Common use of Remedies in Event of Default Clause in Contracts

Remedies in Event of Default. Tenant shall be in default hereunder in the event (a) Tenant fails to make the payment of any installment of rent or other sum when due hereunder (“Monetary Default”), and Tenant shall fail to remedy such Monetary Default within ten (10) days after written notice to do so, or (b) of any other default by Tenant under this Lease (“Non-Monetary Default”), and in the event that Tenant shall fail to remedy such Non-Monetary Default within thirty (30) days after written notice from Landlord so to do specifying the nature of such Non-Monetary default, or if such Non-Monetary Default cannot be cured within thirty (30) days, Tenant has not commenced corrective action and prosecuted the same to completion with due diligence, or in the event that the Non-Monetary Default is of such a nature that it cannot be cured by any action of Tenant, then, in addition to any other remedy Landlord may have by operation of law, Landlord shall have the right but not the obligation without any further demand or notice to reenter the Leased Premises and eject all persons from the Leased Premises, using due process of law, and either: 14.1. Immediately terminate Xxxxxx's right to possession of the Premises, and repossess the same by summary proceedings or other appropriate action, and Landlord shall thereupon be entitled to receive from Tenant all damages specified in California Civil Code Section 1951.2(a), including, without limitation, the right to receive 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 for the same period that Tenant proves could be reasonably avoided; all of which damages to the extent specified in Section 1951.2(b) shall be computed by allowing interest at the maximum rate permitted by law. Landlord shall also have the right, but no duty, to cure any default of Tenant under the terms of any mortgage on the estate of Tenant. 14.2. Without terminating this Lease or the Tenant's right to possession, relet the Leased Premises or any part of the Leased Premises as the agent and for the account of Tenant upon such reasonable terms and conditions as Landlord may deem advisable, in which event the rents received on such reletting and collection shall be applied, first, to the reasonable expenses of such reletting and collection, including necessary renovation and alterations of the Leased Premises, reasonable attorneys' fees, and real estate commissions paid, and thereafter, to payment of all sums due or to become due to Landlord under this Lease. If a sufficient sum shall not be thus realized by Landlord, Tenant shall pay Landlord any deficiency, and Landlord may bring an action therefor as such deficiency shall arise. Notwithstanding the foregoing, if Tenant fails to provide necessary repair and maintenance of the Premises and all improvements thereon, Landlord shall have the right but not the obligation, after notice provided for above, and failure of Tenant to cure or commence and diligently pursue a cure to such default, to enter the Premises and take all corrective action necessary in the sole judgment of Landlord. Any such entry shall be at the sole risk and expense of Tenant. Tenant shall immediately, upon presentation of a statement therefor, reimburse Landlord for all costs incurred by Landlord in taking such corrective action with interest on said sums from the date of payment by Landlord at the lower of: (A) the highest rate allowed by law; or (B) two points over the prime rate charged from time to time by the Bank of America, or if the Bank of America no longer exists, an equivalent institution. Nothing in this Section shall: (i) require Landlord to take any corrective action on the Premises; (ii) diminish the rights and remedies of Landlord under this Lease, whether or not Landlord elects to take such corrective action; and

Remedies in Event of Default. Tenant shall be in Upon any default hereunder of Tenant, and in the event (a) the said default is due to the failure of Tenant fails to make the payment of any installment of rent or other sum when due hereunder (“Monetary Default”)due, and in the event Tenant shall fail to remedy such Monetary Default default within ten (10) days after written notice to do so, or (b) of upon any other default by Tenant under this Lease (“Non-Monetary Default”)Tenant, and in the event that Tenant shall fail to remedy such Non-Monetary Default other default within thirty (30) days after written notice from Landlord so to do specifying the nature of such Non-Monetary default, or if such Non-Monetary Default default cannot be cured within thirty (30) days, Tenant has not commenced corrective action and prosecuted the same to completion with due diligence, or in the event that the Non-Monetary Default default is of such a nature that it cannot be cured by any action of Tenant, thenthen and in any of these events, in addition to any other remedy Landlord may have by operation of law, Landlord shall have the right but not the obligation without any further demand or notice to reenter the Leased Premises and eject all persons from the Leased Premises, using due process of law, and either: 14.1. Immediately terminate Xxxxxx's right to possession of the Premises, and repossess the same by summary proceedings or other appropriate action, and Landlord shall thereupon be entitled to receive from Tenant all damages specified in California Civil Code Section 1951.2(a), including, without limitation, the right to receive 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 for the same period that Tenant proves could be reasonably avoided; all of which damages to the extent specified in Section 1951.2(b) shall be computed by allowing interest at the maximum rate permitted by law. Landlord shall also have the right, but no duty, to cure any default of Tenant under the terms of any mortgage on the estate of Tenant. 