LESSOR'S REMEDIES UPON DEFAULT BY LESSEE. In the event of any material default or breach by Lessee, as provided under Section 10.1((a)) above, Lessor may at any time thereafter, with or without additional notice or demand and without limiting Lessor in the exercise of any right or remedy which Lessor may have by reason of such default or breach: (i) Re-enter the Leased Premises and remove all persons and property from the Leased Premises. In such event, such property may be removed and stored in a public warehouse or elsewhere at the cost, and for the account, of Lessee. Should Lessor elect to re-enter, as provided in this Lease, or should Lessor take possession pursuant to legal proceedings or pursuant to any notice provided for by law, Lessor may either terminate this Lease or Lessor may, from time to time, without terminating this Lease, re-let the Leased Premises or any part 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 on such other terms and conditions as Lessor, in Lessor's reasonable discretion, may deem advisable with the right to make alterations and repairs to the Leased Premises. On each re-letting, (A) Lessee shall be immediately liable to pay to Lessor, in addition to any indebtedness other than Rent due under this Lease, the reasonable expenses of re-letting and of making such alterations and repairs incurred by Lessor, and the amount, if any, by which the Rent provided for under this Lease for the period of re-letting (up to, but not beyond, the Term of this Lease) exceeds the amount agreed to be paid as Rent for the Leased Premises for the period of re-letting; OR (B) at the option of Lessor, rents received by Lessor from re-letting shall be applied, first, to the payment of any indebtedness, other than Rent due under this Lease; second, to the payment of any reasonable expenses of re-letting and making alterations and repairs; and third, to the payment of Rent due and unpaid under this Lease, with the residue, if any, being held by Lessor and applied in payment of future Rent as it may become due and payable under this
Appears in 1 contract
Samples: Lease Agreement (Tumbleweed Inc)
LESSOR'S REMEDIES UPON DEFAULT BY LESSEE. In the event of any material default or breach by Lessee, as provided under Section 10.1((a)10.1(a) above, Lessor may at any time thereafter, with or without additional notice or demand and without limiting Lessor in the exercise of any right or remedy which Lessor may have by reason of such default or breach:
(i) Re-enter Terminate Lessee's right to possession of the Leased Subleased Premises by any lawful means, in which case this Sublease shall terminate and remove Lessee shall immediately surrender possession of the Subleased Premises to Lessor. In such event, Lessor shall be entitled to recover from Lessee all persons damages reasonably incurred by Lessor by reason of Lessee's default, INCLUDING, BUT NOT LIMITED TO (i) the cost of recovering possession of the Subleased Premises, (ii) the expenses of reletting, the cost of any reasonably required new tenant improvements and property from allowances, reasonable attorneys' fees, and any real estate commissions actually paid, AND (iii) the Leased reasonable present value as of the date that Lessor recovers possession of the Subleased Premises of THE EXCESS OF (A) the amount of unpaid Rent which would have been due and payable during the balance of the Term after such date had the Sublease not been terminated by reason of Lessee's default, OVER (B) the amount of net rental income reasonably estimated to be received by Lessor during such period through reletting of the Subleased Premises. Lessor shall exercise Lessor's best efforts to mitigate damages against Lessee by reletting the Subleased Premises in a prompt and commercially reasonable manner.
(ii) Maintain Lessee's right to possession, in which case this Sublease shall continue in effect whether or not Lessee shall have abandoned the Subleased Premises. In such event, such property may Lessor shall be removed and stored in a public warehouse or elsewhere at the cost, and for the account, entitled to enforce all of Lessee. Should Lessor elect to re-enter, as provided in this Lease, or should Lessor take possession pursuant to legal proceedings or pursuant to any notice provided for by law, Lessor may either terminate this Lease or Lessor may, from time to time, without terminating this Lease, re-let the Leased Premises or any part 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 on such other terms and conditions as Lessor, in Lessor's reasonable discretionrights and remedies under this Sublease, may deem advisable with including the right to make alterations and repairs to recover the Leased Premises. On each re-letting, (A) Lessee shall be immediately liable to pay to Lessor, in addition to any indebtedness other than Rent due under this Lease, the reasonable expenses of re-letting and of making such alterations and repairs incurred by Lessor, and the amount, if any, by which the Rent provided for under this Lease for the period of re-letting (up to, but not beyond, the Term of this Lease) exceeds the amount agreed to be paid as Rent for the Leased Premises for the period of re-letting; OR (B) at the option of Lessor, rents received by Lessor from re-letting shall be applied, first, to the payment of any indebtedness, other than Rent due under this Lease; second, to the payment of any reasonable expenses of re-letting and making alterations and repairs; and third, to the payment of Rent due and unpaid under this Lease, with the residue, if any, being held by Lessor and applied in payment of future Rent as it may become becomes due and payable hereunder.
(iii) Require specific performance by Lessee of Lessee's obligations under thisthis Sublease.
(iv) Pursue any other remedy now or hereafter available to Lessor under the laws or judicial decisions of the Commonwealth of Kentucky.
Appears in 1 contract
Samples: Sublease Agreement (Tumbleweed Inc)
LESSOR'S REMEDIES UPON DEFAULT BY LESSEE. In the event of any material default or breach by Lessee, as provided under Section 10.1((a)) above, Lessor may at any time thereafter, with or without additional notice or demand and without limiting Lessor in the exercise of any right or remedy which Lessor may have by reason of such default or breach:
(i) Re-enter Terminate Lessee's right to possession of the Leased Subleased Premises by any lawful means, in which case this Sublease shall terminate and remove Lessee shall immediately surrender possession of the Subleased Premises to Lessor. In such event, Lessor shall be entitled to recover from Lessee all persons damages reasonably incurred by Lessor by reason of Lessee's default, INCLUDING, BUT NOT LIMITED TO (i) the cost of recovering possession of the Subleased Premises, (ii) the expenses of reletting, the cost of any reasonably required new tenant improvements and property from allowances, reasonable attorneys' fees, and any real estate commissions actually paid, AND (iii) the Leased reasonable present value as of the date that Lessor recovers possession of the Subleased Premises of THE EXCESS OF (A) the amount of unpaid Rent which would have been due and payable during the balance of the Term after such date had the Sublease not been terminated by reason of Lessee's default, OVER (B) the amount of net rental income reasonably estimated to be received by Lessor during such period through reletting of the Subleased Premises. Lessor shall exercise Lessor's best efforts to mitigate damages against Lessee by reletting the Subleased Premises in a prompt and commercially reasonable manner.
