Reletting. In the event of the abandonment of the Premises by Tenant or in the event that Landlord shall elect to re-enter or shall take possession of the Premises pursuant to legal proceeding or pursuant to any notice provided by law, then if Landlord does not elect to terminate this Lease as provided in Paragraph a, Landlord may from time to time, without terminating this Lease, relet the Premises or any part thereof for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premises. In the event that Landlord shall elect to so relet, then rentals received by Landlord from such reletting shall be applied in the following order: (1) to reasonable attorneys’ fees incurred by Landlord as a result of a Default and costs in the event suit is filed by Landlord to enforce such remedies; (2) to the payment of any indebtedness other than Rent due hereunder from Tenant to Landlord; (3) to the payment of any costs of such reletting; (4) to the payment of the costs of any alterations and repairs to the Premises; (5) to the payment of Rent due and unpaid hereunder; and (6) the residue, if any, shall be held by Landlord and applied in payment of future Rent and other sums payable by Tenant hereunder as the same may become due and payable hereunder. Should that portion of such rentals received from such reletting during any month, which is applied to the payment of Rent hereunder, be less than the Rent payable during the month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertained, any costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received from such reletting.
Appears in 4 contracts
Samples: Lease (Clean Energy Fuels Corp.), R&d Lease (Harmonic Inc), Industrial Lease (InvenSense Inc)
Reletting. In Tenant acknowledges that Landlord has entered into this Lease in reliance upon, among other matters, Tenant’s agreement and continuing obligation to pay all Rent due throughout the event Term. As a result, Tenant hereby knowingly and voluntarily waives, after advice of competent counsel, any duty of Landlord (and any affirmative defense based upon such duty) following any default to relet the Premises or otherwise mitigate Landlord’s damages arising from such default. If such waiver is not effective under then applicable law or Landlord otherwise elects, at Landlord’s sole option, to attempt to relet all or any part of the abandonment Premises, Tenant agrees that Landlord has no obligation to: (i) relet the Premises prior to leasing any other space within the Building; (ii) relet the Premises (A) at a rental rate or otherwise on terms below market, as then determined by Landlord in its sole discretion; (B) to any entity not satisfying Landlord’s then standard financial credit risk criteria; (C) for a use (1) not consistent with Tenant’s use prior to default; (2) which would violate then applicable law or any restrictive covenant or other lease affecting the Building; (3) which would impose a greater burden upon the Building’s parking, HVAC or other facilities; and/or (4) which would involve any use of Hazardous Substances; (iii) divide the Premises, install new demising walls or otherwise reconfigure the Premises to make same more marketable; (iv) pay any leasing or other commissions arising from such reletting, unless Tenant unconditionally delivers Landlord, in good and sufficient funds, the full amount thereof in advance; (v) pay, and/or grant any allowance for, tenant finish or other costs associated with any new lease, even though same may be amortized over the applicable lease term, unless Tenant unconditionally delivers Landlord, in good and sufficient funds, the full amount thereof in advance; and/or (vi) relet the Premises, if to do so, Landlord would be required to alter other portions of the Building, make ADA-type modifications or otherwise install or replace any sprinkler, security, safety, HVAC or other Building operating systems. Tenant further acknowledges that if Tenant, notwithstanding Tenant’s waiver above, raises Landlord’s mitigation as an affirmative defense to a claim made by Landlord prior to any actual reentry of the Premises by Landlord then, in such event, Tenant or in the event that Landlord shall elect will be deemed to re-enter or shall take possession of the Premises pursuant to legal proceeding or pursuant to any notice provided by lawhave automatically waived, then if Landlord does not elect to terminate this Lease as provided in Paragraph a, Landlord may from time to time, without terminating this Lease, relet the Premises or any part thereof for such term or terms and at such rental or rentals released and upon such other terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premises. In the event that Landlord shall elect to so relet, then rentals received by discharged Landlord from such reletting shall be applied in the following order: (1) to reasonable attorneys’ fees incurred by Landlord as a result of a Default and costs in the event suit is filed by Landlord to enforce such remedies; (2) against, any and all other claims and defenses to the payment of any indebtedness other than Rent due hereunder from Tenant to Landlord; (3) to the payment of any costs of such reletting; (4) to the payment of the costs of any alterations and repairs to the Premises; (5) to the payment of Rent due and unpaid hereunder; and (6) the residue, if any, shall be held by Landlord and applied in payment of future Rent and other sums payable by Tenant hereunder as the same may become due and payable hereunder. Should that portion of such rentals received from such reletting during any month, which is applied to the payment of Rent hereunder, be less than the Rent payable during the month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertained, any costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received from such relettingRent.
Appears in 4 contracts
Samples: Lease Agreement (Realogy Corp), Lease Agreement (Wells Real Estate Investment Trust Inc), Lease Agreement (Wells Real Estate Investment Trust Inc)
Reletting. In the event of the abandonment of the Premises by Tenant or in the event that Landlord shall elect to re-enter or shall take possession of the Premises pursuant to legal proceeding or pursuant to any notice provided by law, then if Landlord does not elect to terminate this Lease as provided in Paragraph a, Landlord may from time to time, without terminating this Lease, relet the Premises or any part thereof for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premises. In the event that Landlord shall elect to so relet, then rentals received by Landlord from such reletting shall be applied in the following order: (1) to reasonable attorneys’ ' fees incurred by Landlord as a result of a Default and costs in the event suit is filed by Landlord to enforce such remedies; (2) to the payment of any indebtedness other than Rent due hereunder from Tenant to Landlord; (3) to the payment of any costs of such reletting; (4) to the payment of the costs of any alterations and repairs to the Premises; (5) to the payment of Rent due and unpaid hereunder; and (6) the residue, if any, shall be held by Landlord and applied in payment of future Rent and other sums payable by Tenant hereunder as the same may become due and payable hereunder. Should that portion of such rentals received from such reletting during any month, which is applied to the payment of Rent hereunder, be less than the Rent payable during the month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertained, any costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received from such reletting.
Appears in 3 contracts
Samples: Industrial Lease (Excaliber Enterprises, Ltd.), Lease Agreement (Omneon Video Networks, Inc.), Lease Agreement (Suntek Corp)
Reletting. In the event of the abandonment of the Premises by Tenant or in the event that Landlord shall elect to re-enter or shall take possession of the Premises pursuant to legal proceeding or pursuant to any notice provided by law, then if Landlord does not elect to terminate this Lease as provided in Paragraph a, Landlord may from time to time, without terminating this Lease, relet the Premises or any part thereof for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premises. In the event that Landlord shall elect to so relet, then rentals received by Landlord from such reletting shall be applied in the following order: (1) to reasonable attorneys’ fees incurred by Landlord as a result of a Default and costs in the event suit is filed by Landlord to enforce such remedies; (2) to the payment of any indebtedness other than Rent due hereunder from Tenant to Landlord; (3) to the payment of any costs of such reletting; (4) to the payment of the costs of any alterations and repairs to the Premises; (5) to the payment of Rent due and unpaid hereunder; and (6) the residue, if any, shall be held by Landlord and applied in payment of future Rent and other sums payable by Tenant hereunder as the same may become due and payable hereunder. Should that portion of such rentals received from such reletting during any month, which is applied to the payment of Rent hereunder, be less than the Rent payable during the month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertained, any costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received from such reletting.; provided, Tenant shall not be obligated to Landlord for any such costs attributable to the removal (or repair following removal) of the Tenant Improvements described in Exhibit F.
Appears in 3 contracts
Samples: Lease (Pacific Biosciences of California Inc), Lease (Pacific Biosciences of California Inc), Lease (Pacific Biosciences of California Inc)
Reletting. In the event of the abandonment of the Premises by Tenant or in the event that Landlord shall elect to re-enter as provided in Paragraph 26(c) or shall take possession of the Premises pursuant to legal proceeding or pursuant to any notice provided by law, then if Landlord does not elect to terminate this Lease as provided in Paragraph aXxxxxxxxx 00(x), Landlord Xxxxxxxx may from time to time, without terminating this Lease, relet the Premises or any part thereof for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the PremisesPremises in Landlord's sole discretion. In the event that Landlord shall elect to so relet, then rentals received by Landlord from such reletting shall be applied in the following order: :
(1) to reasonable attorneys’ ' fees incurred by Landlord as a result of a Default and costs in the event suit is filed by Landlord to enforce such remedies; (2) to the payment of any indebtedness other than Rent due hereunder from Tenant to Landlord; (3) to the payment of any costs of such reletting; (4) to the payment of the costs of any alterations and repairs to the Premises; (5) to the payment of Rent due and unpaid hereunder; and (6) the residue, if any, shall be held by Landlord and applied in payment of future Rent and other sums payable by Tenant hereunder as the same may become due and payable hereunder. Should that portion of such rentals received from such reletting during any month, which is applied to the payment of Rent hereunder, be less than the Rent payable during the month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertained, any costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received from such reletting.
Appears in 3 contracts
Samples: Lease Agreement (Mohawk Industries Inc), Lease Agreement (Finisar Corp), Lease Agreement (Arthrocare Corp)
Reletting. In the event of the abandonment of the Premises by --------- Tenant or in the event that Landlord shall elect to re-enter or shall take possession of the Premises pursuant to legal proceeding or pursuant to any notice provided by law, then if Landlord does not elect to terminate this Lease as provided in Paragraph a, Landlord may from time to time, without terminating this Lease, relet the Premises or any part thereof for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premises. In the event that Landlord shall elect to so relet, then rentals received by Landlord from such reletting shall be applied in the following order: :
(1) to reasonable attorneys’ ' fees incurred by Landlord as a result of a Default and costs in the event suit is filed by Landlord to enforce such remedies; (2) to the payment of any indebtedness other than Rent due hereunder from Tenant to Landlord; (3) to the payment of any costs of such reletting; (4) to the payment of the costs of any alterations and repairs to the Premises; (5) to the payment of Rent due and unpaid hereunder; and (6) the residue, if any, shall be held by Landlord and applied in payment of future Rent and other sums payable by Tenant hereunder as the same may become due and payable hereunder. Should that portion of such rentals received from such reletting during any month, which is applied to the payment of Rent hereunder, be less than the Rent payable during the month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertained, any costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received from such reletting.
Appears in 3 contracts
Samples: Lease (Kyphon Inc), Industrial Multi Tenant Lease (Cost U Less Inc), Lease (Kyphon Inc)
Reletting. In the event of the abandonment of the Premises by Tenant or in the event that Landlord shall elect to re-enter as provided in Section 20.2 or shall take possession of the Premises pursuant to legal proceeding or pursuant to any notice provided by law, then if Landlord does not elect to terminate this Lease as provided in Paragraph aSection 20.2, Landlord may from time to time, without terminating this Lease, relet the Premises or any part thereof for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the PremisesPremises in Landlord’s sole discretion. In the event that Landlord shall elect to so relet, then rentals received by Landlord from such reletting shall be applied in the following order: (1i) to reasonable attorneys’ fees incurred by Landlord as a result of a Default and costs in the event suit is filed by Landlord to enforce such remedies; (2ii) to the payment of any indebtedness other than Rent due hereunder from Tenant to Landlord; (3iii) to the payment of any costs of such reletting; (4iv) to the payment of the costs of any alterations and repairs to the Premises; (5v) to the payment of Rent due and unpaid hereunder; and (6vi) the residue, if any, shall be held by Landlord and applied in payment of future Rent and other sums payable by Tenant hereunder as the same may become due and payable hereunder. Should that portion of such rentals received from such reletting during any month, which is applied to the payment of Rent hereunder, be less than the Rent payable during the month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertained, any costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received from such reletting.
Appears in 3 contracts
Samples: Lease Agreement (Dolby Laboratories, Inc.), Lease Agreement (Dolby Laboratories, Inc.), Lease Agreement (Dolby Laboratories, Inc.)
Reletting. In the event (1) Upon termination of the abandonment this Lease or expiration of Tenant's right to occupy the Premises by Tenant reason of the happening of any of the foregoing events, or in the event that Landlord shall elect to re-enter any other manner or shall take possession circumstances whatsoever, whether with or without legal proceedings, by reason of the Premises pursuant to legal proceeding or pursuant to any notice provided by law, then if Landlord does not elect to terminate based upon or arising out of a default or breach of this Lease as provided in Paragraph aon the part of Tenant, Landlord may may, at its option, at any time and from time to time, without terminating this Lease, time relet the Premises or any part thereof or parts thereof, for such term the account of Tenant or terms otherwise, and at such rental or rentals receive and upon such other terms and conditions as Landlord in its sole discretion may deem advisable with collect the right to make alterations and repairs to rent therefore, applying the Premises. In the event that Landlord shall elect to so relet, then rentals received by Landlord from such reletting shall be applied in the following order: (1) to reasonable attorneys’ fees incurred by Landlord as a result of a Default and costs in the event suit is filed by Landlord to enforce such remedies; (2) same first to the payment of any indebtedness other than Rent due hereunder from Tenant to Landlord; (3) such expenses as Landlord may have incurred in recovering possession of the Premises, including the attorney's fees and expenses for putting the same into good order and condition or preparing or altering the same for re-rental to the payment extent Landlord deems necessary or desirable and all other commercially reasonable expenses, commissions and charges paid, assumed or incurred by Landlord in or about reletting the Premises and then to the fulfillment of the covenants of Tenant hereunder. Any such reletting herein provided for may be for the remainder of the initial term or any costs renewal term of this Lease, as originally granted, or for a longer or shorter period; Landlord shall have the right to change the character and use made of the Premises, and Landlord shall not be required to accept any substitute tenant offered by Tenant or to observe any instructions given by Tenant about reletting.
