LESSOR'S REMEDIES UPON DEFAULT. 21.1 In the event of any Event of Default on the part of Lessee, Lessor may, if it so elects, upon written notice to Lessee of such election, forthwith terminate this Lease and Lessee's right to possession of the Demised Premises, or, at the option of the Lessor, terminate Lessee's right to possession of the Demised Premises without terminating this Lease. Upon any such termination of this Lease, or upon any such termination of Lessee's right to possession without termination of this Lease, Lessee shall vacate the Demised Premises immediately, and shall quietly and peaceably deliver possession thereof to the Lessor, and Lessee hereby grants to the Lessor full and free license to enter into and upon the Demised Premises in such event with or without process of law and to repossess the Demised Premises and Personal Property as the Lessor's former estate. In the event of any such termination of this Lease, the Lessor shall again have possession and enjoyment of the Demised Premises and Personal Property to the extent as if this Lease had not been made, and thereupon this Lease and everything herein contained on the part of Lessee to be done and performed shall cease and terminate, all, however, without prejudice to and without relinquishing the rights of the Lessor to Rent (which, upon such termination of this Lease and entry of Lessor upon the Demised Premises, shall, in any event, be the right to receive Rent due up to the time of such entry) or any other right given to the Lessor hereunder or by operation of law. 21.2 In the event of any Event of Default and Lessor's election either to terminate this Lease or to terminate Lessee's right to possession of the Demised Premises, then all licenses, certifications, permits and authorizations issued by any governmental agency, body or authority in connection with or relating to the Demised Premises and the nursing home operated thereon shall be deemed to be assigned to Lessor, to the extent permitted by law. Lessor shall also have the right to continue to utilize the telephone number and name (other than the name "Sunrise Healthcare" or similar name) used by Lessee in connection with the operation of the nursing home located on the Demised Premises. This Lease shall be deemed and construed as an assignment for purposes of vesting in Lessor, all right, title and interest in and to: (i) all licenses, certifications, permits and authorizations obtained in connection with the operation of the nursing home located on the Demised Premises; and (ii) the name and telephone number used in connection with the operation of the nursing home located on the Demised Premises (other than the name "Sunrise Healthcare" or similar name). Lessee hereby agrees to take such other action and execute such other documents as may be necessary in order to vest in Lessor all right, title and interest to the items specified herein, to the extent permitted by law. 21.3 If Lessee abandons the Demised Premises or otherwise entitles Lessor so to elect, and the Lessor elects to terminate Lessee's right to possession only, without terminating this Lease, Lessor may, at its option, enter into the Demised Premises, remove Lessee's signs and other evidences of tenancy and take and hold possession thereof as in the foregoing paragraph 21.2 of this Article provided, without such entry and possession terminating this Lease or releasing Lessee, in whole or in part, from Lessee's obligation to pay the Rent hereunder for the full remaining Term of this Lease, and in any such case, Lessee shall pay to Lessor a sum equal to the entire amount of the Rent reserved hereunder and required to be paid by Lessee up to the time of such termination of the right of possession plus any other sums then due hereunder. Upon and after entry into possession without termination of this Lease, Lessor may attempt to relet the Demised Premises or any part thereof for the account of Lessee for such Rent, or shall operate the nursing home located on the Demised Premises for such time and upon such terms as Lessor in its sole discretion shall determine. In any such case, Lessor may make repairs, alterations and additions in or to the Demised Premises, and redecorate the same to the extent deemed desirable by Lessor, and Lessee shall, upon demand, pay the reasonable cost thereof, together with Lessor's reasonable expenses of reletting. If the consideration collected by Lessor upon any such reletting is not sufficient to pay monthly the full amount of Rent reserved in this Lease, together with the reasonable costs of repairs, alterations, additions, redecorating and Lessor's expenses, Lessee shall pay to the Lessor the amount of each monthly deficiency upon demand. 21.4 Lessee's liability to Lessor for damages for default in payment of Rent or otherwise hereunder shall in all events survive the termination by Lessor of the Lease or the termination by Lessor of Lessee's right to possession only, as hereinabove provided. Upon such termination of the Lease or at any time after such termination of Lessee's right to possession, Lessor may recover from Lessee and Lessee shall pay to Lessor as damages, whether or not Lessor shall have collected any current monthly deficiencies under the foregoing paragraph, and in lieu of such current deficiencies after the date of demand for such damages, the amount thereof found to be due by a court of competent jurisdiction, which amount thus found may be equal to: (a) the remainder, if any, of Rent and charges due from Lessee for the period up to and including the date of the termination of the Lease or Lessee's right to possession; (b) the amount of any current monthly deficiencies accruing and unpaid by Lessee up to and including the date of Lessor's demand for final damages hereunder; and (c) the excess, if any, of: (i) the present value, discounted at the rate of 10% per annum, of the Rent reserved for what would have been the remainder of the Term of this Lease together with charges to be paid by Lessee under the Lease; over (ii) the present value, discounted at the rate of 10% per annum of the then fair rental value of the Demised Premises and the Personal Property. If any statute or rule governing a proceeding in which such damages are to be proved shall validly limit the amount thereof to an amount less than the amount above agreed upon, Lessor shall be entitled to the maximum amount allowable under such statute or rule of law.
Appears in 4 contracts
Samples: Lease Agreement (Sun Healthcare Group Inc), Lease Agreement (Sun Healthcare Group Inc), Lease Agreement (Sun Healthcare Group Inc)
LESSOR'S REMEDIES UPON DEFAULT. 21.1 In the event of any Event default under or breach of Default on the part of Lesseethis Lease by Lessee (after any applicable cure periods have expired), Lessor may, if it so electsat any time thereafter, upon written with or without notice to Lessee or demand and without limiting any right or remedy which Lessor may have by reason of such electiondefault or breach, forthwith exercise any of the following remedies:
(1) Lessor may continue this Lease in full force and effect, and this Lease shall continue in full force and effect as long as Lessor does not terminate this Lease Lease, and Lessee's Lessor shall have the right to possession of the Demised Premises, or, at the option of the Lessor, collect rent and other amounts when due.
(2) Lessor may terminate Lessee's right to possession of the Demised Premises without terminating this Leaseat any time by giving written notice to that effect and may relet the Premises and no other notice shall be required. Upon any such termination of this Lease, or upon any such termination of Lessee's right to possession without termination of this Lease, Lessee shall vacate be liable immediately to Lessor for all costs Lessor incurs in reletting the Demised Premises immediatelyor any part thereof, and shall quietly and peaceably deliver possession thereof to the Lessor, and Lessee hereby grants to the Lessor full and free license to enter into and upon the Demised Premises in such event with or without process of law and to repossess the Demised Premises and Personal Property as the Lessor's former estate. In the event of any such termination of this Lease, the Lessor shall again have possession and enjoyment of the Demised Premises and Personal Property to the extent as if this Lease had not been made, and thereupon this Lease and everything herein contained on the part of Lessee to be done and performed shall cease and terminate, all, howeverincluding, without prejudice to limitation, broker's commissions, expenses of cleaning the Premises required by the reletting and without relinquishing like costs. Reletting may be for a period shorter or longer than the rights of the Lessor to Rent (which, upon such termination remaining Term of this Lease and entry for a part or all of the Premises. No act by Lessor upon the Demised Premises, shall, in any event, be the right other than giving written notice to receive Rent due up to the time of such entry) or any other right given to the Lessor hereunder or by operation of law.
21.2 In the event of any Event of Default and Lessor's election either to Lessee shall terminate this Lease or to terminate Lessee's right to possession Lease. Acts of the Demised Premisesmaintenance, then all licenses, certifications, permits and authorizations issued by any governmental agency, body or authority in connection with or relating to the Demised Premises and the nursing home operated thereon shall be deemed to be assigned to Lessor, to the extent permitted by law. Lessor shall also have the right to continue to utilize the telephone number and name (other than the name "Sunrise Healthcare" or similar name) used by Lessee in connection with the operation of the nursing home located on the Demised Premises. This Lease shall be deemed and construed as an assignment for purposes of vesting in Lessor, all right, title and interest in and to: (i) all licenses, certifications, permits and authorizations obtained in connection with the operation of the nursing home located on the Demised Premises; and (ii) the name and telephone number used in connection with the operation of the nursing home located on the Demised Premises (other than the name "Sunrise Healthcare" or similar name). Lessee hereby agrees to take such other action and execute such other documents as may be necessary in order to vest in Lessor all right, title and interest to the items specified herein, to the extent permitted by law.
21.3 If Lessee abandons the Demised Premises or otherwise entitles Lessor so to elect, and the Lessor elects to terminate Lessee's right to possession only, without terminating this Lease, Lessor may, at its option, enter into the Demised Premises, remove Lessee's signs and other evidences of tenancy and take and hold possession thereof as in the foregoing paragraph 21.2 of this Article provided, without such entry and possession terminating this Lease or releasing Lessee, in whole or in part, from Lessee's obligation to pay the Rent hereunder for the full remaining Term of this Lease, and in any such case, Lessee shall pay to Lessor a sum equal to the entire amount of the Rent reserved hereunder and required to be paid by Lessee up to the time of such termination of the right of possession plus any other sums then due hereunder. Upon and after entry into possession without termination of this Lease, Lessor may attempt efforts to relet the Demised Premises or any part thereof for the account appointment of Lessee for such Rent, or shall operate the nursing home located a receiver on the Demised Premises for such time and upon such terms as Lessor in its sole discretion shall determine. In any such case, Lessor may make repairs, alterations and additions in or to the Demised Premises, and redecorate the same to the extent deemed desirable by Lessor, and Lessee shall, upon demand, pay the reasonable cost thereof, together with Lessor's reasonable expenses of reletting. If the consideration collected by Lessor upon any such reletting is not sufficient initiative to pay monthly the full amount of Rent reserved in this Lease, together with the reasonable costs of repairs, alterations, additions, redecorating and protect Lessor's expenses, Lessee interest under this Lease shall pay to the Lessor the amount of each monthly deficiency upon demand.
21.4 Lessee's liability to Lessor for damages for default in payment of Rent or otherwise hereunder shall in all events survive the termination by Lessor of the Lease or the termination by Lessor of Lessee's right to possession only, as hereinabove provided. Upon such termination of the Lease or at any time after such not constitute a termination of Lessee's right to possession. On termination, Lessor may has the right to remove all Lessee's personal property which Lessee does not remove and store same at Lessee's cost and to recover from Lessee and Lessee shall pay to Lessor as damages:
(i) The worth at the time of award of unpaid rent and other sums due and payable which had been earned at the time of termination; plus
(ii) The worth at the time of award of the amount by which the unpaid rent and other sums which would have been payable after termination but before the time of award exceeds the amount of such rent loss that Lessee proves could have been reasonably avoided; plus
(iii) The worth at the time of award of the amount by which the unpaid rent and other sums due and payable for the balance of the regularly scheduled Term and any exercised extensions thereof after the time of award exceeds the amount of such rent loss that Lessee proves can be reasonably avoided; plus
(iv) The other amounts which are necessary to compensate Lessor for the damages proximately caused by Lessee's failure to perform Lessee's obligations under this Lease or which would be likely to result therefrom: (1) in retaking possession of the Premises; (2) in maintaining, whether repairing, preserving, restoring, replacing, cleaning, altering or not rehabilitating the Premises or any portion thereof, including such acts for reletting to a new lessee or lessees; (3) for leasing commissions; or (4) for any other costs necessary or appropriate to relet the Premises. Lessor shall have collected also be entitled to recover the unamortized cost of any current monthly deficiencies under the foregoing paragraphLessor's Work, Tenant Improvement Allowance, and free/reduced rent periods or other incentives granted to Lessee under this Lease, such unamortized portion being determined by reference to the number of months during which Lessee was not in lieu default under this Lease and the total number of such current deficiencies after months in the initial Lease Term and any exercised extensions thereof, all on a straight line basis. The "worth at the time of award" of the amounts referred to in subsections (i) and (ii) above is computed by allowing interest at the Default Rate (as hereinafter defined) on the unpaid rent and other sums due and payable from the termination date through the date of demand for such damages, award. The "worth at the time of award" of the amount thereof found referred to be due in subsection (iii) above is computed by a court discounting such amount at the discount rate of competent jurisdiction, which amount thus found may be equal to:the Federal Reserve Bank of San Francisco at the time of award.
(a3) Lessor may perform or provide the same, together with interest on such costs accruing at the lesser rate (the "DEFAULT RATE") of (i) twelve percent (12%) per annum, or (ii) the remaindermaximum rate permitted by applicable law, if any, of Rent and charges due computed from Lessee for the period up to and including the date of the termination of the Lease or Lessee's right to possession;
(b) the amount of any current monthly deficiencies accruing and unpaid by Lessee up to and including the date of Lessor's demand for final damages hereunder; andpayment of such costs to the date of reimbursement.
(c4) Lessor may have a receiver appointed for Lessee to take possession of the excess, if any, of:Premises and to apply any rent collected from the Premises and to exercise all other rights and remedies granted to Lessor as an attorney-in-fact for Lessee.
(i5) Lessor may attach, assemble, store and dispose of all of Lessee's fixtures and property remaining on the present value, discounted at Premises.
(6) Lessor may pursue any other remedy now or hereafter available to Lessor under the rate of 10% per annum, laws or judicial decisions of the Rent reserved State of Washington. Lessor may xxx periodically to recover damages as they accrue under this Lease, and no one action for what would have been the remainder of the Term of this Lease together with charges to be paid by Lessee under the Lease; over
(ii) the present value, discounted at the rate of 10% per annum of the then fair rental value of the Demised Premises and the Personal Property. If any statute or rule governing a proceeding in which such accrued damages are to be proved shall validly limit the amount thereof to an amount less than the amount above agreed upon, Lessor shall be entitled a bar to the maximum amount allowable under such statute or rule of lawa later action for damages subsequently accruing.
Appears in 2 contracts
Samples: Lease Agreement (Go2net Inc), Lease (Infospace Inc)
LESSOR'S REMEDIES UPON DEFAULT. 21.1 In the event of any Event of Default on the part of Lessee, Lessor may, if it so elects, with or without any demand whatsoever upon written notice to Lessee of such electionLessee, forthwith either to (i) terminate this Lease and Lessee's ’s right to possession of the Demised Premises, or, at the option of the Lessor, ; or (ii) terminate Lessee's ’s right to possession of the Demised Premises without terminating this Lease. Upon any such termination of this Lease, or upon any such termination of Lessee's ’s right to possession without termination of this Lease, Lessee shall vacate the Demised Premises immediately, and shall quietly and peaceably deliver possession thereof to the Lessor, and Lessee hereby grants to the Lessor full and free license to enter into and upon the Demised Premises in such event with or without process of law and to repossess the Demised Premises and the related Personal Property as the Lessor's ’s former estate. In the event of any such termination of this Lease, the Lessor shall again have possession and enjoyment of the Demised Premises subject to such termination and the related Personal Property to the extent and as if this Lease had not been made, and thereupon this Lease the lease of the Demised Premises and everything herein contained on the part of Lessee to be done and performed in connection therewith shall cease and terminate, all, however, without prejudice to and without relinquishing the rights of the Lessor to Rent (which, upon such termination of this Lease and entry of Lessor upon the Demised PremisesPremises or any portion thereof, shall, in any event, be the right to receive Rent due up to the time of such entry) or any other right given to the Lessor hereunder or by operation of law.
21.2 In the event of any Event of Default and Lessor's election Lessor elects either to terminate this Lease or to terminate Lessee's ’s right to possession of the Demised PremisesPremises upon the occurrence of an Event of Default, then all licenses, certifications, permits and authorizations issued by any governmental agency, body or authority in connection with or relating to the Demised Premises and the nursing home operated thereon Facilities shall be deemed to be as being assigned to Lessor, to the extent permitted by law. Lessor shall also have the right to continue to utilize the telephone number numbers and name (other than the name "Sunrise Healthcare" or similar name) names used by Lessee in connection with the operation of the nursing home homes located on the Demised PremisesFacilities. This Lease shall be deemed and construed as an assignment for purposes of vesting in Lessor, Lessor all right, title and interest in and to: to (i) all licenses, certifications, permits and authorizations obtained in connection with the operation of the nursing home located on the Demised Premises; Facilities and (ii) the name names and telephone number numbers used in connection with the operation of the nursing home located on the Demised Premises (other than the name "Sunrise Healthcare" or similar name)Facilities. Lessee hereby agrees to take such other action and execute such other documents as may be necessary in order to vest in Lessor all right, title and interest to the items specified herein, to the extent permitted by law.
21.3 If Lessee abandons the Demised Premises or otherwise entitles Lessor so to elect, and the Lessor elects elects, to terminate Lessee's ’s right to possession only, only of the Demised Premises without terminating this Lease, Lessor may, at its option, enter into the Demised Premises, remove Lessee's ’s signs and other evidences evidence of tenancy and take and hold possession thereof as provided in the foregoing paragraph 21.2 Section 21.1 of this Article providedArticle, without such entry and possession terminating this Lease or releasing Lessee, in whole or in part, from Lessee's ’s obligation to pay the Rent hereunder for the full remaining Term of this LeaseTerm, and in any such case, Lessee shall pay to Lessor a sum equal to the entire amount of the Rent reserved hereunder and required to be paid by Lessee up to the time of such termination of the right of possession plus any other sums then due hereunder. Upon and after entry into possession without termination of this Lease, Lessor may attempt to relet the Demised Premises or any part thereof for the account of Lessee for such Rent, or shall operate the nursing home located on the Demised Premises Facilities for such time and upon such terms as Lessor in its sole discretion shall determine. In any such case, Lessor may make repairs, alterations and additions in or to the Demised Premises, and redecorate the same to the extent deemed desirable by LessorLessor desirable, and Lessee shall, upon demand, pay the reasonable cost thereof, together with Lessor's reasonable ’s expenses of reletting. If the consideration collected by Lessor upon any such reletting is not sufficient to pay monthly the full amount of Rent reserved in this Lease, together with the reasonable costs of repairs, alterations, additions, redecorating and Lessor's ’s expenses, Lessee shall pay to the Lessor the amount of each monthly deficiency upon demand.
