Remedies of Landlord. (a) Upon the occurrence of an Event of Default by Xxxxxx, in addition to the remedies described in § 9.3 and any other remedies available to Landlord at law or in equity, Landlord has the right to terminate this Lease upon not less than 60 days prior written notice to Tenant; provided, however, that in the case of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in this Lease. (b) Upon termination of this Lease by Landlord pursuant to this § 9.2, Tenant must pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of Rent remaining in the Term. (c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises for a period that is equal to, shorter, or longer than the Term.
Appears in 5 contracts
Samples: Office Lease, Office Lease, Office Lease
Remedies of Landlord. In case of any such default, re-entry, expiration and/or dispossess by summary proceedings or otherwise, (a) Upon the occurrence of an Event of Default by Xxxxxx, in addition Minimum Annual rent and Additional rent shall become due thereupon and be paid up to the remedies described time of such re-entry, dispossess and/or expiration, together with such expenses as Landlord may incur for counsel fees, brokerage commissions and/or putting the Premises in § 9.3 good order, or for repairs or clean-up of the Premises; (b) Landlord may re-let the Premises or any part or parts thereof, either in the name of Landlord or otherwise, for a term or terms, which may at Landlord's option be less than or exceed the period which would have otherwise constituted the balance of the Term; and/or (c) Tenant or the legal representatives of Tenant shall also pay Landlord any deficiency between (i) the rent hereby reserved and/or covenanted to be paid, and (ii) the net amount if any of the rents collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term. There shall be added to such deficiency such reasonable expenses as Landlord may incur in connection with re-letting of the Premises, including without limitation, counsel fees, brokerage commissions and expenses incurred in maintaining the Premises in good order and in connection with renovating and preparing the same for re-letting. Any such rent deficiency shall be paid in monthly installments by Tenant on the rent due date specified in this Lease Agreement, and any other remedies available suit brought to collect the amount of the deficiency for any month shall not prejudice in any way the rights of Landlord to collect the deficiency for any subsequent month or months by a similar proceeding. Landlord, at its option, may make such alterations, repairs, replacements and/or decorations as Landlord considers advisable for the purpose of re-letting the Premises; and the making of such alterations and/or decorations shall not operate or be construed to release Tenant from liability hereunder as aforesaid. In the event of a breach by Tenant of any of the covenants or provisions hereof, Landlord shall have the right of injunction and the right to invoke any remedy allowed at law or in equity, Landlord has the right to terminate as if re-entry, summary proceedings or other remedies were not herein provided for. Mention in this Lease upon Agreement of any particular remedy shall not less than 60 days prior written notice to Tenant; providedpreclude Landlord from any other remedy, however, that in the case of a non-monetary Event of Default by Tenant that poses an immediate threat to the health law or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in this Leaseequity.
(b) Upon termination of this Lease by Landlord pursuant to this § 9.2, Tenant must pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises for a period that is equal to, shorter, or longer than the Term.
Appears in 3 contracts
Samples: Lease Agreement (Sun Hill Industries Inc), Lease Agreement (Sun Hill Industries Inc), Lease Agreement (Sun Hill Industries Inc)
Remedies of Landlord. (a) Upon the occurrence of an Event any event of Default by Xxxxxxdefault set forth in Paragraph 15.01, Landlord shall have the following rights and remedies, in addition to the remedies described in § 9.3 and any other remedies available to Landlord at those allowed by law or in equity, any one or more of which may be exercised without further notice to or demand upon Tenant:
A. Landlord has may apply the right security deposit and/or re-enter the Premises and cure any default of Tenant, in which event Tenant shall, upon demand, reimburse Landlord as Additional Rent for any reasonable costs and expenses which Landlord may incur to cure such default; and Landlord shall not be liable to Tenant for any loss or damage which Tenant may sustain by reason of Landlord’s action. In the event Landlord should consult with or employ the services of legal counsel or bring suit against Tenant for any default or enforcement of any terms of this Lease, Tenant shall be liable for all such reasonable attorney’s fees and litigation costs incurred by Landlord and the same shall be recoverable against Tenant in addition to all other amounts that Landlord may recover.
B. Landlord may terminate this Lease upon not less than 60 days prior written notice to Tenant; provided, however, that in as of the case date of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten dayssuch default. Upon such termination, this Lease comes to an end as fully and completely as if Tenant or any party leasing the Expiration Date stated in such notice were the Expiration Date originally fixedPremises through Tenant, and Xxxxxx must then quit and shall immediately surrender the Premises to Landlord. Landlord as provided in § 6.7may re-enter the Premises and dispossess Tenant or any other occupants of the Premises by force, but Xxxxxx remains liable for damages arising out of such Event of Defaultsummary proceedings, as provided in this Lease.
(b) Upon termination of this Lease by Landlord pursuant to this § 9.2, Tenant must pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Dateejectment or otherwise, and Xxxxxx remains liable may remove their effects, without prejudice to any other remedy which Landlord may have for any breach of Tenant’s obligations under this Lease occurring before the Expiration Datepossession or arrearage in rent. In addition, Tenant is liable to pay LandlordLandlord may accelerate and declare all past, as damages, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, present and at the same time as if future rent payments under this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, immediately due and payable. Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs may re-let all or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting part of the Premises that are allocable to another party on terms and conditions which may vary from the Termterms of this Lease. In no event is Tenant entitled shall be obligated to receive any excess of such net rents over the sums that Tenant must pay to Landlord under the difference between the rent provided for in any such subsequent lease and the rent provided for in this Lease. If No matter which remedy Landlord terminates this Lease chooses, in its sole discretion, Tenant shall be liable for all costs and expenses caused by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Tenant’s default and Landlord’s damagesre-entry and re-letting, including making reasonable efforts to relet the Premises for a period that is equal but not limited to, shorterall repairs, or longer than the Termimprovements, broker’s fees and court costs and reasonable attorney’s fees.
Appears in 3 contracts
Samples: Office Lease Agreement (Apellis Pharmaceuticals, Inc.), Office Lease Agreement (Apellis Pharmaceuticals, Inc.), Office Lease Agreement (Apellis Pharmaceuticals, Inc.)
Remedies of Landlord. (a) Upon the occurrence of an Event of Default by Xxxxxx, in addition to the remedies described in § 9.3 and any other remedies available to Landlord at law or in equity, Landlord has the right to terminate this Lease upon not less than 60 days prior written notice to Tenant; provided, however, that in the case of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided Landlord may, at Landlord's option and in this Lease.addition to all other rights, remedies and recourse afforded Landlord hereunder or by law or equity, do any one or more of the following:
(ba) Upon termination of At Landlord's option and without waiving any default by Tenant, Landlord shall have the right to continue this Lease by Landlord pursuant in full force and effect and to this § 9.2collect all Monthly Base Rent, Tenant must pay Additional Rent, and any other amounts to Landlord Rent payable be paid by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Dateas and when due. In addition, During any period that Tenant is liable in default, Landlord shall have the right, pursuant to pay Landlord, as damages, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same mannerlegal proceedings or pursuant to any notice provided for by law, to enter and take possession of the same extentPremises, without terminating this Lease, for the purpose of reletting the Premises or any part thereof and making any alterations and repairs that may be necessary or desirable in connection with such reletting. Any such reletting or relettings may be for such term or terms (including periods that exceed the balance of the term of this Lease), and at upon such other terms, covenants and conditions as Landlord may in Landlord's sole discretion deem advisable. If the same time rent or rents received during any month and applied as if this Lease had not been terminated. In calculating provided above shall be insufficient to cover all such amounts including the Monthly Base Rent and any other amounts to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease for such month, Tenant shall pay to Landlord any deficiency; such deficiencies shall be calculated and the reasonable expenses that Landlord incurs paid monthly. No entry or pays in connection with the reletting taking possession of the Premises that are allocable by Landlord shall be construed as an election by Landlord to terminate this Lease, unless Landlord gives written notice of such election to Tenant or unless such termination shall be decreed by a court of competent jurisdiction. Notwithstanding any reletting by Landlord without termination, Landlord may at any time thereafter terminate this Lease for such previous default by giving written notice thereof to Tenant.
(b) Terminate Tenant's right to possession by notice to Tenant, in which case this Lease shall terminate and Tenant shall immediately surrender possession of the TermPremises to Landlord. In no such event is Tenant Landlord shall be entitled to receive any excess recover from Tenant all damages incurred by Landlord by reason of Tenant's default, including without limitation the following: (1) all unpaid Rent which has been earned at the time of such net rents over termination plus (2) the sums 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 must pay is proved could have been reasonably avoided; plus (3) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform Tenant's obligations under this Lease, or in addition to or in lieu of the foregoing such damages as may be permitted from time to time under applicable State law. Upon any such re-entry Landlord shall have the right to make any reasonable repairs, alterations or modifications to the Premises, which Landlord in Landlord's sole discretion deems reasonable and necessary.
(c) If Landlord terminates this Lease by reason of an Event of Default by Xxxxxxspecified in Section 21.01(c) occurs, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet may remove and store any property that remains on the Premises and, if Tenant does not claim such property within sixty (60) days after Landlord has delivered to Tenant notice of such storage, Landlord may appropriate, sell, destroy or otherwise dispose of the property in question without notice to Tenant or any other person, and without an obligation to account for a period that is equal to, shorter, or longer than the Termsuch property.
Appears in 2 contracts
Samples: Lease Agreement (Qualtrics International Inc.), Lease Agreement (Qualtrics International Inc.)
Remedies of Landlord. 9.3.1 In case of any such default, and Landlord elects not to terminate this Lease, (i) the Fixed Minimum Rent and additional rent shall become due thereupon and be paid up to the time of such default; (ii) Landlord may relet the Demised Premises, or any part or parts thereof, for a term which may at Landlord's option be less than or exceed the period which would have otherwise constituted the balance of the term of this Lease and may grant concessions or free rent; and (iii) Tenant or the legal representative of Tenant shall also pay Landlord, as liquidated damages for the failure of Tenant to observe and perform Tenant's covenants herein contained, for each month of the period constituting the balance of the Lease Term, any deficiency between (a) Upon the occurrence sum of an Event (1) one monthly installment of Default the Fixed Minimum Rent, and (2) the monthly charge for Operating Expenses and other charges and (b) the net amount, if any, of the rents collected on account of the lease or leases of the Demised Premises for each month of the period which would otherwise have constituted the balance of the Lease Term. In computing such liquidated damages, there shall be added to the said deficiency such expenses as Landlord may incur in connection with the reletting, such as court costs, attorney's fees and disbursements, brokerage, and for putting and keeping the Demised Premises in good order or for preparing same for reletting, together with interest on the expenses so incurred at the then maximum lawful rate from the date of such expenditure to the date of repayment thereof to Landlord. Any such liquidated damages shall be paid in monthly installments by XxxxxxTenant on the rent date specified in this Lease and any suit brought to collect the amount of deficiency for any month shall not prejudice in any way the rights of Landlord to collect the deficiency for any subsequent month by a similar proceeding. Landlord at Landlord's option, may make such alterations, repairs, replacements and/or decorations of the Demised Premises as Landlord, in Landlord's sole judgment, considers advisable and necessary for the purpose of reletting the Demised Premises and the making of such alterations and/or declaration shall not operate or be construed to release Tenant from liability hereunder.
9.3.2 In the case of such default and the Lease is terminated, Landlord may recover from Tenant, or the legal representative of Tenant, as liquidated damages (i) the worth at the time of termination of any unpaid Fixed Minimum Rent, additional rent, and other charges earned at the time of such termination; plus (ii) the worth at the time of the termination of the amount of the unpaid Fixed Minimum Rent, additional rent and other charges which Tenant would have paid for the remaining term of the Lease plus (iii) such expenses on other amounts to compensate Landlord for all the detriment proximately caused by Tenant's failure to fulfill any of the covenants of 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 in (1) maintaining or preserving the Premises after such default, (2) recovering possession of the Premises, including attorneys fees therefor, (3) expenses of reletting the Premises including necessary renovations or alterations of the Premises including necessary renovations or alterations of the Premises, attorneys fees and leasing commissions incurred, plus (4) such other amounts in addition to or in lieu of the remedies described foregoing as may be permitted by law. As used in § 9.3 Paragraph (i) above, the "worth at the time of termination" is computed by allowing interest on unpaid amounts at the maximum rate allowed by law. As used in Paragraph (ii) above the "worth at the time of termination" is computed by discounting such amount at the discount rate of the nearest Federal Reserve Bank in effect at the time of the award plus one percent (1%).
9.3.3 In the event of a breach by Tenant of any of the covenants or provisions hereof, Landlord shall have the right of injunction and the right to invoke any other remedies available to Landlord remedy allowed at law or in equityequity as if re-entry, Landlord has the right to terminate summary proceedings and other remedies were not herein provided for. Mention in this Lease upon of any particular remedy shall not less than 60 days prior written notice to Tenant; provided, however, that preclude Landlord from any other remedy in the case of a non-monetary Event of Default by Tenant that poses an immediate threat to the health law or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in this Leaseequity.
(b) Upon termination of this Lease by Landlord pursuant to this § 9.2, Tenant must pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises for a period that is equal to, shorter, or longer than the Term.
Appears in 2 contracts
Samples: Lease Agreement (Ticketmaster Online Citysearch Inc), Lease Agreement (Citysearch Inc)
Remedies of Landlord. (a) Upon the occurrence of an any Event of Default by XxxxxxDefault, Landlord may exercise any one or more of the following described remedies, in addition to the all other rights and remedies described in § 9.3 and any other remedies available to Landlord provided at law or in equity:
A. Terminate this Lease Agreement by written notice to Tenant and forthwith repossess the Leased Premises and be entitled to recover forthwith as damages a sum of money equal to the total of (i) the cost of recovering the Leased Premises (including reasonable attorneys’ fees and costs of suit), (ii) the reasonable cost of removing and storing any personal property, (iii) the unpaid Rent earned at the time of termination, plus interest thereon at the rate described in Section 5, (iv) the present value (discounted at the rate of eight percent (8%) per annum) of the balance of the Rent for the remainder of the Term less the present value (discounted at the same rate) of the fair market rental value of the Leased Premises for said period, taking into account the period of time the Leased Premises will remain vacant until a new tenant is obtained, and the reasonable cost to prepare the Leased Premises for occupancy and the other reasonable costs (such as leasing commissions, tenant improvement allowances and attorneys’ fees) to be incurred by Landlord in connection therewith, and (v) any other sum of money and damages owed by Tenant to Landlord under this Lease Agreement.
B. Terminate Tenant’s right of possession (but not this Lease Agreement) and may repossess the Leased Premises by forcible detainer suit or otherwise, without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant and without terminating this Lease Agreement. Landlord shall use reasonable efforts under the circumstances to relet the Leased Premises on such terms and conditions as Landlord in its sole discretion may determine (including a term different than the Term, rental concessions, alterations and repair of the Leased Premises); provided, however, Landlord has hereby reserves the right (i) to lease any other comparable space available in the Building or in any adjacent building owned by Landlord prior to offering the Leased Premises for lease, and (ii) to refuse to lease the Leased Premises to any potential tenant which does not meet Landlord’s standards and criteria for leasing other comparable space in the Building. Landlord shall not be liable for, nor shall Tenant’s obligations hereunder be diminished because of, Landlord’s failure or refusal to relet the Leased Premises or collect rent due in respect of such reletting. For the purpose of such reletting Landlord shall have the right to decorate or to make any repairs, changes, alterations or additions in or to the Leased Premises as may be reasonably necessary or desirable. In the event that (i) Landlord shall fail or refuse to relet the Leased Premises, or (ii) the Leased Premises are relet and a sufficient sum shall not be realized from such reletting (after first deducting therefrom, for retention by Landlord, the unpaid Rent due hereunder earned but unpaid at the time of reletting plus interest thereon at the rate specified in Section 5, the reasonable cost of recovering possession (including reasonable attorneys’ fees and costs of suit), all of the reasonable costs and expenses of such decorations, repairs, changes, alterations and additions, the reasonable expense of such reletting and the reasonable cost of collection of the rent accruing therefrom) to satisfy the Rent, then Tenant shall pay to Landlord as damages a sum equal to the amount of such deficiency. Any such payments due Landlord shall be made upon demand therefor from time to time and Tenant agrees that Landlord may file suit to recover any sums falling due under the terms of this Section 16 from time to time. No delivery to or recovery by Landlord of any portion due Landlord hereunder shall be any defense in any action to recover any amount not theretofore reduced to judgment in favor of Landlord, nor shall such reletting be construed as an election on the part of Landlord to terminate this Lease upon not less than 60 days prior Agreement unless a written notice of such intention be given to Tenant by Landlord. Notwithstanding any such termination of Tenant’s right of possession of the Leased Premises, Landlord may at any time thereafter elect to terminate this Lease Agreement. In any proceedings to enforce this Lease Agreement under this Section 16, Landlord shall be presumed to have used its reasonable efforts to relet the Leased Premises, and Tenant shall bear the burden of proof to establish that such reasonable efforts were not used.
C. Alter any and all locks and other security devices at the Leased Premises, and if it does so Landlord shall not be required to provide a new key or other access right to Tenant unless Tenant has cured all Events of Default; provided, however, that in any such instance, during Landlord’s normal business hours and at the case convenience of a non-monetary Event Landlord, and upon the written request of Default Tenant accompanied by such written waivers and releases as Landlord may require, Landlord will escort Tenant or its authorized personnel to the Leased Premises to retrieve any personal belongings or other property of Tenant not subject to the Landlord’s lien or security interest described in Section 17. The provisions of this Section 16.0 are intended to override and control any conflicting provisions of the Texas Property Code.
D. All agreements and provisions to be performed by Tenant that poses an immediate threat to under any of the health or safety terms of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end Agreement shall be at Tenant’s sole cost and expense and without any abatement of Rent, except as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as otherwise provided in this Lease.
(b) Upon termination of this Lease by Landlord pursuant to this § 9.2, Agreement. If Tenant must pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable shall fail to pay Landlordany sum of money, as damagesother than Base Rent, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts required to be paid by it hereunder or shall fail to cure any default and such failure shall continue for ten (10) days after notice thereof by Landlord, then Landlord may, but shall not be obligated so to do, and without waiving or releasing Tenant pursuant from any obligations, make any such payment or perform any such act on Tenant’s part. All sums so paid by Landlord and all reasonable costs incurred by Landlord in taking such action shall be deemed Additional Rent hereunder and shall be paid to Landlord on demand, and Landlord shall have (in addition to all other rights and remedies of Landlord) the preceding sentence, Landlord must credit Tenant with same rights and remedies in the net rents that Landlord actually receives from a reletting event of the Premises. Net rents must be determined non-payment thereof by deducting from Tenant as in the gross rents, as and when Landlord receives case of default by Tenant in the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in payment of Rent.
E. In connection with the reletting exercise by Landlord of the Premises that are allocable to the Term. In no event is Tenant entitled to receive its rights and remedies in respect of any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default on the part of Tenant, to the extent (but no further) that Landlord is required by Xxxxxx, Landlord must take all reasonable steps applicable Texas law to mitigate Landlord’s damages, including making reasonable or to use efforts to do so, and such requirement cannot be lawfully and effectively waived (it being the intention of Landlord and Tenant that such requirements be and are hereby WAIVED to the maximum extent permitted by applicable law), Tenant agrees in favor of Landlord that Landlord shall not be deemed to have failed to mitigate damages, or to have used the efforts required by law to do so, because:
(1) Landlord leases other space in the Building prior to re-letting the Leased Premises;
(2) Landlord refuses to relet the Leased Premises for a period that is equal to, shorterto any Affiliate of Tenant, or longer than any principal of Tenant, or any Affiliate of such principal;
(3) Landlord refuses to relet the TermLeased Premises to any person or entity whose creditworthiness Landlord in good xxxxx xxxxx unacceptable;
(4) Landlord refuses to relet the Leased Premises to any person or entity because the use proposed to be made of the Leased Premises by such prospective tenant is not of a type and nature consistent with that of the other tenants in the Building or the floor where the Leased Premises are situated as of the date Tenant defaults under this Lease Agreement, or because such use would, in the good faith opinion of Landlord, impose unreasonable or excessive demands upon the Building;
(5) Landlord refuses to relet the Leased Premises to any person or entity, or any affiliate of such person or entity, who has been engaged in litigation with, or who has threatened litigation against, Landlord or any of its affiliates, or whom Landlord in good xxxxx xxxxx to be unreasonably or excessively litigious;
(6) Landlord refuses to relet the Leased Premises because the tenant or the terms and provisions of the proposed lease are not approved by the holders of any liens or security interests in the Building or any part thereof, or would cause Landlord to breach or be in default of, or to be unable to perform any of its covenants under, any agreements between Landlord and any third party;
(7) Landlord refuses to relet the Leased Premises because the proposed tenant is unwilling to execute and deliver Landlord’s standard lease form without substantial tenant-oriented modifications or such tenant requires improvements to the Leased Premises to be paid at Landlord’s cost and expense; or
(8) Landlord refuses to relet the Leased Premises to a person or entity whose character or reputation, or the nature of whose business, Landlord in good xxxxx xxxxx unacceptable; and it is further agreed that each and all of the grounds for refusal set forth in clauses (1) through (8) above, both inclusive, of this sentence are reasonable grounds for Landlord’s refusal to relet the Leased Premises, or (as to all other provisions of this Lease Agreement) for Landlord’s refusal to issue any approval, or take any other action, of any nature whatsoever under this Lease Agreement. In the event the waiver set forth in this Section 16.E shall be ineffective, Tenant further agrees in favor of Landlord, to the maximum extent to which it may lawfully and effectively do so, that the following efforts to mitigate damages if made by Landlord (and without obligating Landlord to render such efforts) shall be conclusively deemed reasonable, and that Landlord shall be conclusively deemed to have used the efforts to mitigate damages required by applicable law if: Landlord places the Leased Premises on its inventory of available space in the Building; Landlord makes such inventory available to brokers who request same; and Landlord shows the Leased Premises to prospective tenants (or their brokers) who request to see it.
Appears in 2 contracts
Samples: Lease Agreement (Bellicum Pharmaceuticals, Inc), Lease Agreement (Bellicum Pharmaceuticals, Inc)
Remedies of Landlord. 18.1 In the event of Tenant’s default under this Lease as provided in Article 17 above, Landlord, at Landlord’s option, and without limiting Landlord in the exercise of any other right or remedy Landlord may have on account of such default, and without any further demand or notice, may terminate this Lease, recover possession of the Premises and/or, to the extent permitted by California Civil Code Section 1951.3 or any other law, remove all persons and property from the Premises, which property shall be stored by Landlord at a warehouse or elsewhere at the risk, expense and for the account of Tenant.
18.2 On termination of this Lease as provided in Article 18.1 above, Landlord shall be entitled to recover from Tenant the aggregate of:
18.2.1 The worth at the time of the award of the unpaid Rent, as defined in Article 3.2, late charges and interest earned as of the date of the termination hereof;
18.2.2 The worth at the time of the award of the amount by which the unpaid Rent, late charges, interest and other amounts due hereunder, which would have been earned after the date of termination hereof until the time of the award, exceeds the amount of such unpaid Rent, late charges and interest that Tenant proves could have been reasonably avoided by Landlord mitigating its damages;
18.2.3 The worth at the time of the award of the amount by which the unpaid Rent for the balance of the term hereof after the time of the award exceeds the amount of such unpaid Rent, interest and late charges that Tenant proves could have been reasonably avoided by Landlord mitigating its damages; and
18.2.4 Any other amount necessary to compensate Landlord for the detriment proximately caused by Tenant’s uncured default under this Lease, including but not limited to brokerage commissions and advertising expenses, expenses incurred for removing and storing any of Tenant’s property remaining on the Premises, expenses of remodeling the Premises for a new tenant and any special concessions made to obtain a new tenant.
18.3 For the purposes of this Article 18, the “time of the award” shall mean the date upon which the judgment in any action brought by Landlord against Tenant by reason of such default is entered or such earlier date as the court may determine; the “worth at the time of award” (areferred to in Articles 18.2.1 and 18.2.2) Upon shall be computed by including interest at the occurrence Interest Rate and late charges set forth in Article 27 below; and the “worth at the time of award” (referred to in Article 18.2.3) shall be computed by applying the discount rate of the Federal Reserve Bank of San Francisco at the time of the award plus one percent (1%) per annum.
18.4 Nothing in this Article 18 shall be deemed to alter Landlord’s right to indemnification under the indemnification clause or clauses contained in this Lease for claims or liabilities arising from events occurring prior to the termination of this Lease.
18.5 Notwithstanding anything to the contrary set forth herein, Landlord’s reentry into the Premises to perform acts of maintenance or preservation of, or in connection with efforts to relet the Premises, or any portion thereof, or the appointment of a receiver upon Landlord’s initiative to protect Landlord’s interest under this Lease shall not terminate Tenant’s right to possession of the Premises or any portion thereof and, until Landlord does elect to terminate this Lease, this Lease shall continue in full force and Landlord may pursue all its remedies hereunder including, without limitation, the right to recover from Tenant as they become due hereunder all Rent and other charges required to be paid by Tenant under the terms of this Lease.
18.6 If Tenant abandons the Premises, or if Landlord elects to reenter or take possession of the Premises pursuant to any legal proceeding or pursuant to any notice provided by law, and until Landlord elects to terminate this Lease, Landlord may, from time to time, without terminating this Lease, recover all Rent as it becomes due under Article 18.5 above, subject to interest and late charges as set forth in Article 27, and/or relet the Premises or any part thereof for the account of and on behalf of Tenant, on any terms, for any term (whether or not longer than the Lease Term) and at any rental rate as Landlord in its reasonable discretion may deem advisable, and Landlord may make any alterations and repairs to the Premises in connection therewith. In the event that Landlord shall elect to so relet the Premises on behalf of Tenant, then base rent and additional rent received by Landlord from such reletting shall be applied:
18.6.1 First, to reimburse Landlord for the reasonable costs and expenses of such reletting (including, without limitation, legal and other costs and expenses of repossessing the Premises, removing persons and property therefrom, obtaining new tenants, brokerage fees, costs of preparing the Premises for occupancy by such new tenants, and, if Landlord maintains and operates the Premises, the costs thereof).
18.6.2 Second, to the payment of any indebtedness of Tenant to Landlord other than Base Rent, adjustments to Base Rent, Additional Rent and other sums due and unpaid hereunder.
18.6.3 Third, to the payment of Rent and other sums due and unpaid hereunder; the residue, if any, shall be held by Landlord and applied in payment of other or future obligations of Tenant to Landlord as they may become due and payable.
18.7 Should the rent received from such reletting, when applied in the manner and order indicated above, be less than the total amount owing from Tenant pursuant to this Lease, then Tenant shall pay such deficiency to Landlord, and if Tenant does not pay such deficiency within five (5) days of its receipt of written notice, Landlord may bring an Event action against Tenant for recovery of Default by Xxxxxxsuch deficiency or pursue its other remedies hereunder or under California Civil Code Section 1951.8, California Code of Civil Procedure Section 1161 et seq., or any similar, successor or related provision of law.
