Common use of REMEDIES OF LESSOR Clause in Contracts

REMEDIES OF LESSOR. At any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment.

Appears in 6 contracts

Samples: Master Lease Agreement (Flashnet Communications Inc), Master Lease Agreement (Onsite Access Inc), Master Lease Agreement (GTC Telecom Corp)

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REMEDIES OF LESSOR. At any time 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 the occurrence of any Event of Defaultwritten notification thereof has been posted to Lessee, then in each such event, Lessor may exercise one or more of the following remedies: (a) Lessor may may, at its option, terminate this Lease without any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent further notice and other amounts then due re-enter upon and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the Leased Premises and hold and possess the same may 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 locateddeemed 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 or performed by Lessee and such default shall continue for a period of thirty (30) days after written notification thereof has been posted to Lessee, without demand or noticeand 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 court order 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 process remedies available under the laws of law 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 (including without liability limitation Tonnage Royalties and Quarterly Deficiency Payments) due or accrued up to Lessee the time of termination and re-entry hereunder, but none shall be charged for any damages occasioned by period thereafter. Provided, however, if Lessor, at any time, has provided notice of a Financing Cessation (as defined in the Purchase Agreement) then the cure periods set forth above shall be two hundred seventy (270) days from the date of such taking notice. In the event such Financing Cessation concludes prior to the end of possession, and any such taking 270-day cure period as a result of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item paying the applicable portion of the Equipment, Lessor shall sell, lease or otherwise dispose Purchase Price at an Applicable Closing which was delayed as a result of such item in a commercially reasonable mannerFinancing Cessation, with or without notice and on public or private bid, and apply then Lessee shall have the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, cure periods set forth in the case first two paragraphs of a this Section 7 to cure and correct any defaults that have occurred during the just concluded period of Financing Cessation. 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 rents due benefit of creditors, or a receiver be appointed for any period beyond it or for the scheduled expiration Leased Premises, or if an assignment occurs by operation of such Leaselaw, in the case of any subsequent lease of such itemthen, and all expensesin any such event, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall forthwith terminate and be cumulativeforfeited and the Leased Premises and all improvements thereon shall forthwith become the property of Lessor, without compensation to Lessee, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor without refund of any item of Equipment shall not bar an action for a royalties or deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipmentpayments paid hereunder.

Appears in 4 contracts

Samples: Coal Mining Lease and Sublease Agreement, Coal Mining Lease and Sublease Agreement (Foresight Energy LP), Coal Mining Lease and Sublease Agreement (Foresight Energy Partners LP)

REMEDIES OF LESSOR. At any time after Upon the occurrence of any Event of DefaultDefault and at any time thereafter, Lessor may may, in its sole discretion and without notice, exercise one or more of the following remediesremedies without any presentment, demand or protest: (a) Lessor may terminate any or the Agreement and all of the Leases with respect Lessee's rights as to any or all items of Equipment subject theretoProperty; (b) Lessor may recover proceed by appropriate court action to personally, or by its agents, take possession from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of EquipmentProperty 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, wherever however, that any proceeds from the same 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 located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possessionentitled thereto, and any such taking of possession further provided that no deficiency shall not constitute a termination of any Leasebe allowed against Lessee; (dc) Lessor may demand that proceed by appropriate court action(s) to enforce performance by Lessee return any of its obligations or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may recover damages for the breach or pursue any other remedy available to Lessor at law or in equity, including, without limitation, seeking damages, specific performance equity or an injunctionotherwise; (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. Upon repossession No right or return remedy herein conferred upon or reserved to Lessor is exclusive of any item of the Equipmentright or remedy, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease but each shall be cumulativecumulative 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, and not exclusive, and in addition to any all other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor amounts due, all of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any costs of collection, including reasonable attorney fees, whether or all items of Equipmentnot 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.

Appears in 4 contracts

Samples: Tax Exempt Lease/Purchase Agreement, Tax Exempt Lease/Purchase Agreement, Tax Exempt Lease/Purchase Agreement

REMEDIES OF LESSOR. At any time after If Lessee shall default in the occurrence payment of the rent reserved herein, or in the payment of any Event items of Defaultadditional rent or other monies, Lessor may exercise due hereunder, or any part of same, or Lessee shall default in the observance of any of the other terms, covenants and conditions of this lease; or if the demised premises must be abandoned, deserted or vacated, or if Lessee shall sublet the demised premises or assign this lease except as herein provided; or If Lessee shall make an assignment for the benefit of creditors, or file a voluntary petition in bankruptcy or be adjudicated bankrupt by any court and such adjudication shall not be vacated within thirty (30) days or Lessee takes the benefit of any insolvency act, or Lessee be dissolved voluntarily or involuntarily or have a receiver of Lessee's property appointed in any proceedings other than bankruptcy proceedings, and such appointment shall not be vacated within thirty (30) days after it has been made; then, upon the happening of any one or more of the following remedies: (a) defaults or events specified above, this lease and the term hereof shall at the option and election of the Lessor wholly cease and terminate, and thereupon or at any time thereafter, Lessor may terminate any re-enter said premises either by force or all otherwise and have possession of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor same and/or may recover from possession thereof by summary proceedings otherwise, but Lessee all Rent and other amounts then due and shall remain liable to become due under any Lessor. If Lessee shall default in the performance or all of the Leases; (c) Lessor may take possession observance of any term or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law condition in this lease and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; cure such default within such thirty (d30) day period and thereafter proceed with diligence to complete such cure Lessor may demand that may, but shall not be obligated to cure such default by Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16under this lease; and (e) whenever Lessor may pursue any other remedy available at law or in equityso elects all costs and expenses incurred by Lessor, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, including reasonable attorneys' fees, incurred in connection therewith) towards curing a default shall be paid by Lessee to Lessor on demand, together with interest thereon from the Rent and other amounts due under such Lease, with date of payment by Lessor to date of payment by Lessee. In the event of any excess net proceeds to be retained by Lessor. Each one or more of the remedies under defaults set out above, all payments of rent, additional rent during the term of this Lease shall lease, or any extension thereof, shall, at the option of Lessor, become immediately due and payable in full. Lessor may re-enter the demised premises using such force for the purpose as may be cumulativenecessary without being liable to any prosecution therefore, and not exclusive, Lessor may repair or alter the demised premises in such manner as to Lessor may seem necessary or advisable to re-let the demised premises. The Lessor has the right to re-let said premises and to collect any deficiency in re-letting in addition to any other remedy referred reasonable expenses incurred, however, the Lessee's obligation to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or pay damages must survive the termination of this lease and the election by Lessor of any item single remedy does not preclude the use of Equipment shall any other remedy whether or not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipmentmentioned in this lease.

Appears in 2 contracts

Samples: Office Lease, Office Lease

REMEDIES OF LESSOR. At any time after the occurrence All rights and remedies of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or all of the Leases with respect herein set forth are in addition to any and all rights: and remedies which are or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment available to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity. (a) If Lessee shall fail to pay any rent reserved herein when due, or fails to pay Lessor's charges for water, electrical, or other services within ten (10) days after the rendition of a statement, or defaults in the prompt and full performance of any of Lessee's covenants and agreements hereunder, or if the leasehold interest of Lessee be levied upon, under execution or be attached, or if Lessee makes an assignment for the benefit of creditors, or if a receiver be appointed for any property of Lessee, or if Lessee abandons the premises, then, and in any such event, Lessor may, if Lessor so elects, and with or without notice of such election and with or without demand whatsoever, forthwith terminates this Lease and the Lessee's right to possession of the premises, or Lessor may, without terminating this Lease, terminate Lessee's right to possession of the premises. Lessee hereby waives Lessee's right to trial by jury in connection with any proceedings by Lessor to enforce any of its rights against Lessee under this Lease, including, without limitation, seeking damagesany proceedings to remove Lessee from the premises. (b) Upon the filing of a petition by or against Lessee under the United States Bankruptcy Code, specific (the "Code"), Lessee, as debtor and as debtor in possession, and any trustee who may be appointed shall (i) timely perform each and every obligation of Lessee under this Lease until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; (ii) pay monthly in advance on the first day of each month as reasonable compensation for use and occupancy of the premises an amount equal to the Rent and other charges otherwise due pursuant to this Lease; (iii) provide adequate assurance of future performance under the Lease; (iv) reject or an injunctionassume this Lease within sixty (60) days of the filing of such petition under the Code, and (v) do all other things of benefit to Lessor otherwise required or permitted under the Code. Upon repossession Lessee, as debtor and as debtor in possession, and any trustee, shall be deemed to have rejected this Lease in the event of the failure to comply with any of the above. Included within and in addition to any other conditions or return obligations imposed upon Lessee or its successor in the event of assumption and/or assignment is the prior written consent of any item mortgagee to which this Lease has been assigned as collateral security. (c) Upon termination of this Lease, or upon the termination of Lessee's right to possession without termination of the EquipmentLease, Lessee shall surrender possession and vacate the premises immediately, and Lessor may enter into and repossess the premises with or without process of law and remove all persons and property therefrom in the same manner and with the same right as if this Lease had not been made, and for the purpose of such entry and repossession, Lessee waives any notices provided by law or otherwise to be given in connection therewith. (d) If Lessee abandons the premises, or if Lessor elects to terminate Lessee's right to possession only, without terminating the Lease as above provided, Lessor may remove from the premises any and all property found therein and such repossession shall not release Lessee from Lessee's obligation to pay the rent reserved herein. After any such repossession by Lessor without termination of the Lease, Lessor shall sellmake reasonable efforts to relet the premises, lease or any part thereof, as agent of Lessee to any person, firm, or corporation and for such time and upon such terms as Lessor, in Lessor's sole discretion, may determine. Lessor may make repairs, alterations, and additions in and to the premises and redecorate the same to the extent deemed by Lessor necessary or desirable, and Lessee shall, upon demand, pay the cost thereof, together with Lessor's expense (including any broker's commission) of reletting. If the rents collected by Lessor upon any such reletting are not sufficient to pay monthly the full amount of all rent reserved herein, together with the costs of such repairs, alterations, additions, redecorating, and expenses, Lessee shall pay to Lessor the amount of each monthly deficiency upon demand. (e) Any and all property which may be removed from the premises by Lessor may be handled, removed, stored, or otherwise dispose disposed of by Lessor at the risk and expense of Lessee, and Lessor shall, in no event, be responsible for the preservation or safekeeping thereof. Lessee shall pay to Lessor, upon demand, any and all expenses incurred in such item removal and all storage charges against such property so long as the same shall be in Lessor's possession or under Lessor's control. If any property shall remain in the premises or in the possession of Lessor and shall not be removed by Lessee within a commercially reasonable mannerperiod of ten (10) days from and after the time when the premises are either abandoned by Lessee or repossessed by Lessor under the terms of this Lease, the properly shall conclusively be deemed to have been forever abandoned by Lessee. (f) Lessor and Lessee agree that all of the goods, chattels, trade fixtures, and other personal property belonging to Lessee which are or may be put into the premises during the term, whether exempt or not from sale under execution or attachment, shall, at all times, be bound with a lien in favor of Lessor, and shall be chargeable for all rents hereunder and for the fulfillment of the other covenants and agreements of Lessee herein contained. In the event that Lessee shall have abandoned the premises, or without notice and on in the event of any default of Lessee hereunder, Lessor shall have the right to sell all or any part of said property at public or private bidsale, without giving notice to Lessee or any notice of sale, all notices required by statute or otherwise being hereby expressly waived, and to apply the net proceeds thereof (after deducting the estimated fair market value of such item at sale, first to the expiration payment of all costs and expenses of conducting the term same, or caring for or storing said property; second, toward the payment of the applicable Leaseany indebtedness which may be or may become due from Lessee to Lessor; and, third, to pay to Lessee, on demand, in the case writing, any surplus remaining after all indebtedness of a saleLessee to Lessor has been fully paid. (g) In addition to all other rights and remedies of Lessor hereunder, or the rents due for if Lessee fails to timely perform any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expensesits obligations hereunder, including, without limitation, reasonable attorneys' feesmonetary obligations, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds whether or not Lessor has terminated this Lease or Lessee's right to be retained by Lessor. Each possession of the remedies premises, or either, Lessor may elect to accelerate and make immediately due and payable all of the rent, additional rent, adjusted rent and any other charges or fees which are due or may become due hereunder for the remainder of the term of this Lease. Lessee agrees that Lessor may file suit to recover any sums due under this Lease from time to time and that no suit or recovery of any portion due Lessor hereunder shall be cumulative, and not exclusive, and in addition any defense to any other remedy referred subsequent action brought for any amount not theretofore reduced to herein or otherwise available to Lessor judgment in law or in equity. Any repossession or subsequent sale or lease by Lessor favor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment.

Appears in 2 contracts

Samples: Lease Agreement (Kids Stuff Inc), Lease Agreement (Havana Group Inc)

REMEDIES OF LESSOR. At Lessor shall have the following remedies, in addition to its other rights and remedies contained herein and as provided by law, in the event Lessee breaches this lease agreement. If Xxxxxx fails to pay any month's installment of rent for a period of five (5) days after written notice of default from the Lessor, or shall breach this agreement in any other manner as herein provided, Lessee shall be considered in breach of those agreements and all of the installments of rent for the whole term hereof, shall, at the option of Lessor or its assigns, become due and payable at once without demand. Lessor may then, at his option: Re-enter the premises and Xxxxxx shall surrender to Lessor or its assigns complete and peaceable possession of the premises and equipment herein leased, waiving all other notice of any kind or description. In the event the premises are abandoned or vacant or Lessee shall not be available to surrender the premises, Lessor may re-enter either by force or otherwise without being liable to any prosecution therefore. Re-entry shall not terminate the lease unless Lessor so elects by giving notice of such termination. Upon re-entry, Lessor may remove the property and personnel of Lessee and store the property at the expense of Xxxxxx. Lessor may then proceed at his option to: (a) Terminate this lease by giving thirty (30) days written notice of termination to Lessee. On termination, Lessor shall be entitled to all damages and costs proximately resulting from the breach, including any cost of recovering the premises and all costs of re-lettering the premises including all remodeling and alteration cost and repairs necessary to relet the premises up to the amount of the original improvement made under the original lease. Any difference between the balance of this lease and the costs described above shall be refunded to Lessee and all obligations under this lease shall terminate. (b) Relet the premises for any term without terminating this lease at such rent and on such terms as Lessor may reasonably be able to obtain. Lessor may make any necessary alterations and repairs to the premises and Lessee shall be liable for the same up to the amount of original alterations and improvements provided under this lease. Lessee shall also be liable for all costs and expenses of reletting and for any difference between the rent and the rent installments payable under this lease agreement for the remaining term of this lease. Any difference between the total rent due and payable under the original term of this lease and the costs described above shall be refunded to Lessee at the end of this lease term. Lessor, at its option, shall have the right to apply the rent received from reletting the premises: (1) to reduce Xxxxxx's indebtedness to Lessor under the lease, not including indebtedness for rent, (2) to expenses of the reletting and alterations and repairs made, (3) to rent de under this lease, or (4) to payment of future rent under this lease as it becomes due. Lessee shall continue to be liable under this lease in the event Lessor does not choose to terminate and accordingly if the new tenant does not pay a rent installment to Lessor, Lessee may be held liable for the entire rent installment up to the amount of the installment payable under this agreement. Notwithstanding the above option, Lessor may at any time after such breach by Xxxxxx, terminate the occurrence lease and after payment of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent costs and other amounts then due and to become due under any or all of the Leases; expenses described above Xxxxxx's liability hereunder shall terminate. (c) Lessor may Procure the appointment of a receiver to take possession and collect rents and profits of any or all items the business of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possessionLessee, and any such taking if necessary to collect the rents and profits. The receiver may carry on the business of Xxxxxx and possession of the personal property used in the business of Lessee, including inventory, trade fixtures, and furnishings and use them in the business without compensating Lessee. Proceedings for appointment of a receiver and the conduct of the business of Lessee by the receiver shall not constitute a terminate and forfeit this Lease unless Xxxxxx has given written notice of termination of any Lease; to Xxxxxx as provided herein. This provision (dc ) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and not apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a salepersonal service business such as a doctor, lawyer, accountant or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipmentsimilar operation.

Appears in 2 contracts

Samples: Lease Agreement (Xsinventory), Lease Agreement (Xsinventory)

REMEDIES OF LESSOR. At any Any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' attorney's fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by the Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment.

