LESSOR'S RIGHTS UPON DEFAULT. (a) If Lessee shall fail to remedy any default of Lessee within the cure period, if any, as provided for in Section 12 hereof, then this Lease may be terminated at Lessor's option by ,written notice to Lessee: (b) Upon default of Lessee that is not cured within the applicable cure period, Lessee shall peacefully surrender the premises to Lessor and Lessor upon or at any time after such default may, without further notice, re-enter the premises and repossess it by any and all lawful means and may dispossess Lessee and remove Lessee and all other persons and property from the premises and may have, hold and enjoy the premises and the right to receive all rental income therefrom. Lessor's obtaining possession of the premises shall not be a termination of the Lease unless lessor gives written notice to Lessee of its election to terminate this Lease. (c) At any time after the default of Lessee that is not cured within the applicable cure period Lessor may re-let the premises or any part thereof, in the name of Lessor, for such term which may be greater or less than the period which would otherwise have constituted the balance of the Term and on such conditions which may include concession, free rent_ or less rent than Lessee is required to pay, as the Lessor, in its reasonable discretion, may determine, and may collect and receive the rent therefrom; (d) Lessor shall in no way be responsible or liable for any failure to re-let the premises or any part thereof, or for any failure to collect any rent due upon such re- letting; (e) No entry, possession or relenting of the premises shall be deemed a termination of this Lease nor shall it be considered a release of any of Lessee's liability under the lease; (f) No termination of this Lease resulting from Xxx'x default shall relieve the Lessee of its liability and obligations under this Lease (whether those obligations arise or become due before the date of termination or afterward), and such liability and obligations shall survive any such termination : (g) In the event of default by Lessee (whether or not this Lease has been terminated and whether or not the premises or any part thereof shall have been re-let). Lessee shall pay to lessor the rent, additional rent, and all other charges required to be paid by Lessee up to the time of such termination, and thereafter Lessee, until the end of what would have been the Term shall be liable to Lessor for, and shall pay to Lessor, as and for agreed "current damages" for Lessee's default: 1. The equivalent of the amount of the rent and additional rent which would be payable under this Lease by the Lessee if this Lease were still in effect, less 2. The net proceeds of any re-letting of the premises effected after deducting all the Lessor's reasonable expenses in connection with such re-letting including, without limitation, all repossession costs, brokerage commissions, legal expenses and reasonable attorney's fees; (h) Lessee shall pay such "current damages", herein called deficiency, to Lessor monthly on the days on which the rent and additional rent would have been payable under this Lease if this Lease were still in effect. and as such deficiency shall arise: (i) Alternatively to paragraph (g), Lessor shall have the right to recover from Lessee the worth at the time of award of the amount by which the unpaid rent for the balance of the Term after the time of award exceeds the amount of rental loss that Lessee proves could be reasonably avoided, and (j) The Lessor shall have the right to recover from Lessee any and all of the following. Any other amount necessary to compensate Lessor for all the detriment proximately caused by Lessee's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, but not limited to, any attorneys' fees. broker's commissions or finder's fees (not only in connection with the reletting of the Premises, but also that portion of any leasing commission paid by Lessor in connection with this Lease which is applicable to that portion of the Term which is unexpired as of the date on which this Lease is terminated); the then unamortized cost of any Lessee impravements constructed for or on behalf of Lessee by or at the expense of Lessor or of any moving allowance or other concession made available to Lessee and/or paid by Lessor pursuant to this Lease; any costs for repairs, clean-up, refurbishing, removal (including the repair of any damage caused by such removal) and storage (or disposal) of Lessee's personal property, equipment, fixtures, and anything else that Lessee is required (under this Lease) to remove but does not remove, any costs for alterations, additions and renovations; and any other costs and expenses, including reasonable attorneys' fees and costs incurred by Lessor in regaining possession of and reletting (or attempting to relet) the Premises. (k) Nothing herein contained shall limit or prejudice the right of the Lessor to prove for and obtain as damages by reason of such termination an amount equal to the maximum allowed by law, whether or not such amount be greater, equal to, or less than the amount of the difference referred to above; (l) If the net pros of any reletting of the premises after deductions exceeds the amount due under this Lease, any excess shall belong to Lessor and Lessee shall have no claim to the same; (m) The remedies of the Lessor are, at Lessor's option, cumulative and not in the alternative. The remedies set forth herein shall not limit anv other remedies to which the Lessor may be entitled (n) Nothing in this Lease shall be construed as relieving Lessor of any duty which it may have under laws to mitigate its damages in connection with any default or breach on the part of Lessee or as allowing Lessor to recover any damages which could have been reasonably mitigated. In exercising its rights and remedies under this Lease in response to a default or breach on the part of Lessee, Lessor shall, in every instance, be required to act reasonably and in accordance with prudent business practices.
Appears in 1 contract
Samples: Lease Agreement (nCoat, Inc.)
LESSOR'S RIGHTS UPON DEFAULT. (a) If the Lessor notifies the ----------------------------- Lessee shall fail in writing that it is in default under this agreement, and the Lessee fails to remedy any cure the default of Lessee within the cure periodrequired number of days after it receives such written notice, if any, as provided for in Section 12 hereof, then this Lease may be terminated at Lessor's option by ,written notice to Lessee:
(b) Upon default of Lessee that is not cured within the applicable cure period, Lessee shall peacefully surrender the premises to Lessor and Lessor upon or at any time after such default may, without making further noticenotice or demand upon the Lessee, re-enter the premises and repossess it by take any and or all lawful means and may dispossess Lessee and remove Lessee and all other persons and property from the premises and may have, hold and enjoy the premises and the right to receive all rental income therefrom. Lessor's obtaining possession of the premises shall not be a termination of the Lease unless lessor gives written notice to Lessee of its election to terminate this Lease.
(c) At any time after the default of Lessee that is not cured within the applicable cure period Lessor may re-let the premises or any part thereof, in the name of Lessor, for such term which may be greater or less than the period which would otherwise have constituted the balance of the Term and on such conditions which may include concession, free rent_ or less rent than Lessee is required to pay, as the Lessor, in its reasonable discretion, may determine, and may collect and receive the rent therefrom;
(d) Lessor shall in no way be responsible or liable for any failure to re-let the premises or any part thereof, or for any failure to collect any rent due upon such re- letting;
(e) No entry, possession or relenting of the premises shall be deemed a termination of this Lease nor shall it be considered a release of any of Lessee's liability under the lease;
(f) No termination of this Lease resulting from Xxx'x default shall relieve the Lessee of its liability and obligations under this Lease (whether those obligations arise or become due before the date of termination or afterward), and such liability and obligations shall survive any such termination :
(g) In the event of default by Lessee (whether or not this Lease has been terminated and whether or not the premises or any part thereof shall have been re-let). Lessee shall pay to lessor the rent, additional rent, and all other charges required to be paid by Lessee up to the time of such termination, and thereafter Lessee, until the end of what would have been the Term shall be liable to Lessor for, and shall pay to Lessor, as and for agreed "current damages" for Lessee's default:
1. The equivalent of the amount of the rent and additional rent which would be payable under this Lease by the Lessee if this Lease were still in effect, less
2. The net proceeds of any re-letting of the premises effected after deducting all the Lessor's reasonable expenses in connection with such re-letting including, without limitation, all repossession costs, brokerage commissions, legal expenses and reasonable attorney's fees;
(h) Lessee shall pay such "current damages", herein called deficiency, to Lessor monthly on the days on which the rent and additional rent would have been payable under this Lease if this Lease were still in effect. and as such deficiency shall arisefollowing actions:
(i) Alternatively Notify the Lessee that this lease has been terminated.
(ii) Require the Lessee to paragraph deliver possession of the Premises and if the Lessee fails or refuses to deliver possession of the Premises, to enter and take possession of the Premises, to remove the property and personnel of the Lessee from the Premises at the expense of the Lessee and to store the property in any reasonable manner and place selected by the Lessor at the expense of the Lessee
(g)iii) Terminate this lease and thereafter hold, renovate, or dispose of the Premises or any part of the Premises on any terms selected by the Lessor, free and clear of any rights of the Lessee and without any duty to account to the Lessee for any proceeds of such use.
(iv) Relet the Premises in any commercially reasonable manner, and apply the proceeds of such reletting, after deducting all costs and expenses incurred in connection with retaking possession of, remodeling, and reletting the Premises, in payment of the Lessee's obligations under this agreement, with the Lessee remaining responsible for any deficiency.
