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

PERFORMANCE OF OBLIGATIONS OF LESSEE BY LESSOR. In the event that the Lessee shall fail duly and promptly to perform any of its obligations under the provisions of this Lease, the Lessor may, at its option, perform the same for the account of Lessee without thereby waiving such default, and any amount paid or expense (including reasonable attorneys' fees), penalty or other liability incurred by the Lessor in such performance, together with interest at the rate of 1 1/2% per month thereon until paid by the Lessee to the Lessor, shall be payable by the Lessee upon demand as additional rent for the Equipment.

Appears in 2 contracts

Samples: Equipment Lease (Vialog Corp), Equipment Lease (Call Points Inc)

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PERFORMANCE OF OBLIGATIONS OF LESSEE BY LESSOR. In the event that the Lessee shall fail duly and promptly to perform any of its obligations under the provisions of this Lease, the Lessor may, at its option, perform the same for the account of Lessee without thereby waiving such default, and any amount paid or expense (including reasonable attorneys' fees), penalty or other liability incurred by the Lessor in such performance, together with interest at the rate of 1 1/2% per month thereon until paid by the Lessee to the Lessor, shall be payable by the Lessee upon demand as additional rent for the Equipment.

Appears in 1 contract

Samples: Equipment Lease (Silvergraph International Inc)

PERFORMANCE OF OBLIGATIONS OF LESSEE BY LESSOR. In the event that the Lessee shall fail duly and promptly to perform any Event of its obligations under the provisions of this LeaseDefault (as defined below), the Lessor may, at its option, perform the same for the account of Lessee without thereby waiving such defaultEvent of Default, and any reasonable amount paid or expense (including reasonable attorneys' fees), penalty or other liability incurred by the Lessor in such performance, together with interest at the rate of one and one-half (1 1/2% %) percent per month thereon until paid by the Lessee to the Lessor, shall be payable by the Lessee upon demand as additional rent ("Additional Rent") for the Equipment.

Appears in 1 contract

Samples: Sublease Agreement (GTC Biotherapeutics Inc)

PERFORMANCE OF OBLIGATIONS OF LESSEE BY LESSOR. In the event that the Lessee shall fail duly and to promptly to perform any of its obligations under any provision of the provisions of Lease and this Master Lease, the Lessor may, at its option, perform the same for the account of Lessee without thereby waiving such default, and any amount paid or expense (including reasonable attorneys' fees), penalty or other liability incurred by the Lessor in such performance, together with interest at the rate of 1 1/2% eighteen percent (18%) per month annum thereon until paid by the Lessee to the Lessor, shall be payable by the Lessee upon demand as additional rent for the Equipment.

Appears in 1 contract

Samples: Master Lease of Personal Property (Winland Electronics Inc)

PERFORMANCE OF OBLIGATIONS OF LESSEE BY LESSOR. In the event that the Lessee shall fail duly and promptly to perform any of its obligations under the provisions of articles 6, 7 and 8 of this Leaselease to be performed by the Lessee, the Lessor may, at its option, immediately or at any time thereafter perform the same for the account of Lessee without thereby waiving such default, and any amount paid or expense (including reasonable attorneys' fees), penalty or other liability incurred by the Lessor in such performance, together with interest at the rate of 1 1/218% per month annum thereon until paid by the Lessee to the Lessor, shall be payable by the Lessee upon demand as additional rent for the Equipmentleased equipment.

Appears in 1 contract

Samples: Lease Agreement

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PERFORMANCE OF OBLIGATIONS OF LESSEE BY LESSOR. In the event that the Lessee shall fail duly and promptly to perform any Event of its obligations under the provisions of this LeaseDefault (as defined below), the Lessor may, at its option, perform the same for the account of Lessee without thereby waiving such defaultEvent of Default, and any reasonable amount paid or expense (including reasonable attorneys' fees), penalty or other liability incurred by the Lessor in such performance, together with interest at the rate of one and one-half (1 1/2% -1/2%) percent per month thereon until paid by the Lessee to the Lessor, shall be payable by the Lessee upon demand as additional rent ("Additional Rent") for the Equipment.

Appears in 1 contract

Samples: Sublease Agreement (Antigenics Inc /De/)

PERFORMANCE OF OBLIGATIONS OF LESSEE BY LESSOR. In the event that If the Lessee shall fail duly and promptly to perform any of its obligations under the provisions of Sections 6, 7, and 8 of this LeaseLease to be performed by the Lessee, the Lessor may, at its option, immediately or at any time thereafter perform the same for the account of Lessee without thereby waiving such default, and any amount paid or expense (including reasonable attorneys' fees), penalty or other liability incurred by the Lessor in such performance, together with interest at the rate of 1 1/29% per month annum thereon until paid by the Lessee to the Lessor, shall be payable by the Lessee upon demand as additional rent for the Equipment.

Appears in 1 contract

Samples: Equipment Lease (Alliance Pharmaceutical Corp)

PERFORMANCE OF OBLIGATIONS OF LESSEE BY LESSOR. In the event that the Lessee shall fail duly and promptly to perform any of its obligations under the provisions of this Leaselease, the Lessor may, at its option, perform the same for the account of Lessee without thereby waiving such default, and any amount paid or expense expenses (including reasonable attorneys' fees), penalty or and other liability incurred by the Lessor in such performance, together with interest at the applicable rate of 1 1/2% per month thereon stated in Paragraph 5 until paid by the Lessee to the Lessor, shall be payable by the Lessee upon demand as additional rent for the Equipment.

Appears in 1 contract

Samples: Equipment Lease (Geokinetics Inc)

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