REMEDIES OF LESSOR. Upon the occurrence of any Event of Default and at any time thereafter, Lessor may, in its sole discretion and without notice, exercise one or more of the following remedies without any presentment, demand or protest: (a) terminate the Agreement and all of Lessee's rights as to any or all items of Property; (b) proceed by appropriate court action to personally, or by its agents, take possession from Lessee of any or all items of Property wherever found and for this purpose enter upon Xxxxxx's premises where any item of Property is located and remove such item of Property free from all claims of any nature whatsoever by Xxxxxx and Lessor may thereafter dispose of the Property; provided, however, that any proceeds from the disposition of the Property in excess of the sum required to (i) pay to Lessor an amount equal to the total unpaid principal component of Lease Payments and any other amounts then due under this Agreement, and (iii) pay Lessor's costs and expenses associated with the disposition of the Property and the Event of Default (including attorney’s fees), shall be paid to Lessee or such other creditor of Lessee as may be entitled thereto, and further provided that no deficiency shall be allowed against Lessee; (c) proceed by appropriate court action(s) to enforce performance by Lessee of its obligations or to recover damages for the breach or pursue any other remedy available to Lessor at law or in equity or otherwise; (d) declare all unpaid Lease Payments and other sums payable during the current fiscal year of the Lease Term to be immediately due and payable and / or take any and all actions to which Lessor shall be entitled under applicable law. No right or remedy herein conferred upon or reserved to Lessor is exclusive of any right or remedy, but each shall be cumulative of every other right or remedy given at law or in equity or by statute or otherwise. Xxxxxx agrees to pay or reimburse Lessor for, in addition to all other amounts due, all of Lessor's costs of collection, including reasonable attorney fees, whether or not suit or action is filed. UNLESS PROHIBITED BY LAW, XXXXXX AND LESSOR HEREBY IRREVOCABLY WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT.
REMEDIES OF LESSOR. Lessee hereby agrees that the occurrence of any one or more of the events of default set out in Article X hereof, shall also constitute an event of default under each of the Development Financing documents, thereby entitling Lessor, after the expiration of any applicable cure period, at its option, to proceed to exercise any or all of the following remedies:
REMEDIES OF LESSOR. If default be made by Lessee in the payment of the rentals and royalties herein and such default shall continue for a period of fifteen (15) days after written notification thereof has been posted to Lessee, then in each such event, Lessor may, at its option, terminate this Lease without any further notice and re-enter upon and take possession of the Leased Premises and hold and possess the same as its absolute property free and clear of any claims of, by, or through Lessee, and pursue any and all other remedies available under the laws of the State of Illinois for violation of any covenant or condition hereof, and all such remedies shall be deemed cumulative and not exclusive. If default be made by Lessee in the performance of any of the other terms or conditions hereof required to be kept of performed by Lessee and such default shall continue for a period of thirty (30) days after written notification thereof has been posted to Lessee, and in the event that Lessee is not reasonably engaged in curing the said default, then in such event, Lessor may, at its option, terminate this Lease without any further notice and re-enter upon and take possession of the Leased Premises and hold and possess the same as its absolute property free and clear of any claims of, by or through Lessee, and pursue any and all other remedies available under the laws of the State of Illinois for violations of any covenant or condition hereof, and all such remedies shall be deemed cumulative and not exclusive. Lessee shall notify Lessor of its proposed cure actions and continue to keep Lessor informed on a regular basis of the actions taken and results thereof. No action by Lessor pursuant to this Section 7 shall impair the right to rental and royalties due or accrued up to the time of termination and re-entry hereunder, but none shall be charged for any period thereafter. Lessee further agrees that if the interest of Lessee in the Leased Premises shall be sold on execution or judicial sale, or if bankruptcy proceedings be begun by Lessee, or if Lessee be adjudged a bankrupt, or it makes an assignment for the benefit of creditors, or a receiver be appointed for it or for the Leased Premises, or if an assignment occurs by operation of law, then, and in any such event, this Lease shall forthwith terminate and be forfeited and the Leased Premises and all improvements thereon shall forthwith become the property of Lessor, without compensation to Lessee, and without refund of any royalti...
REMEDIES OF LESSOR. If the Lessee
REMEDIES OF LESSOR. All rights and remedies of Lessor herein set forth are in addition to any and all rights and remedies which are or may be available to Lessor at law or in equity.
