursue its rights and remedies under Subsection (a). In the event Landlord elects, pursuant to subsection (b) of this Section 12.03, to terminate Tenant's right of possession only, without terminating this Lease, Landlord herein enumerated shall be cumulativemay, at Landlord's option, after the provision of fifteen (15) days written notice to Tenant, enter into the Premises, remove Tenant's Property, Tenant's signs and other evidences of tenancy, and take and hold possession thereof; 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 exercise Base Rent and Additional Rent reserved hereunder for the full Demised Term, or from any other obligation of Tenant under this Lease. Any and all property that may be removed from the commencement Premises by Landlord pursuant to the authority of the exercise Lease or of law, to which Tenant is or may be entitled, may be handled, removed or stored by Landlord at the sole risk, cost and expense of any one Tenant, and in no event or more of such rights circumstance shall Landlord be responsible for the value, preservation or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remediessafekeeping thereof. Tenant shall paypay to Landlord, upon demand, any and all of expenses incurred in such removal and all storage charges against such property so long as the same shall be in Landlord's costs, including reasonable attorneys' fees and court costs, incident to possession or under Landlord's control. Any such property of Tenant not retaken from storage by Tenant within 30 days after the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent with knowledge end of the breach of any covenant hereof shall not be deemed a waiver of such breachDemised Term, and no waiver by Landlord of any provisions of this Lease however terminated, shall be deemed conclusively presumed to have been made unless expressed conveyed by Tenant to Landlord under this Lease as in writing and signed by Landlord. Without limiting the generality a bxxx of the foregoingsale, no failure without further payment or credit by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this LeaseTenant.

Appears in 1 contract

Samples: Disturbance and Attornment Agreement (Blonder Tongue Laboratories Inc)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault 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 haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. Notwithstanding anything to the contrary in this Lease, or without terminating if there is an Event of Default under subparagraph 23(i), prior to Landlord exercising a Lease termination remedy under this Xxxxxxxxx 00, Xxxxxxxx shall first provide Tenant with an additional written notice of the Event of Default under subparagraph 23(i), and Tenant shall have 10 days to pay all outstanding amounts due to cure such Event of Default prior to Landlord exercising its termination remedies. If Landlord terminates this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant the sum of: all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation Base Rent and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) accrued hereunder accrued to the date of such termination; the value of the Base Rent for any periods of abated Monthly Base Rent based on the Monthly Base Rent amount that immediately follows such period of abatement; the cost of reletting the whole or any part of the Premises, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination including without limitation brokerage fees and/or leasing commissions incurred by Landlord, plusand costs of removing and storing Tenant's or any other occupant's property, an amount equal repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit a new tenant or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time whentenants, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a all reasonable estimate of such other amounts necessary to compensate expenses incurred by Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid pursuing its remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident ; and the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the enforcement expiration date stated in this Lease, over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury xxxx rate at the date of such termination. If Landlord terminates Tenant's obligations hereunderright to possession (but not this Lease) without terminating the Lease after an Event of Default, Landlord shall use commercially reasonable efforts to relet the Premises without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant; 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 of Landlord's leasing criteria. For the purpose of such reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of the rental reserved in this Lease for such period or periods, plus the cost of recovering possession of the Premises (including attorneys' fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord to relet the Premises. If the Premises are relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting, the cost of recovering possession (including attorneys' fees and costs of suit), all of the costs and expense of repairs, changes, alterations, and additions, the expense of such reletting (including without limitation brokerage fees and leasing commissions) and the cost of collection of the rent accruing therefrom] to satisfy the rent provided for in this Lease to be paid, then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be made upon demand therefor from time to time and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance of surrender of the Premises and/or a termination of this Lease by Landlord, whether by agreement or by operation of law, it being understood that such surrender and/or termination can be effected only by the written agreement of Landlord and Tenant. Any law, usage, or custom to the contrary notwithstanding, Landlord shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Landlord at any time to enforce its rights under this Lease strictly in accordance with same shall not be construed as having created a custom in any way or manner contrary to the specific terms, provisions, and covenants of this Lease or as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord to enforce its rights pursuant to this Lease or at law or in equity, shall not be a waiver of Landlord's right to enforce one or more of its rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provisions provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting To the generality greatest extent permitted by law, Tenant waives the service of the foregoingnotice of Landlord's intention to re-enter as provided for in any statute, no failure or to institute legal proceedings to that end, and also waives all right of redemption in case Tenant shall be dispossessed by Landlord to insist upon the performance a judgment or by warrant of any of the court or judge. The terms of this Lease "enter," "re-enter," "entry" or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of "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 no express waiver shall affect any default other conditions as Landlord in its sole discretion may determine (including without limitation a term different than the default specified in remaining Lease Term, rental concessions, alterations and repair of the express waiver Premises, lease of less than the entire Premises to any tenant and that only for leasing any or all other portions of the time and to Project before reletting the extent therein statedPremises). One or more waivers by Landlord shall not be construed as a waiver 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 a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Leasesuch reletting.

Appears in 1 contract

Samples: Lease Agreement (Systemax Inc)

Landlord’s Remedies. Upon the occurrence of an Event of Default, Landlord, in addition to other rights or remedies it may have, shall have the right to terminate any default by Tenant under this Lease, Landlord may, at its sole option, do any one or without terminating more of the following: (a) Landlord may terminate this Lease, terminate Lease and/or Tenant's ’s right to possession of the Demised Leased Premises, whereupon Tenant’s right of possession shall thereupon cease and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord terminate and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Leased Premises, expenses any process of reletting including reasonable renovation law, any notice to quit, or of intention to re-enter being hereby exercised by entry, or in lieu thereof, by written notice to Tenant terminating this Lease and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's ’s right to possession possession. Tenant hereby expressly waives any and all rights of redemption granted by or under any present or future laws in the Demised Premises is terminated without termination event of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises Tenant being evicted or dispossessed for any part thereof, Landlord may do so for such term cause or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease or Tenant’s right of possession as provided in accordance herewiththis Section 6.2. In the event of such re-entry by process of law or otherwise, Tenant nevertheless shall be remain liable for any and all damage, deficiency or loss and Landlord shall pay have the power and right, which is hereby acceded to Landlordby Tenant, to re-let the sum of all rent Leased Premises, and other payments owed whether or not there has been such re-letting, Landlord shall have the right each month to date to Landlord, xxx for and recover all sums owed to date to third parties (including previously due and not previously paid as well as all sums thereafter due and payable including, without limitation, all Impositionsany loss of rents (or monthly deficit) hereunder accrued with the right reserved to the date of such termination, all amounts required to be spent by Landlord to fulfill bring any action(s) or proceeding(s) for the recovery of any deficit(s) remaining unpaid without being obligated to await the expiration of the Lease Term for a final determination of Tenant's obligations which Tenant did not fulfill prior ’s account. Additionally, Landlord may elect at any time, upon notice to termination by LandlordTenant, plusto accelerate the payment of Base Rental, an amount equal Additional Rent and all other sums due or to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of become due under the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Leasereasonably estimated by Landlord, in which case Tenant shall forthwith pay such calculation shall be sums to Landlord after receiving a credit for (i) such sums as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for [ * ] Indicates that information has been omitted and obtain, as damages by reason of such expiration or 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together filed separately with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as Securities and Exchange Commission pursuant to a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only request for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Leaseconfidential treatment.

Appears in 1 contract

Samples: Office Lease Agreement

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault 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 haveproceeding 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 terminate keep in place and use, or remove and sell, all of the furniture, fixtures and equipment at the Premises, subject to any existing superior or properly filed UCC statement lien. If Landlord terminates this Lease, or without terminating this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant the sum of: all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation Rent and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) accrued hereunder accrued to the date of such termination; the cost of reletting the whole or any part of the Premises, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination including without limitation brokerage fees and/or leasing commissions incurred by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate and costs of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit removing and storing Tenant's or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now occupant's property, repairing, or hereafter available to Landlord at equity or under otherwise putting the laws or judicial decisions of Premises into the state where the Demised Premises is located or same condition as originally received by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all following completion of Landlord's costswork and all reasonable expenses incurred by Landlord in pursuing its remedies, including reasonable attorneys' fees and court costs, incident ; and the excess of the then present value of the Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the enforcement expiration date stated in this Lease, over the present value of any net amounts after deducting Landlord's costs that Landlord can reasonably expect to recover by reletting the Premises for such period. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury xxxx rate at the date of such termination. If Landlord terminates Tenant's obligations hereunderright of possession (but not this Lease), Landlord shall use reasonable efforts to relet the Premises for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant. For the purpose of such reletting Landlord is authorized to make any repairs in or to the Premises as Landlord deems reasonably necessary for reletting the Premises. If the Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of the rental reserved in this Lease for such period or periods, plus the cost of recovering possession of the Premises (including attorneys' fees and costs of suit), the unpaid Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord to relet the Premises. If the Premises are relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, for retention by Landlord, the unpaid Rent and other amounts accrued hereunder at the time of reletting, the cost of recovering possession (including attorneys' fees and costs of suit), all of the costs and expense of repairs, the expense of such reletting (including without limitation brokerage fees and leasing commissions) and the cost of collection of the rent accruing therefrom] to satisfy the Rent provided for in this Lease to be paid, then Tenant shall immediately satisfy and pay any such deficiency. 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 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 provisions provision of this Lease lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting To the generality greatest extent permitted by law, Tenant waives the service of the foregoingnotice of Landlord's intention to re-enter as provided for in any statute, no failure or to institute legal proceedings to that end, and also waives all right of redemption in case Tenant shall be dispossessed by Landlord to insist upon the performance a judgment or by warrant of any of the court or judge. The terms of this Lease "enter," "re-enter," "entry" or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of "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 no express waiver shall affect any default other conditions as Landlord in its sole discretion may determine (including without limitation a term different than the default specified in remaining Lease Term, rental concessions, and repair of the express waiver Premises, lease of less than the entire Premises to any tenant and that only for leasing any or all other portions of the time and to Project before reletting the extent therein statedPremises). One or more waivers by Landlord shall not be construed as a waiver liable, nor shall Tenant's obligations hereunder be diminished because of a subsequent breach Landlord's failure to relet the Premises or collect Rent due in respect of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Leasesuch reletting.

Appears in 1 contract

Samples: Lease Agreement (ULURU Inc.)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault 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 haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease, or without terminating this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant the sum of: all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation Base Rent and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) accrued hereunder accrued to the date of such termination; the cost of reletting the whole or any part of the Premises, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination including without limitation brokerage fees and/or leasing commissions incurred by Landlord, plusand costs of removing and storing Tenant's or any other occupant's property, an amount equal repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit a new tenant or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time whentenants, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a all reasonable estimate of such other amounts necessary to compensate expenses incurred by Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid pursuing its remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident ; and the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the enforcement expiration date stated in this Lease, over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury xxxx rate at the date of such termination. If Landlord terminates Tenant's obligations hereunderright of possession (but not this Lease), Landlord may, but shall be under no obligation to, relet the Premises for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant. A receipt For the purpose of such reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then tenant shall pay to Landlord as damages a sum equal to the amount of the rental reserved in this Lease for such period or periods, plus the cost of recovering possession of the Premises (including attorneys' fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord of rent with knowledge of to relet the breach of any covenant hereof Premises. If the Premises are relet and a sufficient sum shall not be deemed a waiver realized from such reletting (after first deducting therefrom, for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting, the cost of recovering possession (including attorneys' fees and costs of suit), all of the costs and expense of repairs, changes, alterations, and additions, the expense of such breach, reletting (including without limitation brokerage fees and no waiver by Landlord leasing commissions) and the cost of any provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality collection of the foregoing, no failure by Landlord rent accruing therefrom) to insist upon satisfy the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only rent provided for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease providedto be paid, then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be entitled made upon demand therefor from time to seek a restraint by injunction of the violation or attempted or threatened violation of the covenantstime and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, conditions and provisions of Landlord may at any time thereafter elect in writing to terminate this Lease.Lease for such previous breach. -- Addendum F

Appears in 1 contract

Samples: Lease Agreement (Concord Camera Corp)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault and so long as such Event of Default shall be continuing, Landlord may at any time thereafter at its election: (i) terminate this Lease or Tenant's right of possession, but Tenant shall remain liable as hereinafter provided; and/or (ii) pursue any remedies provided for under this Lease or 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 haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease, Landlord may recover from Tenant the sum of: all Base Rent and all other amounts accrued hereunder to the date of such termination; the cost of reletting the whole or any part of the Premises, including without terminating this Leaselimitation brokerage fees and/or leasing commissions incurred by Landlord, terminate and, to the extent commercially reasonable in Landlord's reasonable opinion, costs of removing and storing Tenant's or any other occupant's property, repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to a new tenant or tenants (provided Tenant shall not be liable for any such costs which are inconsistent with the use of the Premises as an office/warehouse facility), and all reasonable expenses incurred by Landlord in If Landlord terminates Tenant's right to of possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event(but not this Lease), Landlord shall use commercially reasonable efforts to mitigate damages by using reasonable efforts to relet the Premises for the account of Tenant for such rent and upon such terms as shall be entitled reasonably satisfactory to recover Landlord without thereby releasing Tenant from Tenant all reasonable damages incurred by Landlord by reason any liability hereunder and without demand or notice of any kind to Tenant. For the purpose of such Event reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of Defaultthe rental reserved in this Lease for such period or periods, including without limitation, plus the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costscosts of suit), incident to the enforcement unpaid Base Rent and other amounts accrued hereunder at the time of Tenant's obligations hereunder. A receipt repossession, and the costs incurred in any attempt by Landlord of rent with knowledge of to relet the breach of any covenant hereof Premises. If the Premises are relet and a sufficient sum shall not be deemed a waiver realized from such reletting [after first deducting therefrom, for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting, the cost of recovering possession (including attorneys' fees and costs of suit), all of the costs and expense of repairs, changes, alterations, and additions, the expense of such breach, reletting (including without limitation brokerage fees and no waiver by Landlord leasing commissions) and the cost of any provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality collection of the foregoing, no failure by Landlord rent accruing therefrom] to insist upon satisfy the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only rent provided for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease providedto be paid, then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be entitled made upon demand therefor from time to seek a restraint by injunction of the violation or attempted or threatened violation of the covenantstime and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, conditions and provisions of Landlord may at any time thereafter elect in writing to terminate this LeaseLease for such previous breach.

Appears in 1 contract

Samples: Lease Agreement (Weider Nutrition International Inc)

Landlord’s Remedies. Upon the each occurrence of an Event of Default, and so long as such Event of Default shall be continuing, Landlord may at any time thereafter at its election: (i) terminate this Lease or Tenant's right of possession, but Tenant shall remain liable as hereinafter provided; and/or (ii) pursue any remedies provided for under this Lease or at law or in equity. Upon the termination of this Lease or termination of Tenant's right of possession, to the extent permitted by applicable law, Landlord, in addition to without formal demand or notice of any kind, may re-enter the Premises by summary dispossession proceedings or any other rights action or remedies it may haveproceeding authorized by law and remove Tenant and all persons and property therefrom. If Landlord re-enters the Premises as provided herein, 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. If Landlord terminates this Lease, or without terminating this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent Base Rent and all other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) amounts accrued hereunder accrued to the date of such termination; the cost of reletting the whole or any part of the Premises, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination including without limitation brokerage fees and/or leasing commissions incurred by Landlord, plusand costs of removing and storing Tenant's or any other occupant's property, an amount equal repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit a new tenant or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time whentenants, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a all reasonable estimate of such other amounts necessary to compensate expenses incurred by Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid pursuing its remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident ; and the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the enforcement expiration date stated in this Lease, over the present value of any net amounts which Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury bill xxxe at the date of such termination. If Landlord terminates Tenant's obligations hereunderright of possession (but not this Lease), Landlord may, but shall be under no obligation to, relet the Premises for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant. A receipt For the purpose of such reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of the rental reserved in this Lease for such period or periods, plus the cost of recovering possession of the Premises (including attorneys' fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord to relet the Premises. If the Premises are relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting, the cost of recovering possession (including attorneys' fees and costs of suit), all of the costs and expense of repairs, changes, alterations, and additions, the expense of such reletting (including without limitation brokerage fees and leasing commissions) and the cost of collection of the rent accruing therefrom] to satisfy the rent provided for in this Lease to be paid, then Tenant shall immediately satisfy and pay any such deficiency. 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 rent with knowledge of the breach of any covenant hereof 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 waiver termination of this Lease by Landlord, whether by agreement or by operation of law, it being understood that such breachsurrender and/or termination can be effected only by the written agreement of Landlord and Tenant. Any law, and no waiver by usage, or custom to the contrary notwithstanding, Landlord of any shall have the right at all times to enforce the provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of strict accordance with the terms hereof, and the failure of Landlord at any time to enforce its rights under this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified strictly in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord accordance with same shall not be construed as having created a waiver custom in any way or manner contrary to the specific terms, provisions, and covenants of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.or

Appears in 1 contract

Samples: Lease Agreement (Edwards J D & Co)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault 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 haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease, Landlord may recover from Tenant the sum of: all Base Rent and all other amounts accrued hereunder to the date of such termination; the value of the Base Rent for any periods of abated Monthly Base Rent based on the Monthly Base Rent amount that immediately follows such period of abatement; the cost of reletting the whole or any part of the Premises, including without terminating limitation brokerage fees and/or leasing commissions incurred by Landlord, and costs of removing and storing Tenant’s or any other occupant’s property, repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to a new tenant or tenants, and all reasonable expenses incurred by Landlord in pursuing its remedies, including reasonable attorneys’ fees and court costs; and the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the expiration date stated in this Lease, terminate over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury xxxx rate at the date of such termination. If Landlord terminates Tenant's ’s right to possession of (but not this Lease) without terminating the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such Lease after an Event of Default, including Landlord shall use commercially reasonable efforts to relet the Premises without limitationthereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant; 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 of Landlord’s leasing criteria. For the purpose of such reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of the rental reserved in this Lease for such period or periods, plus the cost of recovering possession of the Demised Premises (including attorneys’ fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord to relet the Premises. If the Premises are relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, expenses for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting reletting, the cost of recovering possession (including reasonable renovation attorneys’ fees and alteration costs of suit), all of the Demised Premisescosts and expense of repairs, attorneyschanges, fees, real estate commissionsalterations, and any other sum additions, the expense of money, late charges such reletting (including without limitation brokerage fees and damages. If Tenant's right to possession leasing commissions) and the cost of collection of the Demised Premises is terminated without termination of rent accruing therefrom] to satisfy the Leaserent provided for in this Lease to be paid, then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be entitled made upon demand therefor from time to enforce all of Landlord's rights time and remedies under the Lease, including the right Tenant agrees that Landlord may file suit to recover the rent as it becomes any sums falling due hereunderfrom time to time. Should Landlord elect to relet the Demised Premises or Notwithstanding any part thereofsuch reletting without termination, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord any time thereafter elect in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part writing to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining periodprevious breach. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise 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 remedies should not preclude manner contrary to the simultaneous specific terms, provisions, and covenants of this Lease or later exercise as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord of any to enforce its rights pursuant to this Lease or all other rights at law or remedies. Tenant in equity, shall pay, upon demand, all not be a waiver of Landlord's costs, including reasonable attorneys' fees and court costs, incident ’s right to the enforcement enforce one or more of Tenant's obligations hereunderits rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provisions provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting To the generality greatest extent permitted by law, Tenant waives the service of the foregoingnotice of Landlord’s intention to re-enter as provided for in any statute, no failure or to institute legal proceedings to that end, and also waives all right of redemption in case Tenant shall be dispossessed by Landlord to insist upon the performance a judgment or by warrant of any of the court or judge. The terms of this Lease “enter,” “re-enter,” “entry” or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of “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 no express waiver shall affect any default other conditions as Landlord in its sole discretion may determine (including without limitation a term different than the default specified in remaining Lease Term, rental concessions, alterations and repair of the express waiver Premises, lease of less than the entire Premises to any tenant and that only for leasing any or all other portions of the time and to Project before reletting the extent therein statedPremises). One or more waivers Except as otherwise provided by law, Landlord shall not be construed as a waiver 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 a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Leasesuch reletting.

Appears in 1 contract

Samples: Lease Agreement (Superconductor Technologies Inc)

Landlord’s Remedies. Upon In the occurrence event of an Event of Defaultany default by Tenant, and without limiting Landlord’s right to indemnification as provided in Article 8.2, Landlord shall have the following remedies, in addition to all other rights and remedies provided by law or otherwise provided in this Lease, to which Landlord may resort cumulatively, or in the alternative: (a) Landlord may, at Landlord’s election, keep this Lease in effect and enforce, by an action at law or in equity, all of its rights and remedies it may haveunder this Lease including, shall have without limitation, (i) the right to terminate recover the rent and other sums as they become due by appropriate legal action, (ii) the right to make payments required by Tenant, or perform Tenant’s obligations and be reimbursed by Tenant for the cost thereof with interest at the then maximum rate of interest not prohibited by law from the date the sum is paid by Landlord until Landlord is reimbursed by Tenant, and (iii) the remedies of injunctive relief and specific performance to prevent Tenant from violating the terms of this Lease and/or to compel Tenant to perform its obligations under this Lease, or without terminating this Leaseas the case may be. (b) Landlord may, at Landlord’s election, terminate Tenant's right to possession this Lease by giving Tenant written notice of termination, in which event this Lease shall terminate on the Demised Premisesdate set forth for termination in such notice, and in either which event Tenant shall immediately surrender possession of the Demised Leased Premises to Landlord Landlord, and if Tenant fails to do so, Landlord may, without prejudice to any other remedy which it may have for possession or arrearage of rentalsarrearages in rent, enter upon and take possession of the Demised Leased Premises and expel or remove Tenant and any other person who may be occupying the Demised Leased Premises or any part thereof, with or without legal proceedings, without being liable for prosecution or any claim or damage damages therefor. Any termination under this subparagraph shall not relieve Tenant from its obligation to pay to Landlord all Base Monthly Rent and Additional Rent then or thereafter due, or any other sums due or thereafter accruing to Landlord, or from any claim against Tenant for damages previously accrued or then or thereafter accruing. In such eventno event shall any one or more of the following actions by Landlord, Landlord shall be entitled to recover from Tenant all reasonable damages incurred in the absence of a written election by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms termination of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.:

Appears in 1 contract

Samples: Scientific Learning Corp

Landlord’s Remedies. Upon the occurrence of If there shall be an Event of DefaultDefault (even if prior to the Lease Commencement Date), Landlord, in addition to other rights or remedies it may have, then the provisions of this Section shall apply. Landlord shall have the right right, at its sole option, to terminate this Lease. In addition, with or without terminating this Lease, Landlord may re-enter, terminate Tenant's right to of possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, enter upon and take possession of the Demised Premises Premises. The provisions of this Article shall operate as a notice to quit, and expel or remove Tenant and hereby waives any other person who notice to quit or notice of Landlord's intention to re-enter the Premises or terminate this Lease. If necessary, Landlord may proceed to recover possession of the Premises under applicable Laws, or by such other proceedings, including re-entry and possession, as may be occupying applicable. If Landlord elects to terminate this Lease and/or elects to terminate Tenant's right of possession, everything contained in this Lease on the Demised Premises part of Landlord to be done and performed shall cease without prejudice, however, to Tenant's liability for all Base Rent. additional rent and other sums specified herein. Whether or any part thereof, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such eventnot this Lease and/or Tenant's right of possession is terminated, Landlord shall be entitled have the right, at its sole option, to recover from Tenant all reasonable damages incurred by Landlord by reason terminate any right of such renewal, expansion, first offer or refusal and any right to purchase the Premises contained in this Lease and to grant or withhold any consent or approval pursuant to this Lease in its sole and absolute discretion. If there exists an Event of DefaultDefault under this Lease and Tenant has vacated the Premises, including without limitationthen Landlord shall thereafter use reasonable efforts to relet the Premises; provided, however, that Tenant hereby acknowledges the cost of recovering possession special use of the Demised Premises, expenses Premises for the conduct of reletting including reasonable renovation business by a franchised dealer of motor vehicles and alteration agrees that the ability of Landlord to relet the Demised Premises, attorneys, fees, real estate commissions, same to another dealer of motor vehicles under a franchise agreement satisfactory to Landlord is extremely uncertain and any other sum would be likely to require a substantial amount of money, late charges and damagestime. If Whether or not this Lease and/or Tenant's right to of possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriatesuit is instituted. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable for any Base Rent, additional rent, damages or other sum which may be due or sustained prior to such default, and shall pay to Landlordfor all costs, the sum of all rent fees and other payments owed to date to Landlordreasonable, all sums owed to date to third parties out-of-pocket expenses (including without limitationincluding, all Impositions) hereunder accrued to the date of such terminationbut not limited to, all amounts required to be spent by Landlord to fulfill attorneys' fees and costs, brokerage fees, expenses incurred in enforcing any of Tenant's obligations which Tenant did not fulfill prior to termination under the Lease or in placing the Premises in first-class rentable condition, advertising expenses, and any concessions or allowances granted by Landlord) incurred by Landlord in pursuit of its remedies hereunder and/or in recovering possession of the Premises and renting the Premises to others from time to time plus other actual or consequential damages suffered or incurred by Landlord on account of Tenant's default (including, plusbut not limited to, late fees or other charges incurred by Landlord under any Mortgage). Tenant also shall be liable for additional damages which at Landlord's election shall be either one or a combination of the following: (a) an amount equal to the present value discounted at Base Rent and additional rent due or which would have become due from the Federal Reserve discount rate date of (i) Tenant's default through the total rental payments hereunder for the remaining portion remainder of the term Lease Term, less the amount of rental, if any, which Landlord receives during such period from others to whom the LeasePremises may be rented (other than any additional rent received by Landlord as a result of any failure of such other person to perform any of its obligations to Landlord), calculated as if such term the Expiration Date, unless Tenant has extended this Leasewhich amount shall be computed and payable in monthly installments, in which case such calculation shall be as if the term expires advance, on the final first day of each calendar month following Tenant's default and continuing until the Extension date on which the Lease Term then would have expired but for Tenant's default, it being understood that separate suits may be brought from time to time to collect any such damages for any month(s) (and any such separate suit shall not in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or any manner prejudice the right of Landlord to prove collect any damages for and obtainany subsequent month(s)), as damages by reason of or Landlord may defer initiating any such suit until after the expiration or 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of Lease Term (in which event such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord deferral shall not be construed as a waiver of a subsequent breach Landlord's rights as set forth herein and Landlord's cause of action shall be deemed not to have accrued until the expiration of the same covenantLease Term), term or condition. In addition and it being further understood that if Landlord elects to other remedies in this Lease providedbring suits from time to time prior to reletting the Premises, Landlord shall be entitled to seek a restraint by injunction its full damages through the date of the violation award of damages without regard to any Base Rent, additional rent or attempted other sums that are or threatened violation may be projected to be received by Landlord upon reletting of the covenantsPremises; or (b) an amount equal to the sum of (i) all Base Rent, conditions additional rent and other sums due or which would be due and payable under this Lease as of the date of Tenant's default through the end of the scheduled Lease Term, plus (ii) all reasonable, out-of-pocket expenses (including broker and attorneys' fees) and value of all vacancy periods projected by Landlord to be incurred in connection with the reletting of the Premises. Such amount shall be discounted using a discount factor equal to the yield of the Treasury Note or Xxxx, as appropriate, having a maturity period approximately commensurate to the remainder of the Term, and such resulting amount shall be payable to Landlord in a lump sum on demand, it being understood that upon payment of such liquidated and agreed final damages, Tenant shall be released from further liability under this Lease with respect to the period after the date of such payment. Landlord may bring suit to collect any such damages at any time after an Event of Default shall have occurred. In the event Landlord relets the Premises for a term extending beyond the scheduled expiration of the Lease Term, it is understood that Tenant will not be entitled to apply any base rent, additional rent or other sums generated or projected to be generated in the period extending beyond the scheduled expiration of the Lease Term (collectively, the "Extra Rent') against Landlord's damages. Similarly in proving the amount that would be received by Landlord upon a reletting of the Premises as set forth in clause (iii) above, Tenant shall not take into account the Extra Rent. The provisions contained in this Section shall be in addition to, and shall not prevent the enforcement of, any claim Landlord may have against Tenant for anticipatory breach of this Lease. Nothing herein shall be construed to affect or prejudice Landlord's right to prove, and claim in full, unpaid rent accrued prior to termination of this Lease. If Landlord is entitled, or Tenant is required, pursuant to any provision hereof to take any action upon the termination of the Lease Term, then Landlord shall be entitled, and Tenant shall be required, to take such action also upon the termination of Tenant's right of possession.

