REMEDIES IN DEFAULT. On the occurrence of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided herein, Landlord may, without limiting Landlord in the exercise of any other right or remedy that Landlord may have by reason or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: (a) perform on Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s right to possession, in which case this Lease shall continue in effect and Landlord shall be entitled to enforce all of Landlord’s right and remedies under this Lease, include the right to recover the Rent and other amounts payable hereunder as they become due hereunder.
Appears in 3 contracts
Samples: Stock Purchase Agreement (VCG Holding Corp), Ground Lease Agreement (VCG Holding Corp), Ground Lease (Ricks Cabaret International Inc)
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable any such material default or breach by Tenant, Landlord may at any time thereafter, with or without notice and cure periodor demand, and subject to terms and conditions provided herein, Landlord may, without limiting Landlord in the exercise of any other or a right or remedy that which Landlord may have by reason of such default or breach:
a. Terminate Tenant's right to possession of the Premises by any lawful means, in which case this Lease shall terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such defaultevent Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant's default including, but not limited to, the remedies cost of recovering possession of the Premises; expenses of reletting, including necessary renovation and alteration of the Premises, reasonable attorney's fees, any real estate commission actually paid; the worth at the time of award by the court having jurisdiction thereof of the amount by which the unpaid rent for the balance of the term after the time of such award exceeds the amount of such rental loss for the same period that Tenant proves could be reasonably avoided; that portion of the leasing commission paid by Landlord hereunder being cumulative and not exclusive applicable to the unexpired term of one another: this Lease. Unpaid installments of rent or other sums shall bear interest from the due date at the rate of twenty percent (20%) per annum. In the event Tenant shall have abandoned the Premises, Landlord shall have the option of (a) perform on Tenant’s behalftaking possession of the Premises and recovering from Tenant the amount specified in this paragraph, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) proceeding under the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion provisions of the Term, plus the reasonable cost to Landlord of any repairs required to comply with following Article 23.b.
b. Maintain Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s 's right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises. In such event, Landlord shall be entitled to enforce all of Landlord’s right 's rights and remedies under this Lease, include including the right to recover the Rent and other amounts payable hereunder rent as they become it becomes due hereunder.
c. Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decision of the State in which the Premises are located.
Appears in 3 contracts
Samples: Lease Agreement (MKS Instruments Inc), Lease Agreement (MKS Instruments Inc), Lease Agreement (MKS Instruments Inc)
REMEDIES IN DEFAULT. On the occurrence of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided herein, Landlord may, without limiting Landlord in the exercise of any other right or remedy that Landlord may have at law or in equity by reason or of such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: (a) perform on Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s right to possession, in which case this Lease shall continue in effect and Landlord shall be entitled to enforce all of Landlord’s right and remedies under this Lease, include the right to recover the Rent and other amounts payable hereunder as they become due hereunder.
Appears in 2 contracts
Samples: Ground Lease Agreement (VCG Holding Corp), Ground Lease Agreement (VCG Holding Corp)
REMEDIES IN DEFAULT. On 19.1 Upon a default by Tenant, Landlord shall have the occurrence of following remedies, in addition to all other rights and remedies provided by law or otherwise provided in this Lease, to which Landlord may resort cumulatively or in the Tenant Default alternative:
19.1.1 Landlord may continue this Lease in full force and after the applicable notice and cure periodeffect, and subject to terms and conditions provided herein, Landlord may, without limiting Landlord in the exercise of any other right or remedy that Landlord may have by reason or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: (a) perform on Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s right to possession, in which case this Lease shall continue in full force and effect as long as Landlord does not terminate this Lease, and Landlord shall have the right to collect Rent when due.
19.1.2 Landlord may terminate Tenant's right to possession of the Premises at any time by giving written notice to that effect, and relet the Premises or any part thereof. Tenant shall be entitled liable immediately to enforce Landlord for all costs Landlord incurs in reletting the Premises or any part thereof, including, without limitation, brokers' commissions, expenses of cleaning the Premises required by the reletting, and like costs. Reletting may be for a period shorter or longer than the remaining term of this Lease. No act by Landlord other than giving written notice to Tenant shall terminate this Lease. Acts of maintenance, efforts to relet the Premises, or the appointment of a receiver on Landlord’s 's initiative to protect Landlord's interest under this Lease shall not constitute a termination of Tenant's right to possession. On termination, Landlord has the right to remove all Tenant's Personal Property and remedies store same at Tenant's cost and to recover from Tenant as damages:
(i) The worth at the time of award of unpaid Rent and other sums due and payable which had been earned at the time of termination; plus
(ii) The worth at the time of award of the amount by which the unpaid Rent and other sums due and payable which would have been payable after termination until the time of award exceeds the amount of such Rent loss that Tenant proves could have been reasonably avoided; plus
(iii) The worth at the time of award of the amount by which the unpaid Rent and other sums due and payable for the balance of the Term after the time of award exceeds the amount of such Rent loss that Tenant proves could be reasonably avoided; plus
(iv) Any other amount necessary which is to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform Tenant's obligations under this Lease, include or which, in the right ordinary course of things, would be likely to recover result therefrom, including, without limitation, any costs or expenses incurred by Landlord: (A) in retaking possession of the Premises; (B) in maintaining, repairing, preserving, restoring, replacing, cleaning, altering or rehabilitating the Premises or any portion thereof, including such acts for reletting to a new tenant or tenants; (C) for leasing commissions; and (D) necessary or appropriate to relet the Premises; plus
(v) At Landlord's election, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of the State of Washington.
19.1.3 The "worth at the time of award" of the amounts referred to in subsections 19.1.2(i) and 19.1.2(ii) above is computed by allowing interest at the interest rate in Section 33.8 on the unpaid Rent and other amounts sums due and payable hereunder as they become due hereunderfrom the termination date through the date of award. The "worth at the time of award" of the amount referred to in subsection 19.1.2(iii) above is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at time of award plus one percent (1%).
19.2 Whether Landlord has elected to terminate this Lease or not, Tenant agrees to pay Landlord the cost of recovering possession of the Premises, the expenses of reletting, and any other costs or damages arising out of Tenant's Default, including without limitation the costs of removing persons and property from the Premises, the costs of preparing or altering the Premises for reletting, broker's commissions, and attorneys' fees.
Appears in 2 contracts
Samples: Lease Agreement (Benchmark Electronics Inc), Lease (Advanced Digital Information Corp)
REMEDIES IN DEFAULT. On If Landlord considers that Last Chance is in default as provided in Section 9.1, other than a default in the occurrence payment of Rent which shall be governed by Section 9.1(B), Landlord shall notify Last Chance thereof in writing, setting out specifically in what respects it is claimed that Last Chance has breached this Lease. The receipt of such notice by Last Chance and the Tenant Default lapse of thirty (30) days thereafter without Last Chance’s (i) curing such alleged breach, (ii) commencing and after diligently pursuing such action which is necessary to cure the applicable notice and cure periodalleged breach, and subject to terms and conditions provided hereinor (iii) commencing an action in a court of competent jurisdiction contesting such alleged breach, shall be a default hereunder. In the event of any such default by Last Chance, Landlord may, without limiting Landlord in the exercise of at any other right or remedy that time thereafter, Landlord may have exercise any one or more of the following remedies:
(A) Terminate Last Chance’s right to possession of the Premises by reason or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: (a) perform on Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)lawful means, in which event Tenant case this Lease shall reimburse terminate, and Last Chance shall immediately surrender possession of the Premises to Landlord. In such event, Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or entitle to recover from Last Chance twenty-five Thousand Dollars (b$25,000.00) terminate this Lease and collect in liquidated damages from Tenant in an amount equal to by reason of the Last Chance’s default. In the event Last Chance shall have abandoned the Premises, Landlord shall have the option of (i) retaking possession of the sum of all amounts due hereunder to Premises and recovering from Last Chance the date of termination; plus amount specified in Section 9.2(A), or (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less proceeding under Section 9.2(B) and/or 9.2(C).
(iiiB) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain TenantMaintain Last Chance’s right to possession, in which case this Lease shall continue in effect and whether or not Last Chance shall have abandoned the Premises. In such event, Landlord shall be entitled to enforce all of Landlord’s right rights and remedies under this Lease, include including the right to recover the Rent and as it becomes due hereunder subject to reasonable mitigation efforts of the Landlord.
(C) Pursue any other amounts payable hereunder as they become due hereunderremedy now or hereafter available to Landlord under the laws or judicial decisions of the State of Nevada.
Appears in 2 contracts
Samples: Gold Ranch Casino Lease (Herbst Gaming, LLC), Gold Ranch Casino Lease (Herbst Gaming Inc)
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such material default or breach by Tenant, Landlord maymay at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one anotherbreach: (a) perform on 24a. Terminate Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention 's right to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value possession of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s right to possessionany lawful means, in which case this Lease shall continue in effect terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such event Landlord shall be entitled to enforce recover from Tenant all damages incurred by Landlord by reason of Landlord’s right Tenant's default including, but not limited to, the cost of recovering possession of the Premises; expenses of reletting, including necessary renovation and remedies under alteration of the Premises, reasonable attorney's fees, any real estate commission actually paid; the worth at the time of award by the court having jurisdiction thereof of the amount of which the unpaid rent for the balance of the term after the time of such award exceeds the amount of such rental loss for the same period that Tenant proves could be reasonably avoided; that portion of the leasing commission paid by Landlord and applicable to the unexpired term of this Lease. Unpaid installments of rent or other items shall bear interest from the date due at the rate of ten (10%) per cent per annum. In the event Tenant shall have abandoned the Premises, include Landlord shall have the right to recover option of (a) taking possession of the Rent Premises and other amounts payable hereunder as they become due hereunderrecovering from Tenant the amount specified in this paragraph, or the proceeding under the provisions of the following Article 24.
Appears in 2 contracts
Samples: Sublease (Quokka Sports Inc), Sublease (Quokka Sports Inc)
REMEDIES IN DEFAULT. On (a) In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such default or breach by Tenant, Landlord mayshall have the right at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other right or remedy that which Landlord may otherwise have by reason of such default or such defaultbreach, to terminate this Lease at its option or to re-enter and at its option to attempt to re-let without terminating this Lease and remove all persons and property from the remedies Premises, using any force as may reasonably be necessary to accomplish said purposes, all without service of Landlord hereunder notice or resort to legal process and without being cumulative and not exclusive deemed guilty of one another: (a) perform on Tenant’s behalf, trespass or forcible entry or becoming liable for any unperformed covenant loss or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency), in damage which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall may be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or occasioned thereby.
(b) terminate If Tenant shall fail to remove any effects which it is entitled to remove from the Premises upon the termination of this Lease, or any extension or renewal hereof, or upon a re-entry by Landlord for any cause whatsoever, or upon Tenant’s ceasing to possess the Premises for any reason, Landlord, at its option, may remove the same and store or dispose of the said effects without liability for loss or damage thereto, and Tenant agrees to pay to Landlord on demand any and all expenses incurred in such removal, including Court costs, attorneys fees, storage and insurance charges on such effects for any length of time the same shall be in Landlord’s possession; or Landlord, at its option, without notice, may sell such effects, or any of them, at private or public sale and without legal process, for such price or consideration as Landlord may obtain, and apply the proceeds of such sale upon any amounts due under this Lease from the Tenant to Landlord, and collect liquidated damages from Tenant in an amount equal to (i) upon the sum of all amounts due hereunder expenses incidental to the date of termination; plus (ii) removing, cleaning the aggregate rent remaining over Premises, selling said effects, and any other expense, rendering the unexpired portion of the Termsurplus, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligationsif any, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the TermTenant; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a in the event the proceeds of such sale or sales are insufficient to reimburse Landlord, Tenant shall pay such deficiency upon demand. Tenant acknowledges and agrees that any such disposition of Tenant’s property in the above-described manner by Landlord shall be deemed to be commercially reasonable period of time, not to exceed twenty four (24) months, may and that no bailment shall be considered as a leasing period created by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees exercise of any of its rights under this subparagraph (b).
(c) Should Landlord elect to re-enter, as herein provided, or should it take possession pursuant to legal proceedings, or pursuant to any notice provided for by law, it may make such alterations, additions, improvements and repairs as may be necessary in order to re-let the Premises, and may but need not re-let the Premises or any part thereof for such term or terms (cwhich may be for a term extending beyond the Lease Term of this Lease) maintain Tenant’s right and at such rental or rentals and upon such other terms and conditions as Landlord may determine to possession, in which case this Lease shall continue in effect and be advisable; upon each such re-letting all rentals received by Landlord shall be entitled applied: (i) first to the payment of any costs and expenses of such re-letting, including brokerage fees and attorney’s fees and the cost of such alterations, additions, improvements and repairs; and (ii) second, to the payment of Base Rent due and unpaid hereunder, and the residue, if any, shall be held by Landlord and applied in payment of future rent as the same may become due and payable hereunder provided that Tenant shall have no right to claim any interest in all or any portion of said residue and if the rent and other charges paid or to be paid to Landlord by any new tenant pursuant to any re-letting exceed the monetary obligations of Tenant, Tenant shall have no right to claim any interest in all or any portion of said excess. If such rental received from such re-letting during any month shall be less than that to be paid during such month by Tenant hereunder, Tenant shall pay any such deficiency to Landlord, and such deficiency shall be calculated and paid monthly on the date on which the rent would have been payable hereunder if possession had not been retaken. If, during the existing Lease Term of this Lease, the premises covered thereby include other premises not part of the Premises, a fair apportionment of the rent received from such re-letting and the expenses incurred in connection therewith as provided aforesaid will be made in determining the net proceeds from such re-letting, and any rent concessions will be equally apportioned over the term of the new lease. Landlord shall in no event be liable in any way whatsoever for failure to re-let the Premises for any reason, or in the event the Premises are re-let, for failure to collect the rent therefor under such re-letting. No such reentry or taking possession of the Premises by Landlord, nor any acts pursuant thereto, shall be construed as an election on its part to terminate this Lease unless a written notice of such termination is given to Tenant by Landlord. No notice from Landlord under this Lease or under any applicable forcible entry and detainer or eviction statue or similar law shall constitute an election by Landlord to terminate this Lease unless such notice specifically so states. Notwithstanding any such re-letting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous breach.
(d) Should Landlord at any time terminate this Lease for any default or breach, in addition to any other remedies it may have, it may recover from Tenant the following:
(i) The worth at the time of any unpaid rent which has been earned at the time of such termination; plus
(ii) The worth at the time of the award of the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus
(iii) The worth at the time of the award of the amount by which the unpaid rent for the balance of the Lease Term after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus
(iv) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, specifically including but not limited to, brokerage commissions and advertising expenses incurred, expenses of remodeling the Premises or any portion thereof for a new tenant, whether for the same or a different use, and any special concessions made to obtain a new tenant; and
(v) At Landlord’s election, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable law. As used in Sections 17.2(d)(i) and (ii), above, the “worth at the time of award” shall be computed by allowing interest at the rate set forth in Section 25.4 of this Lease, but in no case greater than the maximum amount of such interest permitted by law. As used in Section 17.2 (d)(iii) above, the worth at the time of award shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%).
(e) Landlord shall have the remedy described in California Civil Code Section 1951.4 (lessor may continue the lease in effect after lessee’s breach and abandonment and recover rent as it becomes due, if lessee has the right to sublet or assign, subject only to reasonable limitations). Accordingly, if Landlord does not elect to terminate this Lease on account of any default by Tenant, Landlord may, from time to time, without terminating this Lease, enforce all of Landlord’s right its rights and remedies under this Lease, include including the right to recover all Rent as it becomes due.
(f) Each of the Rent remedies set forth hereinabove in this Section 17 shall not be exclusive, but rather shall be considered cumulative with any other legal or equitable remedy now or hereafter available to Landlord under the laws or judicial decisions of the state in which the Premises are located. To the extent such waiver is permitted by law, the parties waive trial by jury in any action or proceeding brought in connection with this Lease. Suit or suits for the recovery of the amount of damages set forth hereinabove may be brought by Landlord, from time to time, at Landlord’s election, and other nothing herein shall be deemed to require Landlord to await the date whereon this Lease or the Lease Term hereof would have expired had there been no event of default. Nothing contained in this Lease shall limit or prejudice the right of Landlord to prove and obtain as liquidated damages in any bankruptcy, insolvency, receivership, reorganization or dissolution proceeding an amount equal to the maximum allowed by any statue or rule of law governing such proceeding and in effect at the time when such damages are to be proved, whether or not such amount be greater, equal to or less than the amounts payable hereunder recoverable, either as they become due hereunderdamages or rent, referred to in any of the preceding provisions of this Section.
Appears in 2 contracts
Samples: Office Lease (Zendesk, Inc.), Office Lease (Zendesk, Inc.)
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinsuch material default or breach by Tenant, Landlord maymay at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: (a) perform on Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain breach.
a. Terminate Tenant’s right to possessionpossession of the Premises by any lawful means, in which case this Lease shall continue in effect terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such event Landlord shall be entitled to enforce recover from Tenant all damages incurred by Landlord by reason of LandlordTenant’s right default including, but not limited to, the cost of recovering possession of the Premises; expenses of reletting, including necessary renovation and remedies under alteration of the Premises, reasonable attorney’s fees, any real estate commission actually paid, the worth at the time of award by the court having jurisdiction thereof of the amount by which the unpaid rent for the balance of the term after the time of such award exceeds the amount of such rental loss for the same period that Tenant proves could be reasonably avoided; that portion of the leasing commission paid by Landlord and applicable to the unexpired term of this Lease. Unpaid installments of rent or other sums shall bear interest from the date due at the rate of ten (10%) percent per annum. In the event Tenant shall have abandoned the Premises, include Landlord shall have the right to recover option of (a) taking possession of the Rent Premises and other amounts payable hereunder as they become due hereunderrecovering from Tenant the amount specified in this paragraph, or (b) proceeding under the provisions of the following Article 24.b.
Appears in 2 contracts
Samples: Office Building Lease (Cross Country Healthcare Inc), Office Building Lease (Cross Country Healthcare Inc)
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such material default or breach by Tenant, Landlord maymay at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such default or breach:
24.a. Terminate Tenant's right to possession of the Premises by any lawful means, in which case this Lease shall terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such defaultevent Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant's default including, but not limited to, the remedies cost of recovering possession of the Premises; expenses of reletting, including necessary renovation and alteration of the Premises, reasonable attorney's fees, any real estate commission actually paid; the worth at the time of award by the court having jurisdiction thereof of the amount by which the unpaid rent for the balance of the term after the time of such award exceeds the amount of such rental loss for the same period that Tenant proves could be reasonably avoided; that portion of the leasing commission paid by Landlord hereunder being cumulative and not exclusive applicable to the unexpired term of one another: this Lease. Unpaid installments of rent or other sums shall bear interest from the date due at the rate of ten (10%) per cent per annum. In the event Tenant shall have abandoned the Premises, Landlord shall have the option of (a) perform on Tenant’s behalftaking possession of the Premises and recovering from Tenant the amount specified in this paragraph, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) proceeding under the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion provisions of the Term, plus the reasonable cost to Landlord of any repairs required to comply with following par. 24.b.
24.b. Maintain Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s 's right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises. In such event Landlord shall be entitled to enforce all of Landlord’s right 's rights and remedies under this Lease, include including the right to recover the Rent and other amounts payable hereunder rent as they become it becomes due hereunder.
24.c. Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decision of the State in which the Premises are located.
Appears in 2 contracts
Samples: Sublease (Quokka Sports Inc), Sublease (Quokka Sports Inc)
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default any such default or breach by Lessee, Lessor may at any tine thereafter, with or without notice or demand and after the applicable notice and cure period, and subject to terms and conditions provided herein, Landlord may, without limiting Landlord Lessor in the exercise of any other a right or remedy that Landlord may which Lessor any have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: breach:
(a) Immediately terminate Lessee's right to possession of the Premises, and repossess the same by summary proceedings or other appropriate action, and Lessor shall thereupon be entitled to receive from Lessee all damages specified in California Civil Code Section 1951.2(a), including (1) the worth at the tine of award of the unpaid rent which had been earned at the time of termination (2) the worth at the time of award of the amount by which the unpaid rent which would have been earned exceeds the amount of such rental loss that Lessee proves could have been reasonably avoided; (3) the worth at the tine of award of the amount by which the unpaid rent for the balance of the term after the time of award exceeds the amount of such rental loss that the Lessee proves could be reasonably avoided; and (4) any other amount necessary to compensate Lessor for all the detriment approximately by the Lessee's failure to perform on Tenant’s behalf, any unperformed covenant its obligations under this Lease or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except which in the case ordinary course of emergency), things would be likely to result therefrom. All of such damages to the extent specified in which event Tenant Section 1951.2(b) shall reimburse Landlord for all expenses reasonably incurred be computed by Landlord in doing so, plus allowing interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlordrate of ten (10%) per annum; and/or or LESSOR INITIAL /S/ LESSEE INITIAL /S/
(b) terminate Continue this Lease in effect without terminating Lessee's right to possession even though Lessee has breached this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of abandoned the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s right to possession, in which case this Lease shall continue in effect and Landlord shall be entitled to enforce all all, of Landlord’s right Lessor's rights and remedies under this Lease, include including the right to recover the Rent rent as it becomes due under this Lease; provided, however, that Lessor may at any time thereafter elect to terminate this Lease for such breach by modifying Lessee in writing that Lessee's right to possession of the Premises has been terminated; or
(c) Pursue any other remedy now or hereafter available to Lessor under the laws or judicial decisions of the State of California. Lessor's failure to take advantage of any default or breach of covenant on the part of Lessee shall not be or be construed to be a waiver thereof, nor shall any custom or practice which may grow up between the parties in the course of administering this Lease he construed to waive or to lessen the right of Lessor to insist upon the performance by Lessee of any term, covenant or condition hereof, or to exercise any rights given him on account of any such default. A waiver of a particular breach, or default, shall not be deemed to be a waiver of the same or any subsequent breach or default. The acceptance of rent hereunder shall not be, or be construed to be, a waiver of any term, covenant or condition of this Lease or breach thereof. For the purposes of this Article 23, the term "rent: shall be deemed to be the minimum rent and all other amounts payable hereunder sums required to be paid by Lessee pursuant to the terms of this Lease, including, without limitation, percentage rent and Adjustments. In computing damages or rental due under this Lease, the value of percentage rent for any period subsequent to the termination of this Lease or of Lessee's right of possession shall be an amount per year equal to one-third (1/3) of the total percentage rent paid by Lessee for the last three (3) full lease years immediately preceding such termination and if less than three (3) full years have lapsed, such value shall be an amount per year equal to the average yearly percentage rent theretofore paid by Lessee. The voluntary or other surrender of this Lease by Lessee, or a mutual cancellation of this Lease, shall, at Lessor's option, either not result in a merger and shall operate as they become due hereunderan assignment to Lessor of any and all subleases made by Lessee, or shall terminate all such existing subleases.
Appears in 2 contracts
Samples: Shopping Center Lease (Futon World Inc), Shopping Center Lease (Futon World Inc)
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such material default or breach by Tenant, Landlord maymay at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such default or breach;
24.a. Terminate Tenant’s right to possession of the Premises by any lawful means, in which case this Lease shall terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such defaultevent Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant’s default including, but not limited to, the remedies cost of recovering possession of the Premises; expenses of reletting, including necessary renovation and alteration of the Premises, reasonable attorney’s fees, any real estate commission actually paid; the worth at the time of award by the court having jurisdiction thereof of the amount by which the unpaid rent for the balance of the term after the time of such award exceeds the amount of such rental loss for the same period that Tenant proves could be reasonably avoided; that portion of the leasing commission paid by Landlord hereunder being cumulative and not exclusive applicable to the unexpired term of one another: this Lease. Unpaid installments of rent or other sums shall bear interest from the date due at the rate of ten (10%) percent per annum. In the event Tenant shall have abandoned the Premises, Landlord shall have the option of (a) perform on Tenant’s behalftaking possession of the Premises and recovering from Tenant the amount specified in this paragraph, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) proceeding under the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion provisions of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain following Article 24.b.
24.b. Maintain Tenant’s right to possession, in which case this Lease shall continue in effect and affect whether or not Tenant shall have abandoned the Premises. In such event Landlord shall be entitled to enforce all of Landlord’s right rights and remedies under this Lease, include including the right to recover the Rent and other amounts payable hereunder rent as they become it becomes due hereunder.
24.c. Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decision of the State in which the Premises are located.
Appears in 2 contracts
Samples: Office Building Lease (Castle Biosciences Inc), Office Building Lease (Castle Biosciences Inc)
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant any Event of Default and after the applicable or other breach by Tenant, Landlord may at any time thereafter, with or without notice and cure periodor demand, and subject to terms and conditions provided herein, Landlord may, without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such Event of Default or such defaultbreach:
a. Reenter and take possession of the Premises or any part thereof and repossess the same as of Landlord’s former estate and expel Tenant and those claiming through or under Tenant and remove the effects of both or either, without being deemed guilty of any manner of trespass and without prejudice to any remedies for arrears of Rent or preceding breach of covenants or conditions. Should Landlord elect to reenter, as provided in this paragraph, or should Landlord take possession pursuant to legal proceedings or pursuant to any notice provided for by law, Landlord may, from time-to-time, without terminating this Lease, relet the remedies Premises or any part thereof, either alone or in conjunction with other portions of Landlord hereunder being cumulative and not exclusive the Building of one another: (a) perform on which the Premises are a part, in Landlord’s or Tenant’s behalfname but 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 of this Lease) and on such conditions and upon such other terms (which may include concessions of free Rent and alteration and repair of the Premises) as Landlord, in its absolute discretion, may determine and Landlord may collect and receive the Rents therefor. Landlord shall in no way be responsible or liable for any unperformed covenant failure to relet the Premises, or obligation hereunder constituting any part thereof, or for any failure to collect any Rent due upon such Tenant Default (after giving Tenant reletting, but Landlord shall use commercially reasonable efforts to mitigate its damages. No such reentry or taking possession of the Premises by Landlord shall be construed as an election on Landlord’s part to terminate this Lease unless a written notice of Landlord’s such intention be given to do Tenant. No notice from Landlord hereunder or under a forcible entry and detainer statute or similar law shall constitute an election by Landlord to terminate this Lease unless such notice specifically so except in states. Landlord reserves the case of emergency)right following any such reentry and/or reletting to exercise its right to terminate this Lease by giving Tenant such written notice, in which event the Lease will terminate as specified in said notice.
b. If Landlord elects to take possession of the Premises as provided in Paragraph 23a above without terminating the Lease, Tenant shall reimburse pay to Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due Rent and other sums as herein provided, which would be payable hereunder to the date of termination; plus if such repossession had not occurred, less (ii) the aggregate rent remaining over the unexpired portion of the Termnet proceeds, plus the reasonable cost to Landlord if any, of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value reletting of the Premises over the remaining portion after deducting all of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s expenses incurred in connection with such reletting, including, but without limitation, all repossession costs, brokerage commissions, legal expenses, attorneys’ fees, expenses of employees, alteration, remodeling, and repair costs and expenses of preparation for such reletting. Unpaid installments of rent or other sums shall bear interest from the date due at the rate of twenty percent (20%) per annum. If, in connection with any reletting, the new lease term extends beyond the existing term or the premises covered thereby include other premises not part of the Premises, a fair apportionment of the Rent received from such reletting and the expenses incurred in connection therewith, as provided aforesaid, will be made in determining the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s right to possessionnet proceeds received from such reletting. In addition, in determining the net proceeds from such reletting, any Rent concessions will be apportioned over the term of the new lease unless Tenant agrees otherwise. Tenant shall pay such amounts to Landlord monthly on the days on which case this Lease shall continue in effect the Rent and all other amounts owing hereunder would have been payable if possession had not been retaken and Landlord shall be entitled to enforce receive the same from Tenant on each such day;
c. Give Tenant written notice of intention to terminate this Lease on the date of such given notice or on any later date specified therein and, on the date specified in such notice, Tenant’s right to possession of the Premises shall cease and the Lease shall thereupon be terminated, except as to Tenant’s liability hereunder as hereinafter provided, as if the expiration of the term fixed in such notice were the end of the term herein originally demised. In the event this Lease is terminated pursuant to the provisions of this Paragraph, Tenant shall remain liable to Landlord for damages in an amount equal to the Rent and other sums which would have been owing by Tenant hereunder for the balance of the term had this Lease not been terminated less the net proceeds, if any, of any reletting of the Premises by Landlord subsequent to such termination, after deducting all of Landlord’s right and remedies under this Leaseexpenses in connection with such reletting, include including, but without limitation, the right expenses enumerated above. Landlord shall be entitled to recover collect such damages from Tenant monthly on the days on which the Rent and other amounts would have been payable hereunder if this Lease had not been terminated and Landlord shall be entitled to receive the same from Tenant on each such day. Alternatively, at the option of Landlord, in the event this Lease is terminated, Landlord shall be entitled to recover forthwith against Tenant as they become due hereunderdamages for loss of the bargain and not as a penalty an amount equal to the worth at the time of termination of the excess, if any, of the amount of Rent reserved in this Lease for the balance of the term hereof over the then Reasonable Rental Value of the Premises for the same period plus all amounts incurred by Landlord in order to obtain possession of the Premises and relet the same, including attorneys’ fees, reletting expenses, alterations and repair costs, brokerage commissions and all other like amounts. It is agreed that the “Reasonable Rental Value” shall be the amount of rental which Landlord can obtain as Rent for the remaining balance of the term. Landlord agrees to use commercially reasonable efforts to mitigate its damages; or
d. Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decision of the State of Colorado.
Appears in 2 contracts
Samples: Lease (Brickell Biotech, Inc.), Lease (Signal Genetics, Inc.)