(v) If the Lessee's default consists of failure to obtain, maintain or pay for any of the insurance policies which this agreement requires it to maintain, or failure to pay any tax, assessment, or other charge which this agreement requires it to pay, or failure to keep the Premises free from liens, levies and encumbrances, or failure to indemnify the Lessor against any claim, action, damage, loss, injury, demand, liability, cost or expense, the Lessor shall have the right right, but not be obligated, to recover from take that action itself, and to xxxx the Lessee for the worth costs of taking that action. If the Lessee fails to pay such costs with the next payment due under this lease, the Lessee agrees to pay late charges on those costs at the time of award of the amount by which the unpaid rent rate provided for the balance of the Term after the time of award exceeds the amount of rental loss that Lessee proves could be reasonably avoided, andin this agreement.
(jvi) The Lessor shall have the right to recover from Lessee Pursue any and all of the following. Any other amount necessary to compensate Lessor for all the detriment proximately caused by Lessee's failure to perform its obligations under this Lease rights or which in the ordinary course of things would be likely to result therefrom, including, but not limited to, any attorneys' fees. broker's commissions or finder's fees (not only in connection with the reletting of the Premises, but also that portion of any leasing commission paid by Lessor in connection with this Lease which is applicable to that portion of the Term which is unexpired as of the date on which this Lease is terminated); the then unamortized cost of any Lessee impravements constructed for or on behalf of Lessee by or at the expense of Lessor or of any moving allowance or other concession made remedies available to Lessee and/or paid by Lessor pursuant to this Lease; any costs for repairs, clean-up, refurbishing, removal (including the repair of any damage caused by such removal) and storage (or disposal) of Lessee's personal property, equipment, fixtures, and anything else that Lessee is required (under this Lease) to remove but does not remove, any costs for alterations, additions and renovations; and any other costs and expenses, including reasonable attorneys' fees and costs incurred by Lessor in regaining possession of and reletting (or attempting to relet) the Premises.
(k) Nothing herein contained shall limit or prejudice the right of the Lessor to prove for and obtain as damages by reason of such termination an amount equal to the maximum allowed by law, whether at law or not such amount be greater, equal to, or less than the amount of the difference referred to above;
(l) If the net pros of any reletting of the premises after deductions exceeds the amount due under this Lease, any excess shall belong to Lessor and Lessee shall have no claim to the same;
(m) The remedies of the Lessor are, at Lessor's option, cumulative and not in the alternative. The remedies set forth herein shall not limit anv other remedies to which the Lessor may be entitled
(n) Nothing in this Lease shall be construed as relieving Lessor of any duty which it may have under laws to mitigate its damages in connection with any default or breach on the part of Lessee or as allowing Lessor to recover any damages which could have been reasonably mitigated. In exercising its rights and remedies under this Lease in response to a default or breach on the part of Lessee, Lessor shall, in every instance, be required to act reasonably and in accordance with prudent business practicesequity.
Appears in 1 contract
Samples: Agreement and Plan of Reorganization (Photocomm Inc)
LESSOR'S RIGHTS UPON DEFAULT. (a) If the Lessor notifies the Lessee shall fail in writing that it is in default under this Agreement, and the Lessee fails to remedy any cure or reasonably commence corrective action to cure the default of Lessee within the cure periodtime set forth in the notice, if any, as provided for in Section 12 hereof, then this Lease may be terminated at Lessor's option by ,written notice to Lessee:
(b) Upon default of Lessee that is not cured within the applicable cure period, Lessee shall peacefully surrender the premises to Lessor and Lessor upon or at any time after such default may, without making further noticenotice or demand upon the Lessee, re-enter but subject to the premises and repossess it by LCA, exercise any and or all lawful means and may dispossess of the following actions:
a. Leave this Agreement in effect, permit the Lessee and remove Lessee and all other persons and property from the premises and may have, hold and enjoy the premises and the right to receive all rental income therefrom. Lessor's obtaining remain in possession of the premises shall not be a termination of the Lease unless lessor gives written notice to Lessee of its election to terminate this Lease.
(c) At any time after the default of Lessee that is not cured within the applicable cure period Lessor may re-let the premises or any part thereof, in the name of Lessor, for such term which may be greater or less than the period which would otherwise have constituted the balance of the Term and on such conditions which may include concession, free rent_ or less rent than Lessee is required to pay, as the Lessor, in its reasonable discretion, may determinePremises, and may collect and receive the rent therefrom;
(d) Lessor shall in no way be responsible bring an action or liable for any failure to re-let the premises or any part thereof, or for any failure to collect any rent due upon such re- letting;
(e) No entry, possession or relenting of the premises shall be deemed a termination of this Lease nor shall it be considered a release of any of Lessee's liability under the lease;
(f) No termination of this Lease resulting from Xxx'x default shall relieve actions against the Lessee of its liability and obligations under this Lease (whether those obligations arise or become due before to recover the date of termination or afterward), and such liability and obligations shall survive any such termination :
(g) In the event of default by Lessee (whether or not this Lease has been terminated and whether or not the premises or any part thereof shall have been re-let). Lessee shall pay to lessor the rent, additional rent, and all other charges required to be paid by Lessee up to the time of such termination, and thereafter Lessee, until the end of what would have been the Term shall be liable to Lessor for, and shall pay to Lessor, as and for agreed "current damages" for Lessee's default:
1. The equivalent of the amount of the rent and additional rent which would be payable under this Lease amounts owed by the Lessee if this Lease were still in effect, less
2. The net proceeds of any re-letting of the premises effected after deducting all the Lessor's reasonable expenses in connection with such re-letting including, without limitation, all repossession costs, brokerage commissions, legal expenses and reasonable attorney's fees;
(h) Lessee shall pay such "current damages", herein called deficiency, to Lessor monthly on the days on which the rent and additional rent would have been payable under this Lease if this Lease were still in effect. Agreement as they become due, and as such deficiency shall arise:
(i) Alternatively to paragraph (g), Lessor shall have the right to recover from Lessee the worth at the time of award of the amount by which the unpaid rent for the balance of the Term after the time of award exceeds the amount of rental loss that Lessee proves could be reasonably avoided, and
(j) The Lessor shall have the right to recover from Lessee any and all of the following. Any other amount amounts necessary to compensate the Lessor for all the detriment proximately caused by the Lessee's failure to perform its obligations under this Lease Agreement. The abandonment of the Premises by the Lessee will not reduce or which eliminate the Lessee’s obligations under this Agreement.
b. Notify the Lessee in writing that the ordinary course Agreement is terminated, and demand that the Lessee immediately relinquish possession of things would be likely the Premises. The Lessor may take this action either as an alternative to result therefrom, including, but or subsequent to exercising the remedies set forth in subsection (a) of this paragraph. If the Lessee does not limited to, any attorneys' fees. broker's commissions or finder's fees (not only in connection with the reletting relinquish possession of the Premises, but also that portion of any leasing commission paid by the Lessor in connection with this Lease which is applicable to that portion may enter and take possession of the Term which is unexpired as Premises, may remove the property and personnel of the date on which this Lease is terminated); Lessee from the then unamortized cost of any Lessee impravements constructed for or on behalf of Lessee by or Premises at the expense of the Lessee, and may store the Lessee’s personal property in any reasonable manner and place selected by the Lessor, without liability for any physical damage or financial loss that may be caused to the Lessee by such removal. The Lessee agrees to reimburse the Lessor or for all expenses of any moving allowance or other concession made available to Lessee and/or paid by Lessor pursuant to this Lease; any costs for repairs, clean-up, refurbishing, removal (including the repair of any and all damage caused by such removal) the repossession of the Premises and the removal and storage (of the Lessee’s property.
c. Hold, renovate, or disposal) dispose of Lessee's personal propertythe Premises or any part of the Premises on any terms selected by the Lessor, equipment, fixtures, free and anything else that clear of any rights of the Lessee is required (under this Lease) and without any duty to remove but does not remove, account to the Lessee for any costs for alterations, additions and renovations; and any other costs and expenses, including reasonable attorneys' fees and costs incurred by Lessor in regaining possession proceeds of and reletting (or attempting to relet) the use of the Premises.