(2) In any such case, and whether or not the Premises or any part thereof be relet, Tenant shall pay to Landlord the Base Rent and all Additional Rent and other charges required to be paid by Tenant up to the later of the time of such reletting; (4) to the payment termination of the costs Lease or of such recovery of possession of the Premises by Landlord, as the case may be, and thereafter, except in a case in which liability of Tenant (as hereinafter provided), arises by reason of the happening of the insolvency of Tenant, Tenant covenants and agrees, if required by Landlord, to pay to Landlord until the end of the initial term of this Lease, or any alterations renewal term, as the case may be, the equivalent of the amount of all Rent reserved hereunder, and repairs all other charges required to be paid by Tenant, less the Premises; (5) net proceeds of reletting, if any. Landlord shall have the election in place of holding Tenant so liable forthwith to recover against Tenant as damages for loss of the payment bargain and not as a penalty, an aggregate sum which at the time of Rent due and unpaid hereunder; and (6) such termination of this Lease or of such recovery of possession of the residuePremises by Landlord, as the case may be, represents the then present worth of the excess, if any, shall be held by Landlord and applied in payment of future the aggregate of the Rent and all other sums charges payable by Tenant hereunder that would have accrued for the balance of the initial term, or any renewal term, as the same case may become due be, over the then present worth of the fair market rents and payable hereunder. Should that portion all other charges for the Premises for the balance of such rentals received from such reletting during any month, which is applied to the payment of Rent hereunder, be less than the Rent payable during the month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertained, any costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received from such relettingterm.
Appears in 2 contracts
Samples: Lease (Fourth Shift Corp), Lease (Fourth Shift Corp)
Reletting. In the event of the abandonment of the Premises by Tenant or in the event that Landlord shall elect to re-enter as provided in Paragraph 25(c) or shall take possession of the Premises pursuant to legal proceeding or pursuant to any notice provided by law, then if Landlord does not elect to terminate this Lease as provided in Paragraph aXxxxxxxxx 00(x), Landlord Xxxxxxxx may from time to time, without terminating this Lease, relet the Premises or any part thereof for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the PremisesPremises in Landlord's sole discretion. In the event that Landlord shall elect to so relet, then rentals received by Landlord from such reletting shall be applied in the following order: :
(1) to reasonable attorneys’ ' fees incurred by Landlord as a result of a Default and costs in the event suit is filed by Landlord to enforce such remedies; (2) to the payment of any indebtedness other than Rent due hereunder from Tenant to Landlord; (3) to the payment of any costs of such reletting; (4) to the payment of the costs of any alterations and repairs to the Premises; (5) to the payment of Rent due and unpaid hereunder; and (6) the residue, if any, shall be held by Landlord and applied in payment of future Rent and other sums payable by Tenant hereunder as the same may become due and payable hereunder. Should that portion of such rentals received from such reletting during any month, which is applied to the payment of Rent hereunder, be less than the Rent payable during the month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertained, any costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received from such reletting.
Appears in 2 contracts
Samples: Lease Agreement (Affymetrix Inc), Office Lease Agreement (Performance Capital Management LLC)
Reletting. In Landlord agrees to use reasonable efforts to relet the event of Tenant Space after Tenant vacates the abandonment of the Premises by Tenant or Space in the event that Landlord shall elect to re-enter or shall take possession the Lease is terminated following an Event of Default by Tenant hereunder. Marketing of the Premises pursuant Tenant Space in a manner similar to legal proceeding the manner in which Landlord markets other premises within Landlord’s control in the Building shall be deemed to have satisfied Landlord’s obligation to use “reasonable efforts.” If such waiver is not effective under then applicable law or pursuant to any notice provided by law, then if Landlord does not elect otherwise elects, at Landlord’s sole option, to terminate this Lease as provided in Paragraph a, Landlord may from time attempt to time, without terminating this Lease, relet the Premises all or any part thereof for such term of the Tenant Space, Tenant agrees that, in any event, Landlord has no obligation to: (i) relet the Tenant Space prior to leasing any other space within the Building; or (ii) relet the Tenant Space (A) at a rental rate or otherwise on terms and at such rental or rentals and upon such other terms and conditions below market, as then determined by Landlord in its sole discretion may deem advisable with the right discretion; (B) to make alterations and repairs to the Premises. In the event that Landlord shall elect to so relet, any entity not satisfying Landlord’s then rentals received by Landlord from such reletting shall be applied in the following order: standard financial credit risk criteria; (C) for a use (1) not consistent with Tenant’s use prior to reasonable attorneys’ fees incurred by Landlord as a result of a Default and costs in the event suit is filed by Landlord to enforce such remediesdefault; (2) to which would violate then applicable law or any restrictive covenant or other lease affecting the payment of any indebtedness other than Rent due hereunder from Tenant to LandlordBuilding; (3) to which would impose a greater burden upon the payment of any costs of such relettingBuilding’s facilities; or (4) which would involve any use of Hazardous Materials not in compliance with applicable Legal Requirements; (iii) solicit or entertain negotiations with any other prospective tenants for the Tenant Space until Landlord obtains full and complete possession of the Tenant Space, including, without limitation, the final and unappealable legal right to re-let the Tenant Space free of any claim of Tenant; or (iv) make any alterations to the payment of Tenant Space or the Building or otherwise incur any costs of in connection with any alterations and repairs to the Premises; (5) to the payment of Rent due and unpaid hereunder; and (6) the residuesuch reletting, if any, shall be held by Landlord and applied in payment of future Rent and other sums payable by unless Tenant hereunder as the same may become due and payable hereunder. Should that portion of such rentals received from such reletting during any month, which is applied to the payment of Rent hereunder, be less than the Rent payable during the month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay unconditionally delivers to Landlord, as soon as ascertainedin good and sufficient funds, any costs and expenses incurred by Landlord the full amount thereof in such reletting or in making such alterations and repairs not covered by the rentals received from such relettingadvance.
Appears in 2 contracts
Samples: Datacenter Lease (Endurance International Group Holdings, Inc.), Datacenter Lease (Constant Contact, Inc.)
Reletting. In the event of the abandonment of the Premises by Tenant or in the event that Landlord shall elect to re-enter or shall take possession of the Premises pursuant to legal proceeding or pursuant to any notice provided by lawPremises, then if Landlord does not elect to terminate this Lease as provided in Paragraph aSection (a)(i) above, Landlord may from time to time, without terminating this Lease, relet the Premises or any part thereof for such term team or terms and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premises. In the event that Landlord shall elect to so reletrelease, then rentals received by Landlord from such reletting shall be applied in the following order: (1) to reasonable attorneys’ fees incurred by Landlord as a result of a Default and costs in the event suit is filed by Landlord to enforce such remedies; (2) to the payment of any indebtedness other than Rent due hereunder from Tenant to Landlord; (3) to the payment of any costs of such relettingreletting (amortized as set forth in Section (a)(3) above); (4) to the payment of the costs of any alterations and repairs to the PremisesPremises (amortized as set forth in Section (a)(3) above); (5) to the payment of Rent due and unpaid hereunder; and (6) the residue, if any, shall be held by Landlord and applied in payment of future Rent and other sums payable by Tenant hereunder as the same may become due and payable hereunder. Should hereunder should that portion of such rentals received from such reletting during any month, which is applied to the payment of Rent hereunder, be less than the Rent payable during the month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertained, any costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received from such relettingreletting (amortized as set forth in Section (a)(3) above).
Appears in 2 contracts
Samples: Industrial Multi Tenant Lease (Extend Health Inc), Industrial Multi Tenant Lease (Extend Health Inc)
Reletting. In the event of the abandonment of the Premises by Tenant or in the event that Landlord shall elect to re-enter as provided in Paragraph 25(c) or shall take possession of the Premises pursuant to legal proceeding or pursuant to any notice provided by law, then if Landlord does not elect to terminate this Lease as provided in Paragraph aXxxxxxxxx 00(x), Landlord Xxxxxxxx may from time to time, without terminating this Lease, relet the Premises or any part thereof for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premises. In the event that Landlord shall elect to so relet, then rentals received by Landlord from such reletting shall be applied in the following order: (1) to reasonable attorneys’ fees incurred by Landlord as a result of a Default and costs in the event suit is filed by Landlord to enforce such remedies; (2) to the payment of any indebtedness other than Rent due hereunder from Tenant to Landlord; (3) to the payment of any reasonable costs of such reletting; (4) to the payment of the costs of any reasonable alterations and repairs to the Premises; (5) to the payment of Rent due and unpaid hereunder; and (6) the residue, if any, shall be held by Landlord and applied in payment of future Rent and other sums payable by Tenant hereunder as the same may become due and payable hereunder. Should that portion of such rentals received from such reletting during any month, which is applied to the payment of Rent hereunder, be less than the Rent payable during the month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertained, any costs and expenses reasonably and necessarily incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received from such reletting.
Appears in 2 contracts
Samples: Lease Agreement (Aerohive Networks, Inc), Lease Agreement (Aerohive Networks, Inc)
Reletting. In the event of the abandonment of the Premises by Tenant or in the event that Landlord shall elect to re-enter as provided in Paragraph 25(c) or shall take possession of the Premises pursuant to legal proceeding or pursuant to any notice provided by law, then if Landlord does not elect to terminate this Lease as provided in Paragraph aParaxxxxx 00(x), Landlord may Xxxxxxxx xxx from time to time, without terminating this Lease, relet the Premises or any part thereof for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the PremisesPremises in Landlord's sole discretion. In the event that Landlord shall elect to so relet, then rentals received by Landlord from such reletting shall be applied in the following order: :
(1) to reasonable attorneys’ ' fees incurred by Landlord as a result of a Default and costs in the event suit is filed by Landlord to enforce such remedies; (2) to the payment of any indebtedness other than Rent due hereunder from Tenant to Landlord; (3) to the payment of any costs of such reletting; (4) to the payment of the costs of any alterations and repairs to the Premises; (5) to the payment of Rent due and unpaid hereunder; and (6) the residue, if any, shall be held by Landlord and applied in payment of future Rent and other sums payable by Tenant hereunder as the same may become due and payable hereunder. Should that portion of such rentals received from such reletting during any month, which is applied to the payment of Rent hereunder, be less than the Rent payable during the month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertained, any costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received from such reletting.
Appears in 2 contracts
Samples: Lease Agreement (Combichem Inc), Lease Agreement (Coulter Pharmaceuticals Inc)
Reletting. In the event of the abandonment of the Premises by Tenant or in the event that Landlord shall elect to re-enter or shall take possession of the Premises pursuant to legal proceeding or pursuant to any notice provided by law, then if Landlord does not elect to terminate this Lease as provided in Paragraph a, Landlord may from time to time, without terminating this Lease, relet the Premises or any part thereof for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premises. In the event that Landlord shall elect to so relet, then rentals received by Landlord from such reletting shall be applied in the following order: (1) to reasonable attorneys’ fees incurred by Landlord as a result of a Default and costs in the event suit is filed by Landlord to enforce such remedies; (2) to the payment of any indebtedness other than Rent due hereunder from Tenant to Landlord; (3) to the payment of any costs of such reletting; (4) to the payment of the costs of any alterations and repairs to the Premises; (5) to the payment of Rent due and unpaid hereunder; and (6) the residue, if any, shall be held by Landlord landlord and applied in payment of future Rent and other sums payable by Tenant hereunder as the same may become due and payable hereunder. Should that portion of such rentals received from such reletting during any month, which is applied to the payment of Rent hereunder, be less than the Rent payable during the month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertained, any costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received from such reletting.
Appears in 2 contracts
Samples: Industrial Lease (CAPSTONE TURBINE Corp), Industrial Lease (Capstone Turbine Corp)
Reletting. In the event After Tenant’s default (and for so long as Landlord does not terminate Tenant’s right to possession of the abandonment of Premises), Landlord may, to the extent allowable under the Laws, and in Landlord’s sole and absolute discretion (but without obligation) elect to enter into the Premises by and relet them, or any part of them, to third parties for Tenant’s account. Tenant shall be immediately liable to Landlord for all costs Landlord incurs in reletting the Premises, including brokers’ commissions, expenses of remodeling the Premises, and like costs. Reletting can be for a period shorter or in longer than the event that remaining Term of this Lease. Tenant will pay to Landlord shall elect the Rent due under this Lease on the dates the Rent is due, less the Rent Landlord receives from reletting. If Landlord elects to re-enter or shall take possession of relet the Premises pursuant to legal proceeding or pursuant to any notice provided by lawthis §15.2(c), then if Landlord does not elect to terminate this Lease as provided in Paragraph a, Landlord may from time to time, without terminating this Lease, relet the Premises or any part thereof for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premises. In the event Rent that Landlord shall elect to so relet, then rentals received by Landlord receives from such reletting shall will be applied in the following order: (1) to reasonable attorneys’ fees incurred by Landlord as a result of a Default and costs in the event suit is filed by Landlord to enforce such remedies; (2) to the payment of of:
(a) first, any indebtedness from Tenant to Landlord other than Rent due hereunder from Tenant to LandlordTenant; (3b) to the payment of any second, all costs, including costs of such incurred by Landlord in reletting; and (4c) to the payment of the costs of any alterations and repairs to the Premises; (5) to the payment of third, Rent due and unpaid hereunder; and (6) under this Lease. After deducting the residuepayments referred to above in this §15.2(c), if any, shall any sum remaining from the Rent Landlord receives from reletting will be held by Landlord and applied in payment of future Rent and other sums payable by Tenant hereunder as Rent becomes due under this Lease. If, on the same may become date Rent is due and payable hereunder. Should that portion of such rentals under this Lease, the Rent received from such the reletting during any month, which is applied to the payment of Rent hereunder, be less than the Rent payable during the month by due on that date, Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also will pay to Landlord, as soon as ascertainedin addition to the remaining Rent due, any all costs, including costs and expenses for maintenance, Landlord incurred in reletting which remain after applying the Rent received from the reletting. No act by Landlord allowed by this §15.2(c) will terminate this Lease unless Landlord notifies Tenant in such reletting or in making such alterations and repairs not covered by the rentals received from such relettingwriting that Landlord elects to terminate this Lease.