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant any Event of Default and after the applicable or other breach by Tenant, Landlord may at any time thereafter, with or without notice and cure periodor demand, and subject to terms and conditions provided herein, Landlord may, without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such Event of Default or breach:
a. Reenter and take possession of the Premises or any part thereof and repossess the same as of Landlord's former estate and expel Tenant and those claiming through or under Tenant and remove the effects of both or either, without being deemed guilty of any manner of trespass and without prejudice to any remedies for arrears of Rent or preceding breach of covenants or conditions. Should Landlord elect to reenter, as provided in this paragraph, or should Landlord take possession pursuant to legal proceedings or pursuant to any notice provided for by law, Landlord may, from time-to-time, without terminating this Lease, relet the Premises or any part thereof, either alone or in conjunction with other portions of the Building of which the Premises are a part, in Landlord's or Tenant's name but for the account of Tenant, for such defaultterm or terms (which may be greater or less than the period which would otherwise have constituted the balance of the term of this Lease) and on such conditions and upon such other terms (which may include concessions of free Rent and alteration and repair of the Premises) as Landlord, in its absolute discretion, may determine and Landlord may collect and receive the remedies Rents therefor. Landlord shall in no way be responsible or liable for any failure to relet the Premises, or any part thereof, or for any failure to collect any Rent due upon such reletting, but Landlord shall use commercially reasonable efforts to mitigate its damages. No such reentry or taking possession of the Premises by Landlord hereunder being cumulative and not exclusive of one another: (a) perform shall be construed as an election on Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant Landlord's part to terminate this Lease unless a written notice of Landlord’s such intention be given to do Tenant. No notice from Landlord hereunder or under a forcible entry and detainer statute or similar law shall constitute an election by Landlord to terminate this Lease unless such notice specifically so except in states. Landlord reserves the case of emergency)right following any such reentry and/or reletting to exercise its right to terminate this Lease by giving Tenant such written notice, in which event the Lease will terminate as specified in said notice.
b. If Landlord elects to take possession of the Premises as provided in Paragraph 23a above without terminating the Lease, Tenant shall reimburse pay to Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due Rent and other sums as herein provided, which would be payable hereunder to the date of termination; plus if such repossession had not occurred, less (ii) the aggregate rent remaining over the unexpired portion of the Termnet proceeds, plus the reasonable cost to Landlord if any, of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value reletting of the Premises over the remaining portion after deducting all of the Term (providedLandlord's expenses incurred in connection with such reletting, howeverincluding, a reasonable period but without limitation, all repossession costs, brokerage commissions, legal expenses, attorneys' fees, expenses of timeemployees, not to exceed twenty four (24) monthsalteration, may be considered as a leasing period by which the Premises would not be leased remodeling, and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s repair costs and expenses of preparation for such reletting. Unpaid installments of rent or other sums shall bear interest from the date due at the rate of twenty percent (20%) per annum. If, in connection with any reletting, the new lease term extends beyond the existing term or the premises covered thereby include other premises not part of the Premises, a fair apportionment of the Rent received from such reletting and the expenses incurred in connection therewith, as provided aforesaid, will be made in determining the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s right to possessionnet proceeds received from such reletting. In addition, in determining the net proceeds from such reletting, any Rent concessions will be apportioned over the term of the new lease unless Tenant agrees otherwise. Tenant shall pay such amounts to Landlord monthly on the days on which case this Lease shall continue in effect the Rent and all other amounts owing hereunder would have been payable if possession had not been retaken and Landlord shall be entitled to enforce all receive the same from Tenant on each such day;
c. Give Tenant written notice of Landlord’s right and remedies under intention to terminate this LeaseLease on the date of such given notice or on any later date specified therein and, include on the date specified in such notice, Tenant's right to recover possession of the Premises shall cease and the Lease shall thereupon be terminated, except as to Tenant's liability hereunder as hereinafter provided, as if the expiration of the term fixed in such notice were the end of the term herein originally demised. In the event this Lease is terminated pursuant to the provisions of this Paragraph, Tenant shall remain liable to Landlord for damages in an amount equal to the Rent and other sums which would have been owing by Tenant hereunder for the balance of the term had this Lease not been terminated less the net proceeds, if any, of any reletting of the Premises by Landlord subsequent to such termination, after deducting all Landlord's expenses in connection with such reletting, including, but without limitation, the expenses enumerated above. Landlord shall be entitled to collect such damages from Tenant monthly on the days on which the Rent and other amounts would have been payable hereunder if this Lease had not been terminated and Landlord shall be entitled to receive the same from Tenant on each such day. Alternatively, at the option of Landlord, in the event this Lease is terminated, Landlord shall be entitled to recover forthwith against Tenant as they become due hereunderdamages for loss of the bargain and not as a penalty an amount equal to the worth at the time of termination of the excess, if any, of the amount of Rent reserved in this Lease for the balance of the term hereof over the then Reasonable Rental Value of the Premises for the same period plus all amounts incurred by Landlord in order to obtain possession of the Premises and relet the same, including attorneys' fees, reletting expenses, alterations and repair costs, brokerage commissions and all other like amounts. It is agreed that the "Reasonable Rental Value" shall be the amount of rental which Landlord can obtain as Rent for the remaining balance of the term. Landlord agrees to use commercially reasonable efforts to mitigate its damages; or
d. Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decision of the State of Colorado.
Appears in 1 contract
REMEDIES IN DEFAULT. On (a) In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such default or breach by Tenant, Landlord mayshall have the right at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other right or remedy that which Landlord may otherwise have by reason of such default or such defaultbreach, to terminate this Lease at its option or to re-enter and at its option to attempt to re-let without terminating this Lease and remove all persons and property from the Premises, using any force as may reasonably be necessary to accomplish said purposes, all without service of notice or resort to legal process and without being deemed guilty of trespass or forcible entry or becoming liable for any loss or damage which may be occasioned thereby.
(b) If Tenant shall fail to remove any effects which it is entitled to remove from the Premises upon the termination of this Lease, or any extension or renewal hereof, or upon a re-entry by Landlord for any cause whatsoever, or upon Tenant’s ceasing to possess the Premises for any reason, the remedies Landlord, at its option, may remove the same and store or dispose of the said effects without liability for loss or damage thereto, and Tenant agrees to pay to Landlord hereunder being cumulative on demand any and not exclusive all expenses incurred in such removal, including Court costs, attorneys fees, storage and insurance charges on such effects for any length of one another: (a) perform on time the same shall be in Landlord’s possession; or the Landlord, at its option, without notice, may sell such effects, or any of them, at private or public sale and without legal process, for such price or consideration as the Landlord may obtain, and apply the proceeds of such sale upon any amounts due under this Lease from the Tenant to the Landlord, and upon the expenses incidental to the removing, cleaning the Premises, selling said effects, and any other expense, rendering the surplus, if any, to the Tenant; provided, however, in the event the proceeds of such sale or sales are insufficient to reimburse the Landlord, Tenant shall pay such deficiency upon demand. Tenant acknowledges and agrees that any such disposition of Tenant’s behalfproperty in the above-described manner by the Landlord shall be deemed to be commercially reasonable and that no bailment shall be created by Landlord’s exercise of any of its rights under this subparagraph (b).
(c) Should Landlord elect to re-enter, as herein provided, or should it take possession pursuant to legal proceedings, or pursuant to any unperformed covenant notice provided for by law, it may make such alterations, additions, improvements and repairs as may be necessary in order to re-let the Premises, and may but need not re-let the Premises or obligation any part thereof for such term or terms (which may be for a term extending beyond the term of this Lease) and at such rental or rentals and upon such other terms and conditions as Landlord may determine to be advisable; upon each such re-letting all rentals received by the Landlord; shall be applied i) first to the payment of any costs and expenses of such re-letting, including brokerage fees and attorney’s fees and the cost of such alterations, additions, improvements and repairs; ii) second, to the payment of Base Rent due and unpaid hereunder, and the residue, if any, shall be held by Landlord and applied in payment of future rent as the same may become due and payable hereunder constituting provided that Tenant shall have no right to claim any interest in all or any portion of said residue and if the rent and other charges paid or to be paid to Landlord by any new tenant pursuant to any re-letting exceed the monetary obligations of Tenant, Tenant shall have no right to claim any interest in all or any portion of said excess. If such rental received from such re-letting during any month be less than that to be paid during the month by Tenant Default (after giving hereunder, Tenant shall pay any such deficiency to Landlord, and such deficiency shall be calculated and paid monthly on the date on which the rent would have been payable hereunder if possession had not been retaken. If, during the existing term of this Lease, the premises covered thereby include other premises not part of the Premises, a fair apportionment of the rent received from such re-letting and the expenses incurred in connection therewith as provided aforesaid will be made in determining the net proceeds from such re-letting and the expenses incurred in connection therewith as provided aforesaid will be made in determining the net proceeds from such re-letting, and any rent concessions will be equally apportioned over the term of the new lease. Landlord shall in no event be liable in any way whatsoever for failure to re-let the Premises for any reason, or in the event the Premises are re-let, for failure to collect the rent thereof under such re-letting. No such reentry or taking possession of the Premises by Landlord, nor any acts pursuant thereto, shall be construed as an election on its part to terminate this Lease unless a written notice of such termination be given to Tenant by Landlord’s intention to do so except in the case of emergency), in which event Tenant . No notice from Landlord under this Lease or under any applicable forcible entry and detainer or eviction statue or similar law shall reimburse Landlord for all expenses reasonably incurred constitute an election by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) to terminate this Lease and collect liquidated damages unless such notice specifically so states. Notwithstanding any such re-letting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous breach.
(d) Should Landlord at any time terminate this Lease for any default or breach, in addition to any other remedies it may have, it may recover from Tenant in an all damages it may incur by reason of such default or breach, including the cost of recovering the Premises, reasonable attorneys fees, and including the worth at the time of such termination of the excess, if any, of the amount equal of rent and such other charges as are required to (i) be paid by Tenant under the sum terms of all amounts due hereunder to this Lease for the date remainder of termination; plus (ii) the aggregate rent remaining stated term over the unexpired portion of the Term, plus the then reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over for the remaining portion remainder of the Term (stated term, all of which amounts shall be immediately due and payable from Tenant to Landlord; provided, however, a that if the then reasonable period rental value of timethe Premises exceeds the value of the rent and other charges required to be paid by Tenant under this Lease as aforesaid, Tenant shall have no right to claim any interest in all or any portion of such excess. In determining the rent which would be payable by Tenant hereunder, subsequent to default, the annual rent for each year of the unexpired term shall be equal to the average annual Base Rent and Additional Rent paid or payable by Tenant from the Commencement Date of this Lease to the time of default, or during the preceding three (3) full calendar years, whichever is shorter; and
(e) Each of the remedies set forth hereinabove in this Section 17 shall not to exceed twenty four (24) monthsbe exclusive, may but rather shall be considered as a leasing period by cumulative with any other legal or equitable remedy now or hereafter available to Landlord under the laws or judicial decisions of the state in which the Premises would not are located. To the extent such waiver is permitted by law, the parties waive trial by jury in any action or proceeding brought in connection with this Lease. Suit or suits for the recovery of the amount of damages set forth hereinabove may be leased and therefore no income would be realized for such period) reduced brought by Landlord, from time to present value time, at the above specified discount rate; plus (iv) Landlord’s costs election, and expenses incurred nothing herein shall be deemed to require Landlord to await the date whereon this Lease or the term hereof would have expired had there been no event of default. Nothing contained in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s right to possession, in which case this Lease shall continue limit or prejudice the right of Landlord to prove and obtain as liquidated damages in any bankruptcy, insolvency, receivership, reorganization or dissolution proceeding an amount equal to the maximum allowed by any statue or rule of law governing such proceeding and in effect and Landlord shall at the time when such damages are to be entitled proved, whether or not such amount be greater, equal to enforce all or less than the amounts recoverable, either as damages or rent, referred to in any of Landlord’s right and remedies under the preceding provisions of this Lease, include the right to recover the Rent and other amounts payable hereunder as they become due hereunderSection.
Appears in 1 contract
Samples: Office Lease (Infotech Usa Inc)
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such material default or breach by Tenant, Landlord maymay at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such default or breach:
A. Terminate Tenant's right to possession of the Premises by any lawful means, in which case this Lease shall terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such defaultevent Landlord shall be entitled to recover from Tenant all damages incurred by necessary renovation and alteration of the Premises, reasonable attorney's fees, any real estate commission actually paid, the remedies worth at the time of award by the court having jurisdiction thereof of the amount by which the unpaid rent for the balance of the term after the time of such award exceeds the amount of such rental loss for the same period that Tenant proves could be reasonably avoided, that portion of the leasing commission paid by Landlord hereunder being cumulative and not exclusive applicable to the unexpired term of one another: this Lease. Unpaid installments of rent or other sums shall bear interest from the date due at the rate of ten (10%) percent per annum. In the event Tenant shall have abandoned the Premises, Landlord shall have the option of (a) perform on Tenant’s behalftaking possession of the Premises and recovering from Tenant the amount specified in this paragraph, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) proceeding under the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion provisions of the Term, plus the reasonable cost to Landlord of any repairs required to comply with following Article 24.B.
B. Maintain Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s 's right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises. In such event Landlord shall be entitled to enforce all of Landlord’s 's right and remedies under this Lease, include including the right to recover the Rent and other amounts payable hereunder rent as they become it becomes due hereunder.
C. Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decision of the State in which the Premises are located.
Appears in 1 contract
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default any such default or breach by Lessee, in addition to any other remedies available to Lessor at law or in equity, Lessor may at any time thereafter, with or without notice or demand and after the applicable notice and cure period, and subject to terms and conditions provided herein, Landlord may, without limiting Landlord Lessor in the exercise of any other a right or remedy that Landlord which Lessor may have by reason of such default or breach at law or in equity: a. Re-enter and Take Possession. Re-enter said Premises, with or without process of law, using such defaultforce as may be required and remove all persons, fixtures or chattels therefrom. In the remedies event of Landlord hereunder being cumulative any such retaking of possession of Premises by Lessor herein provided, Lessee shall remove all personal property located thereon and not exclusive of one another: (a) perform on Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention upon failure to do so except upon demand of Lessor, Lessor may in addition to any other remedies allowed by law, remove and store the case of emergency)same in any place selected by Lessor, in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing soincluding but not limited to a public warehouse, plus interest at the Default Rateexpense and risk of Lessee. If Lessee shall fail to pay any sums due hereunder together with the cost of storing any such property after it has been stored for a period of thirty (30) days or more, which expenses and interest shall be additional rent Lessor may sell any or all of such property at public or private sale and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) apply the sum proceeds of all amounts due hereunder such sale first, to the date cost of terminationsuch sale; plus (ii) second, to the aggregate rent remaining over the unexpired portion payment of the Termcharges for storage, plus if any; and third, to the reasonable cost to Landlord payment of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate other sums of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, money which may be considered as a leasing period due from Lessee to Lessor under the terms of this Lease; and the balance, if any, to Lessee. Lessee hereby waives all claims for damages that may be caused by which Lessor's re-entering and taking possession of Premises or removing and storing or selling the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees property of Lessee as herein provided, and will indemnify and save Lessor harmless from loss, costs or (c) maintain Tenant’s right damages occasioned Lessee thereby, and no such re-entry shall be considered or construed to possessionbe a forcible entry. Upon such re-entry, in which case Lessor may elect either to declare this Lease forfeited and the Lease terminated, or without terminating the Lease, to re-let all or any part of the Premises as the agent of and for the account of the Lessee upon such terms and conditions as Lessor may deem advisable, for a term which may expire before or after the expiration date of this Lease. RE-ENTRY OR TAKING POSSESSION OF SAID PREMISES BY LESSOR SHALL NOT BE CONSTRUED AS AN ELECTION ON ITS PART TO TERMINATE THIS LEASE UNLESS A WRITTEN NOTICE OF SUCH INTENTION BE GIVEN TO LESSEE. Notwithstanding such re-entry by Lessor, or whether the Lease is terminated or not, the liability of Lessee for the rent provided for herein shall continue in effect and Landlord not be extinguished for the balance of the Term of this Lease. The rents received on such re-letting shall be entitled applied first to enforce all the expenses of Landlord’s right re-letting and remedies under this Lease, include the right to recover the Rent and other amounts payable hereunder collection as they become due hereunderhereinafter provided.
Appears in 1 contract
REMEDIES IN DEFAULT. On the occurrence If Tenant fails to pay rent as herein required or to perform any other covenant of this Lease, Landlord may re-enter and take possession of the Premises and shall have all the rights of a Landlord under the Laws of the state of Washington. Notwithstanding such retaking of possession by Landlord, Tenant Default shall remain liable for the rental for the balance of the term. Upon re-entering and after taking possession of the applicable notice and cure periodPremises, and subject to terms and conditions provided herein, the Landlord may, without limiting Landlord in the exercise of any other right or remedy that has several alternative options. The Landlord may have by reason or such default, elect:
1. To terminate/cancel the remedies of Landlord hereunder being cumulative and not exclusive of one another: (a) perform on Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)Lease, in which event Tenant shall reimburse Landlord the unpaid rent for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion balance of the Term, plus rental period if it is greater than the present reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over in the remaining portion market place shall be due and owing to the Landlord by the Tenant, or;
2. The Landlord may re-lease the Premises without terminating the Lease. The Landlord has the option to re-lease all or any part of the Term (provided, however, a reasonable period Premises that the Landlord is able to re-lease and which is deemed advisable in the opinion of time, not the Landlord to exceed twenty four (24) months, may re-lease. Upon any re-leasing of the property any and all rents received shall be considered as a accounted to for the Tenant. The Tenant shall be responsible for any differences between any rental amount collected by the Landlord on re-leasing period by which the Premises would not be leased and therefore no income would be realized for such periodthe rental rate of the Tenant under the Lease in determining the amount due. The Landlord may deduct from any rental amount the following associated expenses in releasing the Premises.
(a) reduced to present value at Any necessary renovations and alterations of the above specified discount rate; plus Premises;
(ivb) Landlord’s costs and expenses Reasonable attorney's fees incurred in re-leasing the enforcement hereof including reasonable attorneys fees as herein provided, or Premises;
(c) maintain Any real estate leasing commissions paid on re-leasing the space. DB DG -------- ------ LANDLORD TENANT The Tenant shall be responsible for payment to the Landlord monthly, any deficiency between the net amount received by the Landlord for the re-lease and the original lease amount agreed upon by the Tenant’s right to possession. In the event of re-entry or taking possession of the Premises, in which case this Lease shall continue in effect and Landlord shall be entitled have the right but not the obligation to enforce remove therefrom all property located therein and may store the same in any place selected by Landlord, including but not limited to a public warehouse at the expense and risk of Landlord’s right and remedies under this Lease, include Tenant thereof with the right to recover sell such property without notice to Tenant after it has been stored for a period of thirty (30) days. The proceeds of such sale shall be applied first to the Rent cost of sale, second to the payment of storage charges, and third to the payment of any other amounts payable hereunder as they become sums which may then be due hereunderto Landlord from Tenant, with any balance to be paid to Tenant.
Appears in 1 contract
Samples: Lease (Optiva Corp /Wa/)
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such default or breach by Tenant, Landlord maymay at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other right or remedy that which Landlord may have by reason of such default or such default, the remedies of breach: INDUSTRIAL LEASE - 8 Landlord hereunder being cumulative and not exclusive of one another: - initial _____ Landlord - Printed initial _____ Tenant - initial _____ Tenant - Printed initial _____
(a) perform on Terminate Tenant’s behalf, right to possession of the premises by any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)lawful means, in which case this Lease shall terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such event Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant’s default, including, but not limited to, the cost of recovering possession of the Premises; expenses of reletting, including necessary renovation and alteration of the Premises, reasonable attorney fees, and any real estate commission actually paid; the worth at the time of award by the court having jurisdiction thereof of the amount by which the unpaid rent for the balance of the term after the time of such award exceeds the amount of such rental loss for the same period that Tenant proves could be reasonably avoided; and that portion of the leasing commission paid by Landlord applicable to the unexpired term of this Lease. Unpaid installments of rent or other sums shall bear interest from the date due at the rate of ten percent (10%) per annum. In the event Tenant shall reimburse have abandoned the Premises, Landlord for all expenses reasonably incurred by Landlord shall have the option of retaking possession of the Premises and recovering from Tenant the amount specified in doing sothis Article 12.2(a), plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or or proceeding under Article 12.2(b).
(b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Maintain Tenant’s right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises. In such event, Landlord shall be entitled to enforce all of Landlord’s right rights and remedies under this Lease, include including the right to recover the Rent and other amounts payable hereunder rent as they become it becomes due hereunder.
(c) Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decisions of the state in which the Premises are located.
Appears in 1 contract
Samples: Industrial Lease (Arcimoto Inc)
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default any such material default or breach by Lessee, Lessor may at any time thereafter, with or without notice or demand and after the applicable notice and cure period, and subject to terms and conditions provided herein, Landlord may, without limiting Landlord Lessor in the exercise of any other a right or remedy that Landlord which Lessor may have by reason of such default or breach:
a. Terminate Lessee's right to possession of the Premises by any lawful means, in which case this Lease shall terminate and Lessee shall immediately surrender possession of the Premises to Lessor. In such defaultevent Lessor shall be entitled to recover from Lessee all damages incurred by necessary renovation and alteration of the Premises to put the Premises in the surrender condition required by this Lease, reasonable attorneys' fees, any real estate commission actually paid applicable to the remedies unexpired Lease Term; the worth at the time of Landlord hereunder being cumulative award by the court having jurisdiction thereof of the amount by which the unpaid rent for the balance of the Lease Term after the time of such award exceeds the amount of such rental loss for the same period that Lessee proves could be reasonably avoided; that portion of the leasing commission paid by Lessor and not exclusive applicable to the unexpired Lease Term. Unpaid installments of one another: rent or other sums shall bear interest from the date due at the rate of ten (10%) percent per annum. In the event Lessee shall have abandoned the Premises, Lessor shall have the option of (a) perform on Tenant’s behalftaking possession of the Premises and recovering from Lessee the amount specified in this paragraph, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) proceeding under the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion provisions of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s following Section 24.b.
b. Maintain Lessee's right to possession, in which case this Lease shall continue in effect and Landlord whether or not Lessee shall have abandoned the Premises. In such event Lessor shall be entitled to enforce all of Landlord’s Lessor's right and remedies under this Lease, include including the right to recover the Rent and other amounts payable hereunder rent as they become it becomes due hereunder, subject, however, to Lessor's obligation at law to mitigate damages.
c. Pursue any other remedy now or hereafter available to Lessor under the laws or judicial decision of the State in which the Premises are located.
Appears in 1 contract
Samples: Office Building Lease (Oacis Healthcare Holdings Corp)
REMEDIES IN DEFAULT. On In the occurrence event of the any such default or breach of Tenant Default and which remains uncured after the applicable notice and cure period. Landlord may at any time hereafter, with or without notice or demand and subject to terms and conditions provided herein, Landlord may, without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: (a) perform on breach:
24.A. Terminate Tenant’s behalf, right to possession of the Premises by any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)lawful means, in which event case this Lease shall terminate, and Tenant shall reimburse immediately surrender possession of the Premises to Landlord. In such event Landlord for shall be entitled to recover from Tenant all expenses reasonably damages incurred by Landlord in doing soby reason of Tenant’s default, plus interest including, but not limited to: the cost of recovering possession of the Premises: expenses of reletting, including necessary renovation and alteration of the Premises: reasonable attorney’s fees: the worth at the Default Rate, which expenses and interest shall be additional rent and shall be payable time of award by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion court having jurisdiction thereof of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period amount by which the Premises would not unpaid Minimum Monthly Rent. Adjustments and other charges called for herein for the balance of the term after the time of such award exceeds the amount of such loss for the same period that Tenant proves could be leased reasonably avoided; and therefore no income would be realized for such period) reduced that portion of any leasing commission paid by Landlord and applicable to present value the unexpired term of this Lease. Unpaid installments of Minimum Monthly Rent or other sums shall bear interest from the date due at the above specified discount ratemaximum rate of interest then permitted by law; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain or
24.B. Maintain Tenant’s right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises. In such event Landlord shall be he entitled to enforce all of Landlord’s right rights and remedies under this Lease, include including the right to recover the Minimum Monthly Rent and any other amounts payable hereunder charges and Adjustments as they may become due hereunder: or
24.C. Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decisions of the State in which the Premises are located.
Appears in 1 contract
Samples: Lease (Sunesis Pharmaceuticals Inc)
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such default or breach by Tenant, Landlord maymay at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other right or remedy that which Landlord may have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: breach:
(a) perform on Terminate Tenant’s behalf, 's right to possession of the Premises by any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)lawful means, in which event case this Lease shall terminate and Tenant shall reimburse immediately surrender possession of the Premises to Landlord. In such event Landlord for shall be entitled to recover from Tenant all expenses reasonably damages incurred by Landlord in doing soby reason of Tenant's default, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to including but not limited to: (i) the sum cost of all amounts due hereunder to recovering possession of the date of terminationPremises; plus (ii) the aggregate rent remaining over the unexpired portion expenses of reletting, including necessary renovation and alteration of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the TermPremises; less (iii) reasonable attorneys' fees, and any real estate commission actually paid applicable to the aggregate fair net rental value unexpired Term of this Lease; (iv) the worth at the time of the award determined by the court having jurisdiction thereof of the unpaid Rent that had been earned at the time of termination of this Lease; and (v) any other reasonable amount, and court costs necessary to compensate Landlord for all detriment proximately caused by Tenant's default. In the event Tenant shall have abandoned the Premises, Landlord shall have the option of (1) retaking possession of the Premises over subject to applicable laws and regulations, taking possession of all personal property remaining in the remaining portion Premises and recovering from Tenant the amount specified in this Section 14.2(a) and Section 14.2(d); or (2) proceeding under Section 14.2(b). As used in this Section, the term "the worth at the time of the Term (provided, however, a reasonable period award" is to be computed by discounting the total Rent payable by the amount of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value discount rate of the Federal Reserve Bank of San Francisco at the above specified discount rate; time of the award, plus one percent (iv1%).
(b) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Maintain Tenant’s 's right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises. In such event, Landlord shall be entitled to enforce all of Landlord’s right 's rights and remedies under this Lease, include Lease including the right to recover the Rent and other amounts payable hereunder as they become it becomes due hereunder.
(c) Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decisions of the state in which the Premises are located.
(d) Any Rent or other charge that is not paid when due shall bear interest from the date due until paid at the rate of twelve (12%) per annum; provided, however, that in no event shall such rate to be charged Tenant exceed the rate otherwise permitted by law.
Appears in 1 contract
Samples: Lease Agreement (Cutter & Buck Inc)
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such material default or breach by Tenant, Landlord maymay at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such default or breach:
24.a. Terminate Tenant's right to possession of the Premises by any lawful means, in which case this Lease shall terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such defaultevent Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant's default including, but not limited to, the remedies cost of recovering possession of the premises; expenses of reletting, including necessary renovation and alteration of the Premises, reasonable attorney's fees, any real estate commission actually paid; the worth at the time of award by the court having jurisdiction thereof of the amount by which the unpaid rent for the balance of the term after the time of such award exceeds the amount of such rental loss for the same period that Tenant proves could be reasonably avoided; that portion of the leasing commission paid by Landlord hereunder being cumulative and not exclusive applicable to the unexpired term of one another: this lease. Unpaid installments of rent or other sums shall bear interest from the date due at the rate of ten (10%) per cent per annum. In the event Tenant shall have abandoned the Premises, Landlord shall have the option of (a) perform on Tenant’s behalftaking possession of the Premises and recovering from Tenant the amount specified in this paragraph, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) proceeding under the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion provisions of the Term, plus the reasonable cost to Landlord of any repairs required to comply with following Article 24.
24.b. Maintain Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s 's right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises. In such event Landlord shall be entitled to enforce all of Landlord’s right 's rights and remedies under this Lease, include including the right to recover the Rent and other amounts payable hereunder rent as they become it becomes due hereunder.
24.c. Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decision of the State in which the Premises are located.
Appears in 1 contract
Samples: Office Building Lease (Diagnostic Retrieval Systems Inc)
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable any such default or breach by Tenant, Landlord may at any time thereafter, with or without notice and cure periodor demand, and subject to terms and conditions provided herein, Landlord may, without limiting Landlord in the exercise of any other right or remedy that which Landlord may have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: breach:
(a) perform on Terminate Tenant’s behalf, 's right to possession of the Premises by any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)lawful means, in which case this Lease shall terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such event Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant's default including, but not limited to, the cost of recovering possession of the Premises; expenses of reletting, including necessary renovation and alteration of the Premises, reasonable attorney's fees, and any real estate commission actually paid; the worth at the time of the award by the court having jurisdiction thereof of the amount by which the unpaid rent for the balance of the term after the time of such award exceeds the amount of such rental loss for the same period that Tenant proves could be reasonably avoided; and that portion of the leasing commission paid by Landlord applicable to the unexpired term of this Lease. Unpaid installments of rent or other sums shall bear interest from the date due at the rate of ten (10% percent per annum). In the event Tenant shall reimburse have abandoned the Premises, Landlord for all expenses reasonably incurred by Landlord shall have the option of (I) retaking possession of the Premises and recovering from Tenant the amount specified in doing sothis Article 14.2(a), plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or or (ii) proceeding under Article 14.2(b).
(b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Maintain Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s 's right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises. In such event, Landlord shall be entitled to enforce all of Landlord’s right 's rights and remedies under this Lease, include including the right to recover the Rent and other amounts payable hereunder rent as they become it becomes due hereunder.
Appears in 1 contract
Samples: Industrial Lease (Cerprobe Corp)
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such default or breach by Tenant, Landlord maymay at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: breach:
(a) perform on Terminate Tenant’s behalf, 's right to possession of the Premises by any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)lawful means, in which event case this Lease shall terminate and Tenant shall reimburse immediately surrender possession of the Premises to Landlord. In such event Landlord for shall be entitled to recover from Tenant all expenses reasonably damages incurred by Landlord in doing soby reason of Tenant's default including, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to without limitation: (i) the sum cost of all amounts due hereunder to recovering possession of the date of terminationPremises; plus (ii) the aggregate rent remaining over the unexpired portion expenses of reletting, including necessary renovation and alteration of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the TermPremises; less (iii) the aggregate fair net worth at the time of award by the court having jurisdiction thereof of the amount by which the unpaid rent for the balance of the term after the time of such award exceeds the amount of such rental value loss for the same period that Tenant proves could be reasonably avoided; (iv) that portion of any leasing commission paid by Landlord and applicable to the unexpired term of this Lease; and (v) any other amounts allowed by law. Unpaid installments of rent or other sums shall bear interest from the date due at the maximum rate allowed by law from time to time. In the event Tenant shall have abandoned the Premises, Landlord shall have the option of (1) taking possession of the Premises over and recovering from Tenant the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above amount specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein providedthis paragraph, or (c2) maintain proceeding under the following provisions of this Section.
(b) Maintain Tenant’s 's right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises. In such event Landlord shall be entitled to enforce all of Landlord’s right 's rights and remedies under this Lease, include including the right to recover the Rent rent as it becomes due or to relet the Premises or any part thereof for such term and on such provisions as Landlord, in its sole discretion, may deem advisable.
(c) Re-enter the Premises, with or without terminating this Lease, and remove all property and persons therefrom, which property may be stored at a public warehouse or elsewhere at Tenant's cost.
(d) After ten (10) days' notice to Tenant, or a shorter period if additional damage may result, cure the default for the account and at the expense of Tenant, which amount shall be due from Tenant to Landlord immediately upon demand.
(e) Pursue any other amounts payable hereunder as they become due hereunderremedy now or hereafter available to Landlord under the laws of the State of California.
Appears in 1 contract
REMEDIES IN DEFAULT. On the occurrence of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinUpon any default or breach by Tenant, Landlord -------------------- may, at its option, at any time with or without notice or demand and without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such default or such defaultbreach, the remedies of Landlord hereunder being cumulative and not exclusive of one another: elect to:
(a) perform on Terminate Tenant’s behalf, 's right to possession of the Premises by any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)lawful means, in which event case this Lease shall terminate and Tenant shall reimburse immediately surrender possession of the Premises to Landlord. Landlord for shall be entitled to recover from Tenant all expenses reasonably damages incurred by Landlord by reason of Tenant's default including, but not limited to, the costs actually incurred in doing sorecovering possession and the amount by which the unpaid rent for the balance of the lease term after the default exceeds the amount Landlord receives, plus if any, from subsequent tenants upon the exercise of reasonable efforts to relet the Premises. Unpaid installments of rent or other sums shall bear interest from the date due at the Default Raterate of one and one-half (1- 1/2%) percent per month (18% per annum) until paid. If Tenant abandons the Premises, which expenses Landlord shall have the option of (a) taking possession of the Premises and interest shall be additional rent and shall be payable by recovering from Tenant immediately on demand therefore by Landlord; and/or t-he amount specified in this paragraph, or (b) terminate proceeding under the other provisions of this Lease and collect liquidated damages from Tenant in an amount equal to Section 23; or
(ib) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Maintain Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s 's right to possession, in which case this Lease shall continue in effect and whether or not Tenant abandons the Premises. In such event Landlord shall be entitled to enforce all of Landlord’s right 's rights and remedies under this Lease, include including the right to recover the Rent rent as it becomes due. No re-entry or taking possession of the premises by Landlord shall be construed as an election to terminate the Lease unless a notice of such intention to terminate be given to Tenant. Notwithstanding any such reletting on behalf of the Tenant without termination, the Landlord shall have the right at any time after reletting to elect to terminate the Lease and to proceed under the provisions of subsection (a) with regard to an award for reserved rent. Interest on past due rent shall accrue at a rate equal to one and one half (1- 1/2%) percent per month (18% per year).
