Common use of PERFORMANCE OF OBLIGATIONS OF LESSEE BY LESSOR Clause in Contracts

PERFORMANCE OF OBLIGATIONS OF LESSEE BY LESSOR. If Lessee fails to promptly perform any of its obligations under this Lease, Lessor may perform the same for the account of Lessee without waiving Lessee's failure as a default. All sums paid or expense or liability incurred by Lessor in such performance (including reasonable legal fees) together with interest thereon at the highest contractual rate enforceable against Lessee, but never at a higher rate than 15% per annum simple, shall be payable by the Lessee upon demand as additional rent.

Appears in 4 contracts

Samples: Finance Lease (SMT Health Services Inc), Finance Lease (SMT Health Services Inc), Finance Lease (SMT Health Services Inc)

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PERFORMANCE OF OBLIGATIONS OF LESSEE BY LESSOR. If Lessee fails to promptly perform any of its obligations under this Lease, Lessor may perform the same for the account of Lessee without waiving Lessee's failure as a default. All sums paid or expense or liability incurred by Lessor in such performance (including reasonable legal fees) together with interest thereon at the highest contractual contract rate enforceable against Lessee, but never at a higher rate than fifteen percent (15% %) per annum simplesimple interest, shall be payable by the Lessee upon demand as additional rent.

Appears in 3 contracts

Samples: Master Lease Agreement (Whiteford Partners L P), Master Lease Agreement (Carbide Graphite Group Inc /De/), Master Lease Agreement (Judge Group Inc)

PERFORMANCE OF OBLIGATIONS OF LESSEE BY LESSOR. If Lessee fails to perform duly and promptly perform any of its obligations under this Lease, Lessor may perform the same same, but shall not be obligated to do so, for the account of Lessee without waiving Lessee's failure as a defaultto protect the interest of Lessor or Lessee or both, at Lessor’s option. All sums Any amount paid or expense (including reasonable attorney’s fees), penalty or other liability incurred by Lessor in such performance (including reasonable legal fees) together with interest thereon at the highest contractual rate enforceable against Lessee, but never at a higher rate than 15% per annum simple, shall will be payable by the Lessee upon demand as additional rent.rent for the FF&E.

Appears in 3 contracts

Samples: Management & Services Agreement (National Vision Holdings, Inc.), Management & Services Agreement (National Vision Holdings, Inc.), Management & Services Agreement (National Vision Holdings, Inc.)

PERFORMANCE OF OBLIGATIONS OF LESSEE BY LESSOR. If Lessee fails to promptly perform any of its obligations under this Lease, Lessor may perform the same for the account of Lessee without waiving Lessee's failure as a default. All sums paid or expense or liability incurred by Lessor in such performance (including reasonable legal fees) together with interest thereon at the highest contractual contract rate enforceable against Lessee, but never at a higher rate than fifteen percent (15% %) per annum simplesimple interest, shall be payable by the Lessee upon demand as additional rent.

Appears in 1 contract

Samples: Master Lease Agreement (MTR Gaming Group Inc)

PERFORMANCE OF OBLIGATIONS OF LESSEE BY LESSOR. If Lessee fails to promptly perform any of its obligations under this Lease, Lessor may perform the same for the account of Lessee without waiving Lessee's failure as a defaultdefault . All sums paid or expense or liability incurred by Lessor in such performance (including reasonable legal fees) together with interest thereon at the highest contractual contract rate enforceable against Lessee, but never at a higher rate than fifteen percent (15% %) per annum simplesimple interest, shall be payable by the Lessee upon demand as additional rent.

Appears in 1 contract

Samples: Master Lease Agreement (Media Sciences International Inc)

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PERFORMANCE OF OBLIGATIONS OF LESSEE BY LESSOR. If In the event Lessee fails shall fail to promptly perform any of its obligations under any provision of this Lease, Lessor may may, at its option, perform the same for the account of Lessee without with out thereby waiving Lessee's failure as a such default. All sums , and any amount paid or expense (including reasonable attorneys' fees), penalty or other liability incurred by Lessor in such performance (including reasonable legal fees) performance, together with interest thereon at the highest contractual rate enforceable against Lessee, but never at a higher rate than 15% of eighteen (18%) per annum simplethereon until paid by Lessee, shall be payable by the Lessee upon demand as additional rentrent for the Equipment.

Appears in 1 contract

Samples: Lease of Personal Property (Integrated Performance Systems Inc)

PERFORMANCE OF OBLIGATIONS OF LESSEE BY LESSOR. If In the event that ---------------------------------------------- Lessee fails shall fail duly and promptly to promptly perform any of its obligations under this LeaseAgreement, Lessor may may, at its option, perform the same for the account of Lessee without thereby waiving Lessee's failure as a such default. All sums , and any amount paid or expense (including reasonable attorneys' fees and costs), penalty or other liability incurred by Lessor in such performance (including reasonable legal fees) performance, together with interest thereon at the highest contractual rate enforceable against Lessee, but never at a higher rate than 15of 1-1/2% per annum simplemonth thereon until paid by Lessee to Lessor, shall be payable by the Lessee upon demand as additional rentrent for the Equipment.

Appears in 1 contract

Samples: Equipment Lease (Tarrant Apparel Group)

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