Appears in 2 contracts
Samples: Office Lease (Box Inc), Office Lease (Box Inc)
Reletting. In the event of the abandonment of the Premises by Tenant or in the event that Landlord shall elect to re-enter as provided in Paragraph 25(b) or shall take possession of the Premises pursuant to legal proceeding or pursuant to any notice provided by law, then if Landlord does not elect to terminate this Lease as provided in Paragraph aXxxxxxxxx 00(x), Landlord Xxxxxxxx may from time to time, without terminating this Lease, relet the Premises or any part thereof for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the PremisesPremises in Landlord's sole discretion. In the event that Landlord shall elect to so relet, then rentals received by Landlord from such reletting shall be applied in the following order: :
(1) to reasonable attorneys’ ' fees incurred by Landlord as a result of a Default and costs in the event suit is filed by Landlord to enforce such remedies; (2) to the payment of any indebtedness other than Rent due hereunder from Tenant to Landlord; (3) to the payment of any costs of such reletting; (4) to the payment of the costs of any alterations and repairs to the Premises; (5) to the payment of Rent due and unpaid hereunder; and (6) the residue, if any, shall be held by Landlord and applied in payment of future Rent and other sums payable by Tenant hereunder as the same may become due and payable hereunder. Should that portion of such rentals received from such reletting during any month, which is applied to the payment of Rent hereunder, be less than the Rent payable during the month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertained, any costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received from such reletting.
Appears in 2 contracts
Samples: Lease Agreement (Dicon Fiberoptics Inc), Lease Agreement (Sontra Medical Corp)
Reletting. In the event Landlord terminates the right of the abandonment of the Premises by Tenant or in the event that Landlord shall elect to re-enter or shall take possession of the Premises pursuant to legal proceeding or pursuant to any notice provided by law, then if Landlord does not elect to terminate without terminating this Lease as provided in Paragraph aaforesaid, Landlord may from time shall use reasonable efforts to time, without terminating this Lease, relet the Premises or any part thereof for the account of Tenant for such rent, for such time (which may be for a term or terms and at such rental or rentals extending beyond the Term) and upon such other terms and conditions as Landlord in its Landlord’s sole discretion shall determine (including concessions of free rent and other inducements to prospective tenants), and Landlord shall not be required to accept any tenant offered by Tenant or to observe any instructions given by Tenant relative to such reletting and may deem advisable with give the right to leasing of any unleased space in the Building priority over the reletting of the Premises. Also, in any such event, Landlord may make repairs, alterations and repairs additions in or to the Premises and redecorate the same to the extent deemed by Landlord necessary, and, in connection therewith, change the locks to the Premises, and Tenant shall upon demand pay the cost thereof together with Landlord’s expenses of reletting. In Landlord may collect the event that Landlord shall elect to so relet, then rentals received by Landlord rents from any such reletting shall be applied in and apply the following order: (1) to reasonable attorneys’ fees incurred by Landlord as a result of a Default and costs in the event suit is filed by Landlord to enforce such remedies; (2) to the payment of any indebtedness other than Rent due hereunder from Tenant to Landlord; (3) to the payment of any costs of such reletting; (4) same first to the payment of the costs expenses of any re-entry, redecoration, repair and alterations and repairs to the Premises; expense of reletting (5including without limitation brokers’ commissions and reasonable attorneys’ fees) and second to the payment of Rent herein provided to be paid by Tenant. Any excess or residue shall operate only as an offsetting credit against the amount of Rent as the same theretofore became or thereafter becomes due and unpaid payable hereunder; and (6) , but the residueuse of such offsetting credit to reduce the amount of Rent due Landlord, if any, shall not be held by Landlord deemed to give Tenant any right, title or interest in or to such excess or residue and applied in payment of future Rent and other sums payable by Tenant hereunder as the same may become due and payable hereunder. Should that portion of any such rentals received from such reletting during any month, which is applied to the payment of Rent hereunder, be less than the Rent payable during the month by Tenant hereunder, then Tenant excess or residue shall pay such deficiency belong solely to Landlord. Such deficiency No such re-entry or repossession, repairs, alterations and additions, or reletting shall be calculated and paid monthly. construed as an eviction or ouster of Tenant, an election on Landlord’s part to terminate this Lease or an acceptance of a surrender of this Lease, unless a written notice of such intention be given to Tenant, or shall operate to release Tenant shall also pay to Landlord, as soon as ascertained, any costs and expenses incurred by Landlord in such reletting whole or in making such alterations part from any of Tenant’s obligations hereunder. Landlord may, at any time and repairs not covered by from time to time, xxx and recover judgment for any deficiencies remaining after the rentals received from application of the proceeds of any such reletting.
Appears in 2 contracts
Samples: Sublease (Catabasis Pharmaceuticals Inc), Office Lease
Reletting. In the event of the Tenant’s abandonment of the Premises by Tenant or in the event that if Landlord shall elect to re-enter reenter or shall take possession of the Premises pursuant to any legal proceeding or pursuant to any notice provided by law, then if and until Landlord does not elect elects to terminate this Lease as provided in Paragraph aLease, Landlord may may, from time to time, without terminating this Lease, recover all rent as it becomes due under Section 18.5 above and/or relet the Premises or any part thereof for such the account of and on behalf of Tenant, on any terms, for any term (whether or terms not longer than the Term of this Lease) and at such rental or rentals and upon such other terms and conditions any rent as Landlord in its sole reasonable discretion may deem advisable with the right to advisable, and Landlord may make any alterations and repairs to the PremisesPremises in connection therewith. Tenant hereby irrevocably constitutes and appoints Landlord as its special attorney-in-fact, irrevocable and coupled with an interest, for purposes of reletting the Premises pursuant to the immediately preceding sentence. In the event that Landlord shall elect to so reletrelet the Premises on behalf of Tenant, then rentals rent received by Landlord from such reletting shall be applied in applied:
(a) First, to reimburse Landlord for the following order: costs and expenses of such reletting (1including, without limitation, costs and expenses of retaking or repossessing the Premises, removing persons and property therefrom, securing new tenants, and, if Landlord shall maintain and operate the Premises, the costs thereof) to and necessary or reasonable attorneys’ fees incurred by Landlord as a result of a Default and costs in the event suit is filed by Landlord to enforce such remedies; alterations.
(2b) Second, to the payment of any indebtedness of Tenant to Landlord other than Basic Annual Rent and other sums due hereunder from Tenant to Landlord; and unpaid hereunder.
(3c) Third, to the payment of any costs of such reletting; (4) to the payment of the costs of any alterations rent, Basic Annual Rent and repairs to the Premises; (5) to the payment of Rent other sums due and unpaid hereunder; , and (6) the residue, if any, shall be held by Landlord and applied in payment of other or future Rent and other sums payable by obligations of Tenant hereunder to Landlord as the same may become due and payable hereunderpayable. Should that portion of such rentals the rent received from such reletting during reletting, when applied in the manner and order indicated above, at any month, which is applied to the payment of Rent hereunder, time be less than the Rent payable during the month by total amount owing from Tenant hereunderpursuant to this Lease, then Tenant shall pay such deficiency to Landlord. Such , and if Tenant does not pay such deficiency shall be calculated and paid monthly. within five (5) days of its receipt of written notice, Landlord may bring an action against Tenant shall also pay to Landlordfor recovery of such deficiency or may pursue its other remedies hereunder or under California Civil Code Section 1951.8, as soon as ascertainedCalifornia Code of Civil Procedure Section 1161 et seq., or any costs and expenses incurred by Landlord in such reletting similar, successor or in making such alterations and repairs not covered by the rentals received from such relettingrelated provision of law.
Appears in 1 contract
Reletting. In the event of the abandonment of the Premises by Tenant With or in the event that Landlord shall elect to re-enter or shall take possession of the Premises pursuant to legal proceeding or pursuant to any notice provided by law, then if Landlord does not elect to terminate this Lease as provided in Paragraph a, Landlord may from time to time, without terminating this Lease, as Landlord may elect, Landlord may re-enter and repossess the Demised Premises, or any part thereof, and lease them to any other person upon such terms as Landlord shall deem reasonable, for a term within or beyond the term of this Lease; provided, that any such reletting prior to termination shall be for the account of Tenant, and Tenant shall remain liable for (i) all Annual Fixed Rent, Additional Rent and other sums which would be payable under this Lease by Tenant in the absence of such expiration, termination or repossession, less (ii) the net proceeds, if any, of any reletting effected for the account of Tenant after deducting from such proceeds all of Landlord's expenses, attorneys' fees and expenses, employees' expenses, reasonable alteration costs, expenses of preparation for such reletting and all costs and expenses, direct or indirect, incurred as a result of Tenant's breach of the Lease. Landlord agrees to use commercially reasonable efforts to mitigate the damages resulting from Tenant's breach of this Lease, but Landlord shall in no event be liable in any way whatsoever for failure to relet the Demised Premises or, in the event that the Demised Premises or any part or parts thereof are relet, for such term or terms and at such rental or rentals and failure to collect the rent upon such reletting. The foregoing shall not be construed to impose upon Landlord any obligation to offer the Demised Premises (or any portion thereof) for lease at terms more favorable than those being offered by Landlord for other terms space in the Park, nor shall Landlord be obligated to lease the Demised Premises (or any portion thereof) before, in lieu of, or in preference over any other portion of the Park available for lease. If the Demised Premises are at the time of default sublet or leased by Tenant to others, Landlord may, as Tenant's agent, collect rents due from any subtenant or other tenant and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs apply such rents to the Premises. In the event that Landlord shall elect to so relet, then rentals received by Landlord from such reletting shall be applied in the following order: (1) to reasonable attorneys’ fees incurred by Landlord as a result of a Default rent and costs in the event suit is filed by Landlord to enforce such remedies; (2) to the payment of any indebtedness other than Rent amounts due hereunder from Tenant without in any way affecting Tenant's obligation to Landlord; (3) to the payment of any costs of such reletting; (4) to the payment of the costs of any alterations and repairs to the Premises; (5) to the payment of Rent due and unpaid hereunder; and (6) the residue, if any, shall be held by Landlord and applied in payment of future Rent and other sums payable by Tenant hereunder as the same may become due and payable hereunder. Should that portion of such rentals received from such reletting during any monthSuch agency, which being given for security, is applied hereby declared to the payment of Rent hereunder, be less than the Rent payable during the month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertained, any costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received from such relettingirrevocable.
Appears in 1 contract
Samples: Lease Agreement (Immunicon Corp)
Reletting. In Notwithstanding the event foregoing, to the extent (but no further) Landlord is required by applicable Texas law to mitigate damages, or is required by law to use efforts to do so, and such requirement cannot be lawfully and effectively waived (it being the intention of Landlord and Tenant that Tenant WAIVE such requirements to the abandonment of the Premises maximum extent permitted by applicable law), Tenant or in the event agrees that Landlord shall elect not be deemed to have failed to mitigate damages, or the efforts required by law to do so, because:
(i) Landlord leases other space in the Building which is vacant prior to re-enter letting the Leased Premises;
(ii) Landlord refuses to relet the Leased Premises to any affiliate of Tenant, or shall take possession any principal of Tenant, or any affiliate of such principal (for purposes of this section of the Premises pursuant to legal proceeding or pursuant Lease, "affiliate" shall mean and refer to any notice provided person or entity controlling, under common control with, or controlled by law, then if the party in question);
(iii) Landlord does refuses to relet the Leased Premises to any person or entity whose creditworthiness is not elect acceptable to terminate Landlord in the exercise of its reasonable discretion;
(iv) Landlord refuses to relet the Leased Premises to any person or entity because the use proposed to be made of the Leased Premises by such prospective tenant is not general office use of a type and nature consistent with that of the other tenants in the portions of the Building leased or held for lease for general office purposes as of the date Tenant defaults under this Lease as provided (by way of illustration, but not limitation, government offices, consular offices, doctor's offices or medical or dental clinics or laboratories, or schools would not be uses consistent with that of other tenants in Paragraph athe Building), or such use would, in Landlord's reasonable judgment, impose unreasonable or excessive demands upon the Building systems, equipment or facilities;
(v) Landlord may from time refuses to time, without terminating this Lease, relet the Leased Premises to any person or entity, or any part thereof for affiliate of such term person or entity, who is or has been engaged in litigation with Landlord or any of its affiliates;
(vi) Landlord refuses to relet the Leased Premises because the tenant or the terms and provisions of the proposed lease are not approved by the holders of any liens or security interests in the Building, or would cause Landlord to be in default of, or to be unable to perform any of its covenants or obligations under, any agreements between Landlord and any third party;
(vii) Landlord refuses to relet the Leased Premises because the proposed tenant is unwilling to execute and deliver Landlord's standard lease form or such tenant requires improvements to the Leased Premises to be paid at Landlord's cost and expense; or
(viii) Landlord refuses to relet the Leased Premises to a person or entity whose character or reputation, or the nature of such rental or rentals and upon such other terms and conditions as prospective tenant's business, would not be acceptable to Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premises. In the event that Landlord shall elect to so relet, then rentals received by Landlord from such reletting shall be applied in the following order: (1) to reasonable attorneys’ fees incurred by Landlord as a result of a Default and costs in the event suit is filed by Landlord to enforce such remedies; (2) to the payment of any indebtedness other than Rent due hereunder from Tenant to Landlord; (3) to the payment of any costs of such reletting; (4) to the payment of the costs of any alterations and repairs to the Premises; (5) to the payment of Rent due and unpaid hereunder; and (6) the residue, if any, shall be held by Landlord and applied in payment of future Rent and other sums payable by Tenant hereunder as the same may become due and payable hereunder. Should that portion of such rentals received from such reletting during any month, which is applied to the payment of Rent hereunder, be less than the Rent payable during the month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertained, any costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received from such relettingdiscretion.