(k) Nothing herein contained shall limit or prejudice d. Relet the right of Premises in any commercially reasonable manner, and apply the Lessor to prove for proceeds, after deducting all costs and obtain as damages by reason of such termination an amount equal to the maximum allowed by law, whether or not such amount be greater, equal to, or less than the amount of the difference referred to above;
(l) If the net pros of any reletting of the premises after deductions exceeds the amount due under this Lease, any excess shall belong to Lessor and Lessee shall have no claim to the same;
(m) The remedies of the Lessor are, at Lessor's option, cumulative and not in the alternative. The remedies set forth herein shall not limit anv other remedies to which the Lessor may be entitled
(n) Nothing in this Lease shall be construed as relieving Lessor of any duty which it may have under laws to mitigate its damages expenses incurred in connection with any default or breach on retaking possession of, remodeling, and reletting the part Premises, in payment of Lessee or as allowing Lessor to recover any damages which could have been reasonably mitigated. In exercising its rights and remedies the Lessee's obligations under this Lease in response Agreement, with the Lessee remaining responsible for any deficiency.
e. If Xxxxxx's default consists of failure to a default obtain, maintain or breach on pay for any of the part insurance policies which this Agreement requires it to maintain, or failure to pay any tax, assessment, or other charge which this Agreement requires it to pay, or failure to keep the Premises free from liens, levies and encumbrances, or failure to indemnify the Lessor against any claim, action, damage, loss, injury, demand, liability, cost or expense, the Lessor will have the right, but not be obligated, to take that action itself, and to bill the Lessee for the costs of Lessee, Lessor shall, in every instance, be required to act reasonably and in accordance with prudent business practicestaking that action.
Appears in 1 contract
LESSOR'S RIGHTS UPON DEFAULT. (a) a. If Lessee shall fail to remedy any default of Lessee within the cure notice period, if any, as provided for in Section paragraph 12 hereof, then this Lease may be terminated at Lessor's option by ,written notice to Lessee:option;
(b) b. Upon default of Lessee that is not cured within the applicable cure periodLessee, the Lessee shall peacefully surrender the premises to the Lessor and the Lessor upon or at any time after such default may, without further notice, re-enter the premises and repossess it by any and all lawful means and may dispossess the Lessee and remove the Lessee and all other persons and property from the premises and may have, hold and enjoy the premises and the right to receive all rental income therefrom. Lessor's obtaining possession of the premises shall not be a termination of the Lease lease unless lessor Lessor gives written notice to Lessee of its election to terminate this Lease.the lease;
(c) c. At any time after either the default of Lessee that (and notice thereof is not cured within given to Lessee if required by paragraph 12 hereof) or at any time after a termination of this Lease, the applicable cure period Lessor may re-let the premises or any part thereof, in the name of LessorLessor or otherwise, for such term which may be greater or less than the period which would otherwise have constituted the balance of the Term term of this Lease and on such conditions which may include concession, free rent_ , or less rent than Lessee is required to pay, as the Lessor, in its reasonable sole discretion, may determine, and may collect and receive the rent therefrom;
(d) d. The Lessor shall in no way be responsible or liable for any failure to re-let the premises leased property or any part thereof, or for any failure to collect any rent due upon such re- re-letting;
(e) e. No entry, possession or relenting reletting of the premises shall be deemed a termination of this Lease nor shall it be considered a release release, of any of Lessee's liability under the lease;
(f) f. No termination of this Lease resulting from Xxx'x Lessee's default shall relieve the Lessee of its liability and obligations under this Lease (whether those obligations arise or become due before the date of termination or afterward), and such liability and obligations shall survive any such termination :termination.
(g) g. In the event of default by Lessee Lessee, (whether or not this Lease the lease has been terminated and whether or not the premises leased property or any part thereof shall have been re-let). ) the Lessee shall pay to lessor the rentLessor the Rent, additional rentAdditional Rent, common area expenses, and all other charges required to be paid by the Lessee up to the time of such termination, and thereafter the Lessee, until the end of what would have been the Term term of this Lease shall be liable to the Lessor for, and shall pay to the Lessor, as and for agreed "current damages" for the Lessee's default:
1. The equivalent of the amount of the rent Rent and additional rent Additional Rent which would be payable under this Lease by the Lessee if this Lease lease were still in effect, less
2. The net proceeds of any re-letting of the premises effected after deducting all the Lessor's reasonable expenses in connection with such re-letting letting, including, without limitation, all repossession costs, brokerage commissions, legal expenses and reasonable attorney's fees;
(h) h. The Lessee shall pay such "current damages", herein called deficiency, to the Lessor monthly on the days on which the rent and additional rent would have been payable under this Lease lease if this Lease lease were still in effect. , and as such deficiency shall arise:;
(i) Alternatively to paragraph (g), i. Lessor shall have the right to recover from Lessee any and all of the following:
1. The worth at the time of award of the unpaid rent which had been earned at the time of termination;
2. The worth at the time of award of the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of such rental loss that Lessee proves could have been reasonably avoided;
3. The worth at the time of award of the amount by which the unpaid rent for the balance of the Term term after the time of award exceeds the amount of rental loss that Lessee proves could be reasonably avoided, ; and
(j) The Lessor shall have the right to recover from Lessee any and all of the following4. Any other amount necessary to compensate Lessor for all the detriment proximately caused by Lessee's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, but not limited to, any attorneys' fees. , broker's commissions or finder's fees (not only in connection with the reletting of the Premises, but also that portion of any leasing commission paid by Lessor in connection with this Lease which is applicable to that portion of the Term which is unexpired as of the date on which this Lease is terminated); the then unamortized cost of any Lessee impravements improvements constructed for or on behalf of Lessee by or at the expense of Lessor or of any moving allowance or other concession made available to Lessee and/or paid by Lessor pursuant to this Lease; any costs for repairs, clean-up, refurbishing, removal (including the repair of any damage caused by such removal) and storage (or disposal) of Lessee's personal property, equipment, fixtures, and anything else that Lessee is required (under this Lease) to remove but does not remove, ; any costs for alterations, additions and renovations; and any other costs and expenses, including reasonable attorneys' fees and costs incurred by Lessor in regaining possession of and reletting (or attempting to relet) the Premises.
(k) Nothing herein contained shall limit or prejudice the right of the Lessor to prove for and obtain as damages by reason of such termination an amount equal to the maximum allowed by law, whether or not such amount be greater, equal to, or less than the amount of the difference referred to above;
(l) If the net pros of any reletting of the premises after deductions exceeds the amount due under this Lease, any excess shall belong to Lessor and Lessee shall have no claim to the same;
(m) The remedies of the Lessor are, at Lessor's option, cumulative and not in the alternative. The remedies set forth herein shall not limit anv other remedies to which the Lessor may be entitled
(n) Nothing in this Lease shall be construed as relieving Lessor of any duty which it may have under laws to mitigate its damages in connection with any default or breach on the part of Lessee or as allowing Lessor to recover any damages which could have been reasonably mitigated. In exercising its rights and remedies under this Lease in response to a default or breach on the part of Lessee, Lessor shall, in every instance, be required to act reasonably and in accordance with prudent business practices.
Appears in 1 contract
Samples: Lease Agreement (BSD Medical Corp)
LESSOR'S RIGHTS UPON DEFAULT. If the Premises shall be deserted or vacated for more than seven (a7) If consecutive days (which in any event Lessee covenants that the insurance herein provided shall fail to remedy be maintained in full force and effect) or if bankruptcy or insolvency proceedings are commenced against or by Lessee in any default court, or if proceedings are commenced for the appointment of Lessee within the cure perioda Trustee or Receiver of Lessee's property, or if any, as provided for in Section 12 hereof, then this Lease may be terminated at Lessor's option by ,written notice to Lessee:
(b) Upon default of Lessee that is not cured within the applicable cure period, Lessee there shall peacefully surrender the premises to Lessor and Lessor upon or at any time after such default may, without further notice, re-enter the premises and repossess it by any and all lawful means and may dispossess Lessee and remove Lessee and all other persons and property from the premises and may have, hold and enjoy the premises and the right to receive all rental income therefrom. Lessor's obtaining possession of the premises shall not be a termination of the Lease unless lessor gives written notice to Lessee of its election to terminate this Lease.
(c) At any time after the default of Lessee that is not cured within the applicable cure period Lessor may re-let the premises or any part thereof, in the name payment of Lessor, for such term which may be greater or less than the period which would otherwise have constituted the balance of the Term and on such conditions which may include concession, free rent_ or less rent than Lessee is required to pay, as the Lessor, in its reasonable discretion, may determine, and may collect and receive the rent therefrom;
(d) Lessor shall in no way be responsible or liable for any failure to re-let the premises or any part thereof, or other payment due hereunder, for any failure more than ten (10) days after written notice of such default is given by Lessor to collect any rent due upon such re- letting;
(e) No entryLessee, possession or relenting of the premises if there shall be deemed a termination default in the performance of any other covenant, agreement or condition herein contained on the part of Lessee for more than thirty (30) days after written notice by Lessor, this Lease nor shall it thereupon be considered a release of any of Lesseeterminated at Lessor's liability under the lease;
(f) No termination of this Lease resulting from Xxx'x default shall relieve the Lessee of its liability and obligations under this Lease (whether those obligations arise or become due before the date of termination or afterward)option, and such liability and obligations shall survive any such termination :
(g) In the event of default by Lessee (whether or not this Lease has been terminated and whether or not the premises or any part thereof shall have been re-let). Lessee shall pay to lessor the rent, additional rent, and all other charges required to be paid by Lessee up to the time of such termination, and thereafter Lessee, until the end of what would have been the Term shall be liable to Lessor for, and shall pay to Lessor, as and for agreed "current damages" for Lessee's default:
1. The equivalent of the amount of the rent and additional rent which would be payable under this Lease by the Lessee if this Lease were still in effect, less
2. The net proceeds of any re-letting of the premises effected after deducting all the Lessor's reasonable expenses in connection with such re-letting including, without limitation, all repossession costs, brokerage commissions, legal expenses and reasonable attorney's fees;
(h) Lessee shall pay such "current damages", herein called deficiency, to Lessor monthly on the days on which the rent and additional rent would have been payable under this Lease if this Lease were still in effect. and as such deficiency shall arise:
(i) Alternatively to paragraph (g), Lessor shall have the right to recover from Lessee re-enter or repossess the worth at the time of award of the amount by which the unpaid rent for the balance of the Term after the time of award exceeds the amount of rental loss that Lessee proves could be reasonably avoidedPremises and dispossess and remove therefrom Lessee, and
(j) The Lessor shall have the right to recover from Lessee any and all of the following. Any other amount necessary to compensate Lessor for all the detriment proximately caused by Lessee's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, but not limited to, any attorneys' fees. broker's commissions or finder's fees (not only in connection with the reletting of the Premises, but also that portion of any leasing commission paid by Lessor in connection with this Lease which is applicable to that portion of the Term which is unexpired as of the date on which this Lease is terminated); the then unamortized cost of any Lessee impravements constructed for or on behalf of Lessee by or at the expense of Lessor or of any moving allowance or other concession made available to Lessee and/or paid by Lessor pursuant to this Lease; any costs for repairs, clean-up, refurbishing, removal (including the repair of any damage caused by such removal) and storage (or disposal) of Lessee's personal property, equipment, fixturesoccupants thereof, and anything else that Lessee is required (under this Lease) to remove but does not removetheir effects, without being liable for any costs for alterationsprosecution therefor. In such case, additions and renovations; and any other costs and expenses, including reasonable attorneys' fees and costs incurred by Lessor in regaining possession of and reletting (or attempting to relet) the Premises.
(k) Nothing herein contained shall limit or prejudice the right of the Lessor to prove for and obtain as damages by reason of such termination an amount equal to the maximum allowed by law, whether or not such amount be greater, equal to, or less than the amount of the difference referred to above;
(l) If the net pros of any reletting of the premises after deductions exceeds the amount due under this Lease, any excess shall belong to Lessor and Lessee shall have no claim to the same;
(m) The remedies of the Lessor aremay, at Lessor's option, cumulative and not in relet the alternative. The remedies set forth herein shall not limit anv other remedies to which Premises or any part thereof, as the Lessor may be entitled
(n) Nothing in this Lease shall be construed as relieving Lessor of any duty which it may have under laws to mitigate its damages in connection with any default or breach on the part of Lessee or as allowing Lessor to recover any damages which could have been reasonably mitigated. In exercising its rights and remedies under this Lease in response to a default or breach on the part agent of Lessee, Lessor shalland Lessee shall pay the difference between the rent and other costs and charges herein reserved and agreed to be paid by Lessee for the portion of the term remaining at the time of re-entry or repossession and the amount, if any, received or to be received under such reletting for such portion of the term. Should this Lease be placed in every instancethe hands of an attorney for default or breach, be required or for the enforcement of any rights herein reserved or stipulated, Lessee agrees to act reasonably and in accordance with prudent business practicespay all costs incident thereto, including reasonable attorneys' fees.
Appears in 1 contract
Samples: Lease Agreement (Colorsmart Com Inc)
LESSOR'S RIGHTS UPON DEFAULT. That if the Tenant shall default in any manner including the below:
A. In the payment of the rental reserved herein and such default shall continue for ten (a10) days after notice in writing in the manner hereinafter provided, or
B. In the observance and performance of any of the other terms, covenants and conditions of this lease, and such default shall continue for thirty (30) days after such notice, or the Tenant shall have failed to commence the rectification of such default within thirty (30) days after such notice and to diligently prosecute the same where the same cannot be completed within thirty (30) days, or
C. If Lessee a petition to recognize the Tenant or for an arrangement of its unsecured debts shall fail to remedy any default be filed, or
D. If the Tenant shall be adjudicated a bankrupt, or
E. If a receiver of Lessee within Trustee of the cure periodTenant's Property be appointed by a Court, if anyor
F. If the Tenant shall make a general assignment for the benefit of creditors, as provided for or
G. If all interest of the Tenant in Section 12 hereofits property shall be taken by garnishment, attachment, execution or other process of law, or
H. If the leased premises shall be abandoned, then this Lease may and in any such events, it shall be terminated at Lessor's option by ,written notice to Lesseelawful for the Lessor to:
(b) Upon default of Lessee that is not cured within the applicable cure period1. Immediately, Lessee shall peacefully surrender the premises to Lessor and Lessor upon or at any time after such default maythereafter, without further notice, re-enter the premises and repossess it by any and all lawful means and may dispossess Lessee and remove Lessee and all other persons and property from the premises and may have, hold and enjoy the premises and the right to receive all rental income therefrom. Lessor's obtaining possession of the premises shall not be a termination of the Lease unless lessor gives written notice to Lessee of its election Tenant, to terminate this Lease.
(c) At any time after the default of Lessee that is not cured within the applicable cure period Lessor may re-let the premises re- enter into or any part thereof, in the name of Lessor, for such term which may be greater or less than the period which would otherwise have constituted the balance of the Term and on such conditions which may include concession, free rent_ or less rent than Lessee is required to pay, as the Lessor, in its reasonable discretion, may determine, and may collect and receive the rent therefrom;
(d) Lessor shall in no way be responsible or liable for any failure to re-let the premises or any part thereof, or for any failure to collect any rent due upon such re- letting;
(e) No entry, possession or relenting of the premises shall be deemed a termination of this Lease nor shall it be considered a release of any of Lessee's liability under the lease;
(f) No termination of this Lease resulting from Xxx'x default shall relieve the Lessee of its liability and obligations under this Lease (whether those obligations arise or become due before the date of termination or afterward), and such liability and obligations shall survive any such termination :
(g) In the event of default by Lessee (whether or not this Lease has been terminated and whether or not the said premises or any part thereof shall have been and take possession of the same fully and absolutely without such re-let). Lessee shall pay to lessor entry working a forfeiture of the rent, additional rent, and all rents or other charges required to be paid and of the covenants, terms and conditions to be performed by Lessee up the Tenant for the full term of this lease, and in the event of such re-entry the lessor may proceed for the collection of the rents or other charges to be paid under this lease or for the time properly measured damages and for the collection of its reasonable attorneys' fees; or
2. Lessor may at its election terminate this lease upon written notice in the manner hereinafter provided and re-enter said premises as of its former estate therein and the Tenant covenants in case of such termination to indemnify the lessor against all loss of rents and expense which the Lessor has suffered or paid by reason of such termination, and thereafter Lessee, until during the end of what would have been the Term shall be liable to Lessor for, and shall pay to Lessor, as and for agreed "current damages" for Lessee's default:
1. The equivalent residue of the amount of the rent and additional rent which would be payable under this Lease by the Lessee if this Lease were still in effect, lessterm; or
23. The net proceeds of any re-letting of the premises effected after deducting all the Lessor's reasonable expenses in connection with such re-letting including, without limitation, all repossession costs, brokerage commissions, legal expenses and reasonable attorney's fees;
(h) Lessee shall pay such "current damages", herein called deficiency, to Lessor monthly on the days on which the rent and additional rent would have been payable under this Lease if this Lease were still in effect. and as such deficiency shall arise:
(i) Alternatively to paragraph (g), Lessor shall have the right to recover from Lessee the worth at the time of award of the amount by which the unpaid rent for the balance of the Term after the time of award exceeds the amount of rental loss that Lessee proves could be reasonably avoided, and
(j) The Lessor shall further have all other rights and remedies including injunctive relief, ejectment or summary proceedings in the right to recover from Lessee unlawful detainer, and any or all legal remedies, actions and proceedings and all of the following. Any other amount necessary such shall be cumulative and provided further that Lessor shall be entitled to compensate Lessor for all the detriment proximately caused by Lessee's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, but not limited to, any reasonable attorneys' fees. broker's commissions or finder's fees (not only incurred in connection with the reletting of the Premises, but also that portion institution of any leasing commission paid by Lessor in connection with this Lease which is applicable to that portion of the Term which is unexpired as of the date on which this Lease is terminated); the then unamortized cost of any Lessee impravements constructed for or on behalf of Lessee by or at the expense of Lessor or of any moving allowance or other concession made available to Lessee and/or paid by Lessor pursuant to this Lease; any costs for repairs, clean-up, refurbishing, removal (including the repair of any damage caused by such removal) and storage (or disposal) of Lessee's personal property, equipment, fixtures, and anything else that Lessee is required (under this Lease) to remove but does not remove, any costs for alterations, additions and renovations; and any other costs and expenses, including reasonable attorneys' fees and costs incurred by Lessor in regaining possession of and reletting (or attempting to relet) the Premisesproceedings.
(k) Nothing herein contained shall limit or prejudice the right of the Lessor to prove for and obtain as damages by reason of such termination an amount equal to the maximum allowed by law, whether or not such amount be greater, equal to, or less than the amount of the difference referred to above;
(l) If the net pros of any reletting of the premises after deductions exceeds the amount due under this Lease, any excess shall belong to Lessor and Lessee shall have no claim to the same;
(m) The remedies of the Lessor are, at Lessor's option, cumulative and not in the alternative. The remedies set forth herein shall not limit anv other remedies to which the Lessor may be entitled
(n) Nothing in this Lease shall be construed as relieving Lessor of any duty which it may have under laws to mitigate its damages in connection with any default or breach on the part of Lessee or as allowing Lessor to recover any damages which could have been reasonably mitigated. In exercising its rights and remedies under this Lease in response to a default or breach on the part of Lessee, Lessor shall, in every instance, be required to act reasonably and in accordance with prudent business practices.
Appears in 1 contract
Samples: Airport Property Lease
LESSOR'S RIGHTS UPON DEFAULT. (a) If Lessee shall fail to remedy any default of Lessee within the cure period, if any, as provided for in Section 12 hereof, then this Lease may be terminated at Lessor's option by ,written notice to Lessee:
(b) Upon default of Lessee that is not cured within the applicable cure period, Lessee shall peacefully surrender the premises to Lessor and Lessor upon or at any time after such default may, without further notice, re-enter the premises and repossess it by any and all lawful means and may dispossess Lessee and remove Lessee and all other persons and property from the premises and may have, hold and enjoy the premises and the right to receive all rental income therefrom. Lessor's obtaining possession of the premises shall not be a termination of the Lease unless lessor gives written notice to Lessee of its election to terminate this Lease.
(c) At any time after the default of Lessee that is not cured within the applicable cure period Lessor may re-let the premises or any part thereof, in the name of Lessor, for such term which may be greater or less than the period which would otherwise have constituted the balance of the Term and on such conditions which may include concession, free rent_ or less rent than Lessee is required to pay, as the Lessor, in its reasonable discretion, may determine, and may collect and receive the rent therefrom;
(d) Lessor shall in no way be responsible or liable for any failure to re-let the premises or any part thereof, or for any failure to collect any rent due upon such re- letting;
(e) No entry, possession or relenting of the premises shall be deemed a termination of this Lease nor shall it be considered a release of any of Lessee's liability under the lease;
(f) No termination of this Lease resulting from Xxx'x default shall relieve the Lessee of its liability and obligations under this Lease (whether those obligations arise or become due before the date of termination or afterward), and such liability and obligations shall survive any such termination :
(g) In the an event of default by Lessee (whether or not this Lease has been terminated and whether or not Default occurs, the premises or any part thereof shall have been re-let). Lessee shall pay to lessor the rent, additional rent, and all other charges required to be paid by Lessee up to the time of such termination, and thereafter Lessee, until the end of what would have been the Term shall be liable to Lessor for, and shall pay to Lessor, as and for agreed "current damages" for Lessee's default:
1. The equivalent of the amount of the rent and additional rent which would be payable under this Lease by the Lessee if this Lease were still in effect, less
2. The net proceeds of any re-letting of the premises effected after deducting all the Lessor's reasonable expenses in connection with such re-letting including, without limitation, all repossession costs, brokerage commissions, legal expenses and reasonable attorney's fees;
(h) Lessee shall pay such "current damages", herein called deficiency, to Lessor monthly on the days on which the rent and additional rent would have been payable under this Lease if this Lease were still in effect. and as such deficiency shall arise:
(i) Alternatively to paragraph (g), Lessor shall have the right to recover from exercise any one or more of the following remedies:
A. To terminate this Lease.
B. To declare the entire amount of rent and other sums due Lessor under this Lease for its entire term immediately due and payable.
C. To take possession of the Equipment without demand or notice wherever the same may be located without any court order or process of law. Lessee hereby waives any damages occasioned by such taking of possession. Any taking of possession shall not constitute a termination of this Lease unless Lessor expressly notifies Lessee in writing.
D. To require Lessee to purchase the worth Equipment. If requested by Lessor, Lessee shall purchase the Equipment for cash at a price determined by multiplying the monthly rental by the number of months remaining in the Base Lease Term, adding thereto any delinquent rentals, the residual value (as set forth in Paragraph 15) of the Equipment computed as of the monthly rent payment date next succeeding the date of Default, any prepaid expenses incurred by Lessor, including but not limited to license fees, sales or use tax, insurance premiums or other amounts owing by Lessee to Lessor, and subtracting therefrom any unearned leasing charges. If Lessee fails to purchase the Equipment upon Lessor's request, Lessor may re-lease or sell the Equipment. If sold, the sale may be public or private and may be at wholesale to a dealer. If the net proceeds of sale (gross proceeds less expenses of Lessor in preparing and holding the Equipment for disposition) and all expenses of disposition are less than the amount owing as determined in this subparagraph 18 (d), such deficiency shall constitute part of Lessor's damages and be forthwith paid by Lessee. If the Equipment is re-leased and the wholesale value of the Equipment at the time of award of re- lease is less than the amount owing as determined herein, such deficiency shall constitute a part of Lessor's damages and be forthwith paid by which Lessee.
X. Xxxxxx may, at its option, retain the unpaid rent for the balance Equipment in lieu of the Term after the time of award exceeds the amount of rental loss that Lessee proves could be reasonably avoided, and
(j) The Lessor shall have the right to recover from Lessee any and all of the following. Any other amount necessary to compensate Lessor for all the detriment proximately damages caused by Lessee's failure Default . Lessors shall not be deemed to perform its obligations under have exercised this Lease or which in the ordinary course of things would be likely to result therefrom, including, but not limited to, any attorneys' fees. broker's commissions or finder's fees (not only in connection with the reletting of the Premises, but also that portion of any leasing commission paid option unless Lessee is so notified by Lessor in connection with this Lease which is applicable to that portion of the Term which is unexpired as of the date on which this Lease is terminated); the then unamortized cost of any writing.
F. Lessee impravements constructed for or on behalf of Lessee by or at the expense of shall pay Lessor or of any moving allowance or other concession made available to Lessee and/or paid by Lessor pursuant to this Lease; any costs for repairs, clean-up, refurbishing, removal (including the repair of any damage caused by such removal) and storage (or disposal) of Lessee's personal property, equipment, fixtures, and anything else that Lessee is required (under this Lease) to remove but does not remove, any costs for alterations, additions and renovations; and any other all costs and expenses, including reasonable attorneys' 's fees and costs incurred by Lessor in regaining possession exercising any of and reletting (or attempting to relet) the Premises.
(k) Nothing herein contained shall limit or prejudice the right of the Lessor to prove for and obtain as damages by reason of such termination an amount equal to the maximum allowed by law, whether or not such amount be greater, equal to, or less than the amount of the difference referred to above;
(l) If the net pros of any reletting of the premises after deductions exceeds the amount due under this Lease, any excess shall belong to Lessor and Lessee shall have no claim to the same;
(m) The remedies of the Lessor are, at Lessor's option, cumulative and not in the alternative. The remedies set forth herein shall not limit anv other remedies to which the Lessor may be entitled
(n) Nothing in this Lease shall be construed as relieving Lessor of any duty which it may have under laws to mitigate its damages in connection with any default or breach on the part of Lessee or as allowing Lessor to recover any damages which could have been reasonably mitigated. In exercising its rights and or remedies under this Lease Paragraph or in response to a default enforcing any of the terms or breach on the part conditions of Lessee, Lessor shall, this Lease.
X. Xxxxxx may pursue any other remedy provided by law or in every instance, be required to act reasonably and in accordance with prudent business practicesthis Lease.
Appears in 1 contract
LESSOR'S RIGHTS UPON DEFAULT. (a) If Lessee the Tenant shall fail to remedy any default of Lessee within the cure period, if any, as provided for in Section 12 hereof, then this Lease may be terminated at Lessor's option by ,written notice to Lesseemake default:
A. In the payment of the rental reserved herein and such default shall continue for ten (b10) Upon days after notice in writing in the manner hereinafter provided, or
B. In the observance and performance of any of the other terms, covenants and conditions of this lease, and such default shall continue for thirty (30) days after such notice, or the Tenant shall have failed to commence the rectification of Lessee that is such default within thirty (30) days after such notice and to diligently prosecute the same where the same cannot cured be completed within thirty (30) days, or
C. If a petition to recognize the applicable cure periodTenant or for an arrangement of its unsecured debts shall be filed, Lessee or
D. If the Tenant shall peacefully surrender be adjudicated a bankrupt, or
E. If a receiver or trustee of the Tenant’s property be appointed by any Court, or
F. If the Tenant shall make a general assignment for the benefit of creditors, or
G. If all interest of the Tenant in its property shall be taken by garnishment, attachment, execution or other process of law, or
H. If the leased premises to Lessor shall be deserted or vacated. Then and Lessor upon in any such events it shall be lawful for the Lessor:
A. Immediately, or at any time after such default maythereafter, without further noticenotice to Tenant, to re-enter the premises and repossess it by any and all lawful means and may dispossess Lessee and remove Lessee and all other persons and property from the premises and may have, hold and enjoy the premises and the right to receive all rental income therefrom. Lessor's obtaining possession of the premises shall not be a termination of the Lease unless lessor gives written notice to Lessee of its election to terminate this Lease.
(c) At any time after the default of Lessee that is not cured within the applicable cure period Lessor may re-let the premises into or any part thereof, in the name of Lessor, for such term which may be greater or less than the period which would otherwise have constituted the balance of the Term and on such conditions which may include concession, free rent_ or less rent than Lessee is required to pay, as the Lessor, in its reasonable discretion, may determine, and may collect and receive the rent therefrom;
(d) Lessor shall in no way be responsible or liable for any failure to re-let the premises or any part thereof, or for any failure to collect any rent due upon such re- letting;
(e) No entry, possession or relenting of the premises shall be deemed a termination of this Lease nor shall it be considered a release of any of Lessee's liability under the lease;
(f) No termination of this Lease resulting from Xxx'x default shall relieve the Lessee of its liability and obligations under this Lease (whether those obligations arise or become due before the date of termination or afterward), and such liability and obligations shall survive any such termination :
(g) In the event of default by Lessee (whether or not this Lease has been terminated and whether or not the said premises or any part thereof shall have been and take possession of the same fully and absolutely without such re-let). Lessee shall pay to lessor entry working a forfeiture of the rent, additional rent, and all rents or other charges required to be paid and of the covenants, terms, and conditions to be performed by Lessee up the Tenant for the full term of this lease, and in the event of such re-entry the Lessor may proceed for the collection of the rents or other charges to be paid under this lease or for the time properly measured damages and for the collection of its reasonable attorneys fees; or
X. Xxxxxx may at its election terminate this lease upon written notice in the manner hereinafter provided and re-enter said premises as of its former estate therein and the Tenant covenants in case of such termination to indemnify the Lessor against all loss of rents and expense which the Lessor has suffered or paid by reason of such termination, and thereafter Lessee, until during the end of what would have been the Term shall be liable to Lessor for, and shall pay to Lessor, as and for agreed "current damages" for Lessee's default:
1. The equivalent residue of the amount of the rent and additional rent which would be payable under this Lease by the Lessee if this Lease were still in effect, lessterm; or
2. The net proceeds of any re-letting of the premises effected after deducting all the Lessor's reasonable expenses in connection with such re-letting including, without limitation, all repossession costs, brokerage commissions, legal expenses and reasonable attorney's fees;
(h) Lessee shall pay such "current damages", herein called deficiency, to Lessor monthly on the days on which the rent and additional rent would have been payable under this Lease if this Lease were still in effect. and as such deficiency shall arise:
(i) Alternatively to paragraph (g), Lessor shall have the right to recover from Lessee the worth at the time of award of the amount by which the unpaid rent for the balance of the Term after the time of award exceeds the amount of rental loss that Lessee proves could be reasonably avoided, and
(j) C. The Lessor shall further have all other rights and remedies including injunctive relief, ejectment or summary proceedings in the right to recover from Lessee unlawful detainer, and any or all legal remedies, actions and proceedings and all of the following. Any other amount necessary such shall be cumulative and provided further that Lessor shall be entitled to compensate Lessor for all the detriment proximately caused by Lessee's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, but not limited to, any attorneys' fees. broker's commissions or finder's reasonable attorneys fees (not only incurred in connection with the reletting of the Premises, but also that portion institution of any leasing commission paid by Lessor in connection with this Lease which is applicable to that portion of the Term which is unexpired as of the date on which this Lease is terminated); the then unamortized cost of any Lessee impravements constructed for or on behalf of Lessee by or at the expense of Lessor or of any moving allowance or other concession made available to Lessee and/or paid by Lessor pursuant to this Lease; any costs for repairs, clean-up, refurbishing, removal (including the repair of any damage caused by such removal) and storage (or disposal) of Lessee's personal property, equipment, fixtures, and anything else that Lessee is required (under this Lease) to remove but does not remove, any costs for alterations, additions and renovations; and any other costs and expenses, including reasonable attorneys' fees and costs incurred by Lessor in regaining possession of and reletting (or attempting to relet) the Premisesproceedings.
(k) Nothing herein contained shall limit or prejudice the right of the Lessor to prove for and obtain as damages by reason of such termination an amount equal to the maximum allowed by law, whether or not such amount be greater, equal to, or less than the amount of the difference referred to above;
(l) If the net pros of any reletting of the premises after deductions exceeds the amount due under this Lease, any excess shall belong to Lessor and Lessee shall have no claim to the same;
(m) The remedies of the Lessor are, at Lessor's option, cumulative and not in the alternative. The remedies set forth herein shall not limit anv other remedies to which the Lessor may be entitled
(n) Nothing in this Lease shall be construed as relieving Lessor of any duty which it may have under laws to mitigate its damages in connection with any default or breach on the part of Lessee or as allowing Lessor to recover any damages which could have been reasonably mitigated. In exercising its rights and remedies under this Lease in response to a default or breach on the part of Lessee, Lessor shall, in every instance, be required to act reasonably and in accordance with prudent business practices.
Appears in 1 contract
Samples: Commercial Lease
LESSOR'S RIGHTS UPON DEFAULT. (a) If the Lessor notifies the Lessee shall fail in writing that it is in default under this agreement, and the Lessee fails to remedy any cure the default of Lessee within the cure periodrequired number of days after it receives such written notice, if any, as provided for in Section 12 hereof, then this Lease may be terminated at Lessor's option by ,written notice to Lessee:
(b) Upon default of Lessee that is not cured within the applicable cure period, Lessee shall peacefully surrender the premises to Lessor and Lessor upon or at any time after such default may, without making further noticenotice or demand upon the Lessee, re-enter the premises and repossess it by take any and or all lawful means and may dispossess Lessee and remove Lessee and all other persons and property from the premises and may have, hold and enjoy the premises and the right to receive all rental income therefrom. Lessor's obtaining possession of the premises shall not be a termination of the Lease unless lessor gives written notice to Lessee of its election to terminate this Lease.
(c) At any time after the default of Lessee that is not cured within the applicable cure period Lessor may re-let the premises or any part thereof, in the name of Lessor, for such term which may be greater or less than the period which would otherwise have constituted the balance of the Term and on such conditions which may include concession, free rent_ or less rent than Lessee is required to pay, as the Lessor, in its reasonable discretion, may determine, and may collect and receive the rent therefrom;
(d) Lessor shall in no way be responsible or liable for any failure to re-let the premises or any part thereof, or for any failure to collect any rent due upon such re- letting;
(e) No entry, possession or relenting of the premises shall be deemed a termination of this Lease nor shall it be considered a release of any of Lessee's liability under the lease;
(f) No termination of this Lease resulting from Xxx'x default shall relieve the Lessee of its liability and obligations under this Lease (whether those obligations arise or become due before the date of termination or afterward), and such liability and obligations shall survive any such termination :
(g) In the event of default by Lessee (whether or not this Lease has been terminated and whether or not the premises or any part thereof shall have been re-let). Lessee shall pay to lessor the rent, additional rent, and all other charges required to be paid by Lessee up to the time of such termination, and thereafter Lessee, until the end of what would have been the Term shall be liable to Lessor for, and shall pay to Lessor, as and for agreed "current damages" for Lessee's default:
1. The equivalent of the amount of the rent and additional rent which would be payable under this Lease by the Lessee if this Lease were still in effect, less
2. The net proceeds of any re-letting of the premises effected after deducting all the Lessor's reasonable expenses in connection with such re-letting including, without limitation, all repossession costs, brokerage commissions, legal expenses and reasonable attorney's fees;
(h) Lessee shall pay such "current damages", herein called deficiency, to Lessor monthly on the days on which the rent and additional rent would have been payable under this Lease if this Lease were still in effect. and as such deficiency shall arisefollowing actions:
(i) Alternatively Notify the Lessee that this lease has been terminated.
(ii) Require the Lessee to paragraph deliver possession of the Premises and if the Lessee fails or refuses to deliver possession of the Premises, to enter and take possession of the Premises, to remove the property and personnel of the Lessee from the Premises at the expense of the Lessee and to store the property in any reasonable manner and place selected by the Lessor at the expense of the Lessee.
(g)iii) After terminating this lease, hold, renovate, or dispose of the Premises or any part of the Premises on any terms selected by the Lessor, free and clear of any rights of the Lessee and without any duty to account to the Lessee for any proceeds of such use.
(iv) Reenter the Premises without terminating this lease and relet the Premises in any commercially reasonable manner, and apply the proceeds of such reletting, after deducting all costs and expenses incurred in connection with retaking possession of, remodeling, and reletting the Premises, in payment of the Lessee's obligations under this agreement, with the Lessee remaining responsible for any deficiency.
(v) If the Lessee's default consists of failure to obtain, maintain or pay for any of the insurance policies which this agreement requires it to maintain, or failure to pay any tax, assessment, or other charge which this agreement requires it to pay, or failure to keep the Premises free from liens, levies and encumbrances, or failure to indemnity the Lessor against any claim, action, damage, loss, injury, demand, liability, cost or expense, the Lessor shall have the right right, but not be obligated, to recover from take that action itself, and to bill the Lessee for the worth costs of taking that action. If the Lessee fails to pay such costs with the next payment due under this lease, the Lessee agrees to pay late charges on those costs at the time of award of the amount by which the unpaid rent rate provided for the balance of the Term after the time of award exceeds the amount of rental loss that Lessee proves could be reasonably avoided, andin this agreement.
(jvi) The Lessor shall have the right to recover from Lessee Pursue any and all of the following. Any other amount necessary to compensate Lessor for all the detriment proximately caused by Lessee's failure to perform its obligations under this Lease rights or which in the ordinary course of things would be likely to result therefrom, including, but not limited to, any attorneys' fees. broker's commissions or finder's fees (not only in connection with the reletting of the Premises, but also that portion of any leasing commission paid by Lessor in connection with this Lease which is applicable to that portion of the Term which is unexpired as of the date on which this Lease is terminated); the then unamortized cost of any Lessee impravements constructed for or on behalf of Lessee by or at the expense of Lessor or of any moving allowance or other concession made remedies available to Lessee and/or paid by Lessor pursuant to this Lease; any costs for repairs, clean-up, refurbishing, removal (including the repair of any damage caused by such removal) and storage (or disposal) of Lessee's personal property, equipment, fixtures, and anything else that Lessee is required (under this Lease) to remove but does not remove, any costs for alterations, additions and renovations; and any other costs and expenses, including reasonable attorneys' fees and costs incurred by Lessor in regaining possession of and reletting (or attempting to relet) the Premises.
(k) Nothing herein contained shall limit or prejudice the right of the Lessor to prove for and obtain as damages by reason of such termination an amount equal to the maximum allowed by law, whether at law or not such amount be greater, equal to, or less than the amount of the difference referred to above;
(l) If the net pros of any reletting of the premises after deductions exceeds the amount due under this Lease, any excess shall belong to Lessor and Lessee shall have no claim to the same;
(m) The remedies of the Lessor are, at Lessor's option, cumulative and not in the alternative. The remedies set forth herein shall not limit anv other remedies to which the Lessor may be entitled
(n) Nothing in this Lease shall be construed as relieving Lessor of any duty which it may have under laws to mitigate its damages in connection with any default or breach on the part of Lessee or as allowing Lessor to recover any damages which could have been reasonably mitigated. In exercising its rights and remedies under this Lease in response to a default or breach on the part of Lessee, Lessor shall, in every instance, be required to act reasonably and in accordance with prudent business practicesequity.
Appears in 1 contract
Samples: Agreement and Plan of Reorganization (Photocomm Inc)
LESSOR'S RIGHTS UPON DEFAULT. (a) If Lessee shall fail to remedy any default of Lessee within the cure period, if any, as provided for in Section 12 hereof, then this Lease may be terminated at Lessor's option by ,written notice to Lessee:;
(b) Upon default of Lessee that is not cured within the applicable cure period, Lessee shall peacefully surrender the premises to Lessor and Lessor upon or at any time after such default may, without further notice, re-enter the premises and repossess it by any and all lawful means and may dispossess Lessee and remove Lessee and all other persons and property from the premises and may have, hold and enjoy the premises and the right to receive all rental income therefrom. Lessor's obtaining possession of the premises shall not be a termination of the Lease unless lessor Lessor gives written notice to Lessee of its election to terminate this Lease.;
(c) At any time after the default of Lessee that is not cured within the applicable cure period period, Lessor may re-let the premises or any part thereof, in the name of Lessor, for such term which may be greater or less than the period which would otherwise have constituted the balance of the Term and on such conditions which may include concession, free rent_ , or less rent than Lessee is required to pay, as the Lessor, in its reasonable discretion, may determine, and may collect and receive the rent therefrom;
(d) Lessor shall in no way be responsible or liable for any failure to re-let the premises or any part thereof, or for any failure to collect any rent due upon such re- letting;
(e) No entry, possession or relenting of the premises shall be deemed a termination of this Lease nor shall it be considered a release of any of Lessee's liability under the lease;
(f) No termination of this Lease resulting from Xxx'x Lessee's default shall relieve the Lessee of its liability and obligations under this Lease (whether those obligations arise or become due before the date of termination or afterward), and such liability and obligations shall survive any such termination :termination;
(g) In the event of default by Lessee (whether or not this Lease has been terminated and whether or not the premises or any part thereof shall have been re-let). , Lessee shall pay to lessor Lessor the rent, additional rent, and all other charges required to be paid by Lessee up to the time of such termination, and thereafter Lessee, until the end of what would have been the Term shall be liable to Lessor for, and shall pay to Lessor, as and for agreed "current damages" for Lessee's default:
1. The equivalent of the amount of the rent and additional rent which would be payable under this Lease by the Lessee if this Lease were still in effect, less
2. The net proceeds of any re-letting of the premises effected after deducting all the Lessor's reasonable expenses in connection with such re-letting letting, including, without limitation, all repossession costs, brokerage commissions, legal expenses and reasonable attorney's fees;
(h) Lessee shall pay such "current damages", herein called deficiency, to Lessor monthly on the days on which the rent and additional rent would have been payable under this Lease if this Lease were still in effect. , and as such deficiency shall arise:;
(i) Alternatively to paragraph (g), Lessor shall have the right to recover from Lessee the worth at the time of award of the amount by which the unpaid rent for the balance of the Term after the time of award exceeds the amount of rental loss that Lessee proves could be reasonably avoided, ; and
(j) The Lessor shall have the right to recover from Lessee any and all of the following. Any : Airy other amount necessary to compensate Lessor for all the detriment proximately caused by Lessee's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, but not limited to, any attorneys' fees. , broker's commissions or finder's fees (not only in connection with the reletting of the Premises, but also that portion of any leasing commission paid by Lessor in connection with this Lease which is applicable to that portion of the Term which is unexpired as of the date on which this Lease is terminated); the then unamortized cost of any Lessee impravements improvements constructed for or on behalf of Lessee by or at the expense of Lessor or of any moving allowance or other concession made available to Lessee and/or paid by Lessor pursuant to this Lease; any costs for repairs, clean-up, refurbishing, removal (including the repair of any damage caused by such removal) and storage (or disposal) of Lessee's personal property, equipment, fixtures, and anything else that Lessee is required (under this Lease) to remove but does not remove, ; any costs for alterations, additions and renovations; and any other costs and expenses, including reasonable attorneys' fees and costs incurred by Lessor in regaining possession of and reletting (or attempting to relet) the Premises.