Appears in 1 contract

Samples: Lease Agreement (Lithia Motors Inc)

Landlord’s Remedies. Upon In the occurrence event that Landlord elects to declare a breach of an Event of Defaultthis Lease, Landlord, in addition to other rights or remedies it may have, then Landlord shall have the right to terminate give Tenant notice of intention to end the term of this Lease and, after any cure period provided in this Lease, thereupon the term of this Lease shall expire as fully and completely as if that day were the day herein definitely fixed for the expiration of the Term and Tenant shall then quit and surrender the Premises to Landlord, but Tenant shall remain liable as hereinafter provided. If Tenant fails to so quit and surrender the Premises as aforesaid, Landlord shall have the right as provided by law to evict Tenant and the legal representatives of Tenant and all other occupants of the Premises by unlawful detainer or without terminating other summary proceedings, or otherwise, and remove their effects and regain possession of the Premises (but Landlord shall not be obligated to effect such removal). In the event of any breach of this LeaseLease by Tenant (and regardless of whether or not Tenant has abandoned the Premises) this Lease shall not terminate unless Landlord, at Landlord's option, elects at any time when Tenant is in breach of this Lease to terminate Tenant's right to possession or, at Landlord's further option, by the giving of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice any notice (including but not limited to any other remedy it may have for possession notice preliminary or arrearage prerequisite to the bringing of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If proceedings in unlawful detainer) terminating Tenant's right to possession of the Demised Premises is terminated without termination of the Leasepossession. For so long as this Lease continues in effect, Landlord shall be entitled to may enforce all of Landlord's rights and remedies under the this Lease, including the right to recover the all rent as it becomes due hereunder. Should Landlord elect For the purposes of this paragraph, the following shall not constitute termination of Tenant's right to possession: acts of maintenance or preservation or efforts to relet the Demised Premises Premises, or any part thereof, the appointment of a receiver upon initiative of Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenantprotect Landlord's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate interest under this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than or termination of Tenant's right to possession as the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver result of a subsequent Tenant's breach of the same covenant, term or condition. In addition to other remedies in this Lease providedLease, Landlord shall be entitled to seek a restraint by injunction of have the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.right:

Appears in 1 contract

Samples: Lease Agreement (Nextel Partners Inc)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault 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 reenter the Premises by summary dispossession proceedings or any other rights action or remedies it may haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease, or without terminating this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant the sum of: (i) all reasonable damages incurred by Landlord by reason of such Event of DefaultBase Rent, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation Additional Rent and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) accrued hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less ; (ii) the fair market rental value cost of reletting the whole or any part of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtainPremises, as damages including without limitation, brokerage fees and/or leasing commissions incurred by reason of such expiration or termination, an amount equal to the maximum allowed Landlord; (iii) all reasonable expenses incurred 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid pursuing its remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to ; and (iv) the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent with knowledge then present value of the breach of any covenant hereof shall not Base Rent Additional Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be deemed a waiver of such breach, and no waiver paid by Tenant to Landlord of any provisions during the period following the termination of this Lease measured from the date of such termination to the expiration date stated in this Lease. Such present value shall be deemed calculated at a discount rate equal to have been made unless expressed the 90-day U. S. Treasury xxxx rate at the date of such termination. If Landlord terminates Tenant's right of possession (but not this Lease), Landlord may, but shall be under no obligation to, relet the Premises for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant. For the purpose of such reletting Landlord is authorized to make any repairs, changes, alterations, or additions in writing and signed by Landlordor to the Premises as Landlord deems reasonably necessary or desirable without notice to Tenant. Without limiting If the generality Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies Rent reserved in this Lease providedfor such period or periods, plus the cost of recovering possession of the Premises (including attorneys' fees and costs of suit), the unpaid Base Rent, Additional Rent and other amounts accrued hereunder at the time from time to time. Notwithstanding any such reletting without termination, Landlord shall be entitled may at any time thereafter elect in writing to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of terminate this LeaseLease for such previous breach.

Appears in 1 contract

Samples: Lease (Blue Rhino Corp)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault 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 haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises, If Landlord terminates this Lease, or without terminating this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant the sum of: all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation Base Rent and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) accrued hereunder accrued to the date of such termination; the cost of reletting the whole or any part of the Premises, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination including without limitation brokerage fees and/or leasing commissions incurred by Landlord, plusand costs of removing and storing Tenant's or any other occupant's property, an amount equal repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit a new tenant or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time whentenants, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a all reasonable estimate of such other amounts necessary to compensate expenses incurred by Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid pursuing its remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to ; and the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent with knowledge excess of the breach then present value of any covenant hereof shall not the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be deemed a waiver of such breach, and no waiver paid by Tenant to Landlord of any provisions during the period following the termination of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting measured from the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver date of such breach or any of termination to the terms of expiration date stated in this Lease, over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and no express waiver other market conditions affecting leasing. Such present values shall affect any default other than the default specified in the express waiver and that only for the time and be calculated at a discount rate equal to the extent therein stated90-day U.S. Treasury bill rate at the date of such termination. One or more waivers by If Lanxxxxd 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 construed 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 of Landlord's leasing criteria. Such reletting shall be for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant. For the purpose of such reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then Tenant shall pay to Landlord as damages a waiver of a subsequent breach sum equal to the amount of the same covenant, term or condition. In addition to other remedies rental reserved in this Lease providedfor such period or periods, plus the cost of recovering possession of the Premises (including attorneys' fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord to relet the Premises. If the Premises are relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting, the cost of recovering possession (including attorneys' fees and costs of suit), all of the costs and expense of repairs, changes, alterations, and additions, the expense of such reletting (including without limitation brokerage fees and leasing commissions) and the cost of collection of the rent accruing therefrom] to satisfy the rent provided for in this Lease to be paid, then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be entitled made upon demand therefor from time to seek a restraint by injunction of the violation or attempted or threatened violation of the covenantstime and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, conditions and provisions of Landlord may at any time thereafter elect in writing to terminate this LeaseLease for such previous breach.

Appears in 1 contract

Samples: Lease Agreement (Celerity Group Inc)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault 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 haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease, Landlord may recover from Tenant the sum of: all Base Rent and all other amounts accrued hereunder to the date of such termination; the cost of reletting the whole or any part of the Premises, including without terminating limitation brokerage fees and/or leasing commissions incurred by Landlord, and costs of removing and storing Tenant’s or any other occupant’s property, repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to a new tenant or tenants, and all reasonable expenses incurred by Landlord in pursuing its remedies, including reasonable attorneys’ fees and court costs; and the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the expiration date stated in this Lease, terminate over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury xxxx rate at the date of such termination. If Landlord terminates Tenant's ’s right to of possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so(but not this Lease), Landlord may, but shall be under no obligation to, relet the Premises for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without prejudice thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant. For the purpose of such reletting Landlord is authorized to make any other remedy it may have for possession repairs, changes, alterations, or arrearage of rentalsadditions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, enter upon and take possession then Tenant shall pay to Landlord as damages a sum equal to the amount of the Demised Premises and expel rental reserved in this Lease for such period or remove Tenant and any other person who may be occupying the Demised Premises or any part thereofperiods, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, plus the cost of recovering possession of the Demised Premises (including attorneys’ fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord to relet the Premises. If the Premises are relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, expenses for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time or reletting, the cost of reletting recovering possession (including reasonable renovation attorneys’ fees and alteration costs of suit), all of the Demised Premisescosts and expense of repairs, attorneyschanges, fees, real estate commissionsalterations, and any other sum additions, the expense of money, late charges such reletting (including without limitation brokerage fees and damages. If Tenant's right to possession leasing commissions) and the cost of collection of the Demised Premises is terminated without termination of rent accruing therefrom] to satisfy the Leaserent provided for in this Lease to be paid, then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be entitled made upon demand therefor from time to enforce all of Landlord's rights time and remedies under the Lease, including the right Tenant agrees that Landlord may file suit to recover the rent as it becomes any sums falling due hereunderfrom time to time. Should Landlord elect to relet the Demised Premises or Notwithstanding any part thereofsuch reletting without termination, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord any time thereafter elect in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part writing to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining periodprevious breach. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise 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 remedies should not preclude manner contrary to the simultaneous specific terms, provisions, and covenants of this Lease or later exercise as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord of any to enforce its rights pursuant to this Lease or all other rights at law or remedies. Tenant in equity, shall pay, upon demand, all not be a waiver of Landlord's costs, including reasonable attorneys' fees and court costs, incident ’s right to the enforcement enforce one or more of Tenant's obligations hereunderits rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provisions provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting To the generality greatest extent permitted by law, Tenant waives the service of the foregoingnotice of Landlord’s intention to re-enter as provided for in any statute, no failure or to institute legal proceedings to that end, and also waives all right of redemption in case Tenant shall be dispossessed by Landlord to insist upon the performance a judgment or by warrant of any of the court or judge. The terms of this Lease “enter,” “re-enter,” “entry” or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of “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 no express waiver shall affect any default other conditions as Landlord in its sole discretion may determine (including without limitation a term different than the default specified in remaining Lease Term, rental concessions, alterations and repair of the express waiver Premises, lease of less than the entire Premises to any tenant and that only for leasing any or all other portions of the time and to Project before reletting the extent therein statedPremises). One or more waivers by Landlord shall not be construed as a waiver 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 a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Leasesuch reletting.

Appears in 1 contract

Samples: Lease Agreement (Cmgi Inc)

Landlord’s Remedies. Upon In the occurrence event of an Event of a Tenant's Default, Landlord, in addition to other rights or remedies it may have, Landlord shall have the right to terminate this Lease, Lease or without terminating this Lease, terminate Tenant's right to possession possession. Upon receipt of the Demised Premises, and in either event a notice of termination Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant Landlord. If Xxxxxx fails to do sosurrender the Premises, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, enter upon and take possession of the Demised Premises Premises, in compliance with law. Notwithstanding the foregoing, the Tenant shall pay Landlord all past due Rent and expel or remove Tenant other damages, losses and any other person who may be occupying the Demised Premises or any part thereof, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred expenses suffered by Landlord by reason as a result of such Event of Xxxxxx's Default. Those costs and expenses shall include the costs and expenses incurred in reletting or attempting to relet the Premises, including without limitationreasonable attorneys' fees, brokerage fees, the cost of recovering possession physical alterations to the Premises and the reasonable value of other allowances or concessions granted to a new tenant. The Landlord has the right to collect all rents and other payments from any reletting. The Landlord shall not be responsible or liable for any delay or inability to relet all or part of the Demised PremisesPremises or for the failure to collect any rent. In lieu of determining damages as described above, expenses of reletting including reasonable renovation and alteration of Landlord may elect to receive as damages the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If a) all Rent accrued through the date of termination of this Lease or of Tenant's right to possession possession, and b) an amount equal to the total Rent that Tenant would have been required to pay for the remainder of the Demised Term discounted to present value, minus the then present fair rental value of the Premises for the remainder of the Term, comparably discounted, after deducting all anticipated costs of reletting. If Tenant is terminated without termination in default of any of the non-financial duties under the Lease, Landlord shall be entitled have the right to enforce all perform such duties. Upon demand, Xxxxxx shall reimburse Landlord for the cost of such performance plus an administrative fee equal to ten percent (10%) of the cost of the work performed. Termination of Tenant's Lease or right to possession or Landlord's rights entry on all or part of the Premises shall not relieve Tenant of its duties and remedies liabilities under the Lease, including the . Each right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession remedy of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease separate and in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other right and remedy now available or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.

Appears in 1 contract

Samples: Form Commercial Lease

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault 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 haveproceeding 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 terminate remove and store all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease, or without terminating this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant the sum of: all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation Base Rent and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) accrued hereunder accrued to the date of such termination; the cost of reletting the whole or any part of the Premises, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination including without limitation brokerage fees and/or leasing commissions incurred by Landlord, plusand costs of removing and storing Tenant's or any other occupant's property, an amount equal repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit a new tenant or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time whentenants, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a all reasonable estimate of such other amounts necessary to compensate expenses incurred by Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid pursuing its remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident ; and the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the enforcement expiration date stated in this Lease, over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury xxxx rate at the date of such termination. If Landlord terminates Tenant's obligations hereunderright of possession (but not this Lease), Landlord may, but shall be under no obligation to, relet the Premises for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant. A receipt For the purpose of such reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of the rental reserved in this Lease for such period or periods, plus the cost of recovering possession of the Premises (including attorneys' fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord of rent with knowledge of to relet the breach of any covenant hereof Premises. If the Premises are relet and a sufficient sum shall not be deemed a waiver realized from such reletting [after first deducting therefrom, for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting, the cost of recovering possession (including attorneys' fees and costs of suit), all of the costs and expense of repairs, changes, alterations, and additions, the expense of such breach, reletting (including without limitation brokerage fees and no waiver by Landlord leasing commissions) and the cost of any provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality collection of the foregoing, no failure by Landlord rent accruing therefrom] to insist upon satisfy the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only rent provided for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease providedto be paid, then Xxxxx shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be entitled made upon demand therefor from time to seek a restraint by injunction of the violation or attempted or threatened violation of the covenantstime and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, conditions and provisions of Landlord may at any time thereafter elect in writing to terminate this LeaseLease for such previous breach.

Appears in 1 contract

Samples: Lease Agreement (1 800 Contacts Inc)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault 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 haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease, or without terminating this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant the sum of: all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation Base Rent and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) accrued hereunder accrued to the date of such termination; the cost of reletting the whole or any part of the Premises, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination including without limitation brokerage fees and/or leasing commissions incurred by Landlord, plusand costs of removing and storing Tenant's or any other occupant's property, an amount equal repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit a new tenant or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time whentenants, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a all reasonable estimate of such other amounts necessary to compensate expenses incurred by Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid pursuing its remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to ; and the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent with knowledge excess of the breach then present value of any covenant hereof shall not the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be deemed a waiver of such breach, and no waiver paid by Tenant to Landlord of any provisions during the period following the termination of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting measured from the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver date of such breach or any of termination to the terms of expiration date stated in this Lease, over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and no express waiver other market conditions affecting leasing. Such present values shall affect any default other than the default specified in the express waiver and that only for the time and be calculated at a discount rate equal to the extent therein stated90-day U.S. Treasury xxxx rate at the date of such termination. One or more waivers by 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 construed 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 of Landlord's leasing criteria. For the purpose of such reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then Tenant shall pay to Landlord as damages a waiver of a subsequent breach sum equal to the amount of the same covenant, term or condition. In addition to other remedies rental reserved in this Lease providedfor such period or periods, plus the cost of recovering possession of the Premises (including attorneys' fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord to relet the Premises. If the Premises are relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting, the cost of recovering possession (including attorneys' fees and costs of suit), all of the costs and expense of repairs, changes, alterations, and additions, the expense of such reletting (including without limitation brokerage fees and leasing commissions) and the cost of collection of the rent accruing therefrom] to satisfy the rent provided for in this Lease to be paid, then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be entitled made upon demand therefor from time to seek a restraint by injunction of the violation or attempted or threatened violation of the covenantstime and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, conditions and provisions of Landlord may at any time thereafter elect in writing to terminate this LeaseLease for such previous breach.

Appears in 1 contract

Samples: Lease Agreement (Streamline Com Inc)

Landlord’s Remedies. Upon the occurrence of an If any Event of DefaultDefault by Tenant under this Lease remains uncured after applicable notice and cure periods, Landlord, at its option, without further notice or demand to Tenant, may, in addition to all other rights or and remedies it may have, shall have the right to terminate provided in this Lease, or otherwise at law or in equity: (a) terminate this Lease and Xxxxxx's right of possession of the Premises, and recover all damages to which Landlord is entitled under law, specifically including, without limitation, accelerated Rent attributable to the balance of the Term, and all Landlord's reasonable expenses of reletting the Premises (including reasonable repairs, alterations, improvements, additions, decorations, legal fees and brokerage commissions), or (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 reasonably acceptable to Landlord. If Landlord shall elect to pursue its rights and remedies under Subsection (b), then Landlord shall at any time have the further right and remedy to rescind such election and pursue its rights and remedies under Subsection (a), including but not limited to such time as Landlord has obtained a tenant to relet the Premises, which, in Landlord's 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 reasonably necessary by Landlord. If the Premises are relet and a sufficient sum is not realized therefrom, after payment of all Landlord's reasonable expenses of reletting (including reasonable repairs, alterations, improvements, additions, decorations, legal fees and brokerage commissions), to satisfy the payment, when due, of Base Rent and Additional Rent reserved under the Lease for any monthly period, then Tenant shall, in Landlord's sole judgment, either (i) pay any such deficiency monthly or (ii) pay such deficiency on an accelerated basis, which accelerated deficiency shall be discounted at a rate of six percent (6%) per annum. If Landlord fails to relet the Premises, then Tenant shall pay to Landlord the sum of (i) the projected costs of Landlord's reasonable expenses of reletting (including the reasonably anticipated costs of repairs, alterations, improvements, additions, legal fees and brokerage commissions) as reasonably estimated by Landlord and (ii) the accelerated amount of Net Base Rent and Additional Rent due under the Lease attributable to the balance of the Term discounted at a rate of six percent (6%) per annum. Xxxxxx agrees that Landlord may file suit to recover any sums due to Landlord hereunder from time to time and that such suit or recovery of any amount due Landlord hereunder shall not be any defense to any subsequent action brought for any amount not theretofore reduced to judgment in favor of Landlord. In the event Landlord elects, pursuant to Subsection (b) of this Section 21.2, to terminate Tenant's right of possession only, without terminating this Lease, Landlord may, at Landlord's option, enter into the Premises, remove Xxxxxx's Property, Xxxxxx's signs and other evidences of tenancy, and take and hold possession thereof as provided in Section 19 hereof; provided, however, that such entry and possession shall not terminate this Lease or release Tenant, in whole or in part, from Xxxxxx's right obligation to possession pay the Rent reserved hereunder for the full Term, or from any other obligation of Tenant under this Lease (except to the extent Landlord shall be able to mitigate its damages as described above). Any and all property that may be removed from the Premises by Landlord pursuant to the authority of the Demised PremisesLease 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 either no event or circumstance shall Landlord be responsible for the value, preservation or safekeeping thereof. Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and 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 sum same shall be in Landlord's possession or under Xxxxxxxx's control. Any such property of Tenant not retaken from storage by Tenant within forty-five (45) days after the end of the Term, however terminated, shall be conclusively presumed to have been conveyed by Tenant to Landlord under this Lease as in a bill of sale, without further payment or credit by Xxxxxxxx to Tenant. Upon default and expiration of all rent and other payments owed cure periods, Tenant hereby grants to date Landlord a first lien upon the interest of Tenant under this Lease to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to secure the date payment of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended moneys due under this Lease, which lien may be enforced in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for equity; and obtain, as damages by reason of such expiration or 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition matter of right to the aforesaid remedies, Landlord shall be entitled have a receiver appointed to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions take possession of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of relet the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction under order of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Leasecourt.

Appears in 1 contract

Samples: Golden Books Family Entertainment Inc

Landlord’s Remedies. Upon the 31. After occurrence of an Event of DefaultDefault by Tenant, Landlord, at Landlord's option and without further notice or demand, except as provided below in addition this section, may do any of the following: a. Reenter and resume possession of the Premises without termination of this Lease; evict, remove and put out Tenant or any other persons who might be in possession of, or present at, the Premises, together with all personal property found at the Premises; and attempt to relet the Premises as Tenant's agent in an effort to mitigate Landlord's damages. Landlord shall receive the rental income from any reletting of the Premises as Tenant's agent and shall apply it to the payment of, first, amounts, other rights than rent, owed by Tenant to Landlord under this Lease; second, to the reasonable costs of any repair, renovation, remodeling, redecorating and advertising of the Premises, brokerage fees and other costs associated with Landlord's efforts to relet the Premises; and third, rent due, and to become due, under this Lease; b. Give Tenant notice that this Lease is terminated effective the date stated in the notice; reenter and resume possession of the Premises for Landlord's own benefit, free of this Lease; and evict, remove and put out Tenant or remedies it may haveany other persons who might be in possession of, shall have or present at, the right to terminate Premises, together with all of Tenant's Property and all other personal property found at the Premises. If Landlord terminates this Lease, or without terminating this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency Landlord for unpaid rent and for all other sums due under this Lease through the date of termination shall be calculated and paid monthly. No such reentry or taking possession determined as of the Demised Premises by Landlord date this Lease is terminated and shall be construed as an election on its part paid by Tenant to terminate this LeaseLandlord upon demand. Additionally, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewithupon demand, Tenant shall be liable and shall obligated to pay to LandlordLandlord (1) the present value, the sum determined as of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount this Lease is terminated and discounted at a rate per annum equal to the present value discounted at interest rate on a United States Treasury obligation with a maturity equal or closest to the Federal Reserve discount rate remaining term of this Lease, plus two hundred (i200) basis points, of the total rental payments hereunder difference between the amount of rent reserved for the remaining portion balance of the term of this Lease and the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market reasonable rental value of the Demised Premises for such remaining the same period. Nothing herein contained shall limit or prejudice the right ; and (2) all costs incurred by Landlord for repair of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal damage to the maximum allowed Premises caused 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 connection with Tenant's or not such amount be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now person's occupying or hereafter available to Landlord at equity or under vacating the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms after termination of this Lease. All other obligations of Tenant that would have come due if this Lease had not been terminated, and no express waiver except for Default Expenses, shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed terminate as a waiver of a subsequent breach of the same covenant, term or condition. In addition date this Lease is terminated; c. Perform any obligation of Tenant under this Lease necessary to remedy the Event of Default by Tenant; and d. Pursue any and all other remedies available at law or in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of equity that are not inconsistent with the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Birch Telecom Inc /Mo)

Landlord’s Remedies. Upon the occurrence of an any Event of Default, Landlord, in addition to the other rights or remedies it may have, shall have the immediate right of re entry without any additional notice to Tenant. Should Landlord elect to re enter, as herein provided, or should it take possession pursuant to legal proceedings or pursuant to any notice provided for by law, Landlord may either terminate this LeaseLease or it may from time to time, or without terminating this Lease, terminate Tenant's right to possession relet the Premises or any part thereof for the account of Tenant for such term or terms, which may be for a term shorter than or for a term extending beyond the Demised PremisesLease Term, and at such rental or rentals and on such other terms and conditions as Landlord, in either event Tenant shall immediately surrender possession its reasonable discretion, may deem advisable. Should Landlord at any time terminate this Lease as a result of the Demised Premises to Landlord and if Tenant fails to do soany Event of Default, Landlord may, without prejudice in addition to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such eventhave, Landlord shall be entitled to may recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering the Premises. In addition, should Landlord terminate this Lease, Landlord shall have the right to take possession of the Demised Tenant’s Equipment located at the Premises, expenses of reletting including reasonable renovation and alteration to recover as damages all costs incurred by Lender in connection with (a) removing and storing the Tenant’s Equipment, and (b) restoring the Premises following removal of the Demised PremisesTenant’s Equipment. Whether or not Landlord elects to terminate this Lease, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Landlord may terminate Tenant's ’s right to possession of the Demised Premises is terminated without by any lawful means, in which case all of Tenant’s rights in this Lease shall terminate and Tenant shall immediately surrender possession of the Premises to Landlord. Possession of the Premises includes possession of all Personal Property, patients, patient records, Facility business records, general intangibles and proceeds. Any termination of the Lease, this Lease by Landlord shall be entitled not in any event terminate Tenant’s obligation to enforce all of Landlord's rights pay rent and remedies under other amounts owed by Tenant pursuant to this Lease for the Lease, including full Lease Term. Landlord shall have the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Leaseworth, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoingaward, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of unpaid rent that had been earned at the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms termination of this Lease, and no express waiver shall affect any default other than (ii) the default specified in worth, at the express waiver time of the 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 the award exceeds the amount of the loss of rent that Tenant proves could have been reasonably or has actually been avoided by Landlord, and that only (iii) the worth, at the time of the award, of the amount by which the unpaid rents for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach balance of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction Term after the time of the violation or attempted or threatened violation award exceeds the amount of the covenantsloss of rent that Tenant proves could have been reasonably or actually has been avoided by Landlord, conditions and provisions (iv) any other amount, and court costs and reasonable attorneys’ fees, necessary to compensate Landlord for all detriment and damage proximately caused by Tenant’s default. The worth at the time of this Leasethe award as used in (i) and (ii) of the preceding sentence is to be computed by allowing interest at the maximum rate permitted by law (or twelve percent (12%) per annum if there is no maximum rate). The worth at the time Exhibit F - Form of Lease of the award as referred to in (iii) above is to be computed by discounting the amount at the annual discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus one percent (1%).