(ii) Maintain Lessee's right to possession, in which case this Sublease shall continue in effect whether or not Lessee shall have abandoned the Subleased Premises. In such event, such property may Lessor shall be removed and stored in a public warehouse or elsewhere at the cost, and for the account, entitled to enforce all of Lessee. Should Lessor elect to re-enter, as provided in this Lease, or should Lessor take possession pursuant to legal proceedings or pursuant to any notice provided for by law, Lessor may either terminate this Lease or Lessor may, from time to time, without terminating this Lease, re-let the Leased Premises or any part 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 on such other terms and conditions as Lessor, in Lessor's reasonable discretionrights and remedies under this Sublease, may deem advisable with including the right to make alterations and repairs to recover the Leased Premises. On each re-letting, (A) Lessee shall be immediately liable to pay to Lessor, in addition to any indebtedness other than Rent due under this Lease, the reasonable expenses of re-letting and of making such alterations and repairs incurred by Lessor, and the amount, if any, by which the Rent provided for under this Lease for the period of re-letting (up to, but not beyond, the Term of this Lease) exceeds the amount agreed to be paid as Rent for the Leased Premises for the period of re-letting; OR (B) at the option of Lessor, rents received by Lessor from re-letting shall be applied, first, to the payment of any indebtedness, other than Rent due under this Lease; second, to the payment of any reasonable expenses of re-letting and making alterations and repairs; and third, to the payment of Rent due and unpaid under this Lease, with the residue, if any, being held by Lessor and applied in payment of future Rent as it may become becomes due and payable hereunder.
(iii) Require specific performance by Lessee of Lessee's obligations under thisthis Sublease.
(iv) Pursue any other remedy now or hereafter available to Lessor under the laws or judicial decisions of the Commonwealth of Kentucky.
Appears in 1 contract
Samples: Sublease Agreement (Tumbleweed Inc)
LESSOR'S REMEDIES UPON DEFAULT BY LESSEE. In the event of any material default or breach by Lessee, as provided under Section 10.1((a)) above, Lessor may at any time thereafter, with or without additional notice or demand and without limiting Lessor in the exercise of any right or remedy which Lessor may have by reason of such default or breach:
(i) Re-enter Terminate Lessee's right to possession of the Leased Premises by any lawful means, in which case this Lease shall terminate and remove Lessee shall immediately surrender possession of the Leased Premises to Lessor. In such event, Lessor shall be entitled to recover from Lessee all persons damages reasonably incurred by Lessor by reason of Lessee's default, including, but not limited to, (I) the cost of recovering possession of the Leased Premises, (II) the expenses of reletting, the cost of any reasonably required new tenant improvements and property from allowances, reasonable attorneys' fees, and any real estate commissions actually paid, and (III) the reasonable present value as of the date that Lessor recovers possession of the Leased Premises of THE EXCESS OF (A) the amount of unpaid Rent which would have been due and payable during the balance of the Term after such date had the Lease not been terminated by reason of Lessee's default, OVER (B) the amount of net rental income reasonably estimated to be received by Lessor during such period through reletting of the Leased Premises. Lessor shall exercise Lessor's best efforts to mitigate damages against Lessee by re-letting the Leased Premises in a prompt and commercially reasonable manner.
(ii) Maintain Lessee's right to possession, in which case this Lease shall continue in effect whether or not Lessee shall have abandoned the Leased Premises. In such event, such property may Lessor shall be removed and stored in a public warehouse or elsewhere at the cost, and for the account, entitled to enforce all of Lessee. Should Lessor elect to re-enter, as provided in this Lease, or should Lessor take possession pursuant to legal proceedings or pursuant to any notice provided for by law, Lessor may either terminate this Lease or Lessor may, from time to time, without terminating this Lease, re-let the Leased Premises or any part 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 on such other terms and conditions as Lessor, in Lessor's reasonable discretion, may deem advisable with the right to make alterations rights and repairs to the Leased Premises. On each re-letting, (A) Lessee shall be immediately liable to pay to Lessor, in addition to any indebtedness other than Rent due remedies under this Lease, including the reasonable expenses of re-letting and of making such alterations and repairs incurred by Lessor, and the amount, if any, by which right to recover the Rent provided for under this Lease for the period as it becomes due hereunder.
(iii) Require specific performance by Lessee of re-letting (up to, but not beyond, the Term of this Lease) exceeds the amount agreed to be paid as Rent for the Leased Premises for the period of re-letting; OR (B) at the option of Lessor, rents received by Lessor from re-letting shall be applied, first, to the payment of any indebtedness, other than Rent due Lessee's obligations under this Lease; second, .
(iv) Pursue any other remedy now or hereafter available to Lessor under the payment laws or judicial decisions of any reasonable expenses the State of re-letting and making alterations and repairs; and third, to the payment of Rent due and unpaid under this Lease, with the residue, if any, being held by Lessor and applied in payment of future Rent as it may become due and payable under thisOhio.
Appears in 1 contract
Samples: Lease Agreement (Tumbleweed Inc)