18.8 All rights, powers and remedies of Landlord under the Lease and any other agreement between Landlord and Tenant shall be cumulative and not alternative and shall be in addition to the all rights, powers and remedies described in § 9.3 and any other remedies available given to Landlord at law or in equity, Landlord has the . The exercise of any one or more of such rights or remedies shall not impair Landlord’s right to terminate this Lease upon not less than 60 days prior written notice to Tenant; providedexercise any other right or remedy, howeverincluding, that in the case without limitation, any and all rights and remedies of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in this Lease.
(b) Upon termination of this Lease by Landlord pursuant to this § 9.2, Tenant must pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason California Civil Code Section 1951.8, California Code of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises for a period that is equal to, shorterCivil Procedure Section 1161 et seq., or longer than the Termany similar, successor or related provision of law.
Appears in 2 contracts
Samples: Lease (National Mercantile Bancorp), Lease (National Mercantile Bancorp)
Remedies of Landlord. (a) Upon the occurrence of an any Event of Default by XxxxxxDefault, Landlord may exercise any one or more of the following described remedies, in addition to the all other rights and remedies described in § 9.3 and any other remedies available to Landlord provided at law or in equity:
A. Terminate this Lease Agreement by written notice to Tenant and forthwith repossess the Leased Premises and be entitled to recover forthwith as damages a sum of money equal to the total of (i) the reasonable cost of recovering the Leased Premises (including attorneys’ fees and costs of suit), (ii) the reasonable cost of removing and storing any personal property, (iii) the unpaid Rent earned at the time of termination, plus interest thereon at the rate described in Section 6, (iv) the present value (discounted at the rate of eight percent (8%) per annum) of the balance of the Rent for the remainder of the Term less the present value (discounted at the same rate) of the fair market rental value of the Leased Premises for said period, taking into account the period of time the Leased Premises will remain vacant until a new tenant is obtained, and the cost to prepare the Leased Premises for occupancy and the other reasonable costs (such as leasing commissions, tenant improvement allowances and attorneys’ fees) to be incurred by Landlord in connection therewith, and (v) any other sum of money and damages owed by Tenant to Landlord under this Lease Agreement.
B. Terminate Tenant’s right of possession (but not this Lease Agreement) and may repossess the Leased Premises by forcible detainer suit or otherwise, without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant and without terminating this Lease Agreement. Landlord shall use reasonable efforts under the circumstances to relet the Leased Premises on such terms and conditions as Landlord in its reasonable discretion may determine (including a term different than the Term, rental concessions, alterations and repair of the Leased Premises); provided, however, Landlord has hereby reserves the right (i) to lease any other comparable space available in the Building or in any adjacent building owned by Landlord prior to offering the Leased Premises for lease, and (ii) to refuse to lease the Leased Premises to any potential tenant which does not meet Landlord’s standards and criteria for leasing other space in the Building. Landlord shall not be liable, nor shall Tenant’s obligations hereunder be diminished because of, Landlord’s failure or refusal to relet the Leased Premises or collect rent due in respect of such reletting. For the purpose of such reletting Landlord shall have the right to decorate or to make any repairs, changes, alterations or additions in or to the Leased Premises as may be reasonably necessary or desirable. In the event that (i) Landlord shall fail or refuse to relet the Leased Premises, or (ii) the Leased Premises are relet and a sufficient sum shall not be realized from such reletting (after first deducting therefrom, for retention by Landlord, the unpaid Rent due hereunder earned but unpaid at the time of reletting plus interest thereon at the rate specified in Section 6, the cost of recovering possession (including attorneys’ fees and costs of suit), all of the costs and expenses of such decorations, repairs, changes, alterations and additions, the expense of such reletting and the cost of collection of the rent accruing therefrom) to satisfy the Rent, then Tenant shall pay to Landlord as damages a sum equal to the amount of such deficiency. Any such payments due Landlord shall be made upon demand therefor from time to time and Tenant agrees that Landlord may file suit to recover any sums falling due under the terms of this Section 16 from time to time. No delivery to or recovery by Landlord of any portion due Landlord hereunder shall be any defense in any action to recover any amount not theretofore reduced to judgment in favor of Landlord, nor shall such reletting be construed as an election on the part of Landlord to terminate this Lease upon not less than 60 days prior Agreement unless a written notice of such intention be given to Tenant by Landlord. Notwithstanding any such termination of Tenant’s right of possession of the Leased Premises, Landlord may at any time thereafter elect to terminate this Lease Agreement. Notwithstanding anything to the contrary herein, if Landlord relets the Leased Premises for a term (the “Relet Term”) that extends past the Expiration Date of this Lease (without consideration of any earlier termination pursuant to this Section 17), the costs of reletting which may be included in Landlord’s damages under this Lease shall be limited to a prorated portion of the costs of reletting, based on the percentage that the length of the Term remaining on the date Landlord terminates this Lease or Tenant’s right to possession bears to the length of the Relet Term. For example, if there are two (2) years left on the Term at the time that Landlord terminates possession and, prior to the expiration of the two (2) year period, Landlord enters into a lease with a Relet Term of 10 years with a new tenant, then only 20% of the costs of reletting shall be included when determining Landlord’s damages.
C. Alter any and all locks and other security devices at the Leased Premises, and if Landlord does so, Landlord shall not be required to provide a new key or other access right to Tenant unless Tenant has cured all Events of Default; provided, however, that in the case of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of persons or propertyany such instance, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in this Lease.
(b) Upon termination of this Lease by Landlord pursuant to this § 9.2, Tenant must pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for any breach of Tenantduring Landlord’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, normal business hours and at the same time convenience of Landlord, and upon the written request of Tenant accompanied by such written waivers and releases as if Landlord may require, Landlord will escort Tenant or its authorized personnel to the Leased Premises to retrieve any personal belongings or other property of Tenant. The provisions of this Lease had not been terminated. In calculating Section 17.C are intended to override and control any conflicting provisions of the amounts Texas Property Code.
D. If Tenant shall fail to pay any sum of money, other than Base Rent, required to be paid by it hereunder or shall fail to cure any default and such failure shall continue for ten (10) days after notice thereof by Landlord, then Landlord may, but shall not be obligated so to do, and without waiving or releasing Tenant pursuant from any obligations, make any such payment or perform any such act on Tenant’s part. All sums so paid by Landlord and all costs incurred by Landlord in taking such action shall be deemed Additional Rent hereunder and shall be paid to Landlord on demand, and Landlord shall have (in addition to all other rights and remedies of Landlord) the preceding sentence, Landlord must credit Tenant with same rights and remedies in the net rents that Landlord actually receives from a reletting event of the Premises. Net rents must be determined non-payment thereof by deducting from Tenant as in the gross rents, as and when Landlord receives case of default by Tenant in the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting payment of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises for a period that is equal to, shorter, or longer than the TermRent.
Appears in 2 contracts
Samples: Lease Agreement (University General Health System, Inc.), Lease Agreement (University General Health System, Inc.)
Remedies of Landlord. In the event of a default by Tenant, Landlord shall have the following rights and remedies in addition to all other rights and remedies otherwise available to Landlord:
(a) Upon Landlord shall be entitled to immediately accelerate upon written notice to Tenant the occurrence full balance of an Event the rent payable for the remainder of Default by Xxxxxxthe term, in addition or renewal term, of this Lease; provided, however, such amount shall be reduced to present value as of the remedies described in § 9.3 and any other remedies available to date of payment based on interest rate of seven percent (7%) per annum.
(b) Landlord at law or in equity, Landlord has shall have the right to terminate this Lease upon not less than 60 days prior written notice to Tenant; provided, however, that in the case of a non-monetary Event of Default by Tenant that poses an immediate threat without prejudice to the health any claim for rents or safety of persons other sums due or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in become’ due under this Lease.
(bc) Upon termination Landlord shall have the immediate right of re-entry and may remove all persons and property from the Leased Premises. Such property may be roved and stored at the cost of Tenant. Should Landlord elect to re-enter as herein provided, or should Landlord take possession pursuant to legal proceedings, Landlord may either terminate this Lease or, from time to time, without terminating this Lease, relet the Leased 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
(i) Tenant shall be immediately liable to pay to Landlord, in addition to any indebtedness other than rent due hereunder, the cost and expense of such reletting and of any such alterations and repairs incurred by Landlord, and the amount, if any, by which the rent reserved in this Lease for the period of the reletting as accelerated under Subparagraph (a) of this Paragraph, exceeds the amount agreed to be paid for rent for the Leased Premises by the relating Tenant; or (ii) at the option of Landlord. rents received by Landlord pursuant from such reletting shall be applied first, to this § 9.2, Tenant must pay to Landlord Rent payable by the payment of any indebtedness other than rent due hereunder from Tenant to Landlord up Landlord; second, to the Expiration Datepayment of any costs and expenses of such reletting and of such alterations and repairs; third, to the payment of rent unpaid hereunder; and Xxxxxx remains liable for any breach the residue, if any, held by Landlord and applied in payment of future unaccelerated rent as the same may become due and payable hereunder.
(d) Landlord may immediately xxx to recover from Tenant all damages Landlord may incur by reason of Tenant’s obligations under default, including the cost of recovering the Leased Premises, and including the rent reserved and charged in this Lease occurring before for the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting remainder of the Premises. Net rents must stated term as accelerated under Subparagraph (a) of this Paragraph, all of which shall be determined by deducting from the gross rents, as immediately due and when payable along with attorneys’ fees and Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable shall have no obligation to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises for a period that is equal to, shorter, or longer than the Term.relet,
Appears in 2 contracts
Samples: Lease Agreement (Corium International, Inc.), Lease Agreement (Corium International, Inc.)
Remedies of Landlord. 20.1 In the event of Tenant's breach of or default under this Lease as provided in Section 19 above, Landlord, at Landlord's option, and without limiting Landlord in the exercise of any other right or remedy Landlord may have on account of such default, and without any further demand or notice, may terminate this Lease and/or, to the extent permitted by law, remove all persons and property from the Premises, which property shall be stored by Landlord at a warehouse or elsewhere at the risk, expense and for the account of Tenant.
20.2 If Landlord elects to terminate this Lease as provided in Section 20.1 above, Landlord shall be entitled to recover from Tenant the aggregate of:
20.2.1 The worth at the time of the award of the unpaid rent and charges equivalent to rent earned as of the date of the termination hereof;
20.2.2 The worth at the time of award of the amount by which the future rent and charges equivalent to future rent and other amounts due hereunder which would have been earned after the date of termination hereof until the time of the award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided;
20.2.3 The worth at the time of the award of the amount by which the future rent and charges equivalent to future rent for the balance of the term hereof after the time of the award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided;
20.2.4 Any other amount necessary to compensate Landlord for 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; and,
20.2.5 Any other amount which Landlord may hereafter be permitted to recover from Tenant to compensate Landlord for the detriment caused by Tenant's default. For the purposes of this Section, the "time of the award" shall mean the date upon which the judgement in any action brought by Landlord against Tenant by reason of such default is entered or such earlier date as the court may determine; the "worth at the time of award" of the amounts referred to in Sections 20.2.1 and 20.2.2 shall be computed by allowing interest at the Interest Rate, but not less than the legal rate; and the "worth at the time of award" of the amount referred to in Section 20.2.3 shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of the award plus one percent (a1%) Upon per annum.
20.3 Nothing in this Section 20 shall be deemed to affect Landlord's right to indemnification, under the occurrence indemnification clause or clauses contained in this Lease for claims or liability arising from events occurring prior to the termination of an Event this Lease.
20.4 Notwithstanding anything to the contrary set forth herein, Landlord's reentry to perform acts of Default maintenance or preservation of, or in connection with efforts to relet, the Premises, or any portion thereof, or the appointment of a receiver upon Landlord's initiative to protect Landlord's interest under this Lease shall not terminate Tenant's right to possession of the Premises or any portion thereof and, until Landlord does elect to terminate this Lease, this Lease shall continue in full force and Landlord may pursue all its remedies hereunder including, without limitation, the right to recover from Tenant as they become due hereunder all rent and other charges required to be paid by XxxxxxTenant under the terms of this Lease.
20.5 In the event of any default by Tenant as set forth above, then in addition to the remedies described in § 9.3 and any other remedies available to Landlord at law or in equityequity or under this Lease, Landlord has shall have the right to bring an action or actions from time to time against Tenant, in any court of competent jurisdiction, for all rental and other sums due or becoming due under this Lease, including all damages and costs proximately caused thereby, notwithstanding Tenant's abandonment or vacation of the Premises or other acts of Tenant. Such remedy may be exercised by Landlord without prejudice to its right to thereafter terminate this Lease upon not less than 60 days prior written notice to Tenant; provided, however, that in accordance with the case of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided other provisions contained in this LeaseSection 20.
(b) Upon termination of this Lease by Landlord pursuant to this § 9.2, Tenant must pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises for a period that is equal to, shorter, or longer than the Term.
Appears in 2 contracts
Samples: Lease (Digital Island Inc), Lease (Digital Island Inc)
Remedies of Landlord. (a) Upon the occurrence of an any Event of Default by XxxxxxDefault, Landlord may exercise any one or more of the following described remedies, in addition to the all other rights and remedies described in § 9.3 and any other remedies available to Landlord provided at law or in equity:
A. Terminate this Lease Agreement by written notice to Tenant and forthwith repossess the Leased Premises and be entitled to recover forthwith as damages a sum of money equal to the total of (i) the cost of recovering the Leased Premises (including reasonable attorneys’ fees and costs of suit), (ii) the reasonable cost of removing and storing any personal property, (iii) the unpaid Rent earned at the time of termination, plus interest thereon at the rate described in Section 5, (iv) the present value (discounted at the rate of eight percent (8%) per annum) of the balance of the Rent for the remainder of the Term less the present value (discounted at the same rate) of the fair market rental value of the Leased Premises for said period, taking into account the period of time the Leased Premises will remain vacant until a new tenant is obtained, and the reasonable cost to prepare the Leased Premises for occupancy and the other reasonable costs (such as leasing commissions, tenant improvement allowances and attorneys’ fees) to be incurred by Landlord in connection therewith, and (v) any other sum of money and damages owed by Tenant to Landlord under this Lease Agreement.
B. Terminate Tenant’s right of possession (but not this Lease Agreement) and may repossess the Leased Premises by forcible detainer suit or otherwise, without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant and without terminating this Lease Agreement. Landlord shall use reasonable efforts under the circumstances to relet the Leased Premises on such terms and conditions as Landlord in its sole discretion may determine (including a term different than the Term, rental concessions, alterations and repair of the Leased Premises); provided, however, Landlord has hereby reserves the right (i) to lease any other comparable space available in the Building or in any adjacent building owned by Landlord prior to offering the Leased Premises for lease, and (ii) to refuse to lease the Leased Premises to any potential tenant which does not meet Landlord’s standards and criteria for leasing other comparable space in the Building. Landlord shall not be liable for, nor shall Tenant’s obligations hereunder be diminished because of, Landlord’s failure or refusal to relet the Leased Premises or collect rent due in respect of such reletting. For the purpose of such reletting Landlord shall have the right to decorate or to make any repairs, changes, alterations or additions in or to the Leased Premises as may be reasonably necessary or desirable. In the event that (i) Landlord shall fail or refuse to relet the Leased Premises, or (ii) the Leased Premises are relet and a sufficient sum shall not be realized from such reletting (after first deducting therefrom, for retention by Landlord, the unpaid Rent due hereunder earned but unpaid at the time of reletting plus interest thereon at the rate specified in Section 5, the reasonable cost of recovering possession (including reasonable attorneys’ fees and costs of suit), all of the reasonable costs and expenses of such decorations, repairs, changes, alterations and additions, the reasonable expense of such reletting and the reasonable cost of collection of the rent accruing therefrom) to satisfy the Rent, then Tenant shall pay to Landlord as damages a sum equal to the amount of such deficiency. Any such payments due Landlord shall be made upon demand therefor from time to time and Tenant agrees that Landlord may file suit to recover any sums falling due under the terms of this Section 16 from time to time. No delivery to or recovery by Landlord of any portion due Landlord hereunder shall be any defense in any action to recover any amount not theretofore reduced to judgment in favor of Landlord, nor shall such reletting be construed as an election on the part of Landlord to terminate this Lease upon not less than 60 days prior Agreement unless a written notice of such intention be given to Tenant by Landlord. Notwithstanding any such termination of Tenant’s right of possession of the Leased Premises, Landlord may at any time thereafter elect to terminate this Lease Agreement. In any proceedings to enforce this Lease Agreement under this Section 16, Landlord shall be presumed to have used its reasonable efforts to relet the Leased Premises, and Tenant shall bear the burden of proof to establish that such reasonable efforts were not used.
C. Alter any and all locks and other security devices at the Leased Premises, and if it does so Landlord shall not be required to provide a new key or other access right to Tenant unless Tenant has cured all Events of Default; provided, however, that in any such instance, during Landlord’s normal business hours and at the case convenience of a non-monetary Event Landlord, and upon the written request of Default Tenant accompanied by such written waivers and releases as Landlord may require, Landlord will escort Tenant or its authorized personnel to the Leased Premises to retrieve any personal belongings or other property of Tenant not subject to the Landlord’s lien or security interest described in Section 17. The provisions of this Section 16.C are intended to override and control any conflicting provisions of the Texas Property Code.
D. All agreements and provisions to be performed by Tenant that poses an immediate threat to under any of the health or safety terms of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end Agreement shall be at Tenant’s sole cost and expense and without any abatement of Rent, except as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as otherwise provided in this Lease.
(b) Upon termination of this Lease by Landlord pursuant to this § 9.2, Agreement. If Tenant must pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable shall fail to pay Landlordany sum of money, as damagesother than Base Rent, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts required to be paid by it hereunder or shall fail to cure any default and such failure shall continue for ten (10) days after notice thereof by Landlord, then Landlord may, but shall not be obligated so to do, and without waiving or releasing Tenant pursuant from any obligations, make any such payment or perform any such act on Tenant’s part. All sums so paid by Landlord and all reasonable costs incurred by Landlord in taking such action shall be deemed Additional Rent hereunder and shall be paid to Landlord on demand, and Landlord shall have (in addition to all other rights and remedies of Landlord) the preceding sentence, Landlord must credit Tenant with same rights and remedies in the net rents that Landlord actually receives from a reletting event of the Premises. Net rents must be determined non-payment thereof by deducting from Tenant as in the gross rents, as and when Landlord receives case of default by Tenant in the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in payment of Rent.
E. In connection with the reletting exercise by Landlord of the Premises that are allocable to the Term. In no event is Tenant entitled to receive its rights and remedies in respect of any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default on the part of Tenant, to the extent (but no further) that Landlord is required by Xxxxxx, Landlord must take all reasonable steps applicable Texas law to mitigate Landlord’s damages, including making reasonable or to use efforts to do so, and such requirement cannot be lawfully and effectively waived (it being the intention of Landlord and Tenant that such requirements be and are hereby WAIVED to the maximum extent permitted by applicable law), Tenant agrees in favor of Landlord that Landlord shall not be deemed to have failed to mitigate damages, or to have used the efforts required by law to do so, because:
(1) Landlord leases other space in the Building prior to re-letting the Leased Premises;
(2) Landlord refuses to relet the Leased Premises for a period that is equal to, shorterto any Affiliate of Tenant, or longer than any principal of Tenant, or any Affiliate of such principal;
(3) Landlord refuses to relet the TermLeased Premises to any person or entity whose creditworthiness Landlord in good xxxxx xxxxx unacceptable;
(4) Landlord refuses to relet the Leased Premises to any person or entity because the use proposed to be made of the Leased Premises by such prospective tenant is not of a type and nature consistent with that of the other tenants in the Building or the floor where the Leased Premises are situated as of the date Tenant defaults under this Lease Agreement, or because such use would, in the good faith opinion of Landlord, impose unreasonable or excessive demands upon the Building;
(5) Landlord refuses to relet the Leased Premises to any person or entity, or any affiliate of such person or entity, who has been engaged in litigation with, or who has threatened litigation against, Landlord or any of its affiliates, or whom Landlord in good xxxxx xxxxx to be unreasonably or excessively litigious;
(6) Landlord refuses to relet the Leased Premises because the tenant or the terms and provisions of the proposed lease are not approved by the holders of any liens or security interests in the Building or any part thereof, or would cause Landlord to breach or be in default of, or to be unable to perform any of its covenants under, any agreements between Landlord and any third party;
(7) Landlord refuses to relet the Leased Premises because the proposed tenant is unwilling to execute and deliver Landlord’s standard lease form without substantial tenant-oriented modifications or such tenant requires improvements to the Leased Premises to be paid at Landlord’s cost and expense; or
(8) Landlord refuses to relet the Leased Premises to a person or entity whose character or reputation, or the nature of whose business, Landlord in good xxxxx xxxxx unacceptable; and it is further agreed that each and all of the grounds for refusal set forth in clauses (1) through (8) above, both inclusive, of this sentence are reasonable grounds for Landlord's refusal to relet the Leased Premises, or (as to all other provisions of this Lease Agreement) for Landlord's refusal to issue any approval, or take any other action, of any nature whatsoever under this Lease Agreement. In the event the waiver set forth in this Section 16.E shall be ineffective, Tenant further agrees in favor of Landlord, to the maximum extent to which it may lawfully and effectively do so, that the following efforts to mitigate damages if made by Landlord (and without obligating Landlord to render such efforts) shall be conclusively deemed reasonable, and that Landlord shall be conclusively deemed to have used the efforts to mitigate damages required by applicable law if: Landlord places the Leased Premises on its inventory of available space in the Building; Landlord makes such inventory available to brokers who request same; and Landlord shows the Leased Premises to prospective tenants (or their brokers) who request to see it.
Appears in 2 contracts
Samples: Lease Agreement (Bellicum Pharmaceuticals, Inc), Lease Agreement (Bellicum Pharmaceuticals, Inc)
Remedies of Landlord. Upon any Event of Default, Landlord may, at Landlord’s option in its sole discretion, and in addition to all other rights, remedies and recourses afforded Landlord hereunder or by law or equity, do any one or more of the following:
(a) Upon the occurrence of an Event of Default by Xxxxxx, in addition to the remedies described in § 9.3 and any other remedies available to Landlord at law or in equity, Landlord has the right to terminate this Lease upon not less than 60 days prior by the giving of written notice to Tenant; providedreenter the Premises; eject all parties in possession thereof; repossess and enjoy the Premises and all tenant improvements and alterations therein; and recover from Tenant all of the following: (i) all Rent and other amounts accrued hereunder to the date of termination, however(ii) all amounts due under Section 24.3 below, and (iii) liquidated damages in an amount equal to (A) the total Rent that Tenant would have been required to pay for the remainder of the Term of this Lease discounted to present value at the prime lending rate (or equivalent rate, however denominated) in effect on the date of termination at the largest national bank in the case state where the Complex is located, minus (B) the then-present fair rental value of a non-monetary Event of Default the Premises for such period, similarly discounted, plus any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant that poses an immediate threat Tenant’s failure to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, perform its obligations under this Lease comes or which would be likely to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixedresult therefrom, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7including, but Xxxxxx remains liable for damages arising out of such Event of Defaultwithout limitation, as provided in this Lease.attorneys’ fees, brokers’ commissions or finder’s fees;
(b) Upon termination terminate Tenant’s right to possession of the Premises without terminating this Lease by Landlord pursuant the giving of written notice to this § 9.2Tenant, in which event Tenant must shall pay to Landlord (i) all Rent payable by Tenant to Landlord up and other amounts accrued hereunder to the Expiration Datedate of termination of possession, (ii) all amounts due from time to time under Section 24.3 below, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of (iii) all Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts other sums required hereunder to be paid by Tenant pursuant to during the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting remainder of the Premises. Net rents must be determined Term of this Lease, diminished by deducting from the gross rents, as and when any net sums thereafter received by Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the through reletting of the Premises that are allocable during said period. Reentry by Landlord in the Premises will not affect the obligations of Tenant hereunder for the unexpired Term of this Lease. Landlord may bring action against Tenant to collect amounts due by Tenant on one or more occasions, without the necessity of Landlord’s waiting until expiration of the Term. In no event is Tenant entitled If Landlord elects to receive any excess of such net rents over the sums that Tenant must pay to Landlord proceed under this Lease. If Landlord terminates Section 24.2(b), it may at any time elect to terminate this Lease by reason of pursuant to Section 24.2(a) above;
(c) if an Event of Default by Xxxxxxoccurs, Landlord must take all reasonable steps may remove and store any property that remains on the Premises and, if Tenant does not claim such property within thirty (30) days after Landlord has delivered to mitigate Tenant notice of such storage, Landlord may appropriate, sell, destroy or otherwise dispose of the property in question without notice to Tenant or any other person, and without any obligation to account for such property; and/or
(d) no taking possession of the Premises by Landlord shall be construed as Landlord’s damages, including making reasonable efforts to relet acceptance of a surrender of the Premises by Tenant or an election of Landlord to terminate this Lease unless written notice of such intention is given to Tenant. Notwithstanding any leasing or subletting without termination of this Lease, Landlord may at any time thereafter elect to terminate this Lease for a period that is equal to, shorter, or longer than the TermTenant’s previous breach.
Appears in 2 contracts
Samples: Lease Agreement (Fusion-Io, Inc.), Lease Agreement (Fusion-Io, Inc.)
Remedies of Landlord. (a) Upon 20.1 In the occurrence event of an Event Tenant's breach of Default by Xxxxxx, in addition to the remedies described in § 9.3 and any other remedies available to Landlord at law or in equity, Landlord has the right to terminate default under this Lease upon not less than 60 days prior written notice to Tenant; provided, however, that in the case of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7Section 19 above, but Xxxxxx remains liable for damages arising out Landlord, at Landlord's option, and without limiting Landlord in the exercise of any other right or remedy Landlord may have on account of such Event of Default, as provided in this Lease.
(b) Upon termination of this Lease by Landlord pursuant to this § 9.2, Tenant must pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Datedefault, and Xxxxxx remains liable for without any breach of further demand or notice, may terminate Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable 's right to pay Landlord, as damages, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting possession of the Premises. Net rents must be determined Premises by deducting from the gross rentsany lawful means, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating which case this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting term hereof shall terminate and Tenant shall immediately surrender possession of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. Landlord.