Appears in 2 contracts

Samples: Master Lease Agreement (Bluestar Communications Group Inc), Master Lease Agreement (Bluestar Communications Group Inc)

REMEDIES OF LESSOR. At any time after Upon the occurrence of any Event of DefaultDefault and any time thereafter, Lessor may may, without notice, exercise one or more of the following remedies, as Lessor, in its sole discretion shall elect: (a1) Lessor may declare all unpaid lease payments under the Lease to be immediately due and payable; (2) terminate any or all of the Leases with respect Lease as to any or all items of Equipment subject theretothe Equipment; (b3) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of the Equipment wherever found, and for this purpose enter upon any or all items premises of Lessee and remove the Equipment, wherever the same may be located, without demand or notice, without any court order liability for suit, action or other process of law and without liability to Lessee for any damages occasioned proceedings by such taking of possession, and any such taking of possession shall not constitute a termination of any LeaseLessee; (d4) Lessor may demand that direct Lessee return any or all items of at its expense to promptly prepare the Equipment to Lessor in accordance with Paragraph 16for pickup by Lessor; and (e5) Lessor may pursue any other remedy available at law or in equityuse, includinghold, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such the Equipment or any item thereof on the site specified on the applicable Agreement or any other location without affecting the obligations of Lessee as provided in a commercially reasonable mannerthe Lease; (6) proceed by appropriate action either in law or in equity to enforce performance by Lessee of the terms of the Lease or to recover damages for the breach hereof; (7) apply the Security Deposit to payment of Lessor’s costs, with or without notice expenses and on public or private bidattorney fees in enforcing the terms of the Lease and to indemnify Lessor against any damages sustained by Lessor (provided, however, nothing herein shall be construed to mean that the recovery of damages by Lessor shall be limited to the amount of the Security Deposit); (8) exercise any and all rights accruing to Lessor under any applicable law upon an Event of Default. In addition, Lessor shall be entitled to recover immediately as damages, and apply not as a penalty, a sum equal to the net proceeds aggregate of the following: (i) all unpaid payments as are due and payable for any items of Equipment up to the date of repossession by Lessor; (ii) any expenses paid or incurred by Lessor in connection with the repossession, holding, repair and subsequent sale, lease or other disposition of the Equipment, including attorney’s fees and other reasonable costs and expenses; (iii) an amount equal to the excess of (a) all unpaid payments for any item of Equipment repossessed by Lessor from the date thereof (after deducting to the estimated fair market value of such item at the expiration end of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment.over

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement

REMEDIES OF LESSOR. At any time after Upon the occurrence of any Event of DefaultDefault ------------------ and at any time thereafter while such Event of Default is continuing, Lessor may (i) shall have no further obligations under the Commitment, and (ii) may, without any further notice, exercise one or more of the following remedies: remedies as Lessor in its sole discretion shall elect: (a) Lessor may terminate any or Declare all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all unpaid Rent and other amounts then sums due and or to become due under any or this Lease to be immediately due and payable; (b) Terminate this Lease, whereupon all rights of Lessee to the use of the Leases; (c) Equipment shall absolutely cease and terminate but Lessee shall remain liable as herein provided, and thereupon Lessee will permit Lessor may take possession of any to store the Equipment on Lessee's premises or all items of Equipment, wherever the same Equipment may then be located, without demand charge, until sold or noticeotherwise disposed of and, without if so requested by Lessor, shall at the expense of Lessee, promptly deliver possession of the Equipment to Lessor at such place as Lessor shall designate in the manner provided in Section 18 hereof; (c) Take possession of the Equipment wherever found, and for this purpose enter upon any court order or other process premises of law Lessee and remove the Equipment all without liability to Lessee on the part of Lessor for any damages occasioned or by reason of such entry or taking of possession, and any whether for the restoration of damage to property caused by such taking or otherwise. Taking possession of the Equipment shall not be construed to be an election to terminate this Lease and this Lease shall remain in effect and Lessee shall remain liable for all payments to be made hereunder. Lessee consents to the granting of one or more applications for a writ of possession shall not constitute on an ex parte basis by a termination court of any Lease; competent jurisdiction upon posting of such undertaking or bond as may be required by law, and agrees that the amount of such undertaking may be limited to the depreciated value of the Equipment determined by Lessor as of the proposed date of repossession; (d) Sell the Equipment at public or private sale, in such commercially reasonable manner as Lessor may demand that deem appropriate (giving Lessee return any or all items at least ten (10) days' prior written notice of Equipment to Lessor in accordance with Paragraph 16; the time and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return place of any item of such public sale, or the time after which a private sale may be made, which notice Lessee hereby agrees is reasonable), or otherwise dispose of, hold, use, operate or keep idle the Equipment, all as Lessor, in its sole discretion, may determine and all free and clear of any rights of Lessee and without any duty to account to Lessee (except as hereinafter provided) for such action or inaction or for any proceeds resulting therefrom. Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value proceeds of any sale minus all costs and expenses incurred with the recovery, repair, storage, sale) of any such sale to the payment of Lessee's obligations hereunder, Lessee remaining liable for any deficiency (and any excess to be paid over to Lessee), which at Xxxxxx's option, shall be paid monthly, as suffered, or immediately in a lump sum, or at the end of the term, as damages for Xxxxxx's default; (e) By written notice to Lessee, cause Lessee to pay Lessor (as liquidated damages for loss of a bargain and not as a penalty) on the date specified in such notice, an amount equal to the sum of: (A) any unpaid Rent that accrued on or before the occurrence of the Event of Default, and (B) the Stipulated Loss Value of such item Equipment, as of the date of occurrence of the Event of Default, as set forth on any Schedule B attached ---------- to the Lease Schedule pertaining to such Equipment. Should Lessor, however, estimate its actual damages to exceed the foregoing, Lessor may, at its option, recover its actual damages in lieu of or in addition thereto. If Lessor proceeds pursuant to this subsection (e), Lessor hereby appoints Lessee its agent to dispose of the Equipment at the expiration best price obtainable on an "as-is", "where is" basis, without representation or warranty, express or implied. If Lessee has previously paid the amount of liquidated damages specified above to Lessor, Lessee shall be entitled to the proceeds of such sale of the term Equipment; or (f) Avail itself of the applicable Leaseany other remedy provided by any statute or otherwise available at law, in the case of a sale, equity or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred bankruptcy. No remedy referred to in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds this Section is intended to be retained by Lessor. Each of the remedies under this Lease exclusive, but each shall be cumulative, and not exclusive, cumulative and in addition to any other remedy referred to herein above or otherwise available to Lessor at law, in law equity or in equity. Any repossession bankruptcy, and the exercise or subsequent sale or lease beginning of exercise by Lessor of any item one or more of Equipment such remedies shall not bar an action for a deficiency as herein provided, and preclude the bringing simultaneous or later exercise by Lessor of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items such other remedies. No waiver by Lessor of Equipmentany Event of Default hereunder shall in any way be or be construed to be a waiver of any future or subsequent Event of Default. Lessee shall be liable for all costs and expenses (including reasonable attorneys' fees and disbursements and the costs of any retaking) incurred by reason of the occurrence of any Event of Default and the exercise of Xxxxxx's remedies with respect thereto.

Appears in 2 contracts

Samples: Master Equipment Lease Agreement (Neomagic Corp), Master Equipment Lease Agreement (Neomagic Corp)

REMEDIES OF LESSOR. At any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or all of the Leases with respect to any or all items of Equipment subject thereto; : (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other other-process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, including without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment judgement against Lessee shall not bar Lessor's right to repossess any or all items of Equipment.

Appears in 2 contracts

Samples: Master Lease Agreement (Psinet Inc), Master Lease Agreement (Psinet Inc)

REMEDIES OF LESSOR. At 19.01 If Lessee fails to perform any time after the occurrence duty or obligation of any Event of DefaultLessee under this Lease, Lessor may exercise one at its option, without waiver of Default nor any other right or more 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 following reimbursement amount required. 19.02 Upon a Default, with or without notice or demand, and without limiting any other of Lessor’s rights or remedies: , Lessor may: (a) Lessor may Terminate this Lease and/or terminate any or all Lessee’s right to possession of the Leases Premises. Upon any such termination, Lessee will immediately surrender possession of the Premises to Lessor. On termination of this Lease or Lessee’s right of possession, Lessor will be entitled to recover from Lessee: (i) the worth at the time of the award of the unpaid rent which had been earned at the time of the termination; (ii) the worth at the time of the award of the amount by which the unpaid rents which would have been earned after termination until the time of award exceeds the amount of such rental loss that Lessee proves could have been avoided; (iii) the worth at the time of the award of the amount by which the unpaid rents for the balance of the Lease Term after the time of award exceeds the amount of such rental loss for such period that Lessee proves could be reasonably avoided; and (iv) the worth at the time of the award of any other amount necessary to compensate Lessor for all the damage proximately caused by Lessee’s failure to perform its obligations under this Lease, including specifically the unamortized portion of all brokerage commissions paid in connection with respect this Lease and all costs of Lessor’s Work (amortized without interest on a straight line basis over the initial Lease Term), and reimbursement of any free rent, deferred rent or other Lease execution inducement. The expiration or termination of this Lease, and/or the termination of Lessee’s right to possession, will not release Lessee from any or all items of Equipment subject thereto; liability under this Lease. (b) Lessor may Continue the Lease and Lessee’s right to possession and recover from Lessee all Rent and other amounts then due and rent as it becomes due. Acts of maintenance or preservation, efforts to become due relet the Premises, removal or storage of Lessee’s personal property or the appointment of a receiver to protect Lessor’s interest under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipmentthis Lease, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall will not constitute a termination of Lessee’s right to possession. (c) Pursue any Lease; other remedy now or hereafter available to Lessor under the laws or judicial decisions of the state wherein the Premises are located. 19.03 The “worth at the time of award” referred to in Paragraph 19.02(a)(i), 19.02(a)(ii), and 19.02(a)(iv) will additionally include interest computed by allowing interest at the rate of 12% per annum (dor, if lower, at the maximum rate allowed by law). The “worth at the time of award” referred to in Paragraph 19.02(a)(iii) Lessor may demand that Lessee return any will be computed by discounting the amount at the discount rate of the Federal Reserve Bank of San Francisco in effect at the time of award, plus one percent (1%). 19.04 No right or all items of Equipment remedy conferred upon or reserved to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return this Lease is intended to be exclusive of any item of the Equipment, right or remedy granted to Lessor shall sell, lease by statute or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bidcommon law, and apply the net proceeds thereof (after deducting the estimated fair market value of each and every such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, right and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall remedy will be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment.

Appears in 2 contracts

Samples: Full Service Lease (Digimarc Corp), Full Service Lease (Digimarc CORP)

REMEDIES OF LESSOR. At If any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the EquipmentDefault occurs, Lessor shall sell, lease or otherwise dispose have the right after the expiration of such item in a commercially reasonable manner, with or without notice and on public or private bidthe applicable cure period, and apply at the net proceeds thereof sole discretion of Lessor, to terminate this Lease upon providing five (after deducting the estimated fair market value 5) days written notice. An Event of such item Default shall be deemed to have occurred at the expiration of such five (5) day period if the term of default has not been cured by the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in five (5) day period. Lessor may terminate the case Lease irrespective of any subsequent lease suit or action brought by Lessee and the time period required for termination of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall not be cumulativetolled by the filing of a suit or action. Additionally, if any Event of Default occurs, Lessor may, at its option, from time to time, without terminating this Lease, re-enter and re-let the Premises, or any part thereof, as the agent and for the account of Lessee upon such terms and conditions as Lessor may deem advisable or satisfactory, in which event the rents received on such re-letting shall be applied first to the expenses of such re-letting and collection including but not limited to, necessary renovation and alterations of the Premises, reasonable attorney’s fees, any real estate commissions paid, and thereafter toward payment of all sums due or to become due to Lessor hereunder, and if a sufficient sum shall not exclusivebe thus realized or secured to pay such sums and other charges, at Lessor’s option, Lessee shall pay Lessor any deficiency immediately upon demand therefore, notwithstanding that Lessor may have received periodic rental in excess of the periodic rental stipulated in this Lease in previous or subsequent rental periods, and Lessor may bring an action therefore as such deficiency shall arise. Nothing herein, however, shall be construed to require Lessor to re-enter and re-let the Premises in any event. Lessor shall not, in any event, be required to pay Lessee any surplus of any sums received by Lessor on a re-letting of said Premises in excess of the rent provided in this Lease. If any Event of Default occurs, Lessor shall have the right to obtain injunctive and declaratory relief, temporary and/or permanent, against Lessee for any acts, conduct or omissions of Lessee, and to further obtain specific performance of any term, covenant or condition of this Lease, including but not limited to the appointment of a receiver to operate Lessee’s business at the Premises. If any Event of Default occurs, Lessor shall have the right, at its option, to declare all Rent (or any portion thereof) for the entire remaining Lease Term, and other indebtedness owing by Lessee to Lessor, if any, immediately due and payable without regard to whether possession of the Premises shall have been surrendered to or taken by Lessor, and may commence action immediately thereupon and recover judgment therefore. If any Event of Default occurs, Lessor, in addition to other rights and remedies it may have, shall have the right to remove all or any part of Lessee’s personal property from the Premises and any personal property removed may be stored in any public warehouse or elsewhere at the cost of, and for the account of Lessee, and Lessor shall not be responsible for the care or safekeeping thereof whether in transport, storage or otherwise, and Lessee hereby waives any and all claim against Lessor for loss, destruction and/or damage or injury which may be occasioned by any of the aforesaid acts. No such re-entry or taking possession of the Premises by Lessor shall be construed as an election on Lessor’s part to terminate this Lease unless a written notice of such intention is given to Lessee. Notwithstanding any such re-letting without termination, Lessor may at all times thereafter elect to terminate this Lease for such previous default. Any such re-entry shall be allowed by Lessee without hindrance, and Lessor shall not be liable in damages for any such re- entry, or guilty of trespass or forcible entry. It is expressly agreed that the forbearance on the part of Lessor in the institution of any suit or entry of judgment for any part of the Rent herein reserved to Lessor, shall not serve as a defense against nor prejudice a subsequent action for such Rent. Lessee hereby expressly waives Lessee’s right to claim a merger or waiver of such subsequent action in any previous suit or in the judgment entered therein. Furthermore, it is expressly agreed that claims for liquidated Base Rent and/or Percentage Rent may be regarded by Lessor, if it so elects, as separate and independent claims capable of being separately assigned. Any and all rights, remedies and options given in this Lease to Lessor shall be cumulative and in addition to any other remedy referred to herein or otherwise available to Lessor in law and without waiver of, or in equity. Any repossession derogation of, any right or subsequent sale remedy given to it under any laws now or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipmenthereafter in effect.

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement

REMEDIES OF LESSOR. At any time after the occurrence Upon a breach of any Event of Default, Lessor may exercise one or more of the following remedies: this Lease by LESSEE as hereinbefore provided: (a) Lessor LESSOR may terminate any or all this Lease and the term created hereby, in which event LESSOR may forthwith repossess the Leased Premises and be entitled forthwith to recover as damages a sum of money equal to the value of the Leases with respect remaining rent under this Lease, to be determined on the basis of the rent theretofore paid or payable, less the fair rental value of the Leased Premises for said period, and any or all items other sum of Equipment subject theretomoney and damages owed by LESSEE to LESSOR; or (b) Lessor LESSOR may recover from Lessee all Rent terminate LESSEE'S right of possession and other amounts then due and to become due under any or all of may repossess the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be locatedLeased Premises, without demand or notice, without notice of any court order or other process of law kind to LESSEE and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable terminating this Lease, in which event LESSOR shall make reasonable efforts to re-let the case same for the account of a saleLESSEE for such rent and upon such terms as shall be reasonably satisfactory to LESSOR; and, if LESSOR shall fail to re-let the Leased Premises, or if the rents Leased Premises are re-let and a sufficient sum shall not be realized from such re-letting, after paying all of the costs and expenses of such re-letting and of the collection of the rent accruing therefrom to satisfy the rent above provided to be paid, then LESSEE shall pay to LESSOR as damages a sum equal to the amount of the rental reserved in this Lease for such period or periods, or, if the Leased Premises have been re-let, LESSEE shall satisfy and pay any such deficiency upon demand therefor, from time to time, and LESSEE agrees that LESSOR may file suit to recover any sums falling due under the terms of this paragraph from time to time and that no suit or recovery of any portion due LESSOR hereunder shall be in defense to any subsequent action brought for any period beyond the scheduled expiration amount not theretofore reduced to judgment in favor of such LeaseLESSOR. LESSEE will pay, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any the rent and other remedy referred charges to herein be paid by LESSEE, LESSOR'S reasonable attorney's fees in a suit or otherwise available action instituted by LESSOR to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor enforce the provisions of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action Lease or the entry collection of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipmentsums due LESSOR hereunder.

Appears in 2 contracts

Samples: Lease (Morgan Products LTD), Lease (Morgan Products LTD)

REMEDIES OF LESSOR. At 20.01 In the event Lessee breaches this Lease, Lessor shall have the following rights and remedies, each of which shall be cumulative and shall be in addition and without prejudice to every other right or remedy given hereunder or now or hereafter existing at law, in equity or by statute, and all of which may be exercised concurrently, alternatively or successively: A. The right to enforce specific performance; B. The right to receive and recover damages resulting from such breach or default; C. Without curing the breach or default, the right to make any time after payment in which Lessee is in default in which event all expenses, costs, losses, damages and fees (including without limitation attorneys' fees) suffered or incurred in so doing shall immediately constitute indebtedness due and owing from Lessee; D. The right to terminate this Lease by written notice to Lessee, such termination to be without prejudice to the occurrence right to collect damages for previously existing defaults, and any other loss, cost or expense incurred by Lessor. E. The right to immediately re-enter the Premises and the right, at the option of Lessor upon such re-entry, to remove all persons and property therefrom.; F. The right to relet the Premises or any part thereof for such term or terms (which may be for a term extending beyond the term of this Lease) and at such rental and upon such terms and conditions as Lessor, in its discretion, may deem advisable, with the right to make alterations or repairs. Upon such reletting, the rents received by Lessor from such reletting shall be applied first to the payment of any Event indebtedness other than rent due hereunder; second, to the payment of Defaultany costs and expenses of such reletting, Lessor may exercise one or more and of such alterations and repairs; third, to the following remedies: (a) Lessor may terminate any or all payment of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then rent due and to unpaid hereunder; and the residue if any, shall be held by Lessor and applied in payment of future rent as the same may become due under and payable hereunder. If the rents received from such reletting during any or all month are less than that to be paid during that month by Lessee hereunder, Lessee shall pay any such deficiency to Lessor. Such deficiency shall be calculated and paid monthly.; and G. The right to obtain the appointment of a receiver in any court of competent jurisdiction, and the Leases; (c) Lessor receiver may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, Premises and any such taking personal property belonging to the Lessee and used in the conduct of the business of the Lessee being carried on in the Premises. The entry or possession by said receiver of the Premises and said personal property shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item eviction of the Equipment, Lessor shall sell, lease Lessee from the Premises or otherwise dispose any portion thereof. Neither the application for the appointment of such item in a commercially reasonable mannerreceiver, with or without notice and on public or private bid, and apply nor the net proceeds thereof (after deducting the estimated fair market value appointment of such item at receiver, shall be construed as an election on Lessor's part to terminate this Lease unless a written notice of such intention is given to Lessee. 20.02 No act or conduct of the Lessor, whether consisting of the acceptance of the keys to the property or otherwise, shall be deemed to be or constitute an acceptance by Lessor of the surrender of the Premises by Lessee prior to the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such itemhereof, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease acceptance by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against surrender by Lessee shall not bar only result from and must be evidenced by written acknowledgment of acceptance of surrender signed by Lessor's right to repossess any or all items of Equipment.

