Common use of Remedies for Subtenant Default Clause in Contracts

Remedies for Subtenant Default. (a) In the case of a Default by Subtenant, Sublandlord may: (i) Terminate this Sublease, recover the Sublease Premises and collect from Subtenant any and all rent remaining to be paid for the entire Sublease Term less any amounts Subtenant proves could reasonably be recouped by re-subletting the Sublease Premises, which difference shall be discounted at a rate equal to one (1) whole percentage point above the discount rate in effect on the date of payment at the Federal Reserve Bank nearest the Building; (ii) Elect not to terminate this Sublease and continue to collect all Rent and other sums under this Sublease as they come due; (iii) Collect from Subtenant any other actual and reasonable amount of damages (not consequential) resulting from such Default by Subtenant, such as brokerage fees, buildout costs and/or improvement allowances; (iv) Cure such Default for or on behalf of Subtenant after five (5) business days’ written notice to Subtenant, whereupon Subtenant shall reimburse to Sublandlord any and all costs and expenses of doing so within ten (10) days of demand, and such amounts shall be deemed to be rent hereunder for all purposes; and/or (v) Avail itself of any and all other remedies provided by law, at equity or otherwise. (b) The above remedies shall be cumulative and not exclusive. In the event of a Default by Subtenant hereunder, following Subtenant’s delivery of sole and exclusive possession of the Sublease Premises to Sublandlord, Sublandlord agrees to use commercially reasonable efforts to mitigate its damages, provided, however, Sublandlord shall not be required to expend any amount of money either (a) to alter, remodel or otherwise make the Sublease Premises suitable for use by a proposed Substitute Tenant or (b) for brokerage commissions, so long as Sublandlord has requested and Subtenant has refused to pay any such sum to Sublandlord in advance of Sublandlord’s execution of a substitute sublease with a subtenant (which payment shall not be in lieu of any damages or other sums to which Sublandlord may be entitled as a result of Subtenant’s default under this Sublease).

Remedies for Subtenant Default. (a) In If any Event of Default occurs and remains uncured after Sublandlord delivers notice of such Event of Default and the case of a Default by Subtenantapplicable cure period, if any, has expired, Sublandlord may:may exercise, without limiting Sublandlord in the exercise of any right or remedy at law which Sublandlord may have by reason of such Event of Default, the rights and remedies, either singularly or in combination, as are specified or described in the subparagraphs of this Paragraph. (i) Terminate this Sublease, recover the Sublease Premises and collect from Subtenant any and all rent remaining to be paid for the entire Sublease Term less any amounts Subtenant proves could reasonably be recouped by re-subletting the Sublease Premises, which difference shall be discounted at a rate equal to one (1) whole percentage point above the discount rate in effect on the date of payment at the Federal Reserve Bank nearest the Building; (ii) Elect not to a. Sublandlord may terminate this Sublease and continue all rights of Subtenant under this Sublease either immediately or at some later date by giving Subtenant written notice that this Sublease is terminated. If Sublandlord so terminates this Sublease, then Sublandlord may recover from Subtenant the sum of: 1. the unpaid Rent and all other sums payable under this Sublease which have been earned at the time of termination; 2. interest at the Default Rate on the unpaid Rent and all other sums payable under this Sublease which have been earned at the time of termination; plus 3. the amount by which the unpaid Rent and all other sums payable under this Sublease which would have been earned after termination until the time of award exceeds the amount of such rental loss, if any, as Subtenant proves could have been reasonably avoided and interest on such excess at the Default Rate; plus 4. the amount by which the aggregate of the unpaid Rent and all other sums payable under this Sublease for the balance of the Sublease Term after the time of award exceeds the amount of such rental loss, if any, as Subtenant proves could be reasonably avoided, with such difference being discounted to collect present value at the Prime Rate at the time of award; plus 5. any other amount necessary to compensate Sublandlord for the detriment proximately caused by Subtenant’s failure to perform Subtenant’s obligations under this Sublease or which, in the ordinary course of things, would be likely to result from such failure, including, leasing commissions, tenant improvement costs, renovation costs and advertising costs; plus 6. all such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable law. b. Sublandlord shall also have the right, without terminating this Sublease, to re-enter the Subleased Premises and remove all persons and property from the Subleased Premises. Sublandlord may cause property so removed from the Subleased Premises to be stored in a public warehouse or elsewhere at the expense and for the account of Subtenant. c. Sublandlord shall also have the right, without terminating this Sublease, to accelerate and recover from Subtenant the sum of all unpaid Rent and all other sums payable under the then remaining term of the Sublease, discounting such amount to present value at the Prime Rate. Upon recovery of all such amounts, the Sublease and all rights of Subtenant hereunder shall terminate. d. If Subtenant vacates, abandons or surrenders the Subleased Premises in violation of this Sublease, or if Sublandlord re-enters the Subleased Premises as provided in Paragraph 9.02.b or takes possession of the Subleased Premises pursuant to legal proceedings or through any notice procedure provided by law, then, if Sublandlord does not elect to terminate this Sublease, Sublandlord may, from time to time, without terminating this Sublease, either (a) recover all Rent and all other sums payable under this Sublease as they come due; become due or (iiib) Collect from Subtenant relet the Subleased Premises or any other actual and reasonable amount part of damages (not consequential) resulting from such Default by Subtenant, such as brokerage fees, buildout costs and/or improvement allowances; (iv) Cure such Default for or the Subleased Premises on behalf of and for the benefit of Subtenant for such term or terms, at such rent or rents and pursuant to such other provisions as Sublandlord may reasonably deem advisable, all with the right, at Subtenant’s cost, to make alterations and repairs to the Subleased Premises and recover any deficiency from Subtenant as set forth in Paragraph 9.02.f. e. None of the following remedial actions, singly or in combination, shall be construed as an election by Sublandlord to terminate this Sublease unless Sublandlord has in fact given Subtenant written notice that this Sublease is terminated: an act by Sublandlord to maintain or preserve the Subleased Premises; any efforts by Sublandlord to relet the Subleased Premises; any repairs or alterations made by Sublandlord to the Subleased Premises; re-entry, repossession or reletting of the Subleased Premises by Sublandlord pursuant to this Paragraph or the appointment of a receiver, upon the initiative of Sublandlord, to protect Sublandlord’s interest under this Sublease. If Sublandlord takes any of the foregoing remedial action without terminating this Sublease, Sublandlord may nevertheless at any time after five (5) business days’ taking any such remedial action terminate this Sublease by written notice to Subtenant, whereupon Subtenant . f. Sublandlord shall reimburse use reasonable commercial efforts to Sublandlord any and all costs and expenses relet the Subleased Premises following an Event of doing so within ten (10) days of demand, and such amounts Default. The parties agree that it shall be deemed reasonable for Sublandlord to be rent hereunder for all purposes; and/or (v) Avail itself of any and all other remedies provided by law, at equity or otherwise. (b) The above remedies shall be cumulative and not exclusive. In refuse to relet the event of a Default by Subtenant hereunder, following Subtenant’s delivery of sole and exclusive possession of Subleased Premises on the Sublease Premises to Sublandlord, Sublandlord agrees to use commercially reasonable efforts to mitigate its damages, provided, however, Sublandlord shall not be required to expend any amount of money either (a) to alter, remodel or otherwise make the Sublease Premises suitable for use by a proposed Substitute Tenant or (b) for brokerage commissions, so long as Sublandlord has requested and Subtenant has refused to pay any such sum to Sublandlord grounds set forth in advance of Sublandlord’s execution of a substitute sublease with a subtenant (which payment shall not be in lieu of any damages or other sums to which Sublandlord may be entitled as a result of Subtenant’s default under this Sublease).Paragraph 4.17.3