20.2 If Landlord terminates this Lease as provided in Section 20.1. above, Landlord shall be entitled to recover from Tenant the aggregate of all amounts permitted by law including, but not limited to:
20.2.1 The worth at the time of award of the unpaid rent and charges equivalent to rent earned as of the date of the termination hereof; plus
20.2.2 The worth at the time of award of the amount by which the unpaid rent and charges equivalent to rent which would have been earned after the date of termination hereof until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus
20.2.3 The worth at the time of award of the amount by which the unpaid rent and charges equivalent to rent for the balance of the term hereof after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus
20.2.4 Any other amount necessary to compensate Landlord for 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, the cost of recovering possession of the Premises, expenses of releasing, including necessary renovation and alteration of the Premises, reasonable attorneys' fees, any real estate commissions actually paid by Landlord and the unamortized value of any free rent, reduced rent, tenant improvement allowance or other economic concessions provided by Landlord. For purposes of this Section, the "time of award" shall mean the date upon which the judgment in any action brought by Landlord against Tenant by reason of an Event such default is entered or such earlier date as the court may determine; the "worth at the time of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises for a period that is equal to, shorter, or longer than the Term.award" of the
Appears in 1 contract
Remedies of Landlord. In the event that the term of this Lease shall terminate and expire pursuant to notice or as the result of summary proceeding, or if Landlord shall reenter by summary proceedings or other action or proceeding or recover possession of the Apartment in any other manner herein provided, (a) Upon the occurrence of an Event of Default by Xxxxxx, in addition Tenant shall pay to Landlord any rent then due up to the remedies described in § 9.3 time of the end of the lease term and any other remedies available Tenant shall be responsible for use and occupation until reentry or dispossess together with all expenses of Landlord including attorneys’ fees, not to Landlord at law or in equity, Landlord has the right to terminate this Lease include attorneys’ fees upon not less than 60 days prior written notice to Tenant; provided, however, that in the case of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixeddefault judgment, and Xxxxxx must then quit disbursements, incurred in connection with any summary proceedings or other action or proceeding and surrender the Premises to removal of the property and effects of Tenant or other occupants from the Apartment and all expenses incurred by Landlord as provided that are reasonably necessary in § 6.7, but Xxxxxx remains liable repairing and redecorating the same for damages arising out of such Event of Default, as provided in this Lease.
re-rental and (b) Upon termination to the extent that Tenant is not absolved from an obligation to pay Landlord pursuant to paragraph 7(B) above, Tenant shall remain responsible to Landlord for damages including any difference between the rent to be paid under the Lease and the amount, if any, of this the rents collected on account of the subsequent lease or leases of the Apartment for each month of the period which would otherwise have constituted the rest of the term of the Lease, after the deduction of brokers’ commissions and expense of Landlord for repairing, redecorating and otherwise preparing the Apartment for occupancy, by any other Tenant. Landlord, at its option, may make such alterations and/or decorations in the Apartment as are reasonably necessary for the purpose of reletting same and the making of such alterations and/or decorations shall not release Tenant from any liability hereunder. Damages shall be paid in monthly installments by Tenant on the rent day mentioned in the Lease and any legal action brought to collect the amount of the loss of rent for any month shall not prejudice in any way the rights of Landlord to collect the loss of rent for any subsequent month by a similar proceeding. None of the expenses, counsel fees, disbursements and/or damages, if any, paid by Tenant to Landlord pursuant to this § 9.2, Tenant must pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of Rent remaining in the TermParagraph 20 shall be considered additional rent.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises for a period that is equal to, shorter, or longer than the Term.
Appears in 1 contract
Samples: Lease Agreement
Remedies of Landlord. (a) Upon the occurrence of an Event of Default a default by XxxxxxTenant that is not cured by Tenant within the cure period specified above, Landlord shall have the following rights and remedies in addition to the remedies described in § 9.3 all other rights and any other remedies available to Landlord at law or in equity:
(1) The rights and remedies to recover from Tenant upon termination of the Lease:
(a) 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 rental loss that Landlord could reasonably have avoided;
(c) The worth at the time of award of the amount, if any, by which the unpaid rent for the balance of the Term after the time of award exceeds the fair rental value of the Premises; and
(2) The rights and remedies which allow Landlord has to continue this Lease in effect and to enforce all of its rights and remedies under this Lease, including the right to recover rent and any other additional monetary charges as they become due, for as long as Landlord does not terminate Tenant’s right to possession less the amount thereof Landlord did recover or with reasonable diligence could have recovered by reletting the Premises. Acts of maintenance or preservation, efforts to relet 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.
(3) The right to terminate this Lease upon not less than 60 days prior written by giving notice to Tenant; provided, however, that Tenant in accordance with applicable law.
(4) The right and power to enter the case of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of Premises and remove therefrom all persons or and property, to store such property in a public warehouse or elsewhere at the cost of and for the account of Tenant. Landlord has may from time to time sublet the Premises or any part thereof for such term or terms (which may extend beyond the Term) and at such rent and such other terms as Landlord in its sole discretion may deem advisable, with the right to reduce said 60-day notice period make alterations in and repairs to ten daysthe Premises. Upon each such subletting, Tenant shall be immediately liable for payment to Landlord of the cost of such subletting and such alterations and repairs incurred by Landlord, if any. Any amounts received by Landlord from such subletting shall be applied first toward the cost of any alterations or repairs made to the Premises in connection with such subletting; second, to payment of Monthly Rent, Tenant’s Proportionate Share of Common Operating Costs, and other monetary obligations due and unpaid hereunder, and the residue, if any, shall be held by Landlord and applied in payment of future Monthly Rent, Tenant’s Proportionate Share of Common Operating Costs, and other monetary obligations as the same become due hereunder. If Tenant has been credited with any rent to be received by such subletting and such rent shall not be promptly paid to Landlord by the subtenant(s), or if such rentals received from such subletting during any month are less than those paid to Landlord by the subtenant, or if such rentals received from such subletting during any month are less than those to be paid during that month by Tenant hereunder, Tenant shall pay any such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No taking possession of the Premises by Landlord, under this Section XXI(B)(4), shall be construed as an election on Landlord’s part to terminate this Lease unless written notice of such intention is given to Tenant. Notwithstanding any such subletting without termination, Landlord may at any time thereafter elect to terminate this Lease comes to an end as fully and completely as if the Expiration Date stated in for such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in this Leaseprevious breach.
(b5) Upon termination Notwithstanding anything herein contained to the contrary, if Tenant shall be in default in the performance of any of the terms or provisions of this Lease by and if Landlord pursuant shall give to this § 9.2, Tenant must pay to Landlord Rent payable by Tenant to Landlord up to notice in writing of such default specifying the Expiration Datenature thereof, and Xxxxxx remains liable if Tenant shall fail to cure such default within the time herein provided or immediately if such default requires emergency action, Landlord may, in addition to its other legal and equitable remedies, cure such default for any breach the account of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating cost and expense of Tenant, and the amounts sums so expended by Landlord, including reasonable legal fees, shall be deemed to be additional rent and shall be paid by Tenant pursuant to on the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must be determined by deducting from the gross rents, as day when rent shall next become due and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises for a period that is equal to, shorter, or longer than the Termpayable.
Appears in 1 contract
Remedies of Landlord. 14.01. In the event of default by Tenant, subject to the provisions of Section 13 of this Agreement, Landlord, at its sole option, shall have the following rights:
(ai) Upon The right to declare the occurrence term of an Event this Lease ended and re-enter the Premises and take possession thereof, and to terminate all of Default by Xxxxxxthe rights of Tenant in and to the Premises; or
(ii) The right to continue this Agreement in full force and effect, without terminating Tenant's right to possession of the Premises, in addition to the remedies described in § 9.3 and any other remedies available to which event Landlord at law or in equity, Landlord has shall have the right to terminate collect the Monthly Rent and other charges when due, including any sums due for any option period for which an option to extend has been exercised.
14.02. If Tenant defaults under this Lease upon not less than 60 days prior and abandons the Premises before the end of the Lease Term, or if its right of possession is terminated by Landlord because of Tenant's default under this Agreement, then this Lease may be terminated by Landlord at its option by written notice to Tenant; provided. On such termination Landlord may recover from Tenant any obligation which has accrued and not been paid prior to the time this Agreement is terminated, however, that plus reasonable attorneys fees relating to the enforcement of these provisions by Landlord and an indemnification from Tenant in the case amount of the unpaid rents for the balance of the Lease Term from the date of such termination notice payable upon demand.
14.03. The waiver by Landlord of any breach or default of Tenant hereunder shall not be a non-monetary Event waiver of Default any preceding or subsequent breach of the same or any other term. Acceptance of any rent payment shall not be construed to be a waiver by the Landlord of any preceding breach by Tenant.
14.04. All past due amounts owed by Tenant that poses an immediate threat to under the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in this Lease.
(b) Upon termination terms of this Lease by Landlord pursuant to this § 9.2, Tenant must pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and shall bear interest at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must be Prime Rate determined by deducting from the gross rentsCitibank, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises for a period that is equal to, shorter, or longer than the Term.New
Appears in 1 contract
Samples: Lease Agreement (International Manufacturing Services Inc)
Remedies of Landlord. (a) Upon the occurrence of If an Event of Default by Xxxxxxshall exist, in addition to the remedies described in § 9.3 and any other remedies available to Landlord LANDLORD may, at law or in equityits option, Landlord has the terminate TENANT's right to terminate this Lease possession of the Premises (without terminating the Lease) and make such alterations and repairs as LANDLORD shall determine may be reasonably necessary to relet the Premises, and relet the same or any part thereof upon not less than 60 days prior written notice to Tenant; provided, however, that in the case of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten dayssuch terms and conditions as LANDLORD may deem advisable. Upon such terminationreletting, this Lease comes to an end as fully and completely as if the Expiration Date stated in all rentals received by LANDLORD from such notice were the Expiration Date originally fixedreletting shall be applied, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7first, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in this Lease.
(b) Upon termination of this Lease by Landlord pursuant to this § 9.2, Tenant must pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for payment of any breach of Tenant’s obligations indebtedness other than rent due under this Lease occurring before the Expiration Date. In addition, Tenant is liable from TENANT to pay Landlord, as damages, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same mannerLANDLORD; second, to the same extent, payment of any costs and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting expenses of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease including brokerage fees and the reasonable expenses that Landlord incurs or pays in connection with the reletting attorney fees and costs of the Premises that are allocable such alterations and repairs, and third, to the Termpayment of rent due and unpaid hereunder. In no event is Tenant shall TENANT be entitled to receive any surplus of any sums received by LANDLORD on a reletting in excess of such net rents over the sums that Tenant must pay to Landlord under this Leaserental and other charges payable hereunder. If Landlord terminates such rentals and other charges received from such reletting during any month are less than those to be paid during that month by TENANT hereunder, TENANT shall pay any such deficiency to LANDLORD, such deficiency to be calculated and payable monthly. LANDLORD may at any date terminate this Lease by reason of giving notice thereof to TENANT. If an Event of Default shall exist, LANDLORD may lawfully, by Xxxxxxappropriate proceedings, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet enter the Premises and repossess the same and expel TENANT and those claiming under TENANT without being deemed guilty of any manner of trespass and without prejudice to any other remedies which LANDLORD may have for arrears of rent or preceding breach of covenant, and upon entry as aforesaid, this Lease shall terminate and TENANT covenants that in case of such termination, it will pay to LANDLORD on a period that is equal to, shorter, or longer than monthly basis all rent during the Termresidue of the term.
Appears in 1 contract
Remedies of Landlord. In the event of default by Tenant, Landlord shall have the following rights and remedies in addition to all other rights and remedies otherwise available to Landlord:
(a) Upon Landlord shall be entitled to immediately accelerate upon written notice to Tenant the occurrence full balance of an Event the rent payable for the remainder of Default by Xxxxxxthe term, in addition or renewal term, of this Lease; provided, however, such amount shall be reduced to present value as of the remedies described in § 9.3 and any other remedies available to date of payment based on interest rate of seven percent (7%) per annum.
(b) Landlord at law or in equity, Landlord has shall have the right to terminate this Lease upon not less than 60 days prior written notice to Tenant; provided, however, that in the case of a non-monetary Event of Default by Tenant that poses an immediate threat without prejudice to the health any claim for rents or safety of persons other sums due or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in become due under this Lease.
(bc) Upon termination Landlord shall have the immediate right of re-entry and may remove all persons and property from the Leased Premises. Such property may be removed and stored at the cost of Tenant. Should Landlord elect to re-enter as herein provided, or should Landlord take possession pursuant to legal proceedings, Landlord may either terminate this Lease or, from time to time, without terminating this Lease, relet the Leased Premises or any part thereof for such term or terms (which may be for a term extending beyond the term of this Lease by Landlord pursuant Lease) and at such rental or rentals and upon such other terms and conditions as Landlord, in the exercise of its sole discretion, deems advisable, with the right to this § 9.2, Tenant must pay to Landlord Rent payable by Tenant to Landlord up make alterations and repairs to the Expiration DateLeased Premises. Upon each such reletting, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, (i) Tenant is shall be immediately liable to pay to Landlord, as damagesin addition to any indebtedness other than rent due hereunder, the aggregate cost and expense of Rent remaining such reletting and of any such alterations and repairs incurred by Landlord, and the amount, if any, by which the rent reserved in this Lease for the Termperiod of the reletting as accelerated under Subparagraph (a) of this Paragraph, exceeds the amount agreed to be paid for rent for the Leased Premises by the reletting Tenant; or (ii) at the option of Landlord, rents 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 and of such alterations and repairs; third, to the payment of rent unpaid hereunder; and the residue, if any, held by Landlord and applied in payment of future unaccelerated rent as the same may become due and payable hereunder.
(cd) Landlord may immediately sue xx recover from Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, all damages Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease may incur by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damagesTenant's default, including making reasonable efforts the cost of recovering the Leased Premises, and including the rent reserved and charged in this Lease for the remainder of the stated term as accelerated under Subparagraph (a) of this Paragraph, all of which shall be immediately due and payable along with attorneys' fees and Landlord shall have no obligation to relet the Premises for a period that is equal to, shorter, or longer than the Termrelet.
Appears in 1 contract
Samples: Lease (Airgate PCS Inc /De/)
Remedies of Landlord. 20.1 In the event of Tenant’s breach of or default under this Lease as provided in Section 19 above, Landlord, at Landlord’s option, and without limiting Landlord in the exercise of any other right or remedy Landlord may have on account of such default, and without any further demand or notice, may terminate this Lease and/or, to the extent permitted by law, remove all persons and property from the Premises, which property shall be stored by Landlord at a warehouse or elsewhere at the risk, expense and for the account of Tenant.
20.2 If Landlord elects to terminate this Lease as provided in Section 20.1 above, Landlord shall be entitled to recover from Tenant the aggregate of:
20.2.1 The worth at the time of award of the unpaid rent and charges equivalent to rent earned as of the date of the termination hereof;
20.2.2 The worth at the time of award of the amount by which the unpaid rent and charges equivalent to rent which would have been earned after the date of termination hereof until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided;
20.2.3 The worth at the time of award of the amount by which the unpaid rent and charges equivalent to rent for the balance of the term hereof after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided;
20.2.4 Any other amount necessary to compensate Landlord for 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; and
20.2.5 Any other amount which Landlord may hereafter be permitted to recover from Tenant to compensate Landlord for the detriment caused by Tenant’s default. For the purposes of this Section, the “time of award” shall mean the date upon which the judgment in any action brought by Landlord against Tenant by reason of such default is entered or such earlier date as the court may determine; the “worth at the time of award” of the amounts referred to in Sections 20.2.1 and 20.2.2 shall be computed by allowing interest at the Interest Rate, but not less than the legal rate; and the “worth at the time of award” of the amount referred to in Section 20.2.3 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 (a1%) Upon per annum. Tenant agrees that such charges shall be recoverable by Landlord under California Code of Civil Procedure Section 1174(b) or any similar, successor or related provision of law. Further, Tenant hereby waives the occurrence provisions of an Event California Code of Default Civil Procedure Section 1174(c) and California Civil Code Section 1951.7 or any other similar, successor or related provision of law providing for Tenant’s right to satisfy any judgment in order to prevent a forfeiture of this Lease or requiring Landlord to deliver written notice to Tenant of any resetting of the Premises.
20.3 Nothing in this Section 20 shall be deemed to affect Landlord’s right to indemnification, under the indemnification clause or clauses contained in this Lease, for claims or liability arising from events occurring prior to the termination of this Lease.
20.4 Notwithstanding anything to the contrary set forth herein, Landlord’s reentry to perform acts of maintenance or preservation of, or in connection with efforts to relet, the Premises, or any portion thereof, or the appointment of a receiver upon Landlord’s initiative to protect Landlord’s interest under this Lease shall not terminate Tenant’s right to possession of the Premises or any portion thereof and, until Landlord does elect to terminate this Lease, this Lease shall continue in full force and Landlord may pursue all its remedies hereunder including, without limitation, the right to recover from Tenant as they become due hereunder all rent and other charges required to be paid by XxxxxxTenant under the terms of this Lease.
20.5 In the event of any default by Tenant as set forth above, then in addition to the remedies described in § 9.3 and any other remedies available to Landlord at law or in equityequity or under this Lease, Landlord has shall have the right to bring an action or actions from time to time against Tenant, in any court of competent jurisdiction, for all rental and other sums due or becoming due under this Lease, including all damages and costs proximately caused thereby, notwithstanding Tenant’s abandonment or vacation of the Premises or other acts of Tenant, as permitted by Section 1951.4 of the California Civil Code or any successor, related or similar provision of law. Such remedy may be exercised by Landlord without prejudice to its right thereafter to terminate this Lease upon not less than 60 days prior written notice to Tenant; providedin accordance with the other provisions contained in this Section 20. Notwithstanding any contrary provision of this Lease, however, that Tenant shall in the case of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains no event be liable for consequential damages arising out of such Event of Default, as provided in this Leasehereunder.
(b) Upon termination of this Lease by Landlord pursuant to this § 9.2, Tenant must pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises for a period that is equal to, shorter, or longer than the Term.
Appears in 1 contract
Remedies of Landlord. (a) Upon the occurrence of an Event any event of Default default by XxxxxxTenant, Landlord shall have the options without any notice to Tenant (except as expressly provided below) and with or without judicial process, to pursue any one or more of the following remedies:
(i) Landlord may terminate this Lease, in addition which event Tenant shall immediately surrender the Premises to Landlord.
(ii) Landlord may enter upon and take custodial possession of the remedies described in § 9.3 Premises by picking the locks if necessary, lock out or remove Tenant and any other remedies available person occupying the Premises and alter the locks and other security devices at the Premises, all without Landlord being deemed guilty of trespass or becoming liable for any resulting loss or damage and without causing a termination or forfeiture of this Lease or of the Tenant’s obligation to pay rent. Landlord shall not, in the event of a lockout by the changing of locks, be required to provide new keys to Tenant.
(iii) Landlord may enter the Premises and take possession of and remove any and all trade fixtures and personal property situated on the Premises, without liability for trespass or conversion. Landlord may retain control over all such property for the purpose of foreclosing the liens and security interests described in Paragraph 23 below by public or private sale. If Landlord takes possession of and removes personal property from the Premises, then prior to any disposition of the property by sale or until Tenant reclaims the property if no foreclosure by public or private sale is contemplated, Landlord may store it in a public warehouse or elsewhere at the cost of and for the account of Tenant without the resort to legal process and without becoming liable for any resulting loss or damage.
(iv) Landlord may perform on behalf of Tenant any obligation of Tenant under this Lease which Tenant has failed to perform, and the cost of the performance will be deemed additional rental and will be payable by Tenant to Landlord upon demand. Landlord’s pursuit of any remedy specified in this Lease will not constitute an election to pursue that remedy only, nor preclude Landlord from pursuing any other remedy available at law or in equity, Landlord has the right to terminate this Lease upon not less than 60 days prior written notice to Tenant; provided, however, that in the case nor constitute a forfeiture or a waiver of a non-monetary Event of Default by Tenant that poses an immediate threat to the health any rent or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises other amount due to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in this Leasedescribed below.
(b) In the event Landlord enters and takes possession of the Premises without electing to terminate this Lease, Landlord will have the right to relet the Premises for Tenant, in the name of Tenant or Landlord or otherwise, on such terms as Landlord deems advisable. But Landlord will not be required to incur any expense to relet the Premises, and the failure of Landlord to relet the Premises shall not reduce Tenant’s liability for monthly rentals and other charges due under this Lease or for damages. Landlord will not be obligated to relet for less than the then market value of the Premises or to relet the Premises when other comparable rental property owned by Landlord or its affiliates is available for lease in the vicinity of the Building.
(c) No re-entry or reletting of the Premises or any filing or service of an unlawful detainer action or similar action will be construed as an election by Landlord to terminate or accept a forfeiture of this Lease or to accept a surrender of the Premises after an event of default by Tenant, unless a written notice of such intention is given by Landlord to Tenant; but notwithstanding any such action without such notice, Landlord may at any time thereafter elect to terminate this Lease by notifying Tenant.
(d) Upon the termination of this Lease, Landlord will be entitled to recover all unpaid rentals that have accrued through the date of termination plus the costs of performing any of Tenant’s obligations (other than the payment of rent) that should have been but were not satisfied as of the date of such termination. In addition, Landlord will be entitled to recover, not as rent or a penalty but as compensation for Landlord’s loss of the benefit of its bargain with Tenant, the difference between (i) an amount equal to the present value of the rental and other sums that this Lease provides Tenant will pay for the remainder of the Term and for the balance of any then effective extension of the Term, and (ii) the present value of the net future rentals for such period that will be or with reasonable efforts could be collected by Landlord pursuant by reletting the Premises. For purposes of determining what could be collected by Landlord by reletting under the preceding sentence, it will be assumed that Landlord is not required to this § 9.2relet when other comparable space in the vicinity of the Building is offered by Landlord for lease and that Landlord will not be required to incur any cost to relet, other than customary leasing commissions.
(e) After an event of default by Tenant, Landlord may recover from Tenant must from time to time and Tenant shall pay to Landlord Rent payable upon demand, whether or not Landlord has relet the Premises or terminated this Lease, (i) such expenses as Landlord may incur in recovering possession of the Premises, terminating this Lease, placing the Premises in good order and condition and altering or repairing the same for reletting; (ii) all other costs and expenses (including brokerage commissions and legal fees) paid or incurred by Tenant Landlord in exercising any remedy or as a result of the event of default by Tenant; and (iii) any other amount necessary to compensate Landlord up for all the detriment proximately caused by Tenant’s failure to the Expiration Date, and Xxxxxx remains liable for any breach of perform Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of Rent remaining or which in the Termordinary course of things would be likely to result from such failure.
(cf) Tenant must pay Rent in In the same manner, event that any future amount owing to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts Landlord or offsetting an amount owing to Landlord is to be paid by Tenant pursuant discounted to present value under this Lease, the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must present value shall be determined by deducting from discounting at the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting rate of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises for a period that is equal to, shorter, or longer than the Term8 percent per annum.
Appears in 1 contract
Samples: Lease Agreement (Protective Products of America, Inc.)
Remedies of Landlord. 17.2.1 If Tenant fails to perform any duty or obligation of Tenant under this Lease, Landlord may at its option after ten (a10) Upon the occurrence of an Event days written notice, without waiver of Default nor any other right or remedy, perform any such duty or obligation on Tenant’s behalf. The reasonable costs and expenses of any such performance by XxxxxxLandlord will be immediately due and payable by Tenant upon receipt from Landlord of the reimbursement amount required.
17.2.2 Upon a Default, with or without notice or demand, and without limiting any other of Landlord’s rights or remedies, Landlord may:
a. Terminate this Lease, in addition which case Tenant shall immediately surrender the Leased Premises to Landlord. If Tenant fails to surrender the remedies described Leased Premises, Landlord, in § 9.3 compliance with Law, may enter upon and take possession of the Leased Premises and remove Tenant, Tenant’s Property and any party occupying the Leased Premises. Tenant shall pay Landlord, on demand, all past due Rent and other remedies available losses and damages Landlord suffers as a result of Tenant’s Default, including, without limitation, an amount equal to all Costs of Reletting (defined below) plus an amount equal to any deficiency that may arise from the total rent that Tenant would have been required to pay for the remainder of the Term had the Lease remained in effect, discounted to present value at the Prime Rate (as defined herein) then in effect minus the rents actually received by Landlord, if any, in connection with reletting the Leased Premises. “Costs of Reletting” shall include all reasonable costs and expenses incurred by Landlord at law in reletting or in equityattempting to relet the Leased Premises, Landlord has including, without limitation, legal fees, unamortized brokerage commissions, the unamortized cost of alterations and the value of other unamortized concessions or unamortized allowances granted to a new tenant.
b. Terminate Tenant’s right to terminate this Lease upon possession of the Leased Premises and, in compliance with Law, remove Tenant, Tenant’s Property and any parties occupying the Leased Premises. Landlord may (but shall not less than 60 days prior written be obligated to) relet all or any part of the Leased Premises, without notice to Tenant; provided, howeverfor such period of time and on such terms and conditions (which may include concessions, free rent and work allowances) as Landlord in its absolute discretion shall determine. Landlord may collect and receive all rents and other income from the reletting. Tenant shall pay Landlord on demand all past due Rent, all Costs of Reletting and any an amount equal to any deficiency arising from the total rent that Tenant would have been required to pay for the remainder of the Term, discounted to present value at the Prime Rate then in effect minus the case rents actually received by Landlord, if any, in connection with reletting the Leased Premises. The re-entry or taking of a non-monetary Event possession of Default the Leased Premises shall not be construed as an election by Tenant that poses an immediate threat Landlord to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in terminate this Lease.
(b) Upon termination of this Lease by Landlord pursuant to this § 9.2, Tenant must pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for c. Pursue any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs other remedy now or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay hereafter available to Landlord under this Leasethe laws or judicial decisions of the state wherein the Leased Premises is located. If Landlord terminates this Lease Neither party shall be liable to the other for consequential or other indirect damages of the other (including, without limitation, lost profits or business interruption) unless the damages arise from or are approximately caused by reason willful breach, criminal act, gross negligence and/or intentional tort of an Event the acting party.