21.4 Lessee's liability to Lessor for damages for default in payment of Rent or otherwise hereunder shall in all events survive the termination by Lessor of the Lease or the termination by Lessor of Lessee's right to possession only, as hereinabove provided. Upon any such termination of the this Lease or at any time after such termination of Lessee's ’s right to possession, Lessor may recover from Lessee and Lessee shall pay to Lessor as liquidated and final damages, whether or not Lessor shall have collected any current monthly deficiencies under the foregoing paragraph, and in lieu of such current deficiencies after the date of demand for such final damages, the amount thereof found to be due by a court of competent jurisdiction, which amount thus found may be equal to:
(a1) the remainder, if any, of Rent and charges due from Lessee for the period up to and including the date of the termination of the this Lease or Lessee's ’s right to possession;; and
(b2) the amount of any current monthly deficiencies accruing and unpaid by Lessee up to and including the date of Lessor's ’s demand for final damages hereunder; and
(c3) the excess, if any, of:
(i) the present value, discounted at the rate of 10% per annum, of the Rent reserved for what would have been the remainder of the Term of this Lease with respect to the Demised Premises together with charges to be paid by Lessee under the this Lease; over
(ii) the present value, discounted at the rate of 10% per annum of the then fair rental value of the Demised Premises and the Personal Property. If any statute or rule governing a proceeding in which such liquidated final damages are to be proved shall validly limit the amount thereof to an amount less than the amount above agreed upon, Lessor shall be entitled to the maximum amount allowable under such statute or rule of law.
Appears in 2 contracts
Samples: Master Lease (Assisted 4 Living, Inc.), Master Lease (Assisted 4 Living, Inc.)
LESSOR'S REMEDIES UPON DEFAULT. 21.1 In 19.01 Lessor shall have the event following remedies upon the occurrence of any an Event of Default on the part of LesseeDefault, such remedies being cumulative and not exclusive and in addition to any other remedies available to Lessor may, if it so elects, upon written notice to Lessee of such election, forthwith terminate as now or hereafter provided by law:
(a) Lessor can continue this Lease in full force and Lessee's right to possession of effect, and the Demised Premises, or, at the option of the Lessor, Lease will continue in effect as long as Lessor does not terminate Lessee's right to possession possession, and Lessor shall have the right to collect rent when due, irrespective of whether Lessee shall have abandoned the Demised Premises without terminating this LeasePremises. Upon any such termination of this LeaseDuring the period Lessee is in default, or upon any such termination of Lessee's right to possession without termination of this Lease, Lessee shall vacate the Demised Premises immediately, and shall quietly and peaceably deliver possession thereof to the Lessor, and Lessee hereby grants to the Lessor full and free license to can enter into and upon the Demised Premises in such event with or without process of law and to repossess the Demised Premises and Personal Property as relet them, or any part of them, to third parties for Lessee's account. Lessee shall be liable immediately to Lessor for all costs Lessor incurs in such reletting, including, without limitation, broker's commissions and like costs. Reletting can be for a period shorter or longer than the Lessor's former estate. In the event of any such termination remaining term of this Lease, . Lessee shall pay to Lessor the Lessor shall again have possession and enjoyment of the Demised Premises and Personal Property to the extent as if rent specified in this Lease had not been madeon the dates when the same becomes due, and thereupon less the rent Lessor receives from any reletting. No act by Lessor allowed by this paragraph shall terminate this Lease and everything herein contained on the part of unless Lessor notifies Lessee to be done and performed shall cease and terminate, all, however, without prejudice to and without relinquishing the rights of the that Lessor to Rent (which, upon such termination of this Lease and entry of Lessor upon the Demised Premises, shall, in any event, be the right to receive Rent due up to the time of such entry) or any other right given to the Lessor hereunder or by operation of law.
21.2 In the event of any Event of Default and Lessor's election either elects to terminate this Lease or to Lease. After Lessee's default and for as long as Lessor does not terminate Lessee's right to possession of the Demised Premises, then all licenses, certifications, permits and authorizations issued by any governmental agency, body or authority in connection with or relating to the Demised Premises and the nursing home operated thereon Lessee shall be deemed to be assigned to Lessor, to the extent permitted by law. Lessor shall also have the right to continue assign or sublet Lessee's interest in this Lease pursuant to utilize the telephone number and name (other than the name "Sunrise Healthcare" or similar name) used Article 14, but Lessor's consent may be conditioned upon all defaults by Lessee in connection with being fully cured at the operation time of the nursing home located on the Demised Premises. This Lease shall be deemed and construed as an assignment for purposes of vesting in Lessor, all right, title and interest in and to: (i) all licenses, certifications, permits and authorizations obtained in connection with the operation of the nursing home located on the Demised Premises; and (ii) the name and telephone number used in connection with the operation of the nursing home located on the Demised Premises (other than the name "Sunrise Healthcare" or similar name). Lessee hereby agrees to take such other action and execute such other documents as may be necessary in order to vest in Lessor all right, title and interest to the items specified herein, to the extent permitted by lawsubletting.
21.3 If Lessee abandons the Demised Premises or otherwise entitles (b) Lessor so to elect, and the Lessor elects to can terminate Lessee's right to possession only, without terminating of the Demised Premises at any time during Lessee's default. No act by Lessor other than giving written notice to Lessee shall terminate this Lease. Acts of maintenance, Lessor may, at its option, enter into efforts to relet the Demised Premises, remove Lesseeor the appointment of a receiver on Lessor's signs and other evidences of tenancy and take and hold possession thereof as in the foregoing paragraph 21.2 of this Article provided, without such entry and possession terminating initiative to protect Lessor's interest under this Lease or releasing Lessee, in whole or in part, from Lessee's obligation to pay the Rent hereunder for the full remaining Term of this Lease, and in any such case, Lessee shall pay to Lessor not constitute a sum equal to the entire amount of the Rent reserved hereunder and required to be paid by Lessee up to the time of such termination of the right of possession plus any other sums then due hereunder. Upon and after entry into possession without termination of this Lease, Lessor may attempt to relet the Demised Premises or any part thereof for the account of Lessee for such Rent, or shall operate the nursing home located on the Demised Premises for such time and upon such terms as Lessor in its sole discretion shall determine. In any such case, Lessor may make repairs, alterations and additions in or to the Demised Premises, and redecorate the same to the extent deemed desirable by Lessor, and Lessee shall, upon demand, pay the reasonable cost thereof, together with Lessor's reasonable expenses of reletting. If the consideration collected by Lessor upon any such reletting is not sufficient to pay monthly the full amount of Rent reserved in this Lease, together with the reasonable costs of repairs, alterations, additions, redecorating and Lessor's expenses, Lessee shall pay to the Lessor the amount of each monthly deficiency upon demand.
21.4 Lessee's liability to Lessor for damages for default in payment of Rent or otherwise hereunder shall in all events survive the termination by Lessor of the Lease or the termination by Lessor of Lessee's right to possession only, as hereinabove provided. Upon such termination of the Lease or at any time after such termination of Lessee's right to possession. On termination, Lessor may has the right to recover from Lessee and Lessee shall pay to Lessor as damagesLessee:
(1) The worth, whether or not Lessor shall at the time of the award, of the unpaid rent that has been earned at the time of termination of this Lease; plus
(2) The worth, at the time of the award, of the amount by which the unpaid rent that would have collected any current monthly deficiencies under the foregoing paragraph, and in lieu of such current deficiencies been earned after the date of demand for such damages, the amount thereof found to be due by a court of competent jurisdiction, which amount thus found may be equal to:
(a) the remainder, if any, of Rent and charges due from Lessee for the period up to and including the date of the termination of this Lease until the Lease or Lessee's right to possession;
(b) time of award exceeds the amount of any current monthly deficiencies accruing and the loss of rent that Lessee proves could have been reasonably avoided; plus
(3) The worth, at the time of the award, of the amount by which the unpaid by rent for the balance of the term after the time of award exceeds the amount of the loss of rent that Lessee up to and including the date of Lessor's demand for final damages hereunderproves could have been reasonably avoided; and
(c4) Any other amount, and court costs, necessary to compensate Lessor for all detriment proximately caused by Lessee's default. "The worth, at the excesstime of the award," as used in (1) and (2) above, if any, of:
(i) the present value, discounted is to be computed by allowing interest at the rate of ten percent (10% %) per annumannum from the date of default. "The worth, at the time of the Rent reserved for what would have been award" as used in (3) above is to be computed by discounting the remainder amount at the discount rate of the Term Federal Reserve Bank of San Francisco at the time of the award, plus one percent (1%). The term "rent," as used in this Lease together with charges Article shall be deemed to include all monetary sums required to be paid by Lessee under the Lease; over
(ii) the present value, discounted at the rate of 10% per annum of the then fair rental value of the Demised Premises and the Personal Property. If any statute or rule governing a proceeding in which such damages are to be proved shall validly limit the amount thereof to an amount less than the amount above agreed upon, Lessor shall be entitled pursuant to the maximum amount allowable under such statute or rule terms of lawthis Lease.
Appears in 2 contracts
Samples: Lease Agreement (Catapult Communications Corp), Lease Agreement (Catapult Communications Corp)
LESSOR'S REMEDIES UPON DEFAULT. 21.1 In Upon the event occurrence of any an Event of Default on the part of by Lessee, Lessor may, if it so elects, upon written notice to Lessee of such election, forthwith terminate this Lease and Lessee's right to possession of the Demised Premises, or, at the option of the Lessor, terminate Lessee's right to possession of the Demised Premises without terminating this Lease. Upon any such termination of this Lease, or upon any such termination of Lessee's right to possession without termination of this Lease, Lessee shall vacate the Demised Premises immediately, and shall quietly and peaceably deliver possession thereof to the Lessor, and Lessee hereby grants to the Lessor full and free license to enter into and upon the Demised Premises in such event with or without process of law and to repossess the Demised Premises and Personal Property as the Lessor's former estate. In the event of any such termination of this Lease, the Lessor shall again have possession and enjoyment of the Demised Premises and Personal Property to the extent as if this Lease had not been made, and thereupon this Lease and everything herein contained on the part of Lessee to be done and performed shall cease and terminate, all, however, without prejudice to and without relinquishing the rights of the Lessor to Rent (which, upon such termination of this Lease and entry of Lessor upon the Demised Premises, shall, in any event, be the right to receive Rent due up to the time of such entry) or any other right given to the Lessor hereunder or by operation of law.
21.2 In the event of any Event of Default and Lessor's election either to terminate this Lease or to terminate Lessee's right to possession of the Demised Premises, then all licenses, certifications, permits and authorizations issued by any governmental agency, body or authority in connection with or relating to the Demised Premises and the nursing home operated thereon shall be deemed to be assigned to Lessor, to the extent permitted by law. Lessor shall also have the right to continue to utilize the telephone number and name (other than the name "Sunrise Healthcare" or similar name) used by Lessee in connection with the operation of the nursing home located on the Demised Premises. This Lease shall be deemed and construed as an assignment for purposes of vesting in Lessor, all right, title and interest in and to: (i) all licenses, certifications, permits and authorizations obtained in connection with the operation of the nursing home located on the Demised Premises; and (ii) the name and telephone number used in connection with the operation of the nursing home located on the Demised Premises (other than the name "Sunrise Healthcare" or similar name). Lessee hereby agrees to take such other action and execute such other documents as may be necessary in order to vest in Lessor all right, title and interest to the items specified herein, to the extent permitted by law.
21.3 If Lessee abandons the Demised Premises or otherwise entitles Lessor so to elect, and the Lessor elects to terminate Lessee's right to possession only, without terminating this Lease, Lessor may, at its option, enter into the Demised Premises, remove Lessee's signs and other evidences of tenancy and take and hold possession thereof as in the foregoing paragraph 21.2 of this Article provided, without such entry and possession terminating this Lease or releasing Lessee, in whole or in part, from Lessee's obligation to pay the Rent hereunder for the full remaining Term of this Lease, and in any such case, Lessee shall pay to Lessor a sum equal to the entire amount of the Rent reserved hereunder and required to be paid by Lessee up to the time of such termination of the right of possession plus any other sums then due hereunder. Upon and after entry into possession without termination of this Lease, Lessor may attempt to relet the Demised Premises or any part thereof for the account of Lessee for such Rent, or shall operate the nursing home located on the Demised Premises for such time and upon such terms as Lessor in its sole discretion shall determine. In any such case, Lessor may make repairs, alterations and additions in or to the Demised Premises, and redecorate the same to the extent deemed desirable by Lessor, and Lessee shall, upon demand, pay the reasonable cost thereof, together with Lessor's reasonable expenses of reletting. If the consideration collected by Lessor upon any such reletting is not sufficient to pay monthly the full amount of Rent reserved in this Lease, together with the reasonable costs of repairs, alterations, additions, redecorating and Lessor's expenses, Lessee shall pay to the Lessor the amount of each monthly deficiency upon demand.
21.4 Lessee's liability to Lessor for damages for default in payment of Rent or otherwise hereunder shall in all events survive the termination by Lessor of the Lease or the termination by Lessor of Lessee's right to possession only, as hereinabove provided. Upon such termination of the Lease or at any time after such termination of Lessee's right to possession, Lessor may recover from Lessee and Lessee shall pay to Lessor as damages, whether or not Lessor shall have collected any current monthly deficiencies under the foregoing paragraph, and in lieu of such current deficiencies after the date of demand for such damages, the amount thereof found to be due by a court of competent jurisdiction, which amount thus found may be equal to:
(a) the remainder, if any, of Rent and charges due from Lessee for the period up to and including the date of the termination of the Lease or Lessee's right to possession;
(b) the amount of any current monthly deficiencies accruing and unpaid by Lessee up to and including the date of Lessor's demand for final damages hereunder; and
(c) the excess, if any, of:
(i) the present value, discounted at the rate of 10% per annum, of the Rent reserved for what would have been the remainder of the Term of this Lease together with charges to be paid by Lessee under the Lease; over
(ii) the present value, discounted at the rate of 10% per annum of the then fair rental value of the Demised Premises and the Personal Property. If any statute or rule governing a proceeding in which such damages are to be proved shall validly limit the amount thereof to an amount less than the amount above agreed upon, Lessor shall be entitled to the maximum amount allowable following remedies:
(a) terminate this Lease by giving written notice of termination to Lessee, in which event Lessee shall surrender the Site to Lessor. If Lessee fails to so surrender the Site, then Lessor may, without prejudice to any other remedy it has for possession of the Site or arrearages in rent or other damages, re-enter and take possession of the Site and expel or remove Lessee and any other person occupying the Site or any part thereof, in accordance with applicable law; or
(b) Lessor may re-enter and take possession of the Site without terminating the Lease in accordance with applicable law, and relet the Site and apply the Rent received to the account of Lessee. In the event Lessor so re-enters and takes possession of the Site as set forth above, Lessor agrees to use reasonable efforts to relet the Site for a commercially reasonable rate at the time of such reletting. No reletting by Lessor is considered to be for Lessor's own account unless Lessor has notified Lessee in writing that this Lease has been terminated. In addition, no such reletting is to be considered an acceptance of Lessee's surrender of the Site unless Lessor so notifies Lessee in writing. The parties hereto agree that a Lessee default under such statute this Lease shall constitute a System Owner default under the Solar Project Agreement. Notwithstanding anything to the contrary set forth herein, in no event shall Lessor have the right to accelerate the Rent and other amounts payable hereunder, or rule of lawxxx Lessee for any consequential, punitive or incidental damages (including, without limitation, any claims for lost profits and/or lost business opportunity).
Appears in 2 contracts
Samples: Master Solar Power Purchase Agreement, Master Solar Power Purchase Agreement
LESSOR'S REMEDIES UPON DEFAULT. 21.1 (a) Lessee covenants and agrees that if:
(i) Lessee shall fail, neglect or refuse to pay in full any installment of Rent or other moneys agreed by it to be paid under the term of this Lease, and if any such default shall continue for a period of fifteen (15) days from the date such installment or payment was due; or
(ii) Any voluntary or involuntary petition or similar pleading under the United States Bankruptcy Code as now hereafter amended shall be filed by or against Lessee, or any voluntary or involuntary proceeding in any court shall be instituted to declare Lessee insolvent or unable to pay Lessee's debts, and any involuntary filing shall not be Lessee's debts, and any involuntary filing shall not be dismissed or discharged within sixty (60) days thereafter; or
(iii) Lessee makes an assignment of its property for the benefit of creditors or if the Premises be taken under a levy of execution or attachment in any action against Lessee and such levy, attachment or assignment Is not dismissed or discharged within thirty (30) days; or
(iv) Lessee shall fail to perform any covenant or provisions of this Lease for a period of fifteen (15) days after the giving of notice thereof in writing by Lessor (but Lessee shall not be deemed in default of any provisions for the making of repairs within said fifteen (15) day period and proceeds therewith with due diligence). Provided however, that Lessee shall not be in default if it continues to pay rent, notwithstanding the fact that Lessee has abandoned the Premises, as long as Lessee gives Lessor thirty (30) days written notice to all other remedies given to Lessor in law or in equity, may be written notice terminate this Lease, or without terminating this Lease or without notice, re-enter the Premises immediately, and by force if necessary, and to remove all persons and their property therefrom, using such force in effecting such removal as may be necessary and advisable to recover possession of the Premises whether possession be in Lessee or a third (3rd) person, without being deemed guilty of any manner or trespass.