Appears in 2 contracts

Samples: Lease Agreement (Nationwide Financial Solutions, Inc.), Lease Agreement (Nationwide Financial Solutions, Inc.)

REMEDIES OF LESSOR. At If a default occurs and is not cured within any applicable time after permitted under paragraph No. 17 above, the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or shall have all of the Leases with respect rights and remedies allowed by law, including the right, without notice, to terminate this lease, to enter the Lessee’s premises or other real property and dispossess Lessee and their legal representatives or other persons in possession of the leased property by summary proceedings or otherwise and remove their effects and possess the property as if this lease had not been made; the Lessee hereby waives the service of notice of intention to enter or repossess or to institute legal proceedings to that end. The Lessee further agrees that in case of any or termination, the Lessee will indemnify the Lessor against all items loss of Equipment subject thereto; (b) rents and other damage which the Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all incur by reason of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equitytermination, including, without limitationbut not limited to, seeking damagescost of restoring and repairing the property and putting same into rentable condition, specific performance cost of renting the property to another Lessee, loss or an injunction. Upon repossession or return diminution of rents and other damage which the Lessor may incur by reason of such termination, and, to the extent permitted under the then applicable law, all reasonable attorney’s fees and expenses incurred in enforcing any item of the Equipment, Lessor shall sell, terms of this lease or otherwise dispose any other rights or remedies of such item in a commercially reasonable mannerthe Lessor. Neither acceptance of rent by the Lessor, with or without notice and on public or private bidknowledge of breach, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration nor failure of the term Lessor to take action on account of any breach hereof or to enforce its rights hereunder shall be deemed a waiver of any breach. Absent written notice or consent, said breach shall be a continuing one. The words “re-enter” and “re-entry” as used in this lease is not restricted to their technical legal meaning. The Lessee hereby expressly waives any and all rights to recover or regain possession of the applicable Leasepremises or to reinstate or to redeem this lease as permitted or provided by or under any statute, in the case of a salelaw, or the rents due for any period beyond the scheduled expiration of such Lease, decision now or hereafter in the case of any subsequent lease of such item, force and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipmenteffect.

Appears in 2 contracts

Samples: Lease Purchase Agreement, Lease Purchase Agreement

REMEDIES OF LESSOR. At any time after In the occurrence event of any Event default hereunder (or threatened default in the case of Defaultparagraph b of this Section) by Lessee, the rights of Lessor shall be as follows: a. Lessor may elect, but shall not be obligated, to make any payment required of Lessee herein or comply with any agreement, term or condition required hereby to be performed by Lessee, and Lessor shall have the right if permitted to applicable law, to enter the premises for the purpose of correcting or remedying any such default and to remain until the default has been corrected or remedied. However, any expenditure hereunder by Lessor shall not be deemed to waive or release the default of Lessee or the right of Lessor to take any action as may be otherwise permissible hereunder in the case of any default. x. Xxxxxx shall have the right of injunction to restrain Lessee and the right to invoke any remedy allowed by law or in equity, as if the specific remedies of indemnity or reimbursement were not provided herein. x. Xxxxxx shall have the right to cancel and terminate this Lease, as well as all of the right, title and interest of Lessee hereunder, by giving to Lessee not less than ten (10) days' notice of the cancellation and termination. On expiration of the time fixed in the notice, this Lease and the right, title and interest of Lessee hereunder shall terminate in the same manner and with the same force and effect, except as to Lessee's liability for sums accrued prior to the date of termination, as if the date fixed in the notice of cancellation and termination were the end of the term herein originally determined. x. Xxxxxx may, if permitted by applicable law, re-enter the premises immediately without notice and take possession of Lessee's property and Lessee hereby grants to Lessor a security interest in Lessee's fixtures, equipment and inventory as now or hereafter on the premises and products, proceeds and replacements thereof. Lessor may store the Lessee's property on the premises, in a public warehouse or at a place selected by Lessor, at the expense of Lessee. After re-entry Lessor may terminate the Lease as provided above. Without the notice, re-entry will not terminate the Lease. x. Xxxxxx may, if permitted by applicable law, re-enter the premises immediately without notice and secure the same against access by Lessee or any third parties. After re-entry, Lessor may exercise one or more of terminate the following remedies: (a) Lessor may Lease as provided above. Without notice, re-entry will not terminate any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor Lease. x. Xxxxxx may recover from Lessee all Rent and other amounts then due and to become due under any damages proximately resulting from the default or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equitybreach, including, without limitationbut not limited to, seeking damagesthe cost of recovering the premises or altering or remodeling the same for re-letting, specific performance or an injunction. Upon repossession or return the cost of remedying any item violation of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, Section 15 or the rents due for cost of exercising any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies provided herein or by law, and may further recover the unpaid rent reserved under this Lease Lease, the total amount of which shall be cumulative, due and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipmentpayable.

Appears in 2 contracts

Samples: Lease Agreement (Genesisintermedia Com Inc), Lease Agreement (Genesisintermedia Com Inc)

REMEDIES OF LESSOR. At It shall be an event of default (“Event of Default”) if Lessee: a. Fails to maintain insurance as required (as to which there shall be no notice or grace period of any time after kind) or does not pay in full when due any and all installments of Rent and/or any other charge or payment herein reserved, included, or agreed to be treated or collected as Rent and/or any other charge, expense, or cost herein agreed to be paid by Lessee; provided, as to payment obligations, only, and subject as set forth below, Lessor shall not exercise its remedies for the occurrence of any an Event of DefaultDefault unless Lessor has first given Lessee at least ten (10) days notice, which Lessor may exercise one shall be required to give no more than once in any twelve month period during the Term; or b. Violates or fails to perform or otherwise breaks any covenant or agreement herein contained; and Lessee does not cure such failure within thirty (30) days after Lessee receives written notice of such failure from Lessor; provided, however, in the event that such failure cannot be cured within said thirty (30) days, Lessee shall not be deemed in default hereunder if Lessee commences curing such failure within said thirty (30) day period and thereafter diligently pursues such cure to completion within no more than a total of sixty (60) days, or c. Vacates the following remedies: (a) Demised Premises or removes or attempts to remove or manifests an intention to remove any goods or property therefrom otherwise than in the ordinary and usual course of business without having first paid and satisfied Lessor may terminate any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee in full for all Rent and other amounts charges then due and to or that may thereafter become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at until the expiration of the term Term; or d. Makes an assignment for the benefit of creditors, or if a petition in bankruptcy is filed by or against Lessee (and not dismissed within 60 days) or a complaint in equity or other proceedings for the appointment of a receiver for Lessee is filed, or if proceedings for reorganization or for composition with creditors under any State or Federal law be instituted by or against Lessee, or if the real or personal property of Lessee shall be levied upon (and not dismissed within 30 days) or be sold, or if for any other reason Lessor shall, in good faith, believe that Lessee’s ability to comply with the covenants of this Lease, including the prompt payment of rent hereunder, is or may become impaired, thereupon: 1. The whole balance of Rent and other charges, payments, costs and expenses herein agreed to be paid by Lessee, together with all costs and officers’ commissions, including watchman’s wages, shall be taken to be accelerated, due and payable and in arrears as if the terms and provisions of this Lease said balance of Rent and other charges, payments, taxes, costs and expenses were on that due, payable in advance. Lessor shall further be entitled, but not required, to retake possession of the applicable LeaseDemised Premises and lease the Demised Premises for the account of Lessee. In such latter circumstance, in if the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards sums received by Lessor are insufficient to pay the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each obligations of the remedies Lessee under this Lease as they become due after the application of the Security Deposit, Lessee shall pay Lessor the difference between the amounts collected by Lessor and the amounts due and owing Lessor under the terms of this Lease. Further, if this Lease or any part thereof is assigned, or if the Demised Premises, or any part thereof is sub-let, Lessee hereby irrevocably constitutes and appoints Lessor as Lessee’s agent to collect the Rent due from such assignee or sub-lessee and apply the same to the Rent due hereunder without in any way affecting Lessee’s obligation to any unpaid balance of Rent due hereunder; or 2. At the option of Lessor, this Lease shall terminate without any right on the part of Lessee to reinstate this Lease by payment of any sum due or by other performance of any condition, term, or covenant broken; whereupon, Lessor shall be cumulativeentitled to recover damages for such breach in an amount equal to the amount of Rent scheduled to be paid during the balance of the Term, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor less the fair rental value of any item the said Demised Premises for the remainder of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of EquipmentTerm.

Appears in 2 contracts

Samples: Lease Agreement (Tengion Inc), Lease Agreement (Tengion Inc)

REMEDIES OF LESSOR. At any time after In the occurrence event of any Event breach of Defaultthis Lease by Lessee, and failure to cure during the subject notice and cure periods as provided herein, then Lessor, in addition to such other rights or remedies provided to Lessor herein, shall have the immediate right of re-entry and may remove all persons and property from the demised premises. Such property may be removed and stored in a public warehouse or elsewhere at the cost of, and for the account of Lessee. Should Lessor elect to re-enter, as herein provided, or should he take possession pursuant to legal proceedings or pursuant to any notice provided for by law, they may EITHER TERMINATE this Lease, or may from time to time, without terminating this Lease, re-let said premises, or any part thereof, for such term or terms (which may be for a term extending beyond the term of this Lease) and at such fair market rental or rentals and upon such other reasonable terms and conditions as Lessor may deem advisable with the right to make alterations and repairs to said demised premises. Upon each such re-letting (a) Lessee shall be immediately liable to pay to Lessor, in addition to any indebtedness other than rent due hereunder, the cost and expenses of such re-letting and of such alterations and repairs incurred by Lessor, and the amount, if any, by which the rent reserved in this Lease for the period of such re-letting (up to but not beyond the remaining term of any then current Renewal Term of this Lease) exceeds the amount agreed to be paid as rent for the demised premises for such period on such re-letting, as such becomes due; or (b) at the option of Lessor, rents received by Lessor from such re-letting shall be applied as follows; first, to the payment of any indebtedness other than rent due hereunder from Lessee to Lessor; second, to the payment of any costs and expenses of such re-letting and of such alterations and repairs; third, to the payment of rent due and unpaid hereunder; and the residue, if any, shall be held by Lessor and applied in payment of future rent as the same may become due and payable hereunder. If Lessee has been credited with any rent to be received by such re-letting under option (a) and such rent shall not be promptly paid to Lessor by the new tenant, or if such rentals received from such re-letting under option (b) during any month be less than that to be paid during that month by Lessee hereunder, Lessee shall pay any such deficiency to Lessor. Such deficiency shall be calculated and paid monthly. No such re-entry or taking possession of said premises by Lessor shall be construed as an election on Lessor's part to terminate this Lease unless a written notice of such intention be given to Lessee or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding any such re-letting without termination, Lessor may exercise one or more of the following remedies: (a) at any time thereafter elect to terminate this Lease for such uncured previous breach. Should Lessor may at any time terminate any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee this Lease for any damages occasioned by such taking of possessionuncured breach, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred they may have, they may recover from Lessee all damages they may incur by reason of such breach, including the cost of recovering the demised premises, and including the excess, if any, of the amount of rent and charges equivalent to herein or otherwise available rent reserved in this Lease for the remainder of the then current term, over the then reasonable rental value of the demised premises for the remainder of such term, all of which amounts shall be due and payable from Lessee to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipmentthey accrue.

Appears in 1 contract

Samples: Lease Agreement (R B Rubber Products Inc)

REMEDIES OF LESSOR. At 19.01 If Lessee fails to perform any time after the occurrence duty or obligation of any Event of DefaultLessee under this Lease and such failure constitutes a Default under Paragraph 18 above, Lessor may exercise one at its option, without waiver of Default nor any other right or more 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 following reimbursement amount required. 19.02 Upon a Default, with or without notice or demand, and without limiting any other of Lessor’s rights or remedies: , Lessor may: (a) Lessor may Terminate this Lease and/or terminate any or all Lessee’s right to possession of the Leases Premises. Upon any such termination, Lessee will immediately surrender possession of the Premises to Lessor. On termination of this Lease or Lessee’s right of possession, Lessor will be entitled to recover from Lessee: (i) the worth at the time of the award of the unpaid rent which had been earned at the time of the termination; (ii) the worth at the time of the award of the amount by which the unpaid rents which would have been earned after termination until the time of award exceeds the amount of such rental loss that Lessee proves could have been avoided; (iii) the worth at the time of the award of the amount by which the unpaid rents for the balance of the Lease Term after the time of award exceeds the amount of such rental loss for such period that Lessee proves could be reasonably avoided; and (iv) the worth at the time of the award of any other amount necessary to compensate Lessor for all the damage proximately caused by Lessee’s failure to perform its obligations under this Lease, including specifically the unamortized portion of all brokerage commissions paid in connection with respect this Lease and all costs of Lessor’s Work (amortized without interest on a straight line basis over the initial Lease Term), and reimbursement of any free rent, deferred rent or other Lease execution inducement. The expiration or termination of this Lease, and/or the termination of Lessee’s right to possession, will not release Lessee from any or all items of Equipment subject thereto; liability under this Lease. (b) Lessor may Continue the Lease and Lessee’s right to possession and recover from Lessee all Rent and other amounts then due and rent as it becomes due. Acts of maintenance or preservation, efforts to become due relet the Premises, removal or storage of Lessee’s personal property or the appointment of a receiver to protect Lessor’s interest under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipmentthis Lease, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall will not constitute a termination of Lessee’s right to possession. (c) Pursue any Lease; other remedy now or hereafter available to Lessor under the laws or judicial decisions of the state wherein the Premises is located. 19.03 The “worth at the time of award” referred to in Paragraph 19.02(a)(i), 19.02(a)(ii), and 19.02(a)(iv) will additionally include interest computed by allowing interest at the rate of nine percent (d9%) Lessor may demand that Lessee return any per annum (or, if lower, at the maximum rate allowed by law). The “worth at the time of award” referred to in Paragraph 19.02(a)(iii) will be computed by discounting the amount at the discount rate of the Federal Reserve Bank of San Francisco in effect at the time of award, plus one percent (1%). 19.04 No right or all items of Equipment remedy conferred upon or reserved to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return this Lease is intended to be exclusive of any item of the Equipment, right or remedy granted to Lessor shall sell, lease by statute or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bidcommon law, and apply the net proceeds thereof (after deducting the estimated fair market value of each and every such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, right and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall remedy will be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment.

Appears in 1 contract

Samples: Lease (Merix Corp)

REMEDIES OF LESSOR. At any time after Upon the occurrence of any Event of DefaultDefault and at any time thereafter, Lessor may may, without any further notice, exercise one or more of the following remediesremedies as Lessor in its sole discretion shall elect: (a) Lessor may terminate any or the Agreement and all of the Leases with respect Lessee's rights hereunder as to any or all items of Equipment subject theretoProperty; (b) Lessor may recover proceed by appropriate court action to personally, or by its agents, take possession from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of EquipmentProperty wherever found and for this purpose enter upon Lessee's premises where any item of Property is located and remove such item of Property free from all claims of any nature whatsoever by Lessee and Lessor may thereafter dispose of the Property; provided, wherever however, that any proceeds from the same 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 under the Property Schedule, including principal component not otherwise due until future fiscal years, (ii) pay any other amounts then due under the Property Schedule and this Agreement, and (iii) pay Lessor's costs and expenses associated with the disposition of the Property and the Event of Default (including attorneys fees), shall be paid to Lessee or such other creditor of Lessee as may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possessionentitled thereto, and any such taking of possession further provided that no deficiency shall not constitute a termination of any Leasebe allowed against Lessee; (dc) Lessor may demand that proceed by appropriate court action or actions to enforce performance by Lessee return any of its obligations hereunder or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may recover damages for the breach hereof or pursue any other remedy available to Lessor at law or in equityequity or otherwise; (d) declare all unpaid Lease Payments and other sums payable hereunder during the current fiscal year of the Lease Term to be immediately due and payable without any presentment, including, without limitation, seeking damages, specific performance demand or an injunctionprotest and / or take any and all actions to which Lessor shall be entitled under applicable law. Upon repossession No right or return remedy herein conferred upon or reserved to Lessor is exclusive of any item of the Equipment, Lessor shall sell, lease right or remedy herein or at law or in equity or otherwise dispose provided or permitted, but each shall be cumulative of such item every other right or remedy given hereunder or now or hereafter existing at law or in a commercially reasonable manner, with equity or without notice and on public by statute or private bidotherwise, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Leasemay be enforced concurrently therewith or from time to time. Lessee agrees to pay to Lessor or reimburse Lessor for, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and addition to all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Leasehereunder, with any excess net proceeds to be retained by Lessor. Each all of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's costs of collection, including reasonable attorney fees, whether or not suit or action is filed thereon. Lessee and Lessor hereby irrevocably waive all right to repossess trial by jury in any action, proceeding or all items counterclaim (whether based on contract, tort or otherwise) arising out of Equipmentor relating to this Agreement.