17.2.3 In lieu of Default by Xxxxxxcalculating damages under Section 17.2.2, Landlord must take all reasonable steps may elect to mitigate Landlord’s damages, including making reasonable efforts to relet receive as damages the Premises for a period that is equal to, shorter, or longer than the Term.following:
Appears in 1 contract
Samples: Lease Agreement (Transcat Inc)
Remedies of Landlord. Upon any Event of Default, Landlord may, at Landlord’s option in its sole discretion, and in addition to all other rights, remedies and recourses afforded Landlord hereunder or by law or equity, do any one or more of the following:
(a) Upon the occurrence of an Event of Default by Xxxxxx, in addition to the remedies described in § 9.3 and any other remedies available to Landlord at law or in equity, Landlord has the right to terminate this Lease upon not less than 60 days prior by the giving of written notice to Tenant; providedreenter the Premises, howeverwith or without process of law; eject all parties in possession thereof; repossess and enjoy the Premises and all Tenant Improvements; and recover from Tenant all of the following: (i) all Rent and other amounts accrued hereunder to the date of termination, (ii) all amounts due under Section 24.3, and (iii) liquidated damages in an amount equal to (A) the total Rent that Tenant would have been required to pay for the remainder of the Term discounted to present value at the prime lending rate (or equivalent rate, however denominated) in effect on the date of termination at the largest national bank in the case state where the Complex is located, minus (B) the then-present fair rental value of a non-monetary Event of Default the Premises for such period, similarly discounted, plus any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant that poses an immediate threat Tenant’s failure to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, perform its obligations under this Lease comes or which would be likely to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixedresult therefrom, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7including, but Xxxxxx remains liable for damages arising out of such Event of Defaultwithout limitation, as provided in this Lease.attorneys’ fees, brokers’ commissions or finder’s fees;
(b) Upon termination terminate Tenant’s right to possession of the Premises without terminating this Lease by Landlord pursuant the giving of written notice to this § 9.2Tenant, in which event Tenant must shall pay to Landlord (i) all Rent payable by Tenant to Landlord up and other amounts accrued hereunder to the Expiration Datedate of termination of possession, (ii) all amounts due from time to time under Section 24.3, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of (iii) all Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts other sums required hereunder to be paid by Tenant during the remainder of the Term, diminished by any net sums thereafter received by Landlord through reletting the Premises during said period. Reentry by Landlord in the Premises will not affect the obligations of Tenant hereunder for the unexpired Term. Landlord may bring action against Tenant to collect amounts due by Tenant on one or more occasions, without the necessity of Landlord’s waiting until expiration of the Term. If Landlord elects to proceed under this Section 24.2(b), it may at any time elect to terminate this Lease pursuant to Section 24.2(a);
(c) alter any and all locks and other security devices at the preceding sentencePremises without being obligated to deliver new keys to the Premises, unless Tenant has cured all Events of Default before Landlord must credit Tenant with the net rents that Landlord actually receives from has terminated this Lease under Section 24.2(a) or has entered into a reletting lease to relet all or a portion of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of ;
(d) if an Event of Default by Xxxxxxspecified in Section 24.1(c) occurs, Landlord must take all reasonable steps may remove and store any property that remains on the Premises and, if Tenant does not claim such property within thirty (30) days after Landlord has delivered to mitigate Tenant notice of such storage, Landlord may appropriate, sell, destroy or otherwise dispose of the property in question without notice to Tenant or any other person, and without any obligation to account for such property; and/or
(e) no taking possession of the Premises by Landlord shall be construed as Landlord’s damages, including making reasonable efforts to relet acceptance of a surrender of the Premises by Tenant or an election of Landlord to terminate this Lease unless written notice of such intention is given to Tenant. Notwithstanding any leasing or subletting without termination of the Lease, Landlord may at any time thereafter elect to terminate the Lease for a period that is equal to, shorter, or longer than the TermTenant’s previous breach.
Appears in 1 contract
Remedies of Landlord. (a) Upon the occurrence of an any Tenant Event of Default by XxxxxxDefault, Landlord may exercise any one or more of the following described remedies, in addition to the all other rights and remedies described in § 9.3 and any other remedies available to Landlord provided at law or in equity:
A. Terminate this Lease Agreement by written notice to Tenant and forthwith repossess the Leased Premises and be entitled to recover forthwith as damages a sum of money equal to the total of (i) the cost of recovering the Leased Premises (including attorneys' fees and costs of suit), (ii) the cost of removing and storing any personal property, (iii) the unpaid Rent earned at the time of termination, plus interest thereon at the rate described in Section 5, (iv) the present value (discounted at the rate of eight percent (8%) per annum) of the balance of the Rent for the remainder of the Term less the present value (discounted at the same rate) of the fair market rental value of the Leased Premises for said period, taking into account the period of time the Leased Premises will remain vacant until a new tenant is obtained, and the cost to prepare the Leased Premises for occupancy and the other costs (such as leasing commissions, tenant improvement allowances and attorneys' fees) to be incurred by Landlord in connection therewith, and (v) any other sum of money and damages owed by Tenant to Landlord under this Lease Agreement.
B. Terminate Tenant's right of possession (but not this Lease Agreement) and may repossess the Leased Premises by forcible detainer suit or otherwise, without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant and without terminating this Lease Agreement. Landlord shall use reasonable efforts under the circumstances to mitigate its damages, including reletting the Leased Premises on such terms and conditions as Landlord in its reasonable discretion may determine (which may including a term different than the Term, rental concessions, alterations and repair of the Leased Premises); provided, however, Landlord has hereby reserves the right (i) to lease any other comparable space available in the Building or in any adjacent building owned by Landlord prior to offering the Leased Premises for lease, and (ii) to refuse to lease the Leased Premises to any potential tenant which does not meet Landlord's standards and criteria for leasing other comparable space in the Building. For the purpose of such reletting Landlord shall have the right to decorate or to make any repairs, changes, alterations or additions in or to the Leased Premises as may be reasonably necessary or desirable. In the event that (i) Landlord shall fail to relet the Leased Premises, or (ii) the Leased Premises are relet and a sufficient sum shall not be realized from such reletting (after first deducting therefrom, for retention by Landlord, the unpaid Rent due hereunder earned but unpaid at the time of reletting plus interest thereon at the rate specified in Section 5, the cost of recovering possession (including attorneys' fees and costs of suit), all of the costs and expenses of such decorations, repairs, changes, alterations and additions, the expense of such reletting and the cost of collection of the rent accruing therefrom) to satisfy the Rent, then Tenant shall pay to Landlord as damages a sum equal to the amount of such deficiency. Any such payments due Landlord shall be made upon demand therefor from time to time and Tenant agrees that Landlord may file suit to recover any sums falling due under the terms of this Section 16 from time to time. No delivery to or recovery by Landlord of any portion due Landlord hereunder shall be any defense in any action to recover any amount not theretofore reduced to judgment in favor of Landlord, nor shall such reletting be construed as an election on the part of Landlord to terminate this Lease upon not less than 60 days prior Agreement unless a written notice of such intention be given to Tenant by Landlord. Notwithstanding any such termination of Tenant's right of possession of the Leased Premises, Landlord may at any time thereafter elect to terminate this Lease Agreement. In any proceedings to enforce this Lease Agreement under this Section 16, Landlord shall be presumed to have used its reasonable efforts to relet the Leased Premises, and Tenant shall bear the burden of proof to establish that such reasonable efforts were not used.
C. Alter any and all locks and other security devices at the Leased Premises, and if it does so Landlord shall not be required to provide a new key or other access right to Tenant unless Tenant has cured all Events of Default; provided, however, that in any such instance, during Landlord's normal business hours and at the case convenience of a non-monetary Event Landlord, and upon the written request of Default Tenant accompanied by such written waivers and releases as Landlord may require, Landlord will escort Tenant or its authorized personnel to the Leased Premises to retrieve any personal belongings or other property of Tenant not subject to the Landlord's lien or security interest described in Section 17. The provisions of this Section 16.0 are intended to override and control any conflicting provisions of the Texas Property Code.
D. All agreements and provisions to be performed by Tenant that poses an immediate threat to under any of the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in this Lease.
(b) Upon termination terms of this Lease by Landlord pursuant to this § 9.2, Agreement shall be at Tenant's sole cost and expense and without any abatement of Rent. If Tenant must pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable shall fail to pay Landlordany sum of money, as damagesother than Base Rent, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts required to be paid by it hereunder and such failure shall continue for ten (10) days after notice thereof by Landlord, or should Tenant pursuant fail to perform any other obligation hereunder and such failure shall continue for thirty (30) days after notice thereof by Landlord (subject to the preceding sentenceprovision in Section 15.B above regarding matters that cannot be reasonably cured within 30 days) then Landlord may, but shall not be obligated so to do, and without waiving or releasing Tenant from any obligations, make any such payment or perform any such act on Tenant's part. All sums so paid by Landlord must credit Tenant with and all costs incurred by Landlord in taking such action shall be deemed Additional Rent hereunder and shall be paid to Landlord on demand, and Landlord shall have (in addition to all other rights and remedies of Landlord) the net rents that Landlord actually receives from a reletting same rights and remedies in the event of the Premises. Net rents must be determined nonpayment thereof by deducting from Tenant as in the gross rents, as case of default by Tenant in the payment of Rent.
E. Landlord covenants and when Landlord receives the gross rents from such reletting, the agrees to use commercially reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable efforts to the Term. In no event is mitigate Landlord's damages if a Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxxoccurs. Notwithstanding, Tenant agrees in favor of Landlord must take all reasonable steps that Landlord shall not be deemed to have failed to mitigate Landlord’s damages, including making reasonable or to have used the efforts required by law to do so, because:
(1) Landlord leases other space in the Building prior to re-letting the Leased Premises;
(2) Landlord refuses to relet the Leased Premises for a period that is equal to, shorterto any affiliate of Tenant, or longer than any principal of Tenant, or any affiliate of such principal (for purposes of this Lease, "affiliate" shall mean and refer to any person or entity controlling, under common control with, or controlled by, the Termparty in question);
(3) Landlord refuses to relet the Leased Premises to any person or entity whose creditworthiness Landlord in good xxxxx xxxxx unacceptable;
(4) Landlord refuses to relet the Leased Premises to any person or entity because such use would, in the good faith opinion of Landlord, impose unreasonable or excessive demands upon the Building;
(5) Landlord refuses to relet the Leased Premises to any person or entity, or any affiliate of such person or entity, who has been engaged in litigation with, or who has threatened litigation against, Landlord or any of its affiliates, or whom Landlord in good xxxxx xxxxx to be unreasonably or excessively litigious;
(6) Landlord refuses to relet the Leased Premises because the tenant or the terms and provisions of the proposed lease are not approved by the holders of any liens or security interests in the Building or any part thereof, or would cause Landlord to breach or be in default of, or to be unable to perform any of its covenants under, any agreements between Landlord and any third party;
(7) Landlord refuses to relet the Leased Premises because the proposed tenant is unwilling to execute and deliver Landlord's standard lease form without substantial tenant-oriented modifications or such tenant requires improvements to the Leased Premises to be paid at Landlord's cost and expense; or
(8) Landlord refuses to relet the Leased Premises to a person or entity whose character or reputation, or the nature of whose business, Landlord in good xxxxx xxxxx unacceptable; and it is further agreed that each and all of the grounds for refusal set forth in clauses (1) through (8) above, both inclusive, of this sentence are reasonable grounds for Landlord's refusal to relet the Leased Premises, or (as to all other provisions of this Lease Agreement) for Landlord's refusal to issue any approval, or take any other action, of any nature whatsoever under this Lease Agreement. In the event the waiver set forth in this Section 16.E shall be ineffective, Tenant further agrees in favor of Landlord, to the maximum extent to which it may lawfully and effectively do so, that the following efforts to mitigate damages if made by Landlord (and without obligating Landlord to render such efforts) shall be conclusively deemed reasonable, and that Landlord shall be conclusively deemed to have used the efforts to mitigate damages required by applicable law it Landlord places the Leased Premises on its inventory of available space in the Building; Landlord makes such inventory available to brokers who request same; and Landlord shows the Leased Premises to prospective tenants (or their brokers) who request to see it.
Appears in 1 contract
Samples: Lease Agreement (TaxMasters, Inc.)
Remedies of Landlord. Upon any Event of Default, Landlord may, at Landlord's option in its sole discretion, and in addition to all other rights, remedies and recourses afforded Landlord hereunder or by law or equity, do any one or more of the following:
(a) Upon the occurrence of an Event of Default by Xxxxxx, in addition to the remedies described in § 9.3 and any other remedies available to Landlord at law or in equity, Landlord has the right to terminate this Lease upon not less than 60 days prior by the giving of written notice to Tenant; providedreenter the Premises, howeverwith or without process of law; eject all parties in possession thereof; repossess and enjoy the Premises and all tenant improvements; and recover from Tenant all of the following: (i) all Rent and other amounts accrued hereunder to the date of termination, (ii) all amounts due under Section 24.3, and (iii) liquidated damages in an amount equal to (A) the total Rent that Tenant would have been required to pay for the remainder of the Term discounted to present value at the prime lending rate (or equivalent rate, however denominated) in effect on the date of termination at the largest national bank in the case state where the Complex is located, minus (B) the then-present fair rental value of a non-monetary Event of Default the Premises for such period, similarly discounted, plus any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant that poses an immediate threat Tenant's failure to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, perform its obligations under this Lease comes or which would be likely to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixedresult therefrom, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7including, but Xxxxxx remains liable for damages arising out of such Event of Defaultwithout limitation, as provided in this Lease.attorneys' fees, brokers' commissions or finder's fees;
(b) Upon termination terminate Tenant's right to possession of the Premises without terminating this Lease by Landlord pursuant the giving of written notice to this § 9.2Tenant, in which event Tenant must shall pay to Landlord (i) all Rent payable by Tenant to Landlord up and other amounts accrued hereunder to the Expiration Datedate of termination of possession, (ii) all amounts due from time to time under Section 24.3, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of (iii) all Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts other sums required hereunder to be paid by Tenant during the remainder of the Term, diminished by any net sums thereafter received by Landlord through reletting the Premises during said period. Reentry by Landlord in the Premises will not affect the obligations of Tenant hereunder for the unexpired Term. Landlord may bring action against Tenant to collect amounts due by Tenant on one or more occasions, without the necessity of Landlord's waiting until expiration of the Term. If Landlord elects to proceed under this Section 24.2(b), it may at any time elect to terminate this Lease pursuant to Section 24.2(a);
(c) alter any and all locks and other security devices at the preceding sentencePremises without being obligated to deliver new keys to the Premises, unless Tenant has cured all Events of Default before Landlord must credit Tenant with the net rents that Landlord actually receives from has terminated this Lease under Section 24.2(a) or has entered into a reletting lease to relet all or a portion of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of ;
(d) if an Event of Default by Xxxxxxspecified in Section 24.1(c) occurs, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet may remove and store any property that remains on the Premises and, if Tenant does not claim such property within thirty (30) days after Landlord has delivered to Tenant notice of such storage, Landlord may appropriate, sell, destroy or otherwise dispose of the property in question without notice to Tenant or any other person, and without any obligation to account for such property; and/or
(e) no taking possession of the Premises by Landlord shall be construed as Landlord's acceptance of a period that surrender of the Premises by Tenant or an election of Landlord to terminate this Lease unless written notice of such intention is equal togiven to Tenant. Notwithstanding any leasing or subletting without termination of the Lease, shorter, or longer than Landlord may at any time thereafter elect to terminate the TermLease for Tenant's previous breach.
Appears in 1 contract
Remedies of Landlord. Upon any Event of Default, Landlord may, at Landlord’s option in its sole discretion, and in addition to all other rights, remedies and recourses afforded Landlord hereunder or by law or equity, do any one or more of the following:
(a) Upon the occurrence of an Event of Default by Xxxxxx, in addition to the remedies described in § 9.3 and any other remedies available to Landlord at law or in equity, Landlord has the right to terminate this Lease upon not less than 60 days prior by the giving of written notice to Tenant; providedreenter the Premises, howeverwith or without process of law; eject all parties in possession thereof; repossess and enjoy the Premises and all Tenant Improvements; and recover from Tenant all of the following: (i) all Rent and other amounts accrued hereunder to the date of termination, (ii) all amounts due under Section 24.3, and (iii) liquidated damages in an amount equal to (A) the total Rent that Tenant would have been required to pay for the remainder of the Term discounted to present value at the prime lending rate (or equivalent rate, however denominated) in effect on the date of termination at the largest national bank in the case state where the Complex is located, minus (B) the then–present fair rental value of a non-monetary Event of Default the Premises for such period, similarly discounted, plus any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant that poses an immediate threat Tenant’s failure to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, perform its obligations under this Lease comes or which would be likely to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixedresult therefrom, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7including, but Xxxxxx remains liable for damages arising out of such Event of Defaultwithout limitation, as provided in this Lease.attorneys’ fees, brokers’ commissions or finder’s fees;
(b) Upon termination terminate Tenant’s right to possession of the Premises without terminating this Lease by Landlord pursuant the giving of written notice to this § 9.2Tenant, in which event Tenant must shall pay to Landlord (i) all Rent payable by Tenant to Landlord up and other amounts accrued hereunder to the Expiration Datedate of termination of possession, (ii) all amounts due from time to time under Section 24.3, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of (iii) all Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts other sums required hereunder to be paid by Tenant during the remainder of the Term, diminished by any net sums thereafter received by Landlord through reletting the Premises during said period. Reentry by Landlord in the Premises will not affect the obligations of Tenant hereunder for the unexpired Term. Landlord may bring action against Tenant to collect amounts due by Tenant on one or more occasions, without the necessity of Landlord’s waiting until expiration of the Term. If Landlord elects to proceed under this Section 24.2(b), it may at any time elect to terminate this Lease pursuant to Section 24.2(a);
(c) without notice, alter any and all locks and other security devices at the preceding sentencePremises without being obligated to deliver new keys to the Premises, unless Tenant has cured all Events of Default before Landlord must credit Tenant with the net rents that Landlord actually receives from has terminated this Lease under Section 24.2(a) or has entered into a reletting lease to relet all or a portion of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of ;
(d) if an Event of Default by Xxxxxxspecified in Section 24.1(c) occurs, Landlord must take may remove and store any property that remains on the Premises and, if Tenant does not claim such property within ten (10) days after Landlord has delivered to Tenant notice of such storage, Landlord may appropriate, sell, destroy or otherwise dispose of the property in question without notice to Tenant or any other person, and without any obligation to account for such property; and/or
(e) for all reasonable steps to mitigate purposes set forth in this paragraph 24.2, Landlord is hereby irrevocably appointed as agent for Tenant. No taking possession of the Premises by Landlord shall be construed as Landlord’s damages, including making reasonable efforts to relet acceptance of a surrender of the Premises by Tenant or an election of Landlord to terminate this Lease unless written notice of such intention is given to Tenant. Notwithstanding any leasing or subletting without termination of the Lease, Landlord may at any time thereafter elect to terminate the Lease for a period that is equal to, shorter, or longer than the TermTenant’s previous breach.
Appears in 1 contract
Samples: Lease Agreement (Overstock Com Inc)
Remedies of Landlord. Upon any Event of Default, Landlord may, at Landlord’s option in its sole discretion, and in addition to all other rights, remedies and recourses afforded Landlord hereunder or by law or equity, do any one or more of the following:
(a) Upon the occurrence of an Event of Default by Xxxxxx, in addition to the remedies described in § 9.3 and any other remedies available to Landlord at law or in equity, Landlord has the right to terminate this Lease upon not less than 60 days prior by the giving of written notice to Tenant; providedreenter the Premises, howeverwith or without process of law; eject all parties in possession thereof; repossess and enjoy the Premises and all Tenant Improvements; and recover from Tenant all of the following: (i) all Rent and other amounts accrued hereunder to the date of termination, (ii) all amounts due under Section 24.3, and (iii) liquidated damages in an amount equal to (A) the total Rent that Tenant would have been required to pay for the remainder of the Term discounted to present value at the prime lending rate (or equivalent rate, however denominated) in effect on the date of termination at the largest national bank in the case state where the Complex is located, minus (B) the then-present fair rental value of a non-monetary Event of Default the Premises for such period, similarly discounted, plus any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant that poses an immediate threat Tenant’s failure to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, perform its obligations under this Lease comes or which would be likely to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixedresult therefrom, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7including, but Xxxxxx remains liable for damages arising out of such Event of Defaultwithout limitation, as provided in this Lease.attorneys’ fees, brokers’ commissions or finder’s fees;
(b) Upon termination terminate Tenant’s right to possession of the Premises without terminating this Lease by Landlord pursuant the giving of written notice to this § 9.2Tenant, in which event Tenant must shall pay to Landlord (i) all Rent payable by Tenant to Landlord up and other amounts accrued hereunder to the Expiration Datedate of termination of possession, (ii) all amounts due from time to time under Section 24.3, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of (iii) all Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts other sums required hereunder to be paid by Tenant during the remainder of the Term, diminished by any net sums thereafter received by Landlord through reletting the Premises during said period. Reentry by Landlord in the Premises will not affect the obligations of Tenant hereunder for the unexpired Term. Landlord may bring action against Tenant to collect amounts due by Tenant on one or more occasions, without the necessity of Landlord’s waiting until expiration of the Term. If Landlord elects to proceed under this Section 24.2(b), it may at any time elect to terminate this Lease pursuant to Section 24.2(a);
(c) alter any and all locks and other security devices at the preceding sentencePremises without being obligated to deliver new keys to the Premises, unless Tenant has cured all Events of Default before Landlord must credit Tenant with the net rents that Landlord actually receives from has terminated this Lease under Section 24.2(a) or has entered into a reletting lease to relet all or a portion of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of ;
(d) if an Event of Default by Xxxxxxspecified in Section 24.1(c) occurs, Landlord must take all reasonable steps may remove and store any property that remains on the Premises and, if Tenant does not claim such property within ten (10) days after Landlord has delivered to mitigate Tenant notice of such storage, Landlord may appropriate, sell, destroy or otherwise dispose of the property in question without notice to Tenant or airy other person, and without any obligation to account for such property; and/or
(e) no taking possession of the Premises by Landlord shall be construed as Landlord’s damages, including making reasonable efforts to relet acceptance of a surrender of the Premises by Tenant or an election of Landlord to terminate this Lease unless written notice of such intention is given to Tenant. Notwithstanding any leasing or subletting without termination of the Lease, Landlord may at any time thereafter elect to terminate the Lease for a period that is equal to, shorter, or longer than the TermTenant’s previous breach.
Appears in 1 contract
Samples: Lease Agreement (Skullcandy, Inc.)
Remedies of Landlord. In the event of a default by Tenant, Landlord shall have the following rights and remedies in addition to all other rights and remedies otherwise available to Landlord:
(a) Upon the occurrence of an Event of Default by Xxxxxx, in addition Landlord shall be entitled to the remedies described in § 9.3 and any other remedies available to Landlord at law or in equity, Landlord has the right to terminate this Lease upon not less than 60 days prior written immediately accelerate without further notice to Tenant; provided, however, that in Tenant the case full balance of a non-monetary Event the rent payable for the remainder of Default by Tenant that poses an immediate threat to the health or safety term of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in this Lease.
(b) Upon termination Landlord shall have the immediate right of re-entry and may remove all persons and property from the Leased Premises. Such property may be removed and stored at the cost of Tenant. Should Landlord elect to re-enter as herein provided, or should Landlord take possession pursuant to legal proceedings, Landlord may either terminate this Lease or, from time to time, without terminating this Lease, relet the Leased Premises or any part thereof for such term or terms (which may be for a term extending beyond the term of this Lease by Landlord pursuant Lease) and at such rental or rentals and upon such other terms and conditions as Landlord, in the exercise of its sole discretion, deems advisable, with the right to this § 9.2, Tenant must pay to Landlord Rent payable by Tenant to Landlord up make alterations and repairs to the Expiration DateLeased Premises. Upon each such reletting, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, (i) Tenant is shall be immediately liable to pay to Landlord, as damagesin addition to any indebtedness other than rent due hereunder, the aggregate cost and expense of Rent remaining such reletting and of any such alterations and repairs incurred by Landlord, and the amount, if any, by which the rent reserved in this Lease for the Termperiod of the reletting as accelerated under subparagraph (a) of this Paragraph, exceeds the amount agreed to be paid for rent for the Leased Premises by the reletting Tenant; or (ii) at the option of Landlord, rents 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 and of such alterations and repairs; third, to the payment of rent unpaid hereunder; and the residue, if any, held by Landlord and applied in payment of future unaccelerated rent as the same may become due and payable hereunder.
(c) Landlord may immediately sxx to recover from Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, all damages Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease may incur by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damagesTenant's default, including making reasonable efforts the cost of recovering the Leased Premises, and including the rent reserved and charged in this Lease for the remainder of the stated term as accelerated under Subparagraph (a), all of which shall be immediately due and payable along with attorneys fees and Landlord shall have no obligation to relet the Premises for a period that is equal to, shorter, or longer than the Termrelet.
Appears in 1 contract
Remedies of Landlord. (a) Upon the occurrence of an Event any of Default by Xxxxxxthe events of default listed in Paragraph 23, in addition Landlord, without prejudice to any legal, equitable, or other (including contractual) right or remedy to which it may be entitled, shall have the option to pursue any one or more of the following remedies described in § 9.3 without notice or demand whatsoever (and using lawful force if necessary or appropriate after providing written notice thereof, if any is required):
A. Terminate this Lease or any of Tenant's rights under this Lease, with or without reentering or repossessing the Leased Premises.
B. Terminate Tenant's right to occupy all or any part of the Premises without terminating this Lease and with or without reentering or repossessing the Premises.
C. Recover unpaid rent and any Breach Damages (as “Breach Damages” are defined in this Paragraph 24, below).
D. Change or pick the locks, access codes, or other access control devices, and take any other self-help or judicial action to exclude Tenant and other occupants from the Premises.
E. Remove and store (at Tenant's sole cost) any property on the Premises at Tenant's sole cost.
F. Xxx for eviction, specific enforcement, equitable relief, rent, damages, or any other available remedy.
G. Apply the Security Deposit in any manner permitted by this Lease, and/or increase the amount of the Security Deposit.
H. Cure Tenant's default, and if Landlord so elects, Tenant must reimburse Landlord within thirty (30) days after Landlord delivers an invoice for the cure amounts paid or to be paid plus any reasonable expenses Landlord incurred effecting compliance with Tenant's obligations.
I. Withhold or suspend any payment that this Lease would otherwise require Landlord to make.
J. Charge interest on any amount not paid when due through the date of its payment at the Default Interest Rate (as set forth in Paragraph 40).
K. Recover, but only if Tenant fails to pay Rent and Landlord terminates this Lease or Tenant's right of possession with more than twelve (12) months remaining in the Term of this Lease, liquidated rental damages for the period after any such termination equal to twelve (12) times the monthly Rent due at the time of termination in lieu of any other contractual or legal measure of damages (including re-letting costs) for Tenant's non-payment of Rent, and the parties agree this is a reasonable estimate of Landlord's damages for such a breach given the uncertainty of future market rental rates and of the duration of any vacancy.
L. Exercise all other remedies available to Landlord at law or Law, in equity, Landlord has the right to terminate this Lease upon not less than 60 days prior written notice to Tenant; providedor otherwise (including, howeverwithout limitation, that in the case of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully injunctive relief and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in this Leaseany other remedy available under applicable Law).
(b) Upon termination of this Lease by Landlord pursuant to this § 9.2, Tenant must pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises for a period that is equal to, shorter, or longer than the Term.
Appears in 1 contract
Samples: Conventional Hangar Lease for Commercial Aviation Use
Remedies of Landlord. (a) Upon the occurrence of an Event any event of Default by Xxxxxxdefault set forth in Section 15.01, Landlord shall have the following rights and remedies, in addition to those allowed by law, any one or more of which may be exercised without further notice to or demand upon Tenant:
A. Landlord may re-enter the remedies described Leased Premises and cure any default of Tenant, in § 9.3 which event Tenant shall reimburse Landlord as additional rent for any costs and expenses which Landlord may incur to cure such default; and Landlord shall not be liable to Tenant for any other remedies available to loss or damage which Tenant may sustain by reason of Landlord's action, regardless of whether caused by Landlord's negligence or otherwise.