(c) If Tenant defaults or breaches this Lease, all of Tenant's fixtures, furniture, equipment, improvements, additions, alterations and other amounts personal property shall remain on the Premises. During the period of default, Landlord shall have the right to take the exclusive possession of such items and to use them, rent or charge free, until all defaults are cured. At Landlord's option, at any time Tenant is in default during the term of this Lease, Landlord may require Tenant to immediately remove all or a portion of such items in a manner which restores all or a portion of the Leased Premises (at Landlord's discretion) to the condition existing as of the commencement of this Lease. If Tenant fails to comply with this removal requirement, Landlord may employ persons to accomplish the removal and add the costs incurred to the rent owed by Tenant.
(d) In considerstion of the mutual benefits arising under this Lease, Tenant hereby grants to Landlord a lien and security interest, for collection of rent and all additional charges, on and against all personal property of Tenant from time to time situated on the Premises. The lien shall secure the payment of all rent and additional charges payable hereunder by Tenant to Landlord under this Lease. The provisions of this paragraph describing the lien and security interest shall constitute a security agreement under the Uniform Commercial Code so that Landlord shall have and may enforce a security interest on all property of Tenant now or hereafter placed in or on the Premises, including but not limited to all fixtures, machinery, equipment, invert:cry, furnishings and other articles of personal property now or hereafter placed in or upon the Premises by Tenant. Tenant agrees to execute as they become due hereunderdebtor such financing statement or statements as Landlord may now or hereafter reasonably request in order that such security interest or interests may be perfected pursuant to the Uniform Commercial Code. Landlord, as a secured party, shall be entitled to all of the rights and remedies afforded a secured party under the Uniform Commercial Code in addition to and cumulative of the Landlord's liens and rights otherwise provided by law or by the other terms and provisions of this Lease.
(e) Pursue any other remedy now or hereafter available to Landlord under the laws or Judicial decisions of the State of Colorado.
Appears in 1 contract
Samples: Lease (Visual Numerics Inc)
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such default or breach by Tenant, Landlord maymay at any time thereafter, with notice or demand and without limiting Landlord in the exercise of any other right or remedy that which Landlord may have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: breach:
(a) perform on TenantTerminate Xxxxxx’s behalf, right to possession of the Premises by any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)lawful means, in which event case this Lease shall terminate and Tenant shall reimburse immediately surrender possession of the Premises to Landlord. In such event Landlord for shall be entitled to recover from Tenant all expenses reasonably damages incurred by Landlord in doing soby reason of Tenant’s default, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to including but not limited to:
(i) the sum cost of all amounts due hereunder to recovering possession of the date of terminationPremises; plus and
(ii) expenses of re-letting, including necessary renovation and alteration of the aggregate rent remaining over the unexpired Premises;
(iii) reasonable attorneys’ fees, any real estate commission actually paid, and that portion of the Termleasing commission, plus the reasonable cost if any, paid by Landlord pursuant to Landlord of any repairs required to comply with Tenant’s obligationsArticle 25, all reduced to present value using a discount rate equal applicable to the unexpired term of this Lease; and
(iv) the worth at the time of award determined by the court having jurisdiction thereof, of the unpaid rent that had been earned at the time of termination of this Lease; and
(v) any other amounts, and court costs, necessary to compensate Landlord for all detriment proximately caused by Xxxxxx’s default. Unpaid installments of rent or other sums shall bear interest from the date due at the rate of a governmental security having a mutual closest to twelve percent (12%) per annum. In the then current expiration event Tenant shall have abandoned the Premises, Landlord shall have the option of the Term; less (iii1) the aggregate fair net rental value retaking possession of the Premises over and recovering from Tenant the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above amount specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein providedthis Article 16.2(a), or (c2) maintain proceeding under Article 16.2(b). As used in this paragraph, the term “the word at the time of award” is to be computed by discounting by the amount of the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus one percent (1%).
(b) Maintain Tenant’s right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises. In such event, Landlord shall be entitled to enforce all of Landlord’s right rights and remedies under this Lease, include Lease including the right to recover the Rent and other amounts payable hereunder rent as they become it becomes due hereunder.
(c) Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decisions of the state in which the Premises are located.
Appears in 1 contract
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such default or breach by Tenant, Landlord maymay at any time thereafter, in its sole discretion, with or without notice or demand and without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: (a) perform on breach:
A. Terminate Tenant’s behalf, right to possession of the Premises by any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)lawful means, in which event case this Sublease shall terminate and Tenant shall reimburse immediately surrender possession of the Premises to Landlord. In such event Landlord for shall be entitled to recover from Tenant all expenses reasonably damages incurred by Landlord in doing soby reason of Tenant’s default including, plus interest at but not limited to, the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum cost of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion recovering possession of the TermPremises; expenses of reletting, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration including necessary renovation and alteration of the TermPremises; less (iii) reasonable attorney fees; the aggregate fair net rental value worth of the Premises over time of award by the remaining portion court having jurisdiction thereof of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period amount by which the Premises would not unpaid rent and other charges and Adjustments called for herein for the balance of the term after the time of such award exceeds the amount of such loss for the same period that Tenant proves could be leased reasonably avoided; and therefore no income would be realized for such period) reduced that portion of any leasing commission paid by Landlord and applicable to present value the unexpired term of this Sublease. Unpaid installments of rent or other sums shall bear interest from the date due at the above specified discount maximum legal rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain or
B. Maintain Tenant’s right to possession, in which case this Lease Sublease shall continue in effect and whether or not Tenant shall have abandoned the Premises. In such event Landlord shall be entitled to enforce all of Landlord’s right rights and remedies under this LeaseSublease, include including the right to recover the Rent rent and any other amounts payable hereunder charges and Adjustments as they may become due hereunder; or
C. Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decisions of the State of Nevada.
Appears in 1 contract
Samples: Sub Lease (Bank Holdings)
REMEDIES IN DEFAULT. On No such default or breach shall relieve Tenant or Tenant's liabilities and obligations under this Lease whether or not the occurrence Premises shall be relet. In any such event Tenant shall pay Landlord the base and additional rent and all of other sums required to be paid by Tenant up to the Tenant Default and after time of such event. In the applicable notice and cure period, and subject to terms and conditions provided hereinevent of any default or breach by Tenant, Landlord maymay at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other right or remedy that which Landlord may have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: breach:
(a) perform on Terminate Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention 's right to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value possession of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s right to possessionany lawful means, in which case this Lease shall continue in effect terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such event Landlord shall be entitled to enforce recover from Tenant all damages it may incur by reason of Landlord’s right Tenant's default including, but not limited to, the cost of recovering possession of the Premises, expenses of reletting, including necessary renovation and remedies under alteration of the Premises, reasonable attorneys' fees, any real estate commission actually paid, the difference between the base rent and additional rent reserved in this Lease from the date of such default or breach to the date of the expiration of the term hereof as renewed and extended and the then fair and reasonable rental value of the Premises for the same period, and that portion of the leasing commission paid by Landlord and applicable to the unexpired term of this Lease, include all of which amount shall be immediately due and payable from Tenant to Landlord. Unpaid installments of rent or other sums shall bear interest from the right date due at the rate of twelve percent (12%) per annum.
(b) Landlord, as agent for Tenant, may immediately re-enter the Premises and take possession thereof and all permanent improvements thereon and remove or put out Tenant or any other persons who may be thereon by force, summary action or otherwise together with all personal property found therein and such property may be stored in a public warehouse or elsewhere at the cost of and for the account of Tenant, all without service or notice and make such alterations and repairs as may be necessary in order to recover relet the Rent Premises, and relet the Premises or any part thereof, or said Premises with additional Premises, for such term or terms (which may be greater or less than the period which would otherwise have constituted the balance of the term of this Lease) and at such rental or rentals and upon such other amounts payable terms and conditions as Landlord in its sole discretion may deem advisable; upon each such reletting all rentals received by Landlord from such reletting shall be applied, first to the payment of any indebtedness other than rent due hereunder from Tenant to Landlord, second, to the payment of any costs and expenses of such reletting, including brokerage fees and attorneys' fees and of costs of such alterations and repairs, third, to the payment of rent due and unpaid hereunder, and the residue, if any, shall be held by Landlord and applied in payment of future rent or damage as they the same may become due and payable hereunder. If such rentals received from such reletting during any month be less than that to be paid during that month by Tenant hereunder, Tenant shall pay any such deficiency to landlord, the same to be calculated and paid monthly. No such re-entry or taking possession of the Premises by Landlord shall be construed as an election of its part to terminate this Lease unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. If Tenant shall after default voluntarily give up possession to Landlord, deliver to Landlord the keys to the Premises, or both, such actions shall be deemed to be in compliance with Landlord's rights and the acceptance thereof by Landlord shall not be deemed to constitute a surrender of the leased Premises. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous breach. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedies it may have, it may recover from Tenant all damages it may incur by reason of Tenant's default, as provided in subparagraph (a) hereof. In case suit shall be brought for recovery of possession of the Premises, for the recovery of rent, damages or other amount due under the provisions of this Lease, or because of the breach of any other covenant herein contained on the part of Tenant to be kept or performed, and a breach shall be established, Tenant shall pay to Landlord all expenses incurred therefor, including reasonable attorneys' fees. Landlord shall not be obligated to notify Tenant of the due date of rent nor demand payment thereof on its due date, the same being expressly waived by Tenant. The acceptance of any sums of money from Tenant after the expiration of any three (3) day or thirty (30) day notice as above provided shall be taken to be a payment on account by Tenant and shall not constitute a waiver by Landlord or any rights, nor shall it reinstate the Lease or cure a default on the part of Tenant.
Appears in 1 contract
Samples: Office Building Lease (Vialog Corp)
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable any such default or breach by Tenant, Landlord may at any time thereafter, with or without notice and cure periodor demand, and subject to terms and conditions provided herein, Landlord may, without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: (a) perform on breach:
a. Terminate Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention 's right to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value possession of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s right to possessionany lawful means, in which case this Lease shall continue in effect terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such event Landlord shall be entitled to enforce recover from Tenant all damages incurred by Landlord by reason of Landlord’s right Tenant's default including, but not limited to, the cost of recovering possession of the Premises; expenses of reletting, including necessary renovation and remedies alteration of the Premises, reasonable attorneys' fees, any real estate commission actually paid; the worth at the time of award by the court having jurisdiction thereof of the amount by which the unpaid rent for the balance of the term after the time of such award exceeds the amount of such rental loss for the same period that Tenant proves could be reasonably avoided; that portion of the leasing commission paid by Landlord and applicable to the unexpired term of the Lease. Unpaid installments of rent or other sums shall bear interest from the date due at the rate of twenty percent (20%) per annum. In the event Tenant shall have abandoned the Premises, Landlord shall have the option of (a) taking possession of the Premises and recovering from Tenant the amount specified in this paragraph, or (b) proceeding under this Lease, include the right to recover provisions of the Rent and other amounts payable hereunder as they become due hereunderfollowing Article 24.
Appears in 1 contract
Samples: Office Building Lease (Colorado Business Bankshares Inc)
REMEDIES IN DEFAULT. On the occurrence of the Tenant a Licensee Default and after the applicable ap- plicable notice and cure period, and subject to terms and conditions provided herein, Landlord Licensor may, without limiting Landlord in the exercise of any other right or remedy that Landlord may have by reason or such default, the remedies of Landlord hereunder being cumulative as Licensor’s sole and not exclusive of one anotherremedies: (a) perform perform, on TenantLicensee’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Licensee Default (after giving Tenant Licensee written notice of LandlordLicensor’s intention to do so except in the case of emergency), in which event Tenant Licensee shall reimburse Landlord Licensor for all reasonable expenses reasonably incurred by Landlord Licensor in doing so, plus interest at the Default Rate, which expenses and interest shall will be additional rent Additional Fee and shall be payable by Tenant immediately on Licensee within thirty (30) days after written demand therefore therefor by LandlordLicensor; and/or (b) terminate this Lease License and collect liquidated damages from Tenant Licensee in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; , plus (ii) the aggregate rent Minimum Fee remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of Licensor for any repairs required to comply with Tenantand other costs of re-letting (such as broker’s obligationscommissions and the cost of adver- tising), all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual maturity closest to the then current expiration of the Term; , less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four eighteen (2418) months, may be considered as a leasing period by which the Premises would not be leased and therefore therefor no income would be realized for such period) reduced to present value at the above specified discount rate; value, plus (iv) LandlordLicensor’s costs and expenses incurred in the enforcement hereof including reasonable attorneys attorneys’ fees actually incurred as herein provided, or (c) maintain Tenant’s right to possession, in which case this Lease shall continue in effect and Landlord shall be entitled to enforce all of Landlord’s right and remedies under this Lease, include the right to recover the Rent and other amounts payable hereunder as they become due hereunder.
Appears in 1 contract
Samples: Atm License Agreement
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable any such default or breach by Tenant, Landlord may at any time thereafter, with or without notice and cure periodor demand, and subject to terms and conditions provided herein, Landlord may, without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: (a) perform on breach:
a. Terminate Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention 's right to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value possession of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased any lawful and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s right to possessionpeaceful means, in which case this Lease shall continue in effect terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such event Landlord shall be entitled to enforce recover from Tenant all damages incurred by Landlord by reason of Landlord’s right Tenant's default including, but not limited to, the cost of recovering possession of the Premises; expenses of reletting, including necessary and remedies reasonable expenses incurred in connection with renovation and alteration of the Premises, reasonable attorneys' fees, any real estate commission actually paid; the worth at the time of award by the court having jurisdiction thereof of the amount by which the unpaid rent for the balance of the term after the time of such award exceeds the amount of such rental loss for the same period that Tenant proves could be reasonably avoided; that portion of the leasing commission paid by Landlord and applicable to the unexpired term of the Lease. Unpaid installments of rent or other sums shall bear interest from the date due at the rate of twenty percent (20%) per annum. In the event Tenant shall have abandoned the Premises without payment of rent, Landlord shall have the option of (a) taking possession of the Premises and recovering from Tenant the amount specified in this paragraph, or (b) proceeding under this Lease, include the right to recover provisions of the Rent and other amounts payable hereunder as they become due hereunderfollowing Article 24.
Appears in 1 contract
Samples: Lease (Vstream Inc /Co)
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereindefault, Landlord maymay at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason or of such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: (a) perform on :
a. Terminate Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention 's right to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value possession of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s right to possessionany lawful means, in which case this Lease shall continue in effect terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such event, Landlord shall be entitled to enforce recover from Tenant (a) the worth at the time of the award of the unpaid rent which had been earned at the time of such termination; (b) the worth at the time of award of amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of such rent loss that Tenant proves could have been reasonably avoided; (c) the worth at the time of award of the amount by which the unpaid rent for the balance of the term of this Lease after the time of award exceeds the amount of such rent loss that Tenant proves could be reasonably avoided; and (d) any other amount necessary to compensate Landlord for all of Landlord’s right and remedies the detriment proximately caused by Tenant's failure to perform its obligations under this LeaseLease or which in the ordinary course of things would be likely to result therefrom. The "worth at the time of award" of the amounts referred to in clauses (a) and (b) above is computed by allowing interest at the rate of ten percent (10%) per annum, include or, if a higher rate is legally permissible, at the right highest rate legally permitted. The "worth at the time of award" of the amount referred to recover in clause (c) above is computed by discounting such amount at the Rent and other amounts payable hereunder as they become due hereunder.discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%). Damages recoverable by Landlord shall include, but not limited to, expenses of
Appears in 1 contract
REMEDIES IN DEFAULT. On In the occurrence of the Tenant Default and after the applicable notice and cure periodevent Lessee shall, and subject to terms and conditions provided herein, Landlord may, without limiting Landlord in the exercise of any other right or remedy that Landlord may have by reason or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: (a) perform on Tenant’s behalffail to make any rental or other payment due hereunder within ten (10) days after due date, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein providedadjudged bankrupt, or (c) maintain Tenant’s right make an assignment for the benefit of creditors, or (d) have Lessee's leasehold estate taken an execution against Lessee, or (e) abandon the Property during the term hereof or (f) breach or Fail to possessionperform any agreement herein other than the agreement to pay rent and shall Fail to cure such breach or perform such agreements within (3) three days after written notice From the Lessor, then the Lessor, in which case either such event, shall have the option to:
(1) Terminate this Lease, resume possession of the Property For Lessor's own account and recover immediately from the Lessee the difference between the rent provided for in this Lease and the fair value of the Property for the remainder of the Lease term, reduced to present worth, together with any other damages occasioned by or resulting from the abandonment or a breach or a monetary default or default other then a default in payment of rent.
(2) If Lessee defaults in performance of any obligations hereunder and such default is not corrected as provided in this Lease, Lessor may perform the obligation and the Lessee shall continue pay all costs and expenses of Lessor to perform Lessee's obligation. The remedies provided in effect this paragraph shall not be exclusive and Landlord in addition thereto the Lessor may pursue such other remedies as are provided by law in the event of any breach default or abandonment by Lessee. In any event and irrespective of any option exercised, Lessee agrees to pay and the Lessor shall be entitled to enforce recover all costs and expenses incurred by the Lessor Including reasonable attorney's Fees, in connection with collection of Landlord’s right rental or damages or enforcing other rights of the Lessor in the event of any breach or fault or abandonment by Lessee, Irrespective of whether or not Lessor elects to terminate this Lease by reason of such breach, default or abandonment. The Lessee hereby expressly waives any and remedies all rights of redemption, if any granted by or under any present or Future law in the event the Lessee shall be evicted or dispossessed for any cause, or, in the event the Lessor shall obtain possession of the premises by virtue of the provisions of this Lease, include the right to recover the Rent and other amounts payable hereunder as they become due hereunderLease or otherwise.
Appears in 1 contract
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such default or breach ------------------- by Tenant, Landlord may, SUBJECT TO APPLICABLE LAW, at any time thereafter, with ----------------------------- or without notice or demand and without limiting Landlord in the exercise of any other right or remedy that which Landlord may have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: breach:
(a) perform on Terminate Tenant’s behalf, 's right to possession of the Premises by any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)lawful means, in which event case this Lease shall terminate and Tenant shall reimburse immediately surrender possession of the Premises to Landlord. In such event Landlord for shall be entitled to recover from tenant all expenses reasonably damages incurred by Landlord in doing soby reason of Tenant's default, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to including but not limited to: (i) the sum cost of all amounts due hereunder to recovering possession of the date of terminationPremises; plus and (ii) the aggregate rent remaining over the unexpired portion expenses of reletting, including necessary renovation and alteration of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the TermPremises; less and (iii) reasonable attorney's fees, and any real estate commission actually paid applicable to the aggregate fair net rental value unexpired term of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased this Lease; and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s the worth at the time of award determined by the court having jurisdiction thereof, of the unpaid rent that had been earned at the time of termination of this Lease; and (v) any other amount, and court costs and expenses incurred necessary to compensate Landlord for all detriment proximately caused by Tenant's default. In the event Tenant shall have abandoned the Premises, Landlord shall have the option of (1) retaking possession of the Premises, taking possession of all personal property remaining in the enforcement hereof including reasonable attorneys fees as herein providedPremises and recovering from Tenant the amount specified in this Article 14.2(a) and 14.2(d), or (c2) maintain proceeding under Article 14.2(b). As used in this Paragraph, the term "the worth at the time of award" is to be computed by discounting the total rent payable by the amount of the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus one percent (1%).
(b) Maintain Tenant’s 's right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises. In such event, Landlord shall be entitled to enforce all of Landlord’s right 's rights and remedies under this Lease, include Lease including the right to recover the Rent and other amounts payable hereunder rent as they become it becomes due hereunder.
(c) Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decisions of the state in which the Premises are located.
(d) Any rent or other charge that is not paid when due shall bear interest from the date due until paid at the rate of sixteen (16%) per annum; provided, however, that in no event shall such rate to be charged Tenant exceed the rate otherwise permitted by law.
Appears in 1 contract
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such default or breach by Tenant, Landlord maymay at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other right or remedy that which Landlord may have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: breach:
(a) perform on Terminate Tenant’s behalf, 's right to possession of the Premises by any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)lawful means, in which event case this Lease shall terminate and Tenant shall reimburse immediately surrender possession of the Premises to Landlord. In such event Landlord for shall be entitled to recover from tenant all expenses reasonably damages incurred by Landlord in doing soby reason of Tenant's default, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to including but not limited to: (i) the sum cost of all amounts due hereunder to recovering possession of the date of terminationPremises; plus and (ii) the aggregate rent remaining over the unexpired portion expenses of reletting, including necessary renovation and alteration of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the TermPremises; less and (iii) reasonable attorney's fees, and any real estate commission actually paid applicable to the aggregate fair net rental value unexpired term of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased this Lease; and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s the worth at the time of award determined by the court having jurisdiction thereof, of the unpaid rent that had been earned at the time of termination of this Lease; and (v) any other amount, and court costs and expenses incurred necessary to compensate Landlord for all detriment proximately caused by Tenant's default. Unpaid installments of rent or other sums shall bear interest from the date due at the rate of sixteen percent (16%) per annum. In the event Tenant shall have abandoned the Premises, Landlord shall have the option of (1) retaking possession of the Premises, taking possession of all personal property remaining in the enforcement hereof including reasonable attorneys fees as herein providedPremises and recovering from Tenant the amount specified in this Article 14.2(a), or (c2) maintain proceeding under Article 14.2(b). As used in this Paragraph, the term "the worth at the time of award" is to be computed by discounting the total rent payable by the amount of the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus one percent (1%).
(b) Maintain Tenant’s 's right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises. In such event, Landlord shall be entitled to enforce all of Landlord’s right 's rights and remedies under this Lease, include Lease including the right to recover the Rent and other amounts payable hereunder rent as they become it becomes due hereunder.
(c) Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decisions of the state in which the Premises are located.
Appears in 1 contract
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such material default or breach by Tenant, Landlord maymay at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: breach:
(a) perform on Terminate Tenant’s behalf, 's right to possession of the Premises by any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)lawful means, in which case this Lease shall terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such event Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant's default including, but not limited to, the cost of recovering possession of the Premises; expenses of reletting, including necessary renovation and alteration of the Premises; reasonable attorney's fees and costs; any real estate commissions and costs actually paid; the worth at the time of award by the court having jurisdiction thereof of the amount by which the unpaid rent for the balance of the term after the time of such award exceeds the amount of such rental loss for the same period that Tenant proves could be reasonably avoided; that portion of the leasing commission paid by Landlord and applicable to the unexpired term of this Lease. Unpaid installments of rent or other sums shall bear interest from the date due at the rate of ten (10%) percent per annum. In the event Tenant shall reimburse have abandoned the Premises, Landlord for all expenses reasonably incurred by Landlord shall have the option of (a) taking possession of the Premises and recovering from Tenant the amount specified in doing sothis paragraph, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) proceeding under the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion provisions of the Term, plus the reasonable cost to Landlord of any repairs required to comply with following Article 26(b).
(b) Maintain Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s 's right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises. In such event Landlord shall be entitled to enforce all of Landlord’s right 's rights and remedies under this Lease, include including the right to recover the Rent and other amounts payable hereunder rent as they become it becomes due hereunder.
(c) Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decision of the State in which the Premises are located.
Appears in 1 contract
REMEDIES IN DEFAULT. On A. Upon the occurrence of an Event of Default, Landlord may elect to continue this Lease in full force and effect and not terminate Tenant's right to possession of the Premises, in which event Landlord shall have the right to enforce any rights and remedies granted by this Lease or bylaw against Tenant, including, without limitation, the right to collect when due, rental and other sums payable hereunder. Landlord shall not be deemed to have elected to terminate this Lease unless Landlord gives Tenant Default written notice of such election to terminate, and in no event shall Landlord's act of maintenance or preservation of the Premises, efforts to relet the Premises, or obtaining the appointment of a receiver to protect the interest of Landlord under this Lease be deemed to constitute such termination.
B. Landlord may elect by written notice to Tenant to terminate this Lease at any time after the applicable notice and cure periodoccurrence of any Event of Default, and subject in such event Landlord may, at Landlord's option, declare this Lease and Tenant's right to terms possession terminated, Landlord may then re-enter the Premises, remove all persons and conditions provided hereinproperty therefrom by summary proceedings or other lawful means, store such property for Tenant's account, at Tenant's expense, and recover damages from Tenant as hereinafter provided. In the event Landlord elects to so terminate this Lease and Tenant's right to possession, or the same are terminated by operation of law, such termination shall cancel any option theretofore agreed to by Landlord for Tenant to extend the Term hereof.
C. In the event Landlord elects to terminate this Lease and Tenant's right to possession in accordance with Paragraph 21.B, or the same are terminated by operation of law, Landlord may recover as damages from Tenant the following:
(1) The worth at the time of award of the unpaid rental and other sums due hereunder which had been earned at the time of termination of this Lease; and
(2) The worth at the time of award of the amount by which the unpaid rental and other sums clue hereunder which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of such loss of rental and other sums due that Tenant proves could have been reasonably avoided; and
(3) The worth at the time of the award of the amount by which the unpaid rental and other sums due hereunder for the balance of the Term after the time of award exceed the amount of the loss of such rental and other sums due hereunder for the balance of the Term after the time of award that Tenant proves could be reasonably avoided; and
(4) Any other amount (including but not limited to the cost of recovering possession of the Premises, expense of reletting, including necessary renovation and alteration of the Premises, attorneys' fees, court costs and real estate commissions actually paid) necessary to compensate Landlord for all detriment proximately caused by Tenant's act of default or which in the ordinary course of things would be likely to result therefrom.
D. The "worth at the time of award" of the amounts referred to in clauses (i), (ii) and (iv) of Paragraph 21.C above shall be computed by allowing interest at a rate equal to the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%), but not less than ten percent (10%) per annum. The "worth at the time of award" of the amount referred to in clause (iii) of Paragraph 21.C above shall be computed by discounting such amount at ten percent (10%) per annum.
E. Efforts by Landlord to mitigate the damages caused by Tenant's breach of this Lease shall not waive Landlord's right to recover damages under the foregoing provisions.
F. Upon the occurrence of any Event of Default specified in Paragraph 20, Landlord may, at its option, with or without limiting Landlord notice of xxxx xxxxxxxx xxx xxxh or without entry or action by Landlord, forthwith terminate this Lease, and notwithstanding any other provisions of this Lease, Landlord, in addition to any and all rights and remedies provided for in this Lease or allowed by law or equity, shall upon such termination be entitled to recover damages in the exercise of any other right or remedy that Landlord may have by reason or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: (a) perform on Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion then present value of the Term, plus rent reserved in this Lease for the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration entire residue of the Term; stated term hereof, less (iii) the aggregate fair net rental value of the Premises over for the remaining portion residue of the Term (providedstated term hereof, however, a reasonable period and neither Tenant nor any person claiming through or under Tenant Or by virtue of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, any mature or (c) maintain Tenant’s right to possession, in which case this Lease shall continue in effect and Landlord order of any court shall be entitled to enforce possession of the Premises but shall forthwith quit and surrender the Premises to Landlord. Nothing herein contained shall limit or prejudice the right of Landlord to prove and obtain as liquidated damages by reason of any such termination an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to, or less than the amount of damages recoverable under the provisions of this Paragraph 21.F.
G. Nothing in this Paragraph 21 shall affect the right of Landlord to indemnification for liability arising prior to the termination of this Lease for personal injuries, property damage, or acts or omissions of Tenant, its officers, employees, agents, contractors or invitees as provided elsewhere in this Lease.
H. The foregoing remedies of Landlord shall not be exclusive, but shall be cumulative and in addition to all of Landlord’s right rights and remedies under this Lease, include the right to recover the Rent and other amounts payable hereunder as they become due hereundernow or hereafter provided or allowed by law.
Appears in 1 contract
REMEDIES IN DEFAULT. On In the occurrence event of the any such default or breach by Tenant Default and which continues uncured after the expiration of any applicable notice and cure grace period, Landlord may at any time thereafter, with notice or demand (which notice requirement may be satisfied by the provision of notice of default from Landlord to Tenant as set forth in Section 23, above, but only if such notice includes a statement notifying Tenant that failure to cure such default within the applicable grace period will result the exercise of one of Landlord's remedies in default as set forth below), and subject to terms and conditions provided herein, Landlord may, without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such default or breach:
a. Terminate Tenant's right to possession of the Premises by any lawful and peaceful means, in which case this Lease shall terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such defaultevent Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant's default including, but not limited to, the remedies cost of Landlord hereunder being cumulative recovering possession of the Premises; expenses of reletting, including necessary and not exclusive reasonable expenses incurred in connection with renovation and alteration of one another: the Premises, reasonable attorneys' fees, any real estate commission actually paid (which shall be limited to (a) perform on Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice the real estate commission due under the remaining term of Landlord’s intention to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses Lease and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate real estate commission due in connection with reletting the Premises, provided, however, that Tenant shall only be responsible for item (a) until such time as the Premises are re-let and thereafter shall be responsible for item (b) for the time which would have encompassed the remaining term of this Lease and collect liquidated damages from Tenant Lease, if it had remained in an amount equal to (i) effect); the sum worth at the time of all amounts due hereunder to award by the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion court having jurisdiction thereof of the Termamount by which the unpaid Rent for the balance of the term after the time of such award exceeds the amount of such rental loss for the same period that Tenant proves could be reasonably avoided, plus with the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced resulting figure discounted to present value using a the Discount Rate provided in the following sentence (and defined therein). For any sums discounted to present value pursuant to the preceding sentence, it is agreed that the discount rate equal to used shall be the average of three (3) rates of interest given on high-balance savings accounts, as the same existed on the date of award by the court, which rates shall be determined by Landlord selecting three (3) national or regional banks operating within Boulder County and taking the average of those three (3) rates. The resultant rate shall be known as the Discount Rate for purposes of this Lease. Unpaid installments of rent or other sums shall bear interest from the date due at the rate of a governmental security having a mutual closest to twenty percent (20%) per annum. In the then current expiration event Tenant shall have abandoned the Premises without payment of rent, Landlord shall have the Term; less option of (iiia) the aggregate fair net rental value taking possession of the Premises over and recovering from Tenant the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above amount specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein providedthis Section, or (cb) maintain proceeding under the provisions of the following Section 24.b.
b. Maintain Tenant’s 's right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises. In such event, Landlord shall be entitled to enforce all of Landlord’s right 's rights and remedies under this Lease, include including the right to recover the Rent and other amounts payable hereunder rent as they become it becomes due hereunder.
c. Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decision of the State in which the Premises are located. Despite any other provision of this Lease to the contrary, Landlord shall have an obligation to mitigate Landlord's damages.
Appears in 1 contract
Samples: Lease (New Frontier Media Inc)
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure periodany such material default or breach by Tenant, Landlord may at any time thereafter, with or without notice, demand, and subject to terms and conditions provided herein, Landlord may, without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: breach:
(a) perform on Terminate Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention 's right to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value possession of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s right to possessionany lawful means, in which case this Lease shall continue in effect terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such event, Landlord shall be entitled to enforce recover from Tenant all damages incurred by Landlord by reason of Tenant's default including, but not limited to, the cost of recovering possession of the Premises (expenses of relating, including necessary renovation and alteration of the Premises, reasonable attorney's fees, any real estate commission actually paid); the worth at the time of award by the court having jurisdiction thereof of the amount by which the unpaid rent for the balance of the term after the time of such award exceeds the amount of such rental loss for the same period that Tenant proves could be reasonably avoided; that portion of the leasing commission paid by Landlord and applicable to the unexpired term of this Lease. Unpaid installments of rent or other sums shall bear interest from the date due at the rate of ten (10%) percent per annum. In the event Tenant shall have abandoned the Premises, Landlord shall have the option of (a) taking possession of the Premises and recovering from Tenant the amount specified is this paragraph, or (b) proceeding under the provisions of the following Article 26(b).
