Common use of PROVIDED ALWAYS AND IT IS HEREBY Clause in Contracts

PROVIDED ALWAYS AND IT IS HEREBY. EXPRESSLY AGREED BETWEEN BOTH PARTIES as follows :- (a) If at any time the rent or any part thereof (whether formally demanded or not) shall remain or unsatisfied for seven (7) days after becoming payable or if any of the Tenant’s covenants shall not be performed or observed or if the Tenant shall suffer execution on the Demised Premises or if the Tenant shall become a bankrupt or being a company or corporation shall go into liquidation otherwise than for the purpose of amalgamation or reconstruction or if the Tenant for the time being shall enter into any composition with the Tenant’s creditors or suffer any distress or execution to be levied on the Tenant’s good then and in any of those events it shall be lawful for the Landlord or any persons authorized by the Landlord in that behalf at any time thereafter to reenter upon the said Demised Premises or any part thereof in the name of the whole and thereupon this tenancy shall absolutely determine without prejudice to any right of action or remedy of the Landlord in respect of any breach of the Tenant’s covenant herein contained. (b) In the event of the Demised Premises or part thereof shall at any time during the said term be damaged or destroyed by fire so as render the Demised Premises unfit for occupation and use and the Demised Premises shall not be rendered fit for occupation and use within TWO

PROVIDED ALWAYS AND IT IS HEREBY. EXPRESSLY AGREED BETWEEN BOTH PARTIES AND DECLARED as follows :follows: - (a) If at any time the rent reserved or any part thereof (whether formally demanded or not) shall remain or unsatisfied be unpaid for seven (7) days after becoming payable (whether legally or formally demanded or not) or if the Tenant shall fail or neglect to perform or observe any of term or condition herein contained and on the Tenant’s covenants shall not 's part to be performed or observed or if the Tenant shall suffer execution on become bankrupt or in the Demised Premises case of a limited company shall go into liquidation or if a petition for the Tenant's bankruptcy or winding up, as the case may be, shall have been filed or if the Tenant shall become a bankrupt or being a company or corporation shall go into liquidation otherwise than for the purpose of amalgamation or reconstruction or if the Tenant for the time being shall enter into any composition or arrangement with creditors or shall suffer the Tenant’s creditors 's goods or suffer any distress or execution other property to be levied on the Tenant’s good execution then and in any of those events the said cases it shall be lawful for the Landlord or any persons authorized by the Landlord in that behalf at any time thereafter to reenter upon determine this Agreement and to re-enter the said Demised Premises premises or any part thereof in the name of the whole and thereupon this tenancy shall absolutely determine but without prejudice to any right of action or remedy of the Landlord in respect of any breach of the Tenant’s covenant 's terms and conditions herein containedcontained and the deposit paid hereunder shall be forfeited to the Landlord but without prejudice to the Landlord's right to claim any further damages which the Landlord shall have sustained or may sustain and a written notice served by the Landlord on the Tenant to the effect that the Landlord thereby exercises the power of re-entry and determination hereinbefore contained shall be a full and sufficient exercise of such power. (b) In the event of any breach of any term or condition on the Demised Premises part of the Tenant herein contained, the Landlord shall not by acceptance of rent or by any other act whatsoever or by any omission be deemed to have waived any such breach of term or condition notwithstanding any rule of law or equity to the contrary and that no consent to or waiver of any breach shall be binding on the Landlord unless the same is in writing of the Landlord. Notwithstanding anything hereinbefore contained in the event of default in payment by the Tenant in respect of any payments to be made hereunder for a period of seven days from the date on which the same falls due for payment, the Tenant shall further pay to the Landlord on demand interest on the amount in arrears at the rate of 1.5 per cent (1.5)% per (c) For the purpose of this Agreement any act default neglect or omission of any servant, agent, licensee, visitor and invitee of the Tenant shall be deemed to be the act default neglect or omission of the Tenant. (d) In the event of the said premises or any part thereof shall at any time during the said term be being damaged or destroyed by acts of war fire typhoon earthquake flood white ants or subsidence of the soil so as to render the Demised Premises same unfit for occupation and use and the Demised Premises cause of which is not attributable to the acts or omission of the Tenant then the rent hereby reserved or a fair proportion thereof according to the nature and extent of the damage sustained shall not cease to be payable until the said premises shall have been again rendered fit for occupation and use PROVIDED ALWAYS that should the whole of the said premises or the greater part thereof be so destroyed or damaged by the happening of any of the above events as to be unfit for use and occupation the Landlord shall not be required to rebuild or reinstate the said premises or the said building if by reason of the condition of the same or any local Regulations or other circumstances beyond the control of the Landlord it is not practicable or reasonable to do so Provided that if the Landlord shall fail to reinstate or cause to be reinstated the said premises or the said building within TWOsix months of receiving a written notice to reinstate the same from the Tenant or if the said premises or the greater part thereof or the said building remain uninhabitable or inaccessible for a period of one month the Tenant may forthwith or within a reasonable time thereafter by a written notice terminate this Agreement and thereupon the same and everything herein contained shall be void as from the date of occurrence of such damage or destruction and the Landlord shall forthwith refund to the Tenant the said deposit or the balance thereof but without prejudice to the rights and remedies of either party against the other in respect of any antecedent claim or breach or covenant. (e) Any notice required to be served hereunder shall be sufficiently served on the Tenant if delivered or sent by post or left addressed to it at the said premises or at its registered office in Hong Kong and any notice to the Landlord shall be sufficiently served if sent to the Landlord by post at the Landlord's registered office in Hong Kong. A notice sent by post shall be deemed to have been received at the time when in due course of post it would be delivered at the address to which it is sent. (f) For the purpose of distress for rent in terms of Part III of the Landlord and Tenant (Consolidation) Ordinance (Cap. 7) and for the purpose of this Agreement the rent in respect of the said premises shall be deemed to be in arrears if not paid in advance at the time and in the manner hereinbefore provided for payment thereof.