B. 1. Landlord at law or in equity, Landlord has the right to may terminate this Lease upon not less than 60 days prior written notice as of the date of such default, in which event (i) neither Tenant nor any person claiming under or through Tenant shall thereafter be entitled to Tenantpossession of the Leased Premises, and Tenant shall immediately thereafter surrender the Leased Premises to Landlord; provided(ii) Landlord may re-enter the Leased Premises and dispossess Tenant or any other occupants of the Leased Premises by any means permitted by law, howeverand may remove their effects, that without prejudice to any other remedy which Landlord may have for possession or arrearages in rent; and (iii) notwithstanding the case termination of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of persons or propertythis Lease, Landlord has shall be entitled to recover from Tenant the right value at the time of such termination of the amount of rent and other charges equivalent to reduce said 60-day notice period to ten days. Upon rent reserved in this Lease for the remainder of the Lease Term, less the net amount of such rent and other charges for the remainder of the Lease Term which Tenant proves could reasonably be recovered by Landlord from reletting the Leased Premises under then- current and reasonably anticipated market conditions, together with all loss or damage which Landlord may sustain by reason of such termination, this Lease comes to an end as fully it being expressly understood and completely as if agreed that the Expiration Date stated in such notice were the Expiration Date originally fixed, liabilities and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided remedies specified in this Lease.
(b) Upon subsection B 1 of Section 15.02 shall survive the termination of this Lease by Landlord pursuant to this § 9.2, Tenant must pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises for a period that is equal to, shorter, or longer than the Term.; or
Appears in 1 contract
Remedies of Landlord. (a) Upon the occurrence of If an Event of Default occurs and is not thereafter cured by XxxxxxTenant prior to the Landlord’s exercise of the remedies set forth in this Section 20.2, Landlord may thereafter, either:
(a) Without further notice except as required by Applicable Laws, reenter and repossess the Premises or any part and expel Tenant and those claiming through or under Tenant and remove the effects of both without being deemed guilty of any manner of trespass and without prejudice to any remedies for arrears of Rent or preceding breach of this Lease. Should Landlord reenter or take possession pursuant to legal proceedings or any notice provided for by Applicable Law, Landlord may, from time to time, without terminating this Lease, relet the Premises or any part, either alone or in conjunction with other portions of the Building Complex, in addition to Landlord’s or Tenant’s name but for the remedies described in § 9.3 and any other remedies available to Landlord at law account of Tenant, for such periods (which may be greater or in equity, Landlord has the right to terminate this Lease upon not less than 60 days prior written notice the period which would otherwise have constituted the balance of the Term) 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 sole discretion, determines and Landlord may collect the rents therefor. Landlord is not in any way responsible or liable for failure to Tenantrelet the Premises, or any part thereof, or for any failure to collect any rent due upon such reletting; provided, however, that in the case of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in this Lease.
(b) Upon termination of this Lease by Landlord pursuant to this § 9.2, Tenant must pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents however that Landlord actually receives from a reletting of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable agrees to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making use reasonable efforts to relet the Premises for and to collect rent due upon such reletting. No such reentry or repossession or notice from Landlord shall be construed as an election by Landlord to terminate this Lease unless specific notice of such intention is given Tenant. Landlord reserves the right following any reentry and/or reletting to exercise its right to terminate this Lease by giving Tenant notice, in which event this Lease will terminate as specified in the notice.
(b) If Landlord takes possession of the Premises without terminating this Lease, Tenant shall pay Landlord (i) the Rent which would be payable if repossession had not occurred, less (ii) the net proceeds, if any, of any reletting of the Premises after deducting all of Landlord’s expenses incurred in connection with such reletting, including all repossession costs, brokerage commissions, attorneys’ fees, expenses of employees, and alteration and repair costs (collectively “Reletting Expenses”). If, in connection with any reletting, the new lease term extends beyond the Term or the premises covered thereby include other premises not part of the Premises, a period that fair apportionment of the rent received from such reletting and the Reletting Expenses, will be made in determining the net proceeds received from the reletting. In determining such net proceeds, rent concessions will also be apportioned over the term of the new lease. Tenant shall pay such amounts to Landlord monthly on the days on which the Rent would have been payable if possession had not been retaken, and Landlord is equal toentitled to receive the same from Tenant on each such day; or
(2) Give Tenant notice of termination of this Lease on the date specified and, shorteron such date, or longer than Tenant’s right to possession of the Premises shall cease and the Lease will terminate except as to Tenant’s liability as hereafter provided as if the expiration of the term fixed in such notice were the end of the Term.. If this Lease terminates pursuant to this Section, Tenant remains liable to Landlord for damages in an amount equal to the Rent which would have been owing by Tenant for the balance of the Term had this Lease not terminated, less the net proceeds, if any, of reletting of the Premises by Landlord
Appears in 1 contract
Samples: Lease (Constant Contact, Inc.)
Remedies of Landlord. (a) Upon the occurrence of an Event of Default by Xxxxxxany Tenant Default, Landlord may, at Landlord's option, and in addition to the all other rights, remedies described in § 9.3 and any other remedies available to recourses afforded Landlord hereunder or at law or in equity, Landlord has do any one or more of the right to terminate following:
(a) Terminate this Lease upon not less than 60 days prior by the giving of written notice to Tenant; provided, however, that in which event Tenant shall pay to Landlord the case sum of a non-monetary Event of Default by Tenant that poses an immediate threat (i) all Rent and other amounts accrued hereunder to the health or safety date of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this (ii) all amounts due under Section 16.03 and the total Rent that Tenant would have been required to pay for the remainder of the Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in this LeaseTerm.
(b) Upon termination Terminate Tenant's right to possession of the Leased Premises without terminating this Lease by Landlord pursuant the giving of written notice to this § 9.2Tenant, in which event Tenant must shall pay to Landlord (i) all Rent payable and other amounts accrued hereunder to the date of termination of possession, (ii) all amounts due from time to time under Section 16.03 and (iii) all Rent and other sums required hereunder to be paid by Tenant during the remainder of the Lease Term, diminished by any sums thereafter received by Landlord through reletting the Leased Premises during said period. Reentry by Landlord in the Leased Premises will not affect the obligations of Tenant hereunder for the unexpired Lease Term. Landlord may bring action against Tenant to collect amounts due by Tenant on one or more occasions, without the necessity of Landlord's waiting until expiration of the Lease Term. If Landlord up elects to the Expiration Date, and Xxxxxx remains liable for any breach of Tenant’s obligations proceed under this subsection (b), it may at any time elect to terminate this Lease occurring before the Expiration Date. In addition, Tenant is liable pursuant to pay Landlord, as damages, the aggregate of Rent remaining in the Termsubsection (a).
(c) Pay or perform the underlying obligation for the account of Tenant. Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises for a period that is equal to, shorter, or longer than the Term.shall
Appears in 1 contract
Samples: Commercial Lease Agreement
Remedies of Landlord. (a) Upon 18.1 In the occurrence event of an Event of Default by Xxxxxx, in addition to the remedies described in § 9.3 and any other remedies available to Landlord at law or in equity, Landlord has the right to terminate Tenant’s default under this Lease upon not less than 60 days prior written notice to Tenant; provided, however, that in the case of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7Article 17 above, but Xxxxxx remains liable for damages arising out Landlord, at Landlord’s option, and without limiting Landlord in the exercise of any other right or remedy Landlord may have on account of such Event of Defaultdefault, as provided in and without any further demand or notice, may terminate this Lease, recover possession of the Premises and/or, to the extent permitted by California Civil Code Section 1951.3 or any other law, remove all persons and property from the Premises, which property shall be stored by Landlord at a warehouse or elsewhere at the risk, expense and for the account of Tenant.
(b) Upon 18.2 On termination of this Lease as provided in Article 18.1 above, Landlord shall be entitled to recover from Tenant the aggregate of:
18.2.1 The worth at the time of the award of the unpaid Rent, as defined in Article 3.2, late charges and interest earned as of the date of the termination hereof;
18.2.2 The worth at the time of the award of the amount by which the unpaid Rent, late charges, interest and other amounts due hereunder, which would have been earned after the date of termination hereof until the time of the award, exceeds the amount of such unpaid Rent, late charges and interest that Tenant proves could have been reasonably avoided by Landlord pursuant mitigating its damages;
18.2.3 The worth at the time of the award of the amount by which the unpaid Rent for the balance of the term hereof after the time of the award exceeds the amount of such unpaid Rent, interest and late charges that Tenant proves could have been reasonably avoided by Landlord mitigating its damages; and
18.2.4 Any other amount necessary to compensate Landlord for the detriment proximately caused by Tenant’s uncured default under this § 9.2Lease, Tenant must pay including but not limited to Landlord Rent payable by Tenant to Landlord up to the Expiration Datebrokerage commissions and advertising expenses, expenses incurred for removing and Xxxxxx remains liable for storing any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of Rent property remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of on the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet remodeling the Premises for a period that new tenant and any special concessions made to obtain a new tenant.
18.3 For the purposes of this Article 18, the “time of the award” shall mean the date upon which the judgment in any action brought by Landlord against Tenant by reason of such default is equal to, shorter, entered or longer than such earlier date as the Term.court may determine; the “worth at the time of award” (referred to in Articles 18.2.1 and
Appears in 1 contract
Samples: Lease (Ritter Pharmaceuticals Inc)
Remedies of Landlord. (a) Upon In the occurrence event that during the Initial Lease Term of an Event this Lease and all Extended Terms hereof, any of the following Events of Default shall occur:
A. Tenant shall fail to pay any installment of rent by Xxxxxxthe fifth (5th) day of the month in which payment is due, in addition to the remedies described in § 9.3 no notice being required, and any other remedies available to Landlord at law or in equity, Landlord has the right to terminate this Lease upon not less than 60 days prior written notice to Tenant; provided, however, that in the case of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in this Lease.
(b) Upon termination of this Lease by Landlord pursuant to this § 9.2, Tenant must pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts sum herein specified to be paid by Tenant pursuant by the fifth (5th) day after notice from Landlord;
B. Tenant shall fail to observe any of Tenant's covenants, agreements, or obligations hereunder, other than rental, and such failure is not cured within thirty days after Landlord shall have given to Tenant written notice specifying such failure or failures, or if such failure is not susceptible of cure within such 30 day period, Tenant fails to diligently pursue such cure; or
C. Tenant is adjudicated a bankrupt or insolvent, or
D. A receiver is appointed for all or substantially all of Tenant's business or assets on the preceding sentenceground of Tenant's insolvency; or
E. A Trustee is appointed for Tenant after a petition has been filed for Tenant's reorganization under the Bankruptcy Act of the United States, or any future law of the United States having the same general purpose; or
F. Tenant shall make an assignment for the benefit of its creditors; then, subject to paragraph 22 below, Landlord must credit Tenant with shall have the net rents that Landlord actually receives from a reletting right, at its election, at any time thereafter, while any such Event of Default continues, to reenter and take complete and peaceable possession of the Leased Premises and any and all improvements then forming part of the Leased Premises. Net rents must be determined by deducting from , and to declare the gross rentsterm of this Lease ended, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating whereupon this Lease and all the reasonable expenses that right, title and interest of Tenant hereunder shall terminate and be of no further force or effect. In the event of such declaration, Landlord incurs or pays shall have the right to xxx for and recover all rents and other sums accrued up to the time of such termination, and subject to mitigation, future rentals may be provided for in connection with any final judgment entered in such suit, as well as all other damages allowed by law on account of any breach on the reletting part of the Premises that are allocable to Tenant. Landlord shall also have the Term. In no event is Tenant entitled to receive any excess right, without reentering the Leased Premises, of such net rents over the sums that Tenant must pay to Landlord under terminating this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take to xxx for and recover all reasonable steps to mitigate Landlord’s rents and other sums, including damages, including making reasonable efforts at any time and from time to relet the Premises time accruing hereunder and, subject to mitigation, future rentals, may be provided for a period that is equal to, shorter, or longer than the Termin any final judgment entered in such suit.
Appears in 1 contract
Samples: Lease Agreement (High Street Corp)
Remedies of Landlord. (a) Upon the occurrence of On an Event of Default by Xxxxxx, in addition to the remedies described in § 9.3 and any other remedies available to Landlord at law or in equityDefault, Landlord has the may, at its election, after any applicable grace period provided to Tenant herein, without further notice, with or without terminating this Lease, terminate Tenant’s right to terminate this Lease upon not less than 60 days prior written notice to Tenant; provided, however, that in possession of the case of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of persons or property, Landlord has the Premises and right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if enter the Expiration Date stated in such notice were the Expiration Date originally fixedBuilding, and Xxxxxx must Tenant shall then quit and surrender the entire Premises to Landlord as provided in § 6.7Landlord, but Xxxxxx remains Tenant shall remain liable for damages arising out of such Event of Default, as provided in this Lease.
(b) Upon termination of this Lease by . Landlord pursuant to this § 9.2or its agents and employees may, lawfully without notice, re-enter the Premises and remove all persons and contents therefrom. Tenant must shall pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and additional rental at the same time as if this Lease had the rental becomes payable under these terms hereof a sum equivalent to the rental and additional rental reserved herein, and Landlord shall have the right, but not been terminatedthe obligation, to relet the Premises or any part or parts thereof in the name of Landlord or otherwise, for a term or terms that may at Landlord’s option be less than or exceed the period that would otherwise have constituted the balance of the Term. In calculating If the amounts Premises or any part or parts thereof are relet by Landlord, Tenant shall nevertheless remain liable for any deficiency between the rental and additional rental reserved herein or covenanted to be paid and any proceeds of such reletting, after deducting from such proceeds all expenses incurred by Landlord in connection with repossession and reletting, including, but not limited to, legal expenses, attorneys’ fees, brokerage commissions, and expenses of keeping the Premises in good order and preparing and altering the same for reletting. Tenant shall not be entitled to any excess rental above that covenanted to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If The failure or refusal of Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises or any part thereof shall not release or affect Tenant’s liability hereunder. Any sums due to Landlord shall be paid in monthly installments by Tenant on the rent day specified in this Lease and any suit brought to collect on the amount due for any month shall not prejudice in any way the rights of Landlord to collect any due for any subsequent month. Landlord may, at its option, make commercially reasonable alterations, repairs, and replacements to the Premises and paint the Premises as Landlord may consider advisable to relet the Premises or any part thereof and the making of such alterations, repairs, and replacements and the painting shall not be construed as releasing Tenant from liability hereunder. The cost of making such alterations, repairs, and replacements and painting shall be at the expense of Tenant, and shall constitute additional rental under this Lease; but shall not exceed an amount equal to Landlord’s then building standard. Notwithstanding anything here to the contrary, Landlord agrees that within a period that is equal toreasonable time following the exercise of its remedies after an Event of Default, shorterLandlord shall list the Premises with a broker, or longer than make the TermPremises available for viewing by prospective tenants and take reasonable actions to mitigate the damages of Tenant.
Appears in 1 contract
Remedies of Landlord. (a) Upon In the occurrence event of an Event of any such Default by XxxxxxTenant, then in addition to the remedies described in § 9.3 and any other remedies available to Landlord at law or in equity, Landlord has shall have the right immediate option to terminate this Lease upon not less than 60 days prior and all rights of Tenant hereunder by giving Tenant written notice of termination. If Landlord elects so to Tenant; providedterminate this Lease, however, that in then Landlord may recover from Tenant a sum which at the case of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out time of such Event of Default, as provided in this Lease.
(b) Upon termination of this Lease by Landlord pursuant to this § 9.2represents the excess, Tenant must pay to Landlord Rent if any, of (1) the then present value of the aggregate amount of the Rents which would have been payable by Tenant (conclusively presuming the average monthly Additional Charges under ARTICLE 4 to Landlord up to be the Expiration same as were payable for the last 12 calendar months, or if less than 12 calendar months have then elapsed since the Commencement Date, and Xxxxxx remains liable all of the calendar months immediately preceding such termination or reentry) for any breach the period commencing with such earlier termination of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extentLease, and at ending with the same time expiration date contemplated as the expiration date hereof (not including any unexercised renewal options) if this Lease had not been so terminated, over (2) the then present value of the aggregate of the product of the Fair Market Rate (as defined in SECTION 29 hereof) for the same period times the number of square feet of Rentable Area included within the Premises at the time of the award. In calculating the amounts to be paid by Tenant pursuant to For purposes of the preceding sentence, "present value" shall be computed by discounting such amount to present value at a discount rate equal to the Agreed Rate. Landlord must credit Tenant with shall also have the net rents that option to recover possession without terminating the Lease, provided, however, Landlord actually receives from a in good faith attempts to relet the Premises. Should Landlord choose not to terminate the Lease and instead choose to recover possession of the Premises, Landlord may recover Rents, as they become due, less any amounts the Landlord recovers through its good faith reletting of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises for a period that is equal to, shorter, or longer than the Term.
Appears in 1 contract
Remedies of Landlord. (a) Upon the occurrence of If an Event of Default by Xxxxxxoccurs, in addition Landlord, may, at its option, within 5 days after written notice to Tenant, reenter the Leased Premises, to the remedies described extent provided by law remove all persons therefrom, take possession of the Leased Premises, and remove ail of Tenant's personal property at Tenant's risk and expense and, either (i) terminate this Lease and Tenant's right of possession of the Leased Premises or (ii) maintain this Lease in § 9.3 full force and any other remedies available effect and endeavor to relet all or part of the Leased Premises. In the event Landlord at law or in equityelects to maintain this Lease, Landlord has shall have the right to relet the Leased Premises for such rent and upon such terms as Landlord deems reasonable and necessary, and Tenant shall be liable for all damages sustained by Landlord, including but not limited to, any deficiency in 18 Rent for the period of time which would have remained in the Lease Term in the absence of any termination, leasing fees, attorneys' fees, other marketing and collection costs, the cash value of any concessions granted to Tenant and all expenses of placing the Leased Premises in first class rentable condition. Landlord retains the right to terminate this Lease, at any time, notwithstanding that Landlord fails to terminate this Lease upon not less than initially. If Landlord is unable after diligent efforts to relet the Leased Premises within 60 days prior written notice to Tenant; provided, however, that in the case of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in this Lease.
(b) Upon after termination of this Lease by Lease, Landlord pursuant may elect at any time thereafter to this § 9.2, have Tenant must pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlordimmediately pay, as damages, liquidated damages and not as a penalty. all Rent then due and the aggregate present value (discounted at 10%) of all Rent remaining which would have become due (based on Base Rent and Tenant's Pro Rata Share of Excess Operating Costs payable at the time of such election and the cash value of any concessions granted to Tenant) for the period of time which would have remained in the Term.
(c) Tenant must pay Rent Lease Term in the same manner, absence of any termination. Landlord agrees to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making use reasonable efforts to relet the Premises Leased Premises. The remedies granted to Landlord herein shall be cumulative and shall not exclude any other remedy allowed by law, and shall not prevent the enforcement of any claim Landlord may have against Tenant for anticipatory breach of the unexpired term of this Lease, including without limitation, a period that is equal to, shorter, or longer than the Termclaim for attorney's fees incurred by Landlord.
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Remedies of Landlord. (a) Upon the occurrence of an Event any event of Default by Xxxxxxdefault set forth in Section 15 .01, Landlord shall have the following rights and remedies, in addition to those allowed by law, any one or more of which may be exercised without further notice to or demand upon Tenant:
A. Landlord may re-enter the remedies described Leased Premises and cure any default of Tenant, in § 9.3 which event Tenant shall reimburse Landlord as additional rent for any costs and expenses which Landlord may incur to cure such default; and Landlord shall not be liable to Tenant for any other remedies available to loss or damage which Tenant may sustain by reason of Landlord’s action, regardless of whether caused by Landlord’s negligence or otherwise.
B. 1. Landlord at law or in equity, Landlord has the right to may terminate this Lease upon not less than 60 days prior written notice as of the date of such default, in which event (i) neither Tenant nor any person claiming under or through Tenant shall thereafter be entitled to Tenantpossession of the Leased Premises, and Tenant shall immediately thereafter surrender the Leased Premises to Landlord; provided(ii) Landlord may re-enter the Leased Premises and dispossess Tenant or any other occupants of the Leased Premises by any means permitted by law, howeverand may remove their effects, that without prejudice to any other remedy which Landlord may have for possession or arrearages in rent; and (iii) notwithstanding the case termination of a non-monetary Event this Lease( Landlord may declare all rent which would have been due under this Lease for the balance of Default the Term to be immediately due and payable, whereupon Tenant shall be obligated to pay the same to Landlord, together with all loss or damage which Landlord may sustain by Tenant that poses an immediate threat to the health or safety reason of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully it being expressly understood and completely as if agreed that the Expiration Date stated in such notice were the Expiration Date originally fixed, liabilities and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided remedies specified in this Lease.
(b) Upon subsection B I of Section 15 .02 shall survive the termination of this Lease by Landlord pursuant to this § 9.2, Tenant must pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises for a period that is equal to, shorter, or longer than the Term.; or
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Remedies of Landlord. For so long as an Event of Default shall remain uncured, Landlord shall have the following remedies (which remedies are not exclusive and are cumulative and in addition to any rights or remedies at law or in equity now or later allowed to Landlord):
(a) Upon Landlord can continue this Lease in full force and effect without terminating Tenant’s right of possession, and Landlord shall have the occurrence right to collect rent and other monetary charges when due. Landlord may do all acts necessary to maintain or preserve the Leased Premises, as Landlord deems reasonable and necessary, including removal of personal property from the Leased Premises and storage of same in a public warehouse at the expense and risk of the owners thereof. Landlord shall have the right to enter the Leased Premises and re-let them, or any part thereof, to third parties for Tenant’s account. Tenant shall be liable immediately to Landlord for all costs Landlord incurs in reletting the Leased Premises. Reletting can be for a period shorter or longer than the remaining Term of this Lease and at such rent and upon such conditions as Landlord deems reasonable. Any rent received by Landlord from such reletting shall be applied to the payment of:
(i) First, all costs incurred by Landlord in reletting, excluding any repairs or tenant improvements;
(ii) Second, rent due and unpaid under this Lease; and
(iii) Third, future rent as it becomes due under 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. No act by Landlord permitted under this Section 18(a) shall be deemed an election to terminate this Lease. Notwithstanding that Landlord fails to elect to terminate the Lease immediately after an Event of Default by XxxxxxTenant, Landlord may, at any time during the Term elect to terminate this Lease as a result of any prior Event of Default which has not been cured. After an Event of Default by Tenant and for as long as Landlord does not terminate Tenant’s right to possession of the Leased Premises, and if Tenant obtains Landlord’s consent, Tenant shall have the right to assign or sublet its interest in addition this Lease, but Tenant shall not be released from liability hereunder. Landlord’s consent to such a proposed assignment or subletting shall not be unreasonably withheld.
(b) Landlord can terminate Tenant’s right to possession of the remedies described in § 9.3 and Leased Premises by any lawful means, at any time after an Event of Default by Tenant. No act by Landlord other remedies available than giving written notice to Landlord at law Tenant shall terminate this Lease. Acts of maintenance, efforts to relet the Leased Premises, or in equitythe appointment of a receiver on Landlord’s initiative to protect Landlord’s interests under this Lease shall not constitute a termination of Tenant’s right to possession. On termination, Landlord has the right to terminate this Lease upon not less than 60 days prior written notice to recover from Tenant; provided:
(i) the worth, howeverat the time of the award, that in of any unpaid rent which had been earned at the case time of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination; plus
(ii) the worth, this Lease comes at the time of the award, of the amount by which the unpaid rent that would have been earned after the date of termination until the time of award exceeds the amount of the loss of rent 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 Term after the time of award exceeds the amount of the loss of rent that Tenant proves could have been reasonably avoided. As used in subparagraphs (i) and (ii) above, the “worth at the time of the award” shall be computed by allowing interest at the maximum rate an individual is permitted by law to an end charge. As used in subparagraph (iii) above, the “worth at the time of the award” shall be computed by discounting such amount at the discount rate of six percent (6%) per annum. The term “rent,” as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided used in this Lease.
(b) Upon termination of this Lease by Landlord pursuant to this § 9.2Section 18(b), Tenant must pay to Landlord shall include Base Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts all other monetary sums required to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting terms of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises for a period that is equal to, shorter, or longer than the Term.
Appears in 1 contract
Remedies of Landlord. (a) Upon the occurrence of an any Event of Default by Xxxxxxset forth in Section 13.01, Landlord shall have the following rights and remedies, in addition to those allowed by law, any or all of which may be exercised without additional notice or demand upon Tenant.
(A) Landlord may apply the remedies described in § 9.3 and security deposit, or any other remedies available prepaid funds or reenter the Leased Premises and cure any default of Tenant. In such event Tenant shall immediately reimburse Landlord as additional rental for any such costs, and shall restore the security deposit, or other prepaid funds used by Landlord to cure Tenant’s default; and Landlord shall not be liable to Tenant for any loss or damage which Tenant may sustain by reason of Landlord’s actions, whether or not caused by Xxxxxxxx’s gross negligence.
(B) Landlord, at law or in equityany time thereafter, Landlord has the right may at its option give written notice thereof to terminate Tenant stating that this Lease and the Lease Term hereby demised shall expire and terminate on the date specified in such notice, and upon not less than 60 days prior written notice to Tenant; provided, however, that the date specified in the case of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such terminationnotice, this Lease comes to an end as fully and completely the Lease Term hereby demised, and all rights of Tenant under this Lease shall expire and terminate as if the Expiration Date stated in such notice date were the Expiration Date originally fixeddate herein definitely fixed for the termination of the Lease Term, and Xxxxxx must then in which event Tenant shall thereupon quit and surrender the Leased Premises but shall remain liable as hereinafter provided. Landlord may without notice, reenter and repossess the Leased Premises using such force for that purpose as may be necessary without being liable to indictment, prosecution, or damages therefore, and Xxxxxx shall nevertheless remain liable as hereinafter provided for the remainder of the Lease Term. Notwithstanding the termination of this Lease, Landlord as provided in § 6.7may declare all rental which would have been due under the Lease for the balance of the term to be immediately due and payable, but Xxxxxx remains and Tenant shall then be liable for damages arising out the same to Landlord, together with all loss or damage Landlord may sustain by reason of such Event default and termination, it being expressly agreed and understood that such liabilities and remedies herein specified shall survive the termination of Default, as provided in this Lease.
(bC) Upon termination Landlord may, without terminating this Lease, reenter the Leased Premises and at its option, repair and alter the Leased Premises in such manner as Landlord may deem necessary or advisable, and/or let or relet the premises or any parts thereof for the whole or any part of this the remainder of the Lease Term for a longer period, in Landlord’s name or as agent of Tenant, and out of any rental collected or received as a result of such letting or reletting Landlord shall first, pay to itself the cost and expense of retaking, repossessing, repairing and/or altering the Leased Premises, and the cost and expense of removing all personal property therefrom; second, pay to itself the cost and expense sustained in securing any new tenants, and if Landlord shall maintain and operate the Leased Premises, the reasonable cost and expense of operating and maintaining the Leased Premises; and, third, pay to itself any balance remaining on account of the liability of Tenant to Landlord. No reentry by Landlord pursuant to this § 9.2, shall absolve or discharge Tenant must pay to from liability hereunder. Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains shall in no way be responsible or liable for any breach of Tenant’s obligations under this Lease occurring before failure to relet the Expiration Date. In additionLeased Premises or any part thereof, Tenant is liable or for any failure to pay Landlord, as damages, the aggregate of Rent remaining in the Termcollect any rental due on any such reletting.