Appears in 1 contract

Samples: Purchase and Sale Agreement (Emeritus Corp\wa\)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault and so long as such Event of Default shall be continuing for more than five (5) days after Landlord has given notice of said default to Tenant, 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 with such demand or notice as is required by this Lease and Illinois law, to re-enter the Premises by forcible entry and detainer proceedings or any other rights action or remedies it may haveproceeding authorized by law and to remove Tenant and all persons and properly therefrom. If Landlord re-enters the Premises, 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. If Landlord terminates this Lease, Landlord may recover from Tenant the sum of: all Base Rent and all other amounts accrued hereunder to the date of such termination; the cost of reletting the whole or any part of the Premises, including without terminating limitation brokerage fees and/or leasing commissions incurred by Landlord, and costs of removing and storing Tenant’s or any other occupant’s property, repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to a new tenant or tenants, and all reasonable expenses incurred by Landlord in pursuing its remedies, including reasonable attorneys’ fees and court costs; and the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the expiration date stated in this Lease, terminate over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury bxxx rate at the date of such termination. If Landlord terminates Tenant's ’s right to of possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event(but not this Lease), Landlord shall use commercially reasonable efforts to relet the Premises for the account of Tenant for such rent and upon such terms as shall be entitled satisfactory to recover Landlord without thereby releasing Tenant from Tenant all reasonable damages incurred by Landlord by reason any liability hereunder and without demand or notice of any kind to Tenant. For the purpose of such Event reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of Defaultthe rental reserved in this Lease for such period or periods, including without limitation, plus the cost of recovering possession of the Demised Premises (including attorneys’ fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord to relet the Premises. If the Premises are relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, expenses for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting reletting, the cost of recovering possession (including reasonable renovation attorneys’ fees and alteration costs of suit), all of the Demised Premisescosts and expense of repairs, attorneyschanges, fees, real estate commissionsalterations, and any other sum additions, the expense of money, late charges such reletting (including without limitation brokerage fees and damages. If Tenant's right to possession leasing commissions) and the cost of collection of the Demised Premises is terminated without termination of rent accruing therefrom] to satisfy the Leaserent provided for in this Lease to be paid, then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be entitled made upon demand therefor from time to enforce all of Landlord's rights time and remedies under the Lease, including the right Tenant agrees that Landlord may file suit to recover the rent as it becomes any sums falling due hereunderfrom time to time. Should Landlord elect to relet the Demised Premises or Notwithstanding any part thereofsuch reletting without termination, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord any time thereafter elect in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part writing to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining periodprevious breach. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise 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 remedies should not preclude manner contrary to the simultaneous specific terms, provisions, and covenants of this Lease or later exercise as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord of any to enforce its rights pursuant to this Lease or all other rights at law or remedies. Tenant in equity, shall pay, upon demand, all not be a waiver of Landlord's costs, including reasonable attorneys' fees and court costs, incident ’s right to the enforcement enforce one or more of Tenant's obligations hereunderits rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provisions provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality Tenant waives all right of the foregoing, no failure redemption in case Tenant shall be dispossessed by Landlord to insist upon the performance a judgment or by warrant of any of the court or judge. The terms of this Lease “enter,” “re-enter,” “entry” or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of “re-entry,” as used in this Lease, are not restricted to their technical legal meanings. Any reletting of the Premises shall be on commercially reasonable terms and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein statedconditions. One or more waivers by Landlord shall not be construed as a waiver 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 a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Leasesuch reletting.

Appears in 1 contract

Samples: Lease Agreement (Sanfilippo John B & Son Inc)

Landlord’s Remedies. Upon After the occurrence of an Event of DefaultDefault by Tenant, Landlord, in addition to other rights or remedies it may have, Landlord shall have the right to terminate exercise the following remedies: (a) Landlord may, at its option, continue this LeaseLease in full force and effect, or without terminating this Lease, terminate Tenant's right to possession of the Demised Premises, in which event Landlord shall have the right to collect Basic Rent and all other rent and charges when due. In the alternative, Landlord shall have the right to peaceably re-enter the Premises on the terms set forth in either event Tenant shall immediately surrender possession subparagraph (b) below, but without such re-entry being deemed a termination of the Demised Premises Lease or an acceptance by Landlord of a surrender thereof. Landlord shall also have the right, at its option, from time to Landlord and if Tenant fails to do so, Landlord maytime, without prejudice terminating this Lease, to any other remedy it may have for possession or arrearage of rentalsrelet the Premises, 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, with or without legal proceedingsprocess, as the agent, and for the account, of Tenant upon such terms and conditions as Landlord may deem advisable in its sole and absolute discretion (which terms may be materially different from the terms of this Lease), in which event the rents received on such reletting shall be applied (i) first to the reasonable and actual expenses of such reletting and collection, including without being liable for prosecution limitation necessary renovation and alterations of the Premises, reasonable and actual attorneys' fees and any reasonable and actual real estate commissions paid, and (ii) thereafter toward payment of all sums due or to become due Landlord hereunder. If a sufficient amount to pay such expenses and sums shall not be realized or secured, then Tenant shall pay Landlord any claim such deficiency monthly, and Landlord may bring an action therefor as such monthly deficiency shall arise. Landlord shall not, in any event, be required to pay Tenant any sums received by Landlord on a reletting of the Premises in excess of the rent provided in this Lease, but such excess shall reduce any accrued present or damage future obligations of Tenant hereunder. Landlord's re-entry and reletting of the Premises without termination of this Lease shall not preclude Landlord from subsequently terminating this Lease as set forth below. (b) Landlord may terminate this Lease by written notice to Tenant specifying a date therefor, and this Lease shall then terminate on the date so specified as if such date had been originally fixed as the expiration date of the Term. In the event of such eventtermination, Landlord shall be entitled to recover from Tenant the worth at the time of the award of all reasonable damages incurred of the following: (i) Any obligation which has accrued prior to the date of termination, plus (ii) The amount of unpaid Basic Rent and all other charges which would have accrued after termination until the time of award. (iii) The amount of unpaid rent for the balance of the Term (excluding any option periods or portions thereof not previously exercised). As used in this Paragraph 20(b) the term, "worth at the time of the award," shall be computed by Landlord by reason allowing simple interest at the Default Rate for past due obligations, and using a discount rate equal to the federal discount rate per annum on anticipated future obligations, on the amount of the obligations payable on the date of such Event of Defaultcalculation. In the event this Lease shall be terminated as provided above, including without limitationby summary proceedings or otherwise, the cost of recovering Landlord, its agents, servants or representatives may immediately or at any time thereafter peaceably re-enter and resume possession of the Demised PremisesPremises and remove all persons and property therefrom, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdictionsummary dispossession proceedings. In the event Landlord terminates has any duty to mitigate damages hereunder following an Event of Default and in any action or claim by Landlord or Lender against Tenant due to breach of this Lease following an Event of Default, Landlord shall not be required to construct, repair, modify or install any improvements in accordance herewiththe Premises or to divide the Premises for multiple leaseholds in any way whatsoever. (c) Landlord may recover from Tenant, and Tenant shall be liable and shall pay to LandlordLandlord upon demand, as Additional Rent such reasonable and actual expenses as Landlord may incur in recovering possession of the sum Premises, placing the same in good order and condition and repairing the same for reletting, and all other reasonable and actual expenses, commissions and charges incurred by Landlord in exercising any remedy provided herein or as a result of all rent and other payments owed to date to Landlord, all sums owed to date to third parties any Event of Default by Tenant hereunder (including without limitationlimitation reasonable attorneys' fees), all Impositions) hereunder accrued provided that in no event shall Landlord be obligated to the date of incur any such termination, all amounts required expenses or take any such action in order to be spent by Landlord to fulfill any of mitigate Tenant's obligations damages. Except as provided in Paragraph 9 or 13(d), at any time upon prior notice to Tenant, Landlord and Lender shall have the right, but shall not be required, to pay such sums or do any act which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to requires the present value discounted at the Federal Reserve discount rate expenditure of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in monies which case such calculation shall may be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit necessary or prejudice the right of Landlord to prove for and obtain, as damages appropriate by reason of the failure or neglect of Tenant to comply with any of its obligations under this Lease (Landlord and Lender shall not, however, exercise any such expiration rights unless the failure or terminationneglect shall have ripened into an Event of Default), an amount equal and in the event of the exercise of such right by Landlord or Lender, Tenant agrees to pay to Landlord or Lender forthwith upon demand, as Additional Rent, all such sums including reasonable attorneys fees, together with interest thereon at the Default Rate. (d) The various rights and remedies reserved to Landlord herein, are cumulative, the rights and remedies described in Paragraph 20(a)-(d) shall survive termination of this Lease and Landlord may pursue any and all such rights and remedies and any other available to Landlord under applicable law or equity, whether at the same time or otherwise (to the maximum allowed by any statute or rule extent not inconsistent with specific provisions of law this Lease); provided, however, that no remedy of termination shall be available to Landlord except as expressly set forth in effect at Paragraph 20(b) after the time when, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to or less than the amount occurrence of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included Notwithstanding anything herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remediescontrary, Landlord shall be entitled expressly waives its right to pursue any other remedy now or hereafter available to Landlord at equity or under forcibly dispossess Tenant from the laws or judicial decisions of the state where the Demised Premises is located or by statute Premises, whether peaceably or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of without judicial process, such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation any "commercial lockout" or attempted or threatened violation of the covenants, conditions and any other provisions of this Leaseapplicable law which permit landlords to dispossess tenants from commercial properties without the benefit of judicial review. 21.

Appears in 1 contract

Samples: Ace Hardware Corp

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault and so long as such Event of Default shall be continuing for more than five (5) days after Landlord has given notice of said default to Tenant, 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 with such demand or notice as is required by this Lease and Illinois law, to re-enter the Premises by forcible entry and detainer proceedings or any other rights action or remedies it may haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease, Landlord may recover from Tenant the sum of: all Base Rent and all other amounts accrued hereunder to the date of such termination; the cost of relating the whole or any part of the Premises, including without terminating limitation brokerage fees and/or leasing commissions incurred by Landlord, and costs of removing and storing Tenant’s or any other occupant’s property, repairing, altering, remodeling, or otherwise pulling the Premises into condition acceptable to a new tenant or tenants, and all reasonable expenses incurred by Landlord in pursuing its remedies, including reasonable attorneys’ fees and court costs; and the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the expiration date stated in this Lease, terminate over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury bxxx rate at the date of such termination. If Landlord terminates Tenant's ’s right to of possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event(but not this Lease), Landlord shall use commercially reasonable efforts to relet the Premises for the account of Tenant far such rent and upon such terms as shall be entitled satisfactory to recover Landlord without thereby releasing Tenant from Tenant all reasonable damages incurred by Landlord by reason any liability hereunder and without demand or notice of any kind to Tenant. For the purpose of such Event reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of Defaultthe rental reserved in this Lease for such period or periods, including without limitation, plus the cost of recovering possession of the Demised Premises (including attorneys’ fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord to relet the Premises. If the Premises are relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, expenses for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting reletting, the cost of recovering possession (including reasonable renovation attorneys’ fees and alteration costs of suit), all of the Demised Premisescosts and expense of repairs, attorneyschanges, fees, real estate commissionsalterations, and any other sum additions, the expense of money, late charges such reletting (including without limitation brokerage fees and damages. If Tenant's right to possession leasing commissions) and the cost of collection of the Demised Premises is terminated without termination of rent accruing therefrom] to satisfy the Leaserent provided for in this Lease to be paid, then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be entitled made upon demand therefor from lime to enforce all of Landlord's rights time and remedies under the Lease, including the right Tenant agrees that Landlord may file suit to recover the rent as it becomes any sums falling due hereunderfrom time to time. Should Landlord elect to relet the Demised Premises or Notwithstanding any part thereofsuch reletting without termination, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord any time thereafter elect in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part writing to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining periodprevious breach. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise 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 remedies should not preclude manner contrary to the simultaneous specific terms, provisions, and covenants of this Lease or later exercise as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord of any to enforce its rights pursuant to this Lease or all other rights at law or remedies. Tenant in equity, shall pay, upon demand, all not be a waiver of Landlord's costs, including reasonable attorneys' fees and court costs, incident ’s right to the enforcement enforce one or more of Tenant's obligations hereunderits rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provisions provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality Tenant waives all right of the foregoing, no failure redemption in case Tenant shall be dispossessed by Landlord to insist upon the performance a judgment or by warrant of any of the court or judge. The terms of this Lease “enter,” “re-enter,” “entry” or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of “re-entry,” as used in this Lease, are not restricted to their technical legal meanings. Any reletting of the Premises shall be on commercially reasonable terms and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein statedconditions. One or more waivers by Landlord shall not be construed as a waiver 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 a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Leasesuch reletting.

Appears in 1 contract

Samples: Lease Agreement (Sanfilippo John B & Son Inc)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault 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 haveproceeding 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 terminate keep in place and use, or remove and store; all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease, or without terminating this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant the sum of: all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation Base Rent and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) accrued hereunder accrued to the date of such termination; the cost of reletting the whole or any part of the Premises, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination including without limitation brokerage fees and/or leasing commissions incurred by Landlord, plusand costs of removing and storing Tenant's or any other occupant's property, an amount equal repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit a new tenant or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time whentenants, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a all reasonable estimate of such other amounts necessary to compensate expenses incurred by Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid pursuing its remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident ; and the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the enforcement expiration date stated in this Lease, over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury bill xxxe at the date of such termination. If Landlord terminates Tenant's obligations hereunderright of possession (but not this Lease), Landlord may, but shall be under no obligation to, relet the Premises for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant. For the purpose of such reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of the rental reserved in this Lease for such period or periods, plus the cost of recovering possession of the Premises (including attorneys' fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord to relet the Premises. If the Premises are relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting, the cost of recovering possession (including attorneys' fees and costs of suit), all of the costs and expense of repairs, changes, alterations, and additions, the expense of such reletting (including without limitation brokerage fees and leasing commissions) and the cost of collection of the rent accruing therefrom] to satisfy the rent provided for in this Lease to be paid, then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be made upon demand therefor from time to time and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance of surrender of the Premises and/or a termination of this Lease by Landlord, whether by agreement or by operation of law, it being understood that such surrender and/or termination can be effected only by the written agreement of Landlord and Tenant. Any law, usage, or custom to the contrary notwithstanding, Landlord shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Landlord at any time to enforce its rights under this Lease strictly in accordance with same shall not be construed as having created a custom in any way or manner contrary to the specific terms, provisions, and covenants of this Lease or as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord to enforce its rights pursuant to this Lease or at law or in equity, shall not be a waiver of Landlord's right to enforce one or more of its rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provisions provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting To the generality greatest extent permitted by law, Tenant waives the service of the foregoingnotice of Landlord s intention to re-enter as provided for in any statute, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Leaseinstitute legal proceedings to that end, and no express waiver also waives all right of redemption in case Tenant shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.be

Appears in 1 contract

Samples: Lease Agreement (Stuart Entertainment Inc)

Landlord’s Remedies. Upon The landlord shall have the occurrence following remedies if Tenant commits a default under this Lease. These remedies are not exclusive but are cumulative and in addition to any remedies now or hereafter allowed by law. Landlord can continue this Lease in full force and effect and the Lease will continue in effect so long as Landlord does not terminate Tenant’s right to possession, and the Landlord shall have the right to collect rent when due. During the period that Tenant is in default, Landlord can enter the Premises and relet them or any part of an Event them, to third parties for Tenant’s account. Tenant shall be liable immediately to the Landlord for all costs the Landlord incurs in reletting the premises, including without limitation, brokers’ commissions, expenses of Defaultremodeling the Premises required by the reletting and like costs. Reletting can be for a period shorter or longer than the remaining term of this Lease. 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. No act by Landlord allowed by this paragraph shall terminate this Lease unless Landlord notifies Tenant that Landlord elects to terminate this Lease. After Tenant’s default and for so long as Landlord has not terminated Tenant a right to possession of the Premises if Tenant obtains Landlord’s consent. Tenant shall have the right to assume or sublet its interest in the Lease, but Tenant shall not be released from liability. Landlord’s consent to the proposed assignment or subletting shall not be unreasonably withheld. If Landlord elects to relet the Premises in this paragraph, any rent that Landlord receives from such reletting shall apply first to the payment of any indebtedness from Tenant to Landlord other than the rent due from Tenant to Landlord, secondly, to all costs, including maintenance incurred by Landlord in such reletting and third, to any rent due and unpaid under this Lease. After deducting the payments referred to in this paragraph, any sum remaining from the rent Landlord receives from such reletting shall be held by Landlord and applied in payment of future rent as rent becomes due under this Lease. In no event 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 that rent due on that date, Tenant shall pay to Landlord, in addition to other rights or remedies it may havethe remaining rent due, all costs including maintenance, that Landlord shall have incurred in reletting that remain after applying the right to terminate rent received from reletting as provided in this Leaseparagraph. Landlord can, or without terminating this Leaseat its option, terminate Tenant's ’s right to possession of the Demised Premises at any time. No act by landlord other than giving written notice to Tenant shall terminate this lease. Acts of maintenance, efforts to relet the Premises, and or the appointment of a receiver on Landlord’s initiative to protect Landlord’s interest in either event Tenant this Lease shall immediately surrender possession not constitute a termination of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's ’s right to possession in the event of the Demised Premises is terminated without termination of the Leasesuch termination, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including has the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.:

Appears in 1 contract

Samples: Commercial Lease (View Systems Inc)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault 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 haveproceeding 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 terminate remove and store all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease, or without terminating this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant the sum of: (i) all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation Base Rent and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) accrued hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less ; (ii) the fair market rental value cost of reletting the whole or any part of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtainPremises, as damages including without limitation brokerage fees and/or leasing commissions incurred by reason of such expiration or termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time whenLandlord, and governing costs of removing and storing Tenant's or any other occupant's property, repairing, altering, remodeling, or otherwise putting the proceedings in whichPremises into condition acceptable to a new tenant or tenants, such damages are to be proved, whether or not such amount be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a all reasonable estimate of such other amounts necessary to compensate expenses incurred by Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid pursuing its remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to ; and (iii) the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent with knowledge excess of the breach then present value of any covenant hereof shall not the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be deemed a waiver of such breach, and no waiver paid by Tenant to Landlord of any provisions during the period following the termination of this Lease measured from the date of such termination to the expiration date stated in this Lease, over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing; provided, however, in no event shall Tenant be deemed liable under the computation provided for in this subparagraph (iii) for an amount greater than the amount equal to have been made unless expressed in writing and signed by Landlord. Without limiting the generality sum of the foregoing, no failure Base Rent and Operating Expenses payable for 12 months by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of Tenant under the terms of this Lease. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury xxxx rate at the date of such termination. If Landlord terminates Tenant's right of possession (but not this Lease), Landlord shall use commercially reasonable efforts to relet the Premises for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant; 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 no express waiver (c) any proposed tenant shall affect meet all of Landlord's leasing criteria. For the purpose of such reletting Landlord is authorized to make any default repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of the rental reserved in this Lease for such period or periods, plus the cost of recovering possession of the Premises (including attorneys' fees and costs of suit), the unpaid Base Rent and other than the default specified in the express waiver and that only for amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord to relet the Premises. If the Premises are relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting, the cost of recovering possession (including attorneys' fees and costs of suit), all of the costs and expense of repairs, changes, alterations, and additions, the expense of such reletting (including without limitation brokerage fees and leasing commissions) and the cost of collection of the rent accruing therefrom] to satisfy the rent provided for in this Lease to be paid, then Tenant shall immediately satisfy and pay any such deficiency. 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 extent therein stated. One or more waivers by 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 a Landlord's right to enforce one or more of its rights in connection with any subsequent breach of the same covenant, term or conditiondefault. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.A receipt

Appears in 1 contract

Samples: Lease Agreement (Graham Field Health Products Inc)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault 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 haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease, or without terminating this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant the sum of: all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation Base Rent and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) accrued hereunder accrued to the date of such termination; the cost of reletting the whole or any part of the Premises, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination including without limitation brokerage fees and/or leasing commissions incurred by Landlord, plusand costs of removing and storing Tenant's or any other occupant's property, an amount equal repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit a new tenant or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time whentenants, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate all expenses incurred by Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid pursuing its remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident ; and the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the enforcement expiration date stated in this Lease. Such present value shall be calculated at a discount rate equal to the 90-day U.S. Treasury xxxx rate at the date of such termination. If Landlord terminates Tenant's obligations hereunderright of possession (but not this Lease), Landlord may, but shall be under no obligation to, relet the Premises for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant. A receipt For the purpose of such reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of the rental reserved in this Lease for such period or periods, plus the cost of recovering possession of the Premises (including attorneys' fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord to relet the Premises. If the Premises are relet and a sufficient sum shall not be realized from such reletting (after first deducting therefrom, for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting, the cost of recovering possession (including attorneys' fees and costs of suit), all of the costs and expense of repairs, changes, alterations, and additions, the expense of such reletting (including without limitation brokerage fees and leasing commissions) and the cost of collection of the rent accruing therefrom) to satisfy all rental provided for in this Lease to be paid, then Tenant shall immediately satisfy and Pay any such deficiency. 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 rent with knowledge of the breach of any covenant hereof 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 waiver of such breach, and no waiver by Landlord of any provisions termination of this Lease shall be deemed to have been made unless expressed in writing and signed 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. Without limiting the generality of the foregoingAny law, no failure by Landlord to insist upon the performance of any of the terms of this Lease usage, or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and custom to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease providedcontrary notwithstanding, Landlord shall be entitled to seek a restraint by injunction of have the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.right at all

Appears in 1 contract

Samples: Lease Agreement (United Stationers Supply Co)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault and so long as such Event of Default shall be continuing for more than five (5) days after Landlord has given notice of said default to Tenant, 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 with such demand or notice as is required by this Lease and Illinois law, to re-enter the Premises by forcible entry and detainer proceedings or any other rights action or remedies it may haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease, Landlord may recover from Tenant the sum of: all Base Rent and all other amounts accrued hereunder to the date of such termination; the cost of reletting the whole or any part of the Premises, including without terminating limitation brokerage fees and/or leasing commissions incurred by Landlord, and costs of removing and storing Tenant’s or any other occupant’s property, repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to a new tenant or tenants, and all reasonable expenses incurred by Landlord in pursuing its remedies, including reasonable attorneys’ fees and court costs; and the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the expiration date stated in this Lease, terminate over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury bxxx rate at the date of such termination. If Landlord terminates Tenant's ’s right to of possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event(but not this Lease), Landlord shall use commercially reasonable efforts to relet the Premises for the account of Tenant for such rent and upon such terms as shall be entitled satisfactory to recover Landlord without thereby releasing Tenant from Tenant all reasonable damages incurred by Landlord by reason any liability hereunder and without demand or notice of any kind to Tenant. For the purpose of such Event reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of Defaultthe rental reserved in this Lease for such period or periods, including without limitation, plus the cost of recovering possession of the Demised Premises (including attorneys’ fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord to relet the Premises. If the Premises are relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, expenses for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting reletting, the cost of recovering possession (including reasonable renovation attorneys’ fees and alteration costs of suit), all of the Demised Premisescosts and expense of repairs, attorneyschanges, fees, real estate commissionsalterations, and any other sum additions, the expense of money, late charges such reletting (including without limitation brokerage fees and damages. If Tenant's right to possession leasing commissions) and the cost of collection of the Demised Premises is terminated without termination of rent accruing therefrom] to satisfy the Leaserent provided for in this Lease to be paid, then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be entitled made upon demand therefor from time to enforce all of Landlord's rights time and remedies under the Lease, including the right Tenant agrees that Landlord may file suit to recover the rent as it becomes any sums falling due hereunderfrom time to time. Should Landlord elect to relet the Demised Premises or Notwithstanding any part thereofsuch reletting without termination, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord any time thereafter elect in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part writing to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining periodprevious breach. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise 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 remedies should not preclude manner contrary to the simultaneous specific terms, provisions, and covenants of this Lease or later exercise as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord of any to enforce its rights pursuant to this Lease or all other rights at law or remedies. Tenant in equity, shall pay, upon demand, all not be a waiver of Landlord's costs, including reasonable attorneys' fees and court costs, incident ’s right to the enforcement enforce one or more of Tenant's obligations hereunderits rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provisions provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality Tenant waives ail right of the foregoing, no failure redemption in case Tenant shall be dispossessed by Landlord to insist upon the performance a judgment or by warrant of any of the court or judge. The terms of this Lease “enter,” “re-enter,” “entry” or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of “re-entry,” as used in this Lease, are not restricted to their technical legal meanings. Any reletting of the Premises shall be on commercially reasonable terms and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein statedconditions. One or more waivers by Landlord shall not be construed as a waiver 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 a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Leasesuch reletting.