(k) Nothing herein contained shall limit or prejudice the right of the Lessor to prove for and obtain as damages by reason of such termination an amount equal to the maximum allowed by law, whether or not such amount be greater, equal to, or less than the amount of the difference referred to above;
(l1) If the net pros proceeds of any reletting of the premises after deductions exceeds the amount due under this Lease, any excess shall belong to Lessor and Lessee shall have no claim to the same;
(m) The remedies of the Lessor are, at Lessor's option, cumulative and not in the alternative. The remedies set forth herein shall not limit anv any other remedies to which the Lessor may be entitled.
(n) Nothing in this Lease shall be construed as relieving Lessor of any duty which it may have under tinder laws to mitigate its damages in connection with any default or breach on the part of Lessee or as allowing Lessor to recover any damages which could have been reasonably mitigated. In exercising its rights and remedies under this Lease in response to a default or breach on the part of Lessee, Lessor shall, in every instance, be required to act reasonably and in accordance with prudent business practices.
Appears in 1 contract
LESSOR'S RIGHTS UPON DEFAULT. (a) If Lessee the Tenant shall fail to remedy any default of Lessee within the cure period, if any, as provided for in Section 12 hereof, then this Lease may be terminated at Lessor's option by ,written notice to Lesseemake default:
A. In the payment of the rental reserved herein and such default shall continue for ten (b10) Upon days after notice in writing in the manner hereinafter provided, or
B. In the observance and performance of any of the other terms, covenants and conditions of this lease, and such default shall continue for thirty (30) days after such notice, or the Tenant shall have failed to commence the rectification of Lessee that is such default within thirty (30) days after such notice and to diligently prosecute the same where the same cannot cured be completed within thirty (30) days, or
C. If a petition to recognize the applicable cure periodTenant or for an arrangement of its unsecured debts shall be filed, Lessee or
D. If the Tenant shall peacefully surrender be adjudicated a bankrupt, or
E. If a receiver or trustee of the Tenant’s property be appointed by any Court, or
F. If the Tenant shall make a general assignment for the benefit of creditors, or
G. If all interest of the Tenant in its property shall be taken by garnishment, attachment, execution or other process of law, or
H. If the leased premises to Lessor shall be deserted or vacated. Then and Lessor upon in any such events it shall be lawful for the Lessor:
A. Immediately, or at any time after such default maythereafter, without further noticenotice to Tenant, to re-enter the premises and repossess it by any and all lawful means and may dispossess Lessee and remove Lessee and all other persons and property from the premises and may have, hold and enjoy the premises and the right to receive all rental income therefrom. Lessor's obtaining possession of the premises shall not be a termination of the Lease unless lessor gives written notice to Lessee of its election to terminate this Lease.
(c) At any time after the default of Lessee that is not cured within the applicable cure period Lessor may re-let the premises into or any part thereof, in the name of Lessor, for such term which may be greater or less than the period which would otherwise have constituted the balance of the Term and on such conditions which may include concession, free rent_ or less rent than Lessee is required to pay, as the Lessor, in its reasonable discretion, may determine, and may collect and receive the rent therefrom;
(d) Lessor shall in no way be responsible or liable for any failure to re-let the premises or any part thereof, or for any failure to collect any rent due upon such re- letting;
(e) No entry, possession or relenting of the premises shall be deemed a termination of this Lease nor shall it be considered a release of any of Lessee's liability under the lease;
(f) No termination of this Lease resulting from Xxx'x default shall relieve the Lessee of its liability and obligations under this Lease (whether those obligations arise or become due before the date of termination or afterward), and such liability and obligations shall survive any such termination :
(g) In the event of default by Lessee (whether or not this Lease has been terminated and whether or not the said premises or any part thereof shall have been and take possession of the same fully and absolutely without such re-let). Lessee shall pay to lessor entry working a forfeiture of the rent, additional rent, and all rents or other charges required to be paid and of the covenants, terms, and conditions to be performed by Lessee up the Tenant for the full term of this lease, and in the event of such re-entry the Lessor may proceed for the collection of the rents or other charges to be paid under this lease or for the time properly measured damages and for the collection of its reasonable attorney’s fees; or
X. Xxxxxx may at its election terminate this lease upon written notice in the manner hereinafter provided and re-enter said premises as of its former estate therein and the Tenant covenants in case of such termination to indemnify the Lessor against all loss of rents and expense which the Lessor has suffered or paid by reason of such termination, and thereafter Lessee, until during the end of what would have been the Term shall be liable to Lessor for, and shall pay to Lessor, as and for agreed "current damages" for Lessee's default:
1. The equivalent residue of the amount of the rent and additional rent which would be payable under this Lease by the Lessee if this Lease were still in effect, lessterm; or
2. The net proceeds of any re-letting of the premises effected after deducting all the Lessor's reasonable expenses in connection with such re-letting including, without limitation, all repossession costs, brokerage commissions, legal expenses and reasonable attorney's fees;
(h) Lessee shall pay such "current damages", herein called deficiency, to Lessor monthly on the days on which the rent and additional rent would have been payable under this Lease if this Lease were still in effect. and as such deficiency shall arise:
(i) Alternatively to paragraph (g), Lessor shall have the right to recover from Lessee the worth at the time of award of the amount by which the unpaid rent for the balance of the Term after the time of award exceeds the amount of rental loss that Lessee proves could be reasonably avoided, and
(j) C. The Lessor shall further have all other rights and remedies including injunctive relief, ejectment or summary proceedings in the right to recover from Lessee unlawful detainer, and any or all legal remedies, actions and proceedings and all of the following. Any other amount necessary such shall be cumulative and provided further that Lessor shall be entitled to compensate Lessor for all the detriment proximately caused by Lessee's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, but not limited to, any attorneys' fees. broker's commissions or finder's reasonable attorneys fees (not only incurred in connection with the reletting of the Premises, but also that portion institution of any leasing commission paid by Lessor in connection with this Lease which is applicable to that portion of the Term which is unexpired as of the date on which this Lease is terminated); the then unamortized cost of any Lessee impravements constructed for or on behalf of Lessee by or at the expense of Lessor or of any moving allowance or other concession made available to Lessee and/or paid by Lessor pursuant to this Lease; any costs for repairs, clean-up, refurbishing, removal (including the repair of any damage caused by such removal) and storage (or disposal) of Lessee's personal property, equipment, fixtures, and anything else that Lessee is required (under this Lease) to remove but does not remove, any costs for alterations, additions and renovations; and any other costs and expenses, including reasonable attorneys' fees and costs incurred by Lessor in regaining possession of and reletting (or attempting to relet) the Premisesproceedings.
(k) Nothing herein contained shall limit or prejudice the right of the Lessor to prove for and obtain as damages by reason of such termination an amount equal to the maximum allowed by law, whether or not such amount be greater, equal to, or less than the amount of the difference referred to above;
(l) If the net pros of any reletting of the premises after deductions exceeds the amount due under this Lease, any excess shall belong to Lessor and Lessee shall have no claim to the same;
(m) The remedies of the Lessor are, at Lessor's option, cumulative and not in the alternative. The remedies set forth herein shall not limit anv other remedies to which the Lessor may be entitled
(n) Nothing in this Lease shall be construed as relieving Lessor of any duty which it may have under laws to mitigate its damages in connection with any default or breach on the part of Lessee or as allowing Lessor to recover any damages which could have been reasonably mitigated. In exercising its rights and remedies under this Lease in response to a default or breach on the part of Lessee, Lessor shall, in every instance, be required to act reasonably and in accordance with prudent business practices.
Appears in 1 contract
Samples: Commercial Lease