Appears in 1 contract

Samples: Participating Addendum

REMEDIES OF LESSOR. At any time after 22.01 If Lessee breaches this Lease before the occurrence of any Event of Default, Lessor may exercise one or more end of the following remedies: (a) Lease Term, or if its right to possession is terminated by Lessor may terminate any or all because of the Leases with respect to any or all items Lessee's breach of Equipment subject thereto; (b) this Lease, then this Lease shall automatically terminate. On such termination, Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all each of the Leases; following: (a) The amount at the time of judicial (or arbitrator) determination of damages of the unpaid rents accrued through the time of termination; (b) The amount at the time of judicial (or arbitrator) determination of damages of the unpaid rents accrued after termination; (c) The amount at the time of judicial (or arbitrator) determination of unpaid rents that will accrue during the balance of the Lease Term less a ten percent (10%) time value discount; and (d) Any other amount necessary to compensate Lessor for the damage proximately caused by Lessee's breach of its obligations under this Lease. 22.02 Notwithstanding the foregoing, in the event Lessee has breached this Lease, at Lessor's option, this Lease shall continue in full force and effect so long as Lessor does not terminate Lessee's right to possession of the Premises, and in such event Lessor may take possession enforce all of any or all items its rights and remedies under this Lease, including the right to recover rent as it becomes due. For purposes of Equipmentthis subparagraph, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned following acts by such taking of possession, and any such taking of possession Lessor shall not constitute a the termination of any Lease; Lessee's right to possession of the premises: (da) Lessor may demand that Lessee return any Acts of maintenance, preservation or all items of Equipment efforts to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equityrelet the Premises, including, without limitationbut not limited to, seeking damagesalterations, specific performance or an injunction. Upon repossession or return of any item of the Equipmentremodeling, redecorating, repairs, replacement and/or painting as Lessor shall sell, lease consider advisable for the purpose of reletting the Premises or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof any part thereof; or (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case b) The appointment of a sale, or receiver upon the rents due for any period beyond the scheduled expiration initiative of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds Lessor to be retained by protect Lessor. Each of the remedies 's interest under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by the Premises. 22.03 Lessor of any item of Equipment hereunder shall not bar an action for a deficiency as herein providedhave the benefit of, and the bringing right to, any and all Landlord's liens provided under the law of an action or the entry State of judgment against Lessee Colorado. 22.04 Any efforts by Lessor to mitigate the damages caused by Lessee's breach of this Lease shall not bar waive Lessor's right to repossess any or all items of Equipmentrecover the damages set forth above.

Appears in 1 contract

Samples: Commercial Lease (Viasource Communications Inc)

REMEDIES OF LESSOR. 1. The occurrence of any of the following shall constitute an event of default: (a) Lessee shall fail to pay any monies which are required to be paid by Lessee under this Lease and such failure shall continue for three (3) business days after Lessee's receipt of written notice thereof; or (b) Lessee shall default in the performance or compliance with any of the other terms or provisions of this Lease or the Ground Lease, and such default shall continue for a period of fifteen (15) days after Lessee's receipt of written notice thereof from Lessor or, in the case of any such default which cannot with due diligence be cured within fifteen (15) days, Lessee shall fail to proceed promptly after Lessee's receipt of such notice and with due diligence to cure such default and thereafter to prosecute the curing thereof with due diligence (it being intended that as to a default not susceptible of being cured with due diligence within fifteen (15) days, the time within which such default may be cured shall be extended for such period as may be necessary to permit the same to be cured with due diligence). Provided, however, no period herein granted to cure a default shall extend beyond a date five (5) days prior to the date that the Lessor under the Ground Lease or the holder of any mortgage or mortgages secured by the Demised Premises declares the default hereunder a default under such Ground Lease or mortgage and Lessor shall separately notify Lessee in writing of such five (5) day deadline at least five (5) days, and not more than thirty (30) days in advance of such five (5) day deadline; or (c) Lessee shall file a voluntary petition in bankruptcy or shall be adjudicated a bankrupt or insolvent, or shall file any petition or answer seeking any reorganization, composition, readjustment or similar relief under any present or future bankruptcy or other applicable law, or shall seek or consent to or acquiesce in the appointment of any trustee, receiver or liquidator of Lessee, or of all or any substantial part of its properties; or If, within thirty (30) days after the filing of an involuntary petition in bankruptcy against Lessee or the commencement of any proceeding against Lessee seeking any reorganization, composition, readjustment or similar relief under any law, such proceeding shall not have been dismissed, or if within thirty (30) days after the appointment without the consent or acquiescence of Lessee or any trustee, receiver or liquidator of Lessee, or of all or any substantial part of its properties, such appointment shall not have been vacated or stayed on appeal or otherwise, or if within thirty (30) days after the expiration of any such stay, such appointment shall not have been vacated. For the purposes of this paragraph, in lieu of obtaining the dismissal, vacation or stay of any of the foregoing, Lessee may provide a reasonable bond or other securitization in favor of Lessor. 2. Upon the occurrence of an event of default, the Lessor at any time thereafter may give written notice to the Lessee specifying such event of default and stating that this Lease shall expire on the date specified in such notice, which shall be at least thirty (30) days after Lessee's receipt of such notice, and upon the date specified in such notice, this Lease and all rights of the Lessee hereunder shall terminate. 3. Upon the expiration of this Lease pursuant to paragraph 2 of this Article XVIII, the Lessee shall peacefully surrender the Demised Premises to Lessor, and the Lessor, upon or at any time after any such expiration, may, without further notice, re-enter the Demised Premises and repossess it by force, summary proceedings, ejectment, or otherwise, and may dispossess the Lessee and remove the Lessee and all other persons and property from the Demised Premises and may have, hold, and enjoy the Demised Premises and the right to receive all rental income therefrom. 4. At any time after any such expiration, the occurrence Lessor may relet the Demised Premises or any part thereof, in the name of Lessor or otherwise, for such term (which may be greater or less than the period which would otherwise have constituted the balance of the term of this Lease) and on such conditions (which may include concessions or free rent) as the Lessor, in its reasonable discretion, may determine and may collect and receive the rents therefor. Lessor shall in no way be responsible or liable for any failure to relet the Demised Premises or any part thereof or for any failure despite its reasonable efforts to collect any rent due upon any such reletting. 5. No such expiration of this Lease shall relieve the Lessee of its liabilities and obligations under this Lease, and such liability and obligations shall survive any such expiration. In the event of any Event such expiration, whether or not the Demised Premises or any part thereof shall have been relet, the Lessee shall pay to the Lessor the Base Rent and the additional rent, charges and expenses required to be paid by the Lessee up to the time of Defaultsuch expiration, and thereafter the Lessee, until the end of what would have been the term of this Lease in the absence of such expiration, shall be liable to the Lessor may exercise one or more of for, and shall pay to Lessor, as and for liquidated and agreed current damages for the following remedies: Lessee's default: (a) Lessor may terminate any or all the equivalent of the Leases with respect to any or all items amount of Equipment subject thereto; the Base Rent, charges, expenses and additional rent which would be payable under this Lease by the Lessee if this Lease were still in effect, less (b) the net proceeds of any reletting effected pursuant to the provisions of Paragraph 4 of this Article XVIII, after deducting all the Lessor's expenses in connection with such reletting, including, without limitation, all reasonable repossession costs, advertising costs, brokerage commissions, legal expenses, attorney's fees, alteration costs, and expenses of preparation for such reletting. The Lessee shall pay such current damages, herein called deficiency, to the Lessor may monthly on the days on which the Base Rent, charges, expenses and additional rent would have been payable under this Lease if this Lease were still in effect, and the Lessor shall be entitled to recover from the Lessee all Rent each monthly deficiency as such deficiency shall arise. 6. At any time after any such expiration, whether or not the Lessor shall have collected any monthly deficiency, the Lessor shall be entitled to recover from the Lessee and other amounts the Lessee shall pay to the Lessor, on demand, as and for liquidated and agreed final damages for the Lessee's default, an amount equal to the difference between the Base Rent, charges, expenses and additional rent reserved hereunder from the date of expiration for the unexpired portion of the Lease term and the then fair and reasonable rental value of the Demised Premises for the same period. In the computation of such damages, the difference between any Base Rent, charges, and expenses becoming due hereunder after the date of expiration and the fair and reasonable rental value of the Demised Premises for the period for which such Base Rent, charges and expenses were payable shall be discounted to the date of expiration at the rate of six percent (6%) per annum and to become due under such sum shall be added all costs of Lessor in recovery thereof including, but not limited to, a reasonable attorney fee. If the Demised Premises or any part thereof is relet by the Lessor for the unexpired term of this Lease or all any part thereof, before presentation of proof of such liquidated and agreed damages to any court or tribunal, the amount of rent reserved upon such reletting shall, at the option of the Leases; (c) Lessor, be deemed prima facie to be the fair and reasonable rental value for the part or the whole of the Demised Premises so relet during the term of the reletting. 7. In addition to any of the foregoing remedies available to the Lessor may take possession of any or all items of Equipmentunder this Article XVIII, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy or remedies available to Lessor at law or in equity, including, without limitationbut not limited to, seeking damages, specific performance or an injunction. Upon repossession or return recovery of reasonable attorney's fees incurred by Lessor due to Lessee's breach hereof and its costs of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds actions undertaken to be retained by enforce Lessor's rights hereunder. Each of the All remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to the Lessor hereunder may be pursued by the Lessor in law one or in equity. Any repossession or subsequent sale or lease by Lessor more causes of any item of Equipment shall not bar an action for a deficiency as herein providedaction, and the bringing Lessor shall not be required to elect the remedy or remedies it desires to pursue but may submit all remedies to the trier of an action fact for purposes of determining damage and recovery. 8. The Lessee hereby expressly waives, so far as permitted by law, the service of any notice of intention to re-enter provided for in any statute or of the institution of legal proceedings to that end. The Lessee, for and on behalf of itself and all persons claiming through or under the Lease, also waives any right of redemption or re-entry or repossession or to restore the operation of judgment against this Lease in case the Lessee shall be dispossessed by a judgment or by order of any court or judge, or in case of re-entry or repossession by the Lessor, unless the Demised Premises has not bar Lessor's right to repossess any or all items of Equipmentbeen re-let at such time.

Appears in 1 contract

Samples: Lease Agreement (Lmi Aerospace Inc)

REMEDIES OF LESSOR. At any time after Upon the occurrence of any Event of DefaultDefault and any time thereafter, Lessor may may, without notice, exercise one or more of the following remedies, as Lessor, in its sole discretion shall elect: (a1) Lessor may declare all unpaid lease payments under the Lease to be immediately due and payable; (1) terminate any or all of the Leases with respect Lease as to any or all items of Equipment subject theretothe Equipment; (b2) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of the Equipment wherever found, and for this purpose enter upon any or all items premises of Lessee and remove the Equipment, wherever the same may be located, without demand or notice, without any court order liability for suit, action or other process of law and without liability to Lessee for any damages occasioned proceedings by such taking of possession, and any such taking of possession shall not constitute a termination of any LeaseLessee; (d3) Lessor may demand that direct Lessee return any or all items of at its expense to promptly prepare the Equipment to Lessor in accordance with Paragraph 16for pickup by Lessor; and (e4) Lessor may pursue any other remedy available at law or in equityuse, includinghold, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such the Equipment or any item thereof on the site specified on the applicable Agreement or any other location without affecting the obligations of Lessee as provided in a commercially reasonable mannerthe Lease; (5) proceed by appropriate action either in law or in equity to enforce performance by Lessee of the terms of the Lease or to recover damages for the breach hereof; (6) apply the Security Deposit to payment of Lessor’s costs, with or without notice expenses and on public or private bidattorney fees in enforcing the terms of the Lease and to indemnify Lessor against any damages sustained by Lessor (provided, however, nothing herein shall be construed to mean that the recovery of damages by Lessor shall be limited to the amount of the Security Deposit); (7) exercise any and all rights accruing to Lessor under any applicable law upon an Event of Default. In addition, Lessor shall be entitled to recover immediately as damages, and apply not as a penalty, a sum equal to the net proceeds aggregate of the following: (i) all unpaid payments as are due and payable for any items of Equipment up to the date of repossession by Lessor; (ii) any expenses paid or incurred by Lessor in connection with the repossession, holding, repair and subsequent sale, lease or other disposition of the Equipment, including attorney’s fees and other reasonable costs and expenses; (iii) an amount equal to the excess of (a) all unpaid payments for any item of Equipment repossessed by Lessor from the date thereof (after deducting to the estimated fair market value of such item at the expiration end of the term of the applicable Lease, in Lease over (b) the case of a sale, or the rents due for any period beyond the scheduled expiration fair market lease value of such Leaseitem or items of Equipment for such unexpired lease period (provided however, in that the case fair market lease value shall be deemed to not exceed the proceeds of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each sale of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale Equipment or lease thereof by Lessor for a period substantially similar to the unexpired lease period); and (iv) the replacement cost of any item of Equipment shall not bar an action which Lessee fails to prepare for a deficiency return to Lessor as herein providedprovided above or converts or is destroyed, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right which Lessor is unable to repossess any or all items of Equipmentrepossess.

Appears in 1 contract

Samples: Lease Agreement

REMEDIES OF LESSOR. At any time after If Lessee shall default in the occurrence payment of the rent reserved herein, or in the payment of any Event item of Defaultadditional rent or other monies, Lessor may exercise one due hereunder, or any part of same, or Lessee shall default in the observance of any of the other terms, covenants and conditions of this lease; or If the demised premises must be abandoned, deserted or vacated, or if Less shall sublet the demised premises or assign this lease except as herein provided; or If Lessee shall make an assignment for the benefit of creditors, or file a voluntary petition in bankruptcy or be adjudicated a bankrupt by any court and such adjudication shall not be vacated thirty (30) days or Lessee takes the benefit of any insolvency act, or Lessee be dissolved voluntarily or involuntarily or have a receiver of Lessee's property appointed in any proceedings other than bankruptcy proceedings, and such appointment shall not be vacated within thirty (30) days after if has been made; then, upon the happening of anyone or more of the following remedies: (a) defaults or events specified above, this lease and the term hereof shall at the option and election of the Lessor wholly cease and terminate, and there upon or at any time thereafter, Lessor may terminate any re- enter said premises either by force or all otherwise and have possession of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor same and/or may recover from possession thereof by summary proceedings otherwise but Lessee all Rent and other amounts then due and shall remain liable to become due under any Lessor. If Lessee shall default in the performance or all of the Leases; (c) Lessor may take possession observance of any term or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law condition in this lease and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) cure such default within such 15 day period and thereafter proceed with diligence to complete such cure Lessor may demand that may, but shall not be obligated to, cure such default by Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16under this lease; and (e) whenever Lessor may pursue any other remedy available at law or in equityso elects all costs and expenses incurred by Lessor, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, including reasonable attorneys' fees, incurred in connection therewith) towards curing a default shall be paid by Lessee to Lessor on demand, together with interest thereon from the Rent and other amounts due under such Lease, with any excess net proceeds date of payment by Lessor to be retained date of payment by LessorLessee. Each In the event of anyone or more of the remedies under this Lease shall defaults set out above, all payments of rent, additional rent or of lease or any extension thereof, shall, at the option of Lessor, become immediately due and payable in full. Lessor may re-enter the demised premises using such force for that purpose as may be cumulativenecessary without being liable to any prosecution therefore, and not exclusive, Lessor may repair or alter the demised premises in such manner as to Lessor may seem necessary or advisable to re-let the demised premises. The Lessor has the right to relet said premises and to collect any deficiency in reletting in addition to any other remedy referred reasonable expenses incurred, however, the Lessee's obligation to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or pay damages must survive the termination of the lease and the election by Lessor of any item single remedy does not preclude the use of Equipment shall any other remedy whether or not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment.mentioned in this lease,

Appears in 1 contract

Samples: Office Lease (Columbialum Staffing Inc)

REMEDIES OF LESSOR. At any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, expenses including, without limitation, reasonable attorneys' fees, incurred in connection therewith) therewith towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessorlessor's right to repossess any or all items of Equipment.

Appears in 1 contract

Samples: Purchase and License Agreement (Startec Global Communications Corp)

REMEDIES OF LESSOR. At any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate If any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the EquipmentDefault occurs, Lessor shall sellhave the right after the expiration of the applicable Cure Period, lease or otherwise dispose at the option of Lessor, to terminate this Lease upon providing fifteen (15) days written notice if the default has not been cured by the expiration of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof fifteen (after deducting the estimated fair market value 15) day period. An Event of such item Default shall be deemed to have occurred at the expiration of the term of Cure Period if the applicable Lease, in default has not been cured by the case of a sale, or the rents due for any period beyond the scheduled expiration of such fifteen (15) day period. Additionally, if any Event of Default occurs, Lessor may, at its option, from time to time, without terminating this Lease, re-enter and re-let the Property, or any part thereof, as the agent and for the account of Lessee upon such terms and conditions as Lessor may deem advisable or satisfactory, in which event the rents received on such re-letting shall be applied first to the expenses of such re-letting and collection including but not limited to, necessary renovation and alterations of the Property, reasonable attorneys fees, any real estate commissions paid, and thereafter toward payment of all sums due or to become due to Lessor hereunder, and if a sufficient sum shall not be thus realized or secured to pay such sums and other charges, at Lessor's option, Lessee shall pay Lessor any deficiency immediately upon demand therefore, notwithstanding that Lessor may have received periodic rental in excess of the periodic rental stipulated in this Lease in previous or subsequent rental periods, and Lessor may bring an action therefore as such deficiency shall arise. Nothing herein, however, shall be construed to require Lessor to re-enter and re-let the Property in any event. Lessor shall not, in any event, be required to pay Lessee any surplus of any sums received by Xxxxxx on a re-letting of said Property in excess of the Rent provided in this Lease. (b) If any Event of Default occurs, Lessor shall have the right to obtain injunctive and declaratory relief, temporary and/or permanent, against Lessee or any acts, conduct or omissions of Lessee, and to further obtain specific performance of any term, covenant or condition of this Lease. (c) If any Event of Default occurs, Lessor shall have the right, at its option, to declare all Rent (or any portion thereof) for the entire remaining Lease Term, and other indebtedness owing by Lessee to Lessor, if any, immediately due and payable without regard to whether possession of the Property shall have been surrendered to or taken by Xxxxxx, and may commence action immediately thereupon and recover judgment therefore. (d) If any Event of Default occurs, Lessor, in addition to other rights and remedies it may have, shall have the right to remove all or any part of Lessee's personal property from the Property and any personal property removed may be stored in any public warehouse or elsewhere at the cost of, and for the account of Lessee, and Lessor shall not be responsible for the care or safekeeping thereof whether in transport, storage or otherwise, and Lessee hereby waives any and all claim against Lessor for loss, destruction and/or damage or injury which may be occasioned by any of the aforesaid acts. (e) No such re-entry or taking possession of the Property by Lessor shall be construed as an election on Xxxxxx's part to terminate this Lease unless a written notice of such intention is given to Xxxxxx. Notwithstanding any such re-letting without termination, Lessor may at all times thereafter elect to terminate this Lease for such previous default. Any such re-entry shall be allowed by Lessee without hindrance, and Lessor shall not be liable in damages for any such re-entry, or guilty of trespass or forcible entry. (f) Any Rent which may be due Lessor, whether by acceleration or otherwise as herein provided in this Article, shall include Minimum Base Rent, Percentage Rent and any other rents, costs and expenses denominated as Additional Rent in this Lease. (g) It is expressly agreed that the forbearance on the part of Lessor in the case institution of any suit or entry of judgment for any part of the Rent herein reserved to Lessor, shall not serve as a defense against nor prejudice a subsequent lease action for such Rent. Lessee hereby expressly waives Xxxxxx's right to claim a merger or waiver of such itemsubsequent action in any previous suit or in the judgment entered therein. Furthermore, it is expressly agreed that claims for liquidated Minimum Base Rent and/or Percentage Rent may be regarded by Lessor, if it so elects, as separate and independent claims capable of being separately assigned. (h) Any and all expensesrights, including, without limitation, reasonable attorneys' fees, incurred remedies and options given in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease to Lessor shall be cumulative, and not exclusive, cumulative and in addition to any other remedy referred to herein or otherwise available to Lessor in law and without waiver of, or in equity. Any repossession derogation of, any right or subsequent sale remedy given to it under any laws now or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipmenthereafter in effect.