Appears in 1 contract

Samples: Lease Agreement (Sanfilippo John B & Son Inc)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault 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 haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease, or without terminating this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant the sum of: all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation Base Rent and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) accrued hereunder accrued to the date of such termination; the cost of reletting the whole or any part of the Premises, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination including without limitation brokerage fees and/or leasing commissions incurred by Landlord, plusand costs of removing and storing Tenant's or any other occupant's property, an amount equal repairing, altering, remodeling, or otherwise putting the Premises into condition reasonably acceptable to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit a new tenant or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time whentenants, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a all reasonable estimate of such other amounts necessary to compensate expenses incurred by Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid pursuing its remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident ; and the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the enforcement expiration date stated in this Lease, over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury xxxx rate at the date of such termination. If Landlord terminates Tenant's obligations hereunderright 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 of Landlord's reasonable leasing criteria. For the purpose of such reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of the rental reserved in this Lease for such period or periods, plus the cost of recovering possession of the Premises (including attorneys' fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the reasonable costs incurred in any attempt by Landlord to relet the Premises. If the Premises are relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting, the reasonable cost of recovering possession (including attorneys' fees and costs of suit), all of the costs and expense of repairs, changes, alterations, and additions, the reasonable expense of such reletting (including without limitation brokerage fees and leasing commissions) and the reasonable cost of collection of the rent accruing therefrom] to satisfy the rent provided for in this Lease to be paid, then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be made upon demand therefor from time to time and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance of surrender of the Premises and/or a termination of this Lease by Landlord, whether by agreement or by operation of law, it being understood that such surrender and/or termination can be effected only by the written agreement of Landlord and Tenant. Any law, usage, or custom to the contrary notwithstanding, Landlord shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Landlord at any time to enforce its rights under this Lease strictly in accordance with same shall not be construed as having created a custom in any way or manner contrary to the specific terms, provisions, and covenants of this Lease or as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord to enforce its rights pursuant to this Lease or at law or in equity, shall not be a waiver of Landlord's right to enforce one or more of its rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provisions provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.To the

Appears in 1 contract

Samples: Lease Agreement (Select Comfort Corp)

Landlord’s Remedies. Upon In the occurrence event of an Event a default by Tenant, after the expiration of Default, Landlordany applicable grace period, in addition to any and all other rights remedies available to Landlord at law or remedies it may havein equity, shall have Landlord may: Terminate this Lease and any right of renewal and retake possession of the right to terminate this LeasePremises; Enter the Premises and relet the same or any part of the Premises in the name of Landlord, or without otherwise, as Tenant's agent, for a term shorter or longer than the balance of the Lease Term, and may grant concessions or free Rent in connection therewith, thereby terminating this Lease, terminate Tenant's right to possession possess the Premises, without terminating Tenant's obligations to pay (a) the entire balance of all forms of Annual Base Rent and Additional Rent for the remainder of the Demised Lease Term, plus (b) the Reletting Expenses, and (c) the unamortized balance of any allowances granted to Tenant under this Lease and the unamortized balance of the cost of any improvements to the Premises made by Landlord pursuant to a Tenant Improvement exhibit to this Lease. Landlord shall have no obligation to relet the Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails its failure to do so, or failure to collect Rent on reletting, shall not affect Tenant's liability under this Lease. Landlord mayshall not, without prejudice to in any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled required to recover from pay Tenant all reasonable damages incurred by Landlord by reason any surplus of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts sums received by Landlord on a reletting of the Premises in connection with such reletting excess of the Rent provided in this Lease. Any entry or re-entry by Landlord, whether had or taken under summary proceedings or otherwise, shall be applied not absolve or discharge Tenant from liability under this Lease. "Re-enter" and "re-entry" as used in such manner and this Lease are not restricted to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthlytheir technical legal meaning. No such reentry re-entry or taking possession of the Demised Premises by Landlord shall be construed as an election on its Landlord's part to terminate this Lease, Lease or to accept a surrender of the Premises unless a written notice of such intention be is given to Tenant or unless the termination thereof be decreed by a court of competent jurisdictionTenant. In the event Notwithstanding any such re-letting without termination, Landlord terminates may at all times thereafter elect to terminate this Lease for such previous default; Stand by and do nothing, and hold Tenant liable for all Annual Base Rent and Additional Rent payable under this Lease through the remainder of the Lease Term; Institute a distress for Rent action and obtain a distress writ pursuant to Sections 83.11 through 83.19, Florida Statutes (2002). Tenant expressly, knowingly, and voluntarily waives all constitutional, statutory, or common law bonding requirements, including the requirement under Section 83.12, Florida Statutes (2002), that Landlord file a bond payable to Tenant in accordance herewithat least double the sum demanded by Landlord (or double the value of the property sought to be distrained), Tenant it being the intention of the parties that no bond shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent filed by Landlord in any such distress action. Tenant further waives the right under Section 83.14, Florida Statutes (2002) to fulfill replevy distrained property; Obtain injunctive and declaratory relief, temporary or permanent, or both, against Tenant or any acts, conduct, or omissions of Tenant, and further to obtain specific performance of any term, covenant, or condition of this Lease; and After regaining possession of the Premises, remove all or any part of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to property from the present value discounted Premises and any property removed may be stored at the Federal Reserve discount rate of (i) the total rental payments hereunder cost of, and for the remaining portion of the term of the Leaseaccount of, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time whenTenant, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver responsible for the care or safekeeping of a subsequent breach such property whether in transport, storage, or otherwise, and Tenant waives any and all claims against Landlord for loss, destruction, damage, or injury which may be occasioned by any of the same covenant, term or conditionaforesaid acts. In addition Landlord may retain possession of such property until all storage charges and all other amounts owed by Tenant to other remedies Landlord under this Default section have been paid in full. Nothing set forth in this Lease provided, subsection shall limit Landlord's rights to enforce any statutory lien in favor of Landlord shall be entitled to seek a restraint by injunction against any such property of the violation or attempted or threatened violation of the covenants, conditions and provisions of this LeaseTenant.

Appears in 1 contract

Samples: Asa International LTD

Landlord’s Remedies. Upon the occurrence of an Event of Default, Landlordany default above described, in addition to all other rights and elections provided in this Lease, and all other legal or equitable remedies it available to Landlord, Landlord may have, shall have the right by notice given elect to terminate this Lease, or terminate Tenant's right of possession without terminating this Lease, terminate Tenant's right to re-enter and retake possession of the Demised Premisesby summary proceeding or otherwise, and in either event expel Tenant and remove all property from the Premises without liability for any damages therefor. Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, enter upon and take possession of the Demised Premises and expel or remove Tenant and any other person who may then be occupying the Demised Premises or any part thereof, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights costs of re-entry, restoration, recovery and remedies under repossession and all rentals and additional rentals due for the balance of the Term. All rentals due for the balance of the Term shall be equal to the average annual minimum rentals or additional rentals payable by Tenant from the commencement of the Term to time of default, or during the preceding three full calendar years, whichever period is shorter. Landlord on its own behalf, if it terminates this Lease, including the right to recover the rent as or on behalf of Tenant if it becomes due hereunder. Should Landlord elect to relet the Demised Premises terminates Tenant's possession, may re-let all or any part thereofportion of the Premises for any period equal to, less than, or greater than the remaining Term, upon such terms and conditions and for such purposes as Landlord deems advisable. In so doing, Landlord may do so alter, remodel or otherwise change the Premises as it deems appropriate for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdictionre-letting. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such terminationdefault and subject to all applicable laws and rights of third parties, Landlord may seize and distrain any or all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal property on or in the Premises and sell the same and apply the proceeds to the present value discounted satisfaction of Tenant's obligations, and for this purpose, Tenant grants to landlord a security interest in and to all of the properly on the Premises at the Federal Reserve discount rate of (i) the total rental payments hereunder any time owned by Tenant, and Tenant appoints Landlord as its attorney-in-fact for the purpose of signing and filing of record said security interest. Any proceeds remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all after satisfaction of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed paid in accordance with proper judicial direction and/or to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this LeaseTenant.

Appears in 1 contract

Samples: Lease (Bard Holding, Inc.)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault and so long as such Event of Default shall be continuing, LandlordLandlord 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 addition equity. Upon the termination of this Lease or termination of Tenant's right of possession, it shall be lawful for Landlord to re-enter the Premises by summary dispossession proceedings or any other rights action or remedies it may have, shall have the right proceeding authorized by law and to terminate remove Tenant and all persons and property therefrom. If Landlord terminates this Lease, or without terminating this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant the sum of: all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation Base Rent and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) accrued hereunder accrued to the date of such termination; the cost of reletting the whole or any part of the Premises, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination including without limitation brokerage fees and/or leasing commissions incurred by Landlord, plusand costs of removing and storing Tenant's or any other occupant's property, an amount equal repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit a new tenant or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time whentenants, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a all reasonable estimate of such other amounts necessary to compensate expenses incurred by Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid pursuing its remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costscosts (provided, incident however, that Landlord shall only be entitled to recover that portion of any renovation and alterations costs of the Premises and any real estate commissions for any replacement lease as are actually paid by Landlord [collectively be referred to as the "Replacement Costs"] that bears the same proportion to the enforcement total amount of the Replacement Costs as the remaining Term of this Lease at the time of the commencement of such replacement lease bears to the total term of such replacement lease); and the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the expiration date stated in this Lease, over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury xxxx rate at the date of such termination. If Landlord terminates Tenant's obligations hereunderright of possession (but not this Lease), Landlord may, but shall be under no obligation to, relet the Premises for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant. For the purpose of such reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of the rental reserved in this Lease for such period or periods, plus the cost of recovering possession of the Premises (including attorneys' fees and costs of suite), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord to relet the Premises. If the Premises are relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting, the cost of recovering possession (including attorneys' fees and costs of suit), all of the costs and expense of repairs, changes, alterations, and additions [subject to the limitations set forth above], the expense of such reletting (including without limitation brokerage fees and leasing commissions [subject to the limitations set forth above]) and the cost of collection of the rent accruing therefrom] to satisfy the rent provided for in this Lease to be paid, then Tenant shall immediately satisfy and pay any such deficiency. 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. 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 provisions provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.

Appears in 1 contract

Samples: Lease Agreement (West Marine Inc)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault 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 haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises, If Landlord terminates this Lease, or without terminating this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant the sum of: all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation Base Rent and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) accrued hereunder accrued to the date of such termination; the cost of reletting the whole or any part of the Premises, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination including without limitation brokerage fees and/or leasing commissions incurred by Landlord, plusand costs of removing and storing Tenant's or any other occupant's property, an amount equal repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit a new tenant or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time whentenants, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a all reasonable estimate of such other amounts necessary to compensate expenses incurred by Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid pursuing its remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident ; and the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the enforcement expiration date stated in this Lease, over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury xxxx rate at the date of such termination. If Landlord terminates Tenant's obligations hereunderright 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 of Landlord's leasing criteria. Such reletting shall be for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant. For the purpose of such reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of the rental reserved in this Lease for such period or periods, plus the cost of recovering possession of the Premises (including attorneys' fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord to relet the Premises. If the Premises are relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting, the cost of recovering possession (including attorneys' fees and costs of suit), all of the costs and expense of repairs, changes, alterations, and additions, the expense of such reletting (including without limitation brokerage fees and leasing commissions) and the cost of collection of the rent -12- <PAGE> accruing therefrom] to satisfy the rent provided for in this Lease to be paid, then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be made upon demand therefor from time to time and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance of surrender of the Premises and/or a termination of this Lease by Landlord, whether by agreement or by operation of law, it being understood that such surrender and/or termination can be effected only by the written agreement of Landlord and Tenant. Any law, usage, or custom to the contrary notwithstanding, Landlord shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Landlord at any time to enforce its rights under this Lease strictly in accordance with same shall not be construed as having created a custom in any way or manner contrary to the specific terms, provisions, and covenants of this Lease or as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord to enforce its rights pursuant to this Lease or at law or in equity, shall not be a waiver of Landlord's right to enforce one or more of its rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provisions provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting To the generality greatest extent permitted by law, Tenant waives the service of the foregoingnotice of Landlord's intention to re-enter as provided for in any statute, no failure or to institute legal proceedings to that end, and also waives all right of redemption in case Tenant shall be dispossessed by Landlord to insist upon the performance a judgment or by warrant of any of the court or judge. The terms of this Lease "enter," "re-enter," "entry" or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of "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 no express waiver shall affect any default other conditions as Landlord in its sole discretion may determine (including without limitation a term different than the default specified in remaining Lease Term, rental concessions, alterations and repair of the express waiver Premises, lease of less than the entire Premises to any tenant and that only for leasing any or all other portions of the time and to Project before reletting the extent therein statedPremises). One or more waivers by Landlord shall not be construed as a waiver 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 a subsequent breach of such reletting. Notwithstanding any provision to the same covenant, term or condition. In addition to other remedies contrary in this Lease providedthe Lease, Landlord shall be entitled have no right to seek commence an unlawful detainer or eviction proceeding against Tenant until Tenant has received a restraint by injunction written notice from Landlord stating that an Event of the violation or attempted or threatened violation of the covenants, conditions and provisions Default (as defined under Paragraph 23 of this Lease) has occurred and that unless Tenant cures such default within five (5) days following receipt of such notice, Landlord shall have the right to commence an unlawful detainer or eviction proceeding against Tenant. 25.

Appears in 1 contract

Samples: Lease Agreement

Landlord’s Remedies. Upon If any default by Tenant continues uncured following notice of default for the occurrence period applicable to the default under the provisions of an Event of Defaultthis Lease, Landlord, Landlord shall have the following remedies in addition to other all rights and remedies provided by law or remedies it equity to which Landlord may have, shall have resort cumulatively or in the right to terminate this Lease, or without terminating this Lease, terminate alternative: A. Terminate Tenant's right to possession of the Demised PremisesPremises by any lawful means, in which case this Lease and in either event the term hereof shall terminate and Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage thereforLandlord. In such event, event Landlord shall be entitled to recover from Tenant all reasonable damages incurred Tenant: (i) the worth at the time of the 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 Landlord by reason which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of such Event rental loss that the Tenant proves could have been reasonably avoided; (iii) the worth at the time of Defaultaward of the amount by which the unpaid rent for the balance of the term after the time of awards exceeds the amount of such rental loss that the Tenant proves could be reasonably avoided; and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by the Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including without limitation, but not limited to the cost of recovering possession of the Demised Premises, expenses of reletting reletting, including reasonable necessary renovation and alteration of the Demised Premises, reasonable attorneys, ' fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession that portion of the Demised Premises is terminated without termination leasing commission paid by Landlord applicable to the unexpired term of this Lease. The worth at the time of award of the Leaseamount 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 be entitled to enforce all of Landlord's rights and remedies under the Lease, including have the right to recover in such proceeding the unpaid rent and damages as it becomes due hereunder. Should are recoverable therein, or Landlord elect may reserve therein the right to relet the Demised Premises recover all or any part thereof, Landlord may do so thereof in a separate suit for such term rent and/or damages. If a notice and grace period are required under Section 10.2.A. or terms and at such rental B. was not previously given, a notice to pay rent or rentals and upon such other terms and conditions quit, or to perform or quit, as Landlord the case may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunderbe, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention 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 unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease B. in accordance herewith, Tenant shall be liable and shall pay to Landlordsuch case, the sum of all rent applicable grace period under Section 10.2.A. or B. and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of unlawful detainer statute shall run concurrently after the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulativeone such statutory notice, and the exercise or failure of Tenant to cure the commencement Default within the greater of the exercise by Landlord of any one or more of two such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant grace periods shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees constitute both an unlawful detainer and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions Breach of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by entitling Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only remedies provided for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint and/or by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Leasesaid statute.

Appears in 1 contract

Samples: Burke Industries Inc /Ca/

Landlord’s Remedies. Upon In the occurrence event of an Event of a Tenant's Default, Landlord, in addition to other rights or remedies it may have, Landlord shall have the right to terminate this Lease, Lease or without terminating this Lease, terminate Tenant's right to possession possession. Upon receipt of the Demised Premises, and in either event a notice of termination Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant Landlord. If Xxxxxx fails to do sosurrender the Premises, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, enter upon and take possession of the Demised Premises Premises, in compliance with law. Notwithstanding the foregoing, the Tenant shall pay Landlord all past due Rent and expel or remove Tenant other damages, losses and any other person who may be occupying the Demised Premises or any part thereof, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred expenses suffered by Landlord by reason as a result of such Event of Xxxxxx's Default. Those costs and expenses shall include the costs and expenses incurred in reletting or attempting to relet the Premises, including without limitationIncluding reasonable attorney's fees, brokerage fees, the cost of recovering possession physical alterations to the Premises and the reasonable value of other allowances or concessions granted to a new tenant. The landlord has the right to collect all rents and other payments from any reletting. The landlords shall not be responsible or liable for any delay or inability to relet all or part of the Demised PremisesPremises or for the failure to collect any rent. In lieu of determining damages as described above, expenses Landlord may elect to receive as damages the sum of reletting including reasonable renovation a) all rent accrued through the date of termination of this Lease or of Tenants' right to possession, and alteration b) an amount equal to the total Rent that Tenant would have been required to pay for the remainder of the Demised PremisesTerm discounted to present value, attorneysminus the then present fair rental value of the Premises for the remainder of the Term, feescomparably discounted, real estate commissions, and any other sum after deducting all anticipated costs of money, late charges and damagesreletting. If Tenant's right to possession Tenant is in default of any of the Demised Premises is terminated without termination of non-financial duties under the Lease, Landlord shall be entitled have the right to enforce all perform such duties. Upon demand, tenant shall reimburse Landlord for the cost of such performance plus an administrative fee equal to ten percent (10%) of the cost of the work performed. Termination of Tenant's Lease or right to possession or Landlord's rights entry on all or part of the Premises shall not relieve Tenant of its duties and remedies liabilities under the Lease, including the . Each right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession remedy of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease separate and in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other right and remedy now available or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.

Appears in 1 contract

Samples: Form Commercial Lease (Monterey Capital Acquisition Corp)

AutoNDA by SimpleDocs

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault and so long as such Event of Default shall he 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 haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease, or without terminating this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant the sum of: all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation Base Rent and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) accrued hereunder accrued to the date of such termination; the cost of reletting the whole or any part of (lie Premises, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination including without limitation brokerage fees and/or leasing commissions incurred by Landlord, plusand costs of removing and storing Tenant's or any other occupant's property, an amount equal repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit a new tenant or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time whentenants, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a all reasonable estimate of such other amounts necessary to compensate expenses incurred by Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid pursuing its remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident ; and the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the enforcement expiration date stated in this Lease, over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury xxxx rate at the date of such termination. If Landlord terminates Tenant's obligations hereunderright of possession (but not this Lease), Landlord may, but shall be tinder no obligation to, relet the Premises for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant. A receipt For the purpose of such reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of the rental reserved in this Lease for such period or periods, plus the cost of recovering possession of the Premises (including attorneys' fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord of rent with knowledge of to relet the breach of any covenant hereof Premises. If the Premises are relet and a sufficient sum shall not be deemed a waiver realized from such reletting [after first deducting therefrom, for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting, the cost of recovering possession (including attorneys' fees and costs of suit), all of the costs and expense of repairs, changes, alterations, and additions, the expense of such breach, reletting (including without limitation brokerage fees and no waiver by Landlord leasing commissions) and the cost of any provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality collection of the foregoing, no failure by Landlord rent accruing therefrom] to insist upon satisfy the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only rent provided for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease providedto be paid, then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be entitled made upon demand therefor from time to seek a restraint by injunction of the violation or attempted or threatened violation of the covenantstime and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, conditions and provisions of Landlord may at any time thereafter elect in writing to terminate this LeaseLease for such previous breach.

Appears in 1 contract

Samples: Lease Agreement (Americabilia Com Inc)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault and so long as such Event of Default shall be continuing, LandlordLandlord 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 addition 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, except as otherwise provided by applicable law, to re-enter the Premises by summary dispossession proceedings or any other rights action or remedies it may haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. Notwithstanding anything contained herein to the contrary, provided that Landlord receives written notice that Tenant has cured any non-monetary default under subparagraphs 23(ii) through 23(v) of this lease within ten (10) days after Landlord's notice to Tenant that such default has occurred, Landlord will not exercise any of its rights under this paragraph 24. If Landlord terminates this Lease, or without terminating this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant the sum of: all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation Base Rent and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) accrued hereunder accrued to the date of such termination; the cost of reletting the whole or any part of the Premises, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination including without limitation brokerage fees and/or leasing commissions incurred by Landlord, plusand costs of removing and storing Tenant's or any other occupant's property, an amount equal repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit a new tenant or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time whentenants, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a all reasonable estimate of such other amounts necessary to compensate expenses incurred by Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid pursuing its remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident ; and the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the enforcement expiration date stated in this Lease, over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury xxxx rate at the date of such termination. If Landlord terminates Tenant's obligations hereunderright of possesion (but not this Lease), Landlord may, but shall be under no obligation to, relet the Premises for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant. A receipt For the purpose of such reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of the rental reserved in this Lease for such period or periods, plus the cost of recovering possession of the Premises (including attorneys' fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord of rent with knowledge of to relet the breach of any covenant hereof Premises. If the Premises are relet and a sufficient sum shall not be deemed a waiver realized from such reletting [after first deducting therefrom, for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting, the cost of recovering possession (including attorneys' fees and costs of suit), all of the costs and expense of repairs, changes, alterations, and additions, the expense of such breach, reletting (including without limitation brokerage fees and no waiver by Landlord leasing commissions) and the cost of any provisions collection of the rent accruing therefrom] to satisfy the rent provided for in this Lease to be paid, then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be deemed made upon demand therefor from time to have been made unless expressed 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 and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of terminate this Lease or for such previous breach. If Landlord terminates Tenant's right to exercise any right or remedy consequent upon a breach thereof possession without terminating the Lease after an Event of Default, Landlord shall constitute a waiver of such breach or any of use commercially reasonable efforts to relet the terms of this LeasePremises; provided, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by however, (a) Landlord shall not be construed as a waiver of a subsequent breach of the same covenantobligated to accept any tenant proposed by Tenant, term or condition. In addition to other remedies in this Lease provided, (b) Landlord shall be entitled have the right to seek a restraint lease any other space controlled by injunction Landlord first, and (c) any proposed tenant shall meet all of the violation or attempted or threatened violation of the covenants, conditions and provisions of this LeaseLandlord's leasing criteria.

Appears in 1 contract

Samples: Lease Agreement (Americas Shopping Mall Inc)

Landlord’s Remedies. Upon The Landlord shall have the occurrence of an Event of Default, Landlord, following remedies if Tenant commits a default under this Lease. These remedies are not exclusive but are cumulative and in addition to other rights any remedies now or remedies it may havehereafter allowed by law. (1) Landlord can continue this Lease in full force and effect, and the Lease will continue in effect so long as Landlord does not terminate Tenant's right to possession, and the Landlord shall have the right to collect rent when due. During the period that Tenant is in default, Landlord can enter the Premises and relet them, or any part of them, to third parties for Tenant's account. Tenant shall be liable immediately to the Landlord for all costs the Landlord incurs in reletting the Premises, including, without limitation, broker's commissions, expenses of remodelling the Premises required by the reletting, and like costs. Reletting can be for a period shorter or longer than the remaining term of this Lease. 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. No act by Landlord allowed by this paragraph shall terminate this Lease, or without terminating Lease unless Landlord notifies Tenant that Landlord elects to terminate this Lease, terminate lease. After tenant's default and for so long as Landlord has not terminated Tenant's right to possession of the Demised Premises, and in either event if Tenant obtains Landlord's consent, Tenant shall immediately surrender possession of have the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of assign or sublet its interest in the Lease, Landlord but Tenant shall not be entitled to enforce all of released from liability. Landlord's rights and remedies under consent to the Lease, including the right to recover the rent as it becomes due hereunderproposed assignment or subletting shall not be unreasonably withheld. Should (2) If Landlord elect elects to relet the Demised Premises or as provided in this paragraph, any part thereof, rent that Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with receives from such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued apply first to the date payment of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages indebtedness from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.to

Appears in 1 contract

Samples: Easyriders Inc

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault 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 haveproceeding 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 terminate remove and store, all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease pursuant to this Xxxxxxxxx 00, Xxxxxxxx may recover from Tenant the sum of: all Base Rent and all other amounts accrued hereunder to the date of such termination; the cost of reletting the whole or any part of the Premises, including without limitation brokerage fees and/or leasing commissions incurred by Landlord, and costs of removing and storing Tenant’s or any other occupant’s property, repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to a new tenant or tenants, and all reasonable expenses incurred by Landlord in pursuing its remedies, including reasonable attorneys’ fees and court costs; and the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the expiration date stated in this Lease, or without terminating over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury xxxx rate at the date of such termination. If Landlord terminates Tenant’s right of possession (but not this Lease, terminate Tenant's right Lease pursuant to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such eventthis Paragraph 24), Landlord shall use commercially reasonable efforts to relet the Premises; provided, however, (a) Landlord shall not be entitled obligated to recover from Tenant all reasonable damages incurred accept any tenant proposed by Tenant, (b) Landlord shall have the right to lease any other space controlled by Landlord by reason first, (c) any proposed tenant shall meet all of Landlord’s criteria, and (d) such reletting shall not release Tenant from any liability hereunder and may be done without demand or notice of any kind to Tenant. For the purpose of such Event reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of Defaultthe rental reserved in this Lease for such period or periods, including without limitation, plus the cost of recovering possession of the Demised Premises (including attorneys’ fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord to relet the Premises. If the Premises are relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, expenses for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting reletting, the cost of recovering possession (including reasonable renovation attorneys’ fees and alteration costs of suit), all of the Demised Premisescosts and expense of repairs, attorneyschanges, fees, real estate commissionsalterations, and any other sum additions, the expense of money, late charges such reletting (including without limitation brokerage fees and damages. If Tenant's right to possession leasing commissions) and the cost of collection of the Demised Premises is terminated without termination of rent accruing therefrom] to satisfy the Leaserent provided for in this Lease to be paid, then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be entitled made upon demand therefor from time to enforce all of Landlord's rights time and remedies under the Lease, including the right Tenant agrees that Landlord may file suit to recover the rent as it becomes any sums falling due hereunderfrom time to time. Should Landlord elect to relet the Demised Premises or Notwithstanding any part thereofsuch reletting without termination, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord any time thereafter elect in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part writing to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining periodprevious breach. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise 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 remedies should not preclude manner contrary to the simultaneous specific terms, provisions, and covenants of this Lease or later exercise as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord of any to enforce its rights pursuant to this Lease or all other rights at law or remedies. Tenant in equity, shall pay, upon demand, all not be a waiver of Landlord's costs, including reasonable attorneys' fees and court costs, incident ’s right to the enforcement enforce one or more of Tenant's obligations hereunderits rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provisions provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting To the generality greatest extent permitted by law, Tenant waives the service of the foregoingnotice of Landlord’s intention to re-enter as provided for in any statute, no failure or to institute legal proceedings to that end, and also waives all right of redemption in case Tenant shall be dispossessed by Landlord to insist upon the performance a judgment or by warrant of any of the court or judge. The terms of this Lease “enter,” “re-enter,” “entry” or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of “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 no express waiver shall affect any default other conditions as Landlord in its sole discretion may determine (including without limitation a term different than the default specified in remaining Lease Term, rental concessions, alterations and repair of the express waiver Premises, lease of less than the entire Premises to any tenant and that only for leasing any or all other portions of the time and to Project before reletting the extent therein statedPremises). One or more waivers by Landlord shall not be construed as a waiver 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 a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Leasesuch reletting.