14.2. Without terminating this Lease or the Tenant's right to possession, relet the Leased Premises or any part of the Leased Premises as the agent and for the account of Tenant upon such reasonable terms and conditions as Landlord may deem advisable, in which event the rents received on such reletting and collection shall be applied, first, applied first to the reasonable expenses of such reletting and collection, including necessary renovation and alterations of the Leased Premises, reasonable attorneys' fees, and any real estate commissions paid, and thereafter, thereafter to payment of all sums due or to become due to Landlord under this Lease. If , and if a sufficient sum shall not be thus realized by Landlordthe payment of such sums and other charges, Tenant shall pay Landlord any deficiencydeficiency monthly notwithstanding Landlord may have received rental in excess of the rental stipulated in this Lease in previous or subsequent months, and Landlord may bring an action therefor as such monthly deficiency shall arise. Notwithstanding the foregoing, if If Tenant fails to provide necessary repair and maintenance of the Premises and all improvements thereon, Landlord shall have the right but not the obligationright, after notice provided for above, above and failure of Tenant to cure or commence and diligently pursue a cure to such defaultcure, to enter the Premises and take all corrective action necessary in the sole judgment of Landlord. Any such entry shall be at the sole risk and expense of Tenant. Tenant shall immediately, upon presentation of a statement therefor, reimburse Landlord for all costs incurred by Landlord in taking such corrective action with interest on said sums from the date of payment by Landlord at the lower of: (A) the highest rate allowed by law; or (B) two points over the prime rate charged from time to time by the Bank of America, or if the Bank of America no longer exists, an equivalent institution. Nothing in this Section shall: (i) require Landlord to take any corrective action on the Premises; (ii) diminish the rights and remedies of Landlord under this Lease, whether or not Landlord elects to take such corrective action; and

Remedies in Event of Default. Tenant shall be in Upon any default hereunder of Lessee, and in the event (a) Tenant fails the said default is due to the failure of Lessee to make the payment of any installment of rent or other sum when due hereunder (“Monetary Default”)due, and Tenant in the event Lessee shall fail to remedy such Monetary Default default within ten (10) days after written notice to do so, or (b) of upon any other default by Tenant under this Lease (“Non-Monetary Default”)Lessee, and in the event that Tenant Lessee shall fail to remedy such Non-Monetary Default other default within thirty ten (3010) days after written notice from Landlord City so to do specifying the nature of such Non-Monetary default, or if such Non-Monetary Default default cannot be cured within thirty ten (3010) days, Tenant Lessee has not commenced corrective action and prosecuted the same to completion with due diligence, or in the event that the Non-Monetary Default default is of such a nature that it cannot be cured by any action of TenantLessee, thenthen and in any of these events, in addition to any other remedy Landlord City may have by operation of law, Landlord City shall have the right but not the obligation without any further demand or notice to reenter the Leased Premises and eject all persons from the Leased Premises, using due process of law, and either: 14.1. A. Immediately terminate Xxxxxx's Lessee’s right to possession of the Leased Premises, and repossess the same by summary proceedings or other appropriate action, and Landlord City shall thereupon thereon be entitled to receive from Tenant Lessee all damages specified in California Civil Code Section 1951.2(a), including, including without limitation, the right to receive 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 for the same period that Tenant Lessee proves could be reasonably avoided; all of which damages to the extent specified in Section 1951.2(b) shall be computed by allowing interest at the maximum rate permitted by law. Landlord City shall also have the right, but no duty, to cure any default of Tenant Lessee under the terms of any mortgage on the estate of TenantLessee. 14.2. B. Without terminating this Lease or the TenantLessee's right to possession, relet the Leased Premises or any part of the Leased Premises as the agent and for the account of Tenant Lessee upon such reasonable terms and conditions as Landlord City may deem advisable, in which event the rents received on such reletting re-letting and collection shall be applied, first, applied first to the reasonable expenses of such reletting re-letting and collection, including necessary renovation and alterations of the Leased Premises, reasonable attorneys' fees, and any real estate commissions paid, and thereafter, thereafter to payment of all sums due or to become due to Landlord City under this Lease. If , and if a sufficient sum shall not be thus realized by Landlordthe payment of such sums and other charges, Tenant Lessee shall pay Landlord City any deficiencydeficiency monthly notwithstanding City may have received rental in excess of the rental stipulated in this Lease in previous or subsequent months, and Landlord City may bring an action therefor therefore as such monthly deficiency shall arise. Notwithstanding the foregoing, if Tenant . C. If Lessee fails to provide necessary repair and maintenance of the Leased Premises and all improvements thereon, Landlord City shall have the right but not the obligationright, after notice provided for above, above and failure of Tenant Lessee to cure or commence and diligently pursue a cure to such defaultcure, to enter the Leased Premises and take all corrective action necessary in the sole judgment of LandlordCity. Any such entry shall be at the sole risk and expense of TenantLessee. Tenant Lessee shall immediately, upon presentation of a statement therefortherefore, reimburse Landlord City for all costs incurred by Landlord City in taking such corrective action with interest on said sums from the date of payment by Landlord City at the lower of: (A) the highest rate allowed by law; or (B) two points over the prime rate charged from time to time by the Bank of America, or if the Bank of America no longer exists, an equivalent institution. Nothing in this Section shall: (i) require Landlord City to take any corrective action on the Leased Premises; (ii) diminish the rights and remedies of Landlord City under this Lease, whether or not Landlord City elects to take such corrective action; andand (iii) cause a waiver by City of any of its rights and remedies under this Lease. Any such reentry shall be allowed by Lessee without hindrance, and City shall not be liable in damages for any such reentry, or be guilty of trespass or forcible entry.