Appears in 1 contract
Reletting. In If this Lease or Tenant’s right to possession is terminated, or Tenant abandons the event Premises, Landlord may: (i) enter and secure the Premises, change the locks, install barricades, remove any improvements, fixtures or other property of Tenant therein, perform any decorating, remodeling, repairs, alterations, improvements or additions and take such other actions as Landlord shall determine in Landlord’s sole discretion to prevent damage or deterioration to the abandonment Premises or prepare the same for reletting, and (ii) relet all or any portion of the Premises by Tenant (separately or in as part of a larger space), for any rent, use or period of time (which may extend beyond the event that Term hereof), and upon any other terms as Landlord shall elect to re-enter determine in Landlord’s sole discretion, directly or shall take possession of the Premises pursuant to legal proceeding as Tenant’s agent (if permitted or pursuant to any notice provided required by law, then if Landlord does not elect to terminate this Lease as provided in Paragraph a, Landlord may from time to time, without terminating this Lease, relet the Premises or any part thereof for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premisesapplicable Law). In the event that Landlord shall elect to so relet, then rentals The consideration received by Landlord from such reletting shall be applied in pursuant to the following orderterms of Paragraph H hereof, and if such consideration, as so applied, is not sufficient to cover all Rent and damages to which Landlord may be entitled hereunder, Tenant shall pay any deficiency to Landlord as the same accrues or after the same has accrued from time to time upon demand, subject to the other provisions hereof. E. Specific Performance, Collection of Rent and Acceleration. Landlord shall at all times have the right without prior demand or notice except as required by applicable Law to: (1i) seek any declaratory, injunctive or other equitable relief, and specifically enforce this Lease or restrain or enjoin a violation of any provision hereof, and Tenant hereby waives any right to reasonable attorneys’ fees incurred require that Landlord post a bond or other security in connection therewith, and (ii) xxx for and collect any unpaid Rent which has accrued. Notwithstanding anything to the contrary contained in this Lease, to the extent not expressly prohibited by Landlord as a result of a Default and costs applicable Law, in the event suit is filed of any Default by Tenant, Landlord may terminate this Lease or Tenant’s right to enforce such remediespossession and accelerate and declare all Rent reserved for the remainder of the Term to be immediately due and payable (in which event, Tenant’s obligations for Taxes and Expenses that would have accrued thereafter shall be projected in the manner described in Section B (1), above); provided the Rent so accelerated shall be discounted in accordance with accepted financial practice at the rate of seven percent (27%) per annum to the payment of any indebtedness other than Rent due hereunder from Tenant to Landlord; (3) to the payment of any costs of such reletting; (4) to the then present value, and Landlord shall, after receiving payment of the costs same from Tenant, be obligated to turn over to Tenant any actual net reletting proceeds (net of any alterations and repairs all Costs of Reletting) thereafter received during the remainder of the Term, up to the Premises; (5) to the payment of Rent due and unpaid hereunder; and (6) the residue, if any, shall be held by Landlord and applied in payment of future Rent and other sums payable by Tenant hereunder as the same may become due and payable hereunder. Should that portion of such rentals amount so received from such reletting during any monthTenant pursuant to this provision. F. Late Charges, which is applied to the payment of Rent hereunderInterest, be less than the Rent payable during the month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthlyReturned Checks. Tenant shall also pay to Landlordpay, as soon as ascertainedadditional Rent, any costs and expenses incurred by Landlord in such reletting a service charge of Three Hundred Dollars ($300.00) or in making such alterations and repairs not covered by the rentals received from such reletting.three percent
Appears in 1 contract
Reletting. In the event of the abandonment of the Premises by Tenant At any time or in the event that Landlord shall elect to re-enter or shall take possession of the Premises pursuant to legal proceeding or pursuant to any notice provided by law, then if Landlord does not elect to terminate this Lease as provided in Paragraph a, Landlord may from time to time, without terminating this Lease, relet time after the repossession of the Leased Premises or any part thereof pursuant to Section 15.3, whether or not the Term shall have been terminated pursuant to Section 15.2 (iii), Landlord shall use commercially reasonable efforts, in its own name as agent for Tenant if the Term has not been terminated, or on its own behalf if this Lease has been terminated, to relet all or any part of the Leased Premises for the account of Tenant for such term or terms (which may be greater or less than the period which would otherwise have constituted the balance of the Term) and at on such rental conditions and provisions (which may include concessions or rentals free rent) as Landlord, in its absolute and upon sole discretion, may determine, and Landlord may collect and receive any rents payable by reason of such reletting. Notwithstanding the foregoing:
(i) Landlord shall not be required to (a) accept any tenant offered by Tenant, (b) observe any instruction given by Tenant about such reletting, (c) endeavor to relet if Landlord has other terms space available or which will become available elsewhere in the Property, or (d) relet to any tenant whose business or proposed use would be inconsistent or not compatible, in Landlord's sole opinion, with the overall leasing, use and conditions occupancy of the Property or whose financial responsibility or standing is not satisfactory to Landlord. For the purpose of such reletting, Landlord may decorate or make repairs, changes, alterations or additions in or to the Leased Premises or any part thereof to the extent deemed by Landlord to be desirable or convenient, and the cost of such decoration, repairs, changes, alterations or additions shall be charged to and be payable by Tenant as additional Rent hereunder, as well as all reasonable brokerage and legal fees expended by Landlord in its sole discretion may deem advisable connection with such reletting. No reletting shall be deemed to be a surrender and acceptance of the right to make alterations and repairs to the Leased Premises. In the event that Landlord shall elect to so relet, then rentals .
(ii) Net rent received by Landlord from such reletting shall be applied in the following order: (1) to reasonable attorneys’ fees incurred by Landlord any third party tenant as a result of reletting the Leased Premises (i.e., net of all costs of the reletting, including but not limited to, brokerage fees, free rent or other concessions paid or credited to the third party tenant, the cost of refurbishing or fitting-up the space, legal and other expenses incurred as a result of Tenant's Default and costs those incurred in the event suit is filed by Landlord to enforce such remedies; (2reletting) during or attributable to the payment of any indebtedness other than Rent due hereunder from Tenant to Landlord; (3) to period ending on the payment of any costs of such reletting; (4) to the payment of the costs of any alterations and repairs to the Premises; (5) to the payment of Rent due and unpaid hereunder; and (6) the residue, if anyExpiration Date, shall be held by Landlord and applied in payment of future credited against the Rent and other sums otherwise payable by Tenant hereunder as the same may become due and payable hereunder. Should that portion of such rentals received from such reletting during any month, which is applied to the payment of Rent hereunder, be less than the Rent payable during the month by Tenant hereunderremainder of the Term, then Tenant shall pay such deficiency in inverse order against the last Rent payments to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertained, any costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs not covered by made under the rentals received from such relettingprovisions of this Lease.
Appears in 1 contract
Samples: Lease Agreement (Epocrates Inc)
Reletting. In After such termination of this Lease and the event of the abandonment surrender and yield-up of the Premises by Tenant or pursuant to the foregoing provisions, Landlord will exercise commercially reasonable efforts to relet the Premises after Tenant vacates the Premises, which shall include marketing the Premises in a manner similar to the manner in which Landlord markets other premises within Landlord’s control in the Building. In no event that shall Landlord shall elect be required to re-enter (i) solicit or shall take entertain negotiations with any other prospective tenants for the Premises unless and until Landlord obtains full and complete possession of the Premises pursuant Premises, including the final and unappealable legal right to legal proceeding or pursuant to any notice provided by law, then if Landlord does not elect to terminate this Lease as provided in Paragraph a, Landlord may from time to time, without terminating this Lease, relet the Premises free of any claim of Tenant, (ii) lease the Premises to a tenant whose proposed use, in Landlord’s reasonable judgment, will be unacceptable, (iii) relet the Premises prior to leasing any other vacant space in the Building, suitable for the use of the prospective tenant, (iv) lease the Premises for a rental rate less than the current fair market rent then prevailing for similar space in the Building, or (v) enter into a lease with any part thereof proposed tenant that does not have, in Landlord’s reasonable opinion, sufficient financial wherewithal and resources to satisfy its financial obligations under the prospective lease. Landlord shall be entitled to take into account in connection with any such reletting of the Premises all relevant factors which would be taken into account by a sophisticated landlord in securing a replacement tenant for the Premises including the first class quality of the Building, matters of tenant mix, and the financial responsibility of any such term or terms replacement tenant. Landlord, at Landlord’s option, may make such alterations, decorations and at such rental or rentals other physical changes in and upon such other terms and conditions to the Premises as Landlord Landlord, in its sole discretion may deem discretion, considers advisable or necessary in connection with the right to make alterations and repairs to the Premisessuch reletting or proposed reletting. In the event that Landlord shall elect to so relet, then rentals received No action or inaction by Landlord from in connection with such reletting shall be applied in the following order: (1) to reasonable attorneys’ fees incurred by Landlord as a result of a Default and costs in the event suit is filed by Landlord to enforce such remedies; (2) to the payment relieve Tenant of any indebtedness liability under this Lease or otherwise affecting any such liability. Landlord shall have no other than Rent due hereunder from obligation to mitigate the damages for which Tenant to Landlord; (3) to the payment of any costs of such reletting; (4) to the payment of the costs of any alterations and repairs to the Premises; (5) to the payment of Rent due and unpaid hereunder; and (6) the residue, if any, shall be held by Landlord and applied in payment of future Rent and other sums payable by Tenant hereunder as the same may become due and payable hereunder. Should that portion of such rentals received from such reletting during any month, which is applied to the payment of Rent hereunder, be less than the Rent payable during the month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertained, any costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received from such relettingresponsible under this Lease.
Appears in 1 contract
Samples: Lease (Vor Biopharma Inc.)
Reletting. In the event Landlord terminates the right of the abandonment of the Premises by Tenant or in the event that Landlord shall elect to re-enter or shall take possession of the Premises pursuant to legal proceeding or pursuant to any notice provided by law, then if Landlord does not elect to terminate without terminating this Lease as provided in Paragraph aaforesaid, Landlord may from time shall use commercially reasonable efforts to time, without terminating this Lease, relet the Premises or any part thereof for the account of Tenant for such rent, for such time (which may be for a term or terms and at such rental or rentals extending beyond the Term) and upon such other terms and conditions as Landlord in its sole Landlord’s reasonable discretion shall determine (including concessions of free rent and other inducements to prospective tenants), and Landlord shall not be required to accept any tenant offered by Tenant or to observe any instructions given by Tenant relative to such reletting and may deem advisable with give the right to leasing of any unleased space in the Building priority over the reletting of the Premises. Also, in any such event, Landlord may make repairs, alterations and repairs additions in or to the Premises and redecorate the same to the extent deemed by Landlord necessary, and, in connection therewith, change the locks to the Premises, and Tenant shall upon demand pay the reasonable cost thereof together with Landlord’s reasonable expenses of reletting. In Landlord may collect the event that Landlord shall elect to so relet, then rentals received by Landlord rents from any such reletting shall be applied in and apply the following order: (1) to reasonable attorneys’ fees incurred by Landlord as a result of a Default and costs in the event suit is filed by Landlord to enforce such remedies; (2) to the payment of any indebtedness other than Rent due hereunder from Tenant to Landlord; (3) to the payment of any costs of such reletting; (4) same first to the payment of the costs expenses of any re-entry, redecoration, repair and alterations and repairs to the Premises; expense of reletting (5including without limitation brokers’ commissions and reasonable attorneys’ fees) and second to the payment of Rent herein provided to be paid by Tenant. Any excess or residue shall operate only as an offsetting credit against the amount of Rent as the same theretofore became or thereafter becomes due and unpaid payable hereunder; and (6) , but the residueuse of such offsetting credit to reduce the amount of Rent due Landlord, if any, shall not be held by Landlord deemed to give Tenant any right, title or interest in or to such excess or residue and applied in payment of future Rent and other sums payable by Tenant hereunder as the same may become due and payable hereunder. Should that portion of any such rentals received from such reletting during any month, which is applied to the payment of Rent hereunder, be less than the Rent payable during the month by Tenant hereunder, then Tenant excess or residue shall pay such deficiency belong solely to Landlord. Such deficiency No such re-entry or repossession, repairs, alterations and additions, or reletting shall be calculated and paid monthly. construed as an eviction or ouster of Tenant, an election on Landlord’s part to terminate this Lease or an acceptance of a surrender of this Lease, unless a written notice of such intention be given to Tenant, or shall operate to release Tenant shall also pay to Landlord, as soon as ascertained, any costs and expenses incurred by Landlord in such reletting whole or in making such alterations part from any of Tenant’s obligations hereunder. Landlord may, at any time and repairs not covered by from time to time, sxx and recover judgment for any deficiencies remaining after the rentals received from application of the proceeds of any such reletting.
Appears in 1 contract
Reletting. In the event Landlord terminates the right of the abandonment of the Premises by Tenant or in the event that Landlord shall elect to re-enter or shall take --------- possession of the Premises pursuant to legal proceeding or pursuant to any notice provided by law, then if Landlord does not elect to terminate without terminating this Lease as provided in Paragraph aaforesaid, Landlord may from time shall use reasonable efforts to time, without terminating this Lease, relet the Premises or any part thereof for the account of Tenant for such rent, for such time (which may be for a term or terms and at such rental or rentals extending beyond the Term) and upon such other terms and conditions as Landlord in its Landlord's sole discretion shall determine (including concessions of free rent and other inducements to prospective tenants), and Landlord shall not be required to accept any tenant offered by Tenant or to observe any instructions given by Tenant relative to such reletting and may deem advisable with give the right to leasing of any unleased space in the Building priority over the reletting of the Premises. Also, in any such event, Landlord may make repairs, alterations and repairs additions in or to the Premises and redecorate the same to the extent deemed by Landlord necessary or desirable, and, in connection therewith, change the locks to the Premises, and Tenant shall upon demand pay the cost thereof together with Landlord's expenses of reletting. In Landlord may collect the event that Landlord shall elect to so relet, then rentals received by Landlord rents from any such reletting shall be applied in and apply the following order: (1) to reasonable attorneys’ fees incurred by Landlord as a result of a Default and costs in the event suit is filed by Landlord to enforce such remedies; (2) to the payment of any indebtedness other than Rent due hereunder from Tenant to Landlord; (3) to the payment of any costs of such reletting; (4) same first to the payment of the costs expenses of any re-entry, redecoration, repair and alterations and repairs to the Premises; expense of reletting (5including without limitation brokers' commissions and attorneys' fees) and second to the payment of Rent herein provided to be paid by Tenant. Any excess or residue shall operate only as an offsetting credit against the amount of Rent as the same theretofore became or thereafter becomes due and unpaid payable hereunder; and (6) , but the residueuse of such offsetting credit to reduce the amount of Rent due Landlord, if any, shall not be held by Landlord deemed to give Tenant any right, title or interest in or to such excess or residue and applied in payment of future Rent and other sums payable by Tenant hereunder as the same may become due and payable hereunder. Should that portion of any such rentals received from such reletting during any month, which is applied to the payment of Rent hereunder, be less than the Rent payable during the month by Tenant hereunder, then Tenant excess or residue shall pay such deficiency belong solely to Landlord. Such deficiency No such re-entry or repossession, repairs, alterations and additions, or reletting shall be calculated and paid monthly. construed as an eviction or ouster of Tenant, an election on Landlord's part to terminate this Lease or an acceptance of a surrender of this Lease, unless a written notice of such intention be given to Tenant, or shall operate to release Tenant shall also pay to Landlord, as soon as ascertained, any costs and expenses incurred by Landlord in such reletting whole or in making such alterations part from any of Tenant's obligations hereunder. Landlord may, at any time and repairs not covered by from time to time, xxx and recover judgment for any deficiencies remaining after the rentals received from application of the proceeds of any such reletting.