(b) Landlord can continue this Lease in full force and effect, and the Lease will continue in effect as long as Landlord does not terminate Tenant's right to possession, and Landlord shall have the right to collect rent when due. During the period Tenant is in default, Landlord can enter the Premises and relet them, or any part of them, to third parties for Tenant's account. Tenant shall be liable immediately to Landlord for all costs Landlord incurs in reletting the Premises, including, without limitation, brokers' commissions, expenses of remodeling the Premises required by the reletting, and like costs. Reletting can be for a period shorter or longer than the remaining term of this Lease. Tenant shall pay to Landlord the rent due under this Lease on the dates the rent is due, less the rent the Landlord receives from any reletting. No act by Landlord allowed by this paragraph shall terminate this Lease unless Landlord notifies Tenant that Landlord elects to terminate this Lease. After Tenant's default and for as long as Landlord does not terminate Tenant's right to possession of the Premises, if Tenant obtains Landlord’s 's consent, Tenant shall have the right and remedies under to assign or sublet its interest in this Lease, include but Tenant shall not be released from liability. Landlord's consent to a proposed assignment or subletting shall not be unreasonably withheld. Unpaid installments of rent or other sums shall bear interest from the right date due at the rate of ten (10%) percent per annum.
(c) Pursue any other remedy now or hereafter available to recover Landlord under the Rent and other amounts payable hereunder as they become due hereunderlaws or judicial decision of the state in which the Premises are located.
Appears in 1 contract
Samples: Office Building Lease (Sycamore Park Convalescent Hospital)
REMEDIES IN DEFAULT. On In the occurrence of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided herein, Landlord may, without limiting Landlord in the exercise event of any other right or remedy that Landlord may have by reason or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: (a) perform on Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in shall have the case of emergency)following remedies, in which event addition to any other remedies available at law or in equity:
a. The Landlord may institute suit to collect sums due or otherwise enforce the obligations of the Lease;
b. The Landlord may re-enter and take possession of the Premises without terminating the Lease. In such event, the Tenant shall reimburse Landlord remain liable for all expenses reasonably incurred rent due under the Lease, including that accruing after the date of re-entry. The Landlord may elect to accelerate the remaining balance of rent due under the Lease and declare all such rent immediately due and payable. The Landlord may relet the Premises on such terms as the Landlord deems proper in his sole discretion, and such reletting shall not terminate the Lease or relieve the Tenant of the obligations thereunder.
c. The Landlord may terminate the Lease, and re-enter and take possession of the Premises. In the event of such termination, the Landlord shall send Tenant a second notice, terminating the Lease on a date certain, by certified mail return receipt requested to the Tenant. In such event, Landlord in doing somay xxx Tenant for damages for breach of the Lease, plus interest at the Default Rate, which expenses and interest such damages shall be additional deemed to be the equivalent of the rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this other sums due under the Lease and collect liquidated damages from Tenant in an amount equal to (i) Agreement for the sum of all amounts due hereunder to entire term thereof, including those accruing after the date of termination; plus (ii) . The Landlord may relet the aggregate rent remaining over Premises on such terms as the unexpired portion Landlord deems proper in his sole discretion, and such reletting shall not relieve the Tenant of the Term, plus the reasonable cost to obligations thereunder.
d. Landlord of any repairs required to comply with Tenant’s obligations, shall have all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s right to possession, in which case this Lease shall continue in effect and Landlord shall be entitled to enforce all of Landlord’s right rights and remedies under this Lease, include provided by law for the right to recover the Rent recovery of rent and other amounts payable hereunder as they become due hereunderpossession.
Appears in 1 contract
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such default or breach by Tenant, Landlord maymay at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other right or remedy that which Landlord may have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: breach:
(a) perform on Terminate Tenant’s behalf, 's right to possession of the Premises by any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)lawful means, in which event case this Lease shall terminate and Tenant shall reimburse immediately surrender possession of the Premises to Landlord. In such event Landlord for shall be entitled to recover from tenant all expenses reasonably damages incurred by Landlord in doing soby reason of Tenant's default, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to including but not limited to: (i) the sum cost of all amounts due hereunder to recovering possession of the date of terminationPremises; plus and (ii) the aggregate rent remaining over the unexpired portion expenses of reletting, including necessary renovation and alteration of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the TermPremises; less and (iii) reasonable attorney's fees, and any real estate commission actually paid applicable to the aggregate fair net rental value unexpired term of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased this Lease; and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s the worth at the time of award determined by the court having jurisdiction thereof, of the unpaid rent that had been earned at the time of termination of this Lease; and (v) any other amount, and court costs and expenses incurred necessary to compensate Landlord for all detriment proximately caused by Tenant's default. Unpaid installments of rent or other sums shall bear interest from the date due at the rate of TWELVE PERCENT (12%) per annum. In the event Tenant shall have abandoned the Premises, Landlord shall have the option of (1) retaking possession of the Premises, taking possession of all personal property remaining in the enforcement hereof including reasonable attorneys fees as herein providedPremises and recovering from Tenant the amount specified in this Article 14.2(a), or (c2) maintain proceeding under Article 14.2(b). As used in this Paragraph, the term "the worth at the time of award" is to be computed by discounting the total rent payable by the amount of the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus one percent (1%).
(b) Maintain Tenant’s 's right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises. In such event, Landlord shall be entitled to enforce all of Landlord’s right 's rights and remedies under this Lease, include Lease including the right to recover the Rent and other amounts payable hereunder rent as they become it becomes due hereunder.
(c) Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decisions of the state in which the Premises are located.
Appears in 1 contract
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such default or breach by Tenant, Landlord maymay at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other right or remedy that which Landlord may have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: breach.
(a) perform on Terminate Tenant’s behalf, 's right to possession of the Premises by any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)lawful means, in which case this Lease shall terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such event Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant's default including, but not limited to, the cost of recovering possession of the Premises; expenses of reletting, including necessary renovation and alteration of the Premises, reasonable attorney's fees, and any real estate commission actually paid; the worth at the time of award by the court having jurisdiction thereof of the amount by which the unpaid rent for the balance of the term after the time of such award exceeds the amount of such rental loss for the same period that Tenant proves could be reasonably avoided; and that portion of the leasing commission paid by Landlord applicable to the unexpired term of this Lease. Unpaid installments of rent or other sums shall bear interest from the date due at the rate of ten (10%) percent per annum. In the event Tenant shall reimburse have abandoned the Premises, Landlord for all expenses reasonably incurred by Landlord shall have the option of (i) retaking possession of the Premises and recovering from Tenant the amount specified in doing sothis Article 14.2(a), plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or or (ii) proceeding under Article 14.2(b).
(b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Maintain Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s 's right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises, in such event, Landlord shall be entitled to enforce all of Landlord’s right 's rights and remedies under this Lease, include including the right to recover the Rent and other amounts payable hereunder rent as they become it becomes due hereunder.
(c) Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decisions of the state in which the Premises are located.
Appears in 1 contract
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such default or breach by Tenant, Landlord maymay at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: breach:
(a) perform on Terminate Terminate Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention 's right to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion possession of the Term, plus the reasonable cost to Landlord of Lease. Leased Premises by any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s right to possessionlawful means, in which case this Lease shall terminate and Tenant shall immediately surrender possession of the Leased Premises to Landlord. In such event Landlord shall be entitled to recover from the Tenant all past due rents to the date of award by the court having jurisdiction thereof; the expenses of reletting the Leased Premises, including necessary renovation and alteration of the Leased Premises and reasonable attorneys' fees; the worth at the time of award by the court having jurisdiction thereof of the amount by which the unpaid rent called for herein for the balance of the Term after the time of such award exceeds the amount of such loss for the same period that Tenant proves could be reasonably avoided; and that portion of any leasing commission paid by Landlord and applicable to the unexpired Term of this Lease. Unpaid installments of rent or other sums shall bear interest from the date due at the rate provided in Subsection 4.3; or
(b) Continue the Maintain Tenant's right to possession, in which Lease. case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Leased Premises. In such event Landlord shall be entitled to enforce all of Landlord’s right 's rights and remedies under this Lease, include including the right to recover the Monthly Base Rent and other amounts payable hereunder additional rent as they may become due hereunder.hereunder but Landlord shall also be required to mitigate its damages by seeking to re-let the Leased Premises; or
Appears in 1 contract
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant any Event of Default and after the applicable or other breach by Tenant, Landlord may at any time thereafter, with or without notice and cure periodor demand, and subject to terms and conditions provided herein, Landlord may, without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such Event of Default or such defaultbreach:
a. Reenter and take possession of the Premises or any part thereof and repossess the same as of Landlord’s former estate and expel Tenant and those claiming through or under Tenant and remove the effects of both or either, without being deemed guilty of any manner of trespass and without prejudice to any remedies for arrears of Rent or preceding breach of covenants or conditions. Should Landlord elect to reenter, as provided in this paragraph, or should Landlord take possession pursuant to legal proceedings or pursuant to any notice provided for by law, Landlord may, from time-to-time, without terminating this Lease, relet the remedies Premises or any part thereof, either alone or in conjunction with other portions of Landlord hereunder being cumulative and not exclusive the Building of one another: (a) perform on which the Premises are a part, in Landlord’s or Tenant’s behalfname but 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 of this Lease) and on such conditions and upon such other terms (which may include concessions of free Rent and alteration and repair of the Premises) as Landlord, in its absolute discretion, may determine and Landlord may collect and receive the Rents therefor. Landlord shall in no way be responsible or liable for any unperformed covenant failure to relet the Premises, or obligation hereunder constituting any part thereof, or for any failure to collect any Rent due upon such Tenant Default (after giving Tenant reletting, but Landlord shall use commercially reasonable efforts to mitigate its damages. No such reentry or taking possession of the Premises by Landlord shall be construed as an election on Landlord’s part to terminate this Lease unless a written notice of Landlord’s such intention be given to do Tenant. No notice from Landlord hereunder or under a forcible entry and detainer statute or similar law shall constitute an election by Landlord to terminate this Lease unless such notice specifically so except in states. Landlord reserves the case of emergency)right following any such reentry and/or reletting to exercise its right to terminate this Lease by giving Tenant such written notice, in which event the Lease will terminate as specified in said notice.
b. If Landlord elects to take possession of the Premises as provided in Paragraph 23a above without terminating the Lease, Tenant shall reimburse pay to Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due Rent and other sums as herein provided, which would be payable hereunder to the date of termination; plus if such repossession had not occurred, less (ii) the aggregate rent remaining over the unexpired portion of the Termnet proceeds, plus the reasonable cost to Landlord if any, of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value reletting of the Premises over the remaining portion after deducting all of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s expenses incurred in connection with such reletting, including, but without limitation, all repossession costs, brokerage commissions, legal expenses, attorneys’ fees, expenses of employees, alteration, remodeling, and repair costs and expenses of preparation for such reletting. Unpaid installments of rent or other sums shall bear interest from the date due at the rate of twenty percent (20%) per annum. If, in connection with any reletting, the new lease term extends beyond the existing term or the premises covered thereby include other premises not part of the Premises, a fair apportionment of the Rent received from such reletting and the expenses incurred in connection therewith, as provided aforesaid, will be made in determining the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s right to possessionnet proceeds received from such reletting. In addition, in determining the net proceeds from such reletting, any Rent concessions will be apportioned over the term of the new lease unless Tenant agrees otherwise. Tenant shall pay such amounts to Landlord monthly on the days on which case this Lease shall continue in effect the Rent and all other amounts owing hereunder would have been payable if possession had not been retaken and Landlord shall be entitled to enforce receive the same from Tenant on each such day;
c. Give Tenant written notice of intention to terminate this Lease on the date of such given notice or on any later date specified therein and, on the date specified in such notice, Tenant’s right to possession of the Premises shall cease and the Lease shall thereupon be terminated, except as to Tenant’s liability hereunder as hereinafter provided, as if the expiration of the term fixed in such notice were the end of the term herein originally demised. In the event this Lease is terminated pursuant to the provisions of this Paragraph, Tenant shall remain liable to Landlord for damages in an amount equal to the Rent and other sums which would have been owing by Tenant hereunder for the balance of the term had this Lease not been terminated less the net proceeds, if any, of any reletting of the Premises by Landlord subsequent to such termination, after deducting all of Landlord’s right and remedies under this Leaseexpenses in connection with such reletting, include including, but without limitation, the right expenses enumerated above. Landlord shall be entitled to recover collect such damages from Tenant monthly on the days on which the Rent and other amounts would have been payable hereunder if this Lease had not been terminated and Landlord shall be entitled to receive the same from Tenant on each such day. Alternatively, at the option of Landlord, in the event this Lease is terminated, Landlord shall be entitled to recover forthwith against Tenant as they become due hereunderdamages for loss of the bargain and not as a penalty an amount equal to the worth at the time of termination of the excess, if any, discounted to present value, of the amount of Rent reserved in this Lease for the balance of the term hereof over the then Reasonable Rental Value of the Premises for the same period plus all amounts incurred by Landlord in order to obtain possession of the Premises and relet the same, including attorneys’ fees, reletting expenses, alterations and repair costs, brokerage commissions and all other like amounts. It is agreed that the “Reasonable Rental Value” shall be the amount of rental which Landlord can obtain as Rent for the remaining balance of the term. Landlord agrees to use commercially reasonable efforts to mitigate its damages; or
d. Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decision of the State of Colorado.
Appears in 1 contract
REMEDIES IN DEFAULT. On Upon a default, Landlord shall have the occurrence of following remedies, in addition to all other rights and remedies provided by law in equity or otherwise provided in this Lease, to which Landlord may resort cumulatively or in the Tenant Default alternative: (i) Landlord may continue this Lease in full force and after the applicable notice and cure periodeffect, and subject this Lease shall continue in full force and effect as long as Landlord does not terminate this Lease, and Landlord shall have the right to terms and conditions provided herein, collect rental when due; (ii) Landlord may, with or without limiting terminating this Lease, re-enter the Premises and remove all persons and property from the Premises, such property may be removed and stored in a public warehouse or elsewhere at the cost of and for the account of Tenant. No re-entry or taking possession of the Premises by Landlord in the exercise pursuant to this paragraph shall be construed as an election to terminate this Lease unless a written notice of any other right or remedy that such intention is given to Tenant; (iii) Landlord may terminate Tenant’s right to possession of the Premises at any time by giving written notice to that effect, and relet the premises or any part thereof. Tenant shall be liable immediately to Landlord for all costs Landlord incurs in reletting the Premises or any part thereof, including, without limitation, brokers’ commissions, expenses of cleaning, redecorating, and further improving the Premises and like costs. Reletting may be for a period shorter or longer than the remaining term of this Lease. No act by Landlord other than giving written notice to Tenant shall terminate this Lease. Acts of maintenance, efforts to relet the Premises or the appointment of a receiver on Landlord’s initiative to protect Landlord’s interest under this Lease shall not constitute a termination of Tenant’s right to possession. Upon termination, Landlord shall have by reason or such default, the remedies right to remove all of Landlord hereunder being cumulative Tenant’s personal property and not exclusive of one anotherstore same at Tenant’s cost and to recover from Tenant as damages: (a) perform on Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest worth at the Default Rate, time of award of any unpaid rental and other sums due and payable which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) had been earned at the sum of all amounts due hereunder to the date time of termination; plus (b) the worth at the time of award of the amount by which the unpaid rental and other sums which would have been payable after termination until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus (c) the worth at the time of award of the amount by which the unpaid rental and other sums due for the balance of the term after the time of award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided; plus (d) any other amounts to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform Tenant’s obligations under this Lease, or which, in the ordinary course of things, would be likely to result therefrom, including, without limitation, any costs or expenses incurred by Landlord; (i) in retaking possession of the Premises; (ii) in maintaining, repairing, preserving, restoring, replacing, cleaning, altering or rehabilitating the aggregate rent remaining over Premises or any portion thereof, including such acts for reletting to a new tenant or tenants; (iii) for leasing commissions; or (iv) for any other costs necessary or appropriate to relet the unexpired portion Premises; plus (e) at Landlord’s election, such other amounts and remedies in addition to or in lieu of the Termforegoing as may be permitted from time to time by the laws of the State of California. The “worth at the time of award” of the amounts referred to in subparagraphs 19(a) and 19(b) above is computed by allowing interest at the interest rate specified below on the unpaid rental and other sums due and payable from the termination date through the date of award. The “worth at the time of award” of the amount referred to in subparagraph 19(c) is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%). Tenant waives redemption or relief from forfeiture under California Code of Civil Procedure Sections 1174 and 1179, plus or under any other present or future law, in the reasonable cost to event Tenant is evicted or Landlord takes possession of the Premises by reason of any repairs required default of Tenant hereunder. The interest rate under the Lease shall mean the greater of ten percent (10%) per annum or five percent (5%) in excess of the discount rates of the Federal Reserve Bank of San Francisco in effect on the twenty-fifth (25th) day of the calendar month immediately prior to comply with Tenant’s obligations, all reduced to present value using a discount rate equal the event giving rise to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s right to possession, in which case this Lease shall continue in effect and Landlord shall be entitled to enforce all of Landlord’s right and remedies under this Lease, include the right to recover the Rent and other amounts payable hereunder as they become due hereunderimposition.
Appears in 1 contract
REMEDIES IN DEFAULT. On 19.1 In the occurrence event of the Tenant any Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinby Tenant, Landlord may, at any time without waiving or limiting Landlord in the exercise of any other right or remedy, do any one or more of the following: (i) re-enter and take possession of the Premises, (ii) pursue any remedy allowed by law or equity, and/or (iii) terminate this Lease.
19.2 Whether Landlord has elected to terminate this Lease or not, Tenant agrees to pay Landlord the reasonable cost of recovering possession of the Premises, the reasonable expenses of reletting, and any other reasonable costs or damages arising out of Tenant's Default, including without limitation the reasonable costs of removing persons and property from the Premises, the reasonable costs of preparing or altering the Premises for reletting, broker's commissions, and attorneys' fees; provided that Landlord may have diligently pursues reletting the Premises.
19.3 No re-entry or taking possession of the Premises by reason Landlord pursuant to this Section 19, or such default, acceptance of Tenant's keys to or surrender of the remedies of Landlord hereunder being cumulative and not exclusive of one another: (a) perform on Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant Premises shall be construed as an election to terminate this Lease unless a written notice of Landlord’s such intention is given to do so except in Tenant.
19.4 Notwithstanding any reentry or termination, the case liability of emergency), in which event Tenant for the Rent shall reimburse Landlord continue for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion balance of the Term, plus the reasonable cost and Tenant shall make good to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using deficiency arising from reletting the Premises at a discount rate equal lesser rent than the Rent provided for in this Lease. Tenant shall pay such deficiency each month as the amount thereof is ascertained by Landlord.
19.5 Notwithstanding anything to the interest rate of a governmental security having a mutual closest contrary herein, both Landlord and Tenant shall have the obligation to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a take reasonable period of time, not steps to exceed twenty four (24) months, may be considered as a leasing period mitigate their damages caused by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s right to possession, in which case this Lease shall continue in effect and Landlord shall be entitled to enforce all of Landlord’s right and remedies any default under this Lease, include the right to recover the Rent and other amounts payable hereunder as they become due hereunder.
Appears in 1 contract
REMEDIES IN DEFAULT. On If Landlord considers that Last Chance is in default as provided in Section 9.1, other than a default in the occurrence payment of Rent which shall be governed by Section 9.1(B), Landlord shall notify Last Chance thereof in writing, setting out specifically in what respects it is claimed that Last Chance has breached this Lease. The receipt of such notice by Last Chance and the Tenant Default lapse of thirty (30) days thereafter without Last Chance's (i) curing such alleged breach, (ii) commencing and after diligently pursuing such action which is necessary to cure the applicable notice and cure periodalleged breach, and subject to terms and conditions provided hereinor (iii) commencing an action in a court of competent jurisdiction contesting such alleged breach, shall be a default hereunder. In the event of any such default by Last Chance, Landlord may, without limiting Landlord in the exercise of at any other right or remedy that time thereafter, Landlord may have exercise any one or more of the following remedies:
(A) Terminate Last Chance's right to possession of the Premises by reason or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: (a) perform on Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)lawful means, in which event Tenant case this Lease shall reimburse terminate, and Last Chance shall immediately surrender possession of the Premises to Landlord. In such event, Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or entitle to recover from Last Chance twenty-five Thousand Dollars (b$25,000.00) terminate this Lease and collect in liquidated damages from Tenant in an amount equal to by reason of the Last Chance's default. In the event Last Chance shall have abandoned the Premises, Landlord shall have the option of (i) retaking possession of the sum of all amounts due hereunder to Premises and recovering from Last Chance the date of termination; plus amount specified in Section 9.2(A), or (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less proceeding under Section 9.2(B) and/or 9.2(C).
(iiiB) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s Maintain Last Chance's right to possession, in which case this Lease shall continue in effect and whether or not Last Chance shall have abandoned the Premises. In such event, Landlord shall be entitled to enforce all of Landlord’s right 's rights and remedies under this Lease, include including the right to recover the Rent and as it becomes due hereunder subject to reasonable mitigation efforts of the Landlord.
(C) Pursue any other amounts payable hereunder as they become due hereunderremedy now or hereafter available to Landlord under the laws or judicial decisions of the State of Nevada.
Appears in 1 contract
Samples: Casino Lease (Sands Regent)
REMEDIES IN DEFAULT. On Upon the occurrence of the a Tenant Default and after the applicable notice and cure periodDefault, and subject to terms and conditions provided herein, Landlord may, without limiting Landlord in the exercise of any other right or remedy that Landlord may have by reason or such default, the remedies of Landlord hereunder being cumulative as Xxxxxxxx’s sole and not exclusive of one anotherremedies: (a) perform per- form, on Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default De- fault (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all reasonable expenses reasonably incurred by Landlord Land- lord in doing so, plus interest at the Default Rate, which expenses and interest shall will be additional rent and shall be payable by Tenant immediately on within thirty (30) days after written demand therefore therefor by LandlordXxxxxxxx; and/or (b) terminate ter- minate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; , plus (ii) the aggregate monthly rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of for any repairs required to comply with Tenantand other costs of re- letting (such as broker’s obligationscommissions and the cost of advertising), all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual maturity closest to the then current expiration of the Term; , less (iii) the aggregate fair net rental value of the Premises over the remaining remain- ing portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four eight- een (2418) months, may be considered as a leasing period by which the Premises would not be leased and therefore therefor no income would be realized for such period) reduced to present value at the above specified discount rate; value, plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys attorneys’ fees actually incurred as herein provided. LANDLORD HEREBY WAIVES ANY AND ALL OTHER RIGHTS AND REME- DIES TO WHICH LANDLORD MAY BE ENTITLED, or (c) maintain Tenant’s right to possessionAT LAW OR IN EQUITY, in which case this Lease shall continue in effect and Landlord shall be entitled to enforce all of Landlord’s right and remedies under this Lease, include the right to recover the Rent and other amounts payable hereunder as they become due hereunderINCLUDING ANY RIGHT OF RE-ENTRY WITHOUT TERMINATING THIS LEASE AND ANY LOCK-OUT REMEDIES AVAILABLE UNDER APPLICABLE LAW.
Appears in 1 contract
Samples: Lease Agreement
REMEDIES IN DEFAULT. On In the occurrence event of the any default or breach of this Lease by Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided herein(whether or not set forth in Section 23.1 above), Landlord maymay at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: breach:
(a) perform on Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in Terminate the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Lease. Terminate Tenant’s right to possessionpossession of the Leased Premises by any lawful means, in which case this Lease Tenant shall continue in effect and immediately surrender possession of the Leased Premises to Landlord. In such event, Landlord shall be entitled to enforce recover from the Tenant all past due Rent, Additional Rent and Other Charges and all other amounts owed under the terms of Landlord’s right and remedies under this Lease; the expense of re-leasing the Leased Premises, include including but not limited to the right expense of renovating and alterations to recover the Leased Premises and any leasing commissions; reasonable attorneys’ fees and costs; the worth at the time of award by the court having jurisdiction thereof of the amount by which the unpaid Rent and Additional Rent called for herein for the balance of the Lease Term after the time of such award exceeds the amount of such loss for the same period that Tenant proves could be reasonably avoided (the “worth at the time of award” shall be determined by discounting such excess amount by the discount rate of the Federal Reserve Bank of San Francisco plus one percent (1%)); and any and all other amounts payable hereunder as they become due hereunder.damages arising from Tenant’s default or breach; or,
Appears in 1 contract
Samples: Office Lease (Smartsheet Inc)
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such default or breach by Xxxxxx, Landlord maymay at any time thereafter, in his sole discretion, with or without notice or demand and without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such default or such default, breach:
A. Terminate Xxxxxx’s right to possession of the remedies of Landlord hereunder being cumulative and not exclusive of one another: (a) perform on Tenant’s behalf, Premises by any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)lawful means, in which event case this Lease shall terminate and Tenant shall reimburse immediately surrender possession of the Premises to Landlord. In such event Landlord for shall be entitled to recover from Tenant all expenses reasonably damages incurred by Landlord in doing soby reason of Tenant’s default including, plus interest but not limited to, the cost of recovering possession of the Premises; expenses of reletting, including necessary renovation and alteration of the Premises; reasonable attorney’s fees; the worth at the Default Rate, which expenses and interest shall be additional rent and shall be payable time of award by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion court having jurisdiction thereof of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period amount by which the Premises would not unpaid rent and other charges and Adjustments called for herein for the balance of the term after the time of such award exceeds the amount of such loss for the same period that Xxxxxx proves could be leased reasonably avoided; and therefore no income would be realized for such period) reduced that portion of any leasing commission paid by Landlord and applicable to present value the unexpired term of this Lease. Unpaid installments of rent or other sums shall bear interest from the date due at the above specified discount maximum legal rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain or
B. Maintain Tenant’s right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises. In such event Landlord shall be entitled to enforce all of Landlord’s right rights and remedies under this Lease, include including the right to recover the Rent rent and any other amounts payable hereunder charges and Adjustments as they may become due hereunder.; or
Appears in 1 contract
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such default or breach by Tenant, Landlord maymay at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: breach:
(a) perform on Terminate Tenant’s behalf, 's right to possession of the Premises by any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)lawful means, in which event case this Lease shall terminate and Tenant shall reimburse immediately surrender possession of the Premises to Landlord. In such event Landlord for shall be entitled to recover from Tenant all expenses reasonably damages incurred by Landlord in doing soby reason of Tenant's default including, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to without limitation: (i) the sum cost of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion recovering possession of the TermPremises; (11) expenses of reletting, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration including necessary renovation and alteration of the TermPremises; less (iii) the aggregate fair net worth at the time of award by the court having jurisdiction thereof of the amount by which the unpaid rent for the balance of the term after the time of such award exceeds the amount of such rental value loss for the same period that Tenant proves could be reasonably avoided; (iv) that portion of any leasing commission paid by Landlord and applicable to the unexpired term of this Lease; and (v) any other amounts allowed by law. Unpaid installments of rent or other sums shall bear interest from the date due at the maximum rate allowed by law from time to time. In the event Tenant shall have abandoned the Premises, Landlord shall have the option of (1) taking possession of the Premises over and recovering from Tenant the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above amount specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein providedthis paragraph, or (c2) maintain proceeding under the following provisions of this Section ID.
(b) Maintain Tenant’s 's right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises. In such event Landlord shall be entitled to enforce all of Landlord’s right 's fights and remedies under this Lease, include including the right to recover the Rent rent as it becomes due or to relet the Premises or any part thereof for such term and on such provisions as Landlord, in its sole discretion, may deem advisable.
(c) Re-enter the Premises, with or without terminating this Lease, and remove all property and persons therefrom, which property may be stored at a public warehouse or elsewhere at Tenant's cost.
(d) After ten (10) days' notice to Tenant, or a shorter period if additional damage may result, cure the default for the account and at the expense of Tenant, which amount shall be due from Tenant to Landlord immediately upon demand.
(e) Pursue any other amounts payable hereunder as they become due hereunderremedy now or hereafter available to Landlord under the laws of the State of California.
Appears in 1 contract
REMEDIES IN DEFAULT. On (a) In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such default or breach by Tenant, Landlord mayshall have the right at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other right or remedy that which Landlord may otherwise have by reason of such default or such defaultbreach, to terminate this Lease at its option or to re-enter and at its option to attempt to re-let without terminating this Lease and remove ad persons and property from the Premises, using any force as may reasonably be necessary to accomplish said purposes, all without service of notice or resort to legal process and without being deemed guilty of trespass or forcible entry or becoming liable for any loss or damage which may be occasioned thereby.
(b) If Tenant shall fail to remove any effects which it is entitled to remove from the Premises upon the termination of this Lease, or any extension or renewal hereof, or upon a re-entry by Landlord for any cause whatsoever, or upon Tenant's ceasing to possess the Premises for any reason, the remedies Landlord, at its option, may remove the same and store or dispose of the said effects without liability for loss or damage thereto, and Tenant agrees to pay to Landlord on demand any and all expenses incurred in such removal, including Court costs, attorneys' fees, storage and insurance charges on such effects for any length of time the same shall be in Landlord's possession; or the Landlord, at its option, without notice, may sell such effects, or any of them, at private or public sale and without legal process, for such price or consideration as the Landlord may obtain, and apply the proceeds of such sale upon any amounts due under this Lease from the Tenant to the Landlord, and upon the expenses incidental to the removing, cleaning the Premises, selling said effects, and any other expense, rendering the surplus, if any, to the Tenant; provided, however, in the event the proceeds of such sale or sales are insufficient to reimburse the Landlord, Tenant shall pay such deficiency upon demand. Tenant acknowledges and agrees that any such disposition of Tenant's property in the above-described manner by the Landlord shall be deemed to be commercially reasonable and that no bailment shall be created by Landlord's exercise of any of its rights under this subparagraph (b).
(c) Should Landlord elect to re-enter, as herein provided, or should it take possession pursuant to legal proceedings, or pursuant to any notice provided for by law, it may make such alterations, additions, improvements and repairs as may be necessary in order to re-let the Premises, and may but need not re-let the Premises or any part thereof for such term or terms (which may be for a term extending beyond the term of this Lease) and at such rental or rentals and upon such other terms and conditions as Landlord may determine to be advisable; upon each such re-letting all rentals received by the Landlord; shall be applied i) first to the payment of any costs and expenses of such re-letting, including brokerage fees and attorney's fees and the cost of such alterations, additions, improvements and repairs; ii) second, to the payment of Base Rent due and unpaid hereunder, and the residue, if any, shall be held by Landlord and applied in payment of future rent as the same may become due and payable hereunder being cumulative provided that Tenant shall have no tight to claim any interest in all or any portion of said residue and if the rent and other charges paid or to be paid to Landlord by any new tenant pursuant to any re-letting exceed the monetary obligations of Tenant, Tenant shall have no right to claim any interest in ad or any portion of said excess. If such rental received from such re- letting during any month be less than that to be paid during the month by Tenant hereunder, Tenant shall pay any such deficiency to Landlord, and such deficiency shall be calculated and paid monthly on the date on which the rent would have been payable hereunder if possession had not exclusive been retaken. If, during the existing term of one another: (a) perform this Lease, the premises covered thereby include other premises not part of the Premises, a fair apportionment of the rent received from such re-letting and the expenses incurred in connection therewith as provided aforesaid will be made in determining the net proceeds from such re-letting and the expenses incurred in connection therewith as provided aforesaid will be made in determining the net proceeds from such re-letting, and any rent concessions will be equally apportioned over the term of the new lease. Landlord shall in no event be liable in any way whatsoever for failure to re-let the Premises for any reason, or in the event the Premises are re-let, for failure to collect the rent thereof under such re-letting. No such reentry or taking possession of the Premises by Landlord, nor any acts pursuant thereto, shall be construed as an election on Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant its part to terminate this Lease unless a written notice of such termination be given to Tenant by Landlord’s intention to do so except in the case of emergency), in which event Tenant . No notice from Landlord under this Lease or under any applicable forcible entry and detainer or eviction statue or similar law shall reimburse Landlord for all expenses reasonably incurred constitute an election by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) to terminate this Lease unless such notice specifically so states. Notwithstanding any such re-letting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous breach.