Remedies in Event of Default. Tenant shall be in Upon any default hereunder of Lessee, and in the event (a) Tenant fails the said default is due to the failure of Lessee to make the payment of any installment of rent or other sum when due hereunder (“Monetary Default”)due, and Tenant in the event Lessee shall fail to remedy such Monetary Default default within ten (10) days after written notice to do so, or (b) of upon any other default by Tenant under this Lease (“Non-Monetary Default”)Lessee, and in the event that Tenant Lessee shall fail to remedy such Non-Monetary Default other default within thirty ten (3010) days after written notice from Landlord City so to do specifying the nature of such Non-Monetary default, or if such Non-Monetary Default default cannot be cured within thirty ten (3010) days, Tenant Lessee has not commenced corrective action and prosecuted the same to completion with due diligence, or in the event that the Non-Monetary Default default is of such a nature that it cannot be cured by any action of TenantLessee, thenthen and in any of these events, in addition to any other remedy Landlord City may have by operation of law, Landlord City shall have the right but not the obligation without any further demand or notice to reenter the Leased Premises and eject all persons from the Leased Premises, using due process of law, and either: 14.1. A. Immediately terminate Xxxxxx's Lessee’s right to possession of the Leased Premises, and repossess the same by summary proceedings or other appropriate action, and Landlord City shall thereupon thereon be entitled to receive from Tenant Lessee all damages specified in California Civil Code Section 1951.2(a), including, including without limitation, the right to receive 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 for the same period that Tenant Lessee proves could be reasonably avoided; all of which damages to the extent specified in Section 1951.2(b) shall be computed by allowing interest at the maximum rate permitted by law. Landlord City shall also have the right, but no duty, to cure any default of Tenant Lessee under the terms of any mortgage on the estate of TenantLessee. 14.2. B. Without terminating this Lease or the TenantLessee's right to possession, relet the Leased Premises or any part of the Leased Premises as the agent and for the account of Tenant Lessee upon such reasonable terms and conditions as Landlord City may deem advisable, in which event the rents received on such reletting re-letting and collection shall be applied, first, applied first to the reasonable expenses of such reletting re-letting and collection, including necessary renovation and alterations of the Leased Premises, reasonable attorneys' fees, and any real estate commissions paid, and thereafter, thereafter to payment of all sums due or to become due to Landlord City under this Lease. If , and if a sufficient sum shall not be thus realized by Landlordthe payment of such sums and other charges, Tenant Lessee shall pay Landlord City any deficiencydeficiency monthly notwithstanding City may have received rental in excess of the rental stipulated in this Lease in previous or subsequent months, and Landlord City may bring an action therefor therefore as such monthly deficiency shall arise. Notwithstanding the foregoing, if Tenant . C. If Lessee fails to provide necessary repair and maintenance of the Leased Premises and all improvements thereon, Landlord City shall have the right but not the obligationright, after notice provided for above, Airport Restaurant Lease 27 above and failure of Tenant Lessee to cure or commence and diligently pursue a cure to such defaultcure, to enter the Leased Premises and take all corrective action necessary in the sole judgment of LandlordCity. Any such entry shall be at the sole risk and expense of TenantLessee. Tenant Lessee shall immediately, upon presentation of a statement therefortherefore, reimburse Landlord City for all costs incurred by Landlord City in taking such corrective action with interest on said sums from the date of payment by Landlord City at the lower of: (A) the highest rate allowed by law; or (B) two points over the prime rate charged from time to time by the Bank of America, or if the Bank of America no longer exists, an equivalent institution. Nothing in this Section shall: (i) require Landlord City to take any corrective action on the Leased Premises; (ii) diminish the rights and remedies of Landlord City under this Lease, whether or not Landlord City elects to take such corrective action; andand (iii) cause a waiver by City of any of its rights and remedies under this Lease. Any such reentry shall be allowed by Lessee without hindrance, and City shall not be liable in damages for any such reentry, or be guilty of trespass or forcible entry.