Appears in 1 contract
Samples: Office Lease (Intek Information Inc)
Reletting. Tenant acknowledges that Xxxxxxxx has entered into this Lease in reliance upon, among other matters, Xxxxxx’s agreement and continuing obligation to pay all Rent due throughout the Term. Upon Landlord’s termination of this Lease and Xxxxxx’s possession after the occurrence of an Event of Default, to the extent required under then applicable law, Landlord agrees to use commercially reasonable efforts to relet the Premises; provided, however, in connection therewith, Tenant agrees that Landlord has no obligation to: (i) relet the Premises (A) at a rental rate or otherwise on terms below market, as then determined by Landlord in its sole discretion; (B) to any entity not satisfying Landlord’s then standard financial credit risk criteria; (C) for a use (1) not consistent with Tenant’s use prior to the Event of Default; (2) which would violate then applicable law or any restrictive covenant or other lease affecting the Building; (3) which would impose a greater burden upon the Building’s parking, HVAC or other facilities; and/or (4) which would involve any use of Hazardous Materials; (ii) divide the Premises, install new demising walls or otherwise reconfigure the Premises to make same more marketable; and/or (iii) relet the Premises, if to do so, Landlord would be required to alter other portions of the Building, make ADA-type modifications or otherwise install or replace any sprinkler, security, safety, HVAC or other Building operating systems. INTENTIONALLY DELETED 20. Intentionally deleted. SURRENDER OF PREMISES 21. No act by Landlord shall be deemed an acceptance of a surrender of the Premises, and no agreement to accept a surrender of the Premises shall be valid unless the same is made in writing and signed by Landlord. At the expiration or termination of this Lease, Tenant shall deliver to Landlord the Premises with all improvements located thereon broom clean and in good repair and condition, reasonable wear and tear (and condemnation and fire or other casualty damage (including a Damage Event) not intentionally caused by Tenant, as to which Sections 14 and 15 shall control) excepted, and shall deliver to Landlord all keys to the Premises. At the time of expiration or termination of this Lease, Tenant shall remove (a) all trade fixtures, equipment, wiring, cabling, furniture and the IT room/AC equipment; and (b) such alterations, additions, improvements performed by or for Tenant, as Landlord may request (unless Landlord at the time of such request for approval agrees in writing that Tenant shall not be required to remove such improvement or alteration upon Lease expiration). Tenant shall repair all damage caused by such removal. Notwithstanding the foregoing, Tenant shall not be obligated to remove the Landlord’s Work or the Tenant Improvements completed in accordance with Exhibit H-1 and H-2, attached hereto, unless with respect to Tenant Improvements, Landlord notifies Tenant otherwise in writing at the time such Tenant Improvements are approved in accordance with Exhibit H-2. All items not so removed shall be deemed to have been abandoned by Tenant and may be appropriated, sold, stored, destroyed, or otherwise disposed of by Landlord without notice to Tenant and without any obligation to account for such items. The provisions of this Section 21 shall survive the end of the Term. HOLDING OVER 22. If Tenant fails to vacate the Premises at the end of the Term, then Tenant shall be a tenant at sufferance and, (i) Tenant shall pay, in addition to the other Rent, a daily Basic Rental equal to 150% of the daily Basic Rental payable during the last month of the Term; and (ii) if Tenant holds over for more than thirty (30) days after the end of the Term, in addition to the amount in (i) above, Landlord shall be entitled to pursue consequential damages, if any, resulting from such hold over but only to the extent the consequential damages relate to the period after the first 30 days of the hold over (and not to the first thirty (30) days of the holdover) and, in addition, Landlord may also pursue a confession of judgment solely for possession of the Premises. Xxxxxxxx acknowledges and agrees that the damages and remedies in this Section 22 are Landlord’s exclusive damages and remedies for a holdover and Landlord shall not be entitled to any other damages or to pursue any other remedies under this Lease, at law, in equity or otherwise. In addition to and without limiting the foregoing, Landlord acknowledges and agrees that the damages and remedies in this Section shall be Landlord’s exclusive damages and remedies if Xxxxxx fails to vacate the Premises at the end of the Term. CERTAIN RIGHTS RESERVED BY LANDLORD 23. Provided that the exercise of such rights does not unreasonably interfere with Xxxxxx’s use or occupancy of the Premises, Landlord shall have the following rights (so long as Landlord provides Tenant prior email or oral notice, except in the event of an emergency, in which case, no prior notice is necessary but Landlord shall notify Tenant as soon as reasonably practical):
a. To make inspections and repairs, alterations, additions, changes, or improvements, whether structural or otherwise, in and about the Building, or any part thereof but only to the extent of the rights or obligations of Landlord provided in this Lease; for such purposes, to enter upon the Premises and, during the continuance of any such work, to temporarily close doors, entryways, and corridors in the Building; to temporarily interrupt or suspend Building services and facilities, to temporarily close certain Common Areas for inspections, repairs, alterations, changes or improvements;
b. In the event of an emergency, to take such reasonable measures as Landlord deems necessary for the abandonment security of the Premises Building and its occupants;
c. To change the name by Tenant or in which the event that Landlord shall elect to re-enter or shall take possession of the Premises pursuant to legal proceeding or pursuant to any notice provided by law, then if Landlord does not elect to terminate this Lease as provided in Paragraph a, Landlord may from time to time, without terminating this Lease, relet the Premises or any part thereof for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premises. In the event that Landlord shall elect to so relet, then rentals received by Landlord from such reletting shall be applied in the following order: (1) to reasonable attorneys’ fees incurred by Landlord as a result of a Default and costs in the event suit Building is filed by Landlord to enforce such remediesdesignated; (2) to the payment of any indebtedness other than Rent due hereunder from Tenant to Landlord; (3) to the payment of any costs of such reletting; (4) to the payment of the costs of any alterations and repairs to the Premises; (5) to the payment of Rent due and unpaid hereunder; and (6) the residue, if any, shall be held by Landlord and applied in payment of future Rent and other sums payable by Tenant hereunder as the same may become due and payable hereunder. Should that portion of such rentals received from such reletting during any month, which is applied to the payment of Rent hereunder, be less than the Rent payable during the month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertained, any costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received from such reletting.and
Appears in 1 contract
Reletting. In If this Lease or Tenant's right to possession is terminated, or Tenant abandons the event Premises, Landlord may: (i) enter and secure the Premises, change the locks, install barricades, remove any improvements, fixtures or other property of Tenant therein, perform any decorating, remodeling, repairs, alterations, improvements or additions and take such other actions as Landlord shall determine in Landlord's sole discretion to prevent damage or deterioration to the abandonment Premises or prepare the same for reletting, and (ii) relet all or any portion of the Premises by Tenant (separately or in as part of a larger space), for any rent, use or period of time (which may extend beyond the event that Term hereof), and upon any other terms as Landlord shall elect to re-enter determine in Landlord's sole discretion, directly or shall take possession of the Premises pursuant to legal proceeding as Tenant's agent (if permitted or pursuant to any notice provided required by law, then if Landlord does not elect to terminate this Lease as provided in Paragraph a, Landlord may from time to time, without terminating this Lease, relet the Premises or any part thereof for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premisesapplicable Law). In the event that Landlord shall elect to so relet, then rentals The consideration received by Landlord from such reletting shall be applied pursuant to the terms of Paragraph H hereof, and if such consideration, as so applied, is not sufficient to cover all Rent and damages to which Landlord may be entitled hereunder, Tenant shall pay any deficiency to Landlord as the same accrues or after the same has accrued from time to time upon demand, subject to the other provisions hereof. E. Specific Performance, Collection of Rent and Acceleration. Landlord shall at all times have the right without prior demand or notice except as required by applicable Law to: (i) seek any declaratory, injunctive or other equitable relief, and specifically enforce this Lease or restrain or enjoin a violation of any provision hereof, and Tenant hereby waives any right to require that Landlord post a bond or other security in connection therewith, and (ii) xxx for and collect any unpaid Rent which has accrued. Notwithstanding anything to the contrary contained in this Lease, to the extent not expressly prohibited by applicable Law, in the following order: event of any Default by Tenant, Landlord may terminate this Lease or Tenant's right to possession and accelerate and declare all Rent reserved for the remainder of the Term to be immediately due and payable (1in which event, Tenant's obligations for Taxes and Expenses that would have accrued thereafter shall be projected in the manner described in Section B(1), above); provided the Rent so accelerated shall be discounted in accordance with accepted financial practice at the rate of four percent (4%) per annum to reasonable attorneys’ fees incurred the then present value, and Landlord shall, after receiving payment of the same from Tenant, be obligated to turn over to Tenant any actual net reletting proceeds (net of all Costs of Reletting) thereafter received during the remainder of the Term, up to the amount so received from Tenant pursuant to this provision. F. Late Charges, Interest, and Returned Checks. Tenant shall pay, as additional Rent, a service charge of five percent (5%) of the delinquent amount, if any portion of Rent is not received within five (5) days of when due. In addition, any Rent not paid when due shall accrue interest from the due date at the Default Rate until payment is received by Landlord. Such service charges and interest payments shall not be deemed consent by Landlord to late payments, nor a waiver of Landlord's right to insist upon timely payments at any time, nor a waiver of any remedies to which Landlord is entitled as a result of a Default and costs in the event suit is filed by late payment of Rent. If Landlord to enforce such remedies; receives two (2) to the payment of any indebtedness other than Rent due hereunder or more checks from Tenant to which are returned by Tenant's bank for insufficient funds, Landlord may require that all checks thereafter be bank certified or cashier's checks (without limiting Landlord; (3) to the payment of 's other remedies). All bank service charges resulting from any costs of such reletting; (4) to the payment of the costs of any alterations and repairs to the Premises; (5) to the payment of Rent due and unpaid hereunder; and (6) the residue, if any, returned checks shall be held borne by Landlord and applied in payment of future Rent and other sums payable by Tenant hereunder as the same may become due and payable hereunder. Should that portion of such rentals received from such reletting during any month, which is applied to the payment of Rent hereunder, be less than the Rent payable during the month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertained, any costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received from such relettingTenant.
Appears in 1 contract
Samples: Lease Agreement
Reletting. In After such termination of this Lease and the event of the abandonment surrender and yield-up of the Premises by Tenant or pursuant to the foregoing provisions, Landlord will exercise commercially reasonable efforts to relet the Premises after Tenant vacates the Premises; however, the marketing of the Premises in a manner similar to the manner in which Landlord markets other premises within Landlord's control in the Building shall be deemed to have satisfied Landlord's obligation to use "reasonable efforts." In no event that shall Landlord shall elect be required to re-enter (i) solicit or shall take entertain negotiations with any other prospective tenants for the Premises unless and until Landlord obtains full and complete possession of the Premises pursuant Premises, including the final and unappealable legal right to legal proceeding or pursuant to any notice provided by law, then if Landlord does not elect to terminate this Lease as provided in Paragraph a, Landlord may from time to time, without terminating this Lease, relet the Premises free of any claim of Tenant, (ii) lease the Premises to a tenant whose proposed use, in Landlord's reasonable judgment, will be unacceptable, (iii) relet the Premises prior to leasing any other vacant space in the Building, suitable for the use of the prospective tenant, (iv) lease the Premises for a rental rate less than the current fair market rent then prevailing for similar space in the Building, or (v) enter into a lease with any part thereof proposed tenant that does not have, in Landlord's reasonable opinion, sufficient financial wherewithal and resources to satisfy its financial obligations under the prospective lease. Landlord shall be entitled to take into account in connection with any such reletting of the Premises all relevant factors which would be taken into account by a sophisticated landlord in securing a replacement tenant for the Premises including the first class quality of the Building, matters of tenant mix, and the financial responsibility of any such term or terms replacement tenant. Landlord, at Landlord's option, may make such alterations, decorations and at such rental or rentals other physical changes in and upon such other terms and conditions to the Premises as Landlord Landlord, in its sole discretion may deem discretion, considers advisable or necessary in connection with the right to make alterations and repairs to the Premisessuch reletting or proposed reletting. In the event that Landlord shall elect to so relet, then rentals received No action or inaction by Landlord from in connection with such reletting shall be applied in the following order: (1) to reasonable attorneys’ fees incurred by Landlord as a result of a Default and costs in the event suit is filed by Landlord to enforce such remedies; (2) to the payment relieve Tenant of any indebtedness liability under this Lease or otherwise affecting any such liability. Landlord shall have no other than Rent due hereunder from obligation to mitigate the damages for which Tenant to Landlord; (3) to the payment of any costs of such reletting; (4) to the payment of the costs of any alterations and repairs to the Premises; (5) to the payment of Rent due and unpaid hereunder; and (6) the residue, if any, shall be held by Landlord and applied in payment of future Rent and other sums payable by Tenant hereunder as the same may become due and payable hereunder. Should that portion of such rentals received from such reletting during any month, which is applied to the payment of Rent hereunder, be less than the Rent payable during the month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertained, any costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received from such relettingresponsible under this Lease.