Appears in 1 contract

Samples: Lease Agreement

REMEDIES OF LESSOR. At any time after 17.2.1 In the occurrence event of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned default by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the EquipmentLessee, Lessor shall sell, lease or otherwise dispose have the right to terminate this Lease upon notice in writing to Lessee who hereby agrees in advance that the Lease be so terminated and/or cancelled. In the event of such item notice, this Lease shall terminate at noon on the third tenth (10th) business day following the date such notice is given, without the necessity of any other “mise en demeure” or legal process whatsoever unless Lessee contests said cancellation by formal proceedings filed in good faith before a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value court of such item at competent jurisdiction prior to the expiration of the term said 10-day delay. If no such proceedings are filed, Lessee shall thereupon quit and surrender the Premises to Lessor, or if not yet in possession, Lessee shall no longer have any right to possession of the applicable Premises. Lessor, its agents and servants shall have the right to enter the Premises and dispossess Lessee and remove any persons or property therefrom and/or may bolt the Premises or change the locks thereon, any legislation to the contrary notwithstanding, without the qty of any legal proceeding whatsoever and without being liable to Lessee therefor in damages, or otherwise. As of the date the Lessor notifies Lessee that it has terminated this Lease, Lessor shall ipso facto and automatically become the absolute owner of all moveables then situated within the Premises, including all stock in trade, furniture, and any other effects of any nature whatsoever. 17.2.2 Where the Lease is terminated under this article, Minimum Rent, Additional Rent and all other charges, for the then current month and each subsequent month to the original expiry date of the Lease, shall immediately become due and payable, the whole without prejudice to Lessor’s right to claim from Lessee all costs, expenses and damages incurred by Lessor as result of the early termination of this Lease. 17.2.3 In the case of a saletermination resulting from bankruptcy or insolvency, or the rents due for any period beyond the scheduled expiration of such LeaseLessor will, in addition to all its other rights, remedies, and. recourses, be entitled to the case equivalent of any subsequent lease of such itemthree (3) months Minimum Rent, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Additional Rent and other amounts due under such Leasecharges then payable on a monthly basis, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipmentaccelerated rent.

Appears in 1 contract

Samples: Lease Agreement (Dynasty Gaming Inc)

REMEDIES OF LESSOR. At any time after If the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: Lessee (a) Lessor may terminate Does not pay in full when due any and all installments of rent and/or any other charge or all of payment herein reserved, included, or agreed to be treated or collected as rent and/or any other charge, expense, or cost herein agreed to be paid by the Leases with respect to any Lessee, or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and Violates or fails to become due under perform or otherwise breaks any covenant or all of the Leasesagreement herein contained; or (c) Lessor may take possession Vacates the demised premises or removes or attempts to remove or manifests an intention to remove any goods or property therefrom otherwise than in the ordinary and usual course of any or all items of Equipment, wherever business without having first paid and satisfied the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; full for all rent and (e) Lessor other charges then due or that may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at thereafter become due until the expiration of the then current term, above mentioned; or (d) Becomes embarrassed or insolvent, or makes an assignment for the benefit of creditors, or if a petition in bankruptcy is filed by or against the Lessee, or a bill xx equity or other proceeding for the appointment of a receiver for the Lessee is filed, or if proceedings for reorganization or for composition with creditors under any State or Federal law be instituted by or against Lessee, or if the real or personal property of the Lessee shall be sold or levied upon by any Sheriff, Marsxxxx xx Constable; _________________ then and in any or either of said events, there shall be deemed to be a breach of this lease, and thereupon ipso facto and without entry or other action by Lessor; (1) The rent for the entire unexpired balance of the term of this lease, as well as all other charges, payments, costs and expenses herein agreed to be paid by the applicable Lease, in the case of a saleLessee, or at the rents due for option of Lessor any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such itempart thereof, and also all expensescosts and officers' commissions including watchmen's wages and further in- cluding the five percent chargeable by Act of Assembly to the Lessor, includingshall, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any and all installments of rent already due and payable and in arrears and/or any other remedy referred charge or payment herein reserved, included or agreed to be treated or collected as rent, and/or any other charge, expense or cost herein agreed no be paid by the Lessee which may be due and payable and in arrears, be taken to be due and payable and in arrears as if by the terms and provisions of this lease, the whole balance of unpaid rent and other charges, payments, taxes, costs and expenses were on that date payable in advance; and if this lease or otherwise available any part thereof is assigned, or if the premises or any part thereof is sub-let, Lessee hereby irrevocably constitutes and appoints Lessor Lessee's agent to Lessor collect the rents due by such assignee or sub-lessee and apply the same to the rent due hereunder without in law or in equity. Any repossession or subsequent sale or any way affecting Lessee's obligation to pay any unpaid balance of rent due hereunder; (2) This lease and the term hereby created shall determine and become absolutely void without any right on the part of the Lessee to save the forfeiture by Lessor payment of any item sum due or by other performance of Equipment any condition, term or covenant broken; whereupon, Lessor shall not bar be entitled to recover damages for such breach in an action amount equal to the amount of rent reserved for a deficiency as herein providedthe balance of the term of this lease, and less the bringing fair rental value of an action or the entry said demised premises, for the residue of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipmentsaid term.

Appears in 1 contract

Samples: Lease Agreement (Patient Infosystems Inc)

REMEDIES OF LESSOR. At any time after Upon the occurrence of a default by Lessee hereunder and at any Event of Defaulttime 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 elect: (a) Lessor may terminate any or declare all of unpaid rentals under this Lease to be immediately due and payable; the Leases with respect amount to any or all items of Equipment subject theretobe due to be computed as hereinafter set forth; (b) Lessor may recover from Lessee all Rent and other amounts then due and terminate this Lease as to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever 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 same may be locatedEquipment, without notice or demand or notice, and without any court order or other process of law process, and for such purpose, enter upon any premises without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Leaseso doing; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such the Equipment, or any item in thereof, at a commercially reasonable manner, with or without notice and on public or private bidsale or lease at such time or times and upon such terms as Lessor may determine, free and apply clear of any rights of Lessee; (e) proceed by appropriate action either at law or in equity to enforce performance by Lessee of the net proceeds thereof applicable covenants of this Lease or recover damages for the breach thereof; and (after deducting f) exercise any and all rights accruing to a Lessor or personal property under any applicable law upon a default by Lessee. In furtherance of the estimated foregoing, Lessor shall be entitled to recover immediately as liquidated damages and not as a penalty, a sum equal to the aggregate of the following: (i) all unpaid rentals and other amounts or other sums which are due and payable for any item of Equipment up to the date delivered to or repossessed by Lessor; (ii) any expenses paid or incurred by Lessor in connection with the repossession, holding, repair, appraisal, transportation and subsequent sale, lease or other disposition of the Equipment, including attorneys' fees and court costs; and (iii) an amount equal to the difference between (aa) all unpaid rentals and other amounts, due and to become due under this Lease, each of which unpaid rentals and other amounts shall be discounted to present value at an annual rate of 7% (collectively, "Unpaid Rentals"), together with the amount or percentage of original cost for which Lessee would have been permitted or required to purchase the Equipment at the end of the Lease term hereof, which amount shall be discounted to present value at an annual rate of 7% ("Purchase Amount") and (bb) the then fair market value of any Equipment returned to or repossessed by Lessor ("Return Value"); provided, however, that the Return Value of each such item at of Equipment shall be deemed to be an amount equal to the expiration proceeds, if any, of any sale or lease thereof by Lessor, less any costs or expenses incurred by Lessor from such sale or lease. If Lessor is unable, after the exercise of reasonable efforts to sell or lease any such item of equipment, the Return Value of such item of equipment shall be deemed to be zero. If the Return Value of the term Equipment exceeds the sum of the applicable LeaseUnpaid Rentals plus the Purchase Amount, in Lessor shall be entitled to the case of a sale, excess. No right or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds remedy conferred upon or reserved to be retained Lessor by Lessor. Each of the remedies under this Lease shall be cumulative, exclusive of any other right or remedy herein or by law provided; all rights and not exclusive, remedies of Lessor conferred on Lessor by this Lease or by law shall be cumulative and in addition to any every other right and remedy referred to herein or otherwise available to Lessor. Lessee shall pay all costs and reasonable attorney's fees incurred by Lessor in law collecting any sums owed under this Lease or in equity. Any repossession or subsequent sale or lease by Lessor obtaining possession of any item leased Equipment, including attorney's fees incurred in seeking relief from stay in bankruptcy court together with interest at the rate of Equipment shall not bar an action for a deficiency as herein providedthe lesser of 18% compounded annually, and the bringing of an action or the entry maximum amount permitted by law on each of judgment against Lessee shall the foregoing and on all sums not bar Lessor's right to repossess paid when due under any or all items provision of Equipmentthis Lease.

Appears in 1 contract

Samples: Lease Agreement (Interactive Telesis Inc)

REMEDIES OF LESSOR. At any time after Upon the occurrence of a default by Lessee hereunder and at any Event of Defaulttime 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) Lessor may 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 any or all of the Leases with respect this Lease as to any or all items of Equipment subject theretobut no such termination shall be deemed to occur unless written notice to that express effect is given by Lessor to Lessee; (bc) Lessor may recover from Lessee all Rent and other amounts then due and to become due under whether or not this Lease is terminated, take immediate possession of any or all of the Leases; (c) Lessor may take possession of any Equipment without notice or all items of Equipment, wherever the same may be located, demand and without demand or notice, without any court order or other process of law process, and for such purpose, enter upon any premises without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Leaseso doing; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such the Equipment or any item in thereof, at a commercially reasonable manner, with or without notice and on public or private bidsale or lease at such time or times and upon such terms as Lessor may determine, free and apply the net proceeds thereof clear of any rights of Lessee; (after deducting the estimated fair market value of such item e) proceed by appropriate action either at the expiration of the term 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, in including late charges and interest, (b) property taxes accrued or to be accrued during the case of a salelease term for the Equipment, or which may be estimated by the rents Lessor, (c) all future payments yet to become due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such itemdiscounted to present value at 5% per annum, and (d) interest on all expensesamounts 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, without limitationbut not limited to, reasonable attorneys' feesfees 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, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to liquidated damages for which Lessee is responsible will be retained by Lessor. Each credited for the present value of the remedies under sale or release proceeds. No right or remedy conferred upon or reserved to Lessor by this Lease shall be cumulative, exclusive of an other right or remedy herein or by law provided; all rights and not exclusive, remedies of Lessor conferred on Lessor by this Lease or by law shall be cumulative and in addition to any every other right and remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment.

Appears in 1 contract

Samples: Equipment Lease (Centennial Sepcialty Foods Corp)

REMEDIES OF LESSOR. At (A) Does not pay in full when due any time after and all installments of rent and/or any other charge or payment herein reserved, included, or agreed to be treated or collected as rent and/or any other charge, expense, or cost herein agreed to be paid by the occurrence Lessee, or (B) Violates or fails to perform or otherwise breaks any covenant or agreement herein contained; or (C) Vacates the demised premises or removes or attempts to remove or manifests an intention to remove any good or property therefrom otherwise than in the ordinary and usual course of any Event of Default, business without having first paid and satisfied the Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or in full for all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent rent and other amounts charges then due and to or that may thereafter become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at until the expiration of the then current term, above mentioned; or (D) Becomes embarrassed or insolvent, or makes an assignment for the benefit of creditors, or if a petition in bankruptcy is filed by or against the Lessee, or a xxxx equity or other proceeding for the appointment of a receiver for the Lessee is filed, or if proceedings for reorganization or for composition with creditors under any State or Federal law be instituted by or against Lessee, or if the real or personal property of the Lessee shall be sold or levied upon by an Sheriff, Xxxxxxxx or Constable; then and in any or either of said event, there shall be deemed to be a breach of this lease, and thereupon ipso facto and without entry or other action by Lessor; (1) The rent for the entire unexpired balance of the term of this lease, as well as all other charges, payments, costs and expenses herein agreed to be paid by the applicable Lease, in the case of a saleLessee, or at the rents due for option of Lessor any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such itempart thereof, and also all expensescosts and officers' commissions including watchmen's wages and further including the five (5%) percent chargeable by Act of Assembly to the Lessor, includingshall, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any and all installments of rent already due and payable and in arrears and/or any other remedy referred charge or payment herein reserved, included or agreed to be treated or collected as rent, and/or any other charge, expense or cost herein agreed to be paid by the Lessee which may be due and payable and in arrears, be taken to be due and payable and arrears as if by the terms and provisions of this lease, the who balance of unpaid rent and other charges, payments, taxes, costs and expenses were to that date payable in advance; and if this lease or otherwise available any part thereof is assigned, or if the premise or any part hereof is sub-let, Lessee hereby irrevocably constitutes and appoints Lessor /Lessee's agent to Lessor collect the rents due by such assignee or sub-lessee and apply the same to the rent due hereunder without in law or in equity. Any repossession or subsequent sale or any way affecting Lessee's obligation to pay any unpaid balance of rent due hereunder; (2) This lease and the term hereby created shall determine and become absolutely void without any right on the part of the Lessee to save the forfeiture by Lessor payment of any item sum due or by other performance of Equipment any condition, term or covenant broker; whereupon, Lessor shall not bar be entitled to recover damages for such breach in an action amount equal to the amount of rent reserved for a deficiency as herein providedthe balance of the term of this lease, and less the bringing fair rental value of an action or the entry said demised premises, for the residue of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipmentsaid term.

Appears in 1 contract

Samples: Lease Agreement (Trimedia Entertainment Group Inc)

REMEDIES OF LESSOR. At any time after If the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: Lessee (a) Lessor may terminate Does not pay in full when due any and all installments of rent and/or any other charge or all of payment herein reserved, included, or agreed to be treated or collected as rent and/or any other charge, expense, or cost herein agreed to be paid by the Leases with respect to any or all items of Equipment subject thereto; Lessee, or (b) Lessor may recover from Lessee all Rent and other amounts then due and Violates or fails to become due under perform or otherwise breaks any covenant or all of the Leases; agreement herein contained or: (c) Lessor may take possession Vacates the Demised Premises or removes or attempts to remove or manifests an intention to remove any goods or property therefrom otherwise than in the ordinary and usual course of any or all items of Equipment, wherever business without having first paid and satisfied the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; full for all rent and (e) Lessor other charges then due or that may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at thereafter become due until the expiration of the term then current term, above mentioned; or (d) Becomes insolvent, or makes an assignment for the benefit of creditors, or if a petition in bankruptcy is filed by or against Lessee or a complaint in equity or other proceedings for the applicable Leaseappointment of a receiver for Lessee is filed, or if proceedings for reorganization or for composition with creditors under any State or Federal law be instituted by or against Lessee, or if the real or personal property of Lessee shall be levied upon or be sold, or if for any other reason Lessor shall, in good faith, believe that Lessee’s ability to comply with the case covenants of this lease, including the prompt payment of rent hereunder, is or may become impaired, Lessor agrees to provide Lessee with notice of such default, as described in (a) - (d) above, and provide Lessee with 14 days to cure such default. With respect to a salenon-monetary default, if Lessee, proceeding diligently and expeditiously, can not cure the default within such 14 day period, Lessee agrees to extend the cure period for so long as it shall require Lessee in the exercise of due diligence to cure such default, it being agreed that no such extension shall be for a period in excess of 60 days. Thereafter: (1) The whole balance of rent and other charges, payments, costs, and expenses herein agreed to be paid by Lessee, or any part thereof, and also all costs and officer’s commissions including watchmen’s wages shall be taken to be due and payable and in arrears as if by the terms and provisions of this Lease said balance of rent and other charges, payment, taxes, costs and expenses were on that date, payable in advance. Further, if this Lease or any part thereof is assigned, or if the Demised Premises, or any part thereof is sub-let, Lessee hereby irrevocably constitutes and appoints Lessor as Lessee’s agent to collect the rents due for from such assignee or sub-lessee and apply the same to the rent due hereunder without in any period beyond way affecting Lessee’s obligation to pay any unpaid balance of rent due hereunder; or (2) At the scheduled expiration option of such LeaseLessor, in this Lease and the case terms hereby created shall determine and become absolutely void without any right on the part of Lessee to reinstate this Lease by payment of any subsequent lease sum due or by other performance of any condition, term, or covenant broken; whereupon, Lessor shall be entitled to recover damages for such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred breach in connection therewith) towards an amount equal to the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each amount of rent reserved for the balance of the remedies under term of this Lease shall be cumulativelease, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or less the fair rental value of the said Demised Premises for the remainder of the lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipmentterm.