REMEDIES OF LESSOR. Upon the occurrence of a default by Lessee hereunder and at any time thereafter (subject to any applicable grace provisions), Lessor may exercise any one or more of the following remedies, as Lessor, in its sole discretion, shall select: (a) declare all unpaid rentals under this Lease to be immediately due and payable; the amount to be due to be computed as hereinafter set forth; (b) terminate this Lease as to any or all items of Equipment but no such termination shall be deemed to occur unless written notice to that express effect is given by Lessor to Lessee; (c) whether or not this Lease is terminated, take immediate possession of any or all of the Equipment without notice or demand and without court order or process, and for such purpose, enter upon any premises without liability for so doing; (d) sell, lease or otherwise dispose of the Equipment or any item thereof, at a public or private sale or lease at such time or times and upon such terms as Lessor may determine, free and clear of any rights of Lessee; (e) proceed by appropriate action either at law or in equity to enforce performance by Lessee of the applicable covenants of this Lease or recover damages for the breach thereof; and (f) exercise any and all rights accruing to a lessor of personal property under any applicable law upon a default by a lessee. Upon default, the Lessor shall be entitled to recover immediately as liquidated damages the sum of (a) all past due amounts owing under this Lease, including late charges and interest, (b) property taxes accrued or to be accrued during the lease term for the Equipment, which may be estimated by the Lessor, (c) all future payments yet to become due discounted to present value at 5% per annum, and (d) interest on all amounts past due hereunder at the rate of 18% per annum. In addition to the foregoing liquidated damages, Lessee will also be responsible for all recovery costs that Lessor incurs after a default, including, but not limited to, attorneys' fees and all other out-of-pocket costs associated with enforcing the Lessee's obligations or in repossessing the Equipment. If the Lessor sells or releases the Equipment, the liquidated damages for which Lessee is responsible will be credited for the present value of the sale or release proceeds. No right or remedy conferred upon or reserved to Lessor by this Lease shall be exclusive of an other right or remedy herein or by law provided; all rights and remedies of Lessor conferred on Lessor by this ...
REMEDIES OF LESSOR. Upon the occurrence of any Event of Default by Lessee and at any time thereafter, Lessor may, without any further notice, exercise one or more of the following remedies in its sole discretion: terminate the Property Schedule and all of Lessee's rights as to any or all of the Property financed pursuant thereto; proceed by appropriate court action to personally, or by its agents, take possession from Lessee of any or all of the Property financed pursuant to the Property Schedule wherever found and Lessor may thereafter dispose of such Property; provided, however, that any proceeds from the disposition of such Property in excess of the sum of the following amounts will be paid to Lessee: (a) all costs, including attorneys' fees, incurred in securing possession of such Property; (b) all expenses incurred in completing the disposition of such Property; and (c) the balance of any remaining Lease Payments due in Lessee's current fiscal year for such Property; proceed by appropriate court action or actions to enforce performance by Lessee of its obligations hereunder or to recover damages for Lessee’s breach or pursue any other remedy available to Lessor at law or in equity or otherwise; declare all unpaid Lease Payments and other sums payable under the Property Schedule during the portion of the Lease Term that occurs during Lessee’s current fiscal year to be immediately due and payable without any presentment, demand or protest and/or take any and all actions to which Lessor is entitled under applicable law.
REMEDIES OF LESSOR. 19.01 If Lessee fails to perform any duty or obligation of Lessee under this Lease, Lessor may at its option, without waiver of Default nor any other right or remedy, perform any such duty or obligation on Lessee’s behalf. The costs and expenses of any such performance by Lessor will be immediately due and payable by Lessee upon receipt from Lessor of the reimbursement amount required.
REMEDIES OF LESSOR. In the event LESSEE exercises the Option to Purchase, and the transaction of purchase and sale of the Property contemplated hereby does not Close when and as provided herein for any reason attributable to LESSEE or any person or entity in a relationship to LESSEE (except in the case of a rescission allowed pursuant to Section 6.8.1 above), then such event shall be treated as the giving by LESSEE of a rescission notice under Section 6.8.1 above effective as of the later of the date specified for Closing pursuant to Section 6.4.2 above or the date that LESSOR gives to LESSEE written notice of LESSEE's failure to Close. LESSOR shall accept the payment of costs under Section 6.8.2 above as liquidated damages and as its sole remedy for such a failure of LESSEE to Close.
REMEDIES OF LESSOR. In the event LESSEE breaches this lease and abandons the LEASED PROPERTY, LESSOR shall have all of the remedies of a landlord provided by the Civil Code of the State of California. 13.2.5
