Common use of LESSOR'S PERFORMANCE OF LESSEE'S OBLIGATIONS Clause in Contracts

LESSOR'S PERFORMANCE OF LESSEE'S OBLIGATIONS. In case of failure of Lessee to comply with any provision of the Lease or any Schedule, Lessor will have the right, but will not be obligated, to effect such compliance in whole or in part, and all money spent and expenses incurred by Lessor will be paid by Lessee forthwith and will bear interest at the daily equivalent of eighteen percent (18%) per annum from the date said obligation was due. Lessor's action in effecting such compliance will not be a waiver of Lessee's default. All such money spent by and expenses of Lessor and any other obligation assumed or incurred by Lessor in effecting such compliance will constitute additional rent payable to Lessor with the next rent payment.

Appears in 2 contracts

Samples: Master Lease Agreement (Kleinerts Inc /Pa/), Master Lease Agreement (Kleinerts Inc /Pa/)

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LESSOR'S PERFORMANCE OF LESSEE'S OBLIGATIONS. In case of failure of Lessee to comply with any provision of the this Lease or any Schedule, Lessor will have the right, but will not be obligated, to effect such compliance in whole or in part, and all money spent by and expenses incurred by of Lessor will be paid by Lessee forthwith and will bear interest at the daily equivalent of eighteen percent (18%) per annum from the date said obligation was due. Lessor's action in effecting such compliance will not be a waiver of Lessee's default. All such money spent by and expenses of Lessor and any other obligation assumed or incurred by Lessor in effecting such compliance will constitute additional rent payable to Lessor with the next rent payment.

Appears in 2 contracts

Samples: Master Lease Purchase Agreement (G & G Retail Inc), Master Lease Agreement (24/7 Media Inc)

LESSOR'S PERFORMANCE OF LESSEE'S OBLIGATIONS. In case of failure of Lessee to comply with any provision of the this Lease or any ScheduleSchedule hereto, Lessor will have the right, but will not be obligated, to effect such compliance in whole or in part, and all money spent by and expenses incurred by of Lessor (except to the extent constituting any Lessor's Cost component with respect to any Facility) will be paid by Lessee forthwith and will bear interest at the daily equivalent of eighteen twelve percent (1812%) per annum from the date said obligation was due. Lessor's action in effecting such compliance will not be a waiver of Lessee's default. All such money spent by and expenses of Lessor and any other obligation assumed or incurred by Lessor in effecting such compliance will constitute additional rent payable to Lessor with the next rent Rent payment.

Appears in 1 contract

Samples: Master Lease Purchase Agreement (Nestor Inc)

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LESSOR'S PERFORMANCE OF LESSEE'S OBLIGATIONS. In case of failure of Lessee to comply with any provision of the this Lease or any Schedule, Lessor will have the right, but will not be obligated, to effect such compliance in whole or in part, and all money spent and by expenses incurred by of Lessor will be paid by Lessee lessee forthwith and will bear interest at the daily equivalent of eighteen percent (18%) per annum from the date said obligation was due. Lessor's action in effecting such compliance will not be a waiver of Lessee's default. All such money spent by and expenses of Lessor and any other obligation assumed or incurred by Lessor in effecting such compliance will constitute additional rent payable to Lessor with the next rent payment. 13.

Appears in 1 contract

Samples: Master Lease Purchase Agreement (Star Telecommunications Inc)

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