(d) Should Landlord at any time terminate this Lease for any default or breach, in addition to any other remedies it may have, it may recover from Tenant all damages it may incur by reason of such default or breach, including the cost of recovering the Premises and collect reasonable attorneys' fees. If such termination is caused by the failure to pay rent and/or the abandonment of any substantial portion of the premises, Landlord may elect, by sending written notice thereof to Tenant, to receive liquidated damages from Tenant in an amount equal to twelve times the security deposit as set forth in section 1.16 hereunder. Notwithstanding the preceding, nothing shall prevent the Landlord from proving damages in excess of the amount referred to above; and
(ie) Each of the sum remedies set forth hereinabove in this Section 17 shall not be exclusive, but rather shall be considered cumulative with any other legal or equitable remedy now or hereafter available to Landlord under the laws or judicial decisions of all amounts due hereunder the state in which the Premises are located. To the extent such waiver is permitted by law, the parties waive trial by jury in any action or proceeding brought in connection with this Lease. Suit or suits for the recovery of the amount of damages set forth hereinabove may be brought by Landlord, from time to time, at Landlord's election, and nothing herein shall be deemed to require Landlord to await the date whereon this Lease or the term hereof would have expired had there been no event of termination; plus (ii) default. Nothing contained in this Lease shall limit or prejudice the aggregate rent remaining over the unexpired portion right of the TermLandlord to prove and obtain as liquidated damages in any bankruptcy, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligationsinsolvency, all reduced to present value using a discount rate receivership, reorganization or dissolution proceeding an amount equal to the interest rate maximum allowed by any statue or rule of a governmental security having a mutual closest law governing such proceeding and in effect at the time when such damages are to be proved, whether or not such amount be greater, equal to or less than the then current expiration amounts recoverable, either as damages or rent, referred to in any of the Term; less (iii) the aggregate fair net rental value preceding provisions of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s right to possession, in which case this Lease shall continue in effect and Landlord shall be entitled to enforce all of Landlord’s right and remedies under this Lease, include the right to recover the Rent and other amounts payable hereunder as they become due hereunderSection.
Appears in 1 contract
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such default or breach by Tenant, Landlord maymay at any time thereafter, in his sole discretion, with or without notice or demand and without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such default or such default, breach;
23.A. Terminate Tenant's right to possession of the remedies of Landlord hereunder being cumulative and not exclusive of one another: (a) perform on Tenant’s behalf, Premises by any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)lawful means, in which event case this Lease shall terminate and Tenant shall reimburse immediately surrender possession of the Premises to Landlord. In such event Landlord for shall be entitled to recover from Tenant all expenses reasonably damages incurred by Landlord in doing soby reason of Tenant's default including, plus interest but not limited to, the cost of recovering possession of the Premises; expenses of reletting, including necessary renovation and alteration of the Premises; reasonable attorney's fees; the worth at the Default Rate, which expenses and interest shall be additional rent and shall be payable time of award by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion Court having jurisdiction thereof of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period amount by which the Premises would not unpaid rent and other charges and Adjustments called for herein for the balance of the term after the time of such award exceeds the amount of such loss for the same period that Tenant proves could be leased reasonably avoided; and therefore no income would be realized for such period) reduced that portion of any leasing commission paid by Landlord and applicable to present value the unexpired term of this Lease. Unpaid installments of rent or other sums shall bear interest from the date due at the above specified discount maximum legal rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain or
23.B. Maintain Tenant’s 's right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises. In such event Landlord shall be entitled to enforce all of Landlord’s right 's rights and remedies under this Lease, include including the right to recover the Rent rent and any other amounts payable hereunder charges and Adjustments as they may become due hereunder; or
23.C. Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decisions of the State in which the Premises are located.
Appears in 1 contract
REMEDIES IN DEFAULT. On In the occurrence event of any such uncured default, LANDLORD may, in accordance with procedures required by law, pursue one or more of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided herein, Landlord may, without limiting Landlord in the exercise of any other right or remedy that Landlord may have by reason or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: following remedies:
(a) perform on Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) LANDLORD may terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain TenantTENANT’s right to possessionpossession of the PREMISES by any lawful means, in which case this Lease LEASE shall terminate and TENANT shall surrender possession of the PREMISES to LANDLORD within thirty (30) days after written notice from LANDLORD to TENANT. In such event, LANDLORD shall be entitled to recover from TENANT all damages incurred by LANDLORD by reason of TENANT’s default including, but not limited to, reasonable attorneys’ fees, the cost of recovering possession of the PREMISES, expenses of re-letting, including necessary renovation and alteration of the PREMISES for uses similar to TENANT’s uses, and the RENT as it becomes due hereunder. If LANDLORD relets the PREMISES, then any rent or other concessions given to the new TENANT shall be prorated evenly throughout the entire TERM of the new lease; or
(b) LANDLORD may maintain TENANT’s right to possession in which case this LEASE shall continue in effect and Landlord whether or not TENANT shall have abandoned the PREMISES. In such event, LANDLORD shall be entitled to enforce all of LandlordLANDLORD’s right rights and remedies under this Lease, include LEASE including the right to recover the Rent RENT and other amounts payable hereunder charges as they become due hereunder; or
(c) With or without judicial process, enter the PREMISES and take possession of any and all goods, inventory, equipment, fixtures and all other personal property of TENANT, which is or may be put into the PREMISES during the TERM, whether exempt or not from sale under execution or attachment (it being agreed that said PROPERTY shall at all times be bound with a lien in favor of LANDLORD and shall be chargeable for all RENTAL and for the fulfillment of the other covenants and agreements herein contained), and LANDLORD may sell all or any part thereof at public or private sale. TENANT agrees that five (5) days prior notice of any public or private sale shall constitute reasonable notice. The proceeds of any such sale shall be applied, first, to the payment of all costs and expenses of conducting the sale or caring for or storing said PROPERTY (including reasonable attorneys’ fees); second, toward the payment of any indebtedness, including (without limitation) indebtedness for RENT, which may be or may become due from TENANT to LANDLORD; and third, to pay TENANT, on demand, any surplus remaining after all indebtedness of TENANT to LANDLORD has been fully paid; or
(d) Perform, on behalf and at the expense of TENANT, any obligation of TENANT under this LEASE which TENANT has failed to perform and of which LANDLORD shall have given TENANT notice, the cost of which performance by LANDLORD, together with interest thereon at the DEFAULT RATE from the date of such expenditure, shall be deemed ADDITIONAL RENT and shall be payable by TENANT to LANDLORD upon demand. Notwithstanding the provisions of this clause and regardless of whether an Event of Default shall have occurred, LANDLORD may exercise the remedy described in this clause without any notice to TENANT if LANDLORD, in its good faith judgment, believes it would be materially injured by failure to take rapid action or if the unperformed obligation of TENANT constitutes an emergency.
Appears in 1 contract
Samples: Interlocal Agreement (Lease)
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such default or breach by Tenant, Landlord maymay at any time thereafter, in his sole discretion, with or without notice or demand and without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such default or such default, breach: 23A. Terminate Tenant's right to possession of the remedies of Landlord hereunder being cumulative and not exclusive of one another: (a) perform on Tenant’s behalf, Premises by any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)lawful means, in which event case this Lease shall terminate and Tenant shall reimburse immediately surrender possession of the Premises to Landlord. In such event Landlord for shall be entitled to recover from Tenant all expenses reasonably damages incurred by Landlord in doing soby reason of Tenant's default including, plus interest but not limited to, the cost of recovering possession of the Premises; expenses of reletting, including necessary renovation and alteration of the Premises; reasonable attorney's fees; the worth at the Default Rate, which expenses and interest shall be additional rent and shall be payable time of award by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion court having jurisdiction thereof of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period amount by which the Premises would not unpaid rent and other charges and Adjustments called for herein for the balance of the term after the time of such award exceeds the amount of such loss for the same period that Tenant proves could be leased reasonably avoided; and therefore no income would be realized for such period) reduced that portion of any leasing commission paid by Landlord and applicable to present value the unexpired term of this Lease. Unpaid installments of rent or other sums shall bear interest from the date due at the above specified discount maximum legal rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain 23B. Maintain Tenant’s 's right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises. In such event Landlord shall be entitled to enforce all of Landlord’s right 's rights and remedies under this Lease, include including the right to recover the Rent rent and any other amounts payable hereunder charges and Adjustments as they may become due hereunder; or 23C. Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decisions of the State in which the Premises are located.
Appears in 1 contract
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default any such material default or breach by Lessee, Lessor may at any time thereafter, with or without notice or demand and after the applicable notice and cure period, and subject to terms and conditions provided herein, Landlord may, without limiting Landlord Lessor in the exercise of any other right or remedy that Landlord which Lessor may have by reason of such default or breach:
24.a. Terminate Lessee's right to possession of the Premises by any lawful means, in which case this Lease shall terminate and Lessee shall immediately surrender possession of the Premises to Lessor. In such defaultevent Lessor shall be entitled to recover from Lessee all damages incurred by necessary renovation and alteration of the Premises, reasonable attorney's fees, any real estate commission actually paid; the remedies worth at the time of Landlord hereunder being cumulative award by the court having jurisdiction thereof of the amount by which the unpaid rent for the balance of the term after the time of such award exceeds the amount of such rental loss for the same period that Lessee proves could be reasonably avoided; that portion of the leasing commission paid by Lessor and not exclusive applicable to the unexpired term of one another: this Lease. Unpaid installments of rent or other sums shall bear interest from the date due at the rate of ten (10%) percent per annum. In the event Lessee shall have abandoned the Premises, Lessor shall have the option of (a) perform on Tenant’s behalftaking possession of the Premises and recovering from Lessee the amount specified in this paragraph, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) proceeding under the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion provisions of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s following Article 25.b.
24.b. Maintain Lessee's right to possession, in which case this Lease shall continue in effect and Landlord whether or not Lessee shall have abandoned the Premises. In such event Lessor shall be entitled to enforce all of Landlord’s Lessor's right and remedies under this Lease, include including the right to recover the Rent and other amounts payable hereunder rent as they become it becomes due hereunder.
24.c. Pursue any other remedy now or hereafter available to Lessor under the laws or judicial decision of the State in which the Premises are located.
Appears in 1 contract
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default any material default or breach by Tenant, at any time thereafter, with or without notice or demand and after the applicable notice and cure period, and subject to terms and conditions provided herein, Landlord may, without limiting Landlord in the exercise of any other right Landlord's rights or remedy that remedies:
24.a. Landlord may have by reason or such defaultelect to re-enter, the remedies of Landlord hereunder being cumulative and not exclusive of one another: (a) perform on Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or take possession of the Premises pursuant to legal proceedings or pursuant to any notice provided for by law. In re-entering the Premises, Landlord may either terminate this Lease or, from time to time, without terminating this Lease, make such alterations and repairs as may be necessary in order to relet the Premises and relet the Premises or any part thereof for such ter (cwhich may be for a term extending beyond the term of this Lease) maintain Tenant’s right to possessionand at such rental and upon such other terms and conditions as Landlord, in its sole discretion, may deem advisable. Upon each such reletting shall be applied, first, to the payment of any indebtedness other than rent due hereunder from Tenant to Landlord; second, to the payment of rent due and unpaid hereunder and the residue, if any, shall be held by Landlord and applied in payment of future rent as the same may become due and payable hereunder. If rentals received from such reletting during any month be less than the rent to be paid that month by Tenant thereunder, Landlord shall calculate such deficiency, which case this Lease shall continue be paid that month by Tenant thereunder, Landlord shall calculate such deficiency, which shall be paid by Tenant monthly or at such greater intervals as Lender may see fit; or Landlord may institute action for the whole of such deficiency immediately upon affecting any letting or reletting and shall not thereafter be precluded from further like action in effect and the event such letting or reletting shall nor embrace the whole unexpired portion of the term hereof. No such re-entry or taking possession of the Premises by Landlord shall be entitled construed as an election on its part to enforce terminate this Lease unless a written notice of such intention is given to Tenant, or unless the termination thereof is decreed by a court of competent jurisdiction. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease for any such previous breach. Should Landlord at any time thereafter elect to terminate this Lease for any breach, in addition to any other remedies it may have, it may recover from Tenant all damages it may incur by reason of such breach, including the cost of recovering the leased Premises, reasonable attorney fees, and the worth at the time of such termination of the excess, if any, of the amount rent and charges equivalent to rent reserved in this Lease for the remainder of the stated term over the then reasonable rent value of the leased Premises for the remainder of the stated term, all of which amounts shall be immediately due and payable from Tenant.
24.b. Landlord or a receiver or trustee may take possession of the leased Premises at the instance of Landlord in any action against Tenant or otherwise. The Landlord’s right , receiver or trustee may collect the rents and remedies under profits from the Premises and all property of Tenant placed on the Premises may be taken, possessed and used by Landlord or receiver or trustee, as the case may be, without compensation to Tenant, and may be let with the Premises upon any reletting provided for in this Lease, include and may be taken, possessed and used by the substitute tenant in the conduct of the substitute tenant's business, without compensation to the Tenant and without constituting and eviction of Tenant from the leased Premises or any part thereof. Said right of taking, using and letting shall apply to any of said property which may be subject to a lease or to a conditional sales contract, lease contract, reserved or security title, chattel mortgage or other security document, instrument, or agreement to secure the balance of the purchase prices thereof or other obligation of Tenant. The Landlord, receiver or trustee, as the case may be, shall be subrogated to all rights of Tenant in the Premises and shall have the right to recover make such payments as may be required to prevent repossession or foreclosure or the Rent exercise of any remedy by the obligees under any such lease or security document, instrument or agreement; and the amount so paid, with interest therein, shall be added to the sum due from Tenant to Landlord.
24.c. Each of the foregoing remedies may be exercised jointly or severally with any of the remedies provided by this Lease or by law, as the option of the Landlord, receiver or trustee.
24.d. Tenant agrees to hold Landlord free and harmless from any claim of any character by any person arising out of or in any way connected with the entry and the taking possession of the Premises and/or said personal property by the Landlord, receiver or trustee, as the case may be.
24.e. Tenant expressly waives any and all rights of redemption granted by or under any present or future laws in the event of Tenant being evicted or dispossessed for any cause, or in the event of Landlord obtaining possession of the leased Premises by reason of the violation by Tenant of any of the covenants or conditions of this Lease or otherwise.
24.f. The rights and remedies herein set forth and granted to Landlord shall be cumulated and in addition to any and all other amounts payable hereunder rights and remedies provided and given to Landlord under the laws of the state where the Premises are located. The use of any one or more of the rights and remedies here enumerated, as they become due otherwise provided for hereunder, shall not constitute an election of remedies; nor, in such event, shall Landlord be barred or estopped from using or asserting any other or different pr concurrent or cumulative right or remedy at the same or any other different time or place.
Appears in 1 contract
Samples: Lease Agreement (Whole Living Inc)
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such material default or breach by Tenant, Landlord maymay at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: (a) perform on breach:
a. Terminate Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention 's right to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion possession of the Term, plus the reasonable cost to Landlord of premises by any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s right to possessionlawful means, in which case this Lease shall continue in effect terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such event, Landlord shall be entitled to enforce recover from Tenant all damages incurred by Landlord by reason of Landlord’s right Tenant's default including, but not limited to, the cost of recovering possession of the Premises; expenses of reletting, including necessary renovation and remedies under alteration of the Premises, reasonable attorney's fees, any real estate commission actually paid, the worth at the time of award by the court having jurisdiction thereof of the amount by which the unpaid rent for the balance of the term after the time of such award exceeds the amount of such rental loss for the same period that Tenant proves could be reasonably avoided; that portion of the leasing commission paid by Landlord and applicable to the unexpired term of this Lease. Unpaid installments of rent or other sums shall bear interest from the date due at the rate of ten (10%) per cent per annum. In the event Tenant shall have abandoned the Premises, include Landlord shall have the right to recover option of (a) taking possession of the Rent Premises and other amounts payable hereunder as they become due hereunderrecovering from Tenant the amount specified in this paragraph, or (b) proceeding under the provisions of the following Article 24.
Appears in 1 contract
Samples: Office Building Lease (Qt 5 Inc)
REMEDIES IN DEFAULT. On Upon the occurrence of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany Event of Default, Landlord maymay at any time thereafter, with or without limiting Landlord in the notice or demand, Without limitation on Landlord's exercise of any other right or remedy that Landlord may have by reason of such Event of Default, and in addition to any other right or such default, the remedies of remedy Landlord hereunder being cumulative and not exclusive of one another: may have at law or in equity:
(a) perform Terminate this Lease and recover damages as provided by Section 1951.2 of the California Civil Code, including, but not limited to, recovery of the worth at the time of award of the amount by which the unpaid Rent for the balance of the Term after the time of award exceeds the amount of rental loss for the same period that Tenant proves could have been reasonably avoided, as computed pursuant to subsection (b) of Section 1951.2;
(b) Continue this Lease in effect and enforce all of Landlord's rights and remedies under this. Lease, as provided by Section 1951.4 of the California Civil Code, including, without limitation, the right to recover Rent as it becomes due, for so long as Landlord does not terminate Tenant's right to possession; acts of maintenance or preservation by Landlord, efforts by Landlord to relet or sublet the Premises, or the appointment of a receiver upon Landlord's initiative to protect its interest under this Lease shall not constitute a termination of Tenant's right to possession;
(c) Sublet all or any part of the Premises for such term or terms (which may extend beyond the Term), at such rent and on such other terms as Landlord in its sole discretion may deem advisable, with the right to make alterations and repairs to the Premises, all as attorney-in-fact for Tenant pursuant to Subsection 24(f);
(d) Enter the Premises and remove therefrom all persons and property, store such property in a public warehouse or elsewhere at the cost of and for the account of Tenant’s behalf, and sell such property and apply the proceeds therefrom pursuant to applicable California law, all as attorney-in-fact for Tenant pursuant to Subsection 24(f); and
(e) Take all steps necessary or appropriate to have a receiver appointed for Tenant to take possession of the Premises, to apply any unperformed covenant or obligation hereunder constituting such rental collected from the Premises and to exercise all other rights and remedies granted to Landlord as attorney-in-fact for Tenant Default pursuant to Subsection 24(f). Additionally, Landlord shall have the following rights, powers, and remedies:
(after giving f) For all purposes set forth in Subsections 24(c) through 24(e), Tenant in evocably appoints and constitutes Landlord as attorney-in-fact for Tenant, with power of substitution. No taking possession of the Premises by Landlord, as attorney-in-fact for Tenant, shall be construed as an election on Landlord's part to terminate this Lease unless a written notice of Landlord’s intention such election is given to do so except in Tenant. Notwithstanding any subletting by Landlord without termination under Subsection 24(c.), Landlord may at any time thereafter elect to terminate this Lease for any previous Event of Default.
(g) In the case of emergency)any Event of Default in the payment of Rent, in which event Tenant Landlord shall reimburse Landlord for receive interest on all expenses reasonably incurred by Landlord in doing so, plus interest unpaid Rent at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount a rate equal to the lesser of (i) the sum rate of all amounts due hereunder to interest publicly announced by Bank of America NT&SA in San Francisco, California, as its "reference rate" (or any successor interest rate), plus five percent (5%), which rate on unpaid Rent shall be adjusted as of the effective date of termination; plus any change in such reference (or successor) rate, or (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount highest rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period permitted by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s right to possession, in which case this Lease shall continue in effect and Landlord shall be entitled to enforce all of Landlord’s right and remedies under this Lease, include the right to recover the Rent and other amounts payable hereunder as they become due hereunderlaw.
Appears in 1 contract
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such material default or breach by Tenant, Landlord maymay at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such default or breach:
a. Terminate Tenant’s right to possession of the Premises by any lawful means, in which case this Lease shall terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such defaultevent Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant’s default including, but not limited to, the remedies cost of recovering possession of the Premises; expenses of reletting, including necessary renovation and alteration of the Premises, reasonable attorney’s fees, any real estate commission actually paid; the worth at the time of award by the court having jurisdiction thereof of the amount by which the unpaid rent for the balance of the term after the time of such award exceeds the amount of such rental loss for the same period that Tenant proves could be reasonably avoided; that portion of the leasing commission paid by Landlord hereunder being cumulative and not exclusive applicable to the unexpired term of one another: this Lease. Unpaid installments of rent or other sums shall bear interest from the date due at the rate of eighteen (18%) per cent per annum. In the event Tenant shall have abandoned the Premises, Landlord shall have the option of (a) perform on Tenant’s behalftaking possession of the Premises and recovering from Tenant the amount specified in this paragraph, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) proceeding under the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion provisions of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, following Article 23.b. or (c) maintain c.
b. Maintain Tenant’s right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises. In such event Landlord shall be entitled to enforce all of Landlord’s right rights and remedies under this Lease, include including the right to recover the Rent and other amounts payable hereunder rent as they become it becomes due hereunder.
c. Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decision of the State in which the Premises are located. Landlord shall have no security interest or lien on any item of Tenant’s property. Landlord waives any right of Landlord’s lien that may arise at law.
Appears in 1 contract
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such default or breach by Tenant, Landlord maymay at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other right or remedy that which Landlord may have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: (a) perform on breach:
15.2.1. Terminate Tenant’s behalf, right to possession of the Premises by any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)lawful means, in which case this Lease will terminate and Tenant will immediately surrender possession of the Premises to Landlord. In such event Landlord will be entitled to recover from Tenant shall reimburse Landlord for all expenses reasonably damages incurred by Landlord in doing soby reason of Tenant’s default, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to including but not limited to:
(i) the sum out-of-pocket cost of all amounts due hereunder to recovering possession of the date of terminationPremises; plus and
(ii) reasonable expenses of reletting the aggregate rent remaining over Premises, including necessary renovation and alteration of the unexpired Premises; and
(iii) reasonable attorneys’ fees, any real estate commission actually paid, and that portion of the leasing commission, if any, paid by Landlord with respect to this Lease, applicable to the unexpired Term; and
(iv) all unpaid rent due at the time of award by the court having jurisdiction thereof, plus interest as provided below; plus the worth at the time of the award of all unpaid rent and other charges required herein for the balance of the Term after the time of such award, except to the extent that Tenant proves such amount can reasonably be avoided by reletting the Premises; and
(v) if Landlord has financed any Tenant Improvements and the cost of such improvements is being amortized over a period of time during the Term, plus Landlord may accelerate and declare the reasonable cost to Landlord entire unreimbursed balance of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to financed Tenant improvement costs immediately due and payable. Unpaid installments of rent or other sums will bear interest from the interest date due at the rate of a governmental security having a mutual closest to seven percent (7%) per annum (or the then current expiration maximum legal rate if lesser and applicable). In the event Tenant will have abandoned the Premises, Landlord will have the option of the Term; less (iii1) the aggregate fair net rental value retaking possession of the Premises over and recovering from Tenant the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above amount specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein providedthis Section 15.2.1, or (c2) maintain proceeding under Section 15.2.2. As used in this paragraph, “the worth at the time of award” is to be computed by discounting by the amount of the discount rate of seven percent (7%).
15.2.2. Maintain Tenant’s right to possession, in which case this Lease shall will continue in effect and whether or not Tenant will have abandoned the Premises. In such event, Landlord shall will be entitled to enforce all of Landlord’s right rights and remedies under this Lease, include Lease including the right to recover the Rent and other amounts payable hereunder rent as they become it becomes due hereunder.
15.2.3. Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decisions of the state in which the Premises are located.
Appears in 1 contract
Samples: Stock Purchase Agreement (Covenant Transportation Group Inc)
REMEDIES IN DEFAULT. On 14.2.1. In the occurrence event of the Tenant Default and after the applicable notice and cure perioda default by Tenant, and subject Landlord, in addition to terms and conditions provided hereinany other remedies available to it at law or in equity, Landlord mayincluding injunction, at its option, without limiting Landlord in the exercise further notice or demand of any kind to Tenant or any other right or remedy that Landlord may have by reason or such defaultperson, the remedies of Landlord hereunder being cumulative and not exclusive of one anothermay: (a) perform on Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (bi) terminate this Lease and collect liquidated damages Tenant's right to possession of the Premises and recover possession of the Premises and remove all persons therefrom; (ii) have the remedies described in California Civil Code Section 1951.4 (Landlord may continue the Lease in effect after Tenant's breach and abandonment and recover Rent as it becomes due, if Tenant has the right to sublet or assign, subject only to reasonable limitations); or (iii) even though it may have re-entered the Premises, thereafter elect to terminate this Lease and all of the rights of Tenant in or to the Premises.
14.2.2. Tenant's right to possession shall not be deemed to have been terminated by efforts of Landlord to relet the Premises, by its acts of maintenance or preservation with respect to the Premises, including its entry upon the Premises, appointment of a receiver to protect Landlord's interests hereunder, or by any action, in unlawful detainer or otherwise to obtain possession of the Premises, unless Landlord shall have notified Tenant in writing that Landlord has so elected to terminate this Lease. Tenant covenants that the service by Landlord of any notice pursuant to the unlawful detainer statutes of the State of California and the surrender of possession pursuant to such notice shall not be deemed to be a termination of this Lease. In the event of any entry or taking possession of the Premises as aforesaid, Landlord shall have the right, but not the obligation, to: (i) remove therefrom all or any part of the personal property located therein and place the same in storage at the expense and risk of Tenant and/or (ii) erect a barricade and partition the Premises at the expense of Tenant.
14.2.3. Should Landlord elect to terminate this Lease pursuant to the provisions of Section 14.2.1(i) or 14.2.1(iii) above, Landlord may recover from Tenant in an amount equal to as damages, the following: (i) the sum worth at the time of all amounts due hereunder to the date award of any unpaid rent and other charges which had been earned at the time of the termination; plus (ii) the aggregate rent remaining over worth at the unexpired portion time of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration award of the Termamount by which the unpaid rent and other charges which would have been earned after termination until the time of the award exceeds the amount of the loss of such rent and other charges that Tenant proves could have been reasonably avoided; less plus (iii) the aggregate fair net rental value worth at the time of the Premises over the remaining portion award of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period amount by which the Premises would not be leased unpaid rent and therefore no income would be realized other charges for the balance of the Lease Term after the time of the award exceeds the amount of the loss of such period) reduced to present value at the above specified discount raterent and other charges that Tenant proves could have been reasonably avoided; plus (iv) Landlord’s costs and expenses incurred any other amount necessary to compensate Landlord for all of the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or which in the enforcement hereof including reasonable attorneys fees as herein provided, or (cordinary course of things would be likely to result therefrom. Tenant hereby waives any and all rights conferred by Section 3275 of the Civil Code of California and by Sections 1174(c) maintain Tenant’s and 1179 of the Code of Civil Procedure of California and any and all other laws and rules of law from time to time in effect during the term of this Lease providing that Tenant shall have any right to possessionredeem, in which case reinstate or restore this Lease shall continue following its termination by reason of Tenant's breach.
14.2.4. As used in effect Section 14.2.3(i) and Landlord 14.2.3(ii) above, the "worth at the time of the award" shall be entitled to enforce all computed by allowing interest at the interest rate specified in Article 20. As used in Section 14.2.3(iii) above, the "worth at the time of Landlord’s right and remedies under this Leasethe award" shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award, include the right to recover the Rent and other amounts payable hereunder as they become due hereunderplus one percent (1%).
Appears in 1 contract
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such default or breach by Tenant, Landlord maymay at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other right or remedy that which Landlord may have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: breach:
(a) perform on Terminate Tenant’s behalf, 's right to possession of the Premises by any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)lawful means, in which case this Lease shall terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such event Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant's default including, but not limited to, the cost of recovering possession of the Premises; expenses of reletting, including necessary renovation and alteration of the Premises, reasonable attorney's fees, and any real estate commission actually paid; the worth at the time of award by the court having jurisdiction thereof of the amount by which the unpaid rent for the balance of the term after the time of such award exceeds the amount of such rental loss for the same period that Tenant proves could be reasonably avoided; and that portion of the leasing commission paid by Landlord applicable to the unexpired term of this Lease. Unpaid installments of rent or other sums shall bear interest from the date due at the rate of ten (10%) percent per annum. In the event Tenant shall reimburse have abandoned the Premises, Landlord for all expenses reasonably incurred by Landlord shall have the option of (i) retaking possession of the Premises and recovering from Tenant the amount specified in doing sothis Article 14.2(a), plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or or (ii) proceeding under Article 14.2(b).
(b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Maintain Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s 's right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises. In such event. Landlord shall be entitled to enforce all of Landlord’s right 's rights and remedies under this Lease, include including the right to recover the Rent and other amounts payable hereunder rent as they become it becomes due hereunder.
(c) Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decisions of the State in which the Premises are located.
Appears in 1 contract
Samples: Industrial Lease (Rockford Corp)
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default any material default or breach by Tenant, at any time thereafter, with or without notice or demand and after the applicable notice and cure period, and subject to terms and conditions provided herein, Landlord may, without limiting Landlord in the exercise of any other right Landlord's rights or remedy that remedies:
24.a. Landlord may have by reason or such defaultelect to re-enter, the remedies of Landlord hereunder being cumulative and not exclusive of one another: (a) perform on Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or take possession of the Premises pursuant to legal proceedings or pursuant to any notice provided for by law. In re-entering the Premises, Landlord may either terminate this Lease or, from time to time, without terminating this Lease, make such alterations and repairs as may be necessary in order to relet the Premises and relet the Premises or any part thereof for such term (cwhich may be for a term extending beyond the term of this Lease) maintain Tenant’s right to possessionand at such rental and upon such other terms and conditions as Landlord, in its sole discretion, may deem advisable. Upon each such reletting all rents received shall be applied, first, to the payment of any indebtedness other than rent due hereunder from Tenant to Landlord; second, to the payment of rent due and unpaid hereunder; and the residue, if any, shall be held by Landlord and applied in payment of future rent as the same may become due and payable hereunder. If rentals received from such reletting during any month be less than the rent to be paid that month by Tenant thereunder, Landlord shall calculate such deficiency, which case this Lease shall continue be paid by Tenant monthly or at such greater intervals as Landlord may see fit; or Landlord may institute action for the whole of such deficiency immediately upon effecting any letting or reletting and shall not thereafter be precluded from further like action in effect and the event such letting or reletting shall nor embrace the whole unexpired portion of the term hereof. No such re-entry or taking possession of the Premises by Landlord shall be entitled construed as an election on its part to enforce terminate this Lease unless a written notice of such intention is given to Tenant, or unless the termination thereof is decreed by a court of competent jurisdiction. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease for any such previous breach. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedies it may have, it may recover from Tenant all damages it may incur by reason of such breach, including the cost of recovering the leased Premises, reasonable attorney fees, and the worth at the time of such termination of the excess, if any, of the amount of rent and charges equivalent to rent reserved in this Lease for the remainder of the stated term over the then reasonable rent value of the leased Premises for the remainder of the stated term, all of which amounts shall be immediately due and payable from Tenant.