Appears in 1 contract
Reletting. In the event of the abandonment of the Premises by Tenant or in the event that Landlord shall elect to re-enter or shall take any case where LANDLORD has recovered possession of the Premises pursuant leased premises by reason of TENANT'S default, LANDLORD may, at LANDLORD'S option, occupy the leased premises or cause the leased premises to legal proceeding be reasonably redecorated, altered, divided, consolidated with other adjoining premises, or pursuant to any notice provided by lawotherwise changed or prepared for reletting, then if Landlord does not elect to terminate this Lease as provided in Paragraph a, Landlord and may from time to time, without terminating this Lease, relet the Premises leased premises or any part thereof as agent of TENANT or otherwise for such a term or terms and to expire prior to, at such rental the same time as, or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs subsequent to the Premises. In original expiration date of this Lease, at LANDLORD'S option, and receive the event that Landlord shall elect to so reletrent therefor, then rentals received by Landlord from such reletting shall be applied in applying the following order: (1) to reasonable attorneys’ fees incurred by Landlord as a result of a Default and costs in the event suit is filed by Landlord to enforce such remedies; (2) same first to the payment of any indebtedness such expenses as LANDLORD may have incurred in connection with the recovery of possession, redecoration, altering, dividing, consolidating with other than Rent due hereunder from Tenant adjoining premises, or otherwise changing or preparing for reletting, and the reletting, including reasonable brokerage fees and attorneys' fees (to Landlord; (3the extent allowed by law) and then to the payment of any costs of such reletting; (4) damages in amounts equal to the payment rent hereunder and to the cost and expense of performance of the costs other covenants of any alterations TENANT as herein provided; and repairs TENANT agrees, whether or not LANDLORD has relet, to pay to LANDLORD damages equal to the Premises; (5) rent and other sums herein agreed to be paid by TENANT during the payment remainder of Rent due and unpaid hereunder; and (6) the residueoriginal term of this Lease, less the net proceeds of the reletting, if any, as ascertained from time to time and the same shall be held by Landlord and applied in payment of future Rent and other sums payable by Tenant hereunder as TENANT on the same may become due several rent days above specified. LANDLORD shall have the right, in reletting the leased premises, to grant reasonable rent concessions and payable hereunderTENANT shall not be entitled to any credit by reason thereof. Should that portion of such rentals received from No such reletting during any month, which is applied to the payment of Rent hereunder, be less than the Rent payable during the month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertained, any costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received from such reletting.constitute a surrender and
Appears in 1 contract
Reletting. In Lessee acknowledges that MDC has entered into this Sublease in reliance upon, among other matters, Lessee’s agreement and continuing obligation to pay all rent due throughout the event Sublease Term. As a result, Lessee hereby knowingly and voluntarily waives, after advice of the abandonment competent counsel, any of the Premises by Tenant or in the event that Landlord shall elect MDC (and any affirmative defense based upon such duty) following any Event of Default to re-enter or shall take possession of the Premises pursuant to legal proceeding or pursuant to any notice provided by law, then if Landlord does not elect to terminate this Lease as provided in Paragraph a, Landlord may from time to time, without terminating this Lease, relet the Leased Premises or otherwise mitigate MDC’s damages arising from such Event of Default. If such waiver is not effective under then applicable law or MDC otherwise elects, at MDC’s sole option, to attempt to relet all or any part thereof for such term of the Leased Premises, Lessee agrees that MDC has no obligation to: (i) relet the Leased Premises prior to leasing any other space within the buildings; (ii) relet the Leased Premises (A) at a rental rate or otherwise on terms and at such rental or rentals and upon such other terms and conditions below market, as Landlord then determined by MDC in its sole discretion may deem advisable with the right discretion; (B) to make alterations and repairs to the Premises. In the event that Landlord shall elect to so relet, any entity not satisfying MDC’s then rentals received by Landlord from such reletting shall be applied in the following order: standard financial credit risk criteria; (C) for a use (1) not consistent with Lessee’s use prior to reasonable attorneys’ fees incurred by Landlord as a result the Event of a Default and costs in the event suit is filed by Landlord to enforce such remediesDefault; (2) to which would violate then applicable law or regulation, or violate any restrictive covenant or other lease affecting the payment of any indebtedness other than Rent due hereunder from Tenant to Landlordbuildings; (3) to which would impose a greater burden upon the payment of any costs of such relettingbuildings’ parking, HVAC or other facilities; and/or (4) to the payment which would involve any use of the costs of any alterations and repairs to the PremisesHazardous Materials; (5iii) divide the Leased Premises, install new demising walls or otherwise reconfigure the Leased Premises to the payment of Rent due and unpaid hereundermake same more marketable; and (6iv) the residue, if any, shall be held by Landlord and applied in payment of future Rent and pay any leasing or other sums payable by Tenant hereunder as the same may become due and payable hereunder. Should that portion of such rentals received from such reletting during any month, which is applied to the payment of Rent hereunder, be less than the Rent payable during the month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertained, any costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received commissions arising from such reletting. Unless Lessee unconditionally delivers MDC, in good and sufficient funds, the full amount thereof in advance; (v) pay, and/or grant any allowance for, lessee finish or other costs associated with any new lease, even though same may be amortized over the applicable Sublease Term, unless Lessee unconditionally delivers MDC, in good and sufficient funds, the full amount thereof in advance; and/or (vi) relet the Leased Premises, if to do so, MDC would be required to alter other portions of the buildings, make ADA-type modifications or otherwise install or replace any sprinkler, security, safety, HVAC or other building operating systems.
Appears in 1 contract
Reletting. In the event (1) Upon termination of the abandonment this Lease or expiration of Tenant's right to occupy the Premises by Tenant reason of the happening of any of the foregoing events, or in the event that Landlord shall elect to re-enter any other manner or shall take possession circumstances whatsoever, whether with or without legal proceedings, by reason of the Premises pursuant to legal proceeding or pursuant to any notice provided by law, then if Landlord does not elect to terminate based upon or arising out of a default or breach of this Lease as provided in Paragraph aon the part of Tenant, Landlord may may, at its option subject to the proviso set forth at the end of this Section A(1), at any time and from time to time, without terminating this Lease, time relet the Premises or any part thereof or parts thereof, for the account of Tenant or otherwise, and receive and collect the rent therefore, applying the same first to the payment of such expenses as Landlord may have incurred in recovering possession of the Premises, including the attorney's fees and expenses for putting the same into good order and condition or preparing or altering the same for re-rental to the extent Landlord deems necessary or desirable and all other commercially reasonable expenses, commissions and charges paid, assumed or incurred by Landlord in or about reletting the Premises and then to the fulfillment of the covenants of Tenant hereunder. Any such reletting herein provided for may be for the remainder of the initial term or terms and at such rental any renewal term of this Lease, as originally granted, or rentals and upon such other terms and conditions as for a longer or shorter period; Landlord in its sole discretion may deem advisable with shall have the right to make alterations change the character and repairs to use made of the Premises, and Landlord shall not be required to accept any substitute tenant offered by Tenant or to observe any instructions given by Tenant about reletting. In the event that Landlord terminates this Lease or is entitled to possession of the Premises after surrender thereof by Tenant by reason of default by Tenant, Landlord shall elect use reasonable efforts under the circumstances to so reletrelet the space; provided, then rentals received by however, Landlord from may lease as Landlord reasonably deems appropriate, using the same standards as Landlord would use when leasing similar space (assuming Landlord has all ownership and financial risk as to such reletting shall be applied in the following order: (1) to reasonable attorneys’ fees incurred by Landlord as a result of a Default and costs similar space). Further, in the event suit is filed of a default or breach of this Lease by Landlord either party, the other party shall use all reasonable effort under the circumstances to enforce such remedies; mitigate any damages for which the breaching party might be responsible.
(2) In any such case, and whether or not the Premises or any part thereof be relet, Tenant shall pay to Landlord the Base Rent and all Additional Rent and other charges required to be paid by Tenant up to the payment later of any indebtedness other than Rent due hereunder from Tenant to Landlord; (3) to the payment of any costs time of such reletting; (4) to the payment termination of the costs Lease or of any alterations such recovery of possession of the Premises by Landlord, as the case may be, and repairs to thereafter on a monthly basis, less the Premises; (5) to the payment net proceeds of Rent due and unpaid hereunder; and (6) the residuereletting, if any, except in a case in which liability of Tenant (as hereinafter provided), arises by reason of the happening of the insolvency of Tenant, Tenant covenants and agrees, if required by Landlord, to pay to Landlord until the end of the initial term of this Lease, or any renewal term, as the case may be, the equivalent of the amount of all Rent reserved hereunder, and all other charges required to be paid by Tenant, less the net proceeds of reletting, if any. Landlord shall be held have the election in place of holding Tenant so liable forthwith to recover against Tenant as damages for loss of the bargain and not as a penalty, an aggregate sum which at the time of such termination of this Lease or of such recovery of possession of the Premises by Landlord and applied in payment Landlord, as the case may be, represents the then present worth of future the excess, if any, of the aggregate of the Rent and all other sums charges payable by Tenant hereunder that would have accrued for the balance of the initial term, or any renewal term, as the same case may become due be, over the then present worth of the fair market rents and payable hereunder. Should that portion all other charges for the Premises for the balance of such rentals received from such reletting during any month, which is applied to the payment of Rent hereunder, be less than the Rent payable during the month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertained, any costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received from such relettingterm.
Appears in 1 contract
Reletting. In the event of the abandonment of the Premises by Tenant or in the event that If Landlord shall elect terminates Tenant's right to re-enter or shall take possession of the Premises pursuant to legal proceeding or pursuant to any notice provided by law, then if Landlord does not elect to terminate this Lease as provided in Paragraph a, Landlord may from time to time, without terminating this Lease, Landlord may relet the Premises or any part thereof for thereof. In such term or case, Landlord shall use reasonable efforts to relet the Premises on such terms and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion shall reasonably deem appropriate; provided, however, Landlord may deem advisable with the right first lease Landlord's other available space and shall not be required to make alterations and repairs accept any tenant offered by Tenant or to the Premisesobserve any instructions given by Tenant about such reletting. In the event that Landlord shall elect to so reletsuch case, then rentals received by Landlord from such reletting Tenant shall be applied in the following order: (1) to reasonable attorneys’ fees incurred by Landlord as a result of a Default liable for and costs in the event suit is filed by Landlord to enforce such remedies; (2) to the payment of any indebtedness other than Rent due hereunder from Tenant to Landlord; (3) to the payment of any costs of such reletting; (4) to the payment of the costs of any alterations and repairs to the Premises; (5) to the payment of Rent due and unpaid hereunder; and (6) the residue, if any, shall be held by Landlord and applied in payment of future Rent and other sums payable by Tenant hereunder as the same may become due and payable hereunder. Should that portion of such rentals received from such reletting during any month, which is applied to the payment of Rent hereunder, be less than the Rent payable during the month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertaineddamages, any deficiency (referred to as "Deficiency") between the Rent for the period (the "Unexpired Period") which otherwise would have constituted the unexpired portion of the Term (assuming that if the Lease is terminated prior to the date that Tenant would have the right to exercise Tenant's First Termination Option or Second Termination Option, as applicable in accordance with Section 29, in determining the unexpired portion of the Term, Tenant shall be deemed to have exercised the Tenant's First Termination Option or Second Termination Option, as applicable, and in calculating the Deficiency, the First Termination Payment or Second Termination Payment, as applicable, shall be included in the calculating thereof and Tenant shall not otherwise have liability with respect to the portion of the Term following the First Termination Date or Second Termination Date, as applicable), and the net amount, if any, of rents collected under any reletting effected pursuant to the provisions of this Section 16 for any part of such period (first deducting from the rents collected under any such reletting all of Landlord expenses in connection with exercising Landlord's rights hereunder, Landlord's re-entry upon on the Premises and such reletting, including, but not limited to, all actual repossession costs, brokerage commissions, legal expenses, attorneys' fees and disbursements, alteration costs and other expenses incurred of preparing the Premises for such reletting, provided that, if the reletting extends beyond the Unexpired Period, such reletting expense shall be pro-rated between the Unexpired Period and the period occurring after the Unexpired Period based on the number of days in each period, and only such expenses so attributable to the Unexpired Period shall be deducted as aforesaid). In addition, if the Premises, or any part thereof, shall be relet together with other space in the Building, other rents collected or reserved under any such reletting and the expenses of any such reletting shall be equitable apportioned for purposes of this Section 16.C. Solely for the purposes of this Section 16, the Adjustment Rent component of Rent shall mean the Adjustment Rent in effect immediately piror to the date of termination or the date of re-entry upon the Premises by Landlord, as the case may be. Any such Deficiency shall be paid in monthly installments by Tenant on the days specified in this Lease for payment of installments of Monthly Base Rent, Landlord shall be entitled to recover form Tenant each monthly Deficiency as the same shall arise (with the First Termination Payment or Second Termination Payment, as applicable, being paid as provided for in Section 29, provided that once the First Termination Payment or Second Termination Payment, as applicable, is made, Tenant shall have no further liability or obligation to Landlord under this Lease), and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord's right to collect the Deficiency for any subsequent month by a similar proceedings. If the consideration received by Landlord in connection with such reletting or is greater than the amount necessary to pay the full amount of the Rent, the full amount of such excess shall be retained by Landlord and shall in making such alterations and repairs not covered by the rentals received from such relettingno event be payable to Tenant.