Appears in 1 contract

Samples: Sublease Agreement (Acrodyne Communications Inc)

REMEDIES OF LESSOR. At If any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the EquipmentDefault occurs, Lessor shall sell, lease or otherwise dispose have the right after the expiration of such item in a commercially reasonable manner, with or without notice and on public or private bidthe applicable cure period, and apply at the net proceeds thereof sole discretion of Lessor, to terminate this Lease upon providing five (after deducting the estimated fair market value 5) days written notice. An Event of such item Default shall be deemed to have occurred at the expiration of such five (5) day period if the term of default has not been cured by the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in five (5) day period. Lessor may terminate the case Lease irrespective of any subsequent lease suit or action brought by Lessee and the time period required for termination of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall not be cumulativetolled by the filing of a suit or action. Additionally, if any Event of Default occurs, Lessor may, at its option, from time to time, without terminating this Lease, re-enter and re-let the Premises, or any part thereof, as the agent and for the account of Lessee upon such terms and conditions as Lessor may deem advisable or satisfactory, in which event the rents received on such re-letting shall be applied first to the expenses of such re-letting and collection including but not limited to, necessary renovation and alterations of the Premises, reasonable attorney’s fees, any real estate commissions paid, and thereafter toward payment of all sums due or to become due to Lessor hereunder, and if a sufficient sum shall not exclusivebe thus realized or secured to pay such sums and other charges, at Lessor’s option, Lessee shall pay Lessor any deficiency immediately upon demand therefore, notwithstanding that Lessor may have received periodic rental in excess of the periodic rental stipulated in this Lease in previous or subsequent rental periods, and Lessor may bring an action therefore as such deficiency shall arise. Nothing herein, however, shall be construed to require Lessor to re-enter and re-let the Premises in any event. Lessor shall not, in any event, be required to pay Lessee any surplus of any sums received by Lessor on a re-letting of said Premises in excess of the rent provided in this Lease. If any Event of Default occurs, Lessor shall have the right to obtain injunctive and declaratory relief, temporary and/or permanent, against Lessee for any acts, conduct or omissions of Lessee, and to further obtain specific performance of any term, covenant or condition of this Lease, including but not limited to the appointment of a receiver to operate Lessee’s business at the Premises. If any Event of Default occurs, Lessor shall have the right, at its option, to declare all Rent (or any portion thereof) for the entire remaining Lease Term, and other indebtedness owing by Lessee to Lessor, if any, immediately due and payable without regard to whether possession of the Premises shall have been surrendered to or taken by Lessor, and may commence action immediately thereupon and recover judgment therefore. If any Event of Default occurs, Lessor, in addition to other rights and remedies it may have, shall have the right to remove all or any part of Lessee’s personal property from the Premises and any personal property removed may be stored in any public warehouse or elsewhere at the cost of, and for the account of Lessee, and Lessor shall not be responsible for the care or safekeeping thereof whether in transport, storage or otherwise, and Lessee hereby waives any and all claim against Lessor for loss, destruction and/or damage or injury which may be occasioned by any of the aforesaid acts. No such re-entry or taking possession of the Premises by Lessor shall be construed as an election on Lessor’s part to terminate this Lease unless a written notice of such intention is given to Lessee. Notwithstanding any such re-letting without termination, Lessor may at all times thereafter elect to terminate this Lease for such previous default. Any such re-entry shall be allowed by Lessee without hindrance, and Lessor shall not be liable in damages for any such re- entry, or guilty of trespass or forcible entry. It is expressly agreed that the forbearance on the part of Lessor in the institution of any suit or entry of judgment for any part of the Rent herein reserved to Lessor, shall not serve as a defense against nor prejudice a subsequent action for such Rent. Lessee hereby expressly waives Lessee’s right to claim a merger or waiver of such subsequent action in any previous suit or in the judgment entered therein. Furthermore, it is expressly agreed that claims for liquidated Base Rent and/or Ticket Surcharge may be regarded by Lessor, if it so elects, as separate and independent claims capable of being separately assigned. Any and all rights, remedies and options given in this Lease to Lessor shall be cumulative and in addition to any other remedy referred to herein or otherwise available to Lessor in law and without waiver of, or in equity. Any repossession derogation of, any right or subsequent sale remedy given to it under any laws now or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipmenthereafter in effect.

Appears in 1 contract

Samples: Lease Agreement

REMEDIES OF LESSOR. At any time after A. Upon termination of Xxxxxx's right of possession hereunder, whether this Lease be terminated or not, Xxxxxx agrees to surrender possession of the occurrence Demised Premises immediately without the receipt of any Event demand for rent, notice to quit or demand for possession of Defaultthe Demised Premises whatsoever, and hereby grants to Lessor full, free and complete license to enter into and upon the Demised Premises, or any part thereof, to take possession thereof, with or without process of law, and to expel and remove Lessee or any other person who may be occupying the Demised Premises, or any part thereof, and Lessor may exercise one or more use such force in and about expelling and removing Xxxxxx and said other persons as may reasonably be necessary, and Lessor may further repossess itself of the following remedies: (a) Lessor may terminate any or all Demised Premises as of its former estate, but said entry and repossession of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession Demised Premises shall not constitute a trespass or forcible entry or detainer, nor shall it cause a forfeiture or cancellation of rents or other sum or sums due or to become due during the full stated term of this Lease irrespective of earlier termination, nor a waiver of any covenant, agreement or promise herein contained to be performed by Xxxxxx; and Xxxxxx agrees to pay to Lessor, as liquidated damages, double rent for all the time that Lessee shall retain possession of the Demised Premises, or any part thereof, after termination of any Lease; (d) Lessor may demand that Lessee return any Xxxxxx's right of possession. B. Acceptance of rent or all items of Equipment to Lessor other sum or sums due hereunder, whether in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law a single instance or in equityrepeatedly after the same fall due, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return after knowledge of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a salebreach hereof by Xxxxxx, or the rents due for any period beyond the scheduled expiration of such Lease, in the case giving or making of any subsequent lease of such itemnotice or demand, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition whether according to any other remedy referred to herein statutory provision or otherwise available to Lessor in law not, or in equity. Any repossession any act or subsequent sale or lease by Lessor series of any item of Equipment acts, except an express written waiver, shall not bar an action for be construed as a deficiency as herein provided, and the bringing waiver of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess act without notice or demand, or of any other right hereby given Lessor, nor as an election not to proceed under the provisions of this Lease. The obligation of Lessee to pay the rent (or other sums) reserved hereby during the balance of the stated term of this Lease irrespective of earlier termination, or during any extension hereof, shall not be deemed to be waived, released or terminated by the service of any notice to collect, demand for possession or notice that the tenancy hereby created will be terminated on a date therein named, or the institution of any action of forcible detainer or ejectment, or similar action, or any judgment for possession which may be rendered in such action. Lessor may collect and receive any rent or other sum or sums due from Lessee, and payment or receipt thereof shall not waive or affect any such notice, demand, suit or judgment, or in any manner waive, affect, change, modify or alter any rights or remedies which Lessor may have by virtue hereof. C. If Lessee's right to possession of the Demised Premises shall be terminated in any way on account of default of Lessee, the Demised Premises, or any part or parts thereof, may, but need not be, relet by Lessor for the account and benefit of Lessee, for such rent and upon such terms and to such person, including a corporation or corporations controlled by Lessor, and for such period or periods as may seem fit to the Lessor, and if a sufficient sum shall not be received from such reletting to satisfy the rent hereby reserved, after paying the expenses of reletting and collection, and all items expenses of Equipmentplacing the Demised Premises in condition for such reletting, Xxxxxx agrees to pay and satisfy all deficiency; but the acceptance of a tenant or tenants by Lessor in place of Lessee shall not operate as a cancellation hereof nor release Lessee from the performance of any covenant, promise or agreement herein contained, and performance by any substituted tenant by the payment of rent or otherwise, shall constitute only satisfaction pro tanto of the obligation of Lessee arising hereunder. D. It is further covenanted and agreed that Xxxxxx may pursue any of the remedies in this Lease provided, or any which may be allowed at law, in equity or by statute, either separately or concurrently, and that any and all of Lessor's rights and remedies are cumulative and not alternative, and shall not be exhausted by the exercise thereof on one or more occasions. No delay or omission to exercise any remedy or right accruing on any default shall impair any such remedy or right, or be construed as a waiver of any such default, or acquiescence therein, nor shall it affect any subsequent default of the same or a different nature, but every such remedy or right may be exercised from time to time, and as often as may be deemed expedient by Lessor. In case Lessor shall have proceeded to enforce any right under this Lease by entry, suit or otherwise, and such proceeding shall have been discontinued or abandoned because of a waiver, settlement or for any other reason, or shall have been determined adversely to Lessor, then and every such case, Lessor shall be restored to its former position and rights hereunder in respect to the Demised Premises, and all rights, remedies and powers of Lessor shall continue as though no such proceeding had been taken. Neither the rights herein nor by law given to receive, collect, sue for or distrain for any rent or rents, moneys or payments or to enforce any of the terms, provisions or conditions of this Lease, nor to prevent the breach or nonobservance thereof, nor the exercise of any such right or remedy hereunder or otherwise granted or arising, shall in any way affect or impair or limit the right or power of Lessor to declare the term hereby granted ended, or to terminate this Lease because of any default or breach, as herein provided.

Appears in 1 contract

Samples: Facility Lease (Del Global Technologies Corp)

REMEDIES OF LESSOR. At any time after the Upon each occurrence of any an Event of DefaultDefault and so long as such Event of Default shall be continuing, Lessor may exercise one at any time thereafter at its election terminate this Lease or more Lessee's right of possession (but Lessee shall remain liable as hereinafter provided), and/or pursue any other remedies at law or in equity. Upon the following remedies: (a) termination of this Lease or termination of Lessee's right of possession, it shall be lawful for Lessor, to re-enter the Space by summary dispossession proceedings or any other action or proceeding authorized by law and to remove Lessee and all persons and property therefrom. If Lessor may terminate any re-enters the Space, Lessor shall have the right to keep in place and use, or remove and store, all of the Leases with respect to any or all items of Equipment subject thereto; (b) furniture, fixtures and equipment at the Space. If Lessor terminates this Lease, Lessor may recover from Lessee the sum of: all Rent, Additional Rent and all other amounts accrued hereunder to the date of such termination; the cost of reletting the whole or any part of the Space, including without limitation brokerage fees and/or leasing commissions incurred by Lessor, and costs of removing and storing Lessee's or any other occupant's property, repairing, altering, re- modeling, or otherwise putting the Space into condition acceptable to a new tenant or tenants, and all reasonable expenses incurred by Lessor in pursuing its remedies, including reasonable attorneys' fees and court costs. If Lessor terminates Lessor's right of possession (but not this Lease), Lessor shall relet the Space for rent and upon such terms as shall be satisfactory to Lessor without thereby releasing Lessee from any liability hereunder and without demand or notice of any kind to Lessee. For the purpose of such reletting Lessor is authorized to make any repairs, changes, alterations, or additions in or to the Space as Lessor deems reasonably necessary or desirable. If the Space is not relet, then Lessee shall pay to Lessor as damages a sum equal to the amount of rental reserved in this Lease for such period or periods, plus the cost of recovering possession of the Space (including reasonable attorney's fees and costs of suit), the unpaid Rent, Additional Rent and other amounts then due accrued hereunder at the time of repossession, and the costs incurred in any attempt by Lessor to become due under any or relet the Space. If the Space is relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, for retention by Lessor, the unpaid Rent, Additional Rent and other amounts accrued hereunder at the time of reletting, the cost of recovering possession (including reasonable attorneys' fees and costs of suit), all of the Leases; costs and expenses of repairs, changes, alterations, and additions, the expense of such reletting (cincluding without limitation brokerage fees and leasing commissions) and the cost of collection of the Rent and Addi- tional Rent accruing therefrom] to satisfy the Rent provided for in this Lease to be paid, then Lessee shall immediately satisfy and pay any such deficiency. Any such payments due Lessor shall be made upon demand therefor from time to time and Lessee agrees that Lessor may take possession file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, Lessor may at any time thereafter elect in writing to terminate this Lease for such previous breach. Exercise by Lessor of any one or all items of Equipment, wherever the same may be located, without demand more remedies hereunder granted or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession otherwise available shall not constitute be deemed to be an acceptance of surrender of the Space and/or a termination of this Lease by Lessor, whether by agreement or by operation of law, it being understood that such surrender and/or termination can be effected only by the written agreement of Lessor and Lessee. The failure of Lessor at any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment time to Lessor enforce its rights under this Lease strictly in accordance with Paragraph 16; same shall not be construed as having created a custom in any way or manner contrary to the specific terms, provisions, and (e) covenants of this Lease or as having modified the same. Lessee and Lessor may pursue any other remedy available further agree that forbearance or waiver by Lessor to enforce its rights pursuant to this Lease or at law or in equity, including, without limitation, seeking damages, specific performance shall not be a waiver of Lessor's right to enforce one or an injunctionmore of its rights in connection with any subsequent Event of Default. Upon repossession or return No waiver by Lessor of any item provision of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulativedeemed to have been made unless expressed in writing and signed by Lessor. To the greatest extent permitted by law, and not exclusive, and Lessee waives all right of redemption in addition to any other remedy referred to herein case Lessee shall be dispossessed by a judgment or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor warrant of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action court or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipmentjudge.

Appears in 1 contract

Samples: Lease Agreement (Dialysis Corp of America)

REMEDIES OF LESSOR. At any time after the occurrence All rights and remedies of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or all of the Leases with respect herein set forth are in addition to any and all rights and remedies which are or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment available to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity. (a) If Lessee shall fail to pay any rent reserved herein when due, or defaults in the prompt and full performance of any of Lessee's covenants and agreements hereunder, or if the leasehold interest of Lessee be levied upon, under execution or be attached, or if Lessee makes an assignment for the benefit of creditors, or if a receiver be appointed for any property of Lessee, or if Lessee abandons the premises, then, and in any such event, Lessor may, if Lessor so elects, and with or without notice of such election and with or without demand whatsoever, forthwith terminates this Lease and the Lessee's right to possession of the premises, or Lessor may, without terminating this Lease, terminate Lessee's right to possession of the premises. Lessee hereby waives Lessee's right to trial by jury in connection with any proceedings by Lessor to enforce any of its rights against Lessee under this Lease, including, without limitation, seeking damagesany proceedings to remove Lessee from the premises. (b) Upon the filing of a petition by or against Lessee under the United States Bankruptcy Code, specific (the "Code"), Lessee, as debtor and as debtor in possession, and any trustee who may be appointed shall (i) timely perform each and every obligation of Lessee under this Lease until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; (ii) pay monthly in advance on the first day of each month as reasonable compensation for use and occupancy of the premises an amount equal to the Rent and other charges otherwise due pursuant to this Lease; (iii) provide adequate assurance of future performance under the Lease; (iv) reject or an injunctionassume this Lease within sixty (60) days of the filing of such petition under the Code, and (v) do all other things of benefit to Lessor otherwise required or permitted under the Code. Upon repossession Lessee, as debtor and as debtor in possession, and any trustee, shall be deemed to have rejected this Lease in the event of the failure to comply with any of the above. Included within and in addition to any other conditions or return obligations imposed upon Lessee or its successor in the event of assumption and/or assignment is the prior written consent of any item mortgagee to which this Lease has been assigned as collateral security. (c) Upon termination of this Lease, or upon the termination of Lessee's right to possession without termination of the EquipmentLease, Lessee shall surrender possession and vacate the premises immediately. (d) If Lessee abandons the premises, or if Lessor elects to terminate Lessee's right to possession only, without terminating the Lease as above provided, Lessor may remove from the premises any and all property found therein and such repossession shall not release Lessee from Lessee's obligation to pay the rent reserved herein. After any such repossession by Lessor without termination of the Lease, Lessor shall sellmake reasonable efforts to relet the premises, lease or any part thereof, as agent of Lessee to any person, firm, or corporation and for such time and upon such terms as Lessor, in Lessor's sole discretion, may determine. Lessor may make repairs, alterations, and additions in and to the premises and redecorate the same to the extent deemed by Lessor necessary or desirable, and Lessee shall, upon demand, pay the cost thereof, together with Lessor's expense (including any broker's commission) of reletting. If the rents collected by Lessor upon any such reletting are not sufficient to pay monthly the full amount of all rent reserved herein, together with the costs of such repairs, alterations, additions, redecorating, and expenses, Lessee shall pay to Lessor the amount of each monthly deficiency upon demand. (e) Any and all property which may be removed from the premises by Lessor may be handled, removed, stored, or otherwise dispose disposed of by Lessor at the risk and expense of Lessee, and Lessor shall, in no event, be responsible for the preservation or safekeeping thereof. Lessee shall pay to Lessor, upon demand, any and all expenses incurred in such item removal and all storage charges against such property so long as the same shall be in Lessor's possession or under Lessor's control. If any property shall remain in the premises or in the possession of Lessor and shall not be removed by Lessee within a commercially reasonable mannerperiod often (10) days from and after the time when the premises are either abandoned by Lessee or repossessed by Lessor under the terms of this Lease, the property shall conclusively be deemed to have been forever abandoned by Lessee. (f) Lessor and Lessee agree that all of the goods, chattels, trade fixtures, and other personal property belonging to Lessee which are or may be put into the premises during the term, whether exempt or not from sale under execution or attachment, shall, at all times, be bound with a lien in favor of Lessor, and shall be chargeable for all rents hereunder and for the fulfillment of the other covenants and agreements of Lessee herein contained. In the event that Lessee shall have abandoned the premises, or without notice and on in the event of any default of Lessee hereunder, Lessor shall have the right to sell all or any part of said property at public or private bidsale, without giving notice to Lessee or any notice of sale, all notices required by statute or otherwise being hereby expressly waived, and to apply the net proceeds thereof (after deducting the estimated fair market value of such item at sale, first to the expiration payment of all costs and expenses of conducting the term same, or caring for or storing said property; second, toward the payment of the applicable Leaseany indebtedness which may be or may become due from Lessee to Lessor; and, third, to pay to Lessee, on demand, in the case writing, any surplus remaining after all indebtedness of a saleLessee to Lessor has been fully paid. (g) In addition to all other rights and remedies of Lessor hereunder, or the rents due for if Lessee fails to timely perform any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expensesits obligations hereunder, including, without limitation, reasonable attorneys' feesmonetary obligations, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds whether or not Lessor has terminated this Lease or Lessee's right to be retained by Lessor. Each possession of the remedies premises, or either, Lessor may, subject to Section 17(d), elect to accelerate and make immediately due and payable all of the rent, additional rent, adjusted rent and any other charges or fees which are due or may become due hereunder for the remainder of the term of this Lease. Lessee agrees that Lessor may file suit to recover any sums due under this Lease from time to time and that no suit or recovery of any portion due Lessor hereunder shall be cumulative, and not exclusive, and in addition any defense to any other remedy referred subsequent action brought for any amount not theretofore reduced to herein or otherwise available to Lessor judgment in law or in equity. Any repossession or subsequent sale or lease by Lessor favor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment.

