Common use of REMEDIES IN THE EVENT OF DEFAULT Clause in Contracts

REMEDIES IN THE EVENT OF DEFAULT. In the event of a default by Lessee, during the term hereof, Lessor may, at Lessor’s option: A. Retain deposit as liquidated damages; B. Retain the full rental fee; C. Collect a late payment fee of 10% per week or any part thereof that rental is past-due plus interest at ten and one-quarter percent (10.25%) or the highest rate allowed by law whichever is less; D. Accelerate all rental fees causing all rental fees to become immediately due and payable; or E. Declare this Agreement thereupon terminated. No delay in or failure to exercise any of the options herein granted to Lessor by reason of a default shall be a waiver thereof, and the waiver on one occasion of a default shall not be deemed a waiver of Lessor’s right to exercise its remedies by reason of the same or a similar default at any later occasion. All rights and remedies under this Agreement are cumulative, and the exercise by Lessor of one remedy shall not preclude the exercise of any other remedy at law, equity, or under the terms of this Agreement.

REMEDIES IN THE EVENT OF DEFAULT. In the event of a default by LesseeXxxxxx, during the term hereof, Lessor may, at Lessor’s option: A. Retain deposit as liquidated damages; B. Retain the full rental fee; C. Collect a late payment fee of 10% per week or any part thereof that rental is past-due plus interest at ten and one-quarter percent (10.25%) or the highest rate allowed by law whichever is less; D. Accelerate all rental fees causing all rental fees to become immediately due and payable; or E. Declare this Agreement thereupon terminated. No delay in or failure to exercise any of the options herein granted to Lessor by reason of a default shall be a waiver thereof, and the waiver on one occasion of a default shall not be deemed a waiver of Lessor’s right to exercise its remedies by reason of the same or a similar default at any later occasion. All rights and remedies under this Agreement are cumulative, and the exercise by Lessor of one remedy shall not preclude the exercise of any other remedy at law, equity, or under the terms of this Agreement.