Remedies for Subtenant Default. Upon and after the occurrence of any Event of Default (and until cure of such default has been tendered by Subtenant and accepted by Sublessor), Sublessor shall have the following rights and remedies: (a) In the case of a Default by Subtenant, Sublandlord may: (i) Terminate this Sublease, recover the Sublease Premises and collect from Subtenant any and all rent remaining to be paid for the entire Sublease Term less any amounts Subtenant proves could reasonably be recouped by re-subletting the Sublease Premises, which difference shall be discounted at a rate equal to one (1) whole percentage point above the discount rate in effect on the date of payment at the Federal Reserve Bank nearest the Building; (ii) Elect not The right to terminate this Sublease and continue to collect all Rent the interest and other sums under this estate granted in the Sublease as they come due; (iii) Collect from Subtenant any other actual and reasonable amount of damages (not consequential) resulting from such Default Premises hereby, by Subtenant, such as brokerage fees, buildout costs and/or improvement allowances; (iv) Cure such Default for or on behalf of Subtenant after five (5) business days’ giving Tenant written notice to Subtenant, whereupon Subtenant shall reimburse to Sublandlord any and all costs and expenses of doing so within ten such termination (10) days of demand, and such amounts which shall be deemed to be rent hereunder for all purposes; and/or (v) Avail itself effective upon the later of any the receipt of such notice or the date and all other remedies provided by law, at equity or otherwisetime of termination specified therein). (b) The above remedies shall be cumulative and not exclusive. In the event Sublessor elects to terminate this Sublease, the right to recover from Subtenant: (1) The worth at the time of a Default award of the unpaid rent earned at the date of such termination, (2) The worth at the time of award of the amount by which the unpaid Rent which would have earned after the date of such termination until the time of award exceeds the amount of such rental loss that Subtenant hereunderproves could have been reasonably avoided, (3) The worth at the time of award of the amount by which the unpaid Rent which would have been earned for the balance of the Sublease Term after the time of award exceeds the amount of such rental loss that Subtenant proves could have been reasonably avoided, following and (4) Any other amount necessary to compensate Sublessor for all of the detriment proximately caused by Subtenant’s delivery 's failure to observe or perform any of sole its obligations under this Sublease or which in the ordinary course of events would be likely to result therefrom, including, without limitation, expenses incurred in re-entering and exclusive taking possession of the Sublease Premises to SublandlordPremises, Sublandlord agrees to use commercially reasonable efforts to mitigate its damages, provided, however, Sublandlord shall not be required to expend any amount of money either (a) to alter, remodel or otherwise make costs incurred in cleaning and refitting the Sublease Premises suitable for use by a proposed Substitute Tenant or new tenant and costs (bincluding reasonable broker's commissions) for brokerage commissions, so long as Sublandlord has requested and Subtenant has refused to pay any such sum to Sublandlord incurred in advance of Sublandlord’s execution of a substitute sublease with a subtenant (which payment shall not be in lieu of any damages or other sums to which Sublandlord may be entitled as a result of Subtenant’s default under this Sublease)reletting the Sublease Premises.