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 (10) 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 a petition to recognize the Tenant or for an arrangement of its unsecured debts shall be filed, or D. If the Tenant shall be adjudicated a bankrupt, or E. If a receiver of Trustee of the Tenant's Property be appointed by a 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 shall be abandoned, then and in any such events, it shall be lawful for the Lessor to: 1. Immediately, or at any time thereafter, without further notice to Tenant, to re- enter into or upon said premises or any part thereof and take possession of the same fully and absolutely without such re-entry working a forfeiture of the rents or other charges to be paid and of the covenants, terms and conditions to be performed by 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 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, during the residue of the term; or 3. The Lessor shall further have all other rights and remedies including injunctive relief, ejectment or summary proceedings in the unlawful detainer, and any or all legal remedies, actions and proceedings and all such shall be cumulative and provided further that Lessor shall be entitled to its reasonable attorneys' fees incurred in connection with the institution of any such proceedings.
Appears in 1 contract
Sources: Airport Property Lease
LESSOR'S RIGHTS UPON DEFAULT. That a. If Lessee shall fail to remedy any default within the notice period, if the Tenant shall any, as provided for in paragraph 12 hereof, then this Lease may be terminated at Lessor's written option;
b. Upon default in any manner including the below:
A. In the payment of the rental reserved herein Lessee, 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 continue for ten not be a termination of the lease unless Lessor gives written notice of election to terminate the lease;
c. At any time after either the default of Lessee (10and notice thereof is given to Lessee if required by paragraph 12 hereof) days or at any time after notice in writing a termination of this Lease, the Lessor may re-let the premises or any part thereof, in the manner hereinafter providedname of Lessor or otherwise, orfor such term which may be greater or less than the period which would otherwise have constituted the balance of the 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 sole discretion, may determine, and may collect and receive the rent therefrom;
B. In d. The Lessor shall in no way be responsible or liable for any failure to re-let the observance and performance leased property or any part thereof, or for any failure to collect any rent due upon such re-letting;
e. No entry, possession or reletting 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 other terms, covenants and conditions lease;
f. No termination of this leaseLease resulting from 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.
g. In the event of default shall continue for thirty by Lessee, (30) days after such notice, whether or not the Tenant lease has been terminated and whether or not the leased property or any part thereof shall have failed been re-let) the Lessee shall pay to commence the rectification Lessor the Rent, Additional Rent, common area expenses, and all other charges required to be paid by the Lessee up to the time of such default within thirty (30) days after such notice termination, and to diligently prosecute thereafter the same where Lessee, until the same cannot be completed within thirty (30) days, or
C. If a petition to recognize end of what would have been the Tenant or for an arrangement term of its unsecured debts this Lease shall be filedliable to the Lessor for, or
D. If and shall pay to the Tenant shall be adjudicated a bankruptLessor, or
E. If a receiver of Trustee of the Tenant's Property be appointed by a Court, or
F. If the Tenant shall make a general assignment as and for agreed "current damages" 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 shall be abandoned, then and in any such events, it shall be lawful for the Lessor toLessee's default:
1. Immediately, or at any time thereafter, without further notice to Tenant, to re- enter into or upon said premises or any part thereof and take possession The equivalent of the same fully amount of the Rent and absolutely without 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 expenses in connection with such re-entry working a forfeiture of letting, including, without limitation, all repossession costs, brokerage commissions, legal expenses and reasonable attorney's fees;
h. The Lessee shall pay such "current damages", herein called deficiency, to the rents or other charges to be paid Lessor monthly on the days on which the rent and of the covenants, terms and conditions to be performed by 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 additional rent would have been payable under this lease or for if this lease were still in effect, and as such deficiency shall arise;
i. Lessor shall have the properly measured damages right to recover from Lessee any and for all of the collection following:
1. The worth at the time of its reasonable attorneys' fees; oraward of the unpaid rent which had been earned at the time of termination;
2. Lessor may The worth at its election terminate this lease upon written notice in the manner hereinafter provided and re-enter said premises as time of its former estate therein and award of the Tenant covenants in case amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of such termination to indemnify the lessor against all rental loss of rents and expense which the Lessor has suffered or paid by reason of such termination, during the residue of the term; orthat 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 after the time of award exceeds the amount of rental loss that Lessee proves could be reasonably avoided; and
4. Any other amount necessary to compensate Lessor shall further have for all other rights and remedies including injunctive relief, ejectment the detriment proximately caused by Lessee's failure to perform its obligations under this Lease or summary proceedings which in the unlawful detainerordinary 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 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 or all legal remediescosts for alterations, actions additions and proceedings renovations; and all such shall be cumulative any other costs and provided further that Lessor shall be entitled to its expenses, including reasonable attorneys' fees and costs incurred by Lessor in connection with regaining possession of and reletting (or attempting to relet) the institution of any such proceedingsPremises.