Appears in 1 contract

Samples: Lease Agreement (Eye Care Centers of America Inc)

Landlord’s Remedies. Upon The Landlord shall have the occurrence of an Event of Default, Landlord, following remedies if Tenant commits a default under this Lease. These remedies are not exclusive but are cumulative and in addition to other rights any remedies now or remedies it may havehereafter allowed by law. Landlord can continue this Lease in full force and effect, and the Lease will continue in effect so long as Landlord does not terminate Tenant's right to possession, and the Landlord shall have the right to collect rent when due. During the period that Tenant is in default, Landlord can enter the Premises and relet them, or any part of them, to third parties for Tenant's account. Tenant shall be liable immediately to the Landlord for all costs the Landlord incurs in reletting the Premises, including, without limitation, brokers' commissions, expenses of remodeling the Premises required by the reletting, and like costs. Reletting can be for a period shorter or longer than the remaining term of this Lease. 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. No act by Landlord allowed by this paragraph shall terminate this Lease unless Landlord notifies Tenant that Landlord elects to terminate this Lease, or without terminating this Lease, terminate . After Tenant's default and for so long as Landlord has not terminated Tenant's right to possession of the Demised Premises, and in either event if Tenant obtains Landlord's consent, Tenant shall immediately surrender possession of have the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of assume or sublet its interest in the Lease, Landlord but Tenant shall not be entitled to enforce all of released from liability. Landlord's rights and remedies under consent to the Lease, including the right to recover the rent as it becomes due hereunderproposed assignment or subletting shall not be unreasonably withheld. Should If Landlord elect elects to relet the Demised Premises or as provided in this paragraph, any part thereof, rent that Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with receives from such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued apply first to the date payment of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages indebtedness from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.rent

Appears in 1 contract

Samples: Lease Agreement (Fair Isaac & Company Inc)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault 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 haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease pursuant to this Xxxxxxxxx 00, Xxxxxxxx may recover from Tenant the sum of: all Base Rent and all other amounts accrued hereunder to the date of such termination; the cost of reletting the whole or any part of the Premises, including without limitation brokerage fees and/or leasing commissions incurred by Landlord, and costs of removing and storing Tenant’s or any other occupant’s property, repairing, altering, remodeling, or otherwise putting the Premises into rentable condition, and all reasonable expenses incurred by Landlord in pursuing its remedies, including reasonable attorneys’ fees and court costs; and the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the expiration date stated in this Lease, or without terminating over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury xxxx rate at the date of such termination. If Landlord terminates Tenant’s right of possession (but not this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so), Landlord may, but shall be under no obligation to, relet the Premises for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without prejudice thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant. For the purpose of such reletting Landlord is authorized to make any other remedy it may have for possession repairs, changes, alterations, or arrearage of rentalsadditions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, enter upon and take possession then Tenant shall pay to Landlord as damages a sum equal to the amount of the Demised Premises and expel rental reserved in this Lease for such period or remove Tenant and any other person who may be occupying the Demised Premises or any part thereofperiods, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, plus the cost of recovering possession of the Demised Premises, expenses of reletting Premises (including reasonable renovation attorneys’ fees and alteration costs of suit), the unpaid accrued Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord to relet the Premises. If the Premises are relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting, the cost of recovering possession (including reasonable attorneys’ fees and costs of suit), all of the Demised Premisescosts and expense of repairs, attorneyschanges, fees, real estate commissionsalterations, and any other sum additions, the expense of money, late charges such reletting (including without limitation brokerage fees and damages. If Tenant's right to possession leasing commissions) and the cost of collection of the Demised Premises is terminated without termination of rent accruing therefrom] to satisfy the Leaserent provided for in this Lease to be paid, then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be entitled made upon demand therefor from time to enforce all of Landlord's rights time and remedies under the Lease, including the right Tenant agrees that Landlord may file suit to recover the rent as it becomes any sums falling due hereunderfrom time to time. Should Landlord elect to relet the Demised Premises or Notwithstanding any part thereofsuch reletting without termination, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord any time thereafter elect in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part writing to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining periodprevious breach. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise 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 remedies should not preclude manner contrary to the simultaneous specific terms, provisions, and covenants of this Lease or later exercise as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord of any to enforce its rights pursuant to this Lease or all other rights at law or remedies. Tenant in equity, shall pay, upon demand, all not be a waiver of Landlord's costs, including reasonable attorneys' fees and court costs, incident ’s right to the enforcement enforce one or more of Tenant's obligations hereunderits rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provisions provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the The terms of this Lease “enter,” “re-enter,” “entry” or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of “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 no express waiver shall affect any default other conditions as Landlord in its sole discretion may determine (including without limitation a term different than the default specified in remaining Lease Term, rental concessions, alterations and repair of the express waiver Premises, lease of less than the entire Premises to any tenant and that only for leasing any or all other portions of the time and to Project before reletting the extent therein statedPremises). One or more waivers by Landlord shall not be construed as a waiver 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 a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Leasesuch reletting.

Appears in 1 contract

Samples: Lease Agreement (Gtsi Corp)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault 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 with 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 haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease, Landlord may recover from Tenant the sum of: all Base Rent and all other amounts accrued hereunder to the date of such termination; the cost of reletting the whole or any part of the Premises, including without terminating limitation brokerage fees and/or leasing commissions incurred by Landlord, and costs of removing and storing Tenant’s or any other occupant’s property, repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to a new tenant or tenants, and all reasonable expenses incurred by Landlord in pursuing its remedies, including reasonable attorneys’ fees and court costs; and the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the expiration date stated in this Lease, terminate over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury xxxx rate at the date of such termination. If Landlord terminates Tenant's ’s right to of possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so(but not this Lease), Landlord may, but shall be under no obligation to, relet the Premises for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without prejudice thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant. For the purpose of such reletting Landlord is authorized to make any other remedy it may have for possession repairs, changes, alterations, or arrearage of rentalsadditions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, enter upon and take possession then Tenant shall pay to Landlord as damages a sum equal to the amount of the Demised Premises and expel rental reserved in this Lease for such period or remove Tenant and any other person who may be occupying the Demised Premises or any part thereofperiods, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, plus the cost of recovering possession of the Demised Premises (including attorneys’ fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord to relet the Premises. If the Premises are relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, expenses for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting reletting, the cost of recovering possession (including reasonable renovation attorneys’ fees and alteration costs of suit), all of the Demised Premisescosts and expense of repairs, attorneyschanges, fees, real estate commissionsalterations, and any other sum additions, the expense of money, late charges such reletting (including without limitation brokerage fees and damages. If Tenant's right to possession leasing commissions) and the cost of collection of the Demised Premises is terminated without termination of rent accruing therefrom] to satisfy the Leaserent provided for in this Lease to be paid, then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be entitled made upon demand therefor from time to enforce all of Landlord's rights time and remedies under the Lease, including the right Tenant agrees that Landlord may file suit to recover the rent as it becomes any sums falling due hereunderfrom time to time. Should Landlord elect to relet the Demised Premises or Notwithstanding any part thereofsuch reletting without termination, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord any time thereafter elect in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part writing to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining periodprevious breach. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise 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 remedies should not preclude manner contrary to the simultaneous specific terms, provisions, and covenants of this Lease or later exercise as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord of any to enforce its rights pursuant to this Lease or all other rights at law or remedies. Tenant in equity, shall pay, upon demand, all not be a waiver of Landlord's costs, including reasonable attorneys' fees and court costs, incident ’s right to the enforcement enforce one or more of Tenant's obligations hereunderits rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provisions provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting To the generality greatest extent permitted by law, Tenant waives the service of the foregoingnotice of Landlord’s intention to re-enter as provided for in any statute, no failure or to institute legal proceedings to that end, and also waives all right of redemption in case Tenant shall be dispossessed by Landlord to insist upon the performance a judgment or by warrant of any of the court or judge. The terms of this Lease “enter,” “re-enter,” “entry” or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of “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 no express waiver shall affect any default other conditions as Landlord in its sole discretion may determine (including without limitation a term different than the default specified in remaining Lease Term, rental concessions, alterations and repair of the express waiver Premises, lease of less than the entire Premises to any tenant and that only for leasing any or all other portions of the time and to Project before reletting the extent therein statedPremises). One or more waivers by Landlord shall not be construed as a waiver 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 a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Leasesuch reletting.

Appears in 1 contract

Samples: Lease Agreement (Leslies Poolmart Inc)

Landlord’s Remedies. Upon the occurrence of an Event of Defaultany default by Tenant under Section 9.01 beyond any applicable notice and cure period and continuance thereof, Landlord, in addition to other rights or remedies it may have, Landlord shall have the right to do and perform any one or more of the following, in addition to, and not in limitation of, any other right or remedy permitted Landlord under this Lease or at law or in equity: Continue this Lease in full force and effect through the stated Term of this Lease, and this Lease shall continue in full force and effect as long as Landlord does not terminate this Lease, and Landlord shall have the right to collect Rent, Additional Rent and other charges when due; Terminate this Lease and repossess the Leased Premises or terminate Tenant’s right to possession without terminating this LeaseLease and, terminate Tenant's right under either circumstance, be entitled to possession recover as damages a sum of money equal to the total of the Demised Premisesfollowing: the cost of recovering the Leased Premises (including, but not limited to, reasonable attorneys’ fees and in either event Tenant shall immediately surrender possession costs of the Demised Premises to Landlord suit); and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, enter upon and take possession of the Demised Premises and expel or remove Tenant unpaid Rent and any other person who sums accrued hereunder as of the date of Lease termination; and Base Rent and Additional Rent that would have been payable by Tenant pursuant to this Lease during the remainder of the Term but for the termination of this Lease, calculated on the current rate being paid by Tenant, less the amount of Base Rent and Additional Rent, if any, which Landlord shall actually receive during the remainder of the Term from other tenant(s) to whom the Leased Premises may be occupying the Demised Premises or any part thereof, with or without legal proceedings, without being liable for prosecution or any claim or damage thereforrented. In such event(To effectuate this provision, Landlord shall be entitled to recover from Tenant accelerate all Rent due during the remainder of the Term and receive a judgment for that amount, with a continuing obligation to credit the judgment with Rent which Landlord shall actually receive during the remainder of the Term minus costs associated with collecting that Rent.); and the reasonable damages incurred costs and expenses of removing and storing any of Tenant’s or any other occupant’s property left in the Leased Premises, Building or Property after the date of Lease termination or after the date of termination of possession; and the reasonable costs and expenses of refurbishing the Leased Premises to the condition necessary to attempt to re-lease the Leased Premises at the prevailing market rental rate, normal wear and tear excepted; and any brokerage fees or commissions payable by Landlord in connection with any re-leasing or attempted re-leasing; and all administrative costs and expenses in connection with any re-leasing or attempted re-leasing; and any increase in insurance premiums caused by reason of such Event of Default, including without limitation, the cost of recovering possession vacancy of the Demised Leased Premises, expenses ; and the amount of reletting including reasonable renovation and alteration any of the Demised Premises, attorneys, fees, real estate following unamortized costs and expenses: leasing commissions, Rent concessions, Tenant Improvement expenses, Tenant Improvement allowance or any other allowances, and concessions previously made by Landlord to Tenant; and, any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received damages owed by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, plus interest on (1) through (7) above at the sum rate of all rent and other payments owed the lesser of fifteen percent (15%) per annum or the highest rate allowed by applicable law. File suit to date recover any sums falling due under the terms of this Section 9.02, from time to Landlord, all sums owed to date to third parties (including without time within the applicable statutes of limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal no delivery to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise recovery by Landlord of any one or more of such rights or remedies should portion due Landlord shall be any defense in any action to recover any amount not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all theretofore reduced to judgment in favor of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist ; Enter upon the performance of any of the terms of this Lease or Leased Premises and do whatever Tenant is obligated to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of do under the terms of this Lease, and no express waiver Tenant shall affect reimburse Landlord on demand for any default other than the default specified reasonable expenses which Landlord may incur in the express waiver effecting compliance with Tenant’s obligations under this Lease plus fifteen percent (15%) of such cost to cover overhead, and Tenant expressly agrees that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver guilty of a subsequent breach trespass or liable for any damages resulting to Tenant from such action. No action taken by Landlord under this Section 9.02 shall relieve Tenant from any of its obligations under this Lease or from any consequences or liabilities arising from the failure to perform such obligations; Without waiving such default, apply all or any part of the same covenantLetter of Credit or any other security that may be provided; Change all door locks and other security devices of Tenant at the Leased Premises, term the Building and/or the Property, and Landlord shall not be required to provide the new key or conditionsecurity device to Tenant except during Tenant’s regular business hours, and only upon the condition that Tenant has cured any and all defaults hereunder, and in the case where Tenant owes Rent to Landlord, reimbursed Landlord for all Rent and other sums due Landlord hereunder. In addition Landlord, on terms and conditions satisfactory to other remedies Landlord in this Lease providedits sole, reasonable discretion, may upon request from Tenant’s employees, enter the Leased Premises for the purpose of retrieving therefrom personal property of such employees; however, Landlord shall have no obligation to do so. Request Tenant’s written acknowledgement (to be entitled provided to seek a restraint by injunction Landlord within ten (10) business days of Landlord’s request) that Tenant, through its default, has released possession of the violation or attempted or threatened violation of Leased Premises and that Landlord has the covenants, conditions and provisions of this Leaseright to lease the Leased Premises to a third party.

Appears in 1 contract

Samples: Lease Agreement (Trans1 Inc)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault 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 haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease, or without terminating this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant the sum of: all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation Base Rent and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) accrued hereunder accrued to the date of such termination; the cost of reletting the whole or any part of the Premises, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination including without limitation brokerage fees and/or leasing commissions incurred by Landlord, plusand costs of removing and storing Tenant's or any other occupant's property, an amount equal repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit a new tenant or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time whentenants, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a all reasonable estimate of such other amounts necessary to compensate expenses incurred by Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid pursuing its remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident ; and the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the enforcement expiration date stated in this Lease, over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury bill rate at the date of such termination. If Landxxxx terminates Tenant's obligations hereunderright 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 of Landlord's leasing criteria. For the purpose of such reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of the rental reserved in this Lease for such period or periods, plus the cost of recovering possession of the Premises (including attorneys' fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord to relet the Premises. If the Premises are relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting, the cost of recovering possession (including attorneys' fees and costs of suit), all of the costs and expense of repairs, changes, alterations, and additions, the expense of such reletting (including without limitation brokerage fees and leasing commissions) and the cost of collection of the rent accruing therefrom to satisfy the rent provided for in this Lease to be paid, then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be made upon demand therefor from time to time and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance of surrender of the Premises and/or a termination of this Lease by Landlord, whether by agreement or by operation of Law, it being understood that such surrender and/or termination can be effected only by the written agreement of Landlord and Tenant. Any law, usage, or custom to the contrary notwithstanding, Landlord shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Landlord at any time to enforce its rights under this Lease strictly in accordance with same shall not be construed as having created a custom in any way or manner contrary to the specific terms, provisions, and covenants of this Lease or as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord to enforce its rights pursuant to this Lease or at law or in equity, shall not be a waiver of Landlord's right to enforce one or more of its rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provisions provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting To the generality greatest extent permitted by law, Tenant waives the service of the foregoing, no failure by Landlord notice of Landlord's intention to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified re-enter as provided for in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.any

Appears in 1 contract

Samples: Lease Agreement (Innotrac Corp)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault and so long as such Event of Default shall be continuing, LandlordLandlord 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 addition equity. Upon the termination of this Lease or termination of Tenant's right of possession, it shall be lawful for Landlord to re-enter the Premises as provided by lawful summary dispossession proceedings or any other rights action or remedies it may haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease, or without terminating this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant the sum of: all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation Base Rent and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) accrued hereunder accrued to the date of such termination; the cost of reletting the whole or any part of the Premises, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination including without limitation brokerage fees and/or leasing commissions incurred by Landlord, plusand costs of removing and storing Tenant's or any other occupant's property, an amount equal repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit a new tenant or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time whentenants, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a all reasonable estimate of such other amounts necessary to compensate expenses incurred by Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid pursuing its remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident ; and the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the enforcement expiration date stated in this Lease, over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the ninety (90) day U.S. Treasury xxxx rate at the date of such termination. If Landlord terminates Tenant's obligations hereunderright of possession (but not this Lease), Landlord may, but shall be under no obligation to, relet the Premises for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant. A receipt For the purpose of such reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises, as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of the rental reserved in this Lease for such period or periods, plus the cost of recovering possession of the Premises (including attorneys' fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord of rent with knowledge of to relet the breach of any covenant hereof Premises. If the Premises are relet and a sufficient sum shall not be deemed a waiver realized from such reletting [after first deducting therefrom, for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting, the cost of recovering possession (including attorneys' fees and costs of suit), all of the costs and expense of repairs, changes, alterations, and additions, the expense of such breach, reletting (including without limitation brokerage fees and no waiver by Landlord leasing commissions) and the cost of any provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality collection of the foregoing, no failure by Landlord rent accruing therefrom] to insist upon satisfy the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only rent provided for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease providedto be paid, then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be entitled made upon demand therefore from time to seek a restraint by injunction of the violation or attempted or threatened violation of the covenantstime and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, conditions and provisions of Landlord may at any time thereafter elect in writing to terminate this LeaseLease for such previous breach.

Appears in 1 contract

Samples: Lease Agreement (4th Grade Films Inc)

Landlord’s Remedies. For so long as any Event of Default continues, Landlord may at any time elect to: (a) terminate this Lease, (b) terminate Tenant's right of possession of the Premises (but Tenant shall remain liable as hereinafter provided), and/or (c) pursue any other remedies at law or in equity. Upon the occurrence termination of an Event this Lease, or termination of DefaultTenant's right of possession, LandlordLandlord may, in addition to other rights without formal demand or remedies it may havenotice except as required by Legal Requirements, re-enter the Premises by any action or proceeding authorized by law, and remove Tenant, and all persons and property therefrom. If Landlord re- enters the Premises, Landlord shall have the right to terminate this Leasekeep in place, or without terminating this Leaseremove and store, terminate all property at the Premises at Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction’s expense. In the event Landlord terminates delivers three notices of an Event of Default under this Lease in accordance herewithany twelve-month period, Tenant any subsequent failure to comply with this Lease shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, deemed an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Immediate Event of Default. The parties hereby agree that a reasonable estimate term “Immediate Event of such Default” shall mean Tenant has no cure period, and Landlord may immediately pursue all of its remedies. If Landlord terminates this Lease, Landlord may recover from Tenant the sum of: (a) all Monthly Base Rent, Monthly Taxes, Monthly FOE, and all other amounts necessary payable by Tenant which have accrued as of the date of termination; (b) the value of the Monthly Base Rent for any periods of abated Monthly Base Rent; (c) the cost of reletting the Premises, including the unamortized brokerage fees and/or leasing commissions incurred by Landlord, costs of removing and storing property, repairing or altering the Premises to compensate the condition required by Tenant under this Lease; (d) all reasonable expenses incurred by Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid pursuing its remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs; and (v) the excess of the then present value of the Monthly Base Rent, incident Monthly Taxes, Monthly FOE, and other amounts payable by Tenant under this Lease applicable to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent with knowledge of period following the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provisions termination of this Lease through the Expiration Date, over the present value of any amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises during such period, taking into consideration the availability of acceptable tenants consistent with Landlord’s leasing criteria and other market conditions. Such present values shall be deemed calculated at a discount rate equal to have been made unless expressed in writing and signed by Landlord. Without limiting the generality 90-day U.S. Treasury xxxx rate at the date of the foregoing, no failure by termination. If Landlord to insist upon the performance terminates Tenant's right of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of possession (but not this Lease), Landlord shall use commercially reasonable efforts to relet the Premises without releasing Tenant from any liability hereunder and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and without notice to the extent therein stated. One or more waivers by Tenant; provided, however, (a) Landlord shall not be construed obligated to accept a Tenant-proposed tenant, and (b) Landlord shall have the right to lease any other space controlled by Landlord or Landlord’s affiliate first. Any reletting of the Premises shall be on terms and conditions acceptable to Landlord in its sole discretion. Landlord shall not be liable, nor shall Tenant's obligations be reduced as a waiver result of a subsequent breach of Landlord not reletting the same covenant, term or conditionPremises. In addition to other remedies in this Lease provided, Landlord shall be entitled have the right to seek make repairs, changes, alterations, or additions to the Premises as Landlord deems necessary in order to relet the Premises. If the Premises is not relet, then Tenant shall pay to Landlord, as damages, a restraint by injunction of sum equal to: (1) the violation or attempted or threatened violation of the covenantsMonthly Base Rent, conditions and provisions of this Lease.Monthly FOE, and

Appears in 1 contract

Samples: Chardan NexTech Acquisition 2 Corp.

Landlord’s Remedies. Upon the occurrence of Following an Event of Default, Landlord, in addition to other rights or remedies it may have, the provisions of this Section 16.2 shall apply. Landlord shall have the right right, at its sole option, to terminate this Lease. In addition, with or without terminating this Lease, Landlord may terminate Tenant's ’s right of possession, and re-enter and take possession of, the Premises. If necessary, Landlord may proceed to recover possession of the Demised PremisesPremises under applicable Laws, or by such other proceedings, including re-entry and possession, as may be applicable. If Landlord elects to terminate this Lease and/or elects to terminate Tenant’s right of possession, everything contained in this Lease on the part of Landlord to be done and performed shall cease without prejudice, however, to Tenant’s liability for all Base Rent, Additional Rent and other sums specified herein. Whether or not this Lease or Tenant’s right of possession is terminated or any suit is instituted, Tenant shall be liable for any Base Rent, Additional Rent, damages, or other sums that may accrue or be due prior to such default, and for all reasonable costs, fees, and expenses (including, without limitation, reasonable attorneys’ fees and costs, brokerage fees, and expenses incurred in either event Tenant shall immediately surrender enforcing any of Tenant’s obligations under the Lease or in placing the Premises in the same or better condition as exists on the Effective Date and free of debris, subject to normal wear and tear and in rentable condition, advertising expenses, and any concessions or allowances granted by Landlord) incurred by Landlord in pursuit of its remedies hereunder and/or in recovering possession of the Demised Premises and renting the Premises to others from time to time plus other actual damages suffered or incurred by Landlord on account of Tenant’s default (including, but not limited to, late fees or other charges incurred by Landlord under any Mortgage). Tenant also shall be liable for additional damages which at Landlord’s election shall be either one or a combination of the following to the extent permitted under applicable law: (a) an amount equal to the Base Rent and Additional Rent due or which would have become due from the date of Tenant’s default through the remainder of the Lease Term, less the amount of rental, if any, that Landlord receives during such period from others to whom the Premises may be rented (other than any Additional Rent received by Landlord as a result of any failure of such other person to perform any of its obligations to Landlord), which amount shall be computed and payable in monthly installments, in advance, on the first day of each calendar month following Tenant’s default and continuing until the date on which the Lease Term would have expired but for Tenant’s default, it being understood that separate suits may be brought from time to time to collect any such damages for any month(s) (and any such separate suit shall not in any manner prejudice the right of Landlord to collect any damages for any subsequent month(s)), or Landlord may defer initiating any such suit until after the expiration of the Lease Term (in which event such deferral shall not be construed as a waiver of Landlord’s rights as set forth herein and Landlord’s cause of action shall be deemed not to have accrued until the expiration of the Lease Term), and if Tenant fails Landlord elects to do so, Landlord may, without prejudice bring suits from time to any other remedy it may have for possession or arrearage of rentals, enter upon and take possession of time prior to reletting the Demised Premises and expel or remove Tenant and any other person who may be occupying the Demised Premises or any part thereof, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such eventPremises, Landlord shall be entitled to recover from Tenant all reasonable its full damages incurred by Landlord by reason of such Event of Default, including without limitation, through the cost of recovering possession date of the Demised Premisesaward of damages without regard to any Base Rent, expenses of reletting including reasonable renovation and alteration of the Demised PremisesAdditional Rent, attorneys, fees, real estate commissions, and any or other sum of money, late charges and damages. If Tenant's right sums that are or may be projected to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such upon reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant Premises; or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositionsb) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at of the Federal Reserve discount rate sum of (i) the total rental payments hereunder for the remaining portion amount, if any, by which (A) all Base Rent, Additional Rent, and other sums due or which would be due and payable under this Lease as of the term date of Tenant’s default through the end of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less scheduled Lease Term; exceeds (iiB) the fair market rental value of the Demised Premises over the same period, plus (ii) all expenses (including broker and attorneys’ fees) and value of all vacancy periods projected by Landlord to be incurred in connection with the reletting of the Premises. The present value shall be calculated using a discount factor equal to the yield of the United States Treasury Note or Bxxx, as appropriate, having a maturity period approximately commensurate to the remainder of the Lease Term, and such resulting amount shall be payable to Landlord in a lump sum on demand, it being understood that upon payment of such liquidated and agreed final damages, Tenant shall be released from further liability for payment of Base Rent under this Lease with respect to the period after the date of such payment. Landlord may bring suit to collect any such damages at any time after an Event of Default shall have occurred. In the event Landlord relets the Premises for such remaining perioda term extending beyond the scheduled expiration of the Lease Term, it is understood that Tenant will not be entitled to apply any base rent, additional rent or other sums generated or projected to be generated in the period extending beyond the scheduled expiration of the Lease Term (collectively, the “Extra Rent”) against Landlord’s damages. Similarly in proving the amount that would be received by Landlord upon a reletting of the Premises as set forth in clause (b)(ii) above, Tenant shall not take into account the Extra Rent. The provisions contained in this Section shall be in addition to, and shall not prevent the enforcement of, any claim Landlord may have against Tenant for anticipatory breach of this Lease. Nothing herein contained shall limit be construed to affect or prejudice the Landlord’s right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time whenprove, and governing claim in full, unpaid Base Rent and Additional Rent accrued prior to termination of this Lease. If Landlord is entitled, or Tenant is required, pursuant to any provision hereof to take any action upon the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to or less than the amount termination of the difference referred to above. Notwithstanding the foregoingLease Term, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled entitled, and Tenant shall be required, to take such Liquidated Damages from Tenant not as a penalty but as liquidated damagesaction also upon the termination of Tenant’s right of possession. In addition Notwithstanding anything to the aforesaid remediescontrary contained in this Section 16.2, Landlord shall be entitled agrees to pursue any other remedy now use reasonable efforts to mitigate Tenant’s damages to the extent required by law; provided, however, that Tenant agrees that Landlord’s reasonable efforts either to (I) relet the Premises, or hereafter available (II) to market for sale the Premises on terms acceptable to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident subject to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting constitute reasonable efforts on the generality part of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Leasemitigate Tenant’s damages.