Appears in 1 contract

Samples: Lease Agreement (Innovative Medtech, Inc.)

REMEDIES OF LESSOR. At any time after Upon the occurrence of any Event of DefaultDefault and at any time thereafter, Lessor may without any further notice exercise one or more of the following remedies, as Lessor in its sole discretion shall elect: (a) Lessor may terminate any or declare all of the Leases with respect unpaid rentals under this Lease to be immediately due and payable: (b) cancel this Lease as to any or all items of the Equipment; (c) take possession of the Equipment subject theretowherever found, and for this purpose enter upon any premises of Lessee (Lessee hereby authorizes and empowers Lessor and its agents to enter upon such premises wherever the Equipment may be found) and remove the Equipment, without any liability for suit, action or other proceeding by the Lessee and remove the same; (d) cause Lessee at its expense to promptly return the Equipment to Lessor at any location in the continental United States specified by Lessor and in the condition set forth above; (e) use, hold or otherwise dispose of the Equipment or any item thereof on the premises of Lessee or any other location without affecting the obligations of Lessee as provided in this Lease; (f) sell or lease the Equipment or any part thereof, at public auction or by 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 and, if notice thereof is required by law, any notice in writing of any such sale or lease by Lessor to Lessee not less than ten (10) days prior to the date thereof, shall constitute reasonable notice thereof to Lessee; (g) proceed by appropriate action either by law or in equity to enforce performance by Lessee of the applicable covenants of this Lease or to recover damages for the breach thereof; (h) exercise any and all rights accruing to a lessor under any applicable law upon a default by a lessee; (i) recover from Lessee the amount of payments immediately due and payable, if the default shall be for nonpayment of one or more but less than all of the payments called for herein, together with interest and any other sum owing because of default, without cancellation of the Lease or without waiver of the right of future payments to the Lessor under this Lease. In addition, Lessor shall be entitled to recover immediately, as liquidated damages, and not as a penalty, a sum equal to the aggregate of the following: (a) all unpaid rentals or other sums which are due and payable for any items of the Equipment up to the date of redelivery to or repossession by Lessor; (b) any expenses paid or incurred by Lessor may recover from Lessee in connection with the repossession, holding, repair, modification, upgrade and sale, lease or other disposition of the Equipment, including fifteen percent of all Rent amounts due as attorneys' fees (but not to exceed the amount of attorneys' fees that Lessor actually incurs), and other amounts then legal expenses; (c) all unpaid rentals due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee this Lease for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the EquipmentEquipment which Lessee fails to return to Lessor as provided above or converts or destroys, or which Lessor shall sellis unable to repossess; and (d) an amount equal to any excess of (i) all unpaid rentals for any item of the Equipment returned to or repossessed by Lessor from the date thereof to the end of the respective rental period therefor, lease or otherwise dispose discounted to present value at the then prevailing "Prime Rate" (as announced by NationsBank of such item in a commercially reasonable mannerGeorgia, with or without notice and on public or private bidN.A., and apply Atlanta, GA) over (ii) the net proceeds thereof (after deducting actually received by Lessor, to the estimated fair market value of such item at the expiration of the term of the applicable Leaseextent attributable to Lessee's former leasehold interest, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent sale thereof by Lessor or lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained thereof by Lessor, discounted at such rate. Each None of the remedies under this Lease are intended to be exclusive, but each shall be cumulative, and not exclusive, cumulative and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of the Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against the Lessee shall not bar the Lessor's right to repossess any or all items of the Equipment.

Appears in 1 contract

Samples: Master Equipment Lease Agreement (Integral Systems Inc /Md/)

REMEDIES OF LESSOR. At any time after the occurrence All rights and remedies of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or all of the Leases with respect herein set forth are in addition to any and all rights and remedies which are or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment available to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity. (a) If Lessee shall fail to pay any rent reserved herein when due, or fails to pay Lessor’s charges for water, electrical, or other services within ten (10) days after the rendition of a statement, or defaults in the prompt and full performance of any of Lessee’s covenants and agreements hereunder, or if the leasehold interest of Lessee be levied upon, under execution or be attached, or if Lessee makes an assignment for the benefit of creditors, or if a receiver be appointed for any property of Lessee, or if Lessee abandons the premises, then, and in any such event, Lessor may, if Lessor so elects, and with or without notice of such election and with or without demand whatsoever, forthwith terminates this Lease and the Lessee’s right to possession of the premises, or Lessor may, without terminating this Lease, terminate Lessee’s right to possession of the premises. Lessee hereby waives Lessee’s right to trial by jury in connection with any proceedings by Lessor to enforce any of its rights against Lessee under this Lease, including, without limitation, seeking damagesany proceedings to remove Lessee from the premises. (b) Upon the filing of a petition by or against Lessee under the United States Bankruptcy Code, specific (the “Code”), Lessee, as debtor and as debtor in possession, and any trustee who may be appointed shall (i) timely perform each and every obligation of Lessee under this Lease until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; (ii) pay monthly in advance on the first day of each month as reasonable compensation for use and occupancy of the premises an amount equal to the Rent and other charges otherwise due pursuant to this Lease; (iii) provide adequate assurance of future performance under the Lease; (iv) reject or an injunctionassume this Lease within sixty (60) days of the filing of such petition under the Code, and (v) do all other things of benefit to Lessor otherwise required or permitted under the Code. Upon repossession Lessee, as debtor and as debtor in possession, and any trustee, shall be deemed to have rejected this Lease in the event of the failure to comply with any of the above. Included within and in addition to any other conditions or return obligations imposed upon Lessee or its successor in the event of assumption and/or assignment is the prior written consent of any item mortgagee to which this Lease has been assigned as collateral security. (c) Upon termination of this Lease, or upon the termination of Lessee’s right to possession without termination of the EquipmentLease, Lessee shall surrender possession and vacate the premises immediately, and Lessor may enter into and repossess the premises with or without process of law and remove all persons and property therefrom in the same manner and with the same right as if this Lease had not been made, and for the purpose of such entry and repossession, Lessee waives any notice provided by law or otherwise to be given in connection therewith. (d) If Lessee abandons the premises, or if Lessor elects to terminate Lessee’s right to possession only, without terminating the Lease as above provided, Lessor may remove from the premises any and all property found therein and such repossession shall not release Lessee from Lessee’s obligation to pay the rent reserved herein. After any such repossession by Lessor without termination of the Lease, Lessor shall sellmake reasonable efforts to relet the premises, lease or any part thereof, as agent of Lessee to any person, firm, or corporation and for such time and upon such terms as Lessor, in Lessor’s sole discretion, may determine. Lessor may make repairs, alterations, and additions in and to the premises and redecorate the same to the extent deemed by Lessor necessary or desirable, and Lessee shall, upon demand, pay the cost thereof, together with Lessor’s expense (including any broker’s commission) of reletting. If the rents collected by Lessor upon any such reletting are not sufficient to pay monthly the full amount of all rent reserved herein, together with the costs of such repairs, alterations, additions, redecorating, and expenses, Lessee shall pay to Lessor the amount of each monthly deficiency upon demand. (e) Any and all property which may be removed from the premises by Lessor may be handled, removed, stored, or otherwise dispose disposed of by Lessor at the risk and expense of Lessee, and Lessor shall, in no event, be responsible for the preservation or safekeeping thereof. Lessee shall pay to Lessor, upon demand, any and all expenses incurred in such item removal and all storage charges against such property so long as the same shall be in Lessor’s possession or under Lessor’s control. If any property shall remain in the premises or in the possession of Lessor and shall not be removed by Lessee within a commercially reasonable mannerperiod of ten (10) days from and after the time when the premises are either abandoned by Lessee or repossessed by Lessor under the terms of this Lease, the property shall conclusively be deemed to have been forever abandoned by Lessee. (f) Lessor and Lessee agree that all of the goods, chattels, trade fixtures, and other personal property belonging to Lessee which are or may be put into the premises during the term, whether exempt or not from sale under execution or attachment, shall, at all times, be bound with a lien in favor of Lessor, and shall be chargeable for all rents hereunder and for the fulfillment of the other covenants and agreements of Lessee herein contained. In the event that Lessee shall have abandoned the premises, or without notice and on in the event of any default of Lessee hereunder, Lessor shall have the right to sell all or any part of said property at public or private bidsale, without giving notice to Lessee or any notice of sale, all notices required by statute or otherwise being hereby expressly waived, and to apply the net proceeds thereof (after deducting the estimated fair market value of such item at sale, first to the expiration payment of all costs and expenses of conducting the term same, or caring for or storing said property; second, toward the payment of the applicable Leaseany indebtedness which may be or may become due from Lessee to Lessor; and, third, to pay to Lessee, on demand, in the case writing, any surplus remaining after all indebtedness of a saleLessee to Lessor has been fully paid. (g) In addition to all other rights and remedies of Lessor hereunder, or the rents due for if Lessee fails to timely perform any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expensesits obligations hereunder, including, without limitation, reasonable attorneys' feesmonetary obligations, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds whether or not Lessor has terminated this Lease or Lessee’s right to be retained by Lessor. Each possession of the remedies premises, or either, Lessor may elect to accelerate and make immediately due and payable all of the rent, additional rent, adjusted rent and any other charges or fees which are due or may become due hereunder for the remainder of the term of this Lease. Lessee agrees that Lessor may file suit to recover any sums due under this Lease from time to time and that no suit or recovery of any portion due Lessor hereunder shall be cumulative, and not exclusive, and in addition any defense to any other remedy referred subsequent action brought for any amount not theretofore reduced to herein or otherwise available to Lessor judgment in law or in equity. Any repossession or subsequent sale or lease by Lessor favor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment.

Appears in 1 contract

Samples: Lease Agreement (11 Good Energy Inc)

REMEDIES OF LESSOR. At any time after Upon the occurrence of any Event of DefaultDefault and any time thereafter, Lessor may may, without notice, exercise one or more of the following remedies, as Lessor, in its sole discretion shall elect: (a1) Lessor may declare all unpaid payments under the Lease to be immediately due and payable; (2) terminate any or all of the Leases with respect Agreement as to any or all items of Equipment subject theretothe Equipment; (b3) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of the Equipment wherever found, and for this purpose enter upon any or all items premises of Lessee and remove the Equipment, wherever the same may be located, without demand or notice, without any court order liability for suit, action or other process of law and without liability to Lessee for any damages occasioned proceedings by such taking of possession, and any such taking of possession shall not constitute a termination of any LeaseLessee; (d4) Lessor may demand that direct Lessee return any or all items of at its expense to promptly prepare the Equipment to Lessor in accordance with Paragraph 16for pickup by Lessor; and (e5) Lessor may pursue any other remedy available at law or in equityuse, includinghold, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such the Equipment or any item in a commercially reasonable manner, with or without notice and thereof on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of site specified on the applicable Lease, Agreement or any other location without affecting the obligations of Lessee as provided in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewithAgreement; (6) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained proceed by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor appropriate action either in law or in equity. Any repossession equity to enforce performance by Lessee of the terms of the Agreement or subsequent sale or lease to recover damages for the breach hereof; (7) apply the Security Deposit to payment of Lessor’s costs, expenses and attorney fees in enforcing the terms of the Agreement and to indemnify Lessor against any damages sustained by Lessor (provided, however, nothing herein shall be construed to mean that the recovery of damages by Lessor shall be limited to the amount of the Security Deposit); (8) exercise any item and all rights accruing to Lessor under any applicable law upon an Event of Default. In addition, Xxxxxx shall be entitled to recover immediately as damages, and not as a penalty, a sum equal to the aggregate of the following: (i) all unpaid payments as are due and payable for any items of Equipment shall not bar an action for a deficiency as herein provided, and up to the bringing date of an action or the entry of judgment against Lessee shall not bar repossession by Lessor's right to repossess any or all items of Equipment.;

Appears in 1 contract

Samples: Lease Agreement

REMEDIES OF LESSOR. At 1) If any Event of Default occurs, the Lessor shall have the right, at the option of Lessor, to terminate this Lease upon three (3) days written notice to Lessee, and to thereupon re-enter and take possession of the Premises with or without summary or other legal process. If any Event of Default occurs, Lessor shall have the right, at its option, from time to time, without terminating the Lease, to re-enter and re-let the Premises, or any part thereof, with or without legal process, as the agent and for the account of Lessee upon such terms and conditions as Lessor may deem advisable or satisfactory, in which event the rents received on such re-letting shall be applied first to the expenses of such re-letting and collection including, but not limited to, necessary renovation and alterations to the Premises, reasonable attorneys’ fees, any real estate commissions paid, and thereafter toward payment of all sums due or to become due to the Lessor hereunder, and if a sufficient sum shall not be thus realized or secured to pay such sums and other charges, (i) at Lessor’s option, Lessee shall pay Lessor any deficiency monthly, notwithstanding Lessor may have received rental in excess of the rental stipulated in this Lease in previous or subsequent months, and Lessor may bring an action therefor as such monthly deficiency shall arise, or (ii) at Lessor’s option, the entire deficiency, which is subject to ascertainment for the remaining term of this Lease, shall be immediately due and payable to Lessor. Nothing herein, however, shall be construed to require Lessor to re-enter or re-let the Premises or any portion thereof in any event. The Lessor shall not, in any event, be required to pay Lessee any surplus of any sums received by Lessor on a re-letting of said Premises in excess of the rent provided in this Lease. 2) If any Event of Default occurs, the Lessor shall have the right, at its option, to declare all rent (or any portion thereof) for the entire remaining term, and other indebtedness owing by Lessee to Lessor, if any, immediately due and payable without regard to whether possession of the Premises shall have been surrendered to or taken by Lessor, and may commence action immediately thereupon and obtain a judgment therefor. 3) If any Event of Default occurs, the Lessor, in addition to other rights and remedies it may have, shall have the right to remove all or any part of the Lessee’s property from the Premises and any property removed may be stored in any public warehouse or elsewhere at the cost of, and for the account of Lessee and the Lessor shall not be responsible for the care or safekeeping thereof whether in transport, storage or otherwise, and the Lessee hereby waives any and all claims against Lessor for loss, destruction and/or damage or injury which may be occasioned by any of the aforesaid acts. 4) No such re-entry or taking possession of the Premises by Lessor shall be construed as an election on Lessor’s part to terminate this Lease unless a written notice of such intention is given to Lessee. Notwithstanding any such reletting without termination, Lessor may at all times thereafter elect to terminate this Lease for such previous Event of Default if same then remains uncured and any or all Events of Default that are non-monetary in nature have occurred more than three times during the term of this Lease whether cured or not. Any such re-entry shall be allowed by Lessee without hindrance, and Lessor shall not be liable for damages for any such re-entry, or guilty of trespass or forcible entry. 5) In the event of a breach or threatened breach by Lessee of any of the covenants or provisions hereof which reasonably creates an emergency situation or unreasonable threat to persons or property, Lessor shall have the right of injunction and the right to invoke any remedy allowed at law or in equity as if re-entry, summary proceedings and other remedies were not herein provided for. Mention in this Lease of any particular remedy shall not preclude Lessor from any other remedy, in law or in equity. Lessee hereby expressly waives any and all rights of redemption granted by or under any present or future laws in the event of Lessee being evicted or dispossessed for any cause, or in the event of Lessor obtaining possession of Premises by reason of the violation by Lessee of any of the covenants and conditions of this Lease, or otherwise. 6) If any Event of Default occurs, the Lessor shall have the right to apply and/or retain all or any portion of the Deposit paid by Lessee hereunder against any all loss, cost, expenses or damage sustained or incurred by Lessor as a result thereof, as specified in Section 9 of this Lease. 7) Notwithstanding any other provision hereof, Lessee shall indemnify, reimburse and hold harmless the Lessor from any and all costs, expenses, charges and fees, including without limitation reasonable attorneys fees, incurred or expended by Lessor as a result of the default by Lessee of any term, condition, or covenant of this Lease or any rule or regulation promulgated pursuant hereto; or as a result of Lessor’s defense of any right or lien held by Lessor under this Lease or provided by law, whether or not suit shall actually be brought. All costs, expenses, charges and fees shall be deemed Additional Rent and shall be payable by Lessee upon demand of Lessor. All sums, Rent and Additional Rent payable under this Lease, including without limitation the sums due under this section, shall bear interest from the date payment is due, and whether before or after judgment, at a rate of interest equal to 18% per annum notwithstanding any lower rate of interest specified in Florida Statutes, Chapter 55.03 or any other Chapter of the Florida Statutes. Upon the occurrence of any Event of Default, Lessor may exercise one or more Default and/or in connection with Lessor’s pursuit of any of the following foregoing remedies: (a) Lessor may terminate any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the be obligated to mitigate its damages as required by applicable Lease, statute in the case State of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of EquipmentFlorida.