(cD) Tenant must pay Rent in the same manner, Landlord may sue for injunctive relief or to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must be determined by deducting recover damages for any loss resulting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises for a period that is equal to, shorter, or longer than the Termbreach.
Appears in 1 contract
Samples: Office Lease
Remedies of Landlord. (a) Upon 14.1. In the occurrence event of an Event default by Tenant, as described in SECTION 13 of Default this Lease, Landlord, at its sole option, shall have the following rights:
14.1.1. Terminate Tenant's right to possession of the Premises and Equipment by Xxxxxxany lawful means, in addition which case this Lease shall terminate and Tenant shall immediately surrender possession to Landlord without need of dispossession proceedings. In such event Landlord shall be entitled to recover from Tenant: (i) the unpaid Base Monthly Rent which had been earned at the time of termination; (ii) the unpaid amount of Base Monthly Rent for the balance of the Lease Term from the date of such termination notice payable upon demand; and (iii) any other amount necessary to compensate Landlord for all the detriment proximately caused by the 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 but not limited to the remedies described cost of recovering possession of the Premises;
14.1.2. The right to continue this Lease in § 9.3 full force and any other remedies available effect, without terminating Tenant's right to possession of the Premises and Equipment, in which event Landlord at law or in equity, Landlord has shall have the right to terminate this Lease upon not less than 60 days prior written notice to Tenantcollect the Base Monthly Rent and other charges when due; provided, however, that in the case of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of persons or property, Landlord has the and
14.1.3. The right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if pursue any other remedy now or hereafter available under the Expiration Date stated in such notice were laws or judicial decisions of the Expiration Date originally fixed, and Xxxxxx must then quit and surrender jurisdiction wherein the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in this Lease.
(b) Upon and Equipment are located. The expiration or termination of this Lease by Landlord pursuant to this § 9.2, Tenant must pay to Landlord Rent payable by Tenant to Landlord up to and/or the Expiration Date, and Xxxxxx remains liable for any breach termination of Tenant’s obligations 's right to possession shall not relieve Tenant from liability under any indemnity provisions of this Lease as to matters occurring before or accruing during the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate term hereof or by reason of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting Tenant's occupancy of the Premises.
14.2. Net rents must The waiver by Landlord of any breach or default of Tenant hereunder shall not be determined a waiver of any preceding or subsequent breach of the same or any other term. Acceptance of any rent payment shall not be construed to be a waiver by deducting from the gross rentsLandlord of any preceding breach by Tenant. For these purposes, as and when a waiver shall mean a written manifestation by Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs waiving to any remedy or pays in terminating action to which it may be entitled according to this Lease and or the reasonable expenses that Landlord incurs or pays in connection with applicable laws.
14.3. All past due amounts owed by Tenant under the reletting terms of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease shall bear interest at the Default Rate established in Section 31.1 and shall apply until payment is effectively made and shall be payable by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises for a period that is equal to, shorter, or longer than the TermTenant within ten (10) days after demand therefor.
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Remedies of Landlord. In the case of any such dispossession by summary proceedings or other legal actions or proceedings, (a) Upon the occurrence of an Event of Default by Xxxxxx, in addition Fixed Rent and additional rent shall become due thereupon and be paid to the remedies described time of such dispossession, together with such expenses as Landlord may incur for reasonable attorneys’ fees, brokerage, and/or putting the Demised Premises in § 9.3 good order, or for preparing the same for re-rental; (b) Landlord may re-let the Demised Premises or any part or parts thereof, either in the name of Landlord or otherwise, for a term or terms, which may at Landlord’s option be less than or exceed the period which would otherwise have constituted the balance of the term of this Lease and may grant market concessions or free rent; and/or (c) Tenant or the legal representative of Tenant shall also pay Landlord as liquidated damages for the failure of Tenant to observe and perform said Tenant’s covenants herein contained, any deficiency between the rent hereby reserved and/or covenanted to be paid and the net amount, if any, of the rents collected or to be collected on account of the lease or leases of the Demised Premises for each month of the period which would otherwise have constituted the balance of the term of this Lease (after first deducting any market concessions granted in such lease(s) such as free rent and any work allowance and all other remedies available costs incurred by Landlord in connection with such lease(s), including brokerage commissions and reasonable attorneys’ fees). The failure of Landlord to re-let the Demised Premises or any part or parts thereof shall not release or affect Tenant’s liability for damages. Any such damages shall be paid in monthly installments by Tenant on the rent days specified in this Lease and any suit brought to collect the amount of the deficiency for any month or months shall not prejudice in any way the rights of Landlord to collect the deficiency for any subsequent month or months by a similar proceeding. In lieu thereof, Landlord may immediately accelerate such deficiency for the entire balance of the term based upon the assumption that the Demised Premises are relet within a reasonable time given the then market conditions at a market rent for a lease for the balance of the term and giving due consideration for market concessions including free rent, work allowance or other economic terms that would be granted in such a lease and costs incurred by Landlord in connection with such lease (including brokerage commissions and reasonable attorneys’ fees), discounted to present value using the average of the published prime interest rate (during the 12-month period immediately prior to such acceleration) upon unsecured loans charged by JPMorgan Chase Bank (or Citibank if JPMorgan Chase Bank shall not then have an announced prime rate) on loans of ninety (90) days. Landlord at Landlord’s option may make such alterations, repairs, replacements and/or decorations in the Demised Premises as Landlord in Landlord’s sole judgment considers advisable and necessary for the purpose of re-letting the Demised Premises; and the making of such alterations and/or decorations shall not operate or be construed to release Tenant from liability hereunder as aforesaid. Landlord shall in no event be liable in any way whatsoever for failure to re-let the Demised Premises, or in the event that the Demised Premises are re-let, for failure to collect the rent thereof under such re-letting. Any such action may be an action for the full amount of all rents and damages suffered or to be suffered by Landlord. In the event of a breach or threatened breach by Tenant of any of the covenants or provisions hereof, Landlord shall have the right of injunction and the right to invoke any remedy allowed at law or in equityequity as if re-entry, Landlord has summary proceedings and other remedies were not herein provided for and the right to terminate invoke any remedy at law or in equity which is not inconsistent with the terms of this Lease. Mention in this Lease upon of any particular remedy, shall not less than 60 days prior written notice to preclude Landlord from any other remedy, in law or in equity. The foregoing remedies and rights of Landlord are cumulative. Tenant; provided, howeveron its own behalf and on behalf of all persons claiming by, that in the case of a non-monetary Event of Default by Tenant that poses an immediate threat through or under Tenant, including all creditors, does, to the health fullest extent permitted by Legal Requirements, hereby expressly waives all rights which Tenant and all such persons might otherwise have to (i) the service of any notice of intention to re-enter or safety of persons or property, Landlord has the right to reduce said 60-day notice period institute legal proceedings to ten days. Upon such termination, this Lease comes to an that end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as (except for any notices expressly provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in this Lease.
, including this Article 20), (bii) Upon redeem the Demised Premises or any interest therein, (iii) re-enter or repossess the Demised Premises, or (iv) restore the operation of this Lease, after Tenant shall have been dispossessed by a judgment or by a warrant of any court or judge, or after any re-entry by Landlord, or after any termination of this Lease Lease, whether such dispossess, re-entry by Landlord pursuant to this § 9.2, Tenant must pay to Landlord Rent payable or termination shall be by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for any breach operation of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant law or pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting provisions of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates The words “re-enter,” “re-entry” and “re-entered” as used in this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps shall not be deemed to mitigate Landlord’s damages, including making reasonable efforts be restricted to relet the Premises for a period that is equal to, shorter, or longer than the Termtheir technical legal meanings.
Appears in 1 contract
Samples: Lease Agreement (Take Two Interactive Software Inc)
Remedies of Landlord. Upon any Event of Default, Landlord may, at Landlord’s option in its sole discretion, and in addition to all other rights, remedies and recourses afforded Landlord hereunder or by law or equity, do any one or more of the following:
(a) Upon the occurrence of an Event of Default by Xxxxxx, in addition to the remedies described in § 9.3 and any other remedies available to Landlord at law or in equity, Landlord has the right to terminate this Lease upon not less than 60 days prior by the giving of written notice to Tenant; providedreenter the Premises, howeverwith or without process of law; eject all parties in possession thereof; repossess and enjoy the Premises and all Tenant Improvements; and recover from Tenant all of the following: (i) all Rent and other amounts accrued hereunder to the date of termination; (ii) all amounts due under paragraph 24.3; and (iii) liquidated damages in an amount equal to (A) the total Rent that Tenant would have been required to pay for the remainder of the Term discounted to present value at the prime lending rate (or equivalent rate, that however denominated) in effect on the date of termination at the then largest national bank in the case State of a nonUtah, minus (B) the then-monetary Event present fair rental value of Default the Premises for such period, similarly discounted, plus any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant that poses an immediate threat Tenant’s failure to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, perform its obligations under this Lease comes or which would be likely to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixedresult therefrom, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7including, but Xxxxxx remains liable for damages arising out of such Event of Defaultwithout limitation, as provided in this Lease.attorneys’ fees, brokers’ commissions or finders’ fees;
(b) Upon termination terminate Tenant’s right to possession of the Premises without terminating this Lease by Landlord pursuant the giving of written notice to this § 9.2Tenant, in which event Tenant must shall pay to Landlord (i) all Rent payable by Tenant to Landlord up and other amounts accrued hereunder to the Expiration Datedate of termination of possession, (ii) all amounts due from time to time under paragraph 24.3, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of (iii) all Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts other sums required hereunder to be paid by Tenant during the remainder of the Term, diminished by any net sums thereafter received by Landlord through reletting the Premises during said period. Re-entry by Landlord in the Premises will not affect the obligations of Tenant hereunder for the unexpired Term. Landlord may bring action against Tenant to collect amounts due by Tenant on one or more occasions, without the necessity of Landlord’s waiting until expiration of the Term. If Landlord elects to proceed under this subparagraph 24.2(b), it may at any time elect to terminate this Lease pursuant to subparagraph 24.2(a);
(c) without notice, alter any and all locks and other security devices at the preceding sentencePremises without being obligated to deliver new keys to the Premises to Tenant, unless Tenant has cured all Events of Default before Landlord must credit Tenant with the net rents that Landlord actually receives from has terminated this Lease under subparagraph 24.2(a) or has entered into a reletting lease to relet all or a portion of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of ;
(d) if an Event of Default by Xxxxxxspecified in subparagraph 24.1(c) occurs, Landlord must take may remove and store any property that remains on the Premises and, if Tenant does not claim such property within ten (10) days after Landlord has delivered to Tenant notice of such storage, Landlord may appropriate, sell, destroy or otherwise dispose of the property in question without notice to Tenant or any other person, and without any obligation to account for such property;
(e) for all reasonable steps to mitigate purposes set forth in this paragraph 24.2, Landlord is hereby irrevocably appointed as agent for Tenant. No taking possession of the Premises by Landlord shall be construed as Landlord’s damages, including making reasonable efforts to relet acceptance of a surrender of the Premises by Tenant or an election by Landlord to terminate this Lease unless written notice of such intention is given to Tenant. Notwithstanding any leasing or subletting without termination of the Lease, Landlord may at any time thereafter elect to terminate the Lease for a period that is equal to, shorter, or longer than the TermTenant’s previous breach.
Appears in 1 contract
Remedies of Landlord. In the event that the term of this Lease shall terminate and expire pursuant to notice or as the result of summary proceedings, or if Landlord shall reenter by summary proceedings or other action or proceeding or recover possession of the Apartment in any other manner herein provided, (a) Upon the occurrence of an Event of Default by Xxxxxx, in addition Tenant shall pay to Landlord any rent then due up to the remedies described in § 9.3 time of the end of the lease term and any other remedies available Tenant shall be responsible for use and occupation until reentry or dispossess together with all expenses of Landlord including attorneys’ fees, not to Landlord at law or in equity, Landlord has the right to terminate this Lease include attorneys’ fees upon not less than 60 days prior written notice to Tenant; provided, however, that in the case of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixeddefault judgment, and Xxxxxx must then quit disbursements, incurred in connection with any summary proceedings or other action or proceeding and surrender the Premises to Landlord as provided removal of the property and effects of Tenant or other occupants from the Apartment and all expenses incurred by landlord that are reasonably necessary in § 6.7, but Xxxxxx remains liable repairing and redecorating the same for damages arising out of such Event of Default, as provided in this Lease.
re-rental and (b) Upon termination to the extent that Tenant is not absolved from an obligation to pay Landlord pursuant to paragraph 7(B) above, Tenant shall remain responsible to Landlord for damages including any difference between the rent to be paid under the Lease and the amount, if any, of this the rents collected on account of the subsequent lease or leases of the Apartment for each month of the period which would otherwise have constituted the rest of the term of the Lease, after the deduction of brokers’ commissions and expense of Landlord for repairing, redecorating and otherwise preparing the Apartment for occupancy, by any other Tenant, Landlord, at its option, may make such alterations and/or decorations in the Apartment as are reasonably necessary for the purpose of reletting same and the making of such alterations and/or decorations shall not release Tenant from any liability hereunder. Damages shall be paid in monthly installments by Tenant on the rent day mentioned in the Lease and any legal action brought to collect the amount of the loss for rent for any month shall not prejudice in any way the rights of Landlord to collect the loss of rent for any subsequent month by a similar proceeding. Such damages, if any, shall not be considered additional rent. None of the expenses, counsel fees, disbursements and/or damages, if any, paid by Tenant to Landlord pursuant to this § 9.2, Tenant must pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of Rent remaining in the TermParagraph 20 shall be considered additional rent.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises for a period that is equal to, shorter, or longer than the Term.
Appears in 1 contract
Samples: Lease Agreement
Remedies of Landlord. (a) Upon the occurrence of an any Event of Default by XxxxxxDefault, Landlord may exercise any one or more of the following described remedies, in addition to the all other rights and remedies described in § 9.3 and any other remedies available to Landlord provided at law or in equity:
A. Terminate this Lease Agreement by written notice to Tenant and forthwith repossess the Leased Premises and be entitled to recover forthwith as damages a sum of money equal to the total of (i) the cost of recovering the Leased Premises (including attorneys’ fees and costs of suit), (ii) the cost of removing and storing any personal property, (iii) the unpaid Rent earned at the time of termination, plus interest thereon at the rate described in Section 5, (iv) the present value (discounted at the rate of six percent (6%) per annum) of the balance of the Rent for the remainder of the Term less the present value (discounted at the same rate) of the fair market rental value of the Leased Premises for said period, taking into account the period of time the Leased Premises will remain vacant until a new tenant is obtained, and the cost to prepare the Leased Premises for occupancy and the other costs (such as leasing commissions, tenant improvement allowances and attorneys’ fees) to be incurred by Landlord in connection therewith, and (v) any other sum of money and damages owed by Tenant to Landlord under this Lease Agreement.
B. Terminate Tenant’s right of possession (but not this Lease Agreement) and may repossess the Leased Premises by forcible detainer suit or otherwise, without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant and without terminating this Lease Agreement. Landlord shall use reasonable efforts under the circumstances to relet the Leased Premises on such terms and conditions as Landlord in its sole discretion may determine (including a term different than the Term, rental concessions, alterations and repair of the Leased Premises); provided, however, Landlord has hereby reserves the right (i) to lease any other comparable space available in the Building or in any adjacent building owned by Landlord prior to offering the Leased Premises for lease, and (ii) to refuse to lease the Leased Premises to any potential tenant which does not meet Landlord’s standards and criteria for leasing other comparable space in the Building. Landlord shall not be liable for, nor shall Tenant’s obligations hereunder be diminished because of, Landlord’s failure or refusal to relet the Leased Premises or collect rent due in respect of such reletting. For the purpose of such reletting Landlord shall have the right to decorate or to make any repairs, changes, alterations or additions in or to the Leased Premises as may be reasonably necessary or desirable. In the event that (i) Landlord shall fail or refuse to relet the Leased Premises, or (ii) the Leased Premises are relet and a sufficient sum shall not be realized from such reletting (after first deducting therefrom, for retention by Landlord, the unpaid Rent due hereunder earned but unpaid at the time of reletting plus interest thereon at the rate specified in Section 5, the cost of recovering possession (including attorneys’ fees and costs of suit), all of the costs and expenses of such decorations, repairs, changes, alterations and additions, the expense of such reletting and the cost of collection of the rent accruing therefrom) to satisfy the Rent, then Tenant shall pay to Landlord as damages a sum equal to the amount of such deficiency. Any such payments due Landlord shall be made upon demand therefor from time to time and Tenant agrees that Landlord may file suit to recover any sums falling due under the terms of this Section 16 from time to time. No delivery to or recovery by Landlord of any portion due Landlord hereunder shall be any defense in any action to recover any amount not theretofore reduced to judgment in favor of Landlord, nor shall such reletting be construed as an election on the part of Landlord to terminate this Lease upon not less than 60 days prior Agreement unless a written notice of such intention be given to Tenant by Landlord. Notwithstanding any such termination of Tenant’s right of possession of the Leased Premises, Landlord may at any time thereafter elect to terminate this Lease Agreement. In any proceedings to enforce this Lease Agreement under this Section 16, Landlord shall be presumed to have used its reasonable efforts to relet the Leased Premises, and Tenant shall bear the burden of proof to establish that such reasonable efforts were not used.
C. Alter any and all locks and other security devices at the Leased Premises, and if it does so Landlord shall not be required to provide a new key or other access right to Tenant unless Tenant has cured all Events of Default; provided, however, that in any such instance, during Landlord’s normal business hours and at the case convenience of a non-monetary Event Landlord, and upon the written request of Default Tenant accompanied by such written waivers and releases as Landlord may require, Landlord will escort Tenant or its authorized personnel to the Leased Premises to retrieve any personal belongings or other property of Tenant not subject to the Landlord’s lien or security interest described in Section 17. The provisions of this Section 16.C are intended to override and control any conflicting provisions of the Texas Property Code.
D. All agreements and provisions to be performed by Tenant that poses an immediate threat to under any of the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in this Lease.
(b) Upon termination terms of this Lease by Landlord pursuant to this § 9.2, Tenant must pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for any breach of Agreement shall be at Tenant’s obligations under this Lease occurring before the Expiration Datesole cost and expense and without any abatement of Rent. In addition, If Tenant is liable shall fail to pay Landlordany sum of money, as damagesother than Base Rent, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts required to be paid by it hereunder or shall fail to cure any default and such failure shall continue for ten (10) days after notice thereof by Landlord, then Landlord may, but shall not be obligated so to do, and without waiving or releasing Tenant pursuant from any obligations, make any such payment or perform any such act on Tenant’s part. All sums so paid by Landlord and all costs incurred by Landlord in taking such action shall be deemed Additional Rent hereunder and shall be paid to Landlord on demand, and Landlord shall have (in addition to all other rights and remedies of Landlord) the preceding sentence, Landlord must credit Tenant with same rights and remedies in the net rents that Landlord actually receives from a reletting event of the Premises. Net rents must be determined non-payment thereof by deducting from Tenant as in the gross rents, as and when Landlord receives case of default by Tenant in the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in payment of Rent.
E. In connection with the reletting exercise by Landlord of the Premises that are allocable to the Term. In no event is Tenant entitled to receive its rights and remedies in respect of any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default on the part of Tenant, to the extent (but no further) that Landlord is required by Xxxxxx, Landlord must take all reasonable steps applicable Texas law to mitigate Landlord’s damages, including making reasonable or to use efforts to do so, and such requirement cannot be lawfully and effectively waived (it being the intention of Landlord and Tenant that such requirements be and are hereby WAIVED to the maximum extent permitted by applicable law), Tenant agrees in favor of Landlord that Landlord shall not be deemed to have failed to mitigate damages, or to have used the efforts required by law to do so, because:
(1) Landlord leases other space in the Building prior to re-letting the Leased Premises;
(2) Landlord refuses to relet the Leased Premises for a period that is equal to, shorterto any affiliate of Tenant, or longer than any principal of Tenant, or any affiliate of such principal (for purposes of this Lease, “affiliate” shall mean and refer to any person or entity controlling, under common control with, or controlled by, the Termparty in question);
(3) Landlord refuses to relet the Leased Premises to any person or entity because the use proposed to be made of the Leased Premises by such prospective tenant is not of a type and nature consistent with that of the other tenants in the Building or the floor where the Leased Premises are situated as of the date Tenant defaults under this Lease Agreement, or because such use would, in the good faith opinion of Landlord, impose unreasonable or excessive demands upon the Building;
(4) Landlord refuses to relet the Leased Premises to any person or entity, or any affiliate of such person or entity, who has been engaged in litigation with, or who has threatened litigation against, Landlord or any of its affiliates, or whom Landlord in good xxxxx xxxxx to be unreasonably or excessively litigious;
(5) Landlord refuses to relet the Leased Premises because the tenant or the terms and provisions of the proposed lease are not approved by the holders of any liens or security interests in the Building or any part thereof, or would cause Landlord to breach or be in default of, or to be unable to perform any of its covenants under, any agreements between Landlord and any third party;
(6) Landlord refuses to relet the Leased Premises because the proposed tenant is unwilling to execute and deliver Landlord’s standard lease form without substantial tenant-oriented modifications or such tenant requires improvements to the Leased Premises to be paid at Landlord’s cost and expense; or
(7) Landlord refuses to relet the Leased Premises to a person or entity whose character or reputation, or the nature of whose business, Landlord in good xxxxx xxxxx unacceptable; and it is further agreed that each and all of the grounds for refusal set forth in clauses (1) through (7) above, both inclusive, of this sentence are reasonable grounds for Landlord’s refusal to relet the Leased Premises, or (as to all other provisions of this Lease Agreement) for Landlord’s refusal to issue any approval, or take any other action, of any nature whatsoever under this Lease Agreement. In the event the waiver set forth in this Section 16.E shall be ineffective, Tenant further agrees in favor of Landlord, to the maximum extent to which it may lawfully and effectively do so, that the following efforts to mitigate damages if made by Landlord (and without obligating Landlord to render such efforts) shall be conclusively deemed reasonable, and that Landlord shall be conclusively deemed to have used the efforts to mitigate damages required by applicable law if: Landlord places the Leased Premises on its inventory of available space in the Building; Landlord makes such inventory available to brokers who request same; and Landlord shows the Leased Premises to prospective tenants (or their brokers) who request to see it.
Appears in 1 contract
Samples: Lease Agreement (Georesources Inc)
Remedies of Landlord. If an Event of Default occurs, Landlord, may, at its option, five (a5) Upon days after written notice to Tenant, reenter the occurrence Leased Premises, remove all persons therefrom, take possession of the Leased Premises, and remove all of Tenant's personal property at Tenant's risk and expense and, either (i) terminate this Lease and Tenant's right of possession of the Leased Premises or (ii) maintain this Lease in full force and effect and endeavor to relet all or part of the Leased Premises. In the event Landlord elects to maintain this Lease, Landlord shall have the right to relet the Leased Premises for such rent and upon such terms as Landlord deems reasonable and necessary, and Tenant shall be liable for all damages sustained by Landlord, including but not limited to, any deficiency in Rent for the period of time which would have remained in the Lease Term in the absence of any termination, leasing fees, attorneys' fees, other marketing and collection costs, the cash value of any concessions granted to Tenant and all expenses of placing the Leased Premises in first class rentable condition. Landlord retains the right to terminate this Lease, at any time, notwithstanding that Landlord fails to terminate this Lease initially. If Landlord is unable after diligent efforts to relet the Leased Premises within one hundred twenty (120) days after termination of this Lease, Landlord may elect at any time thereafter to have Tenant immediately pay, as liquidated damages and not as a penalty, all Rent then due and the present value (discounted at 10%) of all Rent which would have become due (based on Base Rent and Tenant's Pro Rata Share of Excess Operating Costs payable at the time of such election and the cash value of any concessions granted to Tenant) for the period of time which would have remained in the Lease Term in the absence of any termination over the then reasonable rental value of the Leased Premises for the remaining Lease Term. Notwithstanding anything to the contrary contained herein, Landlord agrees to use commercially reasonable efforts to mitigate its damages following an Event of Default by Xxxxxx, in addition Tenant. The remedies granted to the remedies described in § 9.3 Landlord herein shall be cumulative and shall not exclude any other remedies available to Landlord at law or in equity, Landlord has the right to terminate this Lease upon not less than 60 days prior written notice to Tenant; provided, however, that in the case of a non-monetary Event of Default remedy allowed by Tenant that poses an immediate threat to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixedlaw, and Xxxxxx must then quit and surrender shall not prevent the Premises to enforcement of any claim Landlord as provided in § 6.7, but Xxxxxx remains liable may have against Tenant for damages arising out anticipatory breach of such Event the unexpired term of Default, as provided in this Lease.
(b) Upon termination of this Lease by Landlord pursuant to this § 9.2, Tenant must pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises without limitation, a claim for a period that is equal to, shorter, or longer than the Termattorney's fees incurred by Landlord.
Appears in 1 contract
Samples: Lease Agreement (Pc Tel Inc)
Remedies of Landlord. (a) Upon the occurrence of an any Event of Default by XxxxxxDefault, Landlord may exercise any one or more of the following described remedies, in addition to the all other rights and remedies described in § 9.3 and any other remedies available to Landlord provided at law or in equity:
A. Terminate this Lease Agreement by written notice to Tenant and forthwith repossess, the 1eased Premises and be entitled to recover forthwith as damages a sum of money0 equal to the total of (i) the reasonable cost of recovering the Leased Premises (including attorneys’ fees and costs of suit), (ii) the reasonable cost of removing and storing any personal property, (iii) the unpaid Rent earned at the time of termination, plus interest thereon at the rate described in Section 6, (iv) the present value (discounted at the rate of eight percent (8%) per annum) of the balance of the Rent for the remainder of the Term less the present value (discounted at the same rate) of the fair market rental value of the Leased Premises for said period, taking into account the period of time the Leased Premises will remain vacant until a new tenant is obtained, and the cost to prepare the Leased Premises for occupancy and the other reasonable costs (such as leasing commissions, tenant improvement allowances and attorneys’ fees) to be incurred by Landlord in connection therewith, and (v) any other sum of money and damages owed by Tenant to Landlord under this Lease Agreement.