Appears in 1 contract

Samples: Lease Agreement (Andina II Holdco Corp.)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault 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 haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease, or without terminating this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant the sum of: all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation Base Rent and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) accrued hereunder accrued to the date of such termination; the value of the Base Rent for any periods of abated Monthly Base Rent based on the Monthly Base Rent amount that immediately follows such period of abatement; the cost of reletting the whole or any part of the Premises, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination including without limitation brokerage fees and/or leasing commissions incurred by Landlord, plusand costs of removing and storing Tenant's or any other occupant's property, an amount equal repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit a new tenant or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time whentenants, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a all reasonable estimate of such other amounts necessary to compensate expenses incurred by Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid pursuing its remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident ; and the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the enforcement expiration date stated in this Lease, over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury xxxx rate at the date of such termination. If Landlord terminates Tenant's obligations hereunderright of possession (but not this Lease), Landlord may, but shall be under no obligation to, relet the Premises for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant. For the purpose of such reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of the rental reserved in this Lease for such period or periods, plus the cost of recovering possession of the Premises (including attorneys' fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord to relet the Premises. If the Premises are relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting, the cost of recovering possession (including attorneys' fees and costs of suit), all of the costs and expense of repairs, changes, alterations, and additions, the expense of such reletting (including without limitation brokerage fees and leasing commissions) and the cost of collection of the rent accruing therefrom] to satisfy the rent provided for in this Lease to be paid, then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be made upon demand therefor from time to time and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance of surrender of the Premises and/or a termination of this Lease by Landlord, whether by agreement or by operation of law, it being understood that such surrender and/or termination can be effected only by the written agreement of Landlord and Tenant. Any law, usage, or custom to the contrary notwithstanding, Landlord shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Landlord at any time to enforce its rights under this Lease strictly in accordance with same shall not be construed as having created a custom in any way or manner contrary to the specific terms, provisions, and covenants of this Lease or as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord to enforce its rights pursuant to this Lease or at law or in equity, shall not be a waiver of Landlord's right to enforce one or more of its rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provisions provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting To the generality greatest extent permitted by law, Tenant waives the service of the foregoingnotice of Landlord's intention to re-enter as provided for in any statute, no failure or to institute legal proceedings to that end, and also waives all right of redemption in case Tenant shall be dispossessed by Landlord to insist upon the performance a judgment or by warrant of any of the court or judge. The terms of this Lease "enter," "re-enter," "entry" or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of "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 no express waiver shall affect any default other conditions as Landlord in its sole discretion may determine (including without limitation a term different than the default specified in remaining Lease Term, rental concessions, alterations and repair of the express waiver Premises, lease of less than the entire Premises to any tenant and that only for leasing any or all other portions of the time and to Project before reletting the extent therein statedPremises). One or more waivers by Landlord shall not be construed as a waiver 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 a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Leasesuch reletting.

Appears in 1 contract

Samples: Lease Agreement

Landlord’s Remedies. Upon The Landlord shall have the occurrence following remedies if Tenant commits a default under this Lease. These remedies are not exclusive but are cumulative and in addition to any remedies now or hereafter allowed by law. Landlord can continue this Lease in full force and effect, and the Lease will continue in affect so long as Landlord does not terminate Tenant’s right to possession, and the Landlord shall have the right to collect rent when due. During the period that Tenant is in default, Landlord can enter the Premises and relet them, or any part of an Event them, to third parties for Tenant’s account. Tenant shall be liable immediately to the Landlord for all costs the Landlord incurs in reletting the Premises, including, without limitation, brokers’ commissions, expenses of Defaultremodeling the Premises required by the reletting, and like costs. Reletting can be for a period shorter or longer than the remaining term of this Lease. 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. No act by Landlord allowed by this paragraph shall terminate this Lease unless Landlord notifies Tenant that Landlord elects to terminate this Lease. After Tenant’s default and for so long as Landlord has not terminated Tenant’s right to possession of the Premises, if Tenant obtains Landlord’s consent, Tenant shall have the right to assume or sublet its interest in the Lease, but Tenant shall not be released from liability. Landlord’s consent to the proposed assignment or subletting shall not be unreasonably withheld. If Landlord elects to relet the Premises as provided in this paragraph, any rent that Landlord receives from such reletting shall apply first to the payment of any indebtedness from Tenant to Landlord other than the rent due from Tenant to Landlord; secondly, to all costs, including maintenance, incurred by Landlord in such reletting; and third, to any rent due and unpaid under this Lease. After deducting the payments referred to in this paragraph, any sum remaining from the rent Landlord receives from such reletting shall be held by Landlord and applied in payment of future rent as rent becomes due under this Lease. In no event 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 other rights or remedies it may havethe remaining rent due, all costs, including maintenance, that Landlord shall have incurred in reletting that remain after applying the right to terminate rent received from reletting as provided in this Leaseparagraph. Landlord can, or without terminating this Leaseat its option, terminate Tenant's ’s right to possession of the Demised Premises at any time. No act by Landlord other than giving written notice to Tenant shall terminate this Lease. Acts of maintenance, efforts to relet the Premises, and or the appointment of a receiver on Landlord’s initiative to protect Landlord’s interest in either this Lease shall not constitute a termination of Tenant’s right to possession. In the event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do sosuch termination, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including has the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.:

Appears in 1 contract

Samples: Commercial Lease (Aml Communications Inc)

Landlord’s Remedies. Upon the occurrence of Following an Event of Default, Landlord, in addition to other rights or remedies it may have, Landlord shall have the right right, at its sole option, to terminate this Lease. In addition, with or without terminating this Lease, Landlord may re-enter, terminate Tenant's ’s right to of possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, enter upon and take possession of the Demised Premises Leased Premises. The provisions of this Section 20 shall operate as a notice to quit, and expel or remove Tenant and hereby waives any other person who may be occupying notice to quit or notice of Landlord’s intention to re-enter the Demised Leased Premises or any part thereof, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice except as required by law. If necessary, Landlord may proceed to recover possession of the Leased Premises under applicable law, or by such intention other proceedings, including re-entry and possession, as may be given applicable. If Landlord elects to Tenant terminate this Lease and/or elects to terminate Tenant’s right of possession, everything contained in this Lease on the part of Landlord to be done and performed shall cease without prejudice, subject however, to Tenant’s liability for all Base Rent, Additional Rent and other sums specified herein. Whether or unless not this Lease and/or Tenant’s right of possession is terminated, Landlord shall have the termination thereof be decreed by a court right, at its sole option, to terminate any right of competent jurisdiction. In renewal, expansion, first offer or refusal and any right to purchase the event Landlord terminates Leased Premises contained in this Lease and to grant or withhold any consent or approval pursuant to this Lease in accordance herewithits sole and absolute discretion. Whether or not this Lease and/or Tenant’s right of possession is terminated or any suit is instituted, Tenant shall be liable for any Base Rent, Additional Rent, damages or other sum which may be due or sustained prior to such default, and shall pay to Landlordfor all costs, the sum of all rent fees and other payments owed to date to Landlordexpenses (including, all sums owed to date to third parties (including without limitationbut not limited to, all Impositions) hereunder accrued to the date of such terminationattorneys’ fees and costs, all amounts required to be spent by Landlord to fulfill brokerage fees, expenses incurred in enforcing any of Tenant's ’s obligations which Tenant did not fulfill prior to termination under the Lease or in placing the Premises in first-class rentable condition, advertising expenses, and any concessions or allowances granted by Landlord) incurred by Landlord in pursuit of its remedies hereunder and/or in recovering possession of the Leased Premises and renting the Premises to others from time to time plus other actual or consequential damages suffered or incurred by Landlord on account of Tenant’s default (including, plusbut not limited to, late fees or other charges incurred by Landlord under any Mortgage). Tenant also shall be liable for additional damages which at Landlord’s election shall be either one or a combination of the following: (a) an amount equal to the present value discounted at Base Rent and Additional Rent due or which would have become due from the Federal Reserve discount rate date of (i) Tenant’s default through the total rental payments hereunder for the remaining portion remainder of the term Term, less the amount of rental, if any, which Landlord receives during such period from others to whom the LeasePremises may be rented (other than any Additional Rent received by Landlord as a result of any failure of such other person to perform any of its obligations to Landlord), calculated as if such term the Expiration Date, unless Tenant has extended this Leasewhich amount shall be computed and payable in monthly installments, in which case such calculation shall be as if the term expires advance, on the final first day of each calendar month following Tenant’s default and continuing until the Extension date on which the Term then would have expired but for Txxxxx’s default, it being understood that separate suits may be brought from time to time to collect any such damages for any month(s) (and any such separate suit shall not in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or any manner prejudice the right of Landlord to prove collect any damages for and obtainany subsequent month(s)), as damages by reason of or Landlord may defer initiating any such suit until after the expiration or 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of Lease Term (in which event such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord deferral shall not be construed as a waiver of a subsequent breach Landlord’s rights as set forth herein and Landlord’s cause of action shall be deemed not to have accrued until the expiration of the same covenantTerm), term or condition. In addition and it being further understood that if Landlord elects to other remedies in this Lease providedbring suits from time to time prior to reletting the Leased Premises, Landlord shall be entitled to seek a restraint by injunction its full damages through the date of the violation award of damages without regard to any Base Rent, Additional Rent or attempted other sums that are or threatened violation may be projected to be received by Landlord upon reletting of the covenantsLeased Premises or (b) Landlord’s determination as to the fair market value and projected vacancy period shall be presumptively correct and Tenant shall have the burden of proving otherwise by clear and convincing evidence. Landlord may bring suit to collect any such damages at any time after an Event of Default shall have occurred. In the event Landlord relets the Leased Premises for a term extending beyond the scheduled expiration of the Term, conditions it is understood that Tenant will not be entitled to apply any base rent, additional rent or other sums generated or projected to be generated in the period extending beyond the scheduled expiration of the Term (collectively, the “Extra Rent”) against Landlord’s damages. Similarly in proving the amount that would be received by Landlord upon a reletting of the Leased Premises as set forth above, Tenant shall not take into account the Extra Rent. The provisions contained in this Section shall be in addition to, and provisions shall not prevent the enforcement of, any claim Landlord may have against Tenant for anticipatory breach of this Lease. Nothing herein shall be construed to affect or prejudice Landlord’s right to prove, and claim in full, unpaid Base Rent and Additional Rent accrued prior to termination of this Lease. If Landlord is entitled, or Tenant is required, pursuant to any provision hereof to take any action upon the termination of the Lease Term, then Landlord shall be entitled, and Tenant shall be required, to take such action also upon the termination of Tenant’s right of possession.

Appears in 1 contract

Samples: Lease Agreement (Greystone Logistics, Inc.)

Landlord’s Remedies. Upon In the occurrence event of an Event of Defaultany uncured default by Tenant under this Lease, Landlord, at its option, and after the proper notice and cure period, if any, as provided in Section 20.2 has expired, without further notice or demand to Tenant, may, in addition to all other rights or and remedies it may have, shall have the right to terminate provided in this Lease, or otherwise at law or in equity: (a) terminate this Lease and Tenant's right of possession of the Premises, and recover all damages to which Landlord is entitled under law, specifically including, without limitation, accelerated Rent attributable to the balance of the Term, and all Landlord's reasonable expenses of reletting the Premises (including necessary repairs, alterations, improvements, reasonable legal fees and brokerage commissions), or (b) terminate Tenant's right of possession of the Premises without terminating this Lease; provided, terminate Tenant's right however, that Landlord shall use its reasonable efforts, whether Landlord elects to possession of proceed under Subsections (a) or (b) above, to relet the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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 thereofthereof for the account of Tenant, with or without legal proceedings, without being liable for prosecution or any claim or damage thereforsuch rent and term and upon such terms and conditions as are reasonably acceptable to Landlord. In such event, If Landlord shall be entitled elect to recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's pursue its rights and remedies under Subsection (b), then Landlord shall at any time have the Leasefurther right and remedy to rescind such election and pursue its rights and remedies under Subsection (a), including the right but not limited to recover the rent such time as it becomes due hereunder. Should Landlord elect has obtained a tenant to relet the Demised Premises or any part thereofPremises, which, in Landlord's reasonable judgment, is a suitable tenant. For purposes of such reletting, Landlord may do so is authorized to repair, alter and improve the Premises to the extent deemed reasonably necessary by Landlord, in its sole and absolute discretion. If the Premises are relet and a sufficient sum is not realized therefrom, after payment of all Landlord's reasonable expenses of reletting (including repairs, alterations, improvements, reasonable legal fees and brokerage commissions), to satisfy the payment, when due, of Base Rent and Additional Rent reserved under the Lease for any monthly period, then Tenant shall, in Landlord's sole judgment, either (i) pay any such term deficiency monthly or terms and at (ii) pay such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting deficiency on an accelerated basis, which accelerated deficiency shall be applied in such manner and discounted at a rate of six percent (6%) per annum. If Landlord fails to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunderrelet the Premises, then Tenant shall pay such deficiency to Landlord the sum of (i) the projected costs of Landlord. Such deficiency shall be calculated 's reasonable expenses of reletting (including the anticipated costs of repairs, alterations, improvements, additions, reasonable legal fees and paid monthly. No such reentry or taking possession brokerage commissions) as reasonably estimated by Landlord and (ii) the accelerated amount of Base Rent and Additional Rent due under the Lease attributable to the balance of the Demised Premises by Term discounted at a rate of six percent (6%) per annum. Tenant agrees that Landlord may file suit to recover any sums due to Landlord hereunder from time to time and that such suit or recovery of any amount due Landlord hereunder shall not be construed as an election on its part any defense to terminate this Lease, unless a written notice any subsequent action brought for any amount not theretofore reduced to judgment in favor of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdictionLandlord. In the event Landlord terminates elects, pursuant to Subsection (b) of this Section 21.2, to terminate Tenant's right of possession only, without terminating the Lease, Landlord may, at Landlord's option, enter into the Premises, remove Tenant's Property, Tenant's signs and other evidences of tenancy, and take and hold possession thereof as provided in Section 19 hereof; provided, however, that such entry and possession shall not terminate this Lease or release Tenant, in accordance herewithwhole 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 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 liable and 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 sum same shall be in Landlord's possession or under Landlord's control. Any such property of all rent and other payments owed Tenant not retaken from storage by Tenant within thirty (30) days after the end of the Term, however terminated, shall be conclusively presumed to date have been conveyed by Tenant to LandlordLandlord under this Lease as in a bill xx sale, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent further payment or credit by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.

Appears in 1 contract

Samples: Sabratek Corp

Landlord’s Remedies. Upon All rights and remedies given to Landlord shall be distinct, separate, cumulative, and none shall exclude any other right or remedy allowed by law. If Tenant defaults on payment of rent (including any additional rental payment hereunder), and Tenant does not cure the occurrence default within ten (10) days after written demand for payment of an Event such rent, or if Tenant defaults in the prompt and full performance of Defaultany other provisions of this lease, Landlordand Tenant does not cure the default within thirty (30) days after written demand by Landlord that the default be cured (unless the default includes a hazardous condition, which shall be cured forthwith), Landlord gives Tenant notice to vacate on or before at least fourteen (14) days after the giving of such notice, or if Tenant shall be adjudicated bankrupt, insolvent, or make any assignment for the benefit of creditors, or a trustee or receiver is appointed for Tenant or any part of Tenant's property, or if the leasehold interest of the Tenant be levied upon under execution or be attached by process of law, or if Tenant abandons the premises, then and in addition to other rights any such event Landlord may, if Landlord so elects, but not otherwise, with or remedies it may havewithout notice or demand, shall have the right elect to terminate this Leaselease and Tenant's right to possession of the premises, or or, without terminating this Leaselease, to forthwith terminate Tenant's right to possession of the Demised Premises, premises and in either event case the Landlord may re-enter the premises, remove Tenant shall immediately surrender possession and its property and repossess the premises and may relet the same after making such repairs and doing such remodeling as Landlord deems reasonable to relet the premises. Tenant is not released of liability for rent (including any additional rent payment hereunder) or damages because the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to repossesses the premises or pursues any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage thereforavailable to it. In such event, Landlord shall be entitled apply the money derived from reletting to recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the rent due or to become due on this lease and to the cost of recovering possession repairing, remodeling, showing and advertising of the Demised Premises, expenses premises for the purpose of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Leasereletting, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received commissions incurred by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals attorneys fees and other amounts received from such reletting during any month be less than Tenant's obligations hereunderexpenses incurred by Landlord in connection with enforcing this lease, and the Tenant shall remain liable for any deficiency and agrees to pay the same. Landlord, in the event of such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession repossession may at the end of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for calendar month during the remaining portion of the term of the Leasedemand, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available receive and sue for, the monthly rent together with all expenses xxcurred in attempting to Landlord at equity or under relet if the laws or judicial decisions of premises are not relet, and if relet, the state where the Demised Premises is located or by statute or otherwisedeficiency resulting monthly from such reletting. All rights and remedies of Landlord herein enumerated Landlord's right to bring action shall be cumulative, multiple and several. Action brought to recover the exercise or the commencement of the exercise by Landlord of amount due for any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent with knowledge of the breach of any covenant hereof month shall not be deemed a waiver of such breach, and no waiver by prejudice or bar Landlord of from subsequent actions to recover the amount due for any provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Leasemonth.

Appears in 1 contract

Samples: Assignment of Lease (Plastics MFG Co)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault 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 haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease, or without terminating this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant the sum of: all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation Base Rent and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) accrued hereunder accrued to the date of such termination; the cost of reletting the whole or any part of the Premises, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination including without limitation brokerage fees and/or leasing commissions incurred by Landlord, plusand costs of removing and storing Tenant's or any other occupant's property, an amount equal repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit a new tenant or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time whentenants, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a all reasonable estimate of such other amounts necessary to compensate expenses incurred by Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid pursuing its remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident ; and the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the enforcement expiration date stated in this Lease, over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury bill xxxe at the date of such termination. If Landlord terminates Tenant's obligations hereunderright of possession (but not this Lease), Landlord may, but shall be under no obligation to, relet the Premises for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant. For the purpose of such reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of the rental reserved in this Lease for such period or periods, plus the cost of recovering possession of the Premises (including attorneys' fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord to relet the Premises. If the Premises are relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting the cost of recovering possession (including attorneys' fees and costs of suit), all of the costs and expense of repairs, changes, alterations, and additions, the expense of such reletting (including without limitation brokerage fees and leasing commissions) and the cost of collection of the rent accruing therefrom] to satisfy the rent provided for in this Lease to be paid, then Tenant shall immediately satisfy and pay any such deficiency. 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 failing due from time to time. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance of surrender of the Premises and/or a termination of this Lease by Landlord, whether by agreement or by operation of law, it being understood that such surrender and/or termination can be effected only by the written agreement of Landlord and Tenant. Any law, usage, or custom to the contrary notwithstanding, Landlord shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof, and the failure of Landlord at any time to enforce its rights under this Lease strictly in accordance with same shall not be construed as having created a custom in any way or manner contrary to the specific terms, provisions, and covenants of this Lease or as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord to enforce its rights pursuant to this Lease or at law or in equity, shall not be a waiver of Landlord's right to enforce one or more of its rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provisions provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting To the generality greatest extent permitted by law, Tenant waives the service of the foregoingnotice of Landlord's intention to re-enter as provided for in any statute, no failure or to institute legal proceedings to that end, and also waives all right of redemption in case Tenant shall be dispossessed by Landlord to insist upon the performance a judgment or by warrant of any of the court or judge. The terms of this Lease "enter," "re-enter," entry" or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of "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 no express waiver shall affect any default other conditions as Landlord in its sole discretion may determine (including without limitation a term different than the default specified in remaining Lease Term, rental concessions, alterations and repair of the express waiver Premises, lease of less than the entire Premises to any tenant and that only for leasing any or all other portions of the time and to Project before reletting the extent therein statedPremises). One or more waivers by Landlord shall not be construed as a waiver 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 a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.such reletting

Appears in 1 contract

Samples: Lease Agreement (Sterile Recoveries Inc)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault 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 format demand or notice of any kind, to re-enter the Premises by summary dispossession proceedings or any other rights action or remedies it may haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease, or without terminating this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant the sum of: all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation Base Rent and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) accrued hereunder accrued to the date of such termination; the cost of reletting the whole or any part of the Premises, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination including without limitation brokerage fees and/or leasing commissions incurred by Landlord, plusand costs of removing and storing Tenant's or any other occupant's property, an amount equal repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit a new tenant or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time whentenants, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a all reasonable estimate of such other amounts necessary to compensate eases incurred by Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid pursuing its remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to ; and the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent with knowledge excess of the breach then present value of any covenant hereof shall not the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be deemed a waiver of such breach, and no waiver paid by Tenant to Landlord of any provisions during the period following the termination of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting measured from the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver date of such breach or any of termination to the terms of expiration date stated in this Lease, over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and no express waiver other market conditions affecting leasing. Such present values shall affect any default other than the default specified in the express waiver and that only for the time and be calculated at a discount rate equal to the extent therein stated90-day U.S. Treasury bill rate at the date of such termination. One or more waivers by If Landlord termxxxxes 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 construed 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 of Landlord's leasing criteria. Such reletting shall be for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant. For the purpose of such reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then Tenant shall pay to Landlord as damages a waiver of a subsequent breach sum equal to the amount of the same covenant, term or condition. In addition to other remedies rental reserved in this Lease providedfor such period or periods, plus the cost of recovering possession of the Premises (including attorneys' fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord to relet the Premises. If the Premises are relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting, the cost of recovering possession (including attorneys' fees and costs of suit), all of the costs and expense of repairs, changes, alterations, and additions, the expense of such reletting (including without limitation brokerage fees and leasing commissions) and the cost of collection of the rent accruing therefrom] to satisfy the rent provided for in this Lease to be paid, then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be entitled made upon demand therefor from time to seek a restraint by injunction of the violation or attempted or threatened violation of the covenantstime and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, conditions and provisions of Landlord may at any time thereafter elect in writing to terminate this LeaseLease for such previous breach.

Appears in 1 contract

Samples: Lease Agreement (Celerity Group Inc)

Landlord’s Remedies. Upon the occurrence of an Event of Default, Landlord, in addition to other rights or remedies it may have, Landlord shall have all of the rights and remedies available to it under applicable law including, without limitation, the right to re-enter the Premises and remove all persons and property therefrom. Such property may be used by Landlord at the Premises or, at Landlord’s option, may be removed and stored in a public warehouse or elsewhere at Tenant’s sole cost. Should Landlord elect to re-enter as herein provided, or should it take possession of the Premises pursuant to legal proceeding, or pursuant to any notice provided by law, it may either terminate this Lease, or it may from time to time without terminating this Lease, terminate Tenant's right to possession of relet the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms term(s) and at such rental or rentals rental(s) and upon such other terms and conditions as Landlord in its sole discretion may deem appropriateadvisable. Rental and other amounts received by Landlord in connection with from such reletting shall be applied as follows: First, to the payment of all costs of taking possession, maintenance, remodeling and reletting and any indebtedness other than rent due hereunder from Tenant to Landlord; Second, to the payment of rent due and unpaid hereunder; Third, any residue shall be applied in such manner payment of future rent and to such parties costs of maintenance and reletting as Landlord shall determinethe same may be due and payable hereunder. Should such rentals and other amounts received from such reletting during any month be less than that agreed to be paid by Tenant's obligations hereunder, then Tenant shall immediately pay such deficiency to Landlord upon Landlord’s demand. Such deficiency shall be calculated and paid monthly. No Notwithstanding any provisions hereof to the contrary, no such reentry re-entry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, Lease unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed as an election by a court of competent jurisdiction. In the event Further, notwithstanding any such reletting without termination, Landlord terminates may at any time thereafter elect to terminate this Lease in accordance herewith, for any breach hereof by Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Leaseand, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effectaddition to any other remedy it may have, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as it may recover from Tenant all damages it may incur by reason of such expiration or terminationbreach, 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, including attorneys’ fees and the exercise or costs of re-entering the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this LeasePremises.

Appears in 1 contract

Samples: Lease Agreement (Sarcos Technology & Robotics Corp)

Landlord’s Remedies. Upon In the occurrence event of an Event any Material Breach of Defaultthis Lease by Tenant, then Landlord, in addition to other rights or remedies it may have, shall have the right to terminate this Lease, or without terminating this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, by force if necessary, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of DefaultTenant's default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, reasonable attorneys, ' fees, real estate commissions, and any other sum of money, late charges and damagesdamages caused by Tenant to Landlord. As used herein, "Material Breach" shall mean any breach by Tenant in any of the terms and conditions of this Lease which upon an Event of Default would have a material and adverse impact of any kind upon Landlord and/or the Demised Premises, as opposed to a technical breach by Tenant which is de minimis in nature. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and against the amounts due from Tenant hereunder after deducting any expenses incurred by Landlord with respect to such parties reletting as Landlord shall determineprovided above. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such any deficiency to Landlord. Such deficiency shall be calculated on a cumulative basis with all excess payments received by Landlord from such reletting to be applied against future amounts due from Tenant and any deficiencies to be paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant Tenant, in which event Tenant's obligations to Landlord shall forthwith cease, or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewithwith this Paragraph, then, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all reasonable amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, as damages, an amount equal to the present value discounted at the Federal Reserve discount rate 27 53 ten percent (10%) of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term expires on the Expiration Datedate set forth in Paragraph 2, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term extension term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damageshave the obligation to mitigate its damages to the extent required by state law. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' attorney's fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent with knowledge of the breach of any covenant hereof (other than breach of the obligation to pay the portion of such rent paid) shall not be deemed a waiver of such breach, and no waiver by Landlord of any provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.

Appears in 1 contract

Samples: Suit Lease Agreement (Software Net Corp)

Landlord’s Remedies. Upon On the occurrence of an Event of DefaultDefault which Tenant fails to cure after notice and expiration of the cure period, Landlordif any, in addition to other rights or remedies it may havespecified above, Landlord shall have the right right: (i) to terminate this LeaseLease and, or without terminating this Leaseat any time thereafter, terminate Tenant's right to recover possession of the Demised PremisesPremises and, by any lawful means, expel and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedingsPremises, without being liable for prosecution or prejudice to any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If remedies that Landlord may have under this Lease or at law or in equity; or (ii) to continue this Lease in effect for so long as Landlord does not terminate Tenant's right to possession of the Demised Premises is terminated without termination of the Leasepossession, Landlord shall be entitled to and enforce all of Landlord's rights and remedies under the this Lease, including the right to recover the rent Fixed Minimum Rent as it becomes due hereunder. Should Landlord elect to due, or relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord Landlord, in its sole discretion, may deem appropriateadvisable. Rental and other amounts received Acts of maintenance, preservation or efforts to lease the Premises, the appointment of a receiver upon application of Landlord to protect Landlord's interest under this Lease, or re-entry or taking of possession of the Premises by Landlord in connection with such reletting Landlord, shall be applied in such manner and not constitute an election to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than terminate Tenant's obligations hereunder, Tenant shall pay right to possession unless specific written notice of such deficiency termination is given to LandlordTenant. Such deficiency shall be calculated and paid monthly. No such reentry or Upon Landlord taking possession of the Demised Premises, Landlord may store any abandoned property of Tenant located in the Premises and not removed by Tenant within five (5) days of taking possession, in a public warehouse or elsewhere at Tenant's expense or otherwise dispose of such property in the manner provided by law. If Landlord does not terminate this Lease hereunder, then Tenant shall continue to pay currently all amounts payable by Tenant under this Lease, together with the cost of obtaining possession of and reletting the Premises, any repairs and alterations necessary to prepare the Premises for reletting, and brokerage commissions and reasonable attorneys' fees incurred in connection therewith, less the rents, if any, received from such reletting. Any and all monthly deficiencies so payable by Tenant shall be construed as an election paid on its part each due date for Fixed Minimum Rent. Notwithstanding any reletting without termination, Landlord may at any time thereafter elect to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.