Appears in 1 contract

Samples: Lease Agreement (Ameripath Inc)

REMEDIES OF LESSOR. At any time after A. Upon termination of Lessee’s right of possession hereunder, whether this Lease be terminated or not, Lessee agrees to surrender possession of the occurrence Demised Premises immediately without the receipt of any Event demand for rent, notice to quit or demand for possession of Defaultthe Demised Premises whatsoever, and hereby grants to Lessor full, free and complete license to enter into and upon the Demised Premises, or any part thereof, to take possession thereof, with process of law, and to expel and remove Lessee or any other person who may be occupying the Demised Premises, or any part thereof, and Lessor may exercise one or more use such force in and about expelling and removing Lessee and said other persons as may reasonably be necessary, and Lessor may further repossess itself of the following remedies: (a) Lessor may terminate any or all Demised Premises as of its former estate, but said entry and repossession of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession Demised Premises shall not constitute a trespass or forcible entry or detainer, nor shall it cause a forfeiture or cancellation of rents or other sums due or to become due during the full stated term hereof irrespective of earlier termination, nor a waiver of any covenant, agreement or promise herein contained to be performed by Lessee; and Lessee agrees to pay to Lessor, as liquidated damages, one and one-half times the rent paid by Lessee during the month preceding the termination of the Lease for all the time that Lessee shall retain possession of the Demised Premises, or any part thereof, after termination of Lessee’s right of possession. B. Lessee hereby waives any and all notice of any election made by Lessor hereunder, demand for rent, notice to quit, demand for possession and any and all notices and demands whatsoever, or any and every nature (except notices herein specifically provided for), which may or shall be required by any statute of this State relating to forcible or unlawful entry or detainer, or to landlord and tenant, or any other statute, or by the common law, during the term of this Lease; , or any extension thereof. Acceptance of rent or other sums due hereunder, whether in a single instance or repeatedly after the same fall due, or after knowledge of any breach hereof by Lessee, or the giving or making of any notice or demand, whether according to any statutory provision or not, or any act or series of acts, except an express written waiver, shall not be construed as a waiver of Lessor’s right to act without notice or demand, or of any other right hereby given Lessor, nor as an election not to proceed under the provisions of this Lease. The obligation of Lessee to pay the rent (dor other sums) reserved hereby during the balance of the stated term hereof irrespective of earlier termination, or during any extension hereof, shall not be deemed to be waived, released or terminated by the service of any notice to collect, demand for possession or notice that the tenancy hereby created will be terminated on a date therein named, or the institution of any action of forcible detainer or ejectment, or similar action, or any judgment for possession which may be rendered in such action. Lessor may demand that collect and receive any rent or other sums due from Lessee, and payment or receipt thereof shall not waive or affect any such notice, demand, suit or judgment, or in any manner waive, affect, change, modify or alter any rights or remedies which Lessor may have by virtue hereof. C. If Lessee’s right to the possession of the Demised Premises shall be terminated in any way, on account of default of Lessee, the Demised Premises, or any part or parts thereof, may, but need not be, relet by Lessor for the account and benefit of Lessee, for such rent and upon such terms and to such person, including a corporation or corporations controlled by Lessor, and for such period or periods as may seem fit to the Lessor, and if a sufficient sum shall not be received from such reletting to satisfy the rent hereby reserved, after paying the expenses of reletting and collection, and all expenses of placing the Demised Premises in condition for such reletting. Lessee return any agrees to pay and satisfy all deficiency; but the acceptance of a tenant or all items of Equipment to tenants by Lessor in accordance with Paragraph 16; place of Lessee shall not operate as a cancellation hereof nor release Lessee from the performance of any covenant, promise or agreement herein contained, and (e) performance by any substituted tenant by the payment of rent or otherwise, shall constitute only satisfaction pro tanto of the obligation of Lessee arising hereunder. D. It is further covenanted and agreed that Lessor may pursue any other of the remedies in this Lease provided, or any which may be allowed at law, in equity or by statute, either separately or concurrently, and that any and all of Lessor’s rights and remedies are cumulative and not alternative, and shall not be exhausted by the exercise thereof on one or more occasions. No delay or omission to exercise any remedy available at law or in equityright accruing on any default shall impair any such remedy or right, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return be construed as a waiver of any item such default, or acquiescence therein, nor shall it affect any subsequent default of the Equipmentsame or a different nature, but every such remedy or right may be exercised from time to time, and as often as may be deemed expedient by Lessor. In case Lessor shall have proceeded to enforce any right under this Lease by entry, suit or otherwise, and such proceeding shall have been discontinued or abandoned because of a waiver, settlement or for any other reason, or shall have been determined adversely to Lessor, then and every such case, Lessor shall sell, lease or otherwise dispose of such item be restored to its former position and rights hereunder in a commercially reasonable manner, with or without notice and on public or private bid, and apply respect to the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such itemDemised Premises, and all expensesrights, includingremedies and powers of Lessor shall continue as though no such proceeding had been taken. Neither the rights herein nor by law given to receive, without limitationcollect, reasonable attorneys' feesxxx for or distrain for any rent or rents, incurred in connection therewith) towards moneys or payments or to enforce any of the Rent and other amounts due under such terms, provisions or conditions of this Lease, with nor to prevent the breach or nonobservance thereof, nor the exercise of any excess net proceeds such right or remedy hereunder or otherwise granted or arising, shall in any way affect or impair or limit the right or power of Lessor to be retained by Lessor. Each of declare the remedies under term hereby granted ended, or to terminate this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor because of any item of Equipment shall not bar an action for a deficiency default or breach, as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment.

Appears in 1 contract

Samples: Lease (Bway Corp)

REMEDIES OF LESSOR. At any time after If the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: Lessee (a) Lessor may terminate Does not pay in full when due any and all installments of rent and/or any other charge or all of payment herein reserved, included, or agreed to be treated or collected as rent and/or any other charge, expense, or cost herein agreed to be paid by the Leases with respect to any or all items of Equipment subject theretoLessee; or (b) Lessor may recover from Lessee all Rent and other amounts then due and Violates or fails to become due under perform or otherwise breaks any covenant or all of the Leasesagreement herein contained; or (c) Lessor may take possession Vacates the demised premises or removes or attempts to remove or manifests an intention to remove any goods or property therefrom otherwise than in the ordinary and usual course of any or all items of Equipment, wherever business without having first paid and satisfied the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; full for all rent and (e) Lessor other charges then due or that may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at thereafter become due until the expiration of the then current term above mentioned; or (d) Becomes embarrassed or insolvent, or makes an assignment for the benefit of creditors, or if a petition in bankruptcy is filed by or against Lessee or a complaint in equity or other proceedings for the applicable Leaseappointment of a receiver for Lessee is filed, or if proceedings for reorganization or for composition with creditors under any State or Federal law be instituted by or against Lessee, or if the real or personal property of Lessee shall be levied upon or sold, or if for any other reason Lessor shall, in good faith, believe that Lessee's ability to comply with the case covenants of a salethis lease, including the prompt payment of rent hereunder, is or may become impaired; (1) The whole balance of rent and other charges, payments, costs and expenses herein agreed to be paid by Lessee, or any part thereof, and also all costs and officers' commissions including watchmen's wages shall be taken to be due and payable and in arrears as if by the terms and provisions of this lease said balance of rent and other charges, payment, taxes, costs and expenses were on that date, payable in advance. Further, if this lease or any part thereof is assigned, or if the premises, or any part thereof is sub-let, Lessee hereby irrevocably constitutes and appoints Lessor as Lessee's agent to collect the rents due for from such assignee or sub-lessee and apply the same to the rent due hereunder without any period beyond way affecting Lessee's obligation to pay any unpaid balance of rent due hereunder; or (2) At the scheduled expiration option of such LeaseLessor, in this lease and the case terms hereby created shall determine and become absolutely void without any right on the part of Lessee to reinstate this lease by payment of any subsequent lease sum due or by other performance of any condition, term, or covenant broken; whereupon, Lessor shall be entitled to recover damages for such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred breach in connection therewith) towards an amount equal to the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each amount of rent reserved for the balance of the remedies under term of this Lease shall be cumulativelease, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or less the fair rental value of the said demised premises for the remainder of the lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipmentterm.

Appears in 1 contract

Samples: Lease Agreement (Lithium Technology Corp)

REMEDIES OF LESSOR. At If Lessee: ----------------------------- a. Does not pay in full when due any time after and all installments of rent and/or other charge or payment in this Lease, included, or agreed to be treated or collected as rent and/or any other charge, expense, or cost herein agreed to be paid by Lessee; or b. Violates or fails to perform or otherwise breaks any covenant or agreement contained in this Lease; or c. Vacates the occurrence Premises or removes or attempts to remove or manifests an intention to remove any goods or property from the Premises otherwise than in the ordinary and usual course of any Event of Default, business without having first paid and satisfied Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or in full for all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent rent and other amounts charges then due and to or that may thereafter become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at until the expiration of the term Term or Extension; or d. Becomes embarrassed or insolvent, or makes an assignment for the benefit of creditors, or if a petition in bankruptcy is filed by or against Lessee or a complaint in equity or other proceedings for reorganization or for composition with creditors under any State or Federal law be instituted by or against Lessee, or if the real or personal property of Lessee shall be levied upon or be sold, thereupon: (1) The whole balance of rent due for the entire Term and/or any extension thereto, including but not limited to Base Rent and additional rent, and other charges, payments, costs, and expenses agreed to be paid by Lessee, or any part thereof, shall be taken to be due and payable and in arrears as if by the terms and provisions of this Lease said balance of rent and other charges, payments, taxes, costs and expenses were on that date, payable in advance; or (2) With respect to any portion of the applicable LeasePremises which is vacant or which is physically occupied by Lessee, Lessor may remove all persons and property therefrom, and store such property in a public warehouse or elsewhere at the cost of and for the account of Lessee, without service of notice or resort to legal process (all of which Lessee expressly waives) and without being deemed guilty of or liable for trespass or becoming liable for any loss or damage which may be occasioned thereby (Lessee hereby waives any and all rights of redemption granted by or under any present or future law in the case event this Lease is terminated or Lessee is evicted or dispossessed by reason of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case violation by Lessee of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under terms and conditions of this Lease); or (3) At the option of Lessor, this Lease shall be cumulative, determine and not exclusive, and in addition become absolutely void without any right on the part of Lessee to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease reinstate this Lease by Lessor payment of any item sum due or by other performance of Equipment any condition, term, or covenant, broken; whereupon, Lessor shall not bar be entitled to recover damages for such breach in an action amount equal to the amount of rent reserved for a deficiency as herein providedthe balance of the Term and any extension properly exercised; or THE FOLLOWING PARAGRAPH SETS FORTH A WARRANT OF AUTHORITY FOR AN ATTORNEY TO CONFESS JUDGMENT AGAINST THE LESSEE. IN GRANTING THIS WARRANT OF ATTORNEY TO CONFESS JUDGMENT AGAINST THE LESSEE, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of EquipmentTHE LESSEE HEREBY KNOWINGLY, INTENTIONALLY AND VOLUNTARILY, AND AFTER CONSULTING WITH SEPARATE COUNSEL OF THE LESSEE, UNCONDITIONALLY WAIVES ANY AND ALL RIGHTS THE LESSEE HAS OR MAY HAVE TO PRIOR NOTICE AND AN OPPORTUNITY FOR HEARING UNDER THE RESPECTIVE CONSTITUTIONS OF THE COMMONWEALTH OF PENNSYLVANIA, INCLUDING ANY PRIOR NOTICE AND OPPORTUNITY BEFORE JUDGMENT IS ENTERED OR BEFORE EXECUTION IS ISSUED UPON ANY JUDGMENT SO ENTERED. THE LESSEE, BY EXECUTING THE FOLLOWING SIGNATURE LINE, ACKNOWLEDGED THAT THE LESSEE HAS READ AND THAT THE LESSEE COMPREHENDS FULLY THE EFFECT OF THIS CONFESSION OF JUDGMENT AND INCLUDING THE WAIVER OF PRIOR NOTICE AND OPPORTUNITY FOR A HEARING BEFORE THE ENTRY OF A JUDGMENT OR ANY EXECUTION ISSUING ON THAT JUDGMENT. Cimnet, Inc. By: /s/ JOHN D. RICHARDSON ----------------------------------- Attest: /s/ JASON DIETRICH ----------------------------------- "Lessee" CONFESSION OF JUDGMENT FOR MONEY. LESSEE COVENANTS AND AGREES THAT IF THE RENT AND/OR ANY CHARGES RESERVED IN THIS LEASE AS RENT (INCLUDING ALL ACCELERATIONS OF RENT PERMISSIBLE UNDER THE PROVISIONS OF THIS LEASE) SHALL REMAIN UNPAID FIVE (5) BUSINESS DAYS AFTER THE SAME IS REQUIRED TO BE PAID, THEN AND IN THAT EVENT, LESSOR MAY CAUSE JUDGMENT TO BE ENTERED AGAINST LESSEE, AND FOR THAT PURPOSE LESSEE HEREBY AUTHORIZES AND EMPOWERS LESSOR OR ANY PROTHONOTARY, CLERK OF COURT OR ATTORNEY OF ANY COURT OF RECORD TO APPEAR FOR AND CONFESS JUDGMENT AGAINST LESSEE AND AGREES THAT LESSOR MAY COMMENCE AN ACTION PURSUANT TO PENNSYLVANIA RULES OF CIVIL PROCEDURE NO. 2950 ET. SEQ. AS AMENDED FROM TIME TO TIME FOR THE RECOVERY FROM LESSEE OF ALL RENT UNDER THIS LEASE (INCLUDING ALL ACCELERATIONS OF RENT PERMISSIBLE UNDER THE PROVISIONS OF THIS LEASE) AND/OR FOR ALL CHARGES RESERVED HEREUNDER AS RENT UNDER THIS LEASE, AS WELL AS FOR INTEREST AND COSTS AND ATTORNEY'S COMMISSION, FOR WHICH AUTHORIZATION TO CONFESS JUDGMENT, THIS LEASE, OR A TRUE AND CORRECT COPY THEREOF, SHALL BE SUFFICIENT WARRANT. SUCH JUDGMENT MAY BE CONFESSED AGAINST LESSEE FOR THE AMOUNT OF RENT IN ARREARS (INCLUDING ALL ACCELERATIONS OF RENT PERMISSIBLE UNDER THE PROVISIONS OF THIS LEASE) AND/OR FOR ALL CHARGES RESERVED HEREUNDER AS RENT, AS WELL AS FOR INTEREST AND COST; TOGETHER WITH ATTORNEY'S COMMISSION OF TWENTY PERCENT (20%) OF THE FULL AMOUNT OF LESSOR'S CLAIM AGAINST LESSEE. LESSEE FURTHER WAIVES ITS RIGHTS, IF ANY, TO NOTICE BY THE LESSOR PRIOR TO EXECUTION UPON SUCH JUDGMENT AGAINST ANY OF THE LESSOR'S PROPERTY, REAL OR PERSONAL. NEITHER THE RIGHT TO INSTITUTE AN ACTION PURSUANT TO PENNSYLVANIA RULES OF CIVIL PROCEDURE NO. 2950 ET. SEQ. AS AMENDED FROM TIME TO TIME NOR THE AUTHORITY TO CONFESS JUDGMENT GRANTED HEREIN SHALL BE EXHAUSTED BY ONE OR MORE EXERCISES THEREOF, BUT SUCCESSIVE COMPLAINTS MAY BE FILED AND SUCCESSIVE JUDGMENTS MAY BE ENTERED FOR THE AFOREDESCRIBED SUMS FIVE (5) DAYS OR MORE AFTER THEY BECOME DUE AS WELL AS AFTER THE EXPIRATION OF THE ORIGINAL TERM AND/OR DURING OR AFTER EXPIRATION OF ANY EXTENSION OR RENEWAL OF THIS LEASE. THE FOLLOWING PARAGRAPH SETS FORTH A WARRANT OF AUTHORITY FOR AN ATTORNEY TO CONFESS JUDGMENT AGAINST THE LESSEE. IN GRANTING THIS WARRANT OF ATTORNEY TO CONFESS JUDGMENT AGAINST THE LESSEE, THE LESSEE HEREBY KNOWINGLY, INTENTIONALLY AND VOLUNTARILY, AND AFTER CONSULTING WITH SEPARATE COUNSEL OF THE LESSEE, UNCONDITIONALLY WAIVES ANY AND ALL RIGHTS THE LESSEE HAS OR MAY HAVE TO PRIOR NOTICE AND AN OPPORTUNITY FOR HEARING UNDER THE RESPECTIVE CONSTITUTIONS OF THE COMMONWEALTH OF PENNSYLVANIA, INCLUDING ANY PRIOR NOTICE AND OPPORTUNITY BEFORE JUDGMENT IS ENTERED OR BEFORE EXECUTION IS ISSUED UPON ANY JUDGMENT SO ENTERED. THE LESSEE, BY EXECUTING THE FOLLOWING SIGNATURE LINE, ACKNOWLEDGED THAT THE LESSEE HAS READ AND THAT THE LESSEE COMPREHENDS FULLY THE EFFECT OF THIS CONFESSION OF JUDGMENT AND INCLUDING THE WAIVER OF PRIOR NOTICE AND OPPORTUNITY FOR A HEARING BEFORE THE ENTRY OF A JUDGMENT OR ANY EXECUTION ISSUING ON THAT JUDGMENT. Cimnet, Inc. By: /s/ JOHN D. RICHARDSON ----------------------------------- Attest: /s/ JASON DIETRICH ----------------------------------- "Lessee" CONFESSION OF JUDGMENT FOR POSSESSION OF REAL PROPERTY. LESSEE COVENANTS AND AGREES THAT IF THIS LEASE SHALL BE TERMINATED (EITHER BECAUSE OF CONDITION BROKEN DURING THE TERM OF THIS LEASE OR ANY RENEWAL OR EXTENSION THEREOF AND/OR WHEN THE TERM HEREBY CREATED OR ANY EXTENSION THEREOF SHALL HAVE EXPIRED) THEN, AND IN THAT EVENT, LESSOR MAY CAUSE A JUDGMENT IN EJECTMENT TO BE ENTERED AGAINST LESSEE FOR POSSESSION OF THE PREMISES, AND FOR THAT PURPOSE LESSEE HEREBY AUTHORIZES AND EMPOWERS ANY PROTