Common use of Option to Rent Clause in Contracts

Option to Rent. (1) Landlord, without terminating this Lease, shall have the right to enter upon and take possession of the Premises without being liable to prosecution or any claim for damages therefor, and Landlord may relet the Premises or any part thereof for such Rent and upon such terms as Landlord deems appropriate in its sole discretion under the circumstances, (the “Mitigating Rent”) with the right to make alterations and improvements to the Premises required by any new tenant as to place the Premises in a first-class rentable condition. If an amount equal to the full Rent which would have been paid by Tenant hereunder, plus the expenses incurred by Landlord in connection with such reletting, including without limitation, costs of cleaning, painting, repairing or refitting the Premises, advertising, broker fees, municipal fees and legal fees for preparation and negotiation of the replacement lease (the “Relet Charges”), shall not be realized by Landlord in connection with such reletting, Tenant shall remain liable for all damages sustained by Landlord, including without limitation, any deficiency between the Mitigating Rent and the Rent and Relet Charges. (2) Should that portion of the amounts received by Landlord as the Mitigating Rent during any month be less than the Rent payable during that month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord immediately upon Landlord’s demand therefor, and such amount shall accrue interest at the Interest Rate from the date of demand until payment is received by Landlord in full. Landlord shall have the right to bring suit for collection of Rent on a monthly basis without prejudice to Landlord’s right to enforce collection of Rent for any subsequent month or, at Landlord’s option, may be deferred until the expiration of the Term of this Lease, in which event Tenant hereby agrees that the cause of action shall not be deemed to have accrued until the date of the scheduled expiration of the Term of this Lease. (3) Notwithstanding any provision hereof to the contrary, Landlord shall have no obligation or duty to relet or attempt to relet the Premises, and Landlord’s failure to relet the Premises shall not release or affect Tenant’s liability hereunder. Without in any way limiting the foregoing, Landlord shall have no obligation to relet the Premises or any portion thereof in preference or priority to any other space Landlord may have available for rent in the Building or the Campus, and, if Landlord endeavors or does rent the Premises or any portion thereof, it shall do so to further its own interest and shall not act as agent for Tenant with regard to any economic interest which Tenant may otherwise claim with respect to the Premises unless Landlord, by supplemental written agreement, is contracted by Tenant to do so.

Option to Rent. (1) Landlord, without terminating this Lease, shall have the right to enter upon and take possession of the Premises without being liable to prosecution or any claim for damages therefor, and Landlord may relet the Premises or any part thereof for such Rent and upon such terms as Landlord deems appropriate in its sole discretion under the circumstances, (the “Mitigating Rent”) with the right to make alterations and improvements to the Premises required by any new tenant as to place the Premises in a first-class rentable condition. If an amount equal to the full Rent which would have been paid by Tenant hereunder, plus the expenses incurred by Landlord in connection with such reletting, including without limitation, costs of cleaning, painting, repairing or refitting the Premises, advertising, broker fees, municipal fees and legal fees for preparation and negotiation of the replacement lease (( the “Relet Charges”), shall not be realized by Landlord in connection with such reletting, Tenant shall remain liable for all damages sustained by Landlord, including without limitation, any deficiency between the Mitigating Rent and the Rent and Relet Charges. (2) Should that portion of the amounts received by Landlord as the Mitigating Rent during any month be less than the Rent payable during that month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord immediately upon LandlordXxxxxxxx’s demand therefor, and such amount shall accrue interest at the Interest Rate from the date of demand until payment is received by Landlord paid in full. Landlord shall have the right to bring suit for collection of Rent on a monthly basis without prejudice to Landlord’s right to enforce collection of Rent for any subsequent month or, at Landlord’s option, may be deferred until the expiration of the Term of this Lease, in which event Tenant hereby agrees that the cause of action shall not be deemed to have accrued until the date of the scheduled expiration of the Term of this Lease. (3) Notwithstanding any provision hereof to the contrary, Landlord shall have no obligation or duty to relet or attempt to relet the Premises, and LandlordXxxxxxxx’s failure to relet the Premises shall not release or affect TenantXxxxxx’s liability hereunder. Without in any way limiting the foregoing, Landlord shall have no obligation to relet the Premises or any portion thereof in preference or priority to any other space Landlord may have available for rent in the Building or the Campus, and, if Landlord endeavors or does rent the Premises or any portion thereof, ; it shall do so to further its own interest and shall not act as agent for Tenant with regard to any economic interest which Tenant may otherwise claim with respect to the Premises unless Landlord, by supplemental written agreement, is contracted by Tenant to do so.

Option to Rent. (1) Landlord, without terminating this Lease, shall have the right to enter upon and take possession of the Premises without being liable to prosecution or any claim for damages therefortherefore, and Landlord may relet the Premises or any part thereof for such Rent and upon such terms as Landlord deems appropriate in its sole discretion under the circumstances, (the “"Mitigating Rent”") with the right to make alterations and improvements to the Premises required by any new tenant as to place the Premises in a first-class rentable condition. If an amount equal to the full Rent which would have been paid by Tenant hereunder, plus the REASONABLE expenses incurred by Landlord in connection with such reletting, including without limitation, costs of cleaning, painting, repairing or refitting the Premises, advertising, broker fees, municipal fees and legal fees for preparation and negotiation of the replacement lease (the “"Relet Charges”"), shall not be realized by Landlord in connection with such reletting, Tenant shall remain liable for all damages sustained by Landlord, including without limitation, any deficiency between the Mitigating Rent and the Rent and Relet Charges. (2) Should that portion of the amounts received by Landlord as the Mitigating Rent during any month be less than the Rent payable during that month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord immediately upon Landlord’s 's demand therefor, and such amount shall accrue interest at the Interest Rate from the date of demand until payment is received by Landlord paid in full. Landlord shall have the right to bring suit for collection of Rent on a monthly basis without prejudice to Landlord’s 's right to enforce collection of Rent for any subsequent month or, at Landlord’s 's option, may be deferred until the expiration of the Term of this Lease, in which event Tenant hereby agrees that the cause of action shall not be deemed to have accrued until the date of the scheduled expiration of the Term of this Lease. (3) Notwithstanding any provision hereof to the contrary, contrary Landlord shall have has no statutory obligation or duty to relet or attempt to relet the Premises, and Landlord’s 's failure to relet the Premises shall not release or affect Tenant’s 's liability hereunder. LANDLORD, WILL HOWEVER, USE COMMERCIALLY REASONABLE EFFORTS TO RELET THE PREMISES. TENANT ACKNOWLEDGES THAT LANDLORD MAY HAVE COMPETING PROPERTIES AVAILABLE AND NOTHING CONTAINED HEREIN SHALL OBLIGATE LANDLORD TO PLACE THE TENANT'S PREMISES IN A HIGH POSITION FOR LET. Without in any way limiting the foregoing, Landlord shall have no obligation to relet the Premises or any portion thereof in preference or priority to any other space Landlord may have available for rent in the Building or the Campus, and, if If Landlord endeavors or does rent the Premises or any portion thereof, it shall do so to further its own interest and shall not act as agent for Tenant with regard to any economic interest which Tenant may otherwise claim with respect to the Premises unless Landlord, by supplemental written agreement, is contracted by Tenant to do so.