Appears in 1 contract

Samples: Shopping Center Lease (North Valley Bancorp)

Landlord’s Remedies. For so long as any Event of Default continues, Landlord may at any time elect to: (a) terminate this Lease, (b) terminate Tenant's right of possession of the Premises (but Tenant shall remain liable as hereinafter provided), and/or (c) pursue any other remedies at law or in equity. Upon the occurrence termination of an Event this Lease, or termination of DefaultTenant's right of possession, LandlordLandlord may, in addition to other rights without formal demand or remedies it may havenotice except as required by Legal Requirements, re-enter the Premises by any action or proceeding authorized by law, and remove Tenant, and all persons and property therefrom. If Landlord re-enters the Premises, Landlord shall have the right to terminate this Leasekeep in place, or without terminating this Leaseremove and store, terminate all property at the Premises at Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all ’s reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdictionexpense. In the event Landlord terminates delivers three notices of an Event of Default under this Lease in accordance herewithany consecutive twelve-month period, Tenant any subsequent failure to comply with this Lease shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, deemed an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Immediate Event of Default. The parties hereby agree that a reasonable estimate term “Immediate Event of such Default” shall mean Tenant has no cure period, and Landlord may immediately pursue all of its remedies.  If Landlord terminates this Lease, Landlord may recover from Tenant the sum of: (a) all Monthly Base Rent, Operating Expenses, and all other amounts necessary payable by Tenant which have accrued as of the date of termination; (b) the unamortized value of the Monthly Base Rent for any periods of abated Monthly Base Rent (as amortized over the full term of this Lease); (c) the reasonable cost of reletting the Premises, including the unamortized brokerage fees and/or leasing commissions incurred by Landlord, costs of removing and storing property, repairing or altering the Premises to compensate the condition required by Tenant under this Lease; (d) all reasonable expenses incurred by Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid pursuing its remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs; and (e) the excess of the then present value of the Monthly Base Rent, incident Operating Expenses, and other amounts payable by Tenant under this Lease applicable to the enforcement period following the termination of this Lease through the Expiration Date, over the present value of any amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises during such period, taking into consideration the availability of acceptable tenants consistent with Landlord’s reasonable leasing criteria and other market conditions. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury bill rate at the date of the termination. If Landlord terminates Tenant's right of possession (but not this Lease), Landlord shall use commercially reasonable efforts to relet the Premises without releasing Tenant from any liability hereunder and without notice to Tenant; provided, however, (a) Landlord shall not be obligated to accept a Tenant-proposed tenant, and (b) Landlord shall have the right to lease any other space controlled by Landlord or Landlord’s affiliate first. Any reletting of the Premises shall be on terms and conditions acceptable to Landlord in its reasonable discretion. Provided that Landlord complies with the requirements of this paragraph, Landlord shall not be liable, nor shall Tenant's obligations hereunderbe reduced as a result of Landlord not reletting the Premises. A receipt Landlord shall have the right to make repairs, changes, alterations, or additions to the Premises as Landlord reasonably deems necessary in order to relet the Premises. If the Premises is not relet, then Tenant shall pay to Landlord, as damages, a sum equal to: (1) the Monthly Base Rent Operating Expenses payable by Tenant for such period that the Premises has not been relet, plus the cost of recovering possession of the Premises (including reasonable attorneys' fees and court costs); (2) any Monthly Base Rent, Operating Expenses, and other amounts accrued and unpaid at the time of repossession; and (3) the reasonable costs incurred by Xxxxxxxx’s efforts to relet the Premises. If the Premises is relet, and the total rent and expenses payable by such replacement tenant (after first deducting any unpaid amounts payable by Tenant which accrued under this Lease, the reasonable cost of recovering possession of the Premises, the reasonable costs of repairs and alterations to the Premises completed by Landlord on Tenant’s behalf, and leasing commissions) is not sufficient to satisfy the total rent and expenses payable by Tenant under this Lease, then Tenant shall immediately pay any such deficiency to Landlord upon written demand. Notwithstanding any reletting without termination, Landlord may elect to terminate this Lease for a previous Event of rent with knowledge of the breach Default at any time upon written notice. Xxxxxxxx’s exercise of any covenant hereof remedies shall not be deemed an acceptance of surrender of the Premises and/or a termination of this Lease. Landlord’s failure to enforce its rights under this Lease strictly in accordance the terms hereof shall not modify this Lease or create a custom contrary to the specific provisions of this Lease. Tenant and Landlord further agree that forbearance or waiver by Landlord to enforce its rights pursuant to this Lease, or at law or in equity, shall not waive its rights or remedies in connection with any subsequent Event of such breach, and no Default. No waiver by Landlord of any provisions of this Lease provision shall be deemed to have been made effective unless expressed in writing and signed by Landlord. Without limiting the generality , even if Landlord accepts Xxxxxx’s payments with knowledge of Tenant’s breach of the foregoing, no failure Lease. Tenant waives all right of redemption following termination of the Lease or Xxxxxx’s right of possession by Landlord to insist upon the performance a judgment or warrant of any of court. In the terms of this Lease event Landlord exercises self-help or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach lock-out, remedies, as provided by law, Tenant waives all claims against Landlord for business loss, business interruption, or any of the other damages resulting from Xxxxxxxx's self-help or lock-out. The terms of "enter," "re-enter," "entry" or "re-entry," as used in this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and are not restricted to the extent therein statedtheir technical legal meanings. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.

Appears in 1 contract

Samples: Lease (DallasNews Corp)

Landlord’s Remedies. Upon The Landlord shall have the occurrence following remedies if Tenant commits a default under this Lease. These remedies are not exclusive but are cumulative and in addition to any remedies now or hereafter allowed by law. Landlord can continue this Lease in full force and effect, and the Lease will continue in effect so long as Landlord does not terminate Tenant's right to possession, and the Landlord shall have the right to collect rent when due. During the period that Tenant is in default, Landlord can enter the Premises and re-let them, or any part of an Event them, to third parties for Tenant's account. Tenant shall be liable immediately to the Landlord for all costs the Landlord incurs in reletting the Premises, including, without limitation, broker's commissions, expenses of Defaultremodeling the Premises required by the reletting, and like costs. Reletting can be for a period shorter or longer than the remaining term of this Lease. 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. No act by Landlord allowed by this paragraph shall terminate this Lease unless Landlord notifies Tenant that Landlord elects to terminate the Lease. After Tenant's default and for so long as Landlord has not terminated Tenant's right to possession of the Premises, if Tenant obtains Landlord's consent, Tenant shall have the right to assume or sublet its interest in the Lease, but Tenant shall not be released from liability. If Landlord elects to re-let the Premises as provided in this paragraph, any rent that Landlord receives from such reletting shall apply first to the payment of any indebtedness from Tenant to Landlord other than the rent due from Tenant to Landlord; secondly, to all costs, including maintenance, incurred by Landlord in such reletting; and third, to any rent due and unpaid under this Lease. After deducting the payments referred to in this paragraph, any sum remaining from the rent Landlord receives from such reletting shall be held by Landlord and applied in payment of future rent as rent becomes due under this Lease. In no event shall tenant be entitled to any excess rent received by Landlord, in addition to other rights or remedies it may havethe remaining rent due, all costs, including maintenance, that Landlord shall have incurred in reletting that remain after applying the right to terminate rent received from the reletting as provided in this Leaseparagraph. Landlord can, or without terminating this Leaseat its option, terminate Tenant's right to possession of the Demised Premises at any time. No act by Landlord other than giving written notice to Tenant shall terminate this Lease. Acts of maintenance, efforts to re-let the Premises, and or the appointment of a receiver of Landlord's initiative to protect Landlord's interest in either event Tenant the Lease shall immediately surrender possession not constitute a termination of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession possession. In the event of the Demised Premises is terminated without termination of the Leasesuch termination, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including has the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.:

Appears in 1 contract

Samples: static1.squarespace.com

Landlord’s Remedies. For so long as any Event of Default continues, Landlord may at any time elect to: (a) terminate this Lease, (b) terminate Tenant's right of possession of the Premises (but Tenant shall remain liable as hereinafter provided), and/or (c) pursue any other remedies at law or in equity. Upon the occurrence termination of an Event this Lease, or termination of DefaultTenant's right of possession, LandlordLandlord may, in addition to other rights without formal demand or remedies it may havenotice except as required by Legal Requirements, re-enter the Premises by any action or proceeding authorized by law, and remove Tenant, and all persons and property therefrom. If Landlord re-enters the Premises, Landlord shall have the right to terminate this Leasekeep in place, or without terminating this Leaseremove and store, terminate all property at the Premises at Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction’s expense. In the event Landlord terminates delivers three notices of an Event of Default under this Lease in accordance herewithany twelve-month period, Tenant any subsequent failure to comply with this Lease shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, deemed an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Immediate Event of Default. The parties hereby agree that a reasonable estimate term “Immediate Event of such Default” shall mean Tenant has no cure period, and Landlord may immediately pursue all of its remedies. If Landlord terminates this Lease, Landlord may recover from Tenant the sum of: (a) all Monthly Base Rent, Monthly Taxes, Monthly FOE, and all other amounts necessary payable by Tenant which have accrued as of the date of termination; (b) the value of the Monthly Base Rent for any periods of abated Monthly Base Rent; (c) the cost of reletting the Premises, including the unamortized brokerage fees and/or leasing commissions incurred by Landlord, costs of removing and storing property, repairing or altering the Premises to compensate the condition required by Tenant under this Lease; (d) all reasonable expenses incurred by Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid pursuing its remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs; and (v) the excess of the then present value of the Monthly Base Rent, incident Monthly Taxes, Monthly FOE, and other amounts payable by Tenant under this Lease applicable to the enforcement period following the termination of this Lease through the Expiration Date, over the present value of any amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises during such period, taking into consideration the availability of acceptable tenants consistent with Landlord’s leasing criteria and other market conditions. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury xxxx rate at the date of the termination. If Landlord terminates Tenant's right of possession (but not this Lease), Landlord shall use commercially reasonable efforts to relet the Premises without releasing Tenant from any liability hereunder and without notice to Tenant; provided, however, (a) Landlord shall not be obligated to accept a Tenant-proposed tenant, and (b) Landlord shall have the right to lease any other space controlled by Landlord or Landlord’s affiliate first. Any reletting of the Premises shall be on terms and conditions acceptable to Landlord in its sole discretion. Landlord shall not be liable, nor shall Tenant's obligations hereunderbe reduced as a result of Landlord not reletting the Premises. A receipt Landlord shall have the right to make repairs, changes, alterations, or additions to the Premises as Landlord deems necessary in order to relet the Premises. If the Premises is not relet, then Tenant shall pay to Landlord, as damages, a sum equal to: (1) the Monthly Base Rent, Monthly FOE, and Monthly Taxes payable by Tenant for such period that the Premises has not been relet, plus the cost of recovering possession of the Premises (including reasonable attorneys' fees and court costs); (2) any Monthly Base Rent, Monthly Taxes, Monthly FOE, and other amounts accrued and unpaid at the time of repossession; and (3) the costs incurred by Landlord’s efforts to relet the Premises. If the Premises is relet, and the total rent and expenses payable by such replacement tenant (after first deducting any unpaid amounts payable by Tenant which accrued under this Lease, the cost of recovering possession of the Premises, the costs of repairs and alterations to the Premises completed by Landlord on Tenant’s behalf, and leasing commissions) is not sufficient to satisfy the total rent and expenses payable by Tenant under this Lease, then Tenant shall immediately pay any such deficiency to Landlord upon demand. Notwithstanding any reletting without termination, Landlord may elect to terminate this Lease for a previous Event of rent with knowledge of the breach Default at any time upon written notice. Landlord’s exercise of any covenant hereof remedies shall not be deemed an acceptance of surrender of the Premises and/or a termination of this Lease. Landlord’s failure to enforce its rights under this Lease strictly in accordance the terms hereof shall not modify this Lease or create a custom contrary to the specific provisions of this Lease. Tenant and Landlord further agree that forbearance or waiver by Landlord to enforce its rights pursuant to this Lease, or at law or in equity, shall not waive its rights or remedies in connection with any subsequent Event of such breach, and no Default. No waiver by Landlord of any provisions of this Lease provision shall be deemed to have been made effective unless expressed in writing and signed by Landlord. Without limiting the generality , even if Landlord accepts Tenant’s payments with knowledge of Tenant’s breach of the foregoing, no failure Lease. Tenant waives all right of redemption following termination of the Lease or Tenant’s right of possession by Landlord to insist upon the performance a judgment or warrant of any of court. In the terms of this Lease event Landlord exercises self-help, or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach lock-out, remedies as provided by law Tenant waives all claims against Landlord for business loss, business interruption, or any of the other damages resulting from Landlord's self-help or lock-out. The terms of "enter," "re-enter," "entry" or "re-entry," as used in this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and are not restricted to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Leasetheir technical legal meanings.

Appears in 1 contract

Samples: Lease (Chardan NexTech Acquisition 2 Corp.)

Landlord’s Remedies. Upon During the occurrence continuance of an Event of Default, Landlord, in addition to other rights or remedies it Landlord may have, shall have the right serve a notice upon Tenant electing to terminate this LeaseLease upon a specified date not less than seven (7) days after the date of serving such notice and this Lease shall then expire on the date so specified as if that date had been originally fixed as the expiration date of the Term herein granted; however, and Event of Default shall be deemed waived if such default is made good before the date specified for termination in the notice of termination served on Tenant. All Base Rent and Additional Rent payable by Tenant following Tenant's receipt of a notice of monetary default shall be made by way of certified or bank cashier's check. In case this Lease shall be legally terminated as hereinbefore provided, or without terminating this Leaseby summary proceedings or otherwise in accordance with Laws, terminate Tenant's right to the extend permitted by Laws, Landlord or its agents may, immediately or any time thereafter, re-enter and resume possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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 such part thereof, with and remove all persons and property therefrom, either by summary proceedings or without legal proceedingsby a suitable action or proceeding at law, without being liable for prosecution any damages therefor. No re-entry by Landlord shall be deemed an acceptance of a surrender of this Lease. In case this Lease shall be terminated as hereinabove provided, or by summary proceedings or otherwise, Landlord may, in its own name and in its own behalf, relet the whole or any claim portion of the Premises, for any period equal to or damage thereforgreater or less than the remainder of the then current Term, for any sum which it may deem reasonable, to any tenant which it may deem suitable and satisfactory, and for any use and purpose which it may deem appropriate, and in connection with any such lease Landlord may make such changes in the character of the improvements on the Premises as Landlord may determine to be appropriate or helpful in effecting such lease and may grant concessions or free rent. In such eventHowever, in no event shall Landlord be under any obligation to relet the Premises. Landlord shall not in any event be required to pay Tenant any surplus of any sums received by Landlord on a reletting of the Premises in excess of the rent reserved in this Lease. Landlord shall be entitled to recover from Tenant the sum equal to all expenses, including reasonable damages counsel fees, incurred by Landlord by reason of such Event of Default, including without limitation, the cost of in recovering possession of the Demised Premises, expenses the costs of reletting including reasonable renovation and alteration of the Demised Premises, attorneysand the costs and charges for the care of Premises while vacant, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord which damages shall be entitled to enforce all of Landlord's rights due and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received payable by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity such time or under the laws or judicial decisions of the state where the Demised Premises is located or times as such expenses shall have been incurred by statute or otherwiseLandlord. All rights and remedies of Landlord herein enumerated hereunder are qualified in that they shall all be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent exercised in accordance 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this LeaseLaws.

Appears in 1 contract

Samples: Eyetech Pharmaceuticals Inc

Landlord’s Remedies. Upon If Tenant fails to perform any affirmative duty or obligation of Tenant under this Lease, within thirty (30) days after receipt of written notice to Tenant (or in the occurrence case of an Event emergency, such lesser time that is prudent under the circumstances), 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 Defaultreasonable 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. If any check given to Landlord by Tenant shall not be honored by the bank upon which it is drawn, Landlord, at its option, may require all future payments to be made under this Lease by Tenant to be made only by cashier's check. In the event of a Default of this Lease by Tenant, as defined in paragraph 7.01, Landlord may, in addition to all other rights remedies given to Landlord by law or remedies it may havein equity, by written notice to Tenant, declare the present value of all installments of Base Rent for the remainder of the term of this Lease to be immediately due and payable (whereupon the same shall have the right to be immediately due and payable), and terminate this LeaseLease or, or without terminating this Lease, terminate Tenant's right reenter the Premises pursuant to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have proper legal proceedings (for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, which cost Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No reimbursed if such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdictionis granted). In the event of such re-entry Landlord terminates this Lease shall use its reasonable efforts to relet the Premises and in accordance herewith, Tenant the event of such reletting shall be liable and shall pay to Landlord, apply the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued therefrom first to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all payment of Landlord's costs, expenses (including reasonable attorneys' fees and court costs, incident to the enforcement fees) incurred by reason of Tenant's obligations Default and the expense of reletting, including but not limited to repairs, renovation or alteration of the Premises, and then to the payment of Rent and all other sums due from Tenant hereunder. A receipt by All remedies available to Landlord under this Lease, at law, or in equity, are cumulative and concurrent. No termination of rent with knowledge this Lease nor any taking or recovering of possession of the breach of any covenant hereof Premises shall not be deemed a waiver of such breach, and no waiver by deprive Landlord of any provisions of this Lease its remedies or actions against Tenant for past or future rent or other sums due hereunder, nor shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance bringing of any of the terms of this Lease action for rent or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not Default be construed as a waiver of a subsequent breach the right to obtain possession of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this LeasePremises.

Appears in 1 contract

Samples: Lease Agreement (Sypris Solutions Inc)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault 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 haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease, or without terminating this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant the sum of: all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation Base Rent and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) accrued hereunder accrued to the date of such termination; the cost of reletting the whole or any part of the Premises, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination including without limitation brokerage fees and/or leasing commissions incurred by Landlord, plusand costs of removing and storing Tenant's or any other occupant's property, an amount equal repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit a new tenant or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time whentenants, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a all reasonable estimate of such other amounts necessary to compensate expenses incurred by Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid pursuing its remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident ; and the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the enforcement expiration date stated in this Lease, over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury bxxx rate at the date of such termination. If Landlord terminates Tenant's obligations hereunderright of possession (but not this Lease), Landlord may, but shall be under no obligation to, relet the Premises for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant. For the purpose of such reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of the rental reserved in this Lease for such period or periods, plus the cost of recovering possession of the Premises (including attorneys' fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord to relet the Premises. If the Premises are relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting, the cost of recovering possession (including attorneys' fees and costs of suit), all of the costs and expense of repairs, changes, alterations, and additions, the expense of such reletting (including without limitation brokerage fees and leasing commissions) and the cost of collection of the rent accruing therefrom] to satisfy the rent provided for in this Lease to be paid, then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be made upon demand therefor from time to time and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance of surrender of the Premises and/or a termination of this Lease by Landlord, whether by agreement or by operation of law, it being understood that such surrender and/or termination can be effected only by the written agreement of Landlord and Tenant. Any law, usage, or custom to the contrary notwithstanding, Landlord shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Landlord at any time to enforce its rights under this Lease strictly in accordance with same shall not be construed as having created a custom in any way or manner contrary to the specific terms, provisions, and covenants of this Lease or as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord to enforce its rights pursuant to this Lease or at law or in equity, shall not be a waiver of Landlord's right to enforce one or more of its rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provisions provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting To the generality greatest extent permitted by law, Tenant waives the service of the foregoingnotice of Landlord's intention to re-enter as provided for in any statute, no failure or to institute legal proceedings to that end, and also waives all right of redemption in case Tenant shall be dispossessed by Landlord to insist upon the performance a judgment or by warrant of any of the court or judge. The terms of this Lease "enter," "re-enter," "entry" or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of "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 no express waiver shall affect any default other conditions as Landlord in its sole discretion may determine (including without limitation a term different than the default specified in remaining Lease Term, rental concessions, alterations and repair of the express waiver Premises, lease of less than the entire Premises to any tenant and that only for leasing any or all other portions of the time and to Project before reletting the extent therein statedPremises). One or more waivers by Landlord shall not be construed as a waiver 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 a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Leasesuch reletting.

Appears in 1 contract

Samples: Lease Agreement (Adams Golf Inc)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault 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 haveproceeding 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 terminate keep in place and use, or sell all of Tenant’s furniture, fixtures and equipment at the Premises, subject to any existing superior or properly filed UCC statement lien. If Landlord terminates this Lease, Landlord may recover from Tenant the sum of: all Base Rent and all other amounts accrued hereunder to the date of such termination; the cost of reletting the whole or any part of the Premises, including without terminating limitation brokerage fees and/or leasing commissions incurred by Landlord, and costs of removing and storing Tenant’s or any other occupant’s property, repairing, , or otherwise putting the Premises into the same condition as originally received following completion of the tenant improvements , and all reasonable expenses incurred by Landlord in pursuing its remedies, including reasonable attorneys’ fees and court costs; and the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the expiration date stated in this Lease, terminate over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury xxxx rate at the date of such termination. If Landlord terminates Tenant's ’s right to of possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so(but not this Lease), Landlord may, but shall be under no obligation to, relet the Premises for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without prejudice thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant. For the purpose of such reletting Landlord is authorized to make any other remedy it may have for possession repairs, in or arrearage of rentalsto the Premises as Landlord deems reasonably necessary If the Premises are not relet, enter upon and take possession then Tenant shall pay to Landlord as damages a sum equal to the amount of the Demised Premises and expel rental reserved in this Lease for such period or remove Tenant and any other person who may be occupying the Demised Premises or any part thereofperiods, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, plus the cost of recovering possession of the Demised Premises (including attorneys’ fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord to relet the Premises. If the Premises are relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, expenses for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting reletting, the cost of recovering possession (including reasonable renovation attorneys’ fees and alteration costs of suit), all of the Demised Premisescosts and expense of repairs, attorneys, fees, real estate the expense of such reletting (including without limitation brokerage fees and leasing commissions, ) and any other sum the cost of money, late charges and damages. If Tenant's right to possession collection of the Demised Premises is terminated without termination of rent accruing therefrom] to satisfy the Leaserent provided for in this Lease to be paid, then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be entitled made upon demand therefor from time to enforce all of Landlord's rights time and remedies under the Lease, including the right Tenant agrees that Landlord may file suit to recover the rent as it becomes any sums falling due hereunderfrom time to time. Should Landlord elect to relet the Demised Premises or Notwithstanding any part thereofsuch reletting without termination, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord any time thereafter elect in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part writing to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining periodprevious breach. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise 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 remedies should not preclude manner contrary to the simultaneous specific terms, provisions, and covenants of this Lease or later exercise as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord of any to enforce its rights pursuant to this Lease or all other rights at law or remedies. Tenant in equity, shall pay, upon demand, all not be a waiver of Landlord's costs, including reasonable attorneys' fees and court costs, incident ’s right to the enforcement enforce one or more of Tenant's obligations hereunderits rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provisions provision of this Lease lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting To the generality greatest extent permitted by law, Tenant requires the service of the foregoingnotice of Landlord’s intention to re-enter as provided for in any statute, no failure or to institute legal proceedings to that end, and also waives all right of redemption in case Tenant shall be dispossessed by Landlord to insist upon the performance a judgment or by warrant of any of the court or judge. The terms of this Lease “enter,” “re-enter,” “entry” or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of “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 no express waiver shall affect any default other conditions as Landlord in its sole discretion may determine including without limitation a term different than the default specified in remaining Lease Term, rental concessions, repair of the express waiver Premises, lease of less than the entire Premises to any tenant and that only for leasing any or all other portions of the time and to Project before reletting the extent therein statedPremises). One or more waivers by Landlord shall not be construed as a waiver liable, nor shall Tenant’s obligations hereunder be diminished because of a subsequent breach Landlord’s failure to relet the Premises or collect rent due in respect of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Leasesuch reletting.

Appears in 1 contract

Samples: Lease Agreement (Oxford Ventures Inc)

Landlord’s Remedies. Upon In the occurrence event of an Event of Defaultany default by Tenant under this Lease, Landlord, at its option, may serve Tenant with a notice of default advising Tenant that unless Tenant cures the default within ten (10) days of receipt of the notice, Landlord may, in addition to all other rights or and remedies it may have, shall have the right to terminate provided in this Lease, or otherwise at law or in equity, commence a proceeding to recover Base Rent and Additional Rent due from Tenant to the date of the proceeding, subject to Landlord’s obligation to mitigate damages. In the event that Landlord wishes to terminate the Lease by reason of such default, Landlord shall deliver to Tenant a second notice stating in bold letters that unless Tenant shall cure the default, Landlord may, within five business days thereafter, (a) seek to terminate the Lease and recover from Tenant the moneys due to the date of the notice and thereafter under the terms of the Lease, subject to mitigation, including the recovery of all Landlord’s reasonable expenses of reletting the Premises (including repairs, alterations, improvements, additions, decorations, legal fees and brokerage commissions), or (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 reasonably acceptable to 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). For purposes of any reletting, Landlord is authorized to decorate, repair, alter and improve the Premises to the extent reasonably deemed necessary by Landlord, in its sole, but reasonable, discretion. If the Premises are relet and a sufficient sum is not realized there from, to satisfy the payment, when due, of Base Rent and Additional Rent reserved under the Lease for any monthly period (after payment of all Landlord’s reasonable expenses of reletting) , then Tenant shall 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 favor of Landlord. In the event Landlord elects, pursuant to Subsection (b) of this Section 22.2, to terminate Tenant’s right of possession only, without terminating this Lease, Landlord may, pursuant to Court order, at Landlord’s option, enter into the Premises, remove Tenant’s Property, Tenant’s signs and other evidences of tenancy, and take and hold possession thereof, as provided in Section 20 hereof; provided, however, that such entry and possession shall not terminate this Lease or release Tenant's right , in whole or in part, from Tenant’s obligation to possession 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 Demised PremisesLease 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 either no event or circumstance, other than Landlord’s negligence, shall Landlord be responsible for the value, preservation or safekeeping thereof. Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and 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 sum same shall be in Landlord’s possession or under Landlord’s control. Any such property of all rent and other payments owed Tenant not retaken from storage by Tenant within thirty (30) days after the end of the Term, however terminated, shall be conclusively presumed to date have been conveyed by Tenant to LandlordLandlord under this Lease as in a xxxx of sale, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent further payment or credit by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.

