Common use of LIABILITY OF SUBTENANT UPON TERMINATION Clause in Contracts

LIABILITY OF SUBTENANT UPON TERMINATION. (a) If Sublessor elects to terminate this Sublease by reason of an Event of Default, then, notwithstanding such termination, Subtenant shall be liable for and shall pay to Sublessor the sum of all rent and other indebtedness accrued to the date of such termination, plus, as damages, an amount equal to the then present value of the rent reserved hereunder for the remaining portion of the term of this Sublease (had such term not been terminated by Sublessor prior to the date of expiration stated in Article 2), less the then present value of the fair rental value of the Subleased Premises for such period. All present values shall be based on a three percent (3%) per annum discount rate. (b) If Sublessor elects to terminate this Sublease by reason of an Event of Default, in lieu of exercising the rights of Sublessor under the preceding subparagraph, Sublessor may instead hold Subtenant liable for all rent and other indebtedness accrued to the date of such termination, plus such rent and other indebtedness as would otherwise have been required to be paid by Subtenant to Sublessor during the period following termination of the term of this Sublease measured from the date of such termination by Sublessor until the date of expiration stated in Article 2 (had Sublessor not elected to terminate this Sublease on account of such Event of Default) diminished by any "Net Sums"(as hereinafter defined) thereafter received by Sublessor through reletting the Subleased Premises during said period. Actions to collect amounts due by Subtenant provided for in this Section may be brought from time to time by Sublessor during the aforesaid period, on one or more occasions, without the necessity of Sublessor's waiting until expiration of such period; and in no event shall Subtenant be entitled to any excess of rent (or rent plus other sums) obtained by reletting over and above the rent provided for in this Sublease. As used herein, the term "Net Sums" refers to all rent, if any,received by Sublessor through reletting the Subleased Premises following termination of this Sublease or termination of Subtenant's right to possession of the Subleased Premises, reduced by any expenses incurred by Sublessor as provided in Section 11.5.

LIABILITY OF SUBTENANT UPON TERMINATION. (a) If Sublessor elects to terminate this Sublease by reason of an Event of Default, then, notwithstanding such termination, Subtenant shall be liable for and shall pay to Sublessor the sum of all rent and other indebtedness accrued to the date of such termination, plus, as damages, an amount equal to the then present value of the rent reserved hereunder for the remaining portion of the term of this Sublease (had such term not been terminated by Sublessor prior to the date of expiration stated in Article 2), less the then present value of the fair rental value of the Subleased Premises for such period. All present values shall be based on a three percent (3%) per annum discount rate.Sublessor (b) If Sublessor elects to terminate this Sublease by reason of an Event of Default, in lieu of exercising the rights of Sublessor under the preceding subparagraph, Sublessor may instead hold Subtenant liable for all rent and other indebtedness accrued to the date of such termination, plus such rent and other indebtedness as would otherwise have been required to be paid by Subtenant to Sublessor during the period following termination of the term of this Sublease measured from the date of such termination by Sublessor until the date of expiration stated in Article 2 II (had Sublessor not elected to terminate this Sublease on account of such Event of Default) diminished by any "Net Sums"(as Sums" (as hereinafter defined) thereafter received by Sublessor through reletting the Subleased Premises during said period. Actions to collect amounts due by Subtenant provided for in this Section may be brought from time to time by Sublessor during the aforesaid period, on one or more occasions, without the necessity of Sublessor's waiting until expiration of such period; and in no event shall Subtenant be entitled to any excess of rent (or rent plus other sums) obtained by reletting over and above the rent provided for in this Sublease. As used herein, the term "Net Sums" refers to all rent, if any,, received by Sublessor through reletting the Subleased Premises following termination of this Sublease or termination of Subtenant's right to possession of the Subleased Premises, reduced by any expenses incurred by Sublessor as provided in Section 11.511.6.

LIABILITY OF SUBTENANT UPON TERMINATION. (a) If Sublessor elects to terminate this Sublease by reason of an Event of Default, then, notwithstanding such termination, Subtenant shall be liable for and shall pay to Sublessor the sum of all rent and other indebtedness accrued to the date of such termination, plus, as damages, an amount equal to the then present value of the rent reserved hereunder for the remaining portion of the term of this Sublease (had such term not been terminated by Sublessor prior to the date of expiration stated in Article 2II), less the then present value of the fair rental value of the Subleased Premises for such period. All present values shall be based on a three percent (3%) per annum discount rate. (b) If Sublessor elects to terminate this Sublease by reason of an Event of Default, in lieu of exercising the rights of Sublessor under the preceding subparagraph, Sublessor may instead hold Subtenant liable for all rent and other indebtedness accrued to the date of such termination, plus such rent and other indebtedness as would otherwise have been required to be paid by Subtenant to Sublessor during the period following termination of the term of this Sublease measured from the date of such termination by Sublessor until the date of expiration stated in Article 2 II (had Sublessor not elected to terminate this Sublease on account of such Event of Default) diminished by any "Net Sums"(as Sums" (as hereinafter defined) thereafter received by Sublessor through reletting the Subleased Premises during said period. Actions to collect amounts due by Subtenant provided for in this Section may be brought from time to time by Sublessor during the aforesaid period, on one or more occasions, without the necessity of Sublessor's waiting until expiration of such period; and in no event shall Subtenant be entitled to any excess of rent (or rent plus other sums) obtained by reletting over and above the rent provided for in this Sublease. As used herein, the term "Net Sums" refers to all rent, if any,, received by Sublessor through reletting the Subleased Premises following termination of this Sublease or termination of Subtenant's right to possession of the Subleased Premises, reduced by any expenses incurred by Sublessor as provided in Section 11.511.6.

LIABILITY OF SUBTENANT UPON TERMINATION. (a) If Sublessor elects to terminate this Sublease by reason of an Event of Default, then, notwithstanding such termination, Subtenant shall be liable for and shall pay to Sublessor the sum of all rent and other indebtedness accrued to the date of such termination, plus, as damages, an amount equal to the then present value of the rent reserved hereunder for the remaining portion of the term of this Sublease (had such term not been terminated by Sublessor prior to the date of expiration stated in Article 2), less the then present value of the fair rental value of the Subleased Premises for such period. All present values shall be based on a three percent (3%) per annum discount rate. (b) If Sublessor elects to terminate this Sublease by reason of an Event of Default, in lieu of exercising the rights of Sublessor under the preceding subparagraph, Sublessor may instead hold Subtenant liable for all rent and other indebtedness accrued to the date of such termination, plus such rent and other indebtedness as would otherwise have been required to be paid by Subtenant to Sublessor during the period following termination of the term of this Sublease measured from the date of such termination by Sublessor until the date of expiration stated in Article 2 (had Sublessor not elected to terminate this Sublease on account of such Event of Default) diminished by any "Net Sums"(as hereinafter defined) thereafter received by Sublessor through reletting the Subleased Premises during said period. Actions to collect amounts due by Subtenant provided for in this Section may be brought from time to time by Sublessor during the aforesaid period, on one or more occasions, without the necessity of Sublessor's waiting until expiration of such period; and in no event shall Subtenant be entitled to any excess of rent (or rent plus other sums) obtained by reletting over and above the rent provided for in this Sublease. As used herein, the term "Net Sums" refers to all rent, if any,received by Sublessor through reletting the Subleased Premises following termination of this Sublease or termination of Subtenant's right to possession of the Subleased Premises, reduced by any expenses incurred by Sublessor as provided in Section 11.5.from