B. Terminate Tenant’s right of possession (but not this Lease Agreement) and may repossess the Leased Premises by forcible detainer suit or otherwise, without thereby releasing Tenant from any liability hereunder and without demand or notice of any kind to Tenant and without terminating this Lease Agreement. Landlord shall use reasonable efforts under the circumstances to relet the Leased Premises on such tern1s and conditions as Landlord in its reasonable discretion may determine (including a term different than the Term, rental concessions, alterations and repair of the Leased Premises); provided, however, Landlord has hereby reserves the right (i) to lease any other comparable space available in the Building or in any adjacent building owned by Landlord prior to offering the Leased Premises for lease, and (ii) to refuse to lease the Leased Premises to any potential tenant which does not meet Landlord’s standards and criteria for leasing other space in the Building. Landlord shall not be liable, nor shall Tenant’s obligations hereunder be diminished because of, Landlord’s failure or refusal to relet the Leased Premises or collect rent due in respect of such reletting. For the purpose of such reletting Landlord shall have the right to decorate or to make any repairs, changes, alterations or additions in or to the Leased Premises as may be reasonably necessary or desirable. In the event that (i) Landlord shall fail or refuse to relet the Leased Premises, or (ii) the Leased Premises are relet and a sufficient sum shall not be realized from such reletting (after first deducting therefrom, for retention by Landlord, the unpaid Rent due hereunder earned but unpaid at the time of reletting plus interest thereon at the rate specified in Section 6, the cost of recovering possession (including attorneys’ fees and costs of suit), all of the costs and expenses of such decorations, repairs, changes, alterations and additions, the expense of such reletting and the cost of collection of the rent accruing therefrom) to satisfy the Rent, then Tenant shall pay to Landlord as damages a sum equal to the amount of such deficiency. Any such payments due Landlord shall be made upon demand therefor from time to time and Tenant agrees that Landlord may file suit to recover any sums falling due under the terms of this Section 16 from time to time. No delivery to or recovery by Landlord of any portion due Landlord hereunder shall be any defense in any action to recover any amount not theretofore reduced to judgment in favor of Landlord, nor shall such reletting be construed as an election on the part of Landlord to terminate this Lease upon not less than 60 days prior Agreement unless a written notice of such intention be given to Tenant by Landlord. Notwithstanding any such termination of Tenant’s right of possession of the Leased Premises, Landlord may at any time thereafter elect to terminate this Lease Agreement. Notwithstanding anything to the contrary herein, if Landlord relets the Leased Premises for a term (the “Relet Term”) that extends past the Expiration Date of this Lease (without consideration of any earlier termination pursuant to this Section 17), the costs of reletting which may be included in Landlord’s damages under this Lease shall be limited to a prorated portion of the costs of reletting, based on the percentage that the length of the Term remaining on the date Landlord terminates this Lease or Tenant’s right to possession bears to the length of the Relet Term. For example, if there are two (2) years left on the Term at the time that Landlord terminates possession and, prior to the expiration of the two (2) year period, Landlord enters into a lease with a Relet Term of 10 years with a new tenant, then only 20% of the costs of reletting shall be included when determining Landlord’s damages.
C. Alter any and all locks and other security devices at the Leased Premises, and if Landlord does so, Landlord shall not be required to provide a new key or other access right to Tenant unless Tenant has cured all Events of Default; provided, however, that in the case of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of persons or propertyany such instance, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in this Lease.
(b) Upon termination of this Lease by Landlord pursuant to this § 9.2, Tenant must pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for any breach of Tenantduring Landlord’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, normal business hours and at the same time convenience of Landlord, and upon the written request of Tenant accompanied by such written waivers and releases as if Landlord may require, Landlord will escort Tenant or its authorized personnel to the Leased Premises to retrieve any personal belongings or other property of Tenant. The provisions of this Lease had not been terminated. In calculating Section 17.C are intended to override and control any conflicting provisions of the amounts Texas Property Code.
D. If Tenant shall fail to pay any sum of money, other than Base Rent, required to be paid by it hereunder or shall fail to cure any default and such failure shall continue for ten (10) days after notice thereof by Landlord, then Landlord may, but shall not be obligated so to do, and without waiving or releasing Tenant pursuant from any obligations, make any such payment or perform any such act on Tenant’s part. All sums so paid by Landlord and all costs incurred by Landlord in taking such action shall be deemed Additional Rent hereunder and shall be paid to Landlord on demand, and Landlord shall have (in addition to all other rights and remedies of Landlord) the preceding sentence, Landlord must credit Tenant with same rights and remedies in the net rents that Landlord actually receives from a reletting event of the Premises. Net rents must be determined non-payment thereof by deducting from Tenant as in the gross rents, as and when Landlord receives case of default by Tenant in the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting payment of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises for a period that is equal to, shorter, or longer than the TermRent.
Appears in 1 contract
Remedies of Landlord. 18.01 During the existence of a Default, Landlord may at its option, without waiver of Default nor any other right or remedy, perform any such duty or obligation on Tenant’s behalf. The costs and expenses of any such performance by Landlord will be immediately due and payable by Tenant upon receipt from Landlord of the reimbursement amount required.
18.02 During the existence of a Default, with or without notice or demand, and without limiting any other of Landlord’s rights or remedies, Landlord may:
(a) Upon the occurrence of an Event of Default by XxxxxxTerminate this Lease, in addition to the remedies described in § 9.3 and any other remedies available to Landlord at law or in equity, Landlord has the right to terminate this Lease upon not less than 60 days prior written notice to Tenant; provided, however, that in the which case of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and shall immediately surrender the Premises to Landlord. If Tenant fails to surrender the Premises, Landlord, in compliance with Law, may enter upon and take possession of the Premises and remove Tenant, Tenant’s Property and any party occupying the Premises. Tenant shall pay Landlord, on demand, all past due Rent and other losses and damages Landlord suffers as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in this Lease.
(b) Upon termination of this Lease by Landlord pursuant to this § 9.2, Tenant must pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for any breach a result of Tenant’s obligations under this Lease occurring before Default, including, without limitation, an amount equal to all Costs of Reletting (defined below) plus an amount equal to any deficiency that may arise from the Expiration Date. In addition, total rent that Tenant is liable would have been required to pay for the remainder of the Term had the Lease remained in effect, discounted to present value at the Prime Rate (as defined herein) then in effect minus the rents actually received by Landlord, as damagesif any, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant connection with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting “Costs of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take Reletting” shall include all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts costs and expenses incurred by Landlord in reletting or attempting to relet the Premises for Premises, including, without limitation, legal fees, brokerage commissions, the cost of alterations and the value of other concessions or allowances granted to a period that is equal to, shorter, or longer than the Termnew tenant.
Appears in 1 contract
Remedies of Landlord. (a) Upon the occurrence of If an Event of Default by Xxxxxxoccurs, Landlord, may, at its option, within 5 days after written notice to Tenant, reenter the Leased Premises, remove all persons therefrom, take possession of the Leased Premises, and remove all of the Tenant's personal property at Tenant's risk and expense and, either (i) terminate this Lease and Tenant's right of possession of the Leased Premises or (ii) maintain this Lease in addition full force and effect and endeavor to relet all or part of the remedies described in § 9.3 and any other remedies available Leased Premises. In the event Landlord elects to Landlord at law or in equitymaintain this Lease, Landlord has shall have the right to relet the Leased Premises. In the event Landlord elects to maintain this Lease, Landlord shall have the right to relet the Leased Premises for such rent and upon such terms as Landlord deems reasonable and necessary, and Tenant shall be liable for all damages sustained by Landlord, including but not limited to, any deficiency in Rent for the period of time which would have remained in the Lease Term in the absence of any termination, leasing fees, reasonable attorneys' fees, other marketing and collection costs, the cash value of any concessions granted to Tenant and all expenses of placing the Leased Premises in first class rentable condition. Landlord retains the right to terminate this Lease upon not less than 60 days prior written notice Lease, at any time, notwithstanding that Landlord fails to Tenant; provided, however, that in the case of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, terminate this Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in this Lease.
(b) Upon termination of this Lease by Landlord pursuant to this § 9.2, Tenant must pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Leaseinitially. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable is unable after diligent efforts to relet the Leased Premises within 60 days after termination of this Lease, Landlord may elect at any time thereafter to have Tenant immediately pay, as liquidated damages and not as a penalty, all Rent then due and the present value (discounted 10%) of all Rent which would have become due (based on Base Rent and Tenant's Pro Rata Share of Excess Operating Costs payable at the time of such election and the cash value of any concessions granted to Tenant) for the period of time which would have remained in the Lease Term in the absence of any termination. The remedies granted to Landlord herein shall be cumulative and shall not exclude any other remedy allowed by law, and shall not prevent the enforcement of any claim Landlord may have against Tenant for anticipatory breach of the unexpired term of this Lease, including without limitation, a period that is equal to, shorter, or longer than the Termclaim for attorney's fees incurred by Landlord.
Appears in 1 contract
Remedies of Landlord. (a) Upon the occurrence of an Event any of Default by Xxxxxxthe events of default listed in Paragraph 23, in addition Landlord, without prejudice to any legal, equitable, or other (including contractual) right or remedy to which it may be entitled, shall have the option to pursue any one or more of the following remedies described in § 9.3 without notice or demand whatsoever (and using lawful force if necessary or appropriate after providing written notice thereof, if any is required):
A. Terminate this Lease or any of Tenant's rights under this Lease, with or without reentering or repossessing the Leased Premises.
B. Terminate Tenant's right to occupy all or any part of the Premises without terminating this Lease and with or without reentering or repossessing the Premises.
C. Recover unpaid rent and any Breach Damages (as “Breach Damages” are defined in this Paragraph 24, below).
D. Change or pick the locks, access codes, or other access control devices, and take any other self-help or judicial action to exclude Tenant and other occupants from the Premises.
E. Remove and store (at Tenant's sole cost) any property on the Premises at Tenant's sole cost.
F. Sue for eviction, specific enforcement, equitable relief, rent, damages, or any other available remedy.
G. Apply the Security Deposit in any manner permitted by this Lease, and/or increase the amount of the Security Deposit.
H. Cure Tenant's default, and if Landlord so elects, Tenant must reimburse Landlord within thirty (30) days after Landlord delivers an invoice for the cure amounts paid or to be paid plus any reasonable expenses Landlord incurred effecting compliance with Tenant's obligations.
I. Withhold or suspend any payment that this Lease would otherwise require Landlord to make.
J. Charge interest on any amount not paid when due through the date of its payment at the Default Interest Rate (as set forth in Paragraph 40).
K. Recover, but only if Tenant fails to pay Rent and Landlord terminates this Lease or Tenant's right of possession with more than twelve (12) months remaining in the Term of this Lease, liquidated rental damages for the period after any such termination equal to twelve (12) times the monthly Rent due at the time of termination in lieu of any other contractual or legal measure of damages (including re-letting costs) for Tenant's non-payment of Rent, and the parties agree this is a reasonable estimate of Landlord's damages for such a breach given the uncertainty of future market rental rates and of the duration of any vacancy.
L. Exercise all other remedies available to Landlord at law or Law, in equity, Landlord has the right to terminate this Lease upon not less than 60 days prior written notice to Tenant; providedor otherwise (including, howeverwithout limitation, that in the case of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully injunctive relief and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in this Leaseany other remedy available under applicable Law).
(b) Upon termination of this Lease by Landlord pursuant to this § 9.2, Tenant must pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises for a period that is equal to, shorter, or longer than the Term.
Appears in 1 contract
Samples: Conventional Hangar Lease
Remedies of Landlord. If any one or more events of default shall -------------------- happen, then Landlord shall have the right at Landlord's election, then or at any time thereafter while in default, upon ten days notice, to reenter and take possession of the Premises or any part thereof and repossess the same as 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 breach of covenants or prior conditions and without terminating this Lease. Should Landlord elect to reenter as provided in this Subsection, or should Landlord take possession pursuant to legal proceedings or pursuant to any notice provided for by law including a proceeding for possession pursuant to Colorado's Forcible Entry and unlawful Detainer Statutes, Landlord may, from time to time, without terminating this Lease either;
(ai) Upon Relet the occurrence Premises or any part thereof in Landlord's or Tenant's name, but for the account of an Event Tenant, for a term or terms (which may be greater or less than the period which would otherwise have constituted the balance of Default by Xxxxxxthe term of this Lease) and on conditions and upon other terms (which may include concessions of free rent and alteration and repair of the Premises) as Landlord, in addition its sole discretion, may determine, and Landlord may collect and receive the rents. Landlord shall use reasonable efforts to relet the remedies described in § 9.3 Premises and maximize the income generated by the Premises. No 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 such intention be given to Tenant. No notice from Landlord hereunder or under a forcible entry and unlawful detainer statute or similar law shall constitute an election by Landlord to terminate this Lease unless such notice specifically so states. Landlord reserves the right following any other remedies available reentry and/or reletting to Landlord at law or in equity, Landlord has the exercise its right to terminate this Lease upon not less than 60 days prior by giving Tenant written notice to Tenant; providednotice, however, that in which event the Lease will terminate as specific in the case notice.
(ii) If Landlord elects to take possession of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in this Subsection (a) without terminating the Lease., Tenant shall pay to Landlord (1) the Rent and other sums due under this Lease which would be payable if repossession had not occurred, less (2) the net proceeds, if any, of any reletting of the Premises after deducting all Landlord's expenses in connection with the 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 of the reletting. If, in connection with any reletting, the new lease term extends beyond the existing term, or the premises covered include other premises not part of the Premises, a fair apportionment of the rent received from the reletting and the expenses incurred in connection with the reletting will be made in determining the net proceeds received from reletting. In addition, in determining the net proceeds from reletting, any rent concession will be apportioned over the term of the new Lease; or
(b) Upon termination To give Tenant written notice of intention to terminate this Lease on the date of the notice, or on any later date specified in the notice. Tenant's right to possession of the Premises shall cease and the Lease shall thereupon be terminated, except as to Tenant's liability under this Lease, as if the expiration of the term fixed in the notice were the end of the term originally demised, including as extended by the exercise of any options granted to Tenant. If this Lease is terminated pursuant to the provisions of this Lease by Landlord Subsection (b), or terminated pursuant to this § 9.2a proceeding for possession under the Colorado Forcible Entry and Unlawful Detainer Statutes, Tenant must pay shall remain liable to Landlord for damages in an amount equal to the Rent payable and other sums which would have been owing by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before for the Expiration Date. In additionbalance of the Term had this Lease not been terminated, Tenant is liable less the net proceeds, if any, of any reletting of the Premises by Landlord subsequent to pay the termination, after deducting all Landlord's expenses in connection with such reletting, as damagesincluding, but without limitation, the aggregate of expenses enumerated in Subsection (a) above. Landlord shall be entitled to collect damages from Tenant monthly on the days on which the Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as other amounts would have been payable if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises for a period that is equal to, shorter, or longer than the Term.
Appears in 1 contract
Samples: Agreement of Understanding (Bi Inc)
Remedies of Landlord. (a) Upon the occurrence of an any Event of Default by Xxxxxxset forth in Section 13.01, Landlord shall have the following rights and remedies, in addition to those allowed by law, any or all of which may be exercised without additional notice or demand upon Tenant.
(A) Landlord may apply the remedies described in § 9.3 and security deposit, or any other remedies available prepaid funds or reenter the Leased Premises and cure any default of Tenant. In such event Tenant shall immediately reimburse Landlord as additional rental for any such costs, and shall restore the security deposit, or other prepaid funds used by Landlord to cure Tenant’s default; and Landlord shall not be liable to Tenant for any loss or damage which Tenant may sustain by reason of Landlord’s actions, whether or not caused by Xxxxxxxx’s gross negligence.
(B) Landlord, at law or in equityany time thereafter, Landlord has the right may at its option give written notice thereof to terminate Tenant stating that this Lease and the Lease Term hereby demised shall expire and terminate on the date specified in such notice, and upon not less than 60 days prior written notice to Tenant; provided, however, that the date specified in the case of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such terminationnotice, this Lease comes to an end as fully and completely the Lease Term hereby demised, and all rights of Tenant under this Lease shall expire and terminate as if the Expiration Date stated in such notice date were the Expiration Date originally fixeddate herein definitely fixed for the termination of the Lease Term, and Xxxxxx must then in which event Tenant shall thereupon quit and surrender the Leased Premises but shall remain liable as hereinafter provided. Landlord may without notice, reenter and repossess the Leased Premises using such force for that purpose as may be necessary without being liable to indictment, prosecution, or damages therefore, and Tenant shall nevertheless remain liable as hereinafter provided for the remainder of the Lease Term. Notwithstanding the termination of this Lease, Landlord as provided in § 6.7may declare all rental which would have been due under the Lease for the balance of the term to be immediately due and payable, but Xxxxxx remains and Tenant shall then be liable for damages arising out the same to Landlord, together with all loss or damage Landlord may sustain by reason of such Event default and termination, it being expressly agreed and understood that such liabilities and remedies herein specified shall survive the termination of Default, as provided in this Lease.
(bC) Upon termination Landlord may, without terminating this Lease, reenter the Leased Premises and at its option, repair and alter the Leased Premises in such manner as Landlord may deem necessary or advisable, and/or let or relet the premises or any parts thereof for the whole or any part of this the remainder of the Lease Term for a longer period, in Landlord’s name or as agent of Tenant, and out of any rental collected or received as a result of such letting or reletting Landlord shall first, pay to itself the cost and expense of retaking, repossessing, repairing and/or altering the Leased Premises, and the cost and expense of removing all personal property therefrom; second, pay to itself the cost and expense sustained in securing any new tenants, and if Landlord shall maintain and operate the Leased Premises, the reasonable cost and expense of operating and maintaining the Leased Premises; and, third, pay to itself any balance remaining on account of the liability of Tenant to Landlord. No reentry by Landlord pursuant to this § 9.2, shall absolve or discharge Tenant must pay to from liability hereunder. Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains shall in no way be responsible or liable for any breach of Tenant’s obligations under this Lease occurring before failure to relet the Expiration Date. In additionLeased Premises or any part thereof, Tenant is liable or for any failure to pay Landlord, as damages, the aggregate of Rent remaining in the Termcollect any rental due on any such reletting.
(cD) Tenant must pay Rent in the same manner, Landlord may sue for injunctive relief or to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must be determined by deducting recover damages for any loss resulting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises for a period that is equal to, shorter, or longer than the Termbreach.
Appears in 1 contract
Samples: Office Lease
Remedies of Landlord. (a) Upon the occurrence of If an Event of Default by Xxxxxxoccurs, Landlord, may, at its option, within 10 days after written notice to Tenant, reenter the Leased Premises, remove all persons therefrom, take possession of the Leased Premises, and remove all of Tenant's personal property at Tenant's risk and expense and, either (i) terminate this Lease and Tenant's right of possession of the Leased Premises or (ii) maintain this Lease in addition full force and effect and endeavor to relet all or part of the remedies described in § 9.3 and any other remedies available Leased Premises. In the event Landlord elects to Landlord at law or in equitymaintain this Lease, Landlord has shall have the right to relet the Leased Premises for such rent and upon such terms as Landlord deems reasonable and necessary, and Tenant shall be liable for all damages sustained by Landlord, including but not limited to, any deficiency in Rent for the period of time which would have remained in the Lease Term in the absence of any termination, leasing fees, attorneys' fees, other marketing and collection costs, the cash value of any concessions granted to Tenant and all expenses of placing the Leased Premises in first class rentable condition. Landlord retains the right to terminate this Lease, at any time, notwithstanding that Landlord fails to terminate this Lease upon not less than initially. If Landlord is unable after diligent efforts to relet the Leased Premises within 60 days prior written notice to Tenant; provided, however, that in the case of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in this Lease.
(b) Upon after termination of this Lease, Landlord may elect at any time thereafter to have Tenant immediately pay, as liquidated damages and not as a penalty, all Rent then due and the present value (discounted at 10%) of all Rent which would have become due (based on Base Rent and Tenant's Pro Rata Share of Excess Operating Costs payable at the time of such election and the cash value of any concessions granted to Tenant) for the period of time which would have remained in the Lease by Term in the absence of any termination. If Landlord pursuant to this § 9.2, Tenant must pay to Landlord Rent payable relets the Leased Premises within 120 days after payment by Tenant to Landlord up to shall refund the Expiration Date, and Xxxxxx remains liable for any breach lesser of Tenant’s obligations under this Lease occurring before (i) the Expiration Date. In addition, amount paid by Tenant is liable to pay Landlord, as damages, or (ii) the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts amount paid or to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with replacement tenant for the net rents that Landlord actually receives from a reletting balance of the Premises. Net rents must be determined by deducting from the gross rentsLease Term, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate less Landlord’s damages, including making reasonable efforts 's cost to relet the Premises Leased Premises. The remedies granted to Landlord herein shall be cumulative and shall not exclude any other remedy allowed by law, and shall not prevent the enforcement of any claim Landlord may have against Tenant for anticipatory breach of the unexpired term of this Lease, including without limitation, a period that is equal to, shorter, or longer than the Termclaim for attorney's fees incurred by Landlord.
Appears in 1 contract
Samples: Lease Agreement (Seagate Software Information Management Group Holdings Inc)
Remedies of Landlord. (a) The remedies provided Landlord under this Lease are cumulative.
A. Upon the occurrence of an Event of Default by Xxxxxxany default, Landlord may serve notice on Tenant that the Term and the estate hereby vested in addition to the remedies described in § 9.3 Tenant and any and all other remedies available to Landlord at law or rights of Tenant hereunder shall cease on the date specified in equity, Landlord has such notice and on the right to terminate specified date this Lease upon not less than 60 days prior written notice to Tenant; provided, however, that shall cease and expire as fully and with tile effect as if the Term had expired for passage of time.
B. Without terminating this Lease in the case of a non-monetary Event of Default by Tenant that poses an immediate threat to the health default or safety of persons or propertyif this Lease shall be terminated for default as provided herein, Landlord has may re-enter the right Premises, remove Tenant, or cause Tenant to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if be removed from the Expiration Date stated Premises in such notice were the Expiration Date originally fixedmanner as Landlord may deem advisable, with or without legal process, and Xxxxxx must then quit and surrender using such reasonable force as may be necessary. In the Premises event of re-entry without terminating this Lease, Tenant shall continue to Landlord as provided in § 6.7, but Xxxxxx remains be liable for damages arising out of such Event of Default, as provided in all Rents and other charges accruing or coming due under this Lease.
C. If Landlord, without terminating this Lease, shall re-enter the Premises or if this Leas? shall be terminated as provided in paragraph (ba) Upon termination above:
(1) All Rent due from Tenant to Landlord shall thereupon become due and shall be paid up to the time of re-entry, dispossession or expiration, together with reasonable costs and expenses (including, without limitation, attorney's fees) of Landlord;
(2) Landlord, without any obligation to do so, may relet the Premises or any part thereof for a term or terms which may at Landlord's option be less than or exceed the period which would otherwise have constituted the balance of the Term and may grant such concessions in reletting as Landlord, in the exercise of its reasonable business judgment, deems desirable. In connection with such reletting, Tenant shall be liable for all costs of the reletting including, without limitation, rent concessions, leasing commissions, legal fees and alteration and remodeling costs; and
(3) If Landlord shall have terminated this Lease, Tenant shall also be liable to Landlord for all damages provided for in law and under this Lease resulting from Tenant's breach including, without limitation, the difference between the aggregate rentals reserved under the terms of this Lease by Landlord pursuant to this § 9.2, Tenant must pay to Landlord for the balance of the Term together with all other sums payable hereunder as Rent payable by Tenant to Landlord up to for the Expiration Date, and Xxxxxx remains liable for any breach balance of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in , less the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting fair rental value of the Premises for that are allocable period determined as of the date of such termination. For purposes of this paragraph, Tenant shall be deemed to include any guarantor or surety of the Lease.
D. Tenant hereby waives all right to trial by jury in any claim, action, proceeding or counterclaim by either Landlord or Tenant against each other or any matter arising out of or in any way connected with this Lease, the relationship of Landlord and Tenant, and/or Tenant's use or occupancy or the Premises.
E. In addition to the Term. In no event is Tenant entitled to receive above, Landlord shall have any excess of such net rents over the sums that Tenant must pay to and all other rights provided a Landlord under this Lease. If Landlord terminates this Lease law or equity for breach of a lease or tenancy by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises for a period that is equal to, shorter, or longer than the TermTenant.
Appears in 1 contract
Samples: Office Lease (Texen Oil & Gas Inc)
Remedies of Landlord. 36.1 If an event of default set forth in Section 35.1 occurs, including repeated default under Section 35. 1 (a) Upon i), the occurrence of an Event of Default by XxxxxxLandlord shall have the following rights and remedies, in addition to the remedies described in § 9.3 and any all other remedies available to Landlord at law or in equity, and none of the following whether or not exercised by the Landlord has shall preclude the exercise of any other right or remedy whether herein set forth or existing at law or equity, and all such remedies shall be cumulative:
(a) Landlord shall have the right to terminate this Lease upon not less by giving the Tenant notice in writing at any time. No act by or on behalf of the Landlord, such as entry of the Leased Premises by the Landlord to perform maintenance and repairs and efforts to relet the Leased Premises, other than 60 days prior giving the Tenant written notice to Tenant; provided, however, that in the case of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in shall terminate this Lease.
(b) Upon termination of this Lease by . If the Landlord pursuant to this § 9.2gives such notice, Tenant must pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays Term hereof as well as the right, title and interest of the Tenant under this Lease shall wholly cease and expire in connection the same manner and with the reletting same force and effect (except as to the Tenant's liability) on the date specified in such notice as if such date were the expiration date of the Premises that are allocable Term of this Lease without the necessity of re-entry or any other act on the Landlord's part. Upon any termination of this Lease, the Tenant shall quit and surrender to the TermLandlord the Leased Premises as set forth in Section 37.
1. In no event If this Lease is terminated, the Tenant shall be and remain liable to the Landlord for damages as hereinafter provided and the Landlord shall be entitled to receive recover forthwith from the Tenant as damages an amount equal to the total of:
(i) the cost, including reasonable attorneys' fees, of enforcing any excess provision of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason , defending counterclaims, crossclaims or third party actions, and of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet recovering the Premises for a period that is equal to, shorter, or longer than the Term.Leased Premises:
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Remedies of Landlord. (a) Upon If TENANT defaults in payment of any rent or expenses required by this lease, or if TENANT shall be in default in the occurrence performance of an Event of Default by Xxxxxx, in addition to the remedies described in § 9.3 and any other remedies available to Landlord covenant, agreement, or condition of this lease which are not cured, TENANT shall at law or in equity, Landlord has the right to terminate this Lease upon not less than 60 days prior written notice to Tenant; provided, however, that in the case once deliver peaceable possession of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7LANDLORD. If TENANT fails to do so, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in this Lease.