Appears in 1 contract
Samples: Sublease Agreement (Ziplink Inc)
Reletting. In the event of the abandonment of the Premises by Tenant or in the event that If Landlord shall elect terminates Tenant’s right to re-enter or shall take possession of the Premises pursuant to legal proceeding or pursuant to any notice provided by law, then if Landlord does not elect to terminate this Lease as provided in Paragraph a, Landlord may from time to time, without terminating this Lease, relet Landlord shall use reasonable efforts to mitigate its damages by reletting the Premises or any part thereof for on such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion shall reasonably deem appropriate; provided, however, Landlord may deem advisable with first lease Landlord’s other available space and shall not be required to accept any tenant offered by Tenant or to observe any instructions given by Tenant about such reletting. Tenant shall reimburse Landlord for the right reasonable costs and expenses of reletting the Premises, which were actually incurred by Landlord, including, but not limited to, all reasonable brokerage, advertising, legal, alteration (excluding tenant improvements, the cost of which are amortized over the new lease), and other expenses incurred to make alterations and repairs to secure a new tenant for the Premises. In If the event that Landlord shall elect to so reletnew lease is for a term which extends beyond what would have been the unexpired Term of this Lease, then rentals received all such expenses shall be prorated on a straight line basis over the term of the new lease and only that portion of the expenses relative to what would have been the unexpired Term of this Lease shall be deducted from the reletting proceeds in determining Tenant’s liability. In addition, if the consideration collected by Landlord from such reletting shall be applied in the following order: (1) to reasonable attorneys’ fees incurred by Landlord as a result of a Default and costs in the event suit is filed by Landlord to enforce such remedies; (2) to the payment of upon any indebtedness other than Rent due hereunder from Tenant to Landlord; (3) to the payment of any costs of such reletting; (4) to the , after payment of the costs expenses of any alterations and repairs reletting the Premises which have not been reimbursed by Tenant, is insufficient to pay monthly the Premises; (5) full amount of the Rent, Tenant shall pay to Landlord the payment amount of Rent due and unpaid hereunder; and (6) each monthly deficiency as it becomes due. If such consideration is greater than the residueamount necessary to pay the full amount of the Rent, if any, the full amount of such excess shall be held retained by Landlord and applied shall in payment of future Rent and other sums no event be payable by Tenant hereunder as the same may become due and payable hereunder. Should that portion of such rentals received from such reletting during any month, which is applied to the payment of Rent hereunder, be less than the Rent payable during the month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertained, any costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received from such relettingTenant.
Appears in 1 contract
Samples: Office Lease (Telvent Git S A)
Reletting. In the event of the abandonment of the Premises by Tenant or in the event that Landlord shall elect to re-may enter or shall and take possession of the Leased Premises pursuant without terminating this Lease and without being liable to legal proceeding prosecution or pursuant any claim for damages therefor, and Landlord may change the locks on the doors to the Leased Premises to exclude Tenant therefrom and immediately discontinue furnishing any notice provided by lawutilities and other services Landlord has been providing. If Landlord terminates Tenant's possession of the Leased Premises, either with or without terminating the Lease, then if either: (a) the aggregate amount of the Base Rent for the remainder of the Lease Term shall at once mature and be immediately due and payable by Tenant to Landlord, and Landlord does not elect shall have the right to terminate this Lease immediate recovery of all such amounts, together with interest thereon as provided hereinabove; or (b) Landlord may relet the Leased Premises either in Paragraph athe name of Landlord or as the agent of Tenant and receive the rent therefor, in which event Tenant will pay to Landlord, on demand, the costs of renovating, repairing and altering the Leased Premises and any deficiency that might arise by reason of such reletting. Such reletting, if undertaken at Landlord's sole discretion, may be for such term or terms (which may be greater or less than the then balance of the Lease Term hereunder) and on such conditions (which may include concessions or free rent) as Landlord in Landlord's absolute discretion may determine. Landlord will have no duty to relet the Leased Premises and the failure of Landlord to relet the Leased Premises will not release or affect Tenant's liability for Rent or for damages determined as provided hereinbelow. In addition, Landlord may shall have the right, from time to time, without terminating this Lease, relet the Premises or any part thereof for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premises. In the event that Landlord shall elect to so relet, then rentals received by Landlord from such reletting shall be applied in the following order: (1) to reasonable attorneys’ fees incurred by Landlord as a result of a Default and costs in the event suit is filed by Landlord to enforce such remedies; (2) to the payment of any indebtedness other than Rent due hereunder recover from Tenant all Additional Rent thereafter accruing pursuant to Landlord; (3) to the payment of any costs of such reletting; (4) to the payment of the costs of any alterations and repairs to the Premises; (5) to the payment of Rent due and unpaid hereunder; and (6) the residue, if any, shall be held by Landlord and applied in payment of future Rent and other sums payable by Tenant hereunder as the same may become due and payable hereunder. Should that portion of such rentals received from such reletting during any month, which is applied to the payment of Rent hereunder, be less than the Rent payable during the month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertained, any costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received from such relettingParagraph 3.2.
Appears in 1 contract
Samples: Office Lease (Catalog Com Inc)
Reletting. In the event of the abandonment of the Premises by Tenant With or in the event that Landlord shall elect to re-enter or shall take possession of the Premises pursuant to legal proceeding or pursuant to any notice provided by law, then if Landlord does not elect to terminate this Lease as provided in Paragraph a, Landlord may from time to time, without terminating this Lease, relet as Landlord may elect, Landlord may re-enter and repossess the Premises Demised Premises, or any part thereof thereof, and lease them to any other person upon such terms as Landlord shall deem reasonable, for a term within or beyond the term of this Lease; provided, that any such reletting prior to termination shall be for the account of Tenant, and Tenant shall remain liable for (i) all Annual Fixed Rent, Additional Rent and other sums which would be payable under this Lease by Tenant in the absence of such expiration, termination or repossession, less (ii) the net proceeds, if any, of any reletting effected for the account of Tenant after deducting from such proceeds all of Landlord's expenses, attorneys' fees and expenses, employees' expenses, reasonable alteration costs, expenses of preparation for such term reletting and all costs and expenses, direct or terms and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premises. In the event that Landlord shall elect to so reletindirect, then rentals received by Landlord from such reletting shall be applied in the following order: (1) to reasonable attorneys’ fees incurred by Landlord as a result of a Default and costs Tenant's breach of this Lease. Landlord shall have no obligation to relet the Demised Premises if, Landlord, or any of its affiliates, shall have other comparable space available for rent, however, Landlord shall use its best efforts to market the Demised Premises as part of Landlord's standard marketing program for all available space in the event suit is filed East Gate Corporate Center. If the Demised Premises are at the time of default sublet or leased by Tenant to others, Landlord to enforce may, as Tenant's agent, collect rents due from any subtenant or other tenant and apply such remedies; (2) rents to the payment of any indebtedness rent and other than Rent amounts due hereunder from Tenant without in any way affecting Tenant's obligation to Landlord; (3) to the payment of any costs of such reletting; (4) to the payment of the costs of any alterations and repairs to the Premises; (5) to the payment of Rent due and unpaid hereunder; and (6) the residue, if any, shall be held by Landlord and applied in payment of future Rent and other sums payable by Tenant hereunder as the same may become due and payable hereunder. Should that portion of such rentals received from such reletting during any monthSuch agency, which being given for security, is applied hereby declared to the payment of Rent hereunder, be less than the Rent payable during the month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertained, any costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received from such relettingirrevocable.
Appears in 1 contract
Samples: Lease Agreement (Emtec Inc/Nj)
Reletting. In the event of the Tenant's abandonment of the Premises by Tenant or in the event that if Landlord shall elect to re-enter reenter or shall take possession of the Premises pursuant to any legal proceeding or pursuant to any notice provided by law, then if and until Landlord does not elect elects to terminate this Lease as provided in Paragraph aLease, Landlord may may, from time to time, without terminating this Lease, recover all rent as it becomes due under Section 18.5 above and/or relet the Premises or any part thereof for such the account of and on behalf of Tenant, on any terms, for any term (whether or terms not longer than the Term of this Lease) and at such rental or rentals and upon such other terms and conditions any rent as Landlord in its sole reasonable discretion may deem advisable with the right to advisable, and Landlord may make any alterations and repairs to the PremisesPremises in connection therewith. Tenant hereby irrevocably constitutes and appoints Landlord as its special attorney-in-fact, irrevocable and coupled with an interest, for purposes of reletting the Premises pursuant to the immediately preceding sentence. In the event that Landlord shall elect to so reletrelet the Premises on behalf of Tenant, then rentals rent received by Landlord from such reletting shall be applied in applied:
(a) First, to reimburse Landlord for the following order: costs and expenses of such reletting (1including, without limitation, costs and expenses of retaking or repossessing the Premises, removing persons and property therefrom, securing new tenants, and, if Landlord shall maintain and operate the Premises, the costs thereof) to and necessary or reasonable attorneys’ fees incurred by Landlord as a result of a Default and costs in the event suit is filed by Landlord to enforce such remedies; alterations.
(2b) Second, to the payment of any indebtedness of Tenant to Landlord other than Basic Annual Rent and other sums due hereunder from Tenant to Landlord; and unpaid hereunder.
(3c) Third, to the payment of any costs of such reletting; (4) to the payment of the costs of any alterations rent, Basic Annual Rent and repairs to the Premises; (5) to the payment of Rent other sums due and unpaid hereunder; , and (6) the residue, if any, shall be held by Landlord and applied in payment of other or future Rent and other sums payable by obligations of Tenant hereunder to Landlord as the same may become due and payable hereunderpayable. Should that portion of such rentals the rent received from such reletting during reletting, when applied in the manner and order indicated above, at any month, which is applied to the payment of Rent hereunder, time be less than the Rent payable during the month by total amount owing from Tenant hereunderpursuant to this Lease, then Tenant shall pay such deficiency to Landlord. Such , and if Tenant does not pay such deficiency shall be calculated and paid monthly. within five (5) days of its receipt of written notice, Landlord may bring an action against Tenant shall also pay to Landlordfor recovery of such deficiency or may pursue its other remedies hereunder or under California Civil Code Section 1951.8, as soon as ascertainedCalifornia Code of Civil Procedure Section 1161 et seq., or any costs and expenses incurred by Landlord in such reletting similar, successor or in making such alterations and repairs not covered by the rentals received from such relettingrelated provision of law.
Appears in 1 contract
Reletting. In Tenant acknowledges that Landlord has entered into this Lease in reliance upon, among other matters, Tenant's agreement and continuing obligation to pay all Rent due throughout the event Term. To the extent required by law, Landlord agrees to use reasonable efforts following any Event of Default to relet the Premises or otherwise mitigate Landlord's damages arising from such Event of Default; provided, however, Tenant agrees that Landlord has no obligation to: (i) relet the Premises prior to leasing any other space within the Building; (ii) relet the Premises (A) at a rental rate or otherwise on terms below market, as then determined by Landlord in its sole discretion; (B) to any entity not satisfying Landlord's then standard financial credit risk criteria; (C) for a use (1) not consistent with general office purposes; (2) which would violate then applicable law or any restrictive covenant or other lease affecting the Building; (3) which would impose a greater burden upon the Building's parking, HVAC or other facilities; and/or (4) which would involve any use of Hazardous Materials; (iii) divide the Premises, install new demising walls or otherwise reconfigure the Premises to make same more marketable; (iv) pay any leasing or other commissions arising from such reletting, unless Tenant unconditionally delivers Landlord, in good and sufficient funds, the full amount thereof in advance; (v) pay, and/or grant any allowance for, tenant finish or other costs associated with any new lease, even though same may be amortized over the applicable lease term, unless Tenant unconditionally delivers Landlord, in good and sufficient funds, the full amount thereof in advance; and/or (vi) relet the Premises, if to do so, Landlord would be required to alter other portions of the abandonment Building, make ADA-type modifications or otherwise install or replace any sprinkler, security, safety, HVAC or other Building operating systems. LANDLORD'S LIEN 20. Landlord disclaims any statutory or constitutional lien. SURRENDER OF PREMISES 21. No act by Landlord shall be deemed an acceptance of a surrender of the Premises, and no agreement to accept a surrender of the Premises shall be valid unless the same is made in writing and signed by Landlord. At the expiration or termination of this Lease, Tenant shall deliver to Landlord the Premises with all improvements located thereon in good repair and condition, reasonable wear and tear (and condemnation and fire or other casualty damage not caused by Tenant, as to which Sections 14 and 15 shall control) excepted, and shall deliver to Landlord all keys to the Premises. Provided that Tenant has performed all of its obligations hereunder, Tenant may remove all unattached trade fixtures, furniture, and personal property placed in the Premises by Tenant (but Tenant shall not remove any such item which was paid for, in whole or in the event that Landlord part, by Landlord). Additionally, Tenant shall elect to re-enter or shall take possession of the Premises pursuant to legal proceeding or pursuant to any notice provided by lawremove such alterations, then if Landlord does not elect to terminate this Lease additions, improvements, trade fixtures, equipment, wiring and furniture as provided in Paragraph a, Landlord may from time to time, without terminating this Lease, relet the Premises or any part thereof for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premises. In the event that Landlord shall elect to so relet, then rentals received by Landlord from such reletting shall be applied in the following order: (1) to reasonable attorneys’ fees incurred by Landlord as a result of a Default and costs in the event suit is filed by Landlord to enforce such remedies; (2) to the payment of any indebtedness other than Rent due hereunder from Tenant to Landlord; (3) to the payment of any costs of such reletting; (4) to the payment of the costs of any alterations and repairs to the Premises; (5) to the payment of Rent due and unpaid hereunder; and (6) the residue, if any, shall be held by Landlord and applied in payment of future Rent and other sums payable by Tenant hereunder as the same may become due and payable hereunder. Should that portion of such rentals received from such reletting during any month, which is applied to the payment of Rent hereunder, be less than the Rent payable during the month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthlyrequest. Tenant shall also pay repair all damage caused by such removal. All items not so removed shall be deemed to Landlordhave been abandoned by Tenant and may be appropriated, as soon as ascertainedsold, any costs and expenses incurred stored, destroyed, or otherwise disposed of by Landlord in without notice to Tenant and without any obligation to account for such reletting or in making such alterations and repairs not covered by items. The provisions of this Section 21 shall survive the rentals received from such relettingend of the Term.