Appears in 1 contract

Samples: Acceptance Agreement (Qumu Corp)

Landlord’s Remedies. Upon In the occurrence event of an Event of Defaultany Default by Tenant under this Lease that remains uncured within the specified timeframes, Landlord, at its option, may, in addition to any and all other rights and remedies provided in this Lease or remedies it may have, shall have otherwise at law or in equity do or perform any or all of the right to terminate this Lease, or without terminating this Lease, terminate following: 22.2.1. Terminate Tenant's ’s right to possession of the Demised PremisesPremises by any lawful means, in which case this Lease shall terminate and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage thereforLandlord. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred of: (i) the unpaid Rent that is accrued and unpaid as of the date on which this Lease is terminated; (ii) the worth, at the time of award, of the amount by Landlord by reason which (x) the unpaid Rent that would otherwise be due and payable under this Lease (had this Lease not been terminated) for the period of time from the date on which this Lease is terminated through the Expiration Date exceeds (y) the amount of such Event rental loss that the Tenant proves could have been reasonably avoided; and (iii) any other amount necessary to compensate Landlord for all the detriment proximately caused by the Tenant’s failure to perform its obligations under this Lease or which, in the ordinary course of Defaultevents, would be likely to result therefrom, including without limitationbut not limited to, the cost of recovering possession of the Demised Premises, expenses of reletting reletting, including reasonable renovation and alteration of the Demised Premises, reasonable attorneys, fees, real estate commissions, and that portion of any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received leasing commission paid by Landlord in connection with such reletting this Lease applicable to the unexpired Term (as of the date on which this Lease is terminated). The worth, at the time of award, of the amount referred to in provision (ii) of the immediately preceding sentence shall be applied in computed by discounting such manner and to such parties amount at the current yield, as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election date on its part which this Lease is terminated under this Section 22.2.1, on United States Treasury Bills having a maturity date closest to terminate the stated Expiration Date of this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdictionplus [*] per annum. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued Notwithstanding anything to the date of such terminationcontrary herein contained, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation there shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon occur an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event Default and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition seek to the aforesaid exercise its remedies, Landlord shall be entitled use commercially reasonable efforts to pursue mitigate any other remedy now or hereafter available damages caused by such Event of Default, such efforts to Landlord at equity or under include using commercially reasonable efforts to re-let the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwisePremises. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure Efforts by Landlord to insist upon the performance of any of the terms of mitigate damages caused by Tenant’s Default shall not waive Landlord’s right to recover damages under this Section 22.2. If this Lease or to exercise is terminated through any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, unlawful entry and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provideddetainer action, Landlord shall be entitled have the right to seek recover in such proceeding any unpaid Rent and damages as are recoverable in such action, or Landlord may reserve the right to recover all or any part of such Rent and damages in a restraint by injunction separate suit; or 22.2.2. Continue the Lease and either (a) continue Tenant’s right to possession or (b) terminate Tenant’s right to possession and in the case of either (a) or (b), recover the violation or attempted or threatened violation Rent as it becomes due. Acts of the covenants, conditions and provisions of this Lease.maintenance,

Appears in 1 contract

Samples: Disturbance Agreement (Seagen Inc.)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault 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 haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease, or without terminating this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant the sum of: all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation Base Rent and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) accrued hereunder accrued to the date of such termination; the cost of reletting the whole or any part of the Premises, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination including without limitation brokerage fees and/or leasing commissions incurred by Landlord, plusand costs of removing and storing Tenant's or any other occupant's property, an amount equal repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit a new tenant or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time whentenants, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a all reasonable estimate of such other amounts necessary to compensate expenses incurred by Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid pursuing its remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident ; and the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the enforcement expiration date stated in this Lease, over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury xxxx rate at the date of such termination. If Landlord terminates Tenant's obligations hereunderright of possession (but not this Lease), Landlord may, but shall be under no obligation to, relet the Premises for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant. For the purpose of such reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of the rental reserved in this Lease for such period or periods, plus the cost of recovering possession of the Premises (including attorneys' fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord to relet the Premises. If the Premises are relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting, the cost of recovering possession (including attorneys' fees and costs of suit), all of the costs and expense of repairs, changes, alterations, and additions, the expense of such reletting (including without limitation brokerage fees and leasing commissions) and the cost of collection of the rent accruing therefrom] to satisfy the rent provided for in this Lease to be paid, then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be made upon demand therefor from time to time and Tenant agrees that Landlord may file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance of surrender of the Premises and/or a termination of this Lease by Landlord, whether by agreement or by operation of law, it being understood that such surrender and/or termination can be effected only by the written agreement of Landlord and Tenant. Any law, usage, or custom to the contrary notwithstanding, Landlord shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Landlord at any time to enforce its rights under this Lease strictly in accordance with same shall not be construed as having created a custom in any way or manner contrary to the specific terms, provisions, and covenants of this Lease or as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord to enforce its rights pursuant to this Lease or at law or in equity, shall not be a waiver of Landlord's right to enforce one or more of its rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provisions provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting To the generality greatest extent permitted by law, Tenant waives the service of the foregoingnotice of Landlord's intention to re-enter as provided for in any statute, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Leaseinstitute legal proceedings to that end, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.also waives all

Appears in 1 contract

Samples: Lease Agreement (Techdyne Inc)

Landlord’s Remedies. Upon After the occurrence of an Event of Default, Landlord, in addition to other rights or remedies it may have, shall have the right to terminate this Lease, or without terminating this Lease, terminate a Default by Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice at its option, immediately declare Tenant's rights under this Lease terminated, and, subject to the requirements of applicable laws, reenter the Premises using such force as may be necessary, and repossess itself thereof, as of its former estate, and remove all persons and property from the Premises. Notwithstanding any other remedy it may have such reentry, the liability of Tenant for possession or arrearage the full Rent provided for herein shall not be extinguished for the balance of rentalsthis Lease, enter upon and take possession Tenant shall make good to Landlord any deficiency arising from a reletting of the Demised Premises at a lesser Rent, plus the costs and expel expenses of renovating, altering and reletting the Premises, including attorneys' fees or remove brokers' fees incident to Landlord's reentry or reletting. Tenant shall pay any such deficiency each month as the amount thereof is ascertained by Landlord or, at Landlord's option, Landlord may recover in addition to all Rent and any other person who may sums unpaid at the time of judgment, the present value of the amount at the time of judgment by which the unpaid Rent for the balance of the Lease Term after judgment exceeds the amount of Rent loss which Tenant proves could be occupying reasonably avoided, discounted at the Demised Premises or any part thereof, with or without legal proceedings, without being liable for prosecution or any claim or damage thereforrate of five percent (5%). In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, reletting the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms grant commercially reasonable rent concessions and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received the amount due from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall not be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining periodreduced thereby. Nothing herein contained shall limit or prejudice be deemed to affect the right of Landlord to prove recover for and obtainindemnification under any provision herein, as damages by reason of such expiration or termination, an amount equal for matters which occurred prior 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms termination of this Lease, or for any other remedy at law or in equity. Tenant acknowledges that if Tenant is in Default under this Lease and no express waiver shall affect at that time any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers property owned by Landlord is available for lease, Landlord has the right to lease such other premises, and this shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in reduce Tenant's obligations under this Lease provided, Landlord shall be entitled to seek a restraint by injunction of through the violation or attempted or threatened violation of the covenants, conditions and provisions of this Leaseremaining Lease Term.

Appears in 1 contract

Samples: Work Letter Agreement (Emulex Corp /De/)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault 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 haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease, Landlord may recover from Tenant the sum of: all Base Rent and all other amounts accrued hereunder to the date of such termination; the value of the Base Rent for any periods of abated Monthly Base Rent based on the Monthly Base Rent amount that immediately follows such period of abatement; the cost of reletting the whole or any part of the Premises, including without terminating limitation brokerage fees and/or leasing commissions incurred by Landlord, and costs of removing and storing Tenant’s or any other occupant’s property, repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to a new tenant or tenants, and all reasonable expenses incurred by Landlord in pursuing its remedies, including reasonable attorneys’ fees and court costs; and the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the expiration date stated in this Lease, terminate over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury bxxx rate at the date of such termination. If Landlord terminates Tenant's ’s right to of possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so(but not this Lease), Landlord may, but shall be under no obligation to, relet the Premises for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without prejudice thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant. For the purpose of such reletting Landlord is authorized to make any other remedy it may have for possession repairs, changes, alterations, or arrearage of rentalsadditions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, enter upon and take possession then Tenant shall pay to Landlord as damages a sum equal to the amount of the Demised Premises and expel rental reserved in this Lease for such period or remove Tenant and any other person who may be occupying the Demised Premises or any part thereofperiods, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, plus the cost of recovering possession of the Demised Premises (including attorneys’ fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord to relet the Premises. If the Premises are relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, expenses for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting reletting, the cost of recovering possession (including reasonable renovation attorneys’ fees and alteration costs of suit), all of the Demised Premisescosts and expense of repairs, attorneyschanges, fees, real estate commissionsalterations, and any other sum additions, the expense of money, late charges such reletting (including without limitation brokerage fees and damages. If Tenant's right to possession leasing commissions) and the cost of collection of the Demised Premises is terminated without termination of rent accruing therefrom] to satisfy the Leaserent provided for in this Lease to be paid, then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be entitled made upon demand therefor from time to enforce all of Landlord's rights time and remedies under the Lease, including the right Tenant agrees that Landlord may file suit to recover the rent as it becomes any sums falling due hereunderfrom time to time. Should Landlord elect to relet the Demised Premises or Notwithstanding any part thereofsuch reletting without termination, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord any time thereafter elect in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part writing to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining periodprevious breach. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise 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 remedies should not preclude manner contrary to the simultaneous specific terms, provisions, and covenants of this Lease or later exercise as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord of any to enforce its rights pursuant to this Lease or all other rights at law or remedies. Tenant in equity, shall pay, upon demand, all not be a waiver of Landlord's costs, including reasonable attorneys' fees and court costs, incident ’s right to the enforcement enforce one or more of Tenant's obligations hereunderits rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provisions provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting To the generality greatest extent permitted by law, Tenant waives the service of the foregoingnotice of Landlord’s intention to re-enter as provided for in any statute, no failure or to institute legal proceedings to that end, and also waives all right of redemption in case Tenant shall be dispossessed by Landlord to insist upon the performance a judgment or by warrant of any of the court or judge. The terms of this Lease “enter,” “re-enter,” “entry” or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of “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 no express waiver shall affect any default other conditions as Landlord in its sole discretion may determine (including without limitation a term different than the default specified in remaining Lease Term, rental concessions, alterations and repair of the express waiver Premises, lease of less than the entire Premises to any tenant and that only for leasing any or all other portions of the time and to Project before reletting the extent therein statedPremises). One or more waivers by Landlord shall not be construed as a waiver liable for, and Tenant’s obligations hereunder shall not be diminished because of, Landlord’s failure to relet the Premises or collect rent due in respect of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Leasesuch reletting.

Appears in 1 contract

Samples: The Lease Agreement (Inogen Inc)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault 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 haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease, or without terminating this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant the sum of: all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation Base Rent and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) accrued hereunder accrued to the date of such termination; the cost of reletting the whole or any part of the Premises, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination including without limitation brokerage fees and/or leasing commissions incurred by Landlord, plusand costs of removing and storing Tenant's or any other occupant's property, an amount equal repairing, altering, remodeling, or otherwise putting the Premises into condition acceptable to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit a new tenant or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time whentenants, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a all reasonable estimate of such other amounts necessary to compensate expenses incurred by Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid pursuing its remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident ; and the excess of the then present value of the Base Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be paid by Tenant to Landlord during the period following the termination of this Lease measured from the date of such termination to the enforcement expiration date stated in this Lease, over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90day U.S. Treasury bill xxxe at the date of such termination. If Landlord terminates Tenant's obligations hereunderright of possession (but not this Lease), Landlord may, but shall be under no obligation to, relet the Premises for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant. For the purpose of such reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of the rental reserved in this Lease for such period or periods, plus the cost of recovering possession of the Premises (including attorneys' fees and costs of suit), the unpaid Base Rent and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord to relet the Premises. If the Premises are relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, for retention by Landlord, the unpaid Base Rent and other amounts accrued hereunder at the time of reletting, the cost of recovering possession (including attorneys' fees and costs of suit), all of the costs and expense of repairs, changes, alterations, and additions, the expense of such reletting (including without limitation brokerage fees and leasing commissions) and the cost of collection of the rent accruing therefrom] to satisfy the rent provided for in this Lease to be paid, then Tenant shall immediately satisfy and pay any such deficiency. 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 failing due from time to time. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance of surrender of the Premises and/or a termination of this Lease by Landlord, whether by agreement or by operation of law, it being understood that such surrender and/or termination can be effected only by the written agreement of Landlord and Tenant. Any law, usage, or custom to the contrary notwithstanding, Landlord shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Landlord at any time to enforce its rights under this Lease strictly in accordance with same shall not be construed as having created a custom in any way or manner contrary to the specific terms, provisions, and covenants of this Lease or as having modified the same. Tenant and Landlord further agree that forbearance or waiver by Landlord to enforce its rights pursuant to this Lease or at law or in equity, shall not be a waiver of Landlord's right to enforce one or more of its rights in connection with any subsequent default. A receipt by Landlord of rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of any provisions provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.To the

Appears in 1 contract

Samples: Lease Agreement (Brightpoint Inc)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault 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 reenter the Premises by summary dispossession proceedings or any other rights action or remedies it may haveproceeding 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 terminate keep in place and use, or remove and store, all of the furniture, fixtures and equipment at the Premises. If Landlord terminates this Lease, or without terminating this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant the sum of: (i) all reasonable damages incurred by Landlord by reason of such Event of DefaultBase Rent, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation Additional Rent and alteration of the Demised Premises, attorneys, fees, real estate commissions, and any other sum of money, late charges and damages. If Tenant's right to possession of the Demised Premises is terminated without termination of the Lease, Landlord shall be entitled to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) accrued hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less ; (ii) the fair market rental value cost of reletting the whole or any part of the Demised Premises, including without limitation, brokerage fees and/or leasing commissions incurred by Landlord, costs of removing and storing Tenant's or any other occupant's property, costs of repairing, altering, remodeling, or otherwise putting the Premises for such remaining period. Nothing herein contained shall limit into condition acceptable to a new tenant or prejudice the right of Landlord to prove for and obtain, as damages tenants; (iii) all reasonable expenses incurred by reason of such expiration or 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid pursuing its remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to ; and (iv) the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent with knowledge then present value of the breach of any covenant hereof shall not Base Rent Additional Rent and other amounts payable by Tenant under this Lease as would otherwise have been required to be deemed a waiver of such breach, and no waiver paid by Tenant to Landlord of any provisions during the period following the termination of this Lease measured from the date of such termination to the expiration date stated in this Lease. Such present value shall be deemed calculated at a discount rate equal to have been made unless expressed the 90-day U. S. Treasury xxxx rate at the date of such termination. If Landlord terminates Tenant's right of possession (but not this Lease), Landlord may, but shall be under no obligation to, relet the Premises for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant. For the purpose of such reletting Landlord is authorized to make any repairs, changes, alterations, or additions in writing and signed by Landlordor to the Premises as Landlord deems reasonably necessary or desirable without notice to Tenant. Without limiting If the generality Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies Rent reserved in this Lease providedfor such period or periods, plus the cost of recovering possession of the Premises (including attorneys' fees and costs of suit), the unpaid Base Rent, Additional Rent and other amounts accrued hereunder at the time from time to time. Notwithstanding any such reletting without termination, Landlord shall be entitled may at any time thereafter elect in writing to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of terminate this LeaseLease for such previous breach.

Appears in 1 contract

Samples: Lease (Blue Rhino Corp)

Landlord’s Remedies. Upon the occurrence of an Event event of Defaultdefault under this Lease by Tenant, Landlord, then Landlord in addition to other rights or remedies it may have, shall have the right to terminate this LeaseLease upon fifteen (15) days written notice to Tenant, and also the right, with or without terminating termination of this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, enter reentry upon and take taking possession of the Demised Premises and expel or Landlord may remove Tenant all persons and any other person who may be occupying the Demised Premises or any part thereof, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover property from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation ; such property may be removed and alteration of the Demised Premises, attorneys, fees, real estate commissions, and stored in any other sum place in the Building or in any other reasonably secure place for the account of money, late charges and damagesat the expense and risk of Tenant. If Tenant's right to Tenant hereby waives all claims for damages which may be caused by the reentry of Landlord and taking possession of the Demised Premises is terminated without termination of or removing or storing the Leasefurniture and property as herein provided and shall save Landlord harmless from any costs or damages occasioned Landlord thereby, Landlord and no such reentry shall be entitled considered or be construed to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunderbe a forcible entry. Should Landlord elect to reenter, as herein provided, or should it take possession pursuant to legal proceedings or pursuant to any notice provided for by law, Landlord may either terminate this Lease or, Landlord may from time to time, without terminating this Lease, relet the Demised Premises or any part thereof, Landlord may do so thereof for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriatebe reasonable, with the right to make minor alterations and repairs to the Demised Premises. Rental and other amounts received by Landlord in connection with from such reletting shall be applied first, to the payment of any costs of such reletting including reasonable brokerage and attorney's fee; and the residue, if any, shall be held by Landlord and applied in such manner payment of future rent as the same may become due and to such parties as Landlord shall determinepayable hereunder. Should such rentals and other amounts received from such reletting in any during any month be less than Tenant's obligations one-twelfth (1/12) of the annual rent reserve hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant Tenant, in which event Tenant's obligations to Landlord shall forthwith cease, or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.

Appears in 1 contract

Samples: Lease (Document Sciences Corp)

Landlord’s Remedies. Upon the each occurrence of an Event of DefaultDefault and so long as such Event of Default shall be continuing, Landlord may at any time elect to: (a) terminate this Lease or Tenant’s right of possession, (but Tenant shall remain liable as hereinafter provided), and/or (b) 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 haveproceeding 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 terminate keep in place and use, or remove and store, all property at the Premises. If Landlord terminates this Lease, Landlord may recover from Tenant the sum of: all Base Rent, Monthly Fixed Operating Expenses, Taxes, and all other amounts accrued hereunder to the date of such termination; the value of the Base Rent for any periods of abated Monthly Base Rent based on the Monthly Base Rent amount that immediately follows such period of abatement; the cost of reletting the whole or any part of the Premises, including without terminating limitation brokerage fees and/or leasing commissions incurred by Landlord, and costs of removing and storing property, repairing or altering the Premises for a new tenant(s), and all reasonable expenses incurred by Landlord in pursuing its remedies, including reasonable attorneys’ fees and court costs; and the excess of the then present value of the Base Rent, Monthly Fixed Operating Expenses, Taxes, and other amounts payable by Tenant under this Lease applicable during the period following the termination of this Lease to the Expiration Date stated in this Lease, terminate over the present value of any net amounts which Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a discount rate equal to the 90-day U.S. Treasury xxxx rate at the date of such termination. If Landlord terminates Tenant's ’s right to possession of (but not this Lease) without terminating the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, 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, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover from Tenant all reasonable damages incurred by Landlord by reason of such Lease after an Event of Default, Landlord shall use commercially reasonable efforts to relet the Premises without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant; 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 of Landlord’s leasing criteria. Any reletting of the Premises shall be on such terms and conditions as Landlord in its sole discretion may determine (including without limitationlimitation a term different than the remaining Lease 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. For the purpose of such reletting Landlord is authorized to make any repairs, changes, alterations, or additions in or to the Premises as Landlord deems reasonably necessary or desirable. If the Premises are not relet, then Tenant shall pay to Landlord as damages a sum equal to the amount of the rental reserved in this Lease for such period or periods, plus the cost of recovering possession of the Demised Premises (including attorneys’ fees and costs of suit), the unpaid Base Rent, Monthly Fixed Operating Expenses, Taxes, and other amounts accrued hereunder at the time of repossession, and the costs incurred in any attempt by Landlord to relet the Premises. If the Premises are relet and a sufficient sum shall not be realized from such reletting after first deducting therefrom, expenses for retention by Landlord, the unpaid Base Rent, Monthly Fixed Operating Expenses, Taxes, and other amounts accrued hereunder at the time of reletting reletting, the cost of recovering possession (including reasonable renovation attorneys’ fees and alteration costs of suit), all of the Demised Premisescosts and expense of repairs, attorneyschanges, fees, real estate commissionsalterations, and any other sum additions, the expense of money, late charges such reletting (including without limitation brokerage fees and damages. If Tenant's right to possession leasing commissions) and the cost of collection of the Demised Premises is terminated rent accruing therefrom to satisfy the rent provided for in this Lease to be paid, then Tenant shall immediately satisfy and pay any such deficiency. Any such payments due Landlord shall be made upon demand and Tenant agrees that Landlord may file suit to recover any sums as they become due. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect in writing to terminate this Lease for such previous breach. Except for Landlord’s termination of this Lease, Landlord’s exercise of any remedies shall not be deemed to be an acceptance of surrender of the LeasePremises and/or a termination of this Lease by Landlord except by written agreement of Landlord and Tenant. Any law, usage, or custom to the contrary notwithstanding, Landlord shall be entitled have the right at all times to enforce all the provisions of this Lease in strict accordance with the terms hereof; and the failure of Landlord at any time to enforce its rights under this Lease strictly in accordance the terms hereof shall not be construed as having created a custom 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 rights and remedies under the Lease, including the ’s right to recover the rent as it becomes due hereunder. Should Landlord elect to relet the Demised Premises enforce one or any part thereof, Landlord may do so for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriate. Rental and other amounts received by Landlord more of its rights in connection with such reletting shall be applied in such manner and to such parties as Landlord shall determine. Should such rentals and other amounts received from such reletting during any month be less than Tenant's obligations hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an subsequent Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt 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 provisions provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting To the generality greatest extent permitted by law, Tenant waives all right of the foregoing, no failure redemption in case Tenant shall be dispossessed by Landlord to insist upon the performance a judgment or by warrant of any of the court or judge. The terms of this Lease “enter,” “re-enter,” “entry” or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of “re-entry,” as used in this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and are not restricted to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Leasetheir technical legal meanings.

Appears in 1 contract

Samples: Lease Agreement (TheRealReal, Inc.)

Landlord’s Remedies. Upon the occurrence of an Event event of Defaultdefault under this Lease by Tenant, Landlord, then Landlord in addition to other rights or remedies it may have, shall have the right to terminate this LeaseLease upon fifteen (15) days written notice to Tenant, and also the right, with or without terminating termination of this Lease, terminate Tenant's right to possession of the Demised Premises, and in either event Tenant shall immediately surrender possession of the Demised Premises to Landlord and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearage of rentals, enter reentry upon and take taking possession of the Demised Premises and expel or Landlord may remove Tenant all persons and any other person who may be occupying the Demised Premises or any part thereof, with or without legal proceedings, without being liable for prosecution or any claim or damage therefor. In such event, Landlord shall be entitled to recover property from Tenant all reasonable damages incurred by Landlord by reason of such Event of Default, including without limitation, the cost of recovering possession of the Demised Premises, expenses of reletting including reasonable renovation ; such property may be removed and alteration of the Demised Premises, attorneys, fees, real estate commissions, and stored in any other sum place in the Building or in any other reasonably secure place for the account of money, late charges and damagesat the expense and risk of Tenant. If Tenant's right to Tenant hereby waives all claims for damages which may be caused by the reentry of Landlord and taking possession of the Demised Premises is terminated without termination of or removing or storing the Leasefurniture and property as herein provided and shall save Landlord harmless from any costs or damages occasioned Landlord thereby, Landlord and no such reentry shall be entitled considered or be construed to enforce all of Landlord's rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunderbe a forcible entry. Should Landlord elect to reenter, as herein provided, or should it take possession pursuant to legal proceedings or pursuant to any notice provided for by law, Landlord may either terminate this Lease or, Landlord may from time to time, without terminating this Lease, relet the Demised Premises or any part thereof, Landlord may do so thereof for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem appropriatebe reasonable, with the right to make minor alterations and repairs to the Demised Premises. Rental and other amounts received by Landlord in connection with from such reletting shall be applied first, to the payment of any costs of such relettinq including reasonable brokerage and attorney's fee; and the residue, if any, shall be-held by Landlord and applied in such manner payment of future rent as the same may become due and to such parties as Landlord shall determinepayable hereunder. Should such rentals and other amounts received from such reletting relenting during any month be less than Tenant's obligations one-twelfth (1/12) of the annual rent reserved hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease, unless a written notice of such intention be given to Tenant Tenant, in which event Tenant's obligations to Landlord shall forthwith cease, or unless the termination thereof be decreed by a court of competent jurisdiction. In the event Landlord terminates this Lease in accordance herewith, Tenant shall be liable and shall pay to Landlord, the sum of all rent and other payments owed to date to Landlord, all sums owed to date to third parties (including without limitation, all Impositions) hereunder accrued to the date of such termination, all amounts required to be spent by Landlord to fulfill any of Tenant's obligations which Tenant did not fulfill prior to termination by Landlord, plus, an amount equal to the present value discounted at the Federal Reserve discount rate of (i) the total rental payments hereunder for the remaining portion of the term of the Lease, calculated as if such term the Expiration Date, unless Tenant has extended this Lease, in which case such calculation shall be as if the term expires on the final day of the Extension Term then in effect, less (ii) the fair market rental value of the Demised Premises for such remaining period. Nothing herein contained shall limit or prejudice the right of Landlord to prove for and obtain, as damages by reason of such expiration or termination, an amount equal to the maximum allowed by any statute 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 be greater, equal to or less than the amount of the difference referred to above. Notwithstanding the foregoing, Landlord and Tenant agree that it is extremely difficult and impractical to establish the amount of damages Landlord would sustain upon an Event of Default. The parties hereby agree that a reasonable estimate of such other amounts necessary to compensate Landlord in such event and not otherwise included herein is the sum of the principal amount of the Notes then outstanding plus interest accrued thereon together with the Make Whole Amount, less the amounts set forth above in this paragraph (the "Liquidated Damages"). Landlord shall be entitled such Liquidated Damages from Tenant not as a penalty but as liquidated damages. In addition to the aforesaid remedies, Landlord shall be entitled to pursue any other remedy now or hereafter available to Landlord at equity or under the laws or judicial decisions of the state where the Demised Premises is located or by statute or otherwise. All rights and remedies of Landlord herein enumerated shall be cumulative, and the exercise or the commencement of the exercise by Landlord of any one or more of such rights or remedies should not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies. Tenant shall pay, upon demand, all of Landlord's costs, including reasonable attorneys' fees and court costs, incident to the enforcement of Tenant's obligations hereunder. A receipt by Landlord of rent 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 provisions of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. Without limiting the generality of the foregoing, no failure by Landlord to insist upon the performance of any of the terms of this Lease or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of such breach or any of the terms of this Lease, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord shall not be construed as a waiver of a subsequent breach of the same covenant, term or condition. In addition to other remedies in this Lease provided, Landlord shall be entitled to seek a restraint by injunction of the violation or attempted or threatened violation of the covenants, conditions and provisions of this Lease.

Appears in 1 contract

Samples: Lease (Document Sciences Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.