24.b. Landlord or a receiver or trustee may take possession of the leased Premises at the instance of Landlord in any action against Tenant or otherwise. The Landlord’s right , receiver or trustee may collect the rents and remedies under profits from the Premises and all property of Tenant placed on the Premises may be taken, possessed and used by the Landlord or receiver or trustee, as the case may be, without compensation to Tenant, and may be let with the Premises upon any reletting provided for in this Lease, include and may be taken, possessed and used by the substitute tenant in the conduct of the substitute tenant's business, without compensation to the Tenant and without constituting an eviction of Tenant from the leased Premises or any part thereof. Said right of taking, using and letting shall apply to any of said property which may be subject to a lease or to a conditional sales contract, lease contract, reserved or security title, chattel mortgage or other security document, instrument, or agreement to secure the balance of the purchase price thereof or other obligation of Tenant. The Landlord, receiver or trustee, as the case may be, shall be subrogated to all rights of Tenant in the Premises and shall have the right to recover make such payments as may be required to prevent repossession or foreclosure or the Rent exercise of any remedy by the obligees under any such lease or security document, instrument or agreement; and the amount so paid, with interest therein, shall be added to the sum due from Tenant to Landlord.
24.c. Each of the foregoing remedies may be exercised jointly or severally with any of the remedies provided by this Lease or by law, at the option of the Landlord or receiver or trustee, and any remedy elected may be abandoned or terminated and may be resumed after such abandonment or termination, at the option of the Landlord, receiver or trustee.
24.d. Tenant agrees to hold Landlord free and harmless from any claim of any character by any person arising out of or in any way connected with the entry and the taking possession of the Premises and/or said personal property by the Landlord, receiver or trustee, as the case may be.
24.e. Tenant expressly waives any and all rights of redemption granted by or under any present or future laws in the event of Tenant being evicted or dispossessed for any cause, or in the event of Landlord obtaining possession of the leased Premises by reason of the violation by Tenant of any of the covenants or conditions of this Lease or otherwise.
24.f. The rights and remedies herein set forth and granted to Landlord shall be cumulative and in addition to any and all other amounts payable hereunder rights and remedies provided and given to Landlord under the laws of the state where the Premises are located. The use of any one or more of the rights and remedies here enumerated, as they become due otherwise provided for hereunder, shall not constitute an election of remedies; nor, in such event, shall Landlord be barred or estopped from using or asserting any other or different or concurrent or cumulative right or remedy at the same or any other of different time or place.
Appears in 1 contract
Samples: Office Building Lease (Schimatic Cash Transactions Network Com Inc)
REMEDIES IN DEFAULT. On a. In the occurrence event Lessee is in default or breach of this Lease as set forth in Section 18 hereof, Lessee shall have ten (10) days from its receipt of written notice from Lessor, setting forth Lessee’s default or breach hereunder, to make payment to Lessor (in the form of cash, cashier’s check or other certified funds) in the amount of the Tenant Default and after sum of all Rents due for the applicable notice and cure periodtwelve (12) months immediately following the month in which Lessee’s default or breach of this Lease occurred (for purposes of this Section 19, said payment by Lessee to Lessor shall be referred to as the “Curing Payment”). The Curing Payment shall be credited to Lessee for its payment of those Rents covered by the Curing Payment. Upon Lessor’s timely receipt of the Curing Payment, Lessee’s default or breach shall be deemed cured.
b. In the event Lessee fails to pay the Curing Payment in accordance with Section 19(a) hereof, then Lessor may, at any time following the date such Cure Payment is due under Section 19(a), in its sole discretion, and subject to terms and conditions provided herein, Landlord may, without limiting Landlord Lessor in the exercise of any other a right or remedy that Landlord which Lessor may have by reason of such default or such default, breach:
1. Terminate Lessee’s right to possession of the remedies of Landlord hereunder being cumulative and not exclusive of one another: (a) perform on Tenant’s behalf, Premises by any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)lawful means, in which event Tenant case this Lease shall reimburse Landlord for terminate and Lessee shall immediately surrender possession of the Premises to Lessor. In such event, Lessor shall be entitled to recover from Lessee all expenses damages incurred by Lessor by reason of Lessee’s possession of the Premises including the costs reasonably incurred by Landlord Lessor to restore the Premises in doing sogood order and condition, plus interest reasonable attorney’s fees, the worth, at the Default Ratetime of an award by the court having jurisdiction thereof, which expenses of the amount of any unpaid Rents and other charges due for the balance of the term herein (or any renewal term if applicable), excepting any such sums and/or amounts that Lessor could have reasonably avoided. Upon Lessor’s termination of Lessee’s right to possession of the Premises, as set forth in this Section 19(b)(1), any unpaid installments of Rents or other sums shall bear interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value due at the above specified discount maximum legal rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenantor
2. Maintain Lessee’s right to possession, in which case this Lease shall continue in effect and Landlord whether or not Lessee shall have abandoned the Premises. In such event Lessor shall be entitled to enforce all of LandlordLessor’s right rights and remedies under this Lease, include Lease including the right to recover the Rent Rents and any other amounts payable hereunder charges and adjustments as they may become due hereunder; or
3. Pursue any other remedy now or hereafter available to Lessor under the laws or judicial decisions of the State in which the Premises are located.
Appears in 1 contract
Samples: Commercial Lease Agreement (Vireo Health International, Inc.)
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant any such material Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinor breach by Tenant, Landlord maymay at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: (a) perform on breach:
20.a. Terminate Tenant’s behalf, right to possession of the Premises by any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)lawful means, in which event case this Lease shall terminate and Tenant shall reimburse immediately surrender possession of the Premises to Landlord. In such event Landlord for shall be entitled to recover from Tenant all expenses reasonably damages incurred by Landlord in doing soby reason of Tenant’s default including, plus interest but not limited to, the cost of recovering possession of the Premises; expenses of reletting, including necessary renovation and alteration of the Premises, reasonable attorney’s fees, any real estate commission actually paid; the worth at the Default Rate, time of award by the Court having jurisdiction thereof of the amount by which expenses and interest shall the unpaid rent for the balance of the term after the time of such award exceeds the amount of such rental loss for the same period that Tenant proves could be additional rent and shall be payable by Tenant immediately on demand therefore by Landlordreasonably avoided; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired that portion of the Term, plus the reasonable cost to leasing commission held by Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain and
20.b. Maintain Tenant’s right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises. In such event Landlord shall be entitled to enforce all of Landlord’s right rights and remedies under this Lease, include including the right to recover the Rent and other amounts payable hereunder rent as they become it becomes due hereunder.
20.c. Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decision of the State in which the Premises are located.
Appears in 1 contract
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default any such material default or breach by TENANT, LANDLORD may at any time thereafter, with or without notice or demand and after the applicable notice and cure period, and subject to terms and conditions provided herein, Landlord may, without limiting Landlord LANDLORD in the exercise of any other a right or remedy that Landlord which LANDLORD may have by reason of such default or breach:
(a) Terminate TENANT’S right to possession of the PREMISES by any lawful means, in which case this Lease shall terminate and TENANT shall immediately surrender possession of the PREMISES to LANDLORD. In such event LANDLORD shall be entitled to recover from TENANT all damages incurred by LANDLORD by reason of TENANT’S default, including but not limited to, the remedies cost of Landlord hereunder being cumulative recovering possession of the PREMISES; expenses of re-letting, including necessary renovation and not exclusive alteration of one anotherthe PREMISES, reasonable attorney’s fees, the worth at the time of award by the Court having jurisdiction thereof of the amount by which the unpaid rent for the balance of the term after the time of such award exceeds the amount of such rental loss for the same period that TENANT proves could be reasonably avoided. In the event TENANT shall have abandoned the PREMISES, LANDLORD shall have the option of: (a) perform on Tenant’s behalf, any unperformed covenant taking possession of the PREMISES and recovering from TENANT the amount specified in this paragraph; or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) proceeding under the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion provisions of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less following paragraph.
(iiib) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s Maintain TENANT’S right to possession, in which case this Lease shall continue in effect and Landlord whether or not TENANT shall have abandoned the PREMISES. In such event LANDLORD shall be entitled to enforce all of Landlord’s right LANDLORD’S rights and remedies under this Lease, include including the right to recover the Rent and other amounts payable hereunder rent as they become it becomes due hereunder. (c) Pursue any other remedy now or hereafter available to LANDLORD under the laws or judicial decision of the State of Nevada without election.
Appears in 1 contract
Samples: Commercial Space Lease (Chapeau Inc)
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such material default or breach by Tenant, Landlord maymay at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such default or breach: 24a. Terminate Tenant's right to possession of the Premises by any lawful means. In which case this Lease shall terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such defaultevent Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant's default including, but not limited to, the remedies cost of recovering possession of the Premises; expenses of reletting, including necessary renovation and alteration of the Premises, reasonable attorney's fees, any real estate commission actually paid; the worth at the time of award by the court having jurisdiction thereof of the amount by which the unpaid rent for the balance of the term after the time of such award exceeds the amount of such rental loss for the same period that Tenant proves could be reasonably avoided; that portion of the leasing commission paid by Landlord hereunder being cumulative and not exclusive applicable to the unexpired term of one another: this Lease. Unpaid installments of rent or other sums shall bear interest from the date due at the rate of eighteen percent(18%) per annum. In the event Tenant shall have abandoned the Premises, Landlord shall have the option of (a) perform on Tenant’s behalftaking possession of the premises and recovering from Tenant the amount specified in this paragraph, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) proceeding under the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion provisions of the Term, plus the reasonable cost to Landlord of any repairs required to comply with following Article 24b. 24b. Maintain Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s 's right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises. In such event Landlord shall be entitled to enforce all of Landlord’s right 's rights and remedies under this Lease, include including the right to recover the Rent and other amounts payable hereunder rent as they become it becomes due hereunder. 24c.Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decision of the State of Nevada.
Appears in 1 contract
Samples: Lease Agreement (Pawnbroker Com Inc)
REMEDIES IN DEFAULT. On (a) In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such default or breach by Tenant, Landlord mayshall have the right at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other right or remedy that which Landlord may otherwise have by reason of such default or such defaultbreach, to terminate this Lease at its option or to re-enter and at its option to attempt to re-let without terminating this Lease and remove all persons and property from the Premises, using any force as may reasonably be necessary to accomplish said purposes, all without service of notice or resort to legal process and without being deemed guilty of trespass or forcible entry or becoming liable for any loss or damage which may be occasioned thereby.
(b) If Tenant shall fail to remove any effects which it is entitled to remove from the Premises upon the termination of this Lease, or any extension or renewal hereof, or upon a re-entry by Landlord for any cause whatsoever, or upon Tenant's ceasing to possess the Premises for any reason, the remedies Landlord, at its option, may remove the same and store or dispose of the said effects without liability for loss or damage thereto, and Tenant agrees to pay to Landlord on demand any and all expenses incurred in such removal, including Court costs, attorneys fees, storage and insurance charges on such effects for any length of time the same shall be in Landlord's possession; or the Landlord, at its option, without notice, may sell such effects, or any of them, at private or public sale and without legal process, for such price or consideration as the Landlord may obtain, and apply the proceeds of such sale upon any amounts due under this Lease from the Tenant to the Landlord, and upon the expenses incidental to the removing, cleaning the Premises, selling said effects, and any other expense, rendering the surplus, if any, to the Tenant; provided, however, in the event the proceeds of such sale or sales are insufficient to reimburse the Landlord, Tenant shall pay such deficiency upon demand. Tenant acknowledges and agrees that any such disposition of Tenant's property in the above-described manner by the Landlord shall be deemed to be commercially reasonable and that no bailment shall be created by Landlord's exercise of any of its rights under this paragraph (b). If Landlord is unable to sell certain of Tenant's effects hereunder being cumulative and Tenant does not exclusive retrieve such effects from Landlord after ten (10) days written notice as provided herein to Tenant to do so, such effects shall be conclusively deemed abandoned and Landlord shall be free to dispose of one another: such effects as Landlord deems appropriate
(ac) perform Should Landlord elect to re-enter, as herein provided, or should it take possession pursuant to legal proceedings, or pursuant to any notice provided for by law, it may make such alterations, additions, improvements and repairs as may be necessary in order to re-let the Premises, and may but need not re-let the Premises or any part thereof for such term or terms (which may be for a term extending beyond the term of this Lease) and at such rental or rentals and upon such other terms and conditions as Landlord may determine to be advisable; upon each such re-letting all rentals received by Landlord; second the payment of any costs and expenses of such re-letting, including brokerage fees and attorneys fees and the cost of such alterations, improvements and repairs; third, to the payment of Base Rent due and unpaid hereunder, and the residue, if any, shall be held by Landlord and applied in payment of future rent as the same may become due and payable hereunder provided that Tenant shall have no right to claim any interest in all or any portion of said residue and if the rent and other charges paid or to be paid to Landlord by any new tenant pursuant to any re-letting exceed the monetary obligations of Tenant, Tenant shall have no right to claim any interest in all or any portion of said excess. If such rental received from such re-letting during any month be less than that to be paid during the month by Tenant hereunder, Tenant shall pay any such deficiency to Landlord, and such deficiency shall be calculated and paid monthly on Tenant’s behalfthe date on which the rent would have been payable hereunder if possession had not been retaken. If the Premises are re-let by Landlord during the existing term of this Lease, and the premises covered thereby include other premises not part of the Premises, a fair apportionment of the rent received from such re-letting and the expenses incurred in connection therewith as provided aforesaid will be made in determining the net proceeds from such re-letting and the expenses incurred in connection therewith as provided aforesaid will be made in determining the net proceeds from such reletting, and any unperformed covenant rent concessions will be equally apportioned over the term of the new Lease. Landlord shall in no event be liable in any way whatsoever for failure to re-let the premises for any reason, or obligation hereunder constituting in the event the Premises are re-let, for failure to collect the rent thereof under such Tenant Default (after giving Tenant re-letting. No such reentry or taking possession of the Premises by Landlord, nor any acts pursuant thereto, shall be construed as an election on its part to terminate this Lease unless a written notice of such termination be given to Tenant by Landlord’s intention to do so except in the case of emergency), in which event Tenant . No notice from Landlord under this Lease or under any applicable forcible entry and detainer or eviction statute or similar law shall reimburse Landlord for all expenses reasonably incurred constitute an election by Landlord in doing soto terminate this lease unless such notice specifically so states. Notwithstanding any such reletting without termination, plus interest Landlord may at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) any time thereafter elect to terminate this Lease and collect liquidated damages for such previous breach.
(d) Should Landlord at any time terminate this Lease for any default or breach, in addition to any other remedies it may have, it may recover from Tenant in an all damages it may incur by reason of such default or breach, including the cost of recovering the Premises, reasonable attorneys fees, and including the worth at the time of such termination of the excess, if any, of the amount equal of rent and such other charges as are required to (i) be paid by Tenant under the sum terms of all amounts due hereunder to this Lease for the date remainder of termination; plus (ii) the aggregate rent remaining stated term over the unexpired portion of the Term, plus the then reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over for the remaining portion remainder of the Term (stated term, all of which amounts shall be immediately due and payable from Tenant to Landlord; provided, however, a that if the then reasonable period rental value of timethe Premises exceeds the value of the rent and other charges required to be paid by Tenant under this Lease as aforesaid, Tenant shall have no right to claim any interest in all or any portion of such excess. In determining the rent which would be payable by Tenant hereunder, subsequent to default, the annual rent for each year of the unexpired term shall be equal to the average annual Base Rent and additional Rent paid or payable by Tenant from the Commencement Date of this Lease to the time of default, or during the preceding three (3) full calendar years, whichever is shorter; and
(e) Each of the remedies set forth herein above in this Section 17 shall not to exceed twenty four (24) monthsbe exclusive, may but rather shall be considered as a leasing period by cumulative with any other legal or equitable remedy now or hereafter available to Landlord under the laws or judicial decisions of the state in which the Premises are located. To the extent such waiver is permitted by law, the parties waive trial by jury in any action or proceeding brought in connection with this Lease. Suit or suits for the recovery of the amount of damages set forth herein above may be brought by Landlord, from time to time, at Landlord's election, and nothing herein shall be deemed to require Landlord to await the date whereon this Lease or the term hereof would not be leased and therefore have expired had there been no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred event of default. Nothing contained in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s right to possession, in which case this Lease shall continue limit or prejudice the right of Landlord to prove and obtain as liquidated damages in any bankruptcy, insolvency, receivership, reorganization or dissolution proceeding an amount equal to the maximum allowed by any statute or rule of law governing such proceeding and in effect and Landlord shall at the time when such damages are to be entitled proved, whether or not such amount be greater, equal to enforce all or less than the amounts recoverable, either as damages or rent, referred to in any of Landlord’s right and remedies under the preceding provisions of this Lease, include the right to recover the Rent and other amounts payable hereunder as they become due hereunderSection.
Appears in 1 contract
Samples: Commercial Lease (McData Corp)
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such material default or breach by Tenant, Landlord maymay at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such default or breach:
25.a. Terminate Tenant's right to possession of the Premises by any lawful means in which case this Lease shall terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such defaultevent Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant's default including, but not limited to, the remedies cost of recovering possession of the Premises, expenses of reletting, including necessary renovation and alteration of the Premises, reasonable attorney's fees, any real estate commission actually paid; the worth at the time of award by the court having jurisdiction thereof of the amount by which the unpaid rent for the balance of the term after the time of such award exceeds the amount of such rental loss for the same period that Tenant proves could be reasonably avoided; that portion of the leasing commission paid by Landlord hereunder being cumulative and not exclusive applicable to the unexpired term of one another: this Lease. Unpaid installments of rent or other sums shall bear interest from the date due at the rate of ten percent (10%) per annum. In the event Tenant shall have abandoned the premises, Landlord shall have the option of (a) perform on Tenant’s behalftaking possession of the Premises and recovering from Tenant the amount specified in this paragraph, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) proceeding under the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion provisions of the Term, plus the reasonable cost to Landlord of any repairs required to comply with following Article 25.b.
25.b. Maintain Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s 's right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises. In such event Landlord shall be entitled to enforce all of Landlord’s right 's rights and remedies under this Lease, include including the right to recover the Rent and other amounts payable hereunder rent as they become it becomes due hereunder.
25.c. Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decision of the State in which the Premises are located.
Appears in 1 contract
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such default or breach by Tenant, Landlord maymay at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other right or remedy that which Landlord may have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: breach:
(a) perform on Terminate Tenant’s behalf, 's right to possession of the Premises by any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)lawful means, in which event case this Lease shall terminate and Tenant shall reimburse immediately surrender possession of the Premises to Landlord. In such event Landlord for shall be entitled to recover from tenant all expenses reasonably damages incurred by Landlord in doing soby reason of Tenant's default, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to including but not limited to: (i) the sum cost of all amounts due hereunder to recovering possession of the date of terminationPremises; plus and (ii) the aggregate rent remaining over the unexpired portion expenses of reletting, including necessary renovation and alteration of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the TermPremises; less and (iii) reasonable attorney's fees, and any real estate commission actually paid applicable to the aggregate fair net rental value unexpired term of this Lease; and liv) the worth at the time of award determined by the court having jurisdiction thereof, of the Premises over unpaid rent that had been earned at the remaining portion time of termination of this Lease; and (v) any other amount, and court costs necessary to compensate Landlord for all detriment proximately caused by Tenant's default. In the event Tenant shall have abandoned the Premises, Landlord shall have the option of (1) retaking possession of the Term (providedPremises, however, a reasonable period taking possession of time, not to exceed twenty four (24) months, may be considered as a leasing period by which all personal property remaining in the Premises would not be leased and therefore no income would be realized for such periodrecovering from Tenant the amount specified in this Article 14.2(a) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided14.2(d), or (c2) maintain proceeding under Article 14.2(b). As used in this Paragraph, the term "the worth at the time of award" is to be computed by discounting the total rent payable by the amount of the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus one percent (1%).
(b) Maintain Tenant’s 's right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises. In such event, Landlord shall be entitled to enforce all of Landlord’s right 's rights and remedies under this Lease, include Lease including the right to recover the Rent and other amounts payable hereunder rent as they become it becomes due hereunder.
(c) Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decisions of the state in which the Premises are located.
(d) Any rent or other charge that is not paid when due shall bear interest from the date due until paid at the rate of sixteen (16%) per annum; provided, however, that in no event shall such rate to be charged Tenant exceed the rate otherwise permitted by law.
Appears in 1 contract
Samples: Lease Agreement (Optiva Corp /Wa/)
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default any such material default or breach by Lessee, Lessor may at any time thereafter, with or without notice or demand and after the applicable notice and cure period, and subject to terms and conditions provided herein, Landlord may, without limiting Landlord Lessor in the exercise of any other a right or remedy that Landlord which Lessor may have by reason of such default or such default, breach:
(A) Terminate Lessee's right to possession of the remedies of Landlord hereunder being cumulative and not exclusive of one another: (a) perform on Tenant’s behalf, Premises by any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)lawful means, in which case this Lease shall terminate and Lessee shall immediately surrender possession of the Premises to Lessor. In such event Tenant Lessor shall reimburse Landlord for be entitled to recover from Lessee all expenses reasonably damages incurred by Landlord in doing soLessor by reason of Lessee's default including, plus interest but not limited to, the cost of recovering possession of the Premises; expenses of reletting, including necessary renovation and alteration of the Premises, reasonable attorney's fees, any real estate commission actually paid; the worth at the Default Rate, time of award by the court having jurisdiction thereof of the amount by which expenses and interest shall the unpaid rent for the balance of the term after the time of such award exceeds the amount of such rental loss for the same period that Lessee proves could be additional rent and shall be payable by Tenant immediately on demand therefore by Landlordreasonable avoided; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired that portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal leasing commission paid by Lessor and applicable to the unexpired term of this Lease. Unpaid installments of rent or other sums shall bear interest from the date due at the rate of a governmental security having a mutual closest to ten (10%) per cent per annum. In the then current expiration of event Lessee shall have abandoned the Term; less Premises, Lessor shall have the option of:
(iii1) the aggregate fair net rental value taking possession of the Premises over and recovering from Lessee the remaining portion amount specified in this paragraph, or
(2) proceeding under the provision of the Term following Article 26 (provided, however, a reasonable period of time, not to exceed twenty four B).
(24B) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s Maintain Lessee's right to possession, in which case this Lease shall continue in effect and Landlord whether or not Lessee shall have abandoned the Premises. In such event Lessor shall be entitled to enforce all of Landlord’s right Lessor's rights and remedies under this Lease, include including the right to recover the Rent and other amounts payable hereunder rent as they become it becomes due hereunder.
(C) Pursue any other remedy now or hereafter available to Lessor under the laws or judicial decision of the State in which the Premises are located.
Appears in 1 contract
Samples: Lease (More Com Inc)
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such default or breach by Tenant, Landlord maymay at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other right or remedy that which Landlord may have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: breach:
(a) perform on Tenant’s behalf, Terminate Xxxxxx's right to possession of the Property by any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)lawful means, in which event case this Lease shall terminate and Tenant shall reimburse immediately surrender possession of the Property to Landlord. In such event Landlord for shall be entitled to recover from Tenant all expenses reasonably damages incurred by Landlord in doing soby reason of Tenant's default, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to including but not limited to: (i) the sum cost of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion recovering possession of the Term, plus Property; and the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value unpaid rent that had been earned at the above specified discount ratetime of termination of this Lease; plus and (ivv) Landlord’s any other amount, and court costs and expenses incurred in necessary to compensate Landlord for all detriment proximately caused by Xxxxxx's default as determined by the enforcement hereof including reasonable attorneys fees as herein provided, or court having jurisdiction thereof.
(cb) maintain Maintain Tenant’s 's right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Property. In such event, Landlord shall be entitled to enforce all of Landlord’s right 's rights and remedies under this Lease, include Lease including the right to recover the Rent and other amounts payable hereunder rent as they become it becomes due hereunder.
(c) Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decisions of the state in which the Property are located.
(d) Any rent or other charge that is not paid when due shall bear interest from the date due until paid at the rate of twelve (12%) per annum or the maximum rate permitted by law, whichever is lower.
Appears in 1 contract
Samples: Lease Agreement
REMEDIES IN DEFAULT. On the occurrence of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided herein, Landlord may, without limiting Landlord in the exercise of any other right or remedy that Landlord may have by reason or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: (a) perform on Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on On demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s right to possession, in which case this Lease shall continue in effect and Landlord shall be entitled to enforce all of Landlord’s right and remedies under this Lease, include the right to recover the Rent and other amounts payable hereunder as they become due hereunder.
Appears in 1 contract
Samples: Ground Lease (VCG Holding Corp)
REMEDIES IN DEFAULT. On In the occurrence event of any such Default as provided in Section 20 above, Landlord shall have the Tenant Default and after the applicable notice and cure periodfollowing remedies, in addition to any other rights or remedies which Landlord may have by reason of such Default, and subject in addition to terms and conditions provided herein, Landlord may, without limiting Landlord in the exercise of any other right or remedy that Landlord may have at law or in equity:
A. Landlord shall have the right to cancel and terminate this Lease by reason written notice to Tenant and all of the right, title and interest of Tenant hereunder, but not Tenant's liability, shall terminate in the same manner and with the same force and effect as if the date fixed in the notice of cancellation and termination were the end of the term herein originally determined.
B. Landlord may elect, but shall not be obligated, to make any payment required of Tenant herein or comply with any agreement, term, or condition required hereby to be performed by Tenant, and Landlord shall have the right to enter the Premises for the purpose of correcting or remedying any such defaultDefault and to remain until the Default has been corrected or remedied, but any expenditure for the remedies correction by Landlord shall not be deemed to waive or release the Default of Tenant or the right of Landlord to take any action as may be otherwise permissible hereunder being cumulative and not exclusive of one another: (a) perform on Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)any Default.
C. Landlord may re‑enter the Premises immediately and remove the property and personnel of Tenant (1) store the property in a public warehouse or at a place selected by Landlord, at the expense of Tenant or (2) dispose of and/or sell such property and apply the proceeds there from pursuant to applicable Virginia law, all as attorney-in-fact for Tenant. After re‑entry Landlord may terminate this Lease by giving five (5) days written notice of termination to Tenant. Without notice, re‑entry will not terminate this Lease.
D. After re‑entry, Landlord may relet the Premises or any part thereof for any term without terminating this Lease, at such rent and on such terms as Landlord may choose. Landlord may make alterations and repairs to the Premises. If the Premises are relet as provided herein, in which event addition to Tenant's liability to Landlord for breach of this Lease, Tenant shall reimburse Landlord be liable for all expenses reasonably of the reletting, for the alterations and repairs made, and for the difference between the rent received by Landlord under the new lease and the rent installments that are due for the same period under this Lease.
E. Landlord shall apply the rent received from reletting the Premises (l) to reduce the indebtedness of Tenant to Landlord under this Lease, not including indebtedness for Rent, (2) to expenses of the reletting and alterations and repairs made, (3) to Rent due under this Lease, or (4) to payment of future rent under this Lease as it becomes due.
F. In the event of termination or repossession following a Default, Tenant shall pay to Landlord the amount of all Rent and Additional Rent (including, but not limited to, the reasonable attorneys' fees and costs incurred by Landlord) due through the earlier of the date of termination or repossession.
G. After termination, Landlord in doing somay accelerate all remaining Rent and additional payments due hereunder (“Accelerated Rent”) and Tenant shall pay to Landlord, on demand, the Accelerated Rent which shall be calculated as the present cash value (using an annual discount rate of 3%) on the date of demand of the Rent and additional amounts which would have been payable from the date of termination for what would have been the unexpired Term if it had not been terminated, plus interest at the Default Rate, which expenses Rent and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts payments due hereunder to through the date of termination; plus (ii) , which remain unpaid. For the aggregate rent remaining over purposes of this calculation, future additional payments shall include any amounts which Tenant is obligated to pay under the unexpired portion of the TermLease, plus the reasonable cost including, but not limited to Landlord of any repairs required to comply with Tenant’s obligationsreal estate taxes, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (providedutilities and insurance, however, a reasonable period of time, not to exceed twenty four (24) months, may which shall be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value calculated at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s right to possession, in which case this Lease shall continue amount of such additional payments in effect and Landlord shall be entitled prior to enforce all of Landlord’s right and remedies under this Lease, include the right to recover the Rent and other amounts payable hereunder as they become due hereunderTenant's Default.
Appears in 1 contract
Samples: Commercial Lease (Silicom Ltd.)
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such material default or breach by Tenant, Landlord maymay at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such default or breach:
a. Terminate Tenant's right to possession of the Premises by any lawful means, in which case this Lease shall terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such defaultan event Landlord shall be entitled to recover from tenant all damages incurred by Landlord by reason of Tenant's default including, but not limited to the remedies cost of recovering possession of the Premises; expenses off reletting, including necessary renovation and alteration of the Premises, reasonable attorney's fees, any real estate commissions actually paid; the worth at the time of award by the court having jurisdiction thereof of the amount by which the unpaid rent for the balance of the term after the time of such award exceeds the amount of such rental loss for the same period that Tenant proves could be reasonably avoided; that portion of the leasing commission paid by Landlord hereunder being cumulative and not exclusive applicable to the unexpired term of one another: this Lease. Unpaid installments of rent or other sums shall bear interest from the date due at the maximum rate per annum permitted by law. In the event Tenant shall have abandoned the Premises, Landlord shall have the option of (a) perform on Tenant’s behalftaking possession of the Premises and recovering from Tenant the amount specified in this paragraph, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) proceeding under the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion provisions of the Term, plus the reasonable cost to Landlord of any repairs required to comply with following Article 23.
b. Maintain Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s 's right to possession, possession in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises. In such event Landlord shall be entitled to enforce all of Landlord’s right 's rights and remedies under this Lease, include including the right to recover the Rent and other amounts payable hereunder rent as they become it becomes due hereunder.
c. Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decision of the State in which the premises are located.
Appears in 1 contract
REMEDIES IN DEFAULT. On In the occurrence event of the any such default or breach of Tenant Default and which remains uncured after the applicable notice and cure period, Landlord may at any time hereafter, with or without notice or demand and subject to terms and conditions provided herein, Landlord may, without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: (a) perform on breach:
24.A. Terminate Tenant’s behalf, right to possession of the Premises by any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)lawful means, in which event case this Lease shall terminate, and Tenant shall reimburse immediately surrender possession of the Premises to Landlord. In such event Landlord for shall be entitled to recover from Tenant all expenses reasonably damages incurred by Landlord in doing soby reason of Tenant’s default, plus interest including, but not limited to: the cost of recovering possession of the Premises; expenses of reletting, including necessary renovation and alteration of the Premises; reasonable attorney’s fees; the worth at the Default Rate, which expenses and interest shall be additional rent and shall be payable time of award by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion court having jurisdiction thereof of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period amount by which the Premises would not unpaid Minimum Rent, Adjustments and other charges called for herein fix the balance of the term after the time of such award exceeds the amount of such loss for the same period that Tenant proves could be leased reasonably avoided; and therefore no income would be realized for such period) reduced that portion of any leasing commission paid by Landlord and applicable to present value the unexpired term of this Lease. Unpaid installments of Minimum Rent or other sums shall bear interest from the date due at the above specified discount ratemaximum rate of interest then permitted by law; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain or
24.B. Maintain Tenant’s right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises. In such event Landlord shall be entitled to enforce all of Landlord’s right rights and remedies under this Lease, include including the right to recover the Minimum Rent and any other amounts payable hereunder charges and Adjustments as they may become due hereunder; or
24.C. Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decisions of the State in which the Premises are located.