(b) In the event of any Event of Default on the part of Lessee, re-entry by Lessor may, if it so elects, upon written notice to Lessee of such election, forthwith terminate this Lease and Lessee's right to possession of the Demised Premises, or, at the option of the Lessor, terminate Lessee's right to possession of the Demised Premises without terminating this Lease. Upon any such and/or termination of this Lease, or upon any such termination of Lessee's right to possession without termination of this Lease, Lessee shall vacate the Demised Premises immediately, and shall quietly and peaceably deliver possession thereof to the Lessor, and Lessee hereby grants to the Lessor full and free license to enter into and upon the Demised Premises in such event with or without process of law and to repossess the Demised Premises and Personal Property as the Lessor's former estate. In the event of any such termination of this Lease, the Lessor shall again have possession and enjoyment of the Demised Premises and Personal Property to the extent as if this Lease had not been made, and thereupon this Lease and everything herein contained on the part of Lessee to be done and performed shall cease and terminate, all, however, without prejudice to and without relinquishing the rights of the Lessor to Rent (which, upon such termination of this Lease and entry of Lessor upon the Demised Premises, shall, in any event, be the right to receive Rent due up to the time of such entry) or any other right given to the Lessor hereunder or by operation of law.
21.2 In the event of any Event of Default and Lessor's election either to terminate this Lease or to terminate Lessee's right to possession of the Demised Premises, then all licenses, certifications, permits and authorizations issued by any governmental agency, body or authority in connection with or relating to the Demised Premises and the nursing home operated thereon shall be deemed to be assigned to Lessor, to the extent permitted by law. Lessor shall also have the right to continue to utilize the telephone number and name (other than the name "Sunrise Healthcare" or similar name) used by Lessee in connection with the operation of the nursing home located on the Demised Premises. This Lease shall be deemed and construed as an assignment for purposes of vesting in Lessor, all right, title and interest in and to: (i) all licenses, certifications, permits and authorizations obtained in connection with the operation of the nursing home located on the Demised Premises; and (ii) the name and telephone number used in connection with the operation of the nursing home located on the Demised Premises (other than the name "Sunrise Healthcare" or similar name). Lessee hereby agrees to take such other action and execute such other documents as may be necessary in order to vest in Lessor all right, title and interest to the items specified herein, to the extent permitted by law.
21.3 If Lessee abandons the Demised Premises or otherwise entitles Lessor so to elect, and the Lessor elects to terminate Lessee's right to possession only, without terminating this Lease, Lessor may, at its optionwithout being obligated to do so, enter into relet the Demised Premises, remove Lessee's signs and other evidences of tenancy and take and hold possession thereof as in the foregoing paragraph 21.2 of this Article provided, without such entry and possession terminating this Lease or releasing Lessee, in whole or in partany portion thereof with additional space, from Lessee's obligation to pay for any period equal to, greater or less than the Rent hereunder for remainder of the full remaining Term term of this Lease, for any sum (including any rental concessions and in any such case, Lessee shall pay to Lessor a sum equal to the entire amount of the Rent reserved hereunder rent-free occupancy) which it may deem suitable and required to be paid by Lessee up to the time of such termination of the right of possession plus any other sums then due hereunder. Upon and after entry into possession without termination of this Lease, Lessor may attempt to relet the Demised Premises or any part thereof for the account of Lessee for such Rent, or shall operate the nursing home located on the Demised Premises for such time and upon such terms as Lessor in its sole discretion shall determine. In any such case, Lessor may make repairs, alterations and additions in or to the Demised Premisessatisfactory, and redecorate the same to the extent deemed desirable by Lessor, for any use and Lessee shall, upon demand, pay the reasonable cost thereof, together with Lessor's reasonable expenses of reletting. If the consideration collected by Lessor upon any such reletting is not sufficient to pay monthly the full amount of Rent reserved in this Lease, together with the reasonable costs of repairs, alterations, additions, redecorating and Lessor's expenses, Lessee shall pay to the Lessor the amount of each monthly deficiency upon demandpurpose which it may deem appropriate.
21.4 Lessee's liability to Lessor for damages for default in payment of Rent or otherwise hereunder shall in all events survive the termination by Lessor of the Lease or the termination by Lessor of Lessee's right to possession only, as hereinabove provided. Upon such termination of the Lease or at any time after such termination of Lessee's right to possession, Lessor may recover from Lessee and Lessee shall pay to Lessor as damages, whether or not Lessor shall have collected any current monthly deficiencies under the foregoing paragraph, and in lieu of such current deficiencies after the date of demand for such damages, the amount thereof found to be due by a court of competent jurisdiction, which amount thus found may be equal to:
(a) the remainder, if any, of Rent and charges due from Lessee for the period up to and including the date of the termination of the Lease or Lessee's right to possession;
(b) the amount of any current monthly deficiencies accruing and unpaid by Lessee up to and including the date of Lessor's demand for final damages hereunder; and
(c) the excess, if any, of:
(i) the present value, discounted at the rate As part of 10% per annum, of the Rent reserved Lessor's damage for what would have been the remainder of the Term of this Lease together with charges to be paid by Lessee under the Lease; over
(ii) the present value, discounted at the rate of 10% per annum of the then fair rental value of the Demised Premises and the Personal Property. If any statute or rule governing a proceeding in which such damages are to be proved shall validly limit the amount thereof to an amount less than the amount above agreed uponLessee's default, Lessor shall be entitled to receive all of Lessor's expenses, including without limitation, commissions and the maximum amount allowable cost of repairs, as well as Rent or damages equal to the Rent and all other sums due from Lessee at such time and for the remainder of the term of this lease. Any amounts Lessor receives from any new occupant shall be applied to the foregoing damage, Lessee remaining liable for any deficiency.
(d) No termination of this Lease nor any taking or recovering of possession of the Premises shall deprive Lessor of any of its remedies or actions against Lessee or shall relieve Lessee from its liability for Rent and damages hereunder. The failure of Lessor to relet, or if relet, to collect the Rent under such statute reletting shall not release or rule of lawaffect Lessee's liability for damages hereunder. All remedies available to Lessor are declared to be cumulative and concurrent.
Appears in 1 contract
LESSOR'S REMEDIES UPON DEFAULT. 21.1 In Upon the event occurrence of any Event of Default on the part of by Lessee, Lessor mayshall have the rights and remedies hereinafter set forth, if it so electswhich shall be distinct, upon written notice separate and cumulative and shall not operate to Lessee exclude or deprive Lessor of such election, forthwith any other right or remedy allowed them by law.
a. Lessor may terminate this Lease and Lessee's right by giving written notice of Lessor’s intention so to possession of do, in which event the Demised Premises, or, at the option of the Lessor, terminate Lessee's right to possession of the Demised Premises without terminating this Lease. Upon any such termination of this Lease, or upon any such termination of Lessee's right to possession without termination of this Lease, Lessee term shall vacate the Demised Premises immediatelyend, and shall quietly and peaceably deliver possession thereof to the Lessor, and Lessee hereby grants to the Lessor full and free license to enter into and upon the Demised Premises in such event with or without process of law and to repossess the Demised Premises and Personal Property as the Lessor's former estate. In the event of any such termination of this Lease, the Lessor shall again have possession and enjoyment of the Demised Premises and Personal Property to the extent as if this Lease had not been made, and thereupon this Lease and everything herein contained on the part of Lessee to be done and performed shall cease and terminate, all, however, without prejudice to and without relinquishing the rights of the Lessor to Rent (which, upon such termination of this Lease and entry of Lessor upon the Demised Premises, shall, in any event, be the right to receive Rent due up to the time of such entry) or any other right given to the Lessor hereunder or by operation of law.
21.2 In the event of any Event of Default and Lessor's election either to terminate this Lease or to terminate Lessee's right to possession of the Demised Premises, then all licenses, certifications, permits and authorizations issued by any governmental agency, body or authority in connection with or relating to the Demised Premises and the nursing home operated thereon shall be deemed to be assigned to Lessor, to the extent permitted by law. Lessor shall also have the right to continue to utilize the telephone number and name (other than the name "Sunrise Healthcare" or similar name) used by Lessee in connection with the operation of the nursing home located on the Demised Premises. This Lease shall be deemed and construed as an assignment for purposes of vesting in Lessor, all right, title and interest in and to: (i) all licenses, certifications, permits and authorizations obtained in connection with the operation of the nursing home located Lessee hereunder shall expire on the Demised Premisesdate stated in such notice;
x. Xxxxxx may terminate the right of Lessee to possession of the Leased Premises without terminating this Lease by giving written notice to Lessee that Lessee’s right of possession shall end on the date stated in such notice, whereupon the right of Lessee to possession of the Leased Premises or any part thereof shall cease on the date stated in such notice; and
x. Xxxxxx may enforce the provisions of this Lease and may enforce and protect the rights of Lessor hereunder by a suit of suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including recovery of all monies due or to become due from Lessee under any of the provisions of this Lease. If the Lessor exercises either of the remedies provided in subparagraphs (a) and (iib) of this paragraph, Lessee shall surrender possession and vacate the name Leased Premises immediately and telephone number used in connection with the operation of the nursing home located on the Demised Premises (other than the name "Sunrise Healthcare" deliver possession thereof to Lessor, and Lessor may then or similar name). Lessee at any time thereafter re-enter and take complete license so to do being hereby agrees granted to take Lessor, and Lessor may remove all occupants and property therefrom, using such other action and execute such other documents force as may be necessary necessary, without being deemed in order to vest in any manner guilty of trespass, eviction or forcible entry and detainer and without relinquishing Lessor all right, title and interest to the items specified herein, to the extent permitted hereunder of by operation of law.
21.3 . If Lessee abandons the Demised Premises or otherwise entitles Lessor so to elect, and the Lessor elects to terminate Lessee's terminates the right of Lessee to possession only, of the Leased Premises without terminating this Lease, Lessor may, at its option, enter into the Demised Premises, remove Lessee's signs and other evidences such termination of tenancy and take and hold possession thereof as in the foregoing paragraph 21.2 of this Article provided, without such entry and possession terminating this Lease or releasing shall not release Lessee, in whole or in part, from Lessee's ’s obligation to pay the Rent rental hereunder for the full remaining Term lease term, and the aggregate amount of the base rent for the period from the date stated in the notice termination possession to the end of the term of this Lease shall at once mature and be immediately due and payable by Lessee to Lessor, together with any and all other monies due hereunder, and Lessor shall have the right to immediate recovery of all such amounts. In addition, Lessor shall have the right, from time to time, to recover from Lessee, and Lessee shall remain liable for, all additional rent and any other sums thereafter accruing as they become due under this Lease during the period from the date of such notice of termination of possession to the stated end of the term of this Lease, and in any such case, Lessee shall pay to Lessor a sum equal to the entire amount of the Rent reserved hereunder and required to be paid by Lessee up to the time of such termination of the right of possession plus any other sums then due hereunder. Upon and after entry into possession without termination of this Lease, Lessor may attempt to relet the Demised Premises or any part thereof for the account of Lessee for such Rent, or shall operate the nursing home located on the Demised Premises for such time and upon such terms as Lessor in its sole discretion shall determine. In any such case, Lessor may make repairs, alterations and additions in or to the Demised Premises, Leased Premises and redecorate the same to the extent deemed by Lessor necessary or desirable by Lessorand in connection therewith change the locks, and Lessee shall, shall upon demand, demand pay the reasonable cost thereof, thereof together with Lessor's reasonable ’s expenses of reletting. If Lessor may collect the consideration collected by Lessor upon rents from any such reletting and apply the same first to the payment of the expenses of re-entry, redecoration, repairs and alterations and the expenses of reletting and second to the payment of rental herein provided to be paid by Lessee, and any excess of residue shall operate only as an offsetting credit to be paid by Lessee, if any,, shall not be deemed to give Lessee any right, title or interest in or to such excess or residue and any such excess or residue shall belong to Lessor solely; provided, that in no event shall Lessee be entitled to a credit on its indebtedness to Lessor in excess of the aggregate such which would have been paid by Lessee for the period for which the credit to Lessee is not sufficient to pay monthly the full amount of Rent reserved in this Leasebeing determined, together with the reasonable costs of had no Default occurred. No such re-entry or repossession, repairs, alterations, alterations and additions, redecorating or reletting shall be construed as eviction or ouster of Lessee or shall operate to release Lessee in whole or in part from any of Lessee’s obligations hereunder; and Lessor's expensesLessor may, Lessee shall pay at any time, xxx and recover judgment for any deficiencies from time to time remaining after the Lessor application, from time to time, of the amount proceeds of each monthly deficiency upon demand.
21.4 Lessee's liability to Lessor for damages for default in payment of Rent or otherwise hereunder shall in all events survive the termination any such reletting. If this Lease is terminated by Lessor as provided for by subparagraph (a) of the Lease or the termination by Lessor of Lessee's right to possession only, as hereinabove provided. Upon such termination of the Lease or at any time after such termination of Lessee's right to possessionthis paragraph, Lessor may shall be entitled to recover from Lessee all the fixed basic rent accrued and Lessee shall pay to Lessor as damages, whether or not Lessor shall have collected any current monthly deficiencies under the foregoing paragraph, and in lieu of such current deficiencies after the date of demand for such damages, the amount thereof found to be due by a court of competent jurisdiction, which amount thus found may be equal to:
(a) the remainder, if any, of Rent and charges due from Lessee unpaid for the period up to and including the date such termination date, as well as all other additional sums payable by Lessee, or for which Lessee is liable or in respect of all of which Lessee has agreed to indemnify Lessor under any of the termination provisions of this Lease, which may be then owing and unpaid, and all costs and expenses, including court costs and attorney fees incurred by Lessor in the Lease or Lessee's right to possession;
enforcement of (bits) the amount of any current monthly deficiencies accruing rights and unpaid by Lessee up to and including the date of Lessor's demand for final damages remedies hereunder; and
(c) the excess, if any, of:
(i) the present value, discounted at the rate of 10% per annum, of the Rent reserved for what would have been the remainder of the Term of this Lease together with charges to be paid by Lessee under the Lease; over
(ii) the present value, discounted at the rate of 10% per annum of the then fair rental value of the Demised Premises and the Personal Property. If any statute or rule governing a proceeding in which such damages are to be proved shall validly limit the amount thereof to an amount less than the amount above agreed uponaddition, Lessor shall be entitled to recover as damages an amount equal to the maximum remaining rents for the remainder of the term of this Lease, as well as all other additional sums payable by Lessee, or for which Lessee is liable or in respect of which Lessee had agreed to indemnify Lessor under any of the provisions of this Lease had this Lease not been terminated. In addition, Lessor makes repairs, alterations and additions in or to the Leased Premises and redecorates the same to the extent deemed by the Lessor necessary or desirable and in connection therewith change locks to the Leased Premises, and Lessee shall be liable for the costs thereof. Lessor may collect the rents from any reletting, if any, and apply the same first to the expenses of re-entry, redecoration, repairs and alterations and the expenses of reletting, and second to the payment of rental herein provided to be paid Lessee, and any excess or residue shall operate only as offsetting credit against the amount allowable under of rental as the same thereafter becomes due and payable hereunder, but Lessee shall have no right, title or interest in such statute excess or rule residue and it shall belong to Lessor solely; provided, that in no event shall Lessee be entitled to a credit on indebtedness to Lessor in excess of lawthe aggregate sum which would have been paid by Lessee for the period for which the credit to Lessee is being determined, had no Default occurred.
Appears in 1 contract
Samples: Lease Agreement (Endocyte Inc)
LESSOR'S REMEDIES UPON DEFAULT. 21.1 In the event of any Event of Default on the part of Lessee, Lessor may, if it so elects, upon ten (10) days prior written notice to Lessee of such election, and with or without any demand whatsoever upon Lessee, forthwith terminate this Lease and Lessee's right to possession of the Demised Premises, or, at the option of the Lessor, terminate Lessee's right to possession of the Demised Premises without terminating this Lease. Upon any such termination of this Lease, or upon any such termination of Lessee's right to possession without termination of this Lease, Lessee shall vacate the Demised Premises immediately, and shall quietly and peaceably deliver possession thereof to the Lessor, and Lessee hereby grants to the Lessor full and free license to enter into and upon the Demised Premises in such event with or without process of law and to repossess the Demised Premises and Personal Property as the Lessor's former estate. In the event of any such termination of this Lease, the Lessor shall again have possession and enjoyment of the Demised Premises and Personal Property to the extent as if this Lease had not been made, and thereupon this Lease and everything herein contained on the part of Lessee to be done and performed shall cease and terminate, all, however, without prejudice to and without relinquishing the rights of the Lessor to Rent (which, upon such termination of this Lease and entry of Lessor upon the Demised Premises, shall, in any event, be the right to receive Rent due up to the time of such entry) or any other right given to the Lessor hereunder or by operation of law.
21.2 In the event of any Event of Default and Lessor's election either to terminate this Lease or to terminate Lessee's right to possession of the Demised Premises, then all licenses, certifications, permits and authorizations issued by any governmental agency, body or authority in connection with or relating to the Demised Premises and the nursing home operated thereon shall be deemed to be assigned to Lessor, to the extent permitted by law. Lessor shall also have the right to continue to utilize the telephone number and name (other than the name "Sunrise Healthcare" or similar name") used by Lessee in connection with the operation of the nursing home located on the Demised Premises. This Lease shall be deemed and construed as an assignment for purposes of vesting in Lessor, all right, title and interest in and to: (i) all licenses, certifications, permits and authorizations obtained in connection with the operation of the nursing home located on the Demised Premises; and (ii) the name and telephone number used in connection with the operation of the nursing home located on the Demised Premises (other than the name "Sunrise Healthcare" or similar name)Premises. Lessee hereby agrees to take such other action and execute such other documents as may be necessary in order to vest in Lessor all right, title and interest to the items specified herein, to the extent permitted by law.
21.3 If Lessee abandons the Demised Premises or otherwise entitles Lessor so to elect, and the Lessor elects to terminate Lessee's right to possession only, without terminating this Lease, Lessor may, at its option, enter into the Demised Premises, remove Lessee's signs and other evidences of tenancy and take and hold possession thereof as in the foregoing paragraph 21.2 of this Article provided, without such entry and possession terminating this Lease or releasing Lessee, in whole or in part, from Lessee's obligation to pay the Rent hereunder for the full remaining Term of this Lease, and in any such case, Lessee shall pay to Lessor a sum equal to the entire amount of the Rent reserved hereunder and required to be paid by Lessee up to the time of such termination of the right of possession plus any other sums then due hereunder. Upon and after entry into possession without termination of this Lease, Lessor may attempt to relet the Demised Premises or any part thereof for the account of Lessee for such Rentrent, or shall operate the nursing home located on the Demised Premises for such time and upon such terms as Lessor in its sole discretion shall determine. In any such case, Lessor may make repairs, alterations and additions in or to the Demised Premises, and redecorate the same to the extent deemed desirable by Lessor, and Lessee shall, upon demand, pay the reasonable cost thereof, together with Lessor's reasonable expenses of reletting. If the consideration collected by Lessor upon any such reletting is not sufficient to pay monthly the full amount of Rent rent reserved in this Lease, together with the reasonable costs of repairs, alterations, additions, redecorating and Lessor's expenses, Lessee shall pay to the Lessor the amount of each monthly deficiency upon demand.
21.4 Lessee's liability to Lessor for damages for default in payment of Rent rent or otherwise hereunder shall in all events survive the termination by Lessor of the Lease or the termination by Lessor of Lessee's right to possession only, as hereinabove provided. Upon such termination of the Lease or at any time after such termination of Lessee's right to possession, Lessor may recover from Lessee and Lessee shall pay to Lessor as damages, whether or not Lessor shall have collected any current monthly deficiencies under the foregoing paragraph, and in lieu of such current deficiencies after the date of demand for such damages, the amount thereof found to be due by a court of competent jurisdiction, which amount thus found may be equal to:
(a) the remainder, if any, of Rent rent and charges due from Lessee for the period up to and including the date of the termination of the Lease or Lessee's right to possession;
(b) the amount of any current monthly deficiencies accruing and unpaid by Lessee up to and including the date of Lessor's demand for final damages hereunder; and
(c) the excess, if any, of:
(i) the present value, discounted at the rate of 10% per annum, of the Rent rent reserved for what would have been the remainder of the Term of this Lease together with charges to be paid by Lessee under the Lease; over
(ii) the present value, discounted at the rate of 10% per annum of the then fair rental value of the Demised Premises and the Personal Property. If any statute or rule governing a proceeding in which such damages are to be proved shall validly limit the amount thereof to an amount less than the amount above agreed upon, Lessor shall be entitled to the maximum amount allowable under such statute or rule of law.
Appears in 1 contract
LESSOR'S REMEDIES UPON DEFAULT. 21.1 In the event of any Event of Default on the part of Lessee, Lessor may, if it so elects, upon twenty (20) days prior written notice to Lessee of such election, and with or without any demand whatsoever upon Lessee, forthwith terminate this Lease and Lessee's right to possession of the Demised PremisesLeased Property, or, at the option of the Lessor, terminate Lessee's right to possession of the Demised Premises Leased Property without terminating this Lease. Upon any such termination of this Lease, or upon any such termination of Lessee's right to possession without termination of this Lease, Lessee shall vacate the Demised Premises immediately, and shall quietly and peaceably deliver possession thereof to the Lessor, and Lessee hereby grants to the Lessor full and free license to enter into and upon the Demised Premises in such event with or without process of law and to repossess the Demised Premises and Personal Property as the Lessor's former estate. In the event of any such termination of this Lease, the Lessor shall again have possession and enjoyment of the Demised Premises and Personal Property to the extent as if this Lease had not been made, and thereupon this Lease and everything herein contained on the part of Lessee to be done and performed shall cease and terminate, all, however, without prejudice to and without relinquishing the rights of the Lessor to Rent rent (which, upon such termination of this Lease and entry of Lessor upon the Demised Premises, shall, in any event, be the right to receive Rent rent due up to the time of such entry) or any other right given to the Lessor hereunder or by operation of law.
21.2 In the event of any Event of Default and Lessor's election either to terminate this Lease or to terminate Lessee's right to possession of the Demised Premises, then all licenses, certifications, permits and authorizations issued by any governmental agency, body or authority in connection with or relating to the Demised Premises and the nursing home operated thereon shall be deemed to be assigned to Lessor, to the extent permitted by law. Lessor shall also have the right to continue to utilize the telephone number and name (other than the name "Sunrise Healthcare" or similar name) used by Lessee in connection with the operation of the nursing home located on the Demised Premises. This Lease shall be deemed and construed as an assignment for purposes of vesting in Lessor, all right, title and interest in and to: (i) all licenses, certifications, permits and authorizations obtained in connection with the operation of the nursing home located on the Demised Premises; and (ii) the name and telephone number used in connection with the operation of the nursing home located on the Demised Premises (other than the name "Sunrise Healthcare" or similar name). Lessee hereby agrees to take such other action and execute such other documents as may be necessary in order to vest in Lessor all right, title and interest to the items specified herein, to the extent permitted by law.
21.3 If Lessee abandons the Demised Premises or otherwise entitles Lessor so to elect, and the Lessor elects to terminate Lessee's right to possession only, without terminating this Lease, Lessor may, at its option, enter into the Demised Premises, remove Lessee's signs and other evidences of tenancy and take and hold possession thereof as in the foregoing paragraph 21.2 21.1 of this Article provided, without such entry and possession terminating this Lease or releasing Lessee, in whole or in part, from Lessee's obligation to pay the Rent rent hereunder for the full remaining Term term of this Lease, less any rents and other charges that Lessor will receive by reason of reletting the Demised Premises, and in any such case, Lessee shall pay to Lessor a sum equal to the entire amount of the Rent any rent reserved hereunder and required to be paid by Lessee up to the time of such termination of the right of possession plus any other sums then due hereunder. Upon and after entry into possession without termination of this Lease, Lessor may attempt to relet the Demised Premises or any part thereof for the account of Lessee for such Rentrent, or shall operate the nursing home located on the Demised Premises for such time and upon such terms as Lessor in its sole discretion shall determine. In any such case, Lessor may make repairs, alterations and additions in or to the Demised Premises, and redecorate the same to the extent deemed desirable by Lessor, and Lessee shall, upon demand, pay the reasonable cost thereof, together with of Lessor's reasonable expenses of reletting. If the consideration collected by Lessor upon any such reletting is not sufficient to pay monthly the full amount of Rent rent reserved in this Lease, together with the any reasonable costs of repairs, alterations, additions, additions or redecorating and Lessornecessitated by Lessee's expensesdefault hereunder, Lessee shall pay to the Lessor the amount of each monthly deficiency upon demand.
21.4 Lessee's liability to Lessor for damages for default in payment of Rent or otherwise hereunder shall in all events survive the termination by Lessor of the Lease or the termination by Lessor of Lessee's right to possession only, as hereinabove provided. Upon such termination of the Lease or at any time after such termination of Lessee's right to possession, Lessor may recover from Lessee and Lessee shall pay to Lessor as damages, whether or not Lessor shall have collected any current monthly deficiencies under the foregoing paragraph, and in lieu of such current deficiencies after the date of demand for such damages, the amount thereof found to be due by a court of competent jurisdiction, which amount thus found may be equal to:
(a) the remainder, if any, of Rent and charges due from Lessee for the period up to and including the date of the termination of the Lease or Lessee's right to possession;
(b) the amount of any current monthly deficiencies accruing and unpaid by Lessee up to and including the date of Lessor's demand for final damages hereunder; and
(c) the excess, if any, of:
(i) the present value, discounted at the rate of 10% per annum, of the Rent reserved for what would have been the remainder of the Term of this Lease together with charges to be paid by Lessee under the Lease; over
(ii) the present value, discounted at the rate of 10% per annum of the then fair rental value of the Demised Premises and the Personal Property. If any statute or rule governing a proceeding in which such damages are to be proved shall validly limit the amount thereof to an amount less than the amount above agreed upon, Lessor shall be entitled to the maximum amount allowable under such statute or rule of law.
Appears in 1 contract
Samples: Lease Agreement (LTC Healthcare Inc)
LESSOR'S REMEDIES UPON DEFAULT. 21.1 In the event of any Event of Default on the part of Lessee, Lessor may, if it so elects, upon written notice to Lessee of such election, forthwith terminate this Lease and Lessee's right to possession of the Demised Premises, or, at the option of the Lessor, terminate Lessee's right to possession of the Demised Premises without terminating this Lease. Upon any such termination of this Lease, or upon any such termination of Lessee's right to possession without termination of this Lease, Lessee shall vacate the Demised Premises immediately, and shall quietly and peaceably deliver possession thereof to the Lessor, and Lessee hereby grants to the Lessor full and free license to enter into and upon the Demised Premises in such event with or without process of law and to repossess the Demised Premises and Personal Property as the Lessor's former estate. In the event of any such termination of this Lease, the Lessor shall again have possession and enjoyment of the Demised Premises and Personal Property to the extent as if this Lease had not been made, and thereupon this Lease and everything herein contained on the part of Lessee to be done and performed shall cease and terminate, all, however, without prejudice to and without relinquishing the rights of the Lessor to Rent (which, upon such termination of this Lease and entry of Lessor upon the Demised Premises, shall, in any event, be the right to receive Rent due up to the time of such entry) or any other right given to the Lessor hereunder or by operation of law.
21.2 In the event of any Event of Default and Lessor's election either to terminate this Lease or to terminate Lessee's right to possession of the Demised Premises, then all licenses, certifications, permits and authorizations issued by any governmental agency, body or authority in connection with or relating to the Demised Premises and the nursing home operated thereon shall be deemed to be assigned to Lessor, to the extent permitted by law. Lessor shall also have the right to continue to utilize the telephone number and name (other than the name "Sunrise Healthcare" or similar name) used by Lessee in connection with the operation of the nursing home located on the Demised Premises. This Lease shall be deemed and construed as an assignment for purposes of vesting in Lessor, all right, title and interest in and to: (i) all licenses, certifications, permits and authorizations obtained in connection with the operation of the nursing home located on the Demised Premises; and (ii) the name and telephone number used in connection with the operation of the nursing home located on the Demised Premises (other than the name "Sunrise Healthcare" or similar name). Lessee hereby agrees to take such other action and execute such other documents as may be necessary in order to vest in Lessor all right, title and interest to the items specified herein, to the extent permitted by law.
21.3 If Lessee abandons the Demised Premises or otherwise entitles Lessor so to elect, and the Lessor elects to terminate Lessee's right to possession only, without terminating this Lease, Lessor may, at its option, enter into the Demised Premises, remove Lessee's signs and other evidences of tenancy and take and hold possession thereof as in the foregoing paragraph 21.2 of this Article provided, without such entry and possession terminating this Lease or releasing Lessee, in whole or in part, from Lessee's obligation to pay the Rent hereunder for the full remaining Term of this Lease, and in any such case, Lessee shall pay to Lessor a sum equal to the entire amount of the Rent reserved hereunder and required to be paid by Lessee up to the time of such termination of the right of possession plus any other sums then due hereunder. Upon and after entry into possession without termination of this Lease, Lessor may attempt to relet the Demised Premises or any part thereof for the account of Lessee for such Rent, or shall operate the nursing home located on the Demised Premises for such time and upon such terms as Lessor in its sole discretion shall determine. In any such case, Lessor may make repairs, alterations and additions in or to the Demised Premises, and redecorate the same to the extent deemed desirable by Lessor, and Lessee shall, upon demand, pay the reasonable cost thereof, together with Lessor's reasonable expenses of reletting. If the consideration collected by Lessor upon any such reletting is not sufficient to pay monthly the full amount of Rent reserved in this Lease, together with the reasonable costs of repairs, alterations, additions, redecorating and Lessor's expenses, Lessee shall pay to the Lessor the amount of each monthly deficiency upon demand.
21.4 Lessee's liability to Lessor for damages for default in payment of Rent or otherwise hereunder shall in all events survive the termination by Lessor of the Lease or the termination by Lessor of Lessee's right to possession only, as hereinabove provided. Upon such termination of the Lease or at any time after such termination of Lessee's right to possession, Lessor may recover from Lessee and Lessee shall pay to Lessor as damages, whether or not Lessor shall have collected any current monthly deficiencies under the foregoing paragraph, and in lieu of such current deficiencies after the date of demand for such damages, the amount thereof found to be due by a court of competent jurisdiction, which amount thus found may be equal to:
(a) the remainder, if any, of Rent and charges due from Lessee for the period up to and including the date of the termination of the Lease or Lessee's right to possession;
(b) the amount of any current monthly deficiencies accruing and unpaid by Lessee up to and including the date of Lessor's demand for final damages hereunder; and
(c) the excess, if any, of:
(i) the present value, discounted at the rate of 10% per annum, of the Rent reserved for what would have been the remainder of the Term of this Lease together with charges to be paid by Lessee under the Lease; over
(ii) the present value, discounted at the rate of 10% per annum of the then fair rental value of the Demised Premises and the Personal Property. If any statute or rule governing a proceeding in which such damages are to be proved shall validly limit the amount thereof to an amount less than the amount above agreed upon, Lessor shall be entitled to the maximum amount allowable under such statute or rule of law.hereinabove
Appears in 1 contract
LESSOR'S REMEDIES UPON DEFAULT. 21.1 In the event of any Event of Default on the part of Lessee, Lessor may, if it so elects, upon written notice to Lessee of such election, forthwith terminate this Lease and Lessee's right to possession of the Demised Premises, or, at the option of the Lessor, terminate Lessee's right to possession of the Demised Premises without terminating this Lease. Upon any such termination of this Lease, or upon any such termination of Lessee's right to possession without termination of this Lease, Lessee shall vacate the Demised Premises immediately, and shall quietly and peaceably deliver possession thereof to the Lessor, and Lessee hereby grants to the Lessor full and free license to enter into and upon the Demised Premises in such event with or without process of law and to repossess the Demised Premises and Personal Property as the Lessor's former estate. In the event of any such termination of this Lease, the Lessor shall again have possession and enjoyment of the Demised Premises and Personal Property to the extent as if this Lease had not been made, and thereupon this Lease and everything herein contained on the part of Lessee to be done and performed shall cease and terminate, all, however, without prejudice to and without relinquishing the rights of the Lessor to Rent (which, upon such termination of this Lease and entry of Lessor upon the Demised Premises, shall, in any event, be the right to receive Rent due up to the time of such entry) or any other right given to the Lessor hereunder or by operation of law.
21.2 In the event of any Event of Default and Lessor's election either to terminate this Lease or to terminate Lessee's right to possession of the Demised Premises, then all licenses, certifications, permits and authorizations issued by any governmental agency, body or authority in connection with or relating to the Demised Premises and the nursing home operated thereon shall be deemed to be assigned to Lessor, to the extent permitted by law. Lessor shall also have the right to continue to utilize the telephone number and name (other than the name "Sunrise Healthcare" or similar name) used by Lessee in connection with the operation of the nursing home located on the Demised Premises. This Lease shall be deemed and construed as an assignment for purposes of vesting in Lessor, all right, title and interest in and to: (i) all licenses, certifications, permits and authorizations obtained in connection with the operation of the nursing home located on the Demised Premises; and (ii) the name and telephone number used in connection with the operation of the nursing home located on the Demised Premises (other than the name "Sunrise Healthcare" or similar name). Lessee hereby agrees to take such other action and execute such other documents as may be necessary in order to vest in Lessor all right, title and interest to the items specified herein, to the extent permitted by law.
21.3 If Lessee abandons the Demised Premises or otherwise entitles Lessor so to elect, and the Lessor elects to terminate Lessee's right to possession only, without terminating this Lease, Lessor may, at its option, enter into the Demised Premises, remove Lessee's signs and other evidences of tenancy and take and hold possession thereof as in the foregoing paragraph 21.2 of this Article provided, without such entry and possession terminating this Lease or releasing Lessee, in whole or in part, from Lessee's obligation to pay the Rent hereunder for the full remaining Term of this Lease, and in any such case, Lessee shall pay to Lessor a sum equal to the entire amount of the Rent reserved hereunder and required to be paid by Lessee up to the time of such termination of the right of possession plus any other sums then due hereunder. Upon and after entry into possession without termination of this Lease, Lessor may attempt to relet the Demised Premises or any part thereof for the account of Lessee for such Rent, or shall operate the nursing home located on the Demised Premises for such time and upon such terms as Lessor in its sole discretion shall determine. In any such case, Lessor may make repairs, alterations and additions in or to the Demised Premises, and redecorate the same to the extent deemed desirable by Lessor, and Lessee shall, upon demand, pay the reasonable cost thereof, together with Lessor's reasonable expenses of reletting. If the consideration collected by Lessor upon any such reletting is not sufficient to pay monthly the full amount of Rent reserved in this Lease, together with the reasonable costs of repairs, alterations, additions, redecorating and Lessor's expenses, Lessee shall pay to the Lessor the amount of each monthly deficiency upon demand.
21.4 Lessee's liability to Lessor for damages for default in payment of Rent or otherwise hereunder shall in all events survive the termination by Lessor of the Lease or the termination by Lessor of Lessee's right to possession only, as hereinabove provided. Upon such termination of the Lease or at any time after such termination of Lessee's right to possession, Lessor may recover from Lessee and Lessee shall pay to Lessor as damages, whether or not Lessor shall have collected any current monthly deficiencies under the foregoing paragraph, and in lieu of such current deficiencies after the date of demand for such damages, the amount thereof found to be due by a court of competent jurisdiction, which amount thus found may be equal to:
(a) the remainder, if any, of Rent and charges due from Lessee for the period up to and including the date of the termination of the Lease or Lessee's right to possession;
(b) the amount of any current monthly deficiencies accruing and unpaid by Lessee up to and including the date of Lessor's demand for final damages hereunder; and
(c) the excess, if any, of:
(i) the present value, discounted at the rate of 10% per annum, of the Rent reserved for what would have been the remainder of the Term of this Lease together with charges to be paid by Lessee under the Lease; over
(ii) the present value, discounted at the rate of 10% per annum of the then fair rental value of the Demised Premises and the Personal Property. If any statute or rule governing a proceeding in which such damages are to be proved shall validly limit the amount thereof to an amount less than the amount above agreed upon, Lessor shall be entitled to the maximum amount allowable under such statute or rule of law.
Appears in 1 contract
LESSOR'S REMEDIES UPON DEFAULT. 21.1 In the event BBI shall at any time be in default of the payment of rent or the performance of any Event of Default on the part of Lessee, Lessor may, if it so elects, upon written notice to Lessee of such election, forthwith terminate its other obligations under this Lease and Lessee's right BBI shall fail to possession of the Demised Premises, or, at the option of the Lessor, terminate Lessee's right to possession of the Demised Premises without terminating this Lease. Upon any remedy such termination of this Lease, or upon any such termination of Lessee's right to possession without termination of this Lease, Lessee shall vacate the Demised Premises immediately, and shall quietly and peaceably deliver possession thereof to the Lessor, and Lessee hereby grants to the Lessor full and free license to enter into and upon the Demised Premises in such event with or without process of law and to repossess the Demised Premises and Personal Property as the Lessor's former estate. In the event of any such termination of this Lease, the Lessor shall again have possession and enjoyment of the Demised Premises and Personal Property to the extent as if this Lease had not been made, and thereupon this Lease and everything herein contained on the part of Lessee to be done and performed shall cease and terminate, all, however, without prejudice to and without relinquishing the rights of the Lessor to Rent (which, upon such termination of this Lease and entry of Lessor upon the Demised Premises, shall, in any event, be the right to receive Rent due up to the time of such entry) or any other right given to the Lessor hereunder or by operation of law.
21.2 In the event of any Event of Default and Lessor's election either to terminate this Lease or to terminate Lessee's right to possession of the Demised Premises, then all licenses, certifications, permits and authorizations issued by any governmental agency, body or authority in connection with or relating to the Demised Premises and the nursing home operated thereon shall be deemed to be assigned to Lessor, to the extent permitted by law. Lessor shall also have the right to continue to utilize the telephone number and name (other than the name "Sunrise Healthcare" or similar name) used by Lessee in connection with the operation of the nursing home located on the Demised Premises. This Lease shall be deemed and construed as an assignment for purposes of vesting in Lessor, all right, title and interest in and to: (i) all licenses, certifications, permits and authorizations obtained in connection with the operation of the nursing home located on the Demised Premises; and (ii) the name and telephone number used in connection with the operation of the nursing home located on the Demised Premises (other than the name "Sunrise Healthcare" or similar name). Lessee hereby agrees to take such other action and execute such other documents as may be necessary in order to vest in Lessor all right, title and interest to the items specified herein, to the extent permitted by law.
21.3 If Lessee abandons the Demised Premises or otherwise entitles Lessor so to elect, and the Lessor elects to terminate Lessee's right to possession only, without terminating this Lease, Lessor may, at its option, enter into the Demised Premises, remove Lessee's signs and other evidences of tenancy and take and hold possession thereof as in the foregoing paragraph 21.2 of this Article provided, without such entry and possession terminating this Lease or releasing Lessee, in whole or in part, from Lessee's obligation to pay the Rent hereunder for the full remaining Term of this Lease, and in any such case, Lessee shall pay to Lessor a sum equal to the entire amount of the Rent reserved hereunder and required to be paid by Lessee up to the time of such termination of the right of possession plus any other sums then due hereunder. Upon and after entry into possession without termination of this Lease, Lessor may attempt to relet the Demised Premises or any part thereof for the account of Lessee for such Rent, or shall operate the nursing home located on the Demised Premises for such time and upon such terms as Lessor in its sole discretion shall determine. In any such case, Lessor may make repairs, alterations and additions in or to the Demised Premises, and redecorate the same to the extent deemed desirable by Lessor, and Lessee shall, upon demand, pay the reasonable cost thereof, together with Lessor's reasonable expenses of reletting. If the consideration collected by Lessor upon any such reletting is not sufficient to pay monthly the full amount of Rent reserved in this Lease, together with the reasonable costs of repairs, alterations, additions, redecorating and Lessor's expenses, Lessee shall pay to the Lessor the amount of each monthly deficiency upon demand.
21.4 Lessee's liability to Lessor for damages for default in payment of Rent or otherwise hereunder shall in all events survive the termination by Lessor of the Lease or the termination by Lessor of Lessee's right to possession only, as hereinabove provided. Upon such termination of the Lease or at any time after such termination of Lessee's right to possession, Lessor may recover from Lessee and Lessee shall pay to Lessor as damages, whether or not Lessor shall have collected any current monthly deficiencies under the foregoing paragraph, and in lieu of such current deficiencies after the date of demand for such damages, the amount thereof found to be due by a court of competent jurisdiction, which amount thus found may be equal to:
(a) the remainder, if any, of Rent and charges due from Lessee for the period up to and including the date of the termination of the Lease or Lessee's right to possession;
(b) the amount of any current monthly deficiencies accruing and unpaid by Lessee up to and including the date of Lessor's demand for final damages hereunder; and
(c) the excess, if any, ofwithin:
(i) ten (10) days after receipt of written notice thereof from Lessor if said default relates to the present value, discounted at the rate payment of 10% per annum, of the Rent reserved for what would have been the remainder of the Term of this Lease together with charges to be paid by Lessee under the Leaserent; overor
(ii) thirty (30) days after receipt of written notice thereof from Lessor if said default relates to matters other than the present valuepayment of rent, discounted at then Lessor may declare the rate term of 10% per annum this Lease terminated, enter into possession of said premises and xxx for and recover all rent and damages accrued or accruing under this Lease, less rentals or other monies or value received by Lessor for or during the then fair rental unexpired term, or less the reasonable value of the Demised Premises unexpired leasehold term restored to Lessor, or Lessor may xxx and recover without declaring this Lease void or entering into possession of said premises, provided, however, that if Lessor shall take back the Personal Propertypremises it shall attempt to relet same in order to mitigate its damages. If Anything to the contrary contained herein notwithstanding, BBI shall not be deemed in default of a matter (other than payment of rent) if it commences to remedy same with due diligence. In additions, but not by way of limitation, the occurrence of any statute of the following events shall be deemed a matter of default:
(i) BBI shall be adjudged a bankrupt; or
(ii) BBI shall make an assignment for the benefit of creditors; or
(iii) a receiver of any property of BBI in or rule governing a upon the premises be appointed in any action, suit or proceeding by or against BBI and not removed within sixty (60) days after appointment; or
(iv) if the interest of BBI in which such damages are to the premises shall be proved shall validly limit sold under execution or other legal process. Notwithstanding the amount thereof to an amount less than the amount above agreed uponrecital of any specific remedies, Lessor shall be likewise have all rights without limitation to which Lessor is entitled to the maximum amount allowable under such statute at law or rule of lawin equity.
Appears in 1 contract
Samples: Lease (RBC Bearings INC)
LESSOR'S REMEDIES UPON DEFAULT. 21.1 In 19.01 Lessor shall have the event following remedies upon the occurrence of any an Event of Default on the part of LesseeDefault, such remedies being cumulative and not exclusive and in addition to any other remedies available to Lessor may, if it so elects, upon written notice to Lessee of such election, forthwith terminate as now or hereafter provided by law:
(a) Lessor can continue this Lease in full force and Lessee's right to possession of effect, and the Demised Premises, or, at the option of the Lessor, Lease will continue in effect as long as Lessor does not terminate Lessee's right to possession possession, and Lessor shall have the right to collect rent when due, irrespective of whether Lessee shall have abandoned the Demised Premises without terminating this LeasePremises. Upon any such termination of this LeaseDuring the period Lessee is in default, or upon any such termination of Lessee's right to possession without termination of this Lease, Lessee shall vacate the Demised Premises immediately, and shall quietly and peaceably deliver possession thereof to the Lessor, and Lessee hereby grants to the Lessor full and free license to can enter into and upon the Demised Premises in such event with or without process of law and to repossess the Demised Premises and Personal Property as relet them, or any part of them, to third parties for Lessee's account. Lessee shall be liable immediately to Lessor for all costs Lessor incurs in such reletting, including, without limitation, broker's commissions and like costs. Reletting can be for a period shorter or longer than the Lessor's former estate. In the event of any such termination remaining term of this Lease, . Lessee shall pay to Lessor the Lessor shall again have possession and enjoyment of the Demised Premises and Personal Property to the extent as if rent specified in this Lease had not been madeon the dates when the same becomes due, and thereupon less the rent Lessor receives from any reletting. No act by Lessor allowed by this paragraph shall terminate this Lease and everything herein contained on the part of unless Lessor notifies Lessee to be done and performed shall cease and terminate, all, however, without prejudice to and without relinquishing the rights of the that Lessor to Rent (which, upon such termination of this Lease and entry of Lessor upon the Demised Premises, shall, in any event, be the right to receive Rent due up to the time of such entry) or any other right given to the Lessor hereunder or by operation of law.
21.2 In the event of any Event of Default and Lessor's election either elects to terminate this Lease or to Lease. After Lessee's default and for as long as Lessor does not terminate Lessee's right to possession of the Demised Premises, then all licenses, certifications, permits and authorizations issued by any governmental agency, body or authority in connection with or relating to the Demised Premises and the nursing home operated thereon Lessee shall be deemed to be assigned to Lessor, to the extent permitted by law. Lessor shall also have the right to continue assign or sublet Lessee's interest in this Lease pursuant to utilize the telephone number and name (other than the name "Sunrise Healthcare" or similar name) used Article 14, but Lessor's consent may be conditioned upon all defaults by Lessee in connection with being fully cured at the operation time of the nursing home located on the Demised Premises. This Lease shall be deemed and construed as an assignment for purposes of vesting in Lessor, all right, title and interest in and to: (i) all licenses, certifications, permits and authorizations obtained in connection with the operation of the nursing home located on the Demised Premises; and (ii) the name and telephone number used in connection with the operation of the nursing home located on the Demised Premises (other than the name "Sunrise Healthcare" or similar name). Lessee hereby agrees to take such other action and execute such other documents as may be necessary in order to vest in Lessor all right, title and interest to the items specified herein, to the extent permitted by lawsubletting.
21.3 If Lessee abandons the Demised Premises or otherwise entitles (b) Lessor so to elect, and the Lessor elects to can terminate Lessee's right to possession only, without terminating of the Demised Premises at any time during Lessee's default. No act by Lessor other than giving written notice to Lessee shall terminate this Lease. Acts of maintenance, Lessor may, at its option, enter into efforts to relet the Demised Premises, remove Lesseeor the appointment of a receiver on Lessor's signs and other evidences of tenancy and take and hold possession thereof as in the foregoing paragraph 21.2 of this Article provided, without such entry and possession terminating initiative to protect Lessor's interest under this Lease or releasing Lessee, in whole or in part, from Lessee's obligation to pay the Rent hereunder for the full remaining Term of this Lease, and in any such case, Lessee shall pay to Lessor not constitute a sum equal to the entire amount of the Rent reserved hereunder and required to be paid by Lessee up to the time of such termination of the right of possession plus any other sums then due hereunder. Upon and after entry into possession without termination of this Lease, Lessor may attempt to relet the Demised Premises or any part thereof for the account of Lessee for such Rent, or shall operate the nursing home located on the Demised Premises for such time and upon such terms as Lessor in its sole discretion shall determine. In any such case, Lessor may make repairs, alterations and additions in or to the Demised Premises, and redecorate the same to the extent deemed desirable by Lessor, and Lessee shall, upon demand, pay the reasonable cost thereof, together with Lessor's reasonable expenses of reletting. If the consideration collected by Lessor upon any such reletting is not sufficient to pay monthly the full amount of Rent reserved in this Lease, together with the reasonable costs of repairs, alterations, additions, redecorating and Lessor's expenses, Lessee shall pay to the Lessor the amount of each monthly deficiency upon demand.
21.4 Lessee's liability to Lessor for damages for default in payment of Rent or otherwise hereunder shall in all events survive the termination by Lessor of the Lease or the termination by Lessor of Lessee's right to possession only, as hereinabove provided. Upon such termination of the Lease or at any time after such termination of Lessee's right to possession. On termination, Lessor may has the right to recover from Lessee and Lessee shall pay to Lessor as damages, whether or not Lessor shall have collected any current monthly deficiencies under the foregoing paragraph, and in lieu of such current deficiencies after the date of demand for such damages, the amount thereof found to be due by a court of competent jurisdiction, which amount thus found may be equal toLessee:
(a) the remainder, if any, of Rent and charges due from Lessee for the period up to and including the date of the termination of the Lease or Lessee's right to possession;
(b) the amount of any current monthly deficiencies accruing and unpaid by Lessee up to and including the date of Lessor's demand for final damages hereunder; and
(c) the excess, if any, of:
(i) the present value, discounted at the rate of 10% per annum, of the Rent reserved for what would have been the remainder of the Term of this Lease together with charges to be paid by Lessee under the Lease; over
(ii) the present value, discounted at the rate of 10% per annum of the then fair rental value of the Demised Premises and the Personal Property. If any statute or rule governing a proceeding in which such damages are to be proved shall validly limit the amount thereof to an amount less than the amount above agreed upon, Lessor shall be entitled to the maximum amount allowable under such statute or rule of law.
Appears in 1 contract
LESSOR'S REMEDIES UPON DEFAULT. 21.1 In the event of any Event of Default on the part of Lessee, Lessor may, if it so elects, upon written notice to Lessee of such election, forthwith terminate this Lease and Lessee's right to possession of the Demised Premises, or, at the option of the Lessor, terminate Lessee's right to possession of the Demised Premises without terminating this Lease. Upon any such termination of this Lease, or upon any such termination of Lessee's right to possession without termination of this Lease, Lessee shall vacate the Demised Premises immediately, and shall quietly and peaceably deliver possession thereof to the Lessor, and Lessee hereby grants to the Lessor full and free license to enter into and upon the Demised Premises in such event with or without process of law and to repossess the Demised Premises and Personal Property as the Lessor's former estate. In the event of any such termination of this Lease, the Lessor shall again have possession and enjoyment of the Demised Premises and Personal Property to the extent as if this Lease had not been made, and thereupon this Lease and everything herein contained on the part of Lessee to be done and performed shall cease and terminate, all, however, without prejudice to and without relinquishing the rights of the Lessor to Rent (which, upon such termination of this Lease and entry of Lessor upon the Demised Premises, shall, in any event, be the right to receive Rent due up to the time of such entry) or any other right given to the Lessor hereunder or by operation of law.
21.2 In the event of any Event of Default and Lessor's election either to terminate this Lease or to terminate Lessee's right to possession of the Demised Premises, then all licenses, certifications, permits and authorizations issued by any governmental agency, body or authority in connection with or relating to the Demised Premises and the nursing home operated thereon shall be deemed to be assigned to Lessor, to the extent permitted by law. Lessor shall also have the right to continue to utilize the telephone number and name (other than the name "Sunrise Healthcare" or similar name) used by Lessee in connection with the operation of the nursing home located on the Demised Premises. This Lease shall be deemed and construed as an assignment for purposes of vesting in Lessor, all right, title and interest in and to: (i) all licenses, certifications, permits and authorizations obtained in connection with the operation of the nursing home located on the Demised Premises; and (ii) the name and telephone number used in connection with the operation of the nursing home located on the Demised Premises (other than the name "Sunrise Healthcare" or similar name). Lessee hereby agrees to take such other action and execute such other documents as may be necessary in order to vest in Lessor all right, title and interest to the items specified herein, to the extent permitted by law.
21.3 If Lessee abandons the Demised Premises or otherwise entitles Lessor so to elect, and the Lessor elects to terminate Lessee's right to possession only, without terminating this Lease, Lessor may, at its option, enter into the Demised Premises, remove Lessee's signs and other evidences of tenancy and take and hold possession thereof as in the foregoing paragraph 21.2 of this Article provided, without such entry and possession terminating this Lease or releasing Lessee, in whole or in part, from Lessee's obligation to pay the Rent hereunder for the full remaining Term of this Lease, and in any such case, Lessee shall pay to Lessor a sum equal to the entire amount of the Rent reserved hereunder and required to be paid by Lessee up to the time of such termination of the right of possession plus any other sums then due hereunder. Upon and after entry into possession without termination of this Lease, Lessor may attempt to relet the Demised Premises or any part thereof for the account of Lessee for such Rent, or shall operate the nursing home located on the Demised Premises for such time and upon such terms as Lessor in its sole discretion shall determine. In any such case, Lessor may make repairs, alterations and additions in or to the Demised Premises, and redecorate the same to the extent deemed desirable by Lessor, and Lessee shall, upon demand, pay the reasonable cost thereof, together with Lessor's reasonable expenses of reletting. If the consideration collected by Lessor upon any such reletting is not sufficient to pay monthly the full amount of Rent reserved in this Lease, together with the reasonable costs of repairs, alterations, additions, redecorating and Lessor's expenses, Lessee shall pay to the Lessor the amount of each monthly deficiency upon demand.
21.4 Lessee's liability to Lessor for damages for default in payment of Rent or otherwise hereunder shall in all events survive the termination by Lessor of the Lease or the termination by Lessor of Lessee's right to possession only, as hereinabove provided. Upon such termination of the Lease or at any time after such termination of Lessee's right to possession, Lessor may recover from Lessee and Lessee shall pay to Lessor as damages, whether or not Lessor shall have collected any current monthly deficiencies under the foregoing paragraph, and in lieu of such current deficiencies after the date of demand for such damages, the amount thereof found to be due by a court of competent jurisdiction, which amount thus found may be equal to:
(a) the remainder, if any, of Rent and charges due from Lessee for the period up to and including the date of the termination of the Lease or Lessee's right to possession;
(b) the amount of any current monthly deficiencies accruing and unpaid by Lessee up to and including the date of Lessor's demand for final damages hereunder; and
(c) the excess, if any, of:
(i) the present value, discounted at the rate of 10% per annum, of the Rent reserved for what would have been the remainder of the Term of this Lease together with charges to be paid by Lessee under the Lease; over
(ii) the present value, discounted at the rate of 10% per annum of the then fair rental value of the Demised Premises and the Personal Property. If any statute or rule governing a proceeding in which such damages are to be proved shall validly limit the amount thereof to an amount less than the amount above agreed upon, Lessor shall be entitled to the maximum amount allowable under such statute or rule of law.
Appears in 1 contract
LESSOR'S REMEDIES UPON DEFAULT. 21.1 In Upon the event occurrence of any Event of Default on the part of Lesseeby lessee, Lessor mayshall have the rights and remedies hereinafter set forth, if it so electswhich shall be distinct, upon written notice separate and cumulative and shall not operate to Lessee exclude or deprive Lessor of such election, forthwith any other rights or remedy allowed them by law.
a. Lessor may terminate this Lease and Lessee's right by giving written notice of Lessor’s intention so to possession of do, in which event the Demised Premises, or, at the option of the Lessor, terminate Lessee's right to possession of the Demised Premises without terminating this Lease. Upon any such termination of this Lease, or upon any such termination of Lessee's right to possession without termination of this Lease, Lessee term shall vacate the Demised Premises immediatelyend, and shall quietly and peaceably deliver possession thereof to the Lessor, and Lessee hereby grants to the Lessor full and free license to enter into and upon the Demised Premises in such event with or without process of law and to repossess the Demised Premises and Personal Property as the Lessor's former estate. In the event of any such termination of this Lease, the Lessor shall again have possession and enjoyment of the Demised Premises and Personal Property to the extent as if this Lease had not been made, and thereupon this Lease and everything herein contained on the part of Lessee to be done and performed shall cease and terminate, all, however, without prejudice to and without relinquishing the rights of the Lessor to Rent (which, upon such termination of this Lease and entry of Lessor upon the Demised Premises, shall, in any event, be the right to receive Rent due up to the time of such entry) or any other right given to the Lessor hereunder or by operation of law.
21.2 In the event of any Event of Default and Lessor's election either to terminate this Lease or to terminate Lessee's right to possession of the Demised Premises, then all licenses, certifications, permits and authorizations issued by any governmental agency, body or authority in connection with or relating to the Demised Premises and the nursing home operated thereon shall be deemed to be assigned to Lessor, to the extent permitted by law. Lessor shall also have the right to continue to utilize the telephone number and name (other than the name "Sunrise Healthcare" or similar name) used by Lessee in connection with the operation of the nursing home located on the Demised Premises. This Lease shall be deemed and construed as an assignment for purposes of vesting in Lessor, all right, title and interest in and to: (i) all licenses, certifications, permits and authorizations obtained in connection with the operation of the nursing home located Lessee hereunder shall expire on the Demised Premisesdate stated in such notice;
x. Xxxxxx may terminate the right of Lessee to possession of the Leased Premises without terminating this Lease by giving written notice to Lessee that Lessee’s right of Lessee to possession of the Lease Premises or any part thereof shall cease on the date stated in such notice; and
x. Xxxxxx may enforce the provisions of this Lease and may enforce and protect the rights of Lessor hereunder by a suits in equity or at law for the specific performance of any covenant or agreement contained herein, or for the enforcement of any other appropriate legal or equitable remedy, including recovery of all monies due or to become due from Lessee under any of the provisions of this Lease.
d. If the Lessor exercises either of the remedies provided in subparagraphs (a) and (iib) of this paragraph, Lessee shall surrender possession and vacate the name Leased Premises immediately and telephone number used in connection with the operation of the nursing home located on the Demised Premises (other than the name "Sunrise Healthcare" deliver possession thereof to Lessor, and Lessor may then or similar name). Lessee at any time thereafter re-enter and take complete license so to do being hereby agrees granted to take Lessor, and Lessor may remove all occupants and property therefrom, using such other action and execute such other documents force as may be necessary necessary, without being deemed in order to vest in any manner guilty of trespass, eviction or forcible entry and detainer and without relinquishing Lessor all right, title and interest to the items specified herein, to the extent permitted hereunder of by operation of law.
21.3 . If Lessee abandons the Demised Premises or otherwise entitles Lessor so to elect, and the Lessor elects to terminate Lessee's terminates the right of Lessee to possession only, of the Leased Premises without terminating this Lease, Lessor may, at its option, enter into the Demised Premises, remove Lessee's signs and other evidences such termination of tenancy and take and hold possession thereof as in the foregoing paragraph 21.2 of this Article provided, without such entry and possession terminating this Lease or releasing shall not release Lessee, in whole or in part, from Lessee's ’s obligation to pay the Rent rental hereunder for the full remaining Term lease term, and the aggregate amount of the base rent for the period from the date stated in the notice termination of possession to the end of the term of this Lease shall at once mature and be immediately due and payable by Lessee to Lessor, together with any and all other monies due hereunder, and Lessor shall have the right to immediate recovery of all such amounts. In addition, Lessor shall have the right, from time to time, to recover from Lessee, and Lessee shall remain liable for, all additional rent and any other sums thereafter accruing as they become due under this Lease during the period from the date of such notice of termination of possession to the stated end of the term of this Lease, and in any such case, Lessee shall pay to .
e. If this Lease is terminated by Lessor a sum equal to the entire amount of the Rent reserved hereunder and required to be paid as provided for by Lessee up to the time of such termination of the right of possession plus any other sums then due hereunder. Upon and after entry into possession without termination subparagraph (a) of this Leaseparagraph, Lessor may attempt shall be entitled to relet the Demised Premises or any part thereof for the account of Lessee for such Rent, or shall operate the nursing home located on the Demised Premises for such time and upon such terms as Lessor in its sole discretion shall determine. In any such case, Lessor may make repairs, alterations and additions in or to the Demised Premises, and redecorate the same to the extent deemed desirable by Lessor, and Lessee shall, upon demand, pay the reasonable cost thereof, together with Lessor's reasonable expenses of reletting. If the consideration collected by Lessor upon any such reletting is not sufficient to pay monthly the full amount of Rent reserved in this Lease, together with the reasonable costs of repairs, alterations, additions, redecorating and Lessor's expenses, Lessee shall pay to the Lessor the amount of each monthly deficiency upon demand.
21.4 Lessee's liability to Lessor for damages for default in payment of Rent or otherwise hereunder shall in all events survive the termination by Lessor of the Lease or the termination by Lessor of Lessee's right to possession only, as hereinabove provided. Upon such termination of the Lease or at any time after such termination of Lessee's right to possession, Lessor may recover from Lessee all the fixed basic rent accrued and Lessee shall pay to Lessor as damages, whether or not Lessor shall have collected any current monthly deficiencies under the foregoing paragraph, and in lieu of such current deficiencies after the date of demand for such damages, the amount thereof found to be due by a court of competent jurisdiction, which amount thus found may be equal to:
(a) the remainder, if any, of Rent and charges due from Lessee unpaid for the period up to and including the date such termination date, as well as all other additional sums payable by Lessee, or for which Lessee is liable or in respect of all of which Lessee has agreed to indemnify Lessor under any of the termination provisions of the Lease or Lessee's right to possession;
Lease, which may be then owing and unpaid, and all costs and expenses, including court costs and attorney fees incurred by Lessor in the enforcement of (bits) the amount of any current monthly deficiencies accruing rights and unpaid by Lessee up to and including the date of Lessor's demand for final damages remedies hereunder; and
(c) the excess, if any, of:
(i) the present value, discounted at the rate of 10% per annum, of the Rent reserved for what would have been the remainder of the Term of this Lease together with charges to be paid by Lessee under the Lease; over
(ii) the present value, discounted at the rate of 10% per annum of the then fair rental value of the Demised Premises and the Personal Property. If any statute or rule governing a proceeding in which such damages are to be proved shall validly limit the amount thereof to an amount less than the amount above agreed uponaddition, Lessor shall be entitled to recover as damages an amount equal to the maximum remaining rents for the remainder of the term of this Lease, as well as all other additional sums payable by Lessee, or for which Lessee is liable or in respect of which Lessee had agreed to indemnify Lessor under any of the provisions of this Lease had this Lease not been terminated. In addition, Lessor makes repairs, alterations, and additions in or to the Leased Premises and redecorates the same to the extent deemed by the Lessor necessary or desirable and in connection therewith change locks to the Leased Premises, and Lessee shall be liable for the costs thereof. Lessor may collect the rents from any reletting, if any, and apply the same first to the expenses of re-entry, redecoration, repairs and alterations and the expenses of reletting, and second to the payment of rental herein provided to be paid Lessee, and any excess or residue shall operate only as offsetting credit against the amount allowable under of rental as the same thereafter becomes due and payable hereunder, but Lessee shall have no right, title or interest in such statute excess or rule residue and it shall belong to Lessor solely; provided, that in no event shall Lessee be entitled to a credit on indebtedness to Lessor in excess of law.the aggregate sum which would have been paid by Lessee for the period for which the credit to Lessee is being determined, had no Default occurred
Appears in 1 contract
Samples: Lease Agreement (Endocyte Inc)
LESSOR'S REMEDIES UPON DEFAULT. 21.1 In 19.01. Lessor shall have the event following remedies upon the occurrence of any an Event of Default on the part of LesseeDefault, such remedies being cumulative and not exclusive and in addition to any other remedies available to Lessor may, if it so elects, upon written notice to Lessee of such election, forthwith terminate as now or hereafter provided by law:
(a) Lessor can continue this Lease in full force and Lessee's right to possession of effect, and the Demised Premises, or, at the option of the Lessor, Lease will continue in effect as long as Lessor does not terminate Lessee's right to possession possession, and Lessor shall have the right to collect rent when due, irrespective of whether Lessee shall have abandoned the Demised Premises without terminating this LeasePremises. Upon any such termination of this LeaseDuring the period Lessee is in default, or upon any such termination of Lessee's right to possession without termination of this Lease, Lessee shall vacate the Demised Premises immediately, and shall quietly and peaceably deliver possession thereof to the Lessor, and Lessee hereby grants to the Lessor full and free license to can enter into and upon the Demised Premises in such event with or without process of law and to repossess the Demised Premises and Personal Property as relet them, or any part of them, to third parties for Lessee's account. Lessee shall be liable immediately to Lessor for all costs Lessor incurs in such reletting, including, without limitation, broker's commissions, expenses of remodeling the Lessor's former estateDemised Premises required by reletting, and like costs. In Reletting can be for a period shorter or longer than the event of any such termination remaining term of this Lease, . Lessee shall pay to Lessor the Lessor shall again have possession and enjoyment of the Demised Premises and Personal Property to the extent as if rent specified in this Lease had not been madeon the dates when the same becomes due, and thereupon less the rent Lessor receives from any reletting. No act by Lessor allowed by this paragraph shall terminate this Lease and everything herein contained on the part of unless Lessor notifies Lessee to be done and performed shall cease and terminate, all, however, without prejudice to and without relinquishing the rights of the that Lessor to Rent (which, upon such termination of this Lease and entry of Lessor upon the Demised Premises, shall, in any event, be the right to receive Rent due up to the time of such entry) or any other right given to the Lessor hereunder or by operation of law.
21.2 In the event of any Event of Default and Lessor's election either elects to terminate this Lease or to Lease. After Lessee's default and for as long as Lessor does not terminate Lessee's right to possession of the Demised Premises, then all licenses, certifications, permits and authorizations issued by any governmental agency, body or authority in connection with or relating to the Demised Premises and the nursing home operated thereon Lessee shall be deemed to be assigned to Lessor, to the extent permitted by law. Lessor shall also have the right to continue assign or sublet Lessee's interest in this Lease pursuant to utilize the telephone number and name (other than the name "Sunrise Healthcare" or similar name) used Article 14, but Lessor's consent may be conditioned upon all defaults by Lessee in connection with being fully cured at the operation time of the nursing home located on the Demised Premises. This Lease shall be deemed and construed as an assignment for purposes of vesting in Lessor, all right, title and interest in and to: (i) all licenses, certifications, permits and authorizations obtained in connection with the operation of the nursing home located on the Demised Premises; and (ii) the name and telephone number used in connection with the operation of the nursing home located on the Demised Premises (other than the name "Sunrise Healthcare" or similar name). Lessee hereby agrees to take such other action and execute such other documents as may be necessary in order to vest in Lessor all right, title and interest to the items specified herein, to the extent permitted by lawsubletting.
21.3 If Lessee abandons the Demised Premises or otherwise entitles (b) Lessor so to elect, and the Lessor elects to can terminate Lessee's right to possession only, without terminating of the Demised Premises at any time during Lessee's default. No act by Lessor other than giving written notice to Lessee shall terminate this Lease. Acts of maintenance, Lessor may, at its option, enter into efforts to relet the Demised Premises, remove Lesseeor the appointment of a receiver on Lessor's signs and other evidences of tenancy and take and hold possession thereof as in the foregoing paragraph 21.2 of this Article provided, without such entry and possession terminating initiative to protect Lessor's interest under this Lease or releasing Lessee, in whole or in part, from Lessee's obligation to pay the Rent hereunder for the full remaining Term of this Lease, and in any such case, Lessee shall pay to Lessor not constitute a sum equal to the entire amount of the Rent reserved hereunder and required to be paid by Lessee up to the time of such termination of the right of possession plus any other sums then due hereunder. Upon and after entry into possession without termination of this Lease, Lessor may attempt to relet the Demised Premises or any part thereof for the account of Lessee for such Rent, or shall operate the nursing home located on the Demised Premises for such time and upon such terms as Lessor in its sole discretion shall determine. In any such case, Lessor may make repairs, alterations and additions in or to the Demised Premises, and redecorate the same to the extent deemed desirable by Lessor, and Lessee shall, upon demand, pay the reasonable cost thereof, together with Lessor's reasonable expenses of reletting. If the consideration collected by Lessor upon any such reletting is not sufficient to pay monthly the full amount of Rent reserved in this Lease, together with the reasonable costs of repairs, alterations, additions, redecorating and Lessor's expenses, Lessee shall pay to the Lessor the amount of each monthly deficiency upon demand.
21.4 Lessee's liability to Lessor for damages for default in payment of Rent or otherwise hereunder shall in all events survive the termination by Lessor of the Lease or the termination by Lessor of Lessee's right to possession only, as hereinabove provided. Upon such termination of the Lease or at any time after such termination of Lessee's right to possession. On termination, Lessor may has the right to recover from Lessee and Lessee shall pay to Lessor as damagesLessee:
(1) The worth, whether or not Lessor shall at the time of the award, of the unpaid rent that has been earned at the time of termination of this Lease; plus
(2) The worth, at the time of the award, of the amount by which the unpaid rent that would have collected any current monthly deficiencies under the foregoing paragraph, and in lieu of such current deficiencies been earned after the date of demand for such damages, the amount thereof found to be due by a court of competent jurisdiction, which amount thus found may be equal to:
(a) the remainder, if any, of Rent and charges due from Lessee for the period up to and including the date of the termination of this Lease until the Lease or Lessee's right to possession;
(b) time of award exceeds the amount of any current monthly deficiencies accruing and the loss of rent that Lessee proves could have been reasonably avoided; plus
(3) The worth, at the time of the award, of the amount by which the unpaid by rent for the balance of the term after the time of award exceeds the amount of the loss of rent that Lessee up to and including the date of Lessor's demand for final damages hereunderproves could have been reasonably avoided; and
(c4) Any other amount, and court costs, necessary to compensate Lessor for all detriment proximately caused by Lessee's default. "The worth, at the excesstime of the award," as used in (1) and (2) above, if any, of:
(i) the present value, discounted is to be computed by allowing interest at the rate of ten percent (10% %) per annumannum from the date of default. "The worth, at the time of the Rent reserved for what would have been award" as used in (3) above is to be computed by discounting the remainder amount at the discount rate of the Term Federal Reserve Bank of San Francisco at the time of the award, plus one percent (1%). The term "rent," as used in this Lease together with charges Article shall be deemed to include all monetary sums required to be paid by Lessee under the Lease; over
(ii) the present value, discounted at the rate of 10% per annum of the then fair rental value of the Demised Premises and the Personal Property. If any statute or rule governing a proceeding in which such damages are to be proved shall validly limit the amount thereof to an amount less than the amount above agreed upon, Lessor shall be entitled pursuant to the maximum amount allowable under such statute or rule terms of lawthis Lease.
Appears in 1 contract
LESSOR'S REMEDIES UPON DEFAULT. 21.1 In (A) If Tenant defaults in the event payment of rent, or any additional rent, or defaults in the performance of any Event of Default on the part other covenants, terms or conditions hereof, Landlord may give Tenant notice of Lesseesuch default, Lessor mayand if Tenant does not cure any such default within thirty (30) days after the giving of such notice (or, the default is of such nature that it cannot be completely cured within such 15-day period, if it so elects, upon written notice Tenant does not commence such curing within such 15 days and thereafter proceed with reasonable diligence and good faith to Lessee of cure such election, forthwith default) then Landlord shall have the right to terminate this Lease and Lessee's right all rights of Tenant under this Lease by giving written notice to the Tenant. If the Landlord gives written notice of termination, then this Lease shall terminate on the date specified in such notice. On or before the termination date, Tenant shall quit the Leased Premises and surrender the Leased Premises to Lessor, but Tenant shall remain liable as hereinafter provided. Upon the effective date of termination, the Landlord may at any time thereafter resume possession of the Demised PremisesLeased Premises by any lawful means and remove Tenant or other occupants and their effects. No failure of the Landlord to enforce any term or condition of this Lease shall be deemed a waiver. In the event Landlord elects to terminate this Lease, or, Landlord may recover from Tenant:
(a) any unpaid rent due and owing to the Landlord at the option time of termination of the Lessor, terminate Lessee's right to possession Lease; (b) the amount by which the unpaid rent that would have been earned after termination of the Demised Premises without terminating Lease until the time of award exceeds the amount of rental loss that Tenant proves could have been reasonably avoided; (c) the amount by which the unpaid rent for the balance of the term of this Lease after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided; and (d) any other amount necessary to compensate Landlord for full damages proximately caused by Tenant's failure to perform its obligations under this Lease. No act of Landlord shall be construed as terminating this Lease except written notice given by Landlord to Tenant advising Tenant that Landlord elects to terminate the Lease. As used in this paragraph, the term "rent" means the Rent and any other costs, expenses or sums required to be paid by Tenant pursuant to the terms of this Lease Agreement.
(B) Upon any such the expiration or earlier termination of this Lease, or upon any such termination of Lessee's right renewals or extensions hereof, Tenant shall quit and surrender the Leased Premises to possession without termination of this LeaseLandlord clean and in good order and condition, Lessee shall vacate the Demised Premises immediatelyordinary wear and tear excepted. Tenant shall, and shall quietly and peaceably deliver possession thereof on or prior to the Lessordate of expiration or earlier termination, remove all its property and Lessee hereby grants repair all damage to the Lessor full Leased Premises caused by such removal and free license to enter into and upon the Demised Premises in such event with or without process of law and to repossess the Demised Premises and Personal Property as the Lessor's former estate. In the event of any such termination of this Lease, the Lessor shall again have possession and enjoyment make reasonable restoration of the Demised Leased Premises and Personal Property to the extent as if this Lease had not been made, and thereupon this Lease and everything herein contained condition in which they existed prior to the installation of the property so removed. Any property of the Tenant that remains on the part of Lessee to be done and performed shall cease and terminate, all, however, without prejudice to and without relinquishing Premises after the rights of the Lessor to Rent (which, upon such expiration or termination of this Lease and entry may be treated by the Landlord as abandoned property. Any item of Lessor upon property which is left on the Demised Premises, shall, in any event, be the right to receive Rent due up to the time of such entryLeased Premises that is worth less than $1,000.00 (one thousand dollars) or any other right given to the Lessor hereunder or by operation of law.
21.2 In the event of any Event of Default and Lessor's election either to terminate this Lease or to terminate Lessee's right to possession of the Demised Premises, then all licenses, certifications, permits and authorizations issued by any governmental agency, body or authority in connection with or relating to the Demised Premises and the nursing home operated thereon shall be deemed to be assigned to Lessor, to the extent permitted by law. Lessor shall also have the right to continue to utilize the telephone number abandoned and name (other than the name "Sunrise Healthcare" or similar name) used by Lessee in connection with the operation of the nursing home located on the Demised Premises. This Lease shall be deemed and construed as an assignment for purposes of vesting in Lessor, all right, title and interest in and to: (i) all licenses, certifications, permits and authorizations obtained in connection with the operation of the nursing home located on the Demised Premises; and (ii) the name and telephone number used in connection with the operation of the nursing home located on the Demised Premises (other than the name "Sunrise Healthcare" or similar name). Lessee hereby agrees to take such other action and execute such other documents as may be necessary in order to vest in Lessor all right, title immediately removed by the Landlord and interest to the items specified herein, to the extent permitted by lawdisposed of as trash.
21.3 If Lessee abandons the Demised Premises or otherwise entitles Lessor so to elect, and the Lessor elects to terminate Lessee's right to possession only, without terminating this Lease, Lessor may, at its option, enter into the Demised Premises, remove Lessee's signs and other evidences of tenancy and take and hold possession thereof as in the foregoing paragraph 21.2 of this Article provided, without such entry and possession terminating this Lease or releasing Lessee, in whole or in part, from Lessee's obligation to pay the Rent hereunder for the full remaining Term of this Lease, and in any such case, Lessee shall pay to Lessor a sum equal to the entire amount of the Rent reserved hereunder and required to be paid by Lessee up to the time of such termination of the right of possession plus any other sums then due hereunder. Upon and after entry into possession without termination of this Lease, Lessor may attempt to relet the Demised Premises or any part thereof for the account of Lessee for such Rent, or shall operate the nursing home located on the Demised Premises for such time and upon such terms as Lessor in its sole discretion shall determine. In any such case, Lessor may make repairs, alterations and additions in or to the Demised Premises, and redecorate the same to the extent deemed desirable by Lessor, and Lessee shall, upon demand, pay the reasonable cost thereof, together with Lessor's reasonable expenses of reletting. If the consideration collected by Lessor upon any such reletting is not sufficient to pay monthly the full amount of Rent reserved in this Lease, together with the reasonable costs of repairs, alterations, additions, redecorating and Lessor's expenses, Lessee shall pay to the Lessor the amount of each monthly deficiency upon demand.
21.4 Lessee's liability to Lessor for damages for default in payment of Rent or otherwise hereunder shall in all events survive the termination by Lessor of the Lease or the termination by Lessor of Lessee's right to possession only, as hereinabove provided. Upon such termination of the Lease or at any time after such termination of Lessee's right to possession, Lessor may recover from Lessee and Lessee shall pay to Lessor as damages, whether or not Lessor shall have collected any current monthly deficiencies under the foregoing paragraph, and in lieu of such current deficiencies after the date of demand for such damages, the amount thereof found to be due by a court of competent jurisdiction, which amount thus found may be equal to:
(a) the remainder, if any, of Rent and charges due from Lessee for the period up to and including the date of the termination of the Lease or Lessee's right to possession;
(b) the amount of any current monthly deficiencies accruing and unpaid by Lessee up to and including the date of Lessor's demand for final damages hereunder; and
(c) the excess, if any, of:
(i) the present value, discounted at the rate of 10% per annum, of the Rent reserved for what would have been the remainder of the Term of this Lease together with charges to be paid by Lessee under the Lease; over
(ii) the present value, discounted at the rate of 10% per annum of the then fair rental value of the Demised Premises and the Personal Property. If any statute or rule governing a proceeding in which such damages are to be proved shall validly limit the amount thereof to an amount less than the amount above agreed upon, Lessor shall be entitled to the maximum amount allowable under such statute or rule of law.
Appears in 1 contract
Samples: Lease Agreement
LESSOR'S REMEDIES UPON DEFAULT. 21.1 In Lessor shall have the event following remedies upon the occurrence of any an Event of Default on the part of LesseeDefault, such remedies being cumulative and not exclusive and in addition to any other remedies available to Lessor may, if it so elects, upon written notice to Lessee of such election, forthwith terminate as now or hereafter provided by law:
(a) Lessor can continue this Lease in full force and Lessee's right to possession of effect, and the Demised Premises, or, at the option of the Lessor, Lease will continue in effect as long as Lessor does not terminate Lessee's right to possession possession, and Lessor shall have the right to collect rent when due, irrespective of whether Lessee shall have abandoned the Demised Premises without terminating this LeasePremises. Upon any such termination of this LeaseDuring the period Lessee is in default, or upon any such termination of Lessee's right to possession without termination of this Lease, Lessee shall vacate the Demised Premises immediately, and shall quietly and peaceably deliver possession thereof to the Lessor, and Lessee hereby grants to the Lessor full and free license to can enter into and upon the Demised Premises in such event with or without process of law and to repossess the Demised Premises and Personal Property as relet them, or any part of them, to third parties for Lessee's account. Lessee shall be liable immediately to Lessor for all costs Lessor incurs in such reletting, including, without limitation, broker's commissions, expenses of remodeling the Lessor's former estateDemised Premises required by reletting, and the costs. In Reletting can be for a period shorter or longer than the event of any such termination remaining term of this Lease, . Lessee shall pay to Lessor the Lessor shall again have possession and enjoyment of the Demised Premises and Personal Property to the extent as if rent specified in this Lease had not been madeon the dates when the same becomes due, and thereupon less the rent Lessor receives from any reletting. No act by Lessor allowed by this paragraph shall terminate this Lease and everything herein contained on the part of unless Lessor notifies Lessee to be done and performed shall cease and terminate, all, however, without prejudice to and without relinquishing the rights of the that Lessor to Rent (which, upon such termination of this Lease and entry of Lessor upon the Demised Premises, shall, in any event, be the right to receive Rent due up to the time of such entry) or any other right given to the Lessor hereunder or by operation of law.
21.2 In the event of any Event of Default and Lessor's election either elects to terminate this Lease or to Lease. After Lessee's default and for as long as Lessor does not terminate Lessee's right to possession of the Demised Premises, then all licenses, certifications, permits and authorizations issued by any governmental agency, body or authority in connection with or relating to the Demised Premises and the nursing home operated thereon Lessee shall be deemed to be assigned to Lessor, to the extent permitted by law. Lessor shall also have the right to continue assign or sublet Lessee's interest in this Lease pursuant to utilize the telephone number and name (other than the name "Sunrise Healthcare" or similar name) used Article XIII, but Lessor's consent may be conditioned upon all defaults by Lessee in connection with being fully cured at the operation time of the nursing home located on the Demised Premises. This Lease shall be deemed and construed as an assignment for purposes of vesting in Lessor, all right, title and interest in and to: (i) all licenses, certifications, permits and authorizations obtained in connection with the operation of the nursing home located on the Demised Premises; and (ii) the name and telephone number used in connection with the operation of the nursing home located on the Demised Premises (other than the name "Sunrise Healthcare" or similar name). Lessee hereby agrees to take such other action and execute such other documents as may be necessary in order to vest in Lessor all right, title and interest to the items specified herein, to the extent permitted by lawsubletting.
21.3 If Lessee abandons the Demised Premises or otherwise entitles (b) Lessor so to elect, and the Lessor elects to can terminate Lessee's right to possession only, without terminating of the Demised Premises at any time during Lessee's default. No act by Lessor other than giving written notice to Lessee shall terminate this Lease. Acts of maintenance, Lessor may, at its option, enter into efforts to relet the Demised Premises, remove Lesseeor the appointment of a receiver on Lessor's signs and other evidences of tenancy and take and hold possession thereof as in the foregoing paragraph 21.2 of this Article provided, without such entry and possession terminating initiative to protect Lessor's interest under this Lease or releasing Lessee, in whole or in part, from Lessee's obligation to pay the Rent hereunder for the full remaining Term of this Lease, and in any such case, Lessee shall pay to Lessor not constitute a sum equal to the entire amount of the Rent reserved hereunder and required to be paid by Lessee up to the time of such termination of the right of possession plus any other sums then due hereunder. Upon and after entry into possession without termination of this Lease, Lessor may attempt to relet the Demised Premises or any part thereof for the account of Lessee for such Rent, or shall operate the nursing home located on the Demised Premises for such time and upon such terms as Lessor in its sole discretion shall determine. In any such case, Lessor may make repairs, alterations and additions in or to the Demised Premises, and redecorate the same to the extent deemed desirable by Lessor, and Lessee shall, upon demand, pay the reasonable cost thereof, together with Lessor's reasonable expenses of reletting. If the consideration collected by Lessor upon any such reletting is not sufficient to pay monthly the full amount of Rent reserved in this Lease, together with the reasonable costs of repairs, alterations, additions, redecorating and Lessor's expenses, Lessee shall pay to the Lessor the amount of each monthly deficiency upon demand.
21.4 Lessee's liability to Lessor for damages for default in payment of Rent or otherwise hereunder shall in all events survive the termination by Lessor of the Lease or the termination by Lessor of Lessee's right to possession only, as hereinabove provided. Upon such termination of the Lease or at any time after such termination of Lessee's right to possession. On termination, Lessor may has the right to recover from Lessee and Lessee shall pay to Lessor as damagesLessee:
(1) The worth, whether or not Lessor shall at the time of the award, of the unpaid rent that has been earned at the time of termination of this Lease; plus
(2) The worth, at the time of the award, of the amount by which the unpaid rent that would have collected any current monthly deficiencies under the foregoing paragraph, and in lieu of such current deficiencies been earned after the date of demand for such damages, the amount thereof found to be due by a court of competent jurisdiction, which amount thus found may be equal to:
(a) the remainder, if any, of Rent and charges due from Lessee for the period up to and including the date of the termination of this Lease until the Lease or Lessee's right to possession;
(b) time of award exceeds the amount of any current monthly deficiencies accruing and the loss of rent that Lessee proves could have been reasonably avoided; plus
(3) The worth, at the time of the award, of the amount by which the unpaid by rent for the balance of the term after the time of award exceeds the amount of the loss of rent that Lessee up to and including the date of Lessor's demand for final damages hereunderproves could have been reasonably avoided; and
(c4) Any other amount, the excesscourt costs, if anynecessary to compensate Lessor for all detriment approximately caused by Lessee's default. "The worth, of:
at the time of the award," as used in (i1) the present valueand (2) above, discounted is to be computed by allowing interest at the rate of ten percent (10% %) per annumannum from the date of default. "The worth, at the time of the Rent reserved for what would have been award" as used in (3) above is to be computed by discounting the remainder amount at the discount rate of the Term Federal Reserve Bank of San Francisco at the time of the award, plus one percent (1%). The term "rent," as used in this Lease together with charges Article shall be deemed to include all monetary sums required to be paid by Lessee under the Lease; over
(ii) the present value, discounted at the rate of 10% per annum of the then fair rental value of the Demised Premises and the Personal Property. If any statute or rule governing a proceeding in which such damages are to be proved shall validly limit the amount thereof to an amount less than the amount above agreed upon, Lessor shall be entitled pursuant to the maximum amount allowable under such statute or rule terms of lawthis Lease.
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LESSOR'S REMEDIES UPON DEFAULT. 21.1 In 19.01 Lessor shall have the event following remedies upon the occurrence of any an Event of Default on the part of LesseeDefault, such remedies being cumulative and not exclusive and in addition to any other remedies available to Lessor may, if it so elects, upon written notice to Lessee of such election, forthwith terminate as now or hereafter provided by law:
(a) Lessor can continue this Lease in full force and Lessee's right to possession of effect, and the Demised Premises, or, at the option of the Lessor, Lease will continue in effect as along as Lessor does not terminate Lessee's right to possession possession, and Lessor shall have the right to collect rent when due, irrespective of whether Lessee shall have abandoned the Demised Premises without terminating this LeasePremises. Upon any such termination of this LeaseDuring the period Lessee is in default, or upon any such termination of Lessee's right to possession without termination of this Lease, Lessee shall vacate the Demised Premises immediately, and shall quietly and peaceably deliver possession thereof to the Lessor, and Lessee hereby grants to the Lessor full and free license to can enter into and upon the Demised Premises in such event with or without process of law and to repossess the Demised Premises and Personal Property as relet them, or any part of them, to third parties for Lessee's account. Lessee shall be liable immediately to Lessor for all reasonable costs Lessor incurs in such reletting, including, without limitation, broker's commissions, expenses of remodeling the Lessor's former estateDemised Premises required by reletting, and like costs. In Reletting can be for period shorter or longer than the event of any such termination remaining term of this Lease, . Lessee shall pay to Lessor the Lessor shall again have possession and enjoyment of the Demised Premises and Personal Property to the extent as if rent specified in this Lease had not been madeon the dates when the same becomes due, and thereupon less the rent Lessor receives from any reletting. No act by Lessor allowed by this paragraph shall terminate this Lease and everything herein contained on the part of unless Lessor notifies Lessee to be done and performed shall cease and terminate, all, however, without prejudice to and without relinquishing the rights of the that Lessor to Rent (which, upon such termination of this Lease and entry of Lessor upon the Demised Premises, shall, in any event, be the right to receive Rent due up to the time of such entry) or any other right given to the Lessor hereunder or by operation of law.
21.2 In the event of any Event of Default and Lessor's election either elects to terminate this Lease or to Lease. After Lessee's default and for as long as Lessor does not terminate Lessee's right to possession of the Demised Premises, then all licenses, certifications, permits and authorizations issued by any governmental agency, body or authority in connection with or relating to the Demised Premises and the nursing home operated thereon Lessee shall be deemed to be assigned to Lessor, to the extent permitted by law. Lessor shall also have the right to continue assign or sublet Lessee's interest in this Lease pursuant to utilize the telephone number and name (other than the name "Sunrise Healthcare" or similar name) used Article 14, but Lessor's consent may be conditioned upon all defaults by Lessee in connection with being fully cured at the operation time of the nursing home located on the Demised Premises. This Lease shall be deemed and construed as an assignment for purposes of vesting in Lessor, all right, title and interest in and to: (i) all licenses, certifications, permits and authorizations obtained in connection with the operation of the nursing home located on the Demised Premises; and (ii) the name and telephone number used in connection with the operation of the nursing home located on the Demised Premises (other than the name "Sunrise Healthcare" or similar name). Lessee hereby agrees to take such other action and execute such other documents as may be necessary in order to vest in Lessor all right, title and interest to the items specified herein, to the extent permitted by lawsubletting.
21.3 If Lessee abandons the Demised Premises or otherwise entitles (b) Lessor so to elect, and the Lessor elects to can terminate Lessee's right to possession only, without terminating of the Demised Premises at any time during Lessee's default. No act by Lessor other than giving written notice to Lessee shall terminate this Lease. Acts of maintenance, Lessor may, at its option, enter into efforts to relet the Demised Premises, remove Lesseeor the appointment of a receiver on Lessor's signs and other evidences of tenancy and take and hold possession thereof as in the foregoing paragraph 21.2 of this Article provided, without such entry and possession terminating initiative to protect Lessor's interest under this Lease or releasing Lessee, in whole or in part, from Lessee's obligation to pay the Rent hereunder for the full remaining Term of this Lease, and in any such case, Lessee shall pay to Lessor not constitute a sum equal to the entire amount of the Rent reserved hereunder and required to be paid by Lessee up to the time of such termination of the right of possession plus any other sums then due hereunder. Upon and after entry into possession without termination of this Lease, Lessor may attempt to relet the Demised Premises or any part thereof for the account of Lessee for such Rent, or shall operate the nursing home located on the Demised Premises for such time and upon such terms as Lessor in its sole discretion shall determine. In any such case, Lessor may make repairs, alterations and additions in or to the Demised Premises, and redecorate the same to the extent deemed desirable by Lessor, and Lessee shall, upon demand, pay the reasonable cost thereof, together with Lessor's reasonable expenses of reletting. If the consideration collected by Lessor upon any such reletting is not sufficient to pay monthly the full amount of Rent reserved in this Lease, together with the reasonable costs of repairs, alterations, additions, redecorating and Lessor's expenses, Lessee shall pay to the Lessor the amount of each monthly deficiency upon demand.
21.4 Lessee's liability to Lessor for damages for default in payment of Rent or otherwise hereunder shall in all events survive the termination by Lessor of the Lease or the termination by Lessor of Lessee's right to possession only, as hereinabove provided. Upon such termination of the Lease or at any time after such termination of Lessee's right to possession. On termination, Lessor may has the right to recover from Lessee and Lessee shall pay to Lessor as damagesLessee:
(1) The worth, whether or not Lessor shall at the time of the award, of the unpaid rent that has been earned at the time of termination of this Lease; plus
(2) The worth, at the time of the award, of the amount by which the unpaid rent that would have collected any current monthly deficiencies under the foregoing paragraph, and in lieu of such current deficiencies been earned after the date of demand for such damages, the amount thereof found to be due by a court of competent jurisdiction, which amount thus found may be equal to:
(a) the remainder, if any, of Rent and charges due from Lessee for the period up to and including the date of the termination of this Lease until the Lease or Lessee's right to possession;
(b) time of award exceeds the amount of any current monthly deficiencies accruing and unpaid by the loss of rent that Lessee up to and including the date of Lessor's demand for final damages hereunderproves could have been reasonably avoided; andplus
(c3) The worth, at the excesstime of the award, if any, of:of the amount by which the unpaid rent for the balance of the term after the time of award exceeds the amount of the loss of rent that Lessee proves could have been reasonably avoided; plus
(i4) Any other amount, and court costs, necessary to compensate Lessor for all detriment proximately cause Lessee's default. "The worth, at the present valuetime of the award," as used in (1) and (2) above, discounted is to computed by allowing interest at the rate of ten percent (10% %) per annumannum from the date of default. "The worth, at the time of the Rent reserved for what would have been award" as used in (3) above is to be computed by discounting the remainder amount at the discount rate of the Term Federal Reserve Bank of San Francisco at the time of the award, plus one percent (1%). The term "rent," as used in this Lease together with charges Article shall be deemed to include all monetary sums required to be paid by Lessee under the Lease; over
(ii) the present value, discounted at the rate of 10% per annum of the then fair rental value of the Demised Premises and the Personal Property. If any statute or rule governing a proceeding in which such damages are to be proved shall validly limit the amount thereof to an amount less than the amount above agreed upon, Lessor shall be entitled pursuant to the maximum amount allowable under such statute or rule terms of lawthis Lease.
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LESSOR'S REMEDIES UPON DEFAULT. 21.1 In the event of any Event of Default on the part of Lessee, Lessor may, if it so elects, and with or without any further demand whatsoever upon written notice to Lessee of such electionLessee, forthwith terminate this Lease and Lessee's right to possession of the Demised PremisesLeased Property, or, at the option of the Lessor, terminate Lessee's right to possession of the Demised Premises Leased Property without terminating this Lease. Upon any such termination of this Lease, or upon any such termination of Lessee's right to possession without termination of this Lease, Lessee shall vacate the Demised Premises immediately, and shall quietly and peaceably deliver possession thereof to the Lessor, and Lessee hereby grants to the Lessor full and free license to enter into and upon the Demised Premises in such event with or without process of law and to repossess the Demised Premises and Personal Property as the Lessor's former estate. In the event of any such termination of this Lease, the Lessor shall again have possession and enjoyment of the Demised Premises and Personal Property to the extent as if this Lease had not been made, and thereupon this Lease and everything herein contained on the part of Lessee to be done and performed shall cease and terminate, all, however, without prejudice to and without relinquishing the rights of the Lessor to Rent rent (which, upon such termination of this Lease and entry of Lessor upon the Demised Premises, shall, in any event, be the right to receive Rent rent due up to the time of such entry) or any other right given to the Lessor hereunder or by operation of law.
21.2 In the event of any Event of Default and Lessor's election either to terminate this Lease or to terminate Lessee's right to possession of the Demised Premises, then all licenses, certifications, permits and authorizations issued by any governmental agency, body or authority in connection with or relating to the Demised Premises and the nursing home operated thereon shall be deemed to be assigned to Lessor, to the extent permitted by law. Lessor shall also have the right to continue to utilize the telephone number and name (other than the name "Sunrise Healthcare" or similar name) used by Lessee in connection with the operation of the nursing home located on the Demised Premises. This Lease shall be deemed and construed as an assignment for purposes of vesting in Lessor, all right, title and interest in and to: (i) all licenses, certifications, permits and authorizations obtained in connection with the operation of the nursing home located on the Demised Premises; and (ii) the name and telephone number used in connection with the operation of the nursing home located on the Demised Premises (other than the name "Sunrise Healthcare" or similar name). Lessee hereby agrees to take such other action and execute such other documents as may be necessary in order to vest in Lessor all right, title and interest to the items specified herein, to the extent permitted by law.
21.3 If Lessee abandons the Demised Premises or otherwise entitles Lessor so to elect, and the Lessor elects to terminate Lessee's right to possession only, without terminating this Lease, Lessor may, at its option, enter into the Demised Premises, remove Lessee's signs and other evidences of tenancy and take and hold possession thereof as in the foregoing paragraph 21.2 Section 21.1 of this Article provided, without such entry and possession terminating this Lease or releasing Lessee, in whole or in part, from Lessee's obligation to pay the Rent rent hereunder for the full remaining Term term of this Lease, less any rents and other charges that Lessor will receive by reason of reletting the Demised Premises, and in any such case, Lessee shall pay to Lessor a sum equal to the entire amount of the Rent any rent reserved hereunder and required to be paid by Lessee up to the time of such termination of the right of possession plus any other sums then due hereunder. Upon and after entry into possession without termination of this Lease, Lessor may attempt to relet the Demised Premises or any part thereof for the account of Lessee for such Rentrent, or shall operate the nursing home located on the Demised Premises for such time and upon such terms as Lessor in its sole discretion shall determine. In any such case, Lessor may make repairs, alterations and additions in or to the Demised Premises, and redecorate the same to the extent deemed desirable by Lessor, and Lessee shall, upon demand, pay the reasonable cost thereof, together with of Lessor's reasonable expenses of relettingreletting including, Lessor's reasonable attorney's fees. If the consideration collected by Lessor upon any such reletting is not sufficient to pay monthly the full amount of Rent rent reserved in this Lease, together with the any reasonable costs of repairs, alterations, additions, additions or redecorating and Lessornecessitated by Lessee's expensesdefault hereunder, Lessee shall pay to the Lessor the amount of each monthly deficiency upon demand.
21.4 Lessee's liability to Lessor for damages for default in payment of Rent or otherwise hereunder shall in all events survive the termination by Lessor of the Lease or the termination by Lessor of Lessee's right to possession only, as hereinabove provided. Upon such termination of the Lease or at any time after such termination of Lessee's right to possession, Lessor may recover from Lessee and Lessee shall pay to Lessor as damages, whether or not Lessor shall have collected any current monthly deficiencies under the foregoing paragraph, and in lieu of such current deficiencies after the date of demand for such damages, the amount thereof found to be due by a court of competent jurisdiction, which amount thus found may be equal to:
(a) the remainder, if any, of Rent and charges due from Lessee for the period up to and including the date of the termination of the Lease or Lessee's right to possession;
(b) the amount of any current monthly deficiencies accruing and unpaid by Lessee up to and including the date of Lessor's demand for final damages hereunder; and
(c) the excess, if any, of:
(i) the present value, discounted at the rate of 10% per annum, of the Rent reserved for what would have been the remainder of the Term of this Lease together with charges to be paid by Lessee under the Lease; over
(ii) the present value, discounted at the rate of 10% per annum of the then fair rental value of the Demised Premises and the Personal Property. If any statute or rule governing a proceeding in which such damages are to be proved shall validly limit the amount thereof to an amount less than the amount above agreed upon, Lessor shall be entitled to the maximum amount allowable under such statute or rule of law.
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Samples: Lease Agreement (LTC Healthcare Inc)
LESSOR'S REMEDIES UPON DEFAULT. 21.1 In the event of any Event of Default on the part of Lessee, Lessor may, if it so elects, upon ten (10) days prior written notice to Lessee of such election, and with or without any demand whatsoever upon Lessee, forthwith terminate this Lease Sub-Sublease and Lessee's right to possession of the Demised Premises, or, at the option of the Lessor, terminate Lessee's right to possession of the Demised Premises without terminating this LeaseSub-Sublease. Upon any such termination of this LeaseSub-Sublease, or upon any such termination of Lessee's right to possession without termination of this LeaseSub-Sublease, Lessee shall vacate the Demised Premises immediately, and shall quietly and peaceably deliver possession thereof to the Lessor, and Lessee hereby grants to the Lessor full and free license to enter into and upon the Demised Premises in such event with or without process of law and to repossess the Demised Premises and Personal Property as the Lessor's former estate. In the event of any such termination of this LeaseSub-Sublease, the Lessor shall again have possession and enjoyment of the Demised Premises and Personal Property to the extent as if this Lease Sub-Sublease had not been made, and thereupon this Lease Sub-Sublease and everything herein contained on the part of Lessee to be done and performed shall cease and terminate, all, however, without prejudice to and without relinquishing the rights of the Lessor to Rent (which, upon such termination of this Lease Sub-Sublease and entry of Lessor upon the Demised Premises, shall, in any event, be the right to receive Rent due up to the time of such entry) or any other right given to the Lessor hereunder or by operation of law.
21.2 In the event of any Event of Default and Lessor's election either to terminate this Lease Sub-Sublease or to terminate Lessee's right to possession of the Demised Premises, then all licenses, certifications, permits and authorizations issued by any governmental agency, body or authority in connection with or relating to the Demised Premises and the nursing home operated thereon shall be deemed to be assigned to Lessor, to the extent permitted by law. Lessor shall also have the right to continue to utilize the telephone number and name (other than the name "Sunrise Healthcare" or similar name") used by Lessee in connection with the operation of the nursing home located on the Demised Premises. This Lease shall be deemed and construed as an assignment for purposes of vesting in Lessor, all right, title and interest in and to: (i) all licenses, certifications, permits and authorizations obtained in connection with the operation of the nursing home located on the Demised Premises; and (ii) the name and telephone number used in connection with the operation of the nursing home located on the Demised Premises (other than the name "Sunrise Healthcare" or similar name"). Lessee hereby agrees to take such other action and execute such other documents as may be necessary in order to vest in Lessor all right, title and interest to the items specified herein, to the extent permitted by law.
21.3 If Lessee abandons the Demised Premises or otherwise entitles Lessor so to elect, and the Lessor elects to terminate Lessee's right to possession only, without terminating this LeaseSub-Sublease, Lessor may, at its option, enter into the Demised Premises, remove Lessee's signs and other evidences of tenancy and take and hold possession thereof as in the foregoing paragraph 21.2 of this Article provided, without such entry and possession terminating this Lease Sub-Sublease or releasing Lessee, in whole or in part, from Lessee's obligation to pay the Rent hereunder for the full remaining Term of this LeaseSub-Sublease, and in any such case, Lessee shall pay to Lessor a sum equal to the entire amount of the Rent reserved hereunder and required to be paid by Lessee up to the time of such termination of the right of possession plus any other sums then due hereunder. Upon and after entry into possession without termination of this LeaseSub-Sublease, Lessor may attempt to relet the Demised Premises or any part thereof for the account of Lessee for such Rent, or shall operate the nursing home located on the Demised Premises for such time and upon such terms as Lessor in its sole discretion shall determine. In any such case, Lessor may make repairs, alterations and additions in or to the Demised Premises, and redecorate the same to the extent deemed desirable by Lessor, and Lessee shall, upon demand, pay the reasonable cost thereof, together with Lessor's reasonable expenses of reletting. If the consideration collected by Lessor upon any such reletting is not sufficient to pay monthly the full amount of Rent reserved in this LeaseSub-Sublease, together with the reasonable costs of repairs, alterations, additions, redecorating and Lessor's expenses, Lessee shall pay to the Lessor the amount of each monthly deficiency upon demand.
21.4 Lessee's liability to Lessor for damages for default in payment of Rent or otherwise hereunder shall in all events survive the termination by Lessor of the Lease or the termination by Lessor of Lessee's right to possession only, as hereinabove provided. Upon such termination of the Lease or at any time after such termination of Lessee's right to possession, Lessor may recover from Lessee and Lessee shall pay to Lessor as damages, whether or not Lessor shall have collected any current monthly deficiencies under the foregoing paragraph, and in lieu of such current deficiencies after the date of demand for such damages, the amount thereof found to be due by a court of competent jurisdiction, which amount thus found may be equal to:
(a) the remainder, if any, of Rent and charges due from Lessee for the period up to and including the date of the termination of the Lease or Lessee's right to possession;
(b) the amount of any current monthly deficiencies accruing and unpaid by Lessee up to and including the date of Lessor's demand for final damages hereunder; and
(c) the excess, if any, of:
(i) the present value, discounted at the rate of 10% per annum, of the Rent reserved for what would have been the remainder of the Term of this Lease Sub-Sublease together with charges to be paid by Lessee under the Lease; over
(ii) the present value, discounted at the rate of 10% per annum of the then fair rental value of the Demised Premises and the Personal Property. If any statute or rule governing a proceeding in which such damages are to be proved shall validly limit the amount thereof to an amount less than the amount above agreed upon, Lessor shall be entitled to the maximum amount allowable under such statute or rule of law.
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