Appears in 1 contract
Sources: Lease Agreement (BSD Medical Corp)
LESSOR'S RIGHTS UPON DEFAULT. That if If the Tenant shall default in any manner including the belowmake default:
A. In the payment of the rental reserved herein and such default shall continue for ten (10) 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 a petition to recognize the Tenant or for an arrangement of its unsecured debts shall be filed, or
D. If the Tenant shall be adjudicated a bankrupt, or
E. If a receiver of Trustee or trustee of the Tenant's Property ’s property be appointed by a 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 shall be abandoned, then deserted or vacated. Then and in any such events, events it shall be lawful for the Lessor toLessor:
1. A. Immediately, or at any time thereafter, without further notice to Tenant, to re- re-enter into or upon said premises or any part thereof and take possession of the same fully and absolutely without such re-entry working a forfeiture of the rents or other charges to be paid and of the covenants, terms terms, and conditions to be performed by the Tenant for the full term of this lease, and in the event of such re-entry the lessor Lessor may proceed for the collection of the rents or other charges to be paid under this lease or for the properly measured damages and for the collection of its reasonable attorneys' 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 Lessor against all loss of rents and expense which the Lessor has suffered or paid by reason of such termination, during the residue of the term; or
3. C. The Lessor shall further have all other rights and remedies including injunctive relief, ejectment or summary proceedings in the unlawful detainer, and any or all legal remedies, actions and proceedings and all such shall be cumulative and provided further that Lessor shall be entitled to its reasonable attorneys' attorneys fees incurred in connection with the institution of any such proceedings.
Appears in 1 contract
Sources: Commercial Lease
LESSOR'S RIGHTS UPON DEFAULT. That If the Premises shall be deserted or vacated for more than seven (7) consecutive days (which in any event Lessee covenants that the insurance herein provided shall be maintained in full force and effect) or if bankruptcy or insolvency proceedings are commenced against or by Lessee in any court, or if proceedings are commenced for the Tenant appointment of a Trustee or Receiver of Lessee's property, or if there shall be a default in any manner including the below:
A. In the payment of the rental reserved herein and such default shall continue rent or any part thereof, or other payment due hereunder, for more than ten (10) days after written notice in writing of such default is given by Lessor to Lessee, or if there shall be default in the manner hereinafter provided, or
B. In the observance and performance of any other covenant, agreement or condition herein contained on the part of the other terms, covenants and conditions of this lease, and such default shall continue Lessee for more than thirty (30) days after such noticewritten notice by Lessor, this Lease shall thereupon be terminated at Lessor's option, and Lessor shall have the right to re-enter or repossess the Premises and dispossess and remove therefrom Lessee, or the Tenant shall have failed to commence the rectification of such default within thirty (30) days after such notice other occupants thereof, and to diligently prosecute the same where the same cannot be completed within thirty (30) days, or
C. If a petition to recognize the Tenant or for an arrangement of its unsecured debts shall be filed, or
D. If the Tenant shall be adjudicated a bankrupt, or
E. If a receiver of Trustee of the Tenant's Property be appointed by a 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 shall be abandoned, then and in any such events, it shall be lawful for the Lessor to:
1. Immediately, or at any time thereaftertheir effects, without further notice to Tenantbeing liable for any prosecution therefor. In such case, to re- enter into or upon said premises Lessor may, at Lessor's option, relet the Premises or any part thereof thereof, as the agent of Lessee, and take possession 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 same fully and absolutely without such term remaining at the time of re-entry working a forfeiture or repossession and the amount, if any, received or to be received under such reletting for such portion of the rents or other charges to term. Should this Lease be paid and of the covenants, terms and conditions to be performed by the Tenant for the full term of this lease, and placed in the event hands of such re-entry the lessor may proceed an attorney for the collection of the rents default or other charges to be paid under this lease breach, or for the properly measured damages and for the collection enforcement of its any rights herein reserved or stipulated, Lessee agrees to pay all costs incident thereto, including 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, during the residue of the term; or
3. The Lessor shall further have all other rights and remedies including injunctive relief, ejectment or summary proceedings in the unlawful detainer, and any or all legal remedies, actions and proceedings and all such shall be cumulative and provided further that Lessor shall be entitled to its reasonable attorneys' fees incurred in connection with the institution of any such proceedings.
