Common use of Landlord’s Rights After Default Clause in Contracts

Landlord’s Rights After Default. 26.01 In the event of a default by Tenant, Landlord, in addition to any other rights or remedies that it may have by virtue of law, shall have the right to either terminate this Lease or from time to time, without terminating this Lease relet the Premises or any part thereof for the account and in the name of Tenant or otherwise, for any such terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Leased Premises. Tenant shall pay to Landlord, as soon as ascertained, the costs and expenses incurred by Landlord in such reletting and in making such alterations and repairs. Rentals received by Landlord from such reletting shall be applied: first, to the payment of any indebtedness, other than rent, due hereunder from Tenant to Landlord; second, to the payment of the cost of any alterations and repairs to the Leased Premises necessary to return the Leased Premises to good condition, normal wear and tear excepted, for uses permitted by this Lease and the cost of storing any Tenant's property left on the Leased Premises at the time of reletting; third, to the payment of rent due and unpaid hereunder and the residence, if any, at the end of the term of this Lease shall be paid to Tenant. Should such rentals received from time to time from such reletting during any month be less than that agreed to be paid during that month by Tenant hereunder, Tenant shall pay such deficiency to Landlord on a monthly basis. 26.02 No such reletting of the Leased Premises by Landlord shall be construed as an election on its part to terminate this Lease unless a notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous breach provided it has not been cured. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedy it may have, it may recover from Tenant all damages it may incur by reason of such breach, including the cost of recovering the Leased Premises and including (1) all amounts that would have fallen due as rent between the time of termination of this Lease and the time of the judgment, or other award, less the avails of all relettings and attornments, plus interest on the balance at the rate of eighteen percent (18%) per year; (1) Landlord may, at its option, declare the entire amount of the rent which would be due and payable during the remainder of the term of this Lease to be due and payable immediately, in which event, Tenant agrees to pay the same upon demand, together with all rents theretofore due to Landlord provided, however, that such payments shall not constitute a penalty or forfeiture or liquidated damages unless elected as same by Landlord. Upon making such payment, Tenant shall receive rentals from other tenants on account of their leasing said Premises during the remaining term of this Lease; provided, however, that the monies to which the Tenant shall become so entitled shall in no event exceed the entire amount payable by Tenant to Landlord as set forth above.

Landlord’s Rights After Default. 26.01 In Upon the event occurrence of a default by Tenantany Event of Default, LandlordLandlord shall have all rights and remedies allowed at law, in equity, by statute and otherwise and in addition the Landlord may give notice to Tenant at any other rights or remedies time after said Event of Default stating that it may have by virtue of law, shall have the Tenant’s right to either terminate this Lease or from possession of the Premises shall expire on the date specified in such notice and upon the date specified in such notice all right of Tenant to possession of the Premises hereunder shall terminate, but Tenant shall remain liable as hereinafter provided. 9.2.1 At any time after the expiration of Tenant’s possessory right to timethe Premises, without terminating this Lease Landlord may relet the Premises or any part thereof for the account and in the name of Landlord or otherwise for such term (which may be greater or less than the period which would otherwise have constituted the balance of the term of this Lease) and on such conditions (which may include concessions or free rent) as Landlord, in its reasonable discretion, may determine, and may collect and receive the rent therefrom. Landlord shall in no way be responsible or liable to Tenant or otherwise, for any failure to relet the Premises or any part thereof, or for any failure to collect any rent due upon any such terms reletting and conditions Tenant’s liability shall not be affected or diminished in any respect by such failure. In the event Landlord relets said Premises at a rental higher than that due from Tenant under the provisions hereof, Tenant shall not be entitled to share in any excess. Landlord, at its option, may make such alterations, repairs and changes in the Premises as Landlord in its sole discretion