Appears in 1 contract
Reletting. In the event Without terminating or effecting a forfeiture of the abandonment this Lease or otherwise relieving Tenant of the Premises by Tenant or any obligation hereunder in the event that Landlord shall elect absence of express written notice of Landlord's election to re-enter or shall take possession of the Premises pursuant to legal proceeding or pursuant to any notice provided by law, then if Landlord does not elect to terminate this Lease as provided in Paragraph ado so, Landlord may from time to timemay, without terminating this Leasebut need not, relet the Premises or any part portion thereof at any time or from time to time and for such term or terms and at such rental or rentals and upon such other terms conditions and conditions rental as Landlord in its sole discretion may deem advisable with proper. Whether or not the Premises are relet, Tenant shall pay to Landlord all amounts required by Tenant hereunder up to the date that Landlord terminates Tenant's right to make alterations and repairs to possession of the Premises; provided, however, that following a default, Landlord shall not unreasonably withhold its consent to an assignment of this Lease or a subletting of the Premises requested by Tenant, unless Landlord shall also elect to terminate this Lease and Tenant's right to possession of the Premises as provided in Section 13.2(a) above. In Such payments by Tenant shall be due at the event times provided in this Lease, and Landlord need not wait until the termination of this Lease to recover them by legal action or in any other manner. If Landlord relets the Premises or any portion thereof, such reletting shall not relieve Tenant of any obligation hereunder, except that Landlord shall elect apply the rent or other proceeds actually collected by it for such reletting against amounts due from Tenant hereunder to so reletthe extent such proceeds compensate Landlord for non-performance of any obligation of Tenant hereunder. Landlord may execute any lease made pursuant hereto in its own name, then rentals received and the lessee thereunder shall be under no obligation to see to the application by Landlord from such reletting shall be applied in the following order: (1) to reasonable attorneys’ fees incurred by Landlord as a result of a Default and costs in the event suit is filed by Landlord to enforce such remedies; (2) to the payment of any indebtedness proceeds to Tenant, nor shall Tenant have any right to collect any such proceeds. Landlord shall not by any re-entry or other than Rent due hereunder from act be deemed to have accepted any surrender by Tenant of the Premises or Tenant's interest therein, or be deemed to Landlord; (3) have terminated this Lease, or to the payment have relieved Tenant of any costs of such reletting; (4) to the payment of the costs of any alterations and repairs to the Premises; (5) to the payment of Rent due and unpaid hereunder; and (6) the residue, if any, shall be held by Landlord and applied in payment of future Rent and other sums payable by Tenant hereunder as the same may become due and payable hereunder. Should that portion of such rentals received from such reletting during any month, which is applied to the payment of Rent obligation hereunder, be less than the Rent payable during the month by unless Landlord shall have given Tenant hereunder, then Tenant shall pay such deficiency express written notice of Landlord's election to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, do so as soon as ascertained, any costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received from such relettingset forth herein.
Appears in 1 contract
Samples: Ground Lease (SFX Entertainment Inc)
Reletting. In the event Without terminating or effecting a forfeiture of the abandonment this Lease or otherwise relieving Tenant of the Premises by Tenant or any obligation hereunder in the event that absence of express written notice of Landlord's election to do so, Landlord shall elect to may, but need not, re-enter the leased premises, remove all persons therefrom and relet the leased premises or shall take possession of the Premises pursuant to legal proceeding any portion thereof at any time or pursuant to any notice provided by law, then if Landlord does not elect to terminate this Lease as provided in Paragraph a, Landlord may from time to time, without terminating this Lease, relet the Premises or any part thereof time and for such term or terms and at such rental or rentals and upon such other terms conditions and conditions rental as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the Premisesproper. In the event that Landlord shall elect to so relet, then rentals The rent or other proceeds received by Landlord from such reletting shall be applied in the following orderapplied: (1) to reasonable attorneys’ fees incurred by Landlord as a result of a Default and costs in the event suit is filed by Landlord to enforce such remedies; (2) first, to the payment of any indebtedness other than Rent Minimum Annual Rental due hereunder from Tenant to Landlord; (3) second, to the payment of any costs cost of such reletting; (4) third, to the payment of the costs cost of any alterations and repairs to the Premisesleased premises; (5) fourth, to the payment of Rent Minimum Annual Rental due and unpaid hereunder; and (6) the residue, if any, shall be held by Landlord and applied in payment of future Rent and other sums payable by Tenant hereunder amounts as the same may become due and payable hereunder. Should that portion of the rent for such rentals received from such reletting reletting, during any month, month for which is applied to the payment of Rent rent is required hereunder, be less than the Rent rent payable during the that month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord immediately upon demand therefore by Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertained, any costs and expenses incurred by Landlord in such reletting or in making such alterations and reletting, including the costs of repairs to the leased premises, not covered by the rentals received from such reletting. Such payments by Tenant shall be due at the times provided in this Lease, and Landlord need not wait until the termination of this Lease to recover them by legal action or in any other manner. If Landlord relets the leased premises or any portion thereof, such reletting shall not relieve Tenant of any obligation hereunder, except that Landlord shall apply the rent or other proceeds actually collected by it for such reletting against amounts due from Tenant hereunder to the extent such proceeds compensate Landlord for nonperformance of any obligation of Tenant hereunder. Landlord may execute any lease made pursuant hereto in its own name, and the Tenant thereunder shall be under no obligation to see to the application by Landlord of any proceeds to Tenant, nor shall Tenant have any right to collect any such proceeds. Landlord shall not by any re-entry or other act be deemed to have accepted any surrender by Tenant of the leased premises or Tenant's interest therein, or be deemed to have terminated this Lease, or to have relieved Tenant of any obligation hereunder, unless Landlord shall have given Tenant express written notice of Landlord's election to do so as set forth herein. Notwithstanding any reletting by Landlord because of any default by Tenant, without termination of this Lease, Landlord may at any time after such reletting elect to terminate this Lease for any such default.
Appears in 1 contract
Reletting. In If Landlord terminates the event right of the abandonment of the Premises by Tenant or in the event that Landlord shall elect to re-enter or shall take possession of the Premises pursuant to legal proceeding without terminating this Lease, such termination of possession shall not release Tenant, in whole or pursuant to any notice provided by lawin part, then if from Tenant's obligations hereunder for the full Term. Landlord does not elect to terminate this Lease as provided in Paragraph a, Landlord may shall have the right from time to time, without terminating to recover from Tenant, and Tenant shall remain liable for, all rent and any other sums accruing as they become due under this LeaseLease during the period from the date of such notice of termination of possession to the expiration of the Term. In any such case, Landlord shall use all reasonable efforts to relet the Premises or any part thereof for the account of Tenant for such rent, for such time (which may be for a term or terms and at such rental or rentals extending beyond the Term of this Lease) and upon such other terms and conditions as Landlord in its sole Landlord's reasonable discretion shall determine, and Landlord shall not be required to accept any tenant offered by Tenant or to observe any instructions given by Tenant relative to such reletting. Also, in any such case, Landlord may deem advisable with change the right to locks or other entry devices of the Premises and make repairs, alterations and repairs additions in or to the Premises. In Premises and redecorate the event that Landlord shall elect same to so relet, then rentals received the extent deemed by Landlord reasonably necessary or desirable, and Tenant shall upon ten (10) days written notice pay the cost thereof together with Landlord's expenses of reletting, including, without limitation, brokerage commissions payable to Landlord's Agent or to others. Landlord may collect the rents from any such reletting shall be applied in and apply the following order: (1) to reasonable attorneys’ fees incurred by Landlord as a result of a Default and costs in the event suit is filed by Landlord to enforce such remedies; (2) to the payment of any indebtedness other than Rent due hereunder from Tenant to Landlord; (3) to the payment of any costs of such reletting; (4) same first to the payment of the costs expenses of any reentry, redecoration, repair and alterations and repairs to the Premises; (5) expenses of reletting and second to the payment of Base Rent and Additional Rent herein provided to be paid by Tenaxx, xxd any excess or residue shall operate only as an offsetting credit against the amount of Base Rent and Additional Rent due and unpaid owing as the same thereafter becomes due and payable hereunder; . The use of such offsetting credit to reduce the amount of Base Rent and (6) the residueAdditional Rent due Landlord, if any, shall not be held by deemed to give Tenant any right, title or interest in or to such excess or residue and any such excess or residue shall belong to Landlord and applied solely; provided that in payment no event shall Tenant be entitled to a credit on its indebtedness to Landlord in excess of future the aggregate sum (including Base Rent and other sums payable Additional Rent) due and owing or which would have been paid by Tenant hereunder for the period for which the credit to Tenant is being determined, had no default occurred, as the same may become due and payable hereunderapplicable. Should that portion No such reentry, repossession, repairs, alterations, additions or reletting shall be construed as an eviction or ouster of Tenant or as an election on Landlord's part to terminate this Lease, unless a written notice of such rentals received intention is given to Tenant, or shall operate to release Tenant in whole or in part from such reletting during any month, which is applied to the payment of Rent Tenant's obligations hereunder, be less than and Landlord may, at any time and from time to time, sue and recover judgment for any deficiencies from time to time remaining after the Rent payable during application from time to time of the month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertained, proceeds of any costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received from such reletting.
Appears in 1 contract
Samples: Sublease (Universal Access Inc)
Reletting. In the event of the abandonment of the Premises by Tenant or in the event that Landlord shall elect to re-enter as provided in Paragraph 25(c) or shall take possession of the Premises pursuant to legal proceeding or pursuant to any notice provided by law, then if Landlord does not elect to terminate this Lease as provided in Paragraph a25(a), Landlord may from time to timexxxx xxxx xx xxxx, without terminating this Lease, relet the Premises or any part thereof for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable with the right to make alterations and repairs to the PremisesPremises in Landlord's sole discretion. In the event that Landlord shall elect to so relet, then rentals received by Landlord from such reletting shall be applied in the following order: (1i) to reasonable attorneys’ ' fees incurred by Landlord as a result of a Default and costs in the event suit is filed by Landlord to enforce such remedies; (2ii) to the payment of any indebtedness other than Rent due hereunder from Tenant to Landlord; (3iii) to the payment of any costs of such reletting; (4iv) to the payment of the costs of any alterations and repairs to the Premises; (5v) to the payment of Rent due and unpaid hereunder; and (6vi) the residue, if any, shall be held by Landlord and applied in payment of future Rent and other sums payable by Tenant hereunder as the same may become due and payable hereunder. Should that portion of such rentals received from such reletting during any month, which is applied to the payment of Rent hereunder, be less than the Rent payable during the month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertained, any costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received from such reletting.
Appears in 1 contract
Reletting. In the event of the abandonment of the Premises by Tenant At any time or in the event that Landlord shall elect to re-enter or shall take possession of the Premises pursuant to legal proceeding or pursuant to any notice provided by law, then if Landlord does not elect to terminate this Lease as provided in Paragraph a, Landlord may from time to time, without terminating this Lease, relet time after the repossession of the Premises or any part thereof pursuant to Article 15.C, whether or not the Term shall have been terminated pursuant to Article 15.B (iii), Landlord shall use commercially reasonable efforts, in its own name as agent for Tenant if the Term has not been terminated, or on its own behalf if this Lease has been terminated, to relet all or any part of the Premises for the account of Tenant for such term or terms (which may be greater or less than the period which would otherwise have constituted the balance of the Term) and at on such rental conditions and provisions (which may include concessions or rentals free rent) as Landlord, in its absolute and upon sole discretion, may determine, and Landlord may collect and receive any rents payable by reason of such reletting. Notwithstanding the foregoing:
(i) Landlord shall not be required to (a) accept any tenant offered by Tenant, (b) observe any instruction given by Tenant about such reletting, (c) endeavor to relet if Landlord has other terms space available or which will become available elsewhere in the Property, or (d) relet to any tenant whose business or proposed use would be inconsistent or not compatible, in Landlord's sole opinion, with the overall leasing, use and conditions occupancy of the Property, or whose financial responsibility or standing is not satisfactory to Landlord. For the purpose of such reletting, Landlord may decorate or make repairs, changes, alterations or additions in or to the Premises or any part thereof to the extent deemed by Landlord to be desirable or convenient, and the cost of such decoration, repairs, changes, alterations or additions shall be charged to and be payable by Tenant as additional Rent hereunder, as well as any reasonable brokerage and legal fees expended by Landlord in its sole discretion may deem advisable connection with the right such reletting. No reletting shall be deemed to make alterations be a surrender and repairs to acceptance of the Premises. In the event that Landlord shall elect to so relet, then rentals .
(ii) Net rent received by Landlord from such reletting shall be applied in the following order: (1) to reasonable attorneys’ fees incurred by Landlord any third party tenant as a result of a Default and reletting the Premises (i.e., NET of all costs in of the event suit is filed by Landlord to enforce such remedies; (2) reletting, including but not limited to, brokerage fees, free rent or other concessions paid or credited to the payment third party tenant, the cost of any indebtedness refurbishing or fitting-up the space, legal and other than Rent due hereunder from Tenant to Landlord; (3expenses incurred as a result of Tenant's default and those incurred in reletting) during or attributable to the payment of any costs of such reletting; (4) to period ending on the payment of the costs of any alterations and repairs to the Premises; (5) to the payment of Rent due and unpaid hereunder; and (6) the residue, if anyExpiration Date, shall be held by Landlord and applied in payment of future credited against the Rent and other sums otherwise payable by Tenant hereunder as the same may become due and payable hereunder. Should that portion of such rentals received from such reletting during any month, which is applied to the payment of Rent hereunder, be less than the Rent payable during the month by Tenant hereunderremainder of the Term, then Tenant shall pay such deficiency in inverse order against the last Rent payments to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertained, any costs and expenses incurred by Landlord in such reletting or in making such alterations and repairs not covered by made under the rentals received from such relettingprovisions of this Lease.
Appears in 1 contract
Samples: Office Lease (Purchasesoft Inc)