Appears in 1 contract
Sources: Lease Agreement (Colorsmart Com Inc)
LESSOR'S RIGHTS UPON DEFAULT. That if If an event of Default occurs, the Tenant Lessor shall default in have the right to exercise any manner including one or more of the belowfollowing remedies:
A. In the payment of the rental reserved herein and such default shall continue for ten (10) days after notice in writing in the manner hereinafter provided, orTo terminate this Lease.
B. In To declare the observance entire amount of rent and performance of any of the other terms, covenants sums due Lessor under this Lease for its entire term immediately due 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, orpayable.
C. If a petition to recognize the Tenant or for an arrangement of its unsecured debts shall be filed, or
D. If the Tenant shall be adjudicated a bankrupt, or
E. If a receiver of Trustee of the Tenant's Property be appointed by a 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 shall be abandoned, then and in any such events, it shall be lawful for the Lessor to:
1. Immediately, or at any time thereafter, without further notice to Tenant, to re- enter into or upon said premises or any part thereof and To take possession of the Equipment without demand or notice wherever the same fully 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 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 absolutely without such subtracting therefrom any unearned leasing charges. If Lessee fails to purchase the Equipment upon Lessor's request, Lessor may re-entry working lease or sell the Equipment. If sold, the sale may be public or private and may be at wholesale to a forfeiture 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 rents Equipment at the time 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 Lessee.
▇. ▇▇▇▇▇▇ may, at its option, retain the Equipment in lieu of all damages caused by Lessee's Default . Lessors shall not be deemed to have exercised this option unless Lessee is so notified by Lessor in writing.
F. Lessee shall pay Lessor all costs and expenses, including attorneys's fees incurred by Lessor in exercising any of its rights or other charges to be paid and remedies under this Paragraph or in enforcing any of the covenants, terms and or conditions to be performed by the Tenant for the full term of this lease, and Lease.
▇. ▇▇▇▇▇▇ may pursue any other remedy provided by law or 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 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, during the residue of the term; or
3. The Lessor shall further have all other rights and remedies including injunctive relief, ejectment or summary proceedings in the unlawful detainer, and any or all legal remedies, actions and proceedings and all such shall be cumulative and provided further that Lessor shall be entitled to its reasonable attorneys' fees incurred in connection with the institution of any such proceedingsLease.
Appears in 1 contract
LESSOR'S RIGHTS UPON DEFAULT. That If the Lessor notifies the Lessee in writing that it is in default under this agreement, and the Lessee fails to cure the default within the required number of days after it receives such written notice, the Lessor may, without making further notice or demand upon the Lessee, take any or all of the following actions:
(i) Notify the Lessee that this lease has been terminated.
(ii) Require the Lessee to deliver possession of the Premises and if the Tenant shall default in any manner including the below:
A. In the payment Lessee fails or refuses to deliver possession of the rental reserved herein and such default shall continue for ten (10) 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 a petition to recognize the Tenant or for an arrangement of its unsecured debts shall be filed, or
D. If the Tenant shall be adjudicated a bankrupt, or
E. If a receiver of Trustee of the Tenant's Property be appointed by a 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 shall be abandoned, then and in any such events, it shall be lawful for the Lessor to:
1. Immediately, or at any time thereafter, without further notice to TenantPremises, to re- enter into or upon said premises or any part thereof and take possession of the same fully Premises, to remove the property and absolutely without such re-entry working a forfeiture personnel of the rents or other charges to be paid and Lessee from the Premises at the expense of the covenants, terms Lessee and conditions to be performed store the property in any reasonable manner and place selected by the Tenant for Lessor at the full term expense of the Lessee.
(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 in clear of any rights of the event Lessee and without any duty to account to the Lessee for any proceeds of such re-entry use.
(iv) Reenter the lessor may proceed for the collection of the rents or other charges to be paid under Premises without terminating this lease or for and relet the properly measured damages Premises in any commercially reasonable manner, and for apply 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 proceeds of such termination to indemnify the lessor against reletting, after deducting all loss of rents costs and expense which the Lessor has suffered or paid by reason of such termination, during the residue of the term; or
3. The Lessor shall further have all other rights and remedies including injunctive relief, ejectment or summary proceedings in the unlawful detainer, and any or all legal remedies, actions and proceedings and all such shall be cumulative and provided further that Lessor shall be entitled to its reasonable attorneys' fees expenses incurred in connection with retaking possession of, remodeling, and reletting the institution 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, but not be obligated, to take that action itself, and to bill the Lessee for the costs of taking that action. If the Lessee fails to pay such proceedingscosts with the next payment due under this lease, the Lessee agrees to pay late charges on those costs at the rate provided for in this agreement.
(vi) Pursue any and all other rights or remedies available to the Lessor at law or in equity.
Appears in 1 contract
Sources: Agreement and Plan of Reorganization (Photocomm Inc)
LESSOR'S RIGHTS UPON DEFAULT. That if If the Tenant shall Lessor notifies the Lessee in writing that it is in default under this Agreement, and the Lessee fails to cure or reasonably commence corrective action to cure the default within the time set forth in the notice, Lessor may, without making further notice or demand upon the Lessee, but subject to the LCA, exercise any manner including or all of the belowfollowing actions:
A. In a. Leave this Agreement in effect, permit the payment Lessee to remain in possession of the rental reserved herein Premises, and such default shall continue bring an action or actions against the Lessee to recover the amounts owed by the Lessee under this Agreement as they become due, and to recover any other amounts necessary to compensate the Lessor for ten (10) days after notice all detriment caused by the Lessee's failure to perform its obligations under this Agreement. The abandonment of the Premises by the Lessee will not reduce or eliminate the Lessee’s obligations under this Agreement.
b. Notify the Lessee in writing in that the manner hereinafter providedAgreement is terminated, or
B. In and demand that the observance and performance of any Lessee immediately relinquish possession of the other terms, covenants and conditions Premises. The Lessor may take this action either as an alternative to or subsequent to exercising the remedies set forth in subsection (a) 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 a petition to recognize the Tenant or for an arrangement of its unsecured debts shall be filed, or
D. paragraph. If the Tenant shall be adjudicated a bankrupt, or
E. If a receiver of Trustee Lessee does not relinquish possession of the Tenant's Property be appointed by a CourtPremises, 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 shall be abandoned, then and in any such events, it shall be lawful for the Lessor to:
1. Immediately, or at any time thereafter, without further notice to Tenant, to re- may enter into or upon said premises or any part thereof and take possession of the same fully Premises, may remove the property and absolutely without such re-entry working a forfeiture personnel of the rents or other charges to be paid and Lessee from the Premises at the expense of the covenantsLessee, terms and conditions to be performed may store the Lessee’s personal property in any reasonable manner and place selected by the Tenant Lessor, without liability for any physical damage or financial loss that may be caused to the full term Lessee by such removal. The Lessee agrees to reimburse the Lessor for all expenses of this leaseand all damage caused by the repossession of the Premises and the removal and storage of the Lessee’s property.
c. 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 the use of the Premises.
d. Relet the Premises in any commercially reasonable manner, and in apply 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 properly measured damages proceeds, after deducting all costs 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, during the residue of the term; or
3. The Lessor shall further have all other rights and remedies including injunctive relief, ejectment or summary proceedings in the unlawful detainer, and any or all legal remedies, actions and proceedings and all such shall be cumulative and provided further that Lessor shall be entitled to its reasonable attorneys' fees expenses incurred in connection with retaking possession of, remodeling, and reletting the institution Premises, in payment of the Lessee's obligations under this Agreement, with the Lessee remaining responsible for any such proceedingsdeficiency.
e. If ▇▇▇▇▇▇'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 will have the right, but not be obligated, to take that action itself, and to bill the Lessee for the costs of taking that action.