Appears in 1 contract
REMEDIES IN DEFAULT. On In the occurrence above event of the Tenant Default and after the applicable notice and cure periodany such default or breach by Tenant, Landlord may at any time thereafter, in his sole discretion, and subject to terms and conditions provided herein, Landlord may, without limiting Landlord in the exercise of any other a right or remedy that whi9h Landlord may have by reason of such default or such default, breach:
A. Terminate Tenant's right to possession of the remedies of Landlord hereunder being cumulative and not exclusive of one another: (a) perform on Tenant’s behalf, premises by any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)lawful means, in which event case this Lease shall terminate and Tenant shall reimburse immediately surrender possession of the premises to Landlord. In such event, Landlord for shall be entitled to recover from Tenant all expenses reasonably damages incurred by Landlord in doing soby reason of Tenant's default including, plus interest but not limited to, the cost of recovering possession of the premises; expenses of reletting; including necessary renovation and alteration of the premises; reasonable attorney's fees; the worth at the Default Rate, time of award by the court having jurisdiction thereof of the amount by which expenses and interest shall be additional the unpaid rent and shall other charges and Adjustments called for herein for the balance of the term after the time of such award exceeds the amount of such loss for the same period that Tenant proves could be payable reasonably avoided; and that portion of any Leasing commission paid by Tenant immediately on demand therefore by Landlord; and/or (b) terminate Landlord and applicable to the unexpired term of this Lease and collect liquidated damages Lease. Unpaid installments of rent or other sums bear interest from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value suit at the above specified discount maximum legal rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain or
B. Maintain Tenant’s 's right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the premises. In such event Landlord shall be entitled to enforce all of Landlord’s right 's rights and remedies under this Lease, include including the right to recover the Rent rent and any other amounts payable hereunder charges and Adjustments as they may become due hereunder; or
C. Pursue any other remedy now or hereafter available to Landlord under the laws of the State of California.
Appears in 1 contract
Samples: Lease (Heritage Oaks Bancorp)
REMEDIES IN DEFAULT. On In the occurrence event of any such default or breach by Tenant, Landlord may exercise any one or more of the Tenant Default following remedies at any time after such default or breach, with or without notice or demand and after the applicable notice and cure period, and subject to terms and conditions provided herein, Landlord may, without limiting Landlord in the exercise of any other right or remedy that which Landlord may have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: breach.
(a) perform on Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency), Terminate this Lease Agreement in which event Tenant shall reimburse immediately surrender the Premises to Landlord, but if Tenant shall fail so to do, Landlord may, subject to applicable law, without notice and without prejudice to any other remedy for possession or arrearages in rent, enter upon and take possession of the Premises and expel or remove Tenant and its effects, without being liable to prosecution or any claim for damages for taking such actions; and Tenant agrees to indemnify Landlord for all expenses reasonably incurred loss and damage which Landlord may suffer by Landlord in doing soreason of such termination, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal whether through inability to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of relet the Premises over the remaining portion of the Term (on satisfactory terms, or through decrease in rent or otherwise, provided, however, that in no event shall Tenant's liability hereunder exceed the entire amount of rent which would have become due and payable during the remainder of the term of this Lease, and provided further, that Landlord shall have a reasonable period of time, not duty to exceed twenty four mitigate damages to the extent reasonably practicable.
(24b) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or [INTENTIONALLY OMMITTED]
(c) maintain Subject to applicable law, enter upon and take possession of the Premises as the agent of Tenant’s right , without being liable to possessionprosecution or any claim for damages for taking such actions, and Landlord may relet the Premises as the agent of the Tenant and receive the rent, and in which case such event, Tenant shall pay Landlord the cost of renovating, repairing and altering the Premises for a new tenant or tenants and any deficiency that may arise by reason of such reletting, on demand at the address of Landlord specified in this Lease; provided however, the failure of Landlord to relet the Premises after taking reasonably practicable measures to do so, shall not release or affect Tenant's liability for rent or for damages and such rent and damages shall be paid by Tenant on the dates specified in this Lease.
(d) Landlord may, as agent of Tenant, do whatever Tenant is obligated to do by the provisions of this Lease shall continue and may enter the Premises, by force if necessary, without being liable to prosecution or any claim for damages for same in effect order to accomplish this purpose. Tenant agrees to reimburse Landlord immediately upon demand for any expenses which Landlord may incur in thus effecting compliance with this Lease on behalf of Tenant, and Tenant further agrees that Landlord shall not be entitled liable for any damages resulting to enforce all Tenant from such action, whether caused by the negligence of Landlord’s right and Landlord or otherwise. Pursuit of any of the remedies under set forth above shall not preclude pursuit of any of the other remedies provided in this Lease, include the right to recover the Rent and Lease or any other amounts payable hereunder as they become due hereunderremedies provided by law.
Appears in 1 contract
REMEDIES IN DEFAULT. On No default or breach by the occurrence Landlord shall relieve Tenant of Tenant's liabilities and obligations under this Lease whether or not the Tenant Default and after Premises shall be relet. In the applicable notice and cure period, and subject to terms and conditions provided hereinevent of any default or breach by Tenant, Landlord may, at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other right or remedy that which Landlord may have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: breach:
(a) perform on Terminate Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention 's right to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value possession of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s right to possessionany lawful means, in which case this Lease shall continue in effect terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such event, Landlord shall be entitled to enforce recover from Tenant all damages it may incur by reason of Landlord’s right Tenant's default including, but not limited to, the cost of recovering possession of the Premises, expenses of reletting, including reasonably necessary renovation and remedies under alteration of the Premises, reasonable attorneys' fees, any real estate commission actually paid, the difference between the Base Rent and Additional Rent reserved in this Lease from the date of such default or breach to the date of the expiration of the term hereof as renewed and extended and the then fair and reasonable rental value of the Premises for the same period, and that portion of the leasing commission paid by Landlord and applicable to the unexpired term of this Lease, include all of which amount shall be immediately due and payable from Tenant to Landlord. Unpaid installments of Rent or other sums shall bear interest from the right date due at the rate of eighteen percent (18%) per annum.
(b) Landlord, as agent for Tenant, may immediately re-enter the Premises and take possession thereof and all permanent improvements thereon and remove or put out Tenant or any other persons who may be thereon by force, summary action or otherwise together with all personal property found therein and such property may be stored in a public warehouse or elsewhere at the cost of and for the account of Tenant, all without service or notice and make such alterations and repairs as may be necessary in order to recover relet the Premises, and relet the Premises or any part thereof, for such term or terms (which may be greater or less than the period which would otherwise have constituted the balance of the term of this Lease) and at such rent or rentals and upon such other terms and conditions as Landlord, in its sole discretion, may deem advisable; upon each such reletting, all rentals received by Landlord from such reletting shall be applied, first to the payment of any indebtedness other than Rent due hereunder from Tenant to Landlord, second, to the payment of any costs and other amounts payable hereunder expenses of such reletting, including brokerage fees and attorneys' fees and of costs of such alterations and repairs, third, to the payment of Rent due and unpaid hereunder, and the residue, if any, shall be held by Landlord and applied in payment of future Rent or damage as they the same may become due and payable hereunder. If such rentals received from such reletting during any month be less than that to be paid during that month by Tenant hereunder, Tenant shall pay any such deficiency to Landlord, the same to be calculated and paid monthly, along with interest at eighteen percent (18%) per annum until paid in full. No such re-entry or taking possession of the Premises by Landlord shall be construed as an election on its part to terminate this Lease unless a written notice of such intention is given to Tenant or unless the termination thereof is decreed by a court of competent jurisdiction. If Tenant shall, after default, voluntarily give up possession to Landlord, deliver to Landlord the keys to the Premises, or both, such actions shall be deemed to be in compliance with Landlord's rights and the acceptance thereof by Landlord shall not be deemed to constitute a surrender of the leased Premises. Notwithstanding any such reletting without termination, Landlord may, at any time thereafter, elect to terminate this Lease for such previous breach. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedies it may have, it may recover from Tenant all damages it may incur by reason of Tenant's default, as provided in subparagraph (a) hereof. Notwithstanding anything set forth in Section 28(k) of this Lease to the contrary, if Landlord shall bring suit for recovery of possession of the Premises, for the recovery of Rent, damages or other amount due under the provisions of this Lease, or because of the breach of any other covenant herein contained on the part of Tenant to be kept or performed, then Tenant shall pay to Landlord all expenses incurred therefor, including reasonable attorneys' fees. Landlord shall not be obligated to notify Tenant of the due date of Rent nor demand payment thereof on its due date, the same being expressly waived by Tenant. The acceptance of any sums of money from Tenant after the expiration of any notice and cure period as provided above shall be taken to be a payment on account by Tenant and shall not constitute a waiver by Landlord of any rights, nor shall it reinstate the Lease or cure a default on the part of Tenant.
Appears in 1 contract
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such default or breach of Tenant, Landlord maymay at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other right or remedy that which Landlord may have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: breach:
(a) perform on Terminate Tenant’s behalf, 's right to possession of the Premises by any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)lawful means, in which case this Lease shall terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such event Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant's default including, but not limited to, the cost of recovering possession of the Premises; expenses of reletting, including necessary renovation and alteration of the Premises, reasonable attorney's fees, and any real estate commission actually paid; the worth at the time of award by the court having jurisdiction thereof of the amount by which the unpaid rent for the balance of the term after the time of such award exceeds the amount of such rental loss for the same period that Tenant proves could be reasonably avoided; and that portion of the leasing commission paid by Landlord applicable to the unexpired term of this Lease. Unpaid installments of rent or other sums shall bear interest from the date due at the rate of ten (10%) percent per annum. In the event Tenant shall reimburse have abandoned the Premises, Landlord for all expenses reasonably incurred by Landlord shall have the option of (i) retaking possession of the Premises and recovering from Tenant the amount specified in doing sothis Article 14.2(a), plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or or (ii) proceeding under Article 14.2(b).
(b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Maintain Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s 's right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises. In such event, Landlord shall be entitled to enforce all of Landlord’s right 's rights and remedies under this Lease, include including the right to recover the Rent and other amounts payable hereunder rent as they become it becomes due hereunder.
(c) Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decisions of the state in which the Premises are located.
Appears in 1 contract
REMEDIES IN DEFAULT. On (a) In the occurrence event of the any such default by Tenant Default and after the applicable notice and expiration of any applicable cure period, and subject to terms and conditions provided hereinperiods, Landlord mayshall have the right at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other right or remedy that which Landlord may otherwise have by reason of such default or breach, to terminate this Lease at its option or to re-enter and at its option to attempt to re-let without terminating this Lease and remove all persons and property from the Premises in accordance with legal process and without being deemed guilty of trespass.
(b) If Tenant shall fail to remove any effects which it is entitled to remove from the Premises upon the termination of this Lease, or any extension or renewal hereof, or upon a re-entry by Landlord following a default by Tenant after expiration of applicable cure periods, Landlord, at its option, may remove the same and store or dispose of the such defaulteffects without liability for loss or damage thereto, and Landlord, at its option, without notice, may sell such effects, or any of them, at private or public sale and without legal process, for such price or consideration as Landlord may obtain, and apply the proceeds of such sale upon any amounts due under this Lease from Tenant to Landlord, and upon the actual out-of-pocket and verifiable expenses incidental to the removing, cleaning the Premises, selling such effects, and any other expense, rendering the surplus, if any, to Tenant; provided, however, in the event the proceeds of such sale or sales are insufficient to reimburse Landlord, Tenant shall pay such deficiency within thirty (30) days after demand (together with back-up documentation). Tenant acknowledges and agrees that any such disposition of Tenant's property in the above-described manner by Landlord shall be deemed to be commercially reasonable and that no bailment shall be created by Landlord's exercise of any of its rights under this subparagraph (b).
(c) Should Landlord elect to re-enter, as herein provided, or should it take possession pursuant to legal proceedings, or pursuant to any notice provided for by law, it may make such alterations, additions, improvements (provided the same are customary with general office use) and repairs as may be necessary in order to re-let the Premises, and may but need not (except as otherwise expressly provided herein) re-let the Premises or any part thereof for such term or terms (which may be for a term extending beyond the Lease Term) and at such rental or rentals and upon such other terms and conditions as Landlord may reasonably determine to be advisable; upon each such re-letting all rentals received by Landlord; shall be applied (i) first to the payment of any costs and expenses of such re-letting, including brokerage fees and reasonable attorneys’ fees and the cost of such alterations, additions, improvements and repairs; (ii) second, to the payment of Base Rent and Additional Rent due and unpaid hereunder, and the residue, if any, shall be held by Landlord and applied in payment of future rent as the same may become due and payable hereunder provided that Tenant shall have no right to claim any interest in all or any portion of such residue and if the rent and other charges paid or to be paid to Landlord by any new tenant pursuant to any re-letting exceed the monetary obligations of Tenant, Tenant shall have no right to claim any interest in all or any portion of such excess. If such rental received from such re-letting during any month be less than that to be paid during the month by Tenant hereunder, Tenant shall pay any such deficiency to Landlord, and such deficiency shall be calculated and paid monthly on the date on which the rent would have been payable hereunder if possession had not been retaken. If, during the existing Lease Term, the remedies premises covered thereby include other premises not part of the Premises, a fair apportionment of the rent received from such re-letting and the expenses incurred in connection therewith as provided aforesaid will be made in determining the net proceeds from such re-letting and the expenses incurred in connection therewith as provided aforesaid will be made in determining the net proceeds from such re-letting, and any rent concessions will be equally apportioned over the term of the new lease. Landlord hereunder being cumulative shall in no event be liable in any way whatsoever for failure to re-let the Premises for any reason, or in the event the Premises are re-let, for failure to collect the rent thereof under such re-letting. Notwithstanding the foregoing or anything to the contrary contained in this Article 17, upon termination of Tenant's right to possess the Premises, Landlord shall make reasonable efforts to mitigate its damages and not exclusive of one another: relet the Premises. In attempting to mitigate its damages, Landlord will conclusively be deemed to have done so if Landlord lists the Premises with a real estate broker or agent (which may be affiliated with Landlord) and considers all written proposals to lease the Premises received by such broker or agent; provided, however, that in no event shall Landlord (a) perform be obligated to expend funds for finish-out requested by a prospective tenant which are in excess of market finish out allowances (as determined by Landlord in its reasonable business judgment) unless Landlord reasonably believes that the excess rent Landlord will receive and the credit of the prospective tenant support such a decision; (b) be required to give preference to the Premises over other spaces then available for lease in the Building; or (c) be required to agree to allow an existing tenant of the Building to relocate from its existing space to all or any portion of the Premises. In attempting to relet or actually reletting the Premises, Landlord will be free to enter into a direct lease with the proposed replacement tenant and Landlord shall not be acting as Tenant's agent, although the proceeds Landlord actually receives from a replacement tenant for any time period will be credited against Tenant's obligations for the same time period. Tenant will not be entitled to any additional credit (for example, if Landlord receives amounts during a particular time period in excess of Tenant's obligations for the same time period, and Landlord will not be required to credit such excess against Tenant's obligations for any other time period). At such time, if any, as Landlord relets the Premises, Tenant shall pay to Landlord monthly the difference between the monthly rent and other amounts due under this Lease for such calendar month and the amount actually collected by Landlord for such month from the replacement tenant to whom Landlord has re-let the Premises or any portion thereof. Tenant agrees to pay Landlord on Tenantdemand any deficiency that may arise by reason of such reletting. If it is necessary for Landlord to bring an action against Tenant to collect such deficiency, Landlord has the right to allow such deficiencies to accumulate and to bring an action on several or all of the accrued deficiencies at one time. Any such action shall not prejudice in any way Landlord’s behalfright to bring a similar action against Tenant for any subsequent deficiency or deficiencies. No such reentry or taking possession of the Premises by Landlord, or any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant acts pursuant thereto, shall be construed as an election on its part to terminate this Lease unless a written notice of such termination is given to Tenant by Landlord’s intention to do so except in the case of emergency), in which event Tenant . No notice from Landlord under this Lease or under any applicable forcible entry and detainer or eviction statue or similar law shall reimburse Landlord for all expenses reasonably incurred constitute an election by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) to terminate this Lease and collect liquidated damages unless such notice specifically so states. Notwithstanding any such re-letting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous breach.
(d) Should Landlord at any time terminate this Lease for any default or breach, in addition to any other remedies it may have, it may recover from Tenant in an all damages it may incur by reason of such default or breach, including the cost of recovering the Premises, reasonable attorneys’ fees, and including the worth at the time of such termination of the excess, if any, of the amount equal of rent and such other charges as are required to (i) be paid by Tenant under the sum provisions of all amounts due hereunder to this Lease for the date remainder of termination; plus (ii) the aggregate rent remaining stated Lease Term over the unexpired portion of the Term, plus the then reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over for the remaining portion remainder of the Term (stated Lease Term, all of which amounts shall be immediately due and payable from Tenant to Landlord; provided, however, a that if the then reasonable period rental value of timethe Premises exceeds the value of the rent and other charges required to be paid by Tenant under this Lease as aforesaid, Tenant shall have no right to claim any interest in all or any portion of such excess. In determining the rent which would be payable by Tenant hereunder, subsequent to default, the annual rent for each year of the unexpired Lease Term shall be equal to the average annual Base Rent and Additional Rent paid or payable by Tenant from the Commencement Date of this Lease to the time of default, or during the preceding three (3) full calendar years, whichever is shorter; and
(e) Each of the remedies set forth hereinabove in this Section 17 shall not to exceed twenty four (24) monthsbe exclusive, may but rather shall be considered as a leasing period by cumulative with any other legal or equitable remedy now or hereafter available to Landlord under the laws or judicial decisions of the state in which the Premises are located. To the extent such waiver is permitted by law, the parties waive trial by jury in any action or proceeding brought in connection with this Lease. Landlord may from time to time, at Landlord's election, bring suit or suits for the recovery of the amount of damages set forth hereinabove, and nothing herein shall be deemed to require Landlord to await the date whereon this Lease or the Lease Term would not be leased and therefore have expired had there been no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred event of default. Nothing contained in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s right to possession, in which case this Lease shall continue limit or prejudice the right of Landlord to prove and obtain as liquidated damages in any bankruptcy, insolvency, receivership, reorganization or dissolution proceeding an amount equal to the maximum allowed by any statue or rule of law governing such proceeding and in effect and Landlord shall at the time when such damages are to be entitled proved, whether or not such amount be greater, equal to enforce all or less than the amounts recoverable, either as damages or rent, referred to in any of Landlord’s right and remedies under the preceding provisions of this Lease, include the right to recover the Rent and other amounts payable hereunder as they become due hereunderSection.
Appears in 1 contract
Samples: Office Lease (Copart Inc)
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany default or breach by Tenant, Landlord maymay at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: breach:
(a) perform on Tenant’s behalfLandlord may elect to re-enter, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or take possession pursuant to legal proceedings or pursuant to any notice provided for by law, or it may either terminate this Lease or it may from time to time, without terminating this Lease, make such alterations and repairs as may be necessary in order to relet the Premises and relet said Premises or any part thereof for such term or terms (which may be for a term extending beyond the term of this Lease) and at such rental or rentals and upon such other terms and conditions as Landlord, in its sole discretion, may deem advisable. Upon each such reletting, all rentals received by Landlord from such reletting shall be applied, first, to the payment of any indebtedness other than rent due hereunder from Tenant to Landlord; second, to the payment of any costs and expenses of such reletting, including brokerage fees and attorney's fees, and to costs of such alterations and repair, third, to the payment of rent due and unpaid hereunder, and the residue, if any, shall be held by Landlord and applied in payment of future rent as the same may become due and payable hereunder. If such rentals received from such reletting during any month be less than that to be paid during that month by Tenant hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly or at such greater intervals as Landlord may see fit; or Landlord may institute action for the whole of such deficiency shall be calculated and paid monthly or at such greater intervals as Landlord may see fit; or Landlord may institute action for the whole of such embrace the whole unexpired portion of the term hereof. No such re-entry or taking possession of said Premises by Landlord shall be construed as an election on its part to terminate this Lease unless a written notice of such intention be given to Tenant, or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous breach. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedies it may have, it may recover from Tenant all damages it may incur by reason of such breach, including the cost of recovering the leased Premises and reasonable attorney's fees, and including the worth at the time of such termination of the excess, if any, of the amount of rent and charges equivalent to rent reserved in this Lease for the remainder of the stated term over the then reasonable rental value of the leased Premises for the remainder of the stated term, all of which amounts shall be immediately due and payable from Tenant.
(b) In the event Landlord or a receiver or trustee should take possession of the leased Premises at the instance of Landlord in any action against Tenant or otherwise, the Landlord, receiver or trustee may collect the rents and profits from the leased Premises or the business of Tenant and may conduct the business of Tenant on the leased Premises; and all property of Tenant placed on the Premises may be taken, possessed and used by the Landlord or receiver or trustee, as the case may be, in conducting the business of Tenant, without compensation to the Tenant, and may be let with the Premises upon any reletting provided for in this Lease, and may be taken, possessed and used by the substitute tenant in the conduct of the substitute tenant's business, without compensation to the Tenant and without constituting an eviction of Tenant from the leased Premises or any part thereof. Said right of taking, using and letting shall apply to any of said property which may be subject to a lease or to a conditional sale contract, lease contract, reserved or security title, chattel mortgage or other security document, instrument or agreement to secure the balance of the purchase price thereof, or other obligation of Tenant. The Landlord or receiver or trustee shall be subrogated to all rights of Tenant in the Premises and shall have the right to make such payments as may be required to prevent repossession or foreclosure or the exercise of any remedy by the obligee under any such lease or security document, instrument or agreement; and the amount so paid, with interest therein, shall be added to the sum due from Tenant to Landlord.
(c) maintain Each of the foregoing remedies may be exercised jointly or severally with any of the remedies provided by this Lease or by law, at the option of the Landlord or trustees; and any remedy elected may be abandoned or terminated and may be resumed after such abandonment or termination, at the option of the Landlord or receiver or trustee, as the case may be.
(d) Tenant hereby agrees to hold Landlord safe and harmless from any claim of any character by any person arising out of or in anywise connected with the entry and the taking possession of the leased Premises and/or said personal property by the Landlord or receiver or trustee, as the case may be.
(e) In the event Landlord commences any proceeding for nonpayment of rent, Tenant will not interpose any counterclaim of whatever nature or description in any such proceeding. This shall not, however, be construed as a waiver of the Tenant’s 's right to possession, assert such claims in which any separate actions brought by the Tenant.
(f) In case this Lease shall continue in effect and Landlord suit shall be entitled to enforce all brought by any third party for recovery of Landlord’s right and remedies possession of the leased Premises, for the attachment of rent or any other amount due under the provisions of this Lease, include or because of the breech of any other covenant herein contained on the part of Tenant to be kept or performed, and a breach shall be established; or should Landlord intervene In any action or proceeding ,wherein Tenant is a party in order to enforce or protect Landlord's interests or rights hereunder. Tenant shall pay to Landlord all expenses incurred therefor, including a reasonable attorney's fee.
(g) Tenant hereby expressly waives any and all rights of redemption granted by or under any present or future laws in the event of Tenant being evicted or dispossessed for any cause, or in the event of Landlord obtaining possession of the leased Premises by reason of the violation by Tenant of any of the covenants or conditions of this Lease or otherwise.
(h) The rights and remedies herein shall set forth and granted to landlord shall be cumulative and in addition to any and all other rights and remedies provided an given to Landlord under the laws of the state where the Premises are located. The use of any one or more of the rights and remedies herein enumerated, as otherwise provided for hereunder, shall not be an election of remedies; nor, in such event, shall Landlord be barred or stopped from using or asserting any other or different or concurrent or cumulative right to recover or remedy at the Rent and same or any other amounts payable hereunder as they become due hereunderor different time or place.
Appears in 1 contract
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinTenant's default, Landlord may, without limiting Landlord in the exercise of any other right or remedy that Landlord may have by reason or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: :
(a) perform on Terminate Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention 's right to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value possession of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s right to possessionany lawful means, in which case this Lease shall continue in effect terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such event, Landlord shall be entitled to enforce recover from Tenant:
(1) the worth at the time of the award of any unpaid rent which had been earned at the time of such termination; plus
(2) the worth at the time of the award of the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of such rental loss which Tenant proves could have been reasonably avoided; plus
(3) the worth at the time of the award of the amount by which the unpaid rent for the balance of the term after the time of award exceeds the amount of such rental loss which Tenant proves could be reasonably avoided; plus
(4) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom (including, without limitation, the cost of recovering possession of the Premises, reasonable and necessary expenses of reletting including necessary renovation and alteration of the Premises to make the Premises and/or portions thereof tenantable for general office purposes consistent with the finish of the Premises as improved pursuant to the Work Letter Agreement, reasonable attorneys' fees, and real estate commissions actually paid and that portion of the leasing commission paid by Landlord and applicable to the unexpired portion of this Lease); plus
(5) such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable Colorado law. As used in Subsections (1) and (2) above, the "WORTH AT THE TIME OF THE AWARD" shall be computed by allowing interest at the lesser of ten percent (10%) per annum, or the maximum rate permitted by law per annum. As used in Subsection (3) above, the "WORTH AT THE TIME OF AWARD" shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%).
(b) Continue this Lease in full force and effect, and the Lease will continue in effect, as long as Landlord does not terminate Tenant's right to possession, and Landlord shall have the right to collect rent when due. During the period Tenant is in default, Landlord may enter the Premises and relet them, or any part of them, to third parties for Tenant's account. Tenant shall be liable immediately to Landlord for all costs Landlord reasonably incurs in reletting the Premises, including, without limitation, brokers' commissions, expenses of remodeling the Premises required by the reletting, and like costs. Reletting can be for a period shorter or longer than the remaining term of this Lease (provided, however, in no event shall Tenant be responsible for any cost relating to such reletting after the expiration of the term of this Lease). Tenant shall pay to landlord the rent due under this Lease on the dates the rent is due, less the rent Landlord receives from any reletting. In no event shall Tenant be entitled to any excess rent received by Landlord’s . No act by Landlord allowed by this paragraph shall terminate this Lease unless Landlord notifies Tenant in writing that Landlord elects to terminate this Lease. After Tenant's default and for as long as Landlord does not terminate Tenant's right and remedies under to possession of the Premises, if Tenant obtains Landlord's consent, Tenant shall have the right to assign or sublet its interest in this Lease, include but Tenant shall not be released from liability.
(c) Cause a receiver to be appointed to collect rent. Neither the right filing of a petition for the appointment of a receiver nor the appointment itself shall constitute an election by Landlord to recover terminate the Rent Lease.
(d) Cure the default at Tenant's cost. If Landlord at any time, by reason of Tenant's default, reasonably pays any sum or does any act that requires the payment of any sum, the sum paid by Landlord shall be due immediately from Tenant to Landlord at the time the sum is paid, and if paid at a later date shall bear interest at the lesser of ten percent (10%) per annum, or the maximum rate permitted by law. The sum, together with interest on it, shall be additional rent.
(e) The foregoing remedies are not exclusive; they are cumulative, in addition to any remedies now or later allowed by law, to any equitable remedies Landlord may have, and to any remedies Landlord may have under bankruptcy laws or laws affecting creditors' rights generally. The waiver by Landlord of any breach of any term, covenant or condition of this Lease shall not be deemed a waiver of such term, covenant or condition or of any subsequent breach of the same or any other amounts payable hereunder term, covenant or condition. Acceptance of rent by Landlord subsequent to any breach hereof shall not be deemed a waiver of any proceeding breach other than a failure to pay the particular rent so accepted, regardless of Landlord's knowledge of any breach at the time of such acceptance of rent. Landlord shall not be deemed to have waived any term, covenant or condition unless Landlord gives Tenant written notice of such waiver.
(f) Notwithstanding anything to the contrary contained elsewhere in this Lease, Landlord shall use reasonable efforts to relet the Premises to mitigate its damages under this Section 24; provided, however, that so long as they become Landlord uses such reasonable efforts, Landlord shall in no way be responsible or liable for any failure to relet the Premises, or any part thereof, or any failure to collect any rent due hereunderupon such reletting; and Landlord shall not be required to spend its own funds, to give the Premises priority over or equal priority with any other facilities owned by Landlord or its affiliates or other space available for rent in the Building or to compromise in any way the terms, uses or creditworthiness of a Tenant upon or to which it would customarily lease space such as the Premises; and Landlord shall be entitled, in its sole discretion, to seek a single tenant for the entire Premises, even though it may take a substantially longer period to obtain such a tenant and its efforts may be unsuccessful; and this requirement shall not affect in any way Tenant's obligations to obtain Landlord's consent to a sublease or assignment.
Appears in 1 contract
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default any such material default or breach by Lessee, Lessor may at any time thereafter with or without notice or demand and after the applicable notice and cure period, and subject to terms and conditions provided herein, Landlord may, without limiting Landlord Lessor in the exercise of any other a right or remedy that Landlord which Lessor may have by reason or of such default breach:
a. Terminate Lessee’s right to possession of the Premises by any lawful means, in which case this Lease shall terminate and Lessee shall immediately surrender possession of the Premises to Lessor. In such event Lessor shall be entitled to recover from Lessee all damages incurred by Lessor by reason of Lessee’s default, including but not limited to, the remedies cost of Landlord hereunder being cumulative recovering possession of the Premises; expenses of re-letting, including necessary renovation and not exclusive alteration of one another: the Premises, reasonable attorney’s fees, any real estate commission actually paid; the worth at the time of such award exceeds the amount of such rental loss for the same period that Lessee proves could be reasonably avoided; that portion of the leasing commission paid by Lessor and applicable to the rate of ten percent (10%), or Bank of America prime rate, which ever is higher per annum. In the event Lessee shall have abandoned the Premises, Lessor shall have the option of:
(a) perform on Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value taking possession of the Premises over and recovering from Lessee the remaining portion amount specified in this paragraph; or b) proceeding under the provisions of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenantfollowing Article 24b.
b. Maintain Lessee’s right to possession, in which case this Lease shall continue in effect and Landlord whether or not Lessee shall have abandoned the Premises. In such event Lessor shall be entitled to enforce all of LandlordLessor’s right rights and remedies under this Lease, include Lease including the right to recover the Rent and other amounts payable hereunder rent as they become it becomes due hereunder.
c. Pursue any other remedy now or hereafter available to Lessor under the laws or judicial decision of the State in which the Premises are located.
Appears in 1 contract
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such material default or breach by Tenant, Landlord maymay at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such default or breach:
24.a. Terminate Tenant's right to possession of the Premises by any lawful means, in which case this Lease shall terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such defaultevent Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant's default including, but not limited to, the remedies cost of recovering possession of the Premises; expenses of reletting, including necessary renovation and alteration of the Premises, reasonable attorney's fees, any real estate commission actually paid; the worth at the time of award by the court having jurisdiction thereof of the amount by which the unpaid rent for the balance of the term after the time of such award exceeds the amount of such rental loss for the same period that Tenant proves could be reasonably avoided; that portion of the leasing commission paid by Landlord hereunder being cumulative and not exclusive applicable to the unexpired term of one another: this Lease. Unpaid installments of rent or other sums shall bear interest from the date due at the rate of ten per cent (10%) per annum. In the event Tenant shall have abandoned the Premises, Landlord shall have the option of (a) perform on Tenant’s behalftaking possession of the Premises and recovering from Tenant the amount specified in this paragraph, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) proceeding under the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion provisions of the Term, plus the reasonable cost to Landlord of any repairs required to comply with following Article 24.
