Common use of Licensor’s Remedies Clause in Contracts

Licensor’s Remedies. In the event of any such default by Licensee, Licensor may at any time after expiration of the applicable cure period: (i) terminate this Agreement and Licensee’s right to occupancy of the Premises by any lawful means, in which case Licensee shall vacate the Premises within a reasonably practical period of time thereafter. In such event, Licensor shall be entitled to recover from Licensee all reasonable damages incurred by Licensor by reason of Licensee’s default; (ii) maintain Licensee’s right to occupancy in which case this Agreement shall continue in effect. In such event, Licensor shall be entitled to enforce all of Licensor’s rights and remedies under this Agreement, including the right to recover the Fees due hereunder; or (iii) pursue any other remedy now or hereafter available to Licensor under the laws or judicial decisions of the state where the Premises are located. Unpaid installments of Base Annual Fee and Additional Fees and other unpaid monetary obligations of Licensee under the terms, covenants or conditions of this Agreement shall bear interest from the date due at the maximum rate then allowable by law. In the case of Licensee’s default as contemplated herein, Licensor shall have a duty to mitigate its damages.