Common use of Possession Termination Damages Clause in Contracts

Possession Termination Damages. If Landlord terminates Tenant’s right to possession without terminating this Lease and Landlord takes possession of the Premises itself, Landlord may relet any part of the Premises for such Rent, for such time, and upon such terms as Landlord in its commercially reasonable discretion shall determine, without any obligation to do so prior to renting other vacant areas in the Building provided that Landlord must make reasonable efforts to relet the Premises and otherwise mitigate its damages. Any proceeds from reletting the Premises shall first be applied to the expenses of relating, including redecoration, repair, alteration, advertising, brokerage, legal, and other reasonably necessary expenses, all of which shall be amortized on a straight-line basis over the term of the new lease and Landlord’s damages shall include only that portion attributable to the remaining term of this Lease. If the reletting proceeds after payment of expenses are insufficient to pay the full amount of Rent under this Lease, Tenant shall pay such deficiency to Landlord monthly upon demand as it becomes due. Any excess proceeds shall be retained by Landlord.

Possession Termination Damages. If Landlord terminates Tenant’s right to possession without terminating the Lease in accordance with this Lease Section 13 and Landlord takes possession of the Premises itself, Landlord may will use commercially reasonable efforts to relet any part of the Premises for such Rent, for such time, and upon such terms as Landlord in its commercially reasonable sole discretion shall determine, without any obligation to do so prior to renting other vacant areas in the Building provided that Landlord must make reasonable efforts to relet the Premises and otherwise mitigate its damagesProject. Any proceeds from reletting the Premises shall first be applied to the expenses of relatingreletting, including redecorationrepairs, repair, alterationunamortized costs of any alterations or improvements to the Premises made and/or paid by Landlord, advertising, brokerageunamortized brokerage commissions incurred by Landlord with respect to this Lease, legallegal fees and expenses, and other reasonably necessary expenses, all of which shall be amortized on a straight-line basis over the term of the new lease and Landlord’s damages shall include only that portion attributable to the remaining term of this Lease. If the reletting proceeds after payment of expenses are insufficient to pay the full amount of Rent under this Lease, Tenant shall pay such deficiency to Landlord monthly upon demand as it becomes due. Any excess proceeds shall be retained by Landlord.