24.b. Maintain Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s 's right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises. In such event Landlord shall be entitled to enforce all of Landlord’s right 's rights and remedies under this Lease, include including the right to recover the Rent and other amounts payable hereunder rent as they become it becomes due hereunder.
24.c. Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decision of the State in which the Premises are located.
Appears in 1 contract
Samples: Lease Agreement (Sionix Corp)
REMEDIES IN DEFAULT. On In the occurrence event of a default by Tenant, Landlord, at any time thereafter, may give a written termination notice to Tenant, and on the date specified in such notice (which shall be not less than three (3) days after the giving of such notice), Tenant's right to possession shall terminate and this Lease shall terminate, unless on or before such date all sums identified in such three (3) day notice have been paid by Tenant and all other breaches of this Lease by Tenant at the time existing shall have been fully remedied to the satisfaction of Landlord. If Landlord terminates this Lease pursuant to the provisions of this Section, Landlord shall have all the rights and remedies of a landlord provided by Section 1951.2 of the Tenant Default California Civil Code or any successor code section. Upon such termination, in addition to any other rights and after the remedies to which Landlord may be entitled under applicable notice and cure period, and subject to terms and conditions provided hereinlaw, Landlord may, without limiting Landlord in the exercise of any other right or remedy that Landlord may have by reason or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one anotherrecover from Tenant: (a) perform on Tenant’s behalf, the worth at the time of award of the unpaid rent which had been earned at the time of termination; (b) the worth at the time of award of the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of such rent loss that Tenant proves could have been reasonably avoided; (c) the worth at the time of award of the amount by which the unpaid rent for the balance of the term of this Lease after the time of award exceeds the amount of such rent loss that Tenant proves could be reasonably avoided; and (d) any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention other amount necessary to do so except in the case of emergency), in which event Tenant shall reimburse compensate Landlord for all expenses reasonably incurred the detriment proximately caused by Landlord Tenant's failure to perform its obligations under this Lease or which in doing so, plus the ordinary course of things would be likely to result therefrom. The "worth at the time of award" of the amounts referred to in clauses (a) and (b) above shall be computed by allowing interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to lesser of (i) the sum of all amounts due hereunder to the date of termination; plus twelve percent (12%) per annum, or (ii) the aggregate rent remaining over highest rate permitted by applicable law. The worth at the unexpired portion time of award of the Term, plus the reasonable cost amount referred to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using in clause (c) above shall be computed by discounting such amount at a discount rate equal to the interest discount rate of a governmental security having a mutual closest to the then current expiration Federal Reserve Board of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value San Francisco at the above specified discount rate; time of award plus one percent (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s right to possession, in which case this Lease shall continue in effect and Landlord shall be entitled to enforce all of Landlord’s right and remedies under this Lease, include the right to recover the Rent and other amounts payable hereunder as they become due hereunder1%).
Appears in 1 contract
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such default or breach by Tenant, Landlord maymay at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such default or breach:
A. Terminate Tenant's right to possession of the Premises by any lawful means, in which case this Lease shall terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such defaultevent Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant's default including, but not limited to, the remedies cost of recovering possession of the Premises, expenses of re-letting, including necessary renovation and alteration of the Premises, reasonable attorney's fees and costs, real estate commission actually paid; the worth at the time of award by the court having jurisdiction thereof of the amount by which the unpaid rent for the balance of the term after the time of such award exceeds the amount of such rental loss for the same period that Tenant proves could be reasonably avoided; and that portion of the leasing commission paid by Landlord hereunder being cumulative and not exclusive applicable to the unexpired term of one another: this Lease. Unpaid installments of rent or other sums shall bear interest from the date due at the rate of twelve percent (12%) per annum. In the event Tenant shall have abandoned the Premises, Landlord shall have the option of (a) perform on Tenant’s behalftaking possession of the Premises and recovering from the Tenant the amount specified in this paragraph, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) proceeding under the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion provision of the Term, plus the reasonable cost to Landlord of any repairs required to comply with following Paragraph 26.b.
B. Maintain Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s 's right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises. In such event Landlord shall be entitled to enforce all of Landlord’s right 's rights and remedies under this Lease, include including the right to recover the Rent and other amounts payable hereunder as they become it becomes due hereunder.
Appears in 1 contract
Samples: Office/Warehouse Building Lease (Ableauctions Com Inc)
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such default or breach by Tenant, Landlord maymay at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other right or remedy that which Landlord may have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: breach:
(a) perform on Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Terminate Lease. Terminate Tenant’s right to possessionpossession of the Leased Premises by any lawful means, in which case this Lease shall continue in effect terminate and Tenant shall immediately surrender possession of the Leased Premises to Landlord. In such event Landlord shall be entitled to enforce recover from Tenant all past due rents, and other necessary expenses of renovation and alteration of the Leased Premises and commissions paid in re-letting even if paid to Landlord or any affiliate of Landlord’s right ; reasonable attorneys’ fees; the worth at the time of award by the court having jurisdiction thereof of the amount by which the unpaid rent, Additional Rent, and remedies under other charges called for herein for the balance of the Lease Term after the time of such award exceeds the amount of such loss for the same period that Tenant proves could be reasonably avoided; and that portion of any leasing commission paid by Landlord and applicable to the unexpired Lease Term of this Lease. Unpaid installments of rent or other sums shall bear interest from the date due at the Default Rate on the first day of each month, include commencing on the right to recover date due through the Rent and other amounts payable hereunder as they become due hereunder.date of payment; or
Appears in 1 contract
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such default or breach by Tenant, Landlord may, at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other right or remedy that which Landlord may have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: breach:
(a) perform on Terminate Tenant’s behalf, 's right to possession of the Premises by any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)unlawful means, in which case this Lease shall terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such event Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant's default, including, but not limited to, the cost of recovering possession of the Premises; expenses of reletting, including necessary renovation and alteration of the Premises, reasonable attorney's fees, and any real estate commission actually paid; the worth at the time of award by the court having jurisdiction thereof of the amount by which the unpaid rent for the balance of the term after the time of such award exceeds the amount of such rental loss for the same period that Tenant proves could be reasonably avoided; and that portion of the leasing commission paid by Landlord applicable to the unexpired term of this Lease. Unpaid installments of rent or other sums shall bear interest from the date due at the rate of ten (10%) per annum. In the event Tenant shall reimburse have abandoned the Premises, Landlord for all expenses reasonably incurred by Landlord shall have the option of (i) retaking possession of the Premises and recovering from Tenant the amount specified in doing sothis Article 14.2(a), plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or or (ii) proceeding under Article 14.2(b).
(b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Maintain Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s 's right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises. In such event, Landlord shall be entitled to enforce all of Landlord’s right 's rights and remedies under this Lease, include including the right to recover the Rent and other amounts payable hereunder rent as they become it becomes due hereunder.
(c) Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decisions of the State in which the Premises are located.
Appears in 1 contract
Samples: Industrial Lease (Larscom Inc)
REMEDIES IN DEFAULT. On the occurrence Time is of the Tenant Default essence hereof. If any rents above reserved, or any part thereof, shall be arid remain unpaid when the same shall become due, or if Lessee shall violate or default in any of the covenants and after agreements herein contained then the applicable Lessor may terminate this lease upon giving the notice and cure periodrequired by law, and subject reenter said premises, but not withstanding such reentry by the Lessor, the liability of the Lessee for the rent provided for herein shall not be extinguished for balance of the term of this lease, and Lessee covenants and agrees to terms make good to Lessor any deficiency arising from a reentry and conditions provided herein, Landlord may, without limiting Landlord reletting of the premises at a lessor rental than hereby agreed to. The Lessee shall pay such deficiency each month as the amount thereof is ascertained by the Lessor. Lessee shall pay to Lessor in the exercise event of any other right or remedy that Landlord may have by reason or such defaultreletting, as soon as ascertained, the remedies of Landlord hereunder being cumulative and not exclusive of one another: (a) perform on Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred by Lessor in such reletting including without limitation advertising costs, prorated share of real estate commissions, completion of construction and tenant improvements necessary for the enforcement hereof including reasonable attorneys fees new lessee or in making such alterations and repairs as herein providedto put the premises in as good a leasable condition as when Lessee entered this Lease. Lessor shall have the right, at Lessor's option, to suspend or (c) maintain Tenant’s right to possession, discontinue any services or obligations otherwise required of Lessor in which case this Lease shall continue in effect and Landlord shall be entitled to enforce all of Landlord’s right and remedies under this Lease, include during the right continuance of any default or breach and such suspension or discontinuance shall not be deemed or construed to recover be an eviction or ejection of Lessee. No receipt of money by the Rent Lessor from the Lessee after the termination of the lease in any way, or after giving of any notice, shall reinstate, continue or extend the term of this lease or affect any notice given to the Lessee prior to receipt of such money. The foregoing remedy of the Lessor shall not be exclusive, but shall be cumulative and other amounts payable hereunder as they become due hereunderin addition to all remedies now or hereafter allowed by law or elsewhere provided.
Appears in 1 contract
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such default or breach by Tenant, Landlord maymay at any time thereafter, in his sole discretion with or without notice or demand and without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: breach:
(a) perform on Terminate Tenant’s behalf, right to possession of the Premises by any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)lawful means, in which event case this Lease shall terminate and Tenant shall reimburse immediately surrender possession o f the Premises to Landlord. In such event Landlord for shall be entitled to recover from Tenant all expenses reasonably damages incurred by Landlord in doing soby reason of Tenant’s default, plus interest including, but not limited to, the cost of recovering possession of the Premises; expenses of reletting, including necessary renovation and alteration of the Premises; reasonable attorneys’ fees; the worth at the Default Rate, time of award by the court having jurisdiction thereof of the amount by which expenses and interest shall be additional the unpaid rent and other charges and adjustments called for herein for the balance of the Lease Term after the time of such award exceeds the amount of such loss for the same period that Tenant proves could be reasonably avoided; and that portion of any leasing commission paid by Landlord and applicable to the unexpired Lease Term. Unpaid installments of rent or other sums shall be payable by Tenant immediately on demand therefore by Landlord; and/or bear interest form the date due at the maximum legal rate.
(b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Maintain Tenant’s right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises. In such event, Landlord shall be entitled to enforce all of Landlord’s right rights and remedies under this Lease, include including the right to recover the Rent rent, and any other amounts payable hereunder charges and adjustments as they may become due hereunder.
(c) Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decisions of the State in which Premises are located.
Appears in 1 contract
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany such material default or breach by Tenant, Landlord maymay at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such default or breach:
(a) Terminate Txxxxx’s right to possession of the Premises by any lawful means, in which case this Lease shall terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such event Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Txxxxx’s default including, (i) the worth at the time of the award of all unpaid rent, including without limitation basic rent, and other charges including Operating Expense Adjustments which have been earned at the time of the termination; (ii) the worth at the time of the award of the amount by which the unpaid basic rent and other charges which would have been earned after termination until the time of the award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; (iii) the worth at the time of the award of the amount by which the unpaid basic rent and other charges which would have been paid for the balance of the term after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Txxxxx’s failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, but not limited to, any cost or expenses incurred by Landlord in maintaining or preserving the Premises after such default, the remedies cost of Landlord hereunder being cumulative and not exclusive recovering possession of one another: (a) perform on Tenant’s behalfthe Premises, any unperformed covenant expenses of reletting, including necessary repair or obligation hereunder constituting such Tenant Default (after giving Tenant written notice restoration of the Premises, Landlord’s intention to do so except reasonable attorneys’ fees incurred in connection therewith, and any real estate commissions. As used in subparts (i) and (ii) above, the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest “worth at the Default Ratetime of the award” is computed by allowing interest on unpaid amounts at ten percent (10%) per annum. As used in subpart (iii) above, which expenses and interest shall be additional rent and shall be payable the “worth at the time of the award” is computed by Tenant immediately on demand therefore by Landlord; and/or discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of the award plus one percent (1%) per annum.
(b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Maintain Tenant’s right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises. In such event Landlord shall be entitled to enforce all of Landlord’s right rights and remedies under this Lease, include including the right to recover the Rent and other amounts payable hereunder rent as they become it becomes due hereunder.
(c) Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decision of the State in which the Premises are located.
Appears in 1 contract
Samples: Office Building Lease (Southwest Community Bancorp)
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany default or breach by Tenant, Landlord maymay at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such default or breach:
a. Terminate Tenant's right to possession of the Premises by any lawful means in which case this Lease shall terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such defaultevent Landlord stall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant's default including, but not limited to, the remedies cost of recovering possession of the Premises; expenses of reletting, including necessary renovation and alteration of the Premises; reasonable attorneys' fees and costs; any real estate commissions and costs actually paid; the unpaid rent for the balance of the term of the Lease or for the time the Premises are vacant, whichever is shorter; that portion of the leasing commission paid by Landlord hereunder being cumulative and not exclusive applicable to the unexpired term of one another: (a) perform on Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in this Lease. In the case of emergency), in which event Tenant shall reimburse have abandoned the Premises, Landlord for all expenses reasonably incurred by Landlord shall have the option of (i) taking possession of the Premises and recovering from Tenant the amount specified in doing sothis Article, plus interest at or (ii) proceeding under the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or provisions of subparagraph (b) terminate of this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Article.
b. Maintain Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s 's right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises. In such event Landlord shall be entitled to enforce all of Landlord’s right 's rights and remedies under this Lease, include including the right to recover the Rent and other amounts payable hereunder rent as they become it becomes due hereunder.
c. Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decisions of the state in which the Premises are located.
Appears in 1 contract
Samples: Lease Agreement (Synon Corp)
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinTenant's default, Landlord may, without limiting Landlord in the exercise of any other right or remedy that Landlord may have by reason or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: :
(a) perform on Terminate Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention 's right to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value possession of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s right to possessionany lawful means, in which case this Lease shall continue in effect terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such event, Landlord shall be entitled to enforce recover from Tenant:
(1) the worth at the time of the award of any unpaid rent which had been earned at the time of such termination; plus
(2) the worth at the time of the award of the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of such rental loss which Tenant proves could have been reasonably avoided; plus
(3) the worth at the time of the award of the amount by which the unpaid rent for the balance of the term after the time of award exceeds the amount of such rental loss which Tenant proves could be reasonably avoided; plus
(4) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom (including, without limitation, the cost of recovering possession of the Premises, reasonable and necessary expenses of reletting including necessary renovation and alteration of the Premises to make the Premises and/or portions thereof tenantable for general office purposes consistent with the finish of the Premises as improved pursuant to the Work Letter Agreement, reasonable attorneys' fees, and real estate commissions actually paid and that portion of the leasing commission paid by Landlord and applicable to the unexpired portion of this Lease); plus
(5) such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable Colorado law. As used in Subsections (1) and (2) above, the "WORTH AT THE TIME OF THE AWARD" shall be computed by allowing interest at the lesser of ten percent (10%) per annum, or the maximum rate permitted by law per annum. As used in Subsection (3) above, the "WORTH AT THE TIME OF AWARD" shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%).
(b) Continue this Lease in full force and effect, and the Lease will continue in effect, as long as Landlord does not terminate Tenant's right to possession, and Landlord shall have the right to collect rent when due. During the period Tenant is in default, Landlord may enter the Premises and relet them, or any part of them, to third parties for Tenant's account. Tenant shall be liable immediately to Landlord for all costs Landlord reasonably incurs in reletting the Premises, including, without limitation, brokers' commissions, expenses of remodeling the Premises required by the reletting, and like costs. Reletting can be for a period shorter or longer than the remaining term of this Lease (provided, however, in no event shall Tenant be responsible for any cost relating to such reletting after the expiration of the term of this Lease). Tenant shall pay to landlord the rent due under this Lease on the dates the rent is due, less the rent Landlord receives from any reletting. In no event shall Tenant be entitled to any excess rent received by Landlord’s . No act by Landlord allowed by this paragraph shall terminate this Lease unless Landlord notifies Tenant in writing that Landlord elects to terminate this Lease. After Tenant's default and for as long as Landlord does not terminate Tenant's right and remedies under to possession of the Premises, if Tenant obtains Landlord's consent, Tenant shall have the right to assign or sublet its interest in this Lease, include but Tenant shall not be released from liability.
(c) Cause a receiver to be appointed to collect rent. Neither the right filing of a petition for the appointment of a receiver nor the appointment itself shall constitute an election by Landlord to recover terminate the Rent Lease.
(d) Cure the default at Tenant's cost. If Landlord at any time, by reason of Tenant's default, reasonably pays any sum or does any act that requires the payment of any sum, the sum paid by Landlord shall be due immediately from Tenant to Landlord at the time the sum is paid, and if paid at a later date shall bear interest at the lesser of ten percent (10%) per annum, or the maximum rate permitted by law. The sum, together with interest on it, shall be additional rent.
(e) The foregoing remedies are not exclusive; they are cumulative, in addition to any remedies now or later allowed by law, to any equitable remedies Landlord may have, and to any remedies Landlord may have under bankruptcy laws or laws affecting creditors' rights generally. The waiver by Landlord of any breach of any term, covenant or condition of this Lease shall not be deemed a waiver of such term, covenant or condition or of any subsequent breach of the same or any other amounts payable hereunder as they become due hereunderterm, covenant or condition. Acceptance of rent by Landlord subsequent to any breach hereof shall not be deemed a waiver of any proceeding breach other than a failure to pay the particular rent so accepted, regardless of Landlord's knowledge of any breach at the time of such acceptance of rent. Landlord shall not be deemed to have waived any term, covenant or condition unless Landlord gives Tenant written notice of such waiver.
Appears in 1 contract
REMEDIES IN DEFAULT. On A. In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany default or breach by Tenant, Landlord maymay at any time thereafter, in its sole discretion, with or without notice or demand and without limiting Landlord in the exercise of any other right or remedy that which Landlord may have by reason of such default or such default, breach:
(i) Terminate Xxxxxx’s right to possession of the remedies of Landlord hereunder being cumulative and not exclusive of one another: (a) perform on Tenant’s behalf, Leased Premises by any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)lawful means, in which event case this Lease shall terminate and Tenant shall reimburse immediately surrender possession of the Leased Premises to Landlord. In such event Landlord for shall be entitled to recover from Tenant all expenses reasonably incurred by Landlord in doing soby reason of Tenant’s default including, plus interest but not limited to: the cost of recovering possession of the Leased Premises, cleaning and repairs to the Leased Premises necessitated by Xxxxxx’s tenancy, expenses of reletting, including necessary renovation and alteration of the Leased Premises, the worth at the Default Rate, time of award by the court having jurisdiction thereof of the amount by which expenses the unpaid base rental for the balance of the Lease Term after the time of such award exceeds the amount of such loss for the same period that Tenant proves could be reasonably avoided; and interest shall be additional rent that portion of any leasing commission paid by Xxxxxxxx and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder applicable to the unexpired term of this Lease; and reasonable attorney’s fees and court costs. Unpaid installments of rent or other sums due under this Article shall bear interest from the date due at fifteen (15%) percent or the maximum legal rate at the option of termination; plus Landlord.
(ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Maintain Tenant’s right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Leased Premises. In such event Landlord shall be entitled to enforce all of Landlord’s right rights and remedies under this Lease, include including the right to recover the Rent minimum base rent and any other amounts payable hereunder charges as they may become due hereunder; or
(iii) To maintain an action for specific performance by Tenant of the lease terms and provisions, whether or not Tenant has taken possession of the Leased Premises; or
(iv) Pursue any other remedy now or hereafter available to Landlord under the laws or judicial decisions of the State of [STATE].
Appears in 1 contract
Samples: Lease Agreement
REMEDIES IN DEFAULT. On the occurrence If an Event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinoccurs, Landlord may, without limiting Landlord in the exercise of any other right or remedy that Landlord may have by reason or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: :
(aA) perform on Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)Terminate this Lease, in which event Tenant shall reimburse immediately surrender possession of the Premises to Landlord.
(B) Terminate Tenant’s right to possession of the Premises without terminating this Lease, in which event this Lease will continue in effect and Landlord shall have the right to collect Rent when due. Landlord may relet the Premises for the benefit of Tenant, and Tenant shall be liable immediately to Landlord for all costs Landlord incurs in reletting the Premises, including without limitation, reasonable attorneys fees, brokers” commissions, expenses reasonably incurred of remodeling the Premises and like costs. Reletting can be for a period shorter or longer than the remaining Lease term. Tenant shall pay to Landlord the Rent under this Lease on the dates the same is due, less any Rent the Landlord receives from any reletting. Tenant shall have no right to any rent received by Landlord from such reletting in doing so, plus interest at excess of the Default Rate, which expenses and interest Rent hereunder. No act by Landlord with respect to the Premises shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal Lease, including but not limited to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion acceptance of the Termkeys, plus the reasonable cost institution of an action for detainer or other dispossesses proceedings; it being understood that this Lease may only be terminated by express written notice from Landlord to Landlord of Tenant, and any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value reletting of the Premises over shall be presumed to be for and on behalf of Tenant, and not Landlord, unless Landlord expressly provides otherwise in writing to Tenant.
(C) In addition to Landlord’s rights of self-help set forth elsewhere in this Lease, if Tenant at any time fails to perform any of its obligations under this Lease in a manner reasonably satisfactory to Landlord, Landlord shall have the remaining portion right, but not the obligation, to perform such obligations on behalf of and for the Term (providedaccount of Tenant and to take all such action to perform such obligations. In such event, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees therein shall be paid for by Tenant forthwith as herein providedAdditional Rent, or upon demand therefore.
(cD) maintain Tenant’s right In any action to possessionenforce its rights hereunder, in which case this Lease shall continue in effect and Landlord shall be entitled to enforce collect court costs, reasonable attorneys fees and all costs of collection, including but not limited to costs of depositions and expert witnesses.
(E) A termination of this Lease by Landlord or the recovery of possession of the Premises by Landlord or any voluntary or other surrender of this Lease by Tenant or a mutual cancellation thereof, shall not work a merger and shall at the option of Landlord, terminate all or any existing franchises or concessions, licenses, permits, Leases, subtenancies or the like between Tenant and any third party with respect to the Premises, or may, at the option of Landlord, operate as an assignment to Landlord of Tenant’s right interest in same.
(F) The rights given to Landlord in this Section are cumulative and shall be in addition and supplemental to all other rights or remedies that Landlord may have under this Lease, include under laws then in force or in equity.
(G) All demands for rent and all other demands, notices and entries, whether provided for under common law or otherwise, that are not expressly required by the right to recover the Rent and other amounts payable hereunder as they become due hereunderterms hereof, are hereby waived by Tenant.
Appears in 1 contract
REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default and after the applicable notice and cure period, and subject to terms and conditions provided hereinany default or breach by Tenant, Landlord maymay at any time thereafter, in its sole discretion, with or without notice or demand and without limiting Landlord in the exercise of any other a right or remedy that which Landlord may have by reason of such default or such default, breach:
(i) Terminate Tenant's right to possession of the remedies of Landlord hereunder being cumulative and not exclusive of one another: (a) perform on Tenant’s behalf, Premises by any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency)lawful means, in which event case this Lease shall terminate and Tenant shall reimburse immediately surrender possession of the Premises to Landlord. In such event, Landlord for shall be entitled to recover from Tenant all expenses reasonably damages incurred by Landlord in doing soby reason of Tenant's default including, plus interest at but not limited to, the Default Ratecost of recovering possession of the Premises; expenses of reletting, which expenses including the renovation and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore alteration of the Premises as deemed reasonably necessary by Landlord; and/or (b) terminate this Lease past due Rent; reasonable attorney's fees and collect liquidated damages from Tenant court costs at trial, all appellate levels, and in an amount equal to (i) the sum any bankruptcy, mediation or arbitration proceeding; that portion of all amounts due hereunder any leasing commission paid by Landlord applicable to the date of terminationunexpired Term; plus (ii) and all Rent reserved herein for the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration balance of the Term; less or
(iiiii) the aggregate fair net rental value of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Maintain Tenant’s 's right to possession, in which case this Lease shall continue in effect and whether or not Tenant shall have abandoned the Premises; and, in such event, Landlord shall be entitled to enforce all of Landlord’s right 's rights and remedies under this Lease, include including the right to recover the Rent and other amounts payable hereunder as they may become due hereunderhereunder or to obtain specific performance, injunctive relief or other equitable relief necessary to require Tenant to fulfill all of its obligations and duties set forth herein; or
(iii) Pursue any other remedy now or hereafter available to Landlord at law or in equity.
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Samples: Lease Agreement (TNR Technical Inc)
REMEDIES IN DEFAULT. On 13.2.1 In the occurrence event of the Tenant Default and after the applicable notice and cure perioda default by Tenant, and subject Landlord, in addition to terms and conditions provided herein, Landlord may, without limiting Landlord in the exercise of any other right remedies available to it at law or remedy that Landlord may have by reason or such defaultin equity, the remedies of Landlord hereunder being cumulative including injunction, at its option (with ten (10) days written notice to Tenant and not exclusive of one anotherTenant's failure to cure within said 10 day time period),, may: (a) perform on Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (bi) terminate this Lease and collect liquidated damages Tenant's right to possession of the Premises and recover possession of the Premises and remove all persons therefrom; (ii) have the remedy described in California Civil Code Section 1951.4 (Landlord may continue the Lease in effect after Tenant's breach and abandonment and recover rent as it becomes due, if Tenant has the right to sublet or assign, subject only to reasonable limitations); or (iii) even though it may have re-entered the Premises, thereafter elect to terminate this Lease and all of the rights of Tenant in or to the Premises.
13.2.2 Tenant's right to possession shall not be deemed to have been terminated by efforts of Landlord to relet the Premises, by its acts of maintenance or preservation with respect to the Premises, including its entry upon the Premises, appointment of a receiver to protect Landlord's interests hereunder, or by any action, in unlawful detainer or otherwise to obtain possession of the Premises, unless Landlord shall have notified Tenant in writing ten (10) days in advance, that it has so elected to terminate this Lease. Tenant covenants that the service by Landlord of any notice pursuant to the unlawful detainer statutes of the State of California and the surrender of possession pursuant to such notice shall not be deemed to be a termination of this Lease, unless otherwise expressly stated in such notice served by Landlord upon Tenant. In the event of any entry or taking possession of the Premises as aforesaid, Landlord shall have the right, but not the obligation, to: (i) remove therefrom all or any part of the personal property located therein and place the same in storage at the expense and risk of Tenant and/or (ii) erect a barricade and partition the Premises at the expense of Tenant.
13.2.3 Should Landlord elect to terminate this Lease pursuant to the provisions of Section 13.2.1(i) or 13.2.1(iii) above, Landlord may recover from Tenant in an amount equal to as damages, the following: (i) the sum worth at the time of all amounts due hereunder to the date award of any unpaid rent and other charges which had been earned at the time of termination; plus (ii) the aggregate rent remaining over worth at the unexpired portion time of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration award of the Termamount by which the unpaid rent and other charges which would have been earned after termination until the time of the award exceeds the amount of the loss of such rent and other charges that Tenant proves could have been reasonably avoided; less plus (iii) the aggregate fair net rental value worth at the time of the Premises over the remaining portion award of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period amount by which the Premises would not be leased unpaid rent and therefore no income would be realized other charges for the balance of the Lease Term after the time of the award exceeds the amount of the loss of such period) reduced to present value at the above specified discount raterent and other charges that Tenant proves could have been reasonably avoided; plus (iv) Landlord’s costs and expenses incurred any other amount necessary to compensate Landlord for all of the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or which in the enforcement hereof including reasonable attorneys fees as herein providedordinary course of things would be likely to result therefrom.
13.2.4 As used in Section 13.2.3(i) and 13.2.3(ii) above, or (c) maintain Tenant’s right to possession, in which case this Lease shall continue in effect and Landlord the "worth at the time of the award" shall be entitled to enforce all computed by allowing interest at the interest rate specified in Article 27. As used in Section 13.2.3(iii) above, the "worth at the time of Landlord’s right and remedies under this Leasethe award" shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award, include the right to recover the Rent and other amounts payable hereunder as they become due hereunderplus one percent (1%).
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REMEDIES IN DEFAULT. On In the occurrence event of the Tenant Default any such material default or ------------------- breach by Lessee, Lessor may at any time thereafter, with or without notice or demand and after the applicable notice and cure period, and subject to terms and conditions provided herein, Landlord may, without limiting Landlord Lessor in the exercise of any other a right or remedy that Landlord which Lessor may have by reason of such default or such default, the remedies of Landlord hereunder being cumulative and not exclusive of one another: breach:
(a) perform on Tenant’s behalf, any unperformed covenant or obligation hereunder constituting such Tenant Default (after giving Tenant written notice of Landlord’s intention Terminate Lessee's right to do so except in the case of emergency), in which event Tenant shall reimburse Landlord for all expenses reasonably incurred by Landlord in doing so, plus interest at the Default Rate, which expenses and interest shall be additional rent and shall be payable by Tenant immediately on demand therefore by Landlord; and/or (b) terminate this Lease and collect liquidated damages from Tenant in an amount equal to (i) the sum of all amounts due hereunder to the date of termination; plus (ii) the aggregate rent remaining over the unexpired portion of the Term, plus the reasonable cost to Landlord of any repairs required to comply with Tenant’s obligations, all reduced to present value using a discount rate equal to the interest rate of a governmental security having a mutual closest to the then current expiration of the Term; less (iii) the aggregate fair net rental value possession of the Premises over the remaining portion of the Term (provided, however, a reasonable period of time, not to exceed twenty four (24) months, may be considered as a leasing period by which the Premises would not be leased and therefore no income would be realized for such period) reduced to present value at the above specified discount rate; plus (iv) Landlord’s costs and expenses incurred in the enforcement hereof including reasonable attorneys fees as herein provided, or (c) maintain Tenant’s right to possessionany lawful means, in which case this Lease shall continue in effect immediately surrender possession of the Premises to Lessor and Landlord Lessor may reenter and occupy the Premises. Reentry and taking of possession pursuant to this paragraph shall not be entitled construed as an election to enforce all terminate the Lease unless a written notice of Landlord’s right and remedies under this Leaseintention to so terminate is provided to Lessee by Lessor. Upon such reentry, include Lessor shall have the right to recover relet all or any part of the Premises for any such term or terms and conditions as Lessor in its sole discretion may deem advisable with the right to complete construction of or make alterations and repairs to the Premises. Lessee shall pay to Lessor in the event of such reletting, as soon as ascertained, the costs and expenses incurred by Lessor in such reletting, completion of construction or in making such alterations and repairs. Rentals received by Lessor from such reletting shall be applied: first to the payment of any indebtedness, other than Rent, due hereunder from Lessee to Lessor, including costs of renovation and alteration of the Premises, reasonable attorney fees and real estate commissions paid; second, to the payment of Rent due and other amounts payable hereunder to any other payments required to be made by Lessee hereunder; and the residue, if any, shall be held by Lessor in payment of future Rent or damages as they the same may become due and payable hereunder; and the balance, if overdue amount), plus any attorneys' fees incurred by Lessor by any, at the end of the Lease Term shall be retained by Lessor as agreed upon compensation for its efforts in mitigating damages for Lessee. Should such rentals received from time to time from such reletting during any month be a lesser rental than herein agreed to by Lessee, Lessee shall pay such deficiency to Lessor. Lessee shall pay such deficiency each month as the amount thereof is ascertained by Lessor.
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