Appears in 1 contract
LESSOR'S RIGHTS UPON DEFAULT. That if (a) Lessor may declare a default under this Lease upon the Tenant shall default in happening of any manner including the below:
A. In the payment one or more of the rental reserved herein and such default shall continue for ten following events, namely: (10i) days after notice in writing in the manner hereinafter providedif Lessee fails to pay Lessor any rent, or
B. In the observance and performance of any of the other termsBasic, covenants and conditions of this leaseor additional, and such default shall continue for within thirty (30) days after of the due date; (ii) if Lessee fails to perform or comply with the other terms and provisions of this Lease and such notice, or the Tenant shall have failed to commence the rectification of such default failure is not cured within thirty (30) days after such notice and in writing has been given to diligently prosecute the same where the same cannot be completed within thirty Lessee by Lessor; (30iii) daysif Lessee vacates or abandons Premises; or, or
C. If (iv) if Lessee files a petition to recognize the Tenant in bankruptcy or for reorganization under any bankruptcy act or voluntarily takes advantage of any such act or makes an arrangement of its unsecured debts shall be filed, or
D. If the Tenant shall be adjudicated a bankrupt, or
E. If a receiver of Trustee of the Tenant's Property be appointed by a Court, or
F. If the Tenant shall make a general assignment for the benefit of creditors, oror is adjudicated as bankrupt or insolvent and such adjudication is not dismissed and vacated within thirty (30) days after the order or judgment is initially entered.
G. If all interest (b) Upon ▇▇▇▇▇▇'s default, the rights and remedies of Lessor under the law or as in this Lease provided shall be deemed distinct, separate, and cumulative and no one of them, whether or not exercised by ▇▇▇▇▇▇, shall be deemed to be an exclusion of the Tenant others herein or by law provided.
(c) Upon Lessee's default, Lessor shall have the right to cancel and terminate this Lease by giving to Lessee not less than thirty (30) days' notice of the cancellation and termination, and on expiration of the time fixed in its property the notice this Lease and all rights of Lessee hereunder shall terminate in the same manner and with the same force and effect, except as to Lessee's liability, as if the date fixed in the notice of cancellation and termination were the end of the term herein originally determined. On termination, Lessor may recover from Lessee all rentals due or otherwise payable and all damages proximately resulting from ▇▇▇▇▇▇'s default, including the cost of recovering Premises and the worth of the balance of this Lease over the reasonable rental value of Premises for the remainder of the Lease Term, together with reasonable cost and attorney's fees, which amount shall be taken by garnishmentimmediately due Lessor from Lessee.
(d) Upon Lessee's default, attachmentLessor without terminating this Lease may, execution or other process of lawbut shall not be required to, or
H. If the leased premises shall be abandoned, then re-enter and in any such events, it shall be lawful for the Lessor to:
1. Immediately, or at any time thereafter, without further notice to Tenant, to re- enter into or upon said premises re-let Premises or any part thereof for any term at the rent and take possession on the terms as Lessor may reasonably determine.
(e) The failure of Lessor to insist on the strict performance of any of the terms and conditions of this Lease shall not be deemed a waiver of any subsequent breach or default of the same fully and absolutely without such re-entry working a forfeiture of the rents or any other charges to be paid and of the covenants, terms and conditions to be performed by 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 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, during the residue of the term; or
3. The Lessor shall further have all other rights and remedies including injunctive relief, ejectment or summary proceedings in the unlawful detainer, and any or all legal remedies, actions and proceedings and all such shall be cumulative and provided further that Lessor shall be entitled to its reasonable attorneys' fees incurred in connection with the institution of any such proceedingsconditions.
Appears in 1 contract
Sources: Lease
LESSOR'S RIGHTS UPON DEFAULT. That If the Lessor notifies the ----------------------------- Lessee in writing that it is in default under this agreement, and the Lessee fails to cure the default within the required number of days after it receives such written notice, the Lessor may, without making further notice or demand upon the Lessee, take any or all of the following actions:
(i) Notify the Lessee that this lease has been terminated.
(ii) Require the Lessee to deliver possession of the Premises and if the Tenant shall default in any manner including the below:
A. In the payment Lessee fails or refuses to deliver possession of the rental reserved herein and such default shall continue for ten (10) 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 a petition to recognize the Tenant or for an arrangement of its unsecured debts shall be filed, or
D. If the Tenant shall be adjudicated a bankrupt, or
E. If a receiver of Trustee of the Tenant's Property be appointed by a 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 shall be abandoned, then and in any such events, it shall be lawful for the Lessor to:
1. Immediately, or at any time thereafter, without further notice to TenantPremises, to re- enter into or upon said premises or any part thereof and take possession of the same fully Premises, to remove the property and absolutely without such re-entry working a forfeiture personnel of the rents or other charges to be paid and Lessee from the Premises at the expense of the covenants, terms Lessee and conditions to be performed store the property in any reasonable manner and place selected by the Tenant Lessor at the expense of the Lessee
(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 full term of this leasePremises in any commercially reasonable manner, and in apply the event proceeds 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 properly measured damages reletting, after deducting all costs 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, during the residue of the term; or
3. The Lessor shall further have all other rights and remedies including injunctive relief, ejectment or summary proceedings in the unlawful detainer, and any or all legal remedies, actions and proceedings and all such shall be cumulative and provided further that Lessor shall be entitled to its reasonable attorneys' fees expenses incurred in connection with retaking possession of, remodeling, and reletting the institution 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, but not be obligated, to take that action itself, and to ▇▇▇▇ the Lessee for the costs of taking that action. If the Lessee fails to pay such proceedingscosts with the next payment due under this lease, the Lessee agrees to pay late charges on those costs at the rate provided for in this agreement.
(vi) Pursue any and all other rights or remedies available to the Lessor at law or in equity.
Appears in 1 contract
Sources: Agreement and Plan of Reorganization (Photocomm Inc)
LESSOR'S RIGHTS UPON DEFAULT. That (a) If Lessee shall fail to remedy any default of Lessee within the cure period, if the Tenant shall default any, as provided for in any manner including the belowSection 12 hereof, then this Lease may be terminated at Lessor's option by ,written notice to Lessee:
A. In (b) Upon default of Lessee that is not cured within the payment of applicable cure period, Lessee shall peacefully surrender the rental reserved herein premises to Lessor and such default shall continue for ten (10) 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 a petition to recognize the Tenant or for an arrangement of its unsecured debts shall be filed, or
D. If the Tenant shall be adjudicated a bankrupt, or
E. If a receiver of Trustee of the Tenant's Property be appointed by a 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 shall be abandoned, then and in any such events, it shall be lawful for the Lessor to:
1. Immediately, upon or at any time thereafterafter 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 TenantLessee 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- enter into letting;
(e) No entry, possession or upon said 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 ▇▇▇'▇ 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 take possession 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 same fully amount of the rent and absolutely without 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-entry working a forfeiture 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 rents 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 charges concession made available to be 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 the covenantsLessee's personal property, terms and conditions to be performed by the Tenant for the full term of this leaseequipment, fixtures, and in the event of such re-entry the lessor may proceed for the collection of the rents or other charges to be paid anything else that Lessee is required (under this lease or Lease) to remove but does not remove, any costs for the properly measured damages alterations, additions and for the collection of its renovations; and any other costs and expenses, including reasonable attorneys' fees; orfees and costs incurred by Lessor in regaining possession of and reletting (or attempting to relet) the Premises.
2. Lessor may at its election terminate this lease upon written notice in (k) Nothing herein contained shall limit or prejudice the manner hereinafter provided and re-enter said premises as right 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 to prove for and obtain as damages by reason of such terminationtermination an amount equal to the maximum allowed by law, during whether or not such amount be greater, equal to, or less than the residue amount of the term; ordifference referred to above;
3(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 further be construed as relieving Lessor of any duty which it may have all other 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 including injunctive reliefunder this Lease in response to a default or breach on the part of Lessee, ejectment or summary proceedings Lessor shall, in the unlawful detainerevery instance, be required to act reasonably and any or all legal remedies, actions and proceedings and all such shall be cumulative and provided further that Lessor shall be entitled to its reasonable attorneys' fees incurred in connection accordance with the institution of any such proceedingsprudent business practices.
Appears in 1 contract
Sources: Lease Agreement (nCoat, Inc.)
LESSOR'S RIGHTS UPON DEFAULT. That (a) If Lessee shall fail to remedy any default of Lessee within the cure period, if the Tenant shall default any, as provided for in any manner including the below:
A. In the payment of the rental reserved herein and such default shall continue for ten (10) 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 a petition to recognize the Tenant or for an arrangement of its unsecured debts shall be filed, or
D. If the Tenant shall be adjudicated a bankrupt, or
E. If a receiver of Trustee of the Tenant's Property be appointed by a 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 shall be abandonedSection 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 in any such events, it shall be lawful for the Lessor to:
1. Immediately, upon or at any time thereafterafter 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 TenantLessee 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- enter into letting;
(e) No entry, possession or upon said 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 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;
(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 take possession 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 same fully amount of the rent and absolutely without 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-entry working a forfeiture 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 rents 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: 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 improvements constructed for or on behalf of Lessee by or at the expense of Lessor or of any moving allowance or other charges concession made available to be 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 the covenantsLessee's personal property, terms and conditions to be performed by the Tenant for the full term of this leaseequipment, fixtures, and in the event of such re-entry the lessor may proceed for the collection of the rents or other charges to be paid anything else that Lessee is required (under this lease or Lease) to remove but does not remove; any costs for the properly measured damages alterations, additions and for the collection of its renovations; and any other costs and expenses, including reasonable attorneys' fees; orfees and costs incurred by Lessor in regaining possession of and reletting (or attempting to relet) the Premises.
2. Lessor may at its election terminate this lease upon written notice in (k) Nothing herein contained shall limit or prejudice the manner hereinafter provided and re-enter said premises as right 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 to prove for and obtain as damages by reason of such terminationtermination an amount equal to the maximum allowed by law, during whether or not such amount be greater, equal to, or less than the residue amount of the term; ordifference referred to above;
3(1) If the net 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 any other remedies to which the Lessor may be entitled.
(n) Nothing in this Lease shall further be construed as relieving Lessor of any duty which it may have all other 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 including injunctive reliefunder this Lease in response to a default or breach on the part of Lessee, ejectment or summary proceedings Lessor shall, in the unlawful detainerevery instance, be required to act reasonably and any or all legal remedies, actions and proceedings and all such shall be cumulative and provided further that Lessor shall be entitled to its reasonable attorneys' fees incurred in connection accordance with the institution of any such proceedingsprudent business practices.
Appears in 1 contract
LESSOR'S RIGHTS UPON DEFAULT. That if If the Tenant shall default in any manner including the belowmake default:
A. In the payment of the rental reserved herein and such default shall continue for ten (10) 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 a petition to recognize the Tenant or for an arrangement of its unsecured debts shall be filed, or
D. If the Tenant shall be adjudicated a bankrupt, or
E. If a receiver of Trustee or trustee of the Tenant's Property ’s property be appointed by a 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 shall be abandoned, then deserted or vacated. Then and in any such events, events it shall be lawful for the Lessor toLessor:
1. A. Immediately, or at any time thereafter, without further notice to Tenant, to re- re-enter into or upon said premises or any part thereof and take possession of the same fully and absolutely without such re-entry working a forfeiture of the rents or other charges to be paid and of the covenants, terms terms, and conditions to be performed by the Tenant for the full term of this lease, and in the event of such re-entry the lessor Lessor may proceed for the collection of the rents or other charges to be paid under this lease or for the properly measured damages and for the collection of its reasonable attorneys' attorney’s 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 Lessor against all loss of rents and expense which the Lessor has suffered or paid by reason of such termination, during the residue of the term; or
3. C. The Lessor shall further have all other rights and remedies including injunctive relief, ejectment or summary proceedings in the unlawful detainer, and any or all legal remedies, actions and proceedings and all such shall be cumulative and provided further that Lessor shall be entitled to its reasonable attorneys' attorneys fees incurred in connection with the institution of any such proceedings.
Appears in 1 contract
Sources: Commercial Lease