LESSEE'S LIABILITY UPON TERMINATION Sample Clauses

LESSEE'S LIABILITY UPON TERMINATION. In the event Lessor elects to terminate the Lease by reason of an Event of Default, then notwithstanding such termination, Lessee shall be liable for and shall pay to Lessor, at Lessor's address as shown in Item 2 of the Basic Lease Provisions, the sum of all rent and other indebtedness accrued to the date of such termination, and all expenses incurred by Lessor as provided in Article 31.6, plus, as damages, an amount equal to the rental payable hereunder for the remaining portion of the Lease term (had such term not been terminated by Lessor prior to the stated term set forth in the Basic Lease Provisions), less the fair market rental value of the Leased Premises for the remaining portion of the Lease term, as determined by Lessor. Lessor and Lessee hereby agree that such fair market rental value shall in no event be deemed to exceed fifty percent (50%) of the rental payable hereunder for the remaining portion of the Lease term; provided, however, that in the event Lessor relets or lists the Leased Premises for reletting (including any ongoing general listing with a licensed broker for leasing of space in the Building generally) following a termination of this Lease as a result of a Tenant default, Lessor and Lessee hereby stipulate and agree that the fair market value of the Leased Premises for the period between the date that the Leased Premises are listed as available for lease and the date of judgment in a suit by Landlord herein shall not exceed the lesser of (i) fifty percent (50%) of the rental that would have accrued hereunder for that period, or (ii) the actual net amount collected by Lessor as a result of such reletting, if any. The foregoing fifty percent (50%) limitation on the credit for the fair market rental value of the Leased Premises following default shall be limited to situations where termination by Lessor is the result, in whole or in part, of (A) defaults by Lessee in the nature specified in Articles 31.1(a), (b), (c), and (d), above (which are hereby stipulated and agreed to go to the essence of this Lease and to be material defaults), and (B) defaults by Lessee under Articles 31.1(e) and (f) only to the extent that the particular default in question under Article 31.1(e) or (f) is material in the context of the overall agreement of the parties represented by this Lease (provided that a violation of any use restriction contained herein is expressly stipulated to constitute a material default by Lessee).
Sample 1
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LESSEE'S LIABILITY UPON TERMINATION. In the event Lessor elects to terminate the Lease by reason of an Event of Default, then notwithstanding such termination, Lessee shall be liable for and shall pay to Lessor, at Lessor’s address as shown in Item 2 of the Basic Lease Provisions, the sum of all rent and other indebtedness accrued to the date of such termination, and all expenses incurred by Lessor as provided in Section 31.6, plus, as damages, an amount equal to the aggregate of the rental payable hereunder for the remaining portion of the Lease Term (had such term not been terminated by Lessor prior to the stated term set forth in the Basic Lease Provisions), less the net present value (discounted at an interest rate equal to eight percent (8%)) of the fair market rental value of the Premises for the remaining portion of the Lease Term, as reasonably determined by Lessor.
Sample 1

Related to LESSEE'S LIABILITY UPON TERMINATION

  • Liability Upon Termination If this Agreement shall be terminated pursuant to Section 8 hereof, the Company shall not then be under any liability to any Underwriter except as provided in Sections 5 and 7 hereof; but, if for any other reason, the Certificates are not delivered by or on behalf of the Company as provided herein, because the Company fails to satisfy any of the conditions set forth in Section 4 hereof or because of any refusal, inability or failure of the Company to perform any agreement herein or to comply with any provision hereof, other than by reason of a default by the Underwriters, the Company will reimburse the Underwriters for all out-of-pocket expenses, including fees and disbursements of counsel, reasonably incurred by the Underwriters in making preparations for the purchase, sale and delivery of such Certificates, but the Company shall then be under no further liability to any Underwriter with respect to such Certificates except as provided in Section 5 and Section 7 hereof.

  • Survival Upon Termination If this Agreement is terminated pursuant to this Article 11, such termination will be without any further liability or obligation of any party hereto, except as provided in Section 6.4, Section 7.3, Section 7.7, Article 10, Section 11.5 and Section 11.6.

  • Liabilities Upon Termination If this Agreement is terminated for any reason other than those set forth in Section 12.01 or is breached, nothing contained herein shall be construed to limit Seller’s or Buyer’s legal or equitable remedies including, without limitation, damages for the breach or failure of any representation, warranty, covenant or agreement contained herein and the right to enforce specific performance of this Agreement.

  • Delivery upon Termination Upon termination of Manager's employment with the Company for any reason, Manager shall promptly deliver to the Company all correspondence, files, manuals, letters, notes, notebooks, reports, programs, plans, proposals, financial documents, and any other documents or data concerning the Company's or any affiliate’s customers, database, business plan, marketing strategies, processes or other materials which contain Confidential Information, together with all other property of the Company or any affiliate in Manager's possession, custody or control. ARTICLE SIX

  • Upon Termination Except as otherwise stated in Section 6, in the event Executive leaves the employ of the Company for any reason prior to the date the Annual Bonus is paid, Executive is not eligible to earn such Annual Bonus, prorated or otherwise.

  • Benefits Payable Upon Termination Following the end of the Employment Period pursuant to Section 5(a), Executive (or, in the event of his death, his surviving spouse, if any, or if none, his estate) shall be paid the type or types of compensation determined to be payable in accordance with the following table, such payment to be made in the form specified in such table and at the time established pursuant to Section 7 hereof. Capitalized terms used in such table shall have the meanings set forth in Section 5(d) hereof.

  • Compensation Upon Termination Upon termination of Executive’s employment during the Employment Term, Executive shall be entitled to the following benefits:

  • Condition upon Termination Upon the termination of the -------------------------- Lease, Tenant shall surrender the Property to Landlord, broom clean and in the same condition as received except for ordinary wear and tear which Tenant was not otherwise obligated to remedy under any provision of this Lease. However, Tenant shall not be obligated to repair any damage which Landlord is required to repair under Article 7 (Damage or Destruction). In addition, Landlord may require Tenant to remove any alterations, additions or improvements (whether or not made with Landlord's consent) prior to the expiration of the Lease and to restore the Property to its prior condition, all at Tenant's expense. All alterations, additions and improvements which Landlord has not required Tenant to remove shall become Landlord's property and shall be surrendered to Landlord upon the expiration or earlier termination of the Lease, except that Tenant may remove any of Tenant's machinery or equipment which can be removed without material damage to the Property. Tenant shall repair, at Tenant's expense, any damage to the Property caused by the removal of any such machinery or equipment. In no event, however, shall Tenant remove any of the following materials or equipment (which shall be deemed Landlord's property) without Landlord's prior written consent: any power wiring or power panels; lighting or lighting fixtures; wall coverings; drapes, blinds or other window coverings; carpets or other floor coverings; heaters, air conditioners or any other heating or air conditioning equipment; fencing or security gates; or other similar building operating equipment and decorations except to the extent installed by Tenant.

  • Action Upon Termination (a) From and after the effective date of termination of this Agreement, pursuant to Sections 13, 14, or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13 or Section 15(b), the applicable Termination Fee. Upon such termination, the Manager shall forthwith:

  • Payment Upon Termination Termination of this Agreement shall not affect the right of the Adviser to receive payment on any unpaid balance of the compensation described in Section 2 earned prior to such termination.

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