(b) Upon termination of this Lease by Landlord pursuant to this § 9.2, Tenant must pay to Landlord Rent payable by Tenant to Landlord up to LANDLORD may declare the Expiration Date, lease term ended and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, may reenter and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting take possession of the Premises. Net rents must be determined by deducting from In the gross rentsevent LANDLORD elects to reenter the property, as and when Landlord receives LANDLORD may either declare the gross rents from such reletting, the reasonable expenses that Landlord incurs lease term ended for all or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting any part of the Premises that are allocable or, without terminating the lease, may from time to the Term. In no event is Tenant entitled to receive any excess of time make such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts alterations or repairs as may be necessary to relet the Premises. LANDLORD may then relet all or any part of the Premises for such rent and other conditions as LANDLORD in LANDLORD’S sole discretion determines advisable. All rentals received by LANDLORD from such reletting shall be applied first to the payment of any indebtedness other than rent due from TENANT to LANDLORD, next to the payment of any costs or expenses of such reletting (including brokerage fees and attorney fees and the costs of such alterations and repairs), and finally to the payment of rent and additional charges due and unpaid under this lease, together with interest at the rate of twelve (12%) per year. The residue, if any, shall be held by LANDLORD and applied to the payment of future rent as it may become due and payable under this lease. Upon such reentry, LANDLORD either with or without due process of law may remove TENANT or any persons occupying the property using such force as may be reasonably necessary to do so and may then relet without waiving any remedies which otherwise might be used for rental arrearage or breach of the lease provisions. The acceptance of rent by LANDLORD, whether in a period that is equal tosingle instance or repeatedly or after any knowledge of TENANTS breach of payment, shorter, shall not be construed as a waiver of any of LANDLORD’S rights to proceed under the remedies provided by this lease or longer than the Termprovided by applicable law.
Appears in 1 contract
Samples: Lease Agreement (Accuride Corp)
Remedies of Landlord. If a default occurs, and at any time thereafter while Tenant remains in default, Landlord may do any one or more of the following without any notice or demand:
(a) Upon the occurrence of an Event of Default by XxxxxxTerminate this Lease, in addition which event Tenant shall immediately surrender the Leased Premises to Landlord. If Tenant fails to do so, Landlord may, without any further notice and without prejudice to any other remedy Landlord may have for possession or arrearages in Rental, enter upon and take possession of the Leased Premises and remove Tenant and its effects without being liable to prosecution or any claim for damages therefor, and Tenant shall indemnify Landlord for all loss and damage which Landlord may suffer by reason of such termination, whether through inability to relet the Leased Premises or otherwise, including any loss of Rental for the remainder of the Term.
(b) If the default relates to nonpayment of Rental, terminate this Lease, in which event Tenant's default shall be deemed a total and entire breach of Tenant's obligations under this Lease and Tenant immediately shall become liable for damages in an amount equal to the remedies described excess of (i) the total Base Rental for the remainder of the Term discounted at the Prime Rate to the then present value, together with all other expenses incurred by Landlord in § 9.3 connection with Tenant's default, all sums due pursuant to Section 15.5 thereof, and the unpaid Rental due as of the date of termination, over (ii) the fair market rental value of the Leased Premises on a net basis for the balance of the Term discounted at the Prime Rate to the then present value. It is acknowledged, intended and agreed that the amounts which Landlord is entitled to recover under this Section 15.2(b) constitute liquidated damages and not a penalty for Tenant's defaults related to nonpayment of Rental. Such amounts constitute the parties' best, good faith, and reasonable estimate of the damages which would be suffered by Landlord in the event any other remedies available such default occurs, the exact amount of such damages being difficult or impractical to calculate.
(c) Enter upon and take possession of the Leased Premises as Tenant's agent without terminating this Lease and without being liable to prosecution to any claim for damages therefor, and Landlord may relet the Leased Premises as Tenant's agent and receive the Rental therefor, in which event Tenant shall pay to Landlord at law or in equityon demand all sums due pursuant to Section 15.5 hereof, Landlord has the right to terminate this Lease upon not less than 60 days prior written notice to Tenanttogether with any deficiency that may arise by reason of such reletting; provided, however, that in Landlord shall have no duty to relet the case of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixedLeased Premises, and Xxxxxx must then quit and surrender the Premises Landlord's failure to Landlord as provided in § 6.7, but Xxxxxx remains liable do so shall not release or affect Tenant's liability for damages arising out of such Event of Default, as provided in this LeaseRental or for damages.
(bd) Upon termination of this Lease by Landlord pursuant Do whatever Tenant is obligated to this § 9.2, Tenant must pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for any breach of Tenant’s obligations do under this Lease occurring before and enter the Expiration Date. In additionLeased Premises, Tenant is without being liable to pay Landlordprosecution or any claim for damages therefor, as damagesto accomplish such purpose. Tenant shall reimburse Landlord immediately upon demand for any reasonable expenses which Landlord incurs in this effecting compliance with this Lease on Tenant's behalf, together with interest thereon at the aggregate of Rent remaining Highest Lawful Rate from the date Landlord incurs the expense in the Termquestion until Landlord is reimbursed therefor.
(ce) Require Tenant must to pay Rent any Rental in quarterly installments in advance of each calendar quarter during the same mannerTerm by certified or cashier's check.
(f) In the event of a monetary default, without notice, alter the locks and any other security device or devices which allow Tenant access to the same extentLeased Premises or the Building, and at Landlord shall not be required to provide a new key or right of access to Tenant, and restrict or terminate any right to use parking facilities associated with the same time Building as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant well as Building services to the preceding sentence, Landlord must credit Tenant with Leased Premises. This Section 15.2(f) is intended to and shall supersede the net rents that Landlord actually receives from a reletting provisions of Section 93.002 of the Premises. Net rents must Texas Property Code; provided, however, Tenant shall be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable permitted access to the Term. In no event is Leased Premises to the extent necessary for Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises for a period that is equal to, shorter, or longer than the Termmaintain compliance with applicable securities laws.
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Remedies of Landlord. (a) Upon the occurrence of an any Event of Default by Xxxxxxset forth in Section 15.01, Landlord shall have the following rights and remedies, in addition to those allowed by law or equity, any one or more of which may be exercised without further notice to or demand upon Tenant:
A. Landlord may cancel and terminate this Lease and, with appropriate legal process or otherwise in accordance with Section 83.05, Florida Statutes, dispossess Tenant;
B. Landlord may without terminating or canceling this Lease declare the remedies described present value of all amounts and rents due under this Lease for the remainder of the existing Lease Term to be immediately due and payable, and thereupon all rents and other charges due hereunder to the end of the then current Lease Term, shall be accelerated. In such event Additional Rental due until the end of the then current lease term shall be calculated by adding the amount of five percent (5%) per year to the amount of Additional Rental last payable by Tenant under this Lease. An annual discount rate of five percent (5%) shall be used in § 9.3 calculating the present value of sums due to Landlord in the event of such acceleration. If Landlord exercises its remedy to retake possession of the Premises and collects from Tenant the full amount of the accelerated Rent as set forth above or otherwise determined by court order, Landlord shall account to Tenant, on an annual basis through the date of expiration of the Lease Term, for amounts actually collected by Landlord as a result of a reletting during the Lease Term, after deducting and net of Landlord’s reletting expenses, re-tenanting the space, including but not limited to, costs of alterations, repairs and tenant construction, real estate broker fees, legal and architectural fees and costs, and any other remedies available damages and obligations of Tenant arising from the default.
C. Landlord may, with appropriate legal process or otherwise in accordance with Section 83.05, Florida Statutes, elect to Landlord at law or enter and repossess the Premises and relet the Premises for Tenant’s account, holding Tenant liable in equity, Landlord has the right to terminate this Lease upon not less than 60 days prior written notice to Tenant; provided, however, that in the case of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if the Expiration Date stated damages for all expenses incurred in such notice were reletting and for any difference between the Expiration Date originally fixedamount of rent received from such reletting and the amount due and payable under the terms of this Lease;
D. Landlord may, and Xxxxxx must then quit and surrender with appropriate legal process or otherwise in accordance with Section 83.05, Florida Statutes, enter upon the Premises and do whatever Tenant is obligated to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in this Lease.
(b) Upon termination do under the terms of this Lease by (and Tenant shall reimburse Landlord pursuant to this § 9.2, Tenant must pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable on demand for any breach of expenses which Landlord may incur in effecting compliance with Tenant’s obligations under this Lease occurring before the Expiration Date. In additionLease, Tenant is and Landlord shall not be liable to pay Landlord, as damages, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, for any damages resulting to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises for a period that is equal to, shorter, or longer than the Termaction).
Appears in 1 contract
Samples: Office Lease Agreement (Twinlab Consolidated Holdings, Inc.)
Remedies of Landlord. In the case of any such dispossession by summary proceedings or other legal actions or proceedings, (a) Upon the occurrence of an Event of Default by Xxxxxx, in addition Fixed Rent and additional rent shall become due thereupon and be paid to the remedies described time of such dispossession, together with such expenses as Landlord may incur for reasonable attorneys' fees, brokerage, and/or putting the Premises in § 9.3 good order, or for preparing the same for re-rental; (b) Landlord may re-let the Premises or any part or parts thereof, either in the name of Landlord or otherwise, for a term or terms, which may at Landlord's option be less than or exceed the period which would otherwise have constituted the balance of the Term and may grant market concessions or free rent; and/or (c) Tenant or the legal representative of Tenant shall also pay Landlord as liquidated damages for the failure of Tenant to observe and perform said Tenant's covenants herein contained, any deficiency between the rent hereby reserved and/or covenanted to be paid and the net amount, if any, of the rents collected or to be collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the Term (after first deducting any market concessions granted in such lease(s) such as free rent and any work allowance and all other remedies available costs incurred by Landlord in connection with such lease(s), including brokerage commissions and reasonable attorneys' fees). The failure of Landlord to re-let the Premises or any part or parts thereof shall not release or affect Tenant's liability for damages. Any such damages shall be paid in monthly installments by Tenant on the rent days specified in this Lease and any suit brought to collect the amount of the deficiency for any month or months shall not prejudice in any way the rights of Landlord to collect the deficiency for any subsequent month or months by a similar proceeding. In lieu thereof, Landlord may immediately accelerate such deficiency for the entire balance of the term assuming that the Premises are relet within a reasonable time given the then market conditions at a market rent for a lease for the balance of the term and giving due consideration for market concessions including free rent, work allowance or other economic terms that would be granted in such a lease and costs incurred by Landlord in connection with such lease (including brokerage commissions and reasonable attorneys' fees), discounted to present value using the average of the published prime interest rate (during the 12-month period immediately prior to such acceleration) upon unsecured loans charged by JPMorgan Chase Bank (or Citibank if JPMorgan Chase Bank shall not then have an announced prime rate) on loans of ninety (90) days. Landlord at Landlord's option may make such alterations, repairs, replacements and/or decorations in the Premises as Landlord in Landlord's reasonable judgment considers advisable and necessary for the purpose of re-letting the Premises; and the making of such alterations and/or decorations shall not operate or be construed to release Tenant from liability hereunder as aforesaid. Landlord shall in no event be liable in any way whatsoever for failure to re-let the Premises, or in the event that the Premises are re-let, for failure to collect the rent thereof under such re-letting. Any such action may be an action for the full amount of all rents and damages suffered or to be suffered by Landlord. In the event of a breach or threatened breach by Tenant of any of the covenants or provisions hereof, Landlord shall have the right of injunction and the right to invoke any remedy allowed at law or in equityequity as if re-entry, Landlord has summary proceedings and other remedies were not herein provided for and the right to terminate invoke any remedy at law or in equity which is not inconsistent with the terms of this Lease. Mention in this Lease upon of any particular remedy, shall not less than 60 days prior written notice to Tenant; providedpreclude Landlord from any other remedy, however, that in law or in equity. The foregoing remedies and rights of Landlord are cumulative. Tenant hereby expressly waives any and all rights of redemption granted by or under any present or future laws in the case event of a non-monetary Event of Default by Tenant that poses an immediate threat to the health Tenant's being evicted or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in this Lease.
(b) Upon termination of this Lease by Landlord pursuant to this § 9.2, Tenant must pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable dispossessed for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In additioncause in accordance herewith, Tenant is liable to pay Landlord, as damages, the aggregate of Rent remaining or in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, event of Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting obtaining possession of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event the violation of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet Tenant of the Premises for a period that is equal to, shortercovenants and conditions of this Lease, or longer than the Termotherwise.
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Remedies of Landlord. If any Event of Default occurs and is continuing, Landlord may, at Landlord's option and in addition to all other rights, remedies and recourses afforded Landlord hereunder or by law or equity, do any one or more of the following:
(a) Upon the occurrence of an Event of Default by Xxxxxx, in addition to the remedies described in § 9.3 and any other remedies available to Landlord at law or in equity, Landlord has the right to terminate Terminate this Lease upon not less than 60 days prior by the giving of written notice to Tenant; provided, however, that in which event Tenant shall pay to Landlord the case sum of a non-monetary Event of Default by Tenant that poses an immediate threat (i) all Rent and other amounts accrued hereunder to the health or safety date of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this (ii) all amounts due under SECTION 19.03 and (iii) liquidated damages in an amount equal to (A) the total Rent that Tenant would have been required to pay for the remainder of the Lease comes Term discounted to an end as fully and completely as if present value at the Expiration Date stated prime lending rate (or equivalent rate, however denominated) in effect on the date of termination at the largest national bank with a banking office located in Tarrant County, Texas MINUS (B) the then present fair rental value of the Leased Premises for such notice were the Expiration Date originally fixedperiod, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in this Leasesimilarly discounted.
(b) Upon termination Terminate Tenant's right to possession of the Leased Premises without terminating this Lease by Landlord pursuant the giving of written notice to this § 9.2Tenant, in which event Tenant must shall pay to Landlord (i) all Rent payable by Tenant to Landlord up and other amounts accrued hereunder to the Expiration Datedate of termination of possession, (ii) all amounts due from time to time under SECTION 19.03 and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of (iii) all Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts other sums required hereunder to be paid by Tenant pursuant to during the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting remainder of the PremisesLease Term, diminished by any net sums thereafter received by Landlord through reletting the Leased Premises during said period. Net rents must be determined Reentry by deducting from Landlord in the gross rentsLeased Premises will not affect the obligations of Tenant hereunder for the unexpired Lease Term. Landlord may bring action against Tenant to collect amounts due by Tenant on one or more occasions, as and when Landlord receives without the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting necessity of Landlord's waiting until expiration of the Premises that are allocable to the Lease Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates elects to proceed under this subsection (b), it may at any time elect to terminate this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps pursuant to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises for a period that is equal to, shorter, or longer than the Termsubsection (a).
Appears in 1 contract
Samples: Lease Agreement (Independent Research Agency for Life Insurance Inc)
Remedies of Landlord. If an Event of Default occurs, Landlord -------------------- may then or at any time thereafter:
(a) Upon such notice as is required by Applicable Laws and pursuant to all legal requirements, reenter and repossess the occurrence Building Complex and expel Tenant and those claiming through or under Tenant and remove the effects of an Event both without being deemed guilty of Default any manner of trespass and without prejudice to any remedies for arrears of Rent or preceding breach of this Lease. Should Landlord reenter or take possession pursuant to legal proceedings or any notice provided by XxxxxxApplicable Law, Landlord may, from time to time, without terminating this Lease, relet the Building Complex or any part, in addition Landlord's name but for the account of Tenant, for such periods (which may be greater or less than the period which would otherwise have constituted the balance of the Term) and on such reasonable conditions and terms (which may include reasonable concessions of free rent and alteration and repair of the Building Complex) as Landlord, in its sole and reasonable discretion, determines and Landlord may collect the rents therefor. Landlord shall not be responsible or liable for failure to relet the Premises, or any part thereof, or for any failure to collect any rent due upon such reletting, except to the remedies described in § 9.3 and extent of any other remedies available mitigation requirements of Applicable Laws. No such reentry or repossession or notice from Landlord shall be construed as an election by Landlord to terminate this Lease unless specific notice of such intention is given Tenant. Landlord at law or in equity, Landlord has reserves the right following any reentry and/or reletting to exercise its right to terminate this Lease upon by giving Tenant notice, in which event this Lease will terminate as specified in such notice.
(b) If Landlord takes possession of the Building Complex without terminating this Lease, Tenant shall pay Rent which would be payable if repossession had not occurred, less than 60 the net proceeds, if any, of any reletting of the Building Complex after deducting all of Landlord's reasonable expenses incurred in connection with such reletting, including all repossession costs, brokerage commissions, attorneys' fees and alteration and repair costs (collectively, "Reletting Expenses"). If, in ------------------ connection with any such reletting, the new lease term extends beyond the Term or the premises covered thereby include other premises not part of the Building Complex, a fair apportionment of the rent received from such reletting and the Reletting Expenses will be made in determining the net proceeds received from the reletting. In determining such net proceeds, rent concessions will also be apportioned over the term of the new lease. Tenant shall pay such amounts to Landlord monthly on the days prior written on which the Rent would have been payable if possession had not been retaken, and Landlord is entitled to receive the same from Tenant on each such day; or
(2) Provide Tenant with notice of termination of this Lease on the date therein specified and, on such date, Tenant's right to possession of the Building Complex shall cease and this Lease will terminate (except as to Tenant; 's liability as hereafter provided, however, that in the case of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely ) as if the Expiration Date stated expiration of the term fixed in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender end of the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in this Lease.
(b) Upon termination of Term. If this Lease by Landlord terminates pursuant to this § 9.2Section, Tenant must pay shall remain liable to Landlord for damages in an amount equal to the Rent payable which would have been owing by Tenant to Landlord up to for the Expiration Date, and Xxxxxx remains liable for any breach balance of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of Rent remaining in the Term.
(c) , less the net proceeds, if any, of reletting of the Building Complex by Landlord after deducting Reletting Expenses. Landlord may collect such damages from Tenant must pay monthly on the days on which the Rent in the same manner, to the same extent, and at the same time as would have been payable if this Lease had not been terminated. In calculating the amounts to terminated and Landlord shall be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of the same from Tenant on each such net rents over the sums that Tenant must pay to Landlord under this Leaseday. If Landlord terminates Alternatively, if this Lease by reason is terminated, Landlord, at its option, may recover forthwith against Tenant as damages for loss of the bargain (and not as a penalty) an Event of Default by Xxxxxx, Landlord must take all reasonable steps amount equal to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises for a period that is equal to, shorter, or longer than the Term.worth
Appears in 1 contract
Remedies of Landlord. (a) Upon the occurrence of an Event any event of Default by Xxxxxxdefault set forth in Section 15.01, Landlord shall have the following rights and remedies, in addition to those allowed by law, any one or more of which may be exercised without further notice to or demand upon Tenant;
A. Landlord may re-enter the remedies described Leased Premises and cure any default of Tenant, in § 9.3 which event Tenant shall reimburse Landlord as additional rent for any costs and expenses which Landlord may incur to cure such default; and Landlord shall not be liable to Tenant for any other remedies available to loss or damage which Tenant may sustain by reason of Landlord's action, regardless of whether caused by Landlord's negligence or otherwise.
B 1. Landlord at law or in equity, Landlord has the right to may terminate this Lease upon not less than 60 days prior written notice as of the date of such default, in which event: (i) neither Tenant nor any person claiming under or through Tenant shall thereafter be entitled to Tenantpossession of the Leased Premises, and Tenant shall immediately thereafter surrender the Leased Premises to Landlord; provided(ii) Landlord may re-enter the Leased premises and dispossess Tenant or any other occupants of the Leased Premises by any means permitted by law, howeverand may remove their effects, that without prejudice to any other remedy which Landlord may have for possession or arrearages in rent; and (iii) notwithstanding the case termination of a non-monetary Event of Default by Tenant that poses an immediate threat to the health or safety of persons or propertythis Lease, Landlord has may declare all rent which would have been due under this Lease for the right balance of the term to reduce said 60-day notice period be immediately due and payable, whereupon Tenant shall be obligated to ten days. Upon pay the same to Landlord, together with all loss or damage which Landlord may sustain by reason of such termination, this Lease comes to an end as fully it being expressly understood and completely as if agreed that the Expiration Date stated in such notice were the Expiration Date originally fixed, liabilities and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided remedies specified in this Lease.
subsection (bB) Upon (1) of Section 15.02 shall survive the termination of this Lease by Landlord pursuant to this § 9.2, Tenant must pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises for a period that is equal to, shorter, or longer than the Term.; or
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Remedies of Landlord. (a) Upon the occurrence any Event of an Default, and at any time thereafter while any Event of Default by Xxxxxxremains uncured, Landlord may, at Landlord’s option and in addition to the remedies described in § 9.3 all other rights, remedies, and any other remedies recourses available to Landlord at law or law, in equity, Landlord has or pursuant to this Lease, do any one (1) or more of the right to terminate following:
(a) Terminate this Lease upon not less than 60 days prior by written notice to Tenant; provided, however, that in which event Tenant shall immediately vacate the case Leased Premises and shall simultaneously pay to Landlord the sum of a non-monetary Event of Default by Tenant that poses an immediate threat (i) all Rent and other amounts accrued hereunder to the health or safety date of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully termination and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in this Lease.(ii) all reasonable costs; and/or
(b) Upon termination Without terminating this Lease, terminate Tenant’s right to possession of this Lease the Leased Premises by Landlord pursuant written notice to this § 9.2Tenant, in which event Tenant must shall immediately vacate the Leased Premises and shall simultaneously pay to Landlord (i) all Rent payable by Tenant to Landlord up and other amounts accrued hereunder to the Expiration Date, date of termination of possession; (ii) all amounts due from time to time under Section. 23.3; and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of (iii) all Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts other sums required hereunder to be paid by Tenant pursuant to during the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting remainder of the PremisesTerm as the same become due, diminished by any net sums thereafter received by Landlord through reletting the Leased Premises during said period. Net rents must be determined Reentry by deducting from Landlord in the gross rentsLeased Premises will not affect the obligations of Tenant hereunder for the unexpired Term. Landlord may bring actions against Tenant to collect amounts due by Tenant on one or more occasions, as and when Landlord receives without the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting necessity of the Premises that are allocable to Landlord’s waiting until expiration of the Term. In no event is Tenant entitled If Landlord elects to receive proceed under this Section 23.2(b), Landlord may at any excess time elect to terminate this Lease pursuant to Section 23.2(a); and/or
(c) Subject to the provisions of such net rents over the sums that Tenant must pay Section 23.6, exercise any other right or remedy available to Landlord under pursuant to this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises for a period that is equal to, shorterat law, or longer than the Termin equity.
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Samples: Lease Agreement (Cornerstone Healthcare Plus Reit, Inc.)
Remedies of Landlord. The remedies provided Landlord under this Lease are cumulative.
(a) Upon the occurrence of an Event any default, Landlord may serve notice on Tenant that the Term and the estate hereby vested in Tenant and any and all other rights of Default by XxxxxxTenant hereunder shall cease on the date specified in such notice and on the specified date this Lease shall cease and expire as fully and with the effect as if the Term had expired for passage of time.
(b) Without terminating this Lease in case of a default or if this Lease shall be terminated for default as provided herein, Landlord may reenter the Premises, remove Tenant, or cause Tenant to be removed from the Premises in such manner as Landlord may deem advisable, with or without legal process, and using such reasonable force as may be necessary. In the event of reentry without terminating this Lease, Tenant shall continue to be liable for all Rents and other charges accruing or coming due under this Lease.
(c) If Landlord, without terminating this Lease, shall reenter the Premises or if this Lease shall be terminated as provided in paragraph (a) above:
(i) All Rent due from Tenant to Landlord shall thereupon become due and shall be paid up to the time of reentry, dispossession or expiration, together with reasonable costs and expenses (including, without limitation, attorney fees) of Landlord. Landlord has the remedy described in California Civil Code Section 1951.4 and may continue this Lease in effect after the Tenant’s breach and abandonment of the Premises and recover the Rent as it becomes due under this Lease.
(ii) Landlord, without any obligation to do so, may relet the Premises or any part thereof for a term or terms which may at Landlord’s option be less than or exceed the period which would otherwise have constituted the balance of the Term and may grant such concessions in reletting as Landlord, in the exercise of its reasonable business judgment, deems desirable. In connection with such reletting, Tenant shall be liable for all costs of the reletting including, without limitation, rent concessions, leasing commissions, legal fees and alteration and remodeling costs; and
(iii) If Landlord shall have terminated this Lease, Tenant shall also be liable to Landlord for all damages provided for at law and under this Lease resulting from Tenant’s breach, including, without limitation, the right to recover 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 such rental loss that the Tenant proves could be reasonably avoided. For purposes of this paragraph, Tenant shall be deemed to include any guarantor or surety of the Lease.
(d) LANDLORD AND TENANT HEREBY WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY CLAIM, ACTION PROCEEDING OR COUNTERCLAIM BY EITHER LANDLORD OR TENANT AGAINST THE OTHER OR ANY MATTER ARISING OUT OF OR IN ANY WAY CONNECTED WITH THIS LEASE, THE RELATIONSHIP OF LANDLORD AND TENANT, AND/OR TENANT’S USE OR OCCUPANCY OR THE PREMISES.
(e) In addition to the remedies described in § 9.3 above, Landlord shall have any and any all other remedies available to Landlord rights provided a landlord at law or in equity, Landlord has including, but not limited to, those remedies provided for by laws, statutes, ordinances, governmental regulations or requirements of the right to terminate this Lease upon not less than 60 days prior written notice to Tenant; providedUnited States, howeverthe State in which the Building is located or any local government authority or agency or any political subdivision thereof, that now or hereafter in the case effect, for breach of a non-monetary Event of Default lease or tenancy by Tenant that poses an immediate threat to the health or safety of persons or property, Landlord has the right to reduce said 60-day notice period to ten days. Upon such termination, this Lease comes to an end as fully and completely as if the Expiration Date stated in such notice were the Expiration Date originally fixed, and Xxxxxx must then quit and surrender the Premises to Landlord as provided in § 6.7, but Xxxxxx remains liable for damages arising out of such Event of Default, as provided in this Leasea tenant.
(b) Upon termination of this Lease by Landlord pursuant to this § 9.2, Tenant must pay to Landlord Rent payable by Tenant to Landlord up to the Expiration Date, and Xxxxxx remains liable for any breach of Tenant’s obligations under this Lease occurring before the Expiration Date. In addition, Tenant is liable to pay Landlord, as damages, the aggregate of Rent remaining in the Term.
(c) Tenant must pay Rent in the same manner, to the same extent, and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence, Landlord must credit Tenant with the net rents that Landlord actually receives from a reletting of the Premises. Net rents must be determined by deducting from the gross rents, as and when Landlord receives the gross rents from such reletting, the reasonable expenses that Landlord incurs or pays in terminating this Lease and the reasonable expenses that Landlord incurs or pays in connection with the reletting of the Premises that are allocable to the Term. In no event is Tenant entitled to receive any excess of such net rents over the sums that Tenant must pay to Landlord under this Lease. If Landlord terminates this Lease by reason of an Event of Default by Xxxxxx, Landlord must take all reasonable steps to mitigate Landlord’s damages, including making reasonable efforts to relet the Premises for a period that is equal to, shorter, or longer than the Term.
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