may deem judgment considers advisable with or necessary for the right to make alterations and repairs to purpose of reletting the Leased Premises. Tenant shall pay to Landlord, as soon as ascertained, the costs and expenses incurred by Landlord in such reletting and in making such alterations and repairs. Rentals received by Landlord from such reletting shall be applied: first, to the payment of any indebtedness, other than rent, due hereunder from Tenant to Landlord; second, to the payment of the cost of any alterations and repairs to the Leased Premises necessary to return the Leased Premises to good condition, normal wear and tear excepted, for uses permitted by this Lease and the cost making of storing any Tenant's property left on the Leased Premises at the time of reletting; thirdsuch alterations, to the payment of rent due repairs and unpaid hereunder and the residence, if any, at the end of the term of this Lease changes shall be paid to Tenant. Should such rentals received from time to time from such reletting during any month be less than that agreed to be paid during that month by Tenant hereunder, Tenant shall pay such deficiency to Landlord on a monthly basis. 26.02 No such reletting of the Leased Premises by Landlord shall not operate or be construed as an election on its part to terminate this Lease unless a notice of such intention be given to release Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding from any such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous breach provided it has not been cured. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedy it may have, it may recover from Tenant all damages it may incur by reason of such breach, including the cost of recovering the Leased Premises and including (1) all amounts that would have fallen due as rent between the time of termination of this Lease and the time of the judgment, or other award, less the avails of all relettings and attornments, plus interest on the balance at the rate of eighteen percent (18%) per year; (1) Landlord may, at its option, declare the entire amount of the rent which would be due and payable during the remainder of the term of this Lease to be due and payable immediately, in which event, Tenant agrees to pay the same upon demand, together with all rents theretofore due to Landlord provided, however, that such payments shall not constitute a penalty or forfeiture or liquidated damages unless elected as same by Landlord. Upon making such payment, Tenant shall receive rentals from other tenants on account of their leasing said Premises during the remaining term of this Lease; provided, however, that the monies to which the Tenant shall become so entitled shall in no event exceed the entire amount payable by Tenant to Landlord as set forth aboveliability.

Landlord’s Rights After Default. 26.01 In 9.2.1 Upon the event occurrence of a default by Tenantany Event of Default, LandlordLandlord shall have all rights and remedies allowed at law, in equity, by statute and otherwise and in addition the Landlord may give notice to Tenant at any other rights or remedies time after said Event of Default stating that it may have by virtue of law, shall have the Tenant's right to either terminate this Lease or from possession of the Premises shall expire on the date specified in such notice and upon the date specified in such notice all right of Tenant to possession of the Premises hereunder shall terminate, but Tenant shall remain liable as hereinafter provided. 9.2.2 At any time after the expiration of Tenant's possessory right to timethe Premises, without terminating this Lease Landlord may relet the Premises or any part thereof for the account and in the name of Landlord or otherwise for such term (which may be greater or less than the period which would otherwise have constituted the balance of the term of this Lease) and on such conditions (which may include concessions or free rent) as Landlord, in its reasonable discretion, may determine, and may collect and receive the rent therefrom. Landlord shall in no way be responsible or liable to Tenant or otherwise, for any failure to relet the Premises or any part thereof, or for any failure to collect any rent due upon any such terms reletting and conditions Tenant's liability shall not be affected or diminished in any respect by such failure so long as Landlord has made a reasonable, good faith effort to mitigate its damages as required by law. In the event Landlord relets said Premises at a rental higher than that due from Tenant under the provisions hereof, Tenant shall not be entitled to share in any excess. Landlord, at its option, may make such alterations, repairs and changes in the Premises as Landlord in its sole discretion may deem judgment considers advisable with or necessary for the purpose of reletting the Premises, and the making of such alterations, repairs and changes shall not operate or be construed to release Tenant from any liability. 9.2.3 At any time after any expiration of Tenant's possessory right to make alterations the Premises, Landlord at its option and repairs to the Leased Premises. as an alternative and in lieu of collection of damages as set forth in Section 9.3.2, below, may demand as and ------------- for liquidated and agreed final damages for Tenant's default(s), and Tenant shall pay to Landlord, as soon as ascertainedan amount equal to the difference between the Rent (including Additional Rent reasonably projected by Landlord) payable hereunder for the unexpired portion of the Term and the then fair and reasonable rental value of the Premises for the same period, discounted at the rate of four percent (4%) per annum from the date of expiration of Tenant's possessory right to the end of the Term of the Lease. Tenant shall also pay to Landlord all of Landlord's reasonable expenses incurred in connection with any reletting, including without limitation all repossession costs, brokerage commissions, legal expenses, reasonable attorney's fees, alteration and repair costs, and expenses of preparation for reletting (which shall be limited to building standard materials). If the Premises, or any part thereof, are relet by Landlord for the unexpired Term of this Lease or any part thereof, the costs and expenses incurred by Landlord in such reletting and in making such alterations and repairs. Rentals received by Landlord from amount of rent payable upon such reletting shall be applied: first, deemed to be the payment of any indebtedness, other than rent, due hereunder from Tenant to Landlord; second, to fair and reasonable rental value for the payment part or the whole of the cost of any alterations and repairs to the Leased Premises necessary to return the Leased Premises to good condition, normal wear and tear excepted, for uses permitted by this Lease and the cost of storing any Tenant's property left on the Leased Premises at the time of reletting; third, to the payment of rent due and unpaid hereunder and the residence, if any, at the end of so relet during the term of this Lease shall be paid to Tenant. Should such rentals received from time to time from such reletting during any month be less than that agreed to be paid during that month by Tenant hereunder, the reletting. 9.2.4 If Tenant shall pay such deficiency to Landlord on a monthly basis. 26.02 No such reletting default in the performance of the Leased Premises by Landlord shall be construed any of Tenant's covenants or agreements herein contained beyond any express cure period as an election on its part to terminate this Lease unless a notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding any such reletting without terminationprovided herein, Landlord may at cure said default(s) on behalf of Tenant. Any amount paid, or expense or liability incurred by, Landlord in the performance of any time thereafter elect such matter for the account of Tenant shall be deemed to terminate this Lease for such previous breach provided it has not been cured. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedy it may have, it may recover from Tenant all damages it may incur by reason of such breach, including the cost of recovering the Leased Premises and including (1) all amounts that would have fallen due as rent between the time of termination of this Lease be Additional Rent and the time same, together with the greater of the judgment, or other award, less the avails of all relettings and attornments, plus interest on the balance thereon at the rate of eighteen percent (18%) per year; (1) Landlord mayannum, or the maximum interest rate allowed by law from the date upon which any such expense shall have been incurred, may be added, at its optionthe option of Landlord, declare the entire amount of the rent which would to any Rent then due or thereafter falling due hereunder. Nothing contained herein shall be due and payable during the remainder of the term of this Lease construed to be due and payable immediatelyprevent Landlord from immediately collecting from Tenant by suit or otherwise, in which event, Tenant agrees to pay the same upon demand, together any such sums with all rents theretofore due to Landlord provided, however, that such payments shall not constitute a penalty or forfeiture or liquidated damages unless elected as same by Landlord. Upon making such payment, Tenant shall receive rentals from other tenants on account of their leasing said Premises during the remaining term of this Lease; provided, however, that the monies to which the Tenant shall become so entitled shall in no event exceed the entire amount payable by Tenant to Landlord as set forth aboveinterest.

Landlord’s Rights After Default. 26.01 In 9.2.1 Upon the event occurrence of a default by Tenantany Event of Default, LandlordLandlord shall have all rights and remedies allowed at law, in equity, by statute and otherwise and in addition the Landlord may give notice to Tenant at any other rights or remedies time after said Event of Default stating that it may have by virtue of law, shall have the Tenant’s right to either terminate this Lease or from possession of the Premises shall expire on the date specified in such notice and upon the date specified in such notice all right of Tenant to possession of the Premises hereunder shall terminate, but Tenant shall remain liable as hereinafter provided. 9.2.2 At any time after the expiration of Tenant’s possessory right to timethe Premises, without terminating this Lease Landlord may relet the Premises or any part thereof for the account and in the name of Landlord or otherwise for such term (which may be greater or less than the period which would otherwise have constituted the balance of the term of this Lease) and on such conditions (which may include concessions or free rent) as Landlord, in its reasonable discretion, may determine, and may collect and receive the rent therefrom. Landlord shall in no way be responsible or liable to Tenant or otherwise, for any failure to relet the Premises or any part thereof, or for any failure to collect any rent due upon any such terms reletting and conditions Tenant’s liability shall not be affected or diminished in any respect by such failure. In the event Landlord relets said Premises at a rental higher than that due from Tenant under the provisions hereof, Tenant shall not be entitled to share in any excess. Landlord, at its option, may make such alterations, repairs and changes in the Premises as Landlord in its sole discretion may deem judgment considers advisable with or necessary for the purpose of reletting the Premises, and the making of such alterations, repairs and changes shall not operate or be construed to release Tenant from any liability. 9.2.3 At any time after any expiration of Tenant’s possessory right to make alterations the Premises, Landlord at its option and repairs to the Leased Premises. as an alternative and in lieu of collection of damages as set forth in Section 9.3.2, below, may demand as and for liquidated and agreed final damages for Tenant’s default(s), and Tenant shall pay to Landlord, as soon as ascertainedan amount equal to the difference between the Rent (including Additional Rent reasonably projected by Landlord) payable hereunder for the unexpired portion of the Term and the then fair and reasonable rental value of the Premises for the same period, discounted at the rate of four percent (4%) per annum from the date of expiration of Tenant’s possessory right to the end of the Term of the Lease. Tenant shall also pay to Landlord all of Landlord’s expenses incurred in connection with any reletting, including without limitation all repossession costs, brokerage commissions, legal expenses, reasonable attorney’s fees, alteration and repair costs, and expenses of preparation for reletting. If the Premises, or any part thereof, are relet by Landlord for the unexpired Term of this Lease or any part thereof, the costs and expenses incurred by Landlord in such reletting and in making such alterations and repairs. Rentals received by Landlord from amount of rent payable upon such reletting shall be applied: first, deemed to be the payment of any indebtedness, other than rent, due hereunder from Tenant to Landlord; second, to fair and reasonable rental value for the payment part or the whole of the cost of any alterations and repairs to the Leased Premises necessary to return the Leased Premises to good condition, normal wear and tear excepted, for uses permitted by this Lease and the cost of storing any Tenant's property left on the Leased Premises at the time of reletting; third, to the payment of rent due and unpaid hereunder and the residence, if any, at the end of so relet during the term of this Lease shall be paid to Tenant. Should such rentals received from time to time from such reletting during any month be less than that agreed to be paid during that month by Tenant hereunder, the reletting. 9.2.4 If Tenant shall pay such deficiency to Landlord on a monthly basis. 26.02 No such reletting default in the performance of the Leased Premises by Landlord shall be construed as an election on its part to terminate this Lease unless a notice any of such intention be given to Tenant Tenant’s covenants or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding any such reletting without terminationagreements herein contained, Landlord may at cure said default(s) on behalf of Tenant. Any amount paid, or expense or liability incurred by, Landlord in the performance of any time thereafter elect such matter for the account of Tenant shall be deemed to terminate this Lease for such previous breach provided it has not been cured. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedy it may have, it may recover from Tenant all damages it may incur by reason of such breach, including the cost of recovering the Leased Premises and including (1) all amounts that would have fallen due as rent between the time of termination of this Lease be Additional Rent and the time same, together with the greater of the judgment, or other award, less the avails of all relettings and attornments, plus interest on the balance thereon at the rate of eighteen percent (18%) per year; (1) Landlord mayannum, or the maximum interest rate allowed by law from the date upon which any such expense shall have been incurred, may be added, at its optionthe option of Landlord, declare the entire amount of the rent which would to any Rent then due or thereafter falling due hereunder. Nothing contained herein shall be due and payable during the remainder of the term of this Lease construed to be due and payable immediatelyprevent Landlord from immediately collecting from Tenant by suit or otherwise, in which event, Tenant agrees to pay the same upon demand, together any such sums with all rents theretofore due to Landlord provided, however, that such payments shall not constitute a penalty or forfeiture or liquidated damages unless elected as same by Landlord. Upon making such payment, Tenant shall receive rentals from other tenants on account of their leasing said Premises during the remaining term of this Lease; provided, however, that the monies to which the Tenant shall become so entitled shall in no event exceed the entire amount payable by Tenant to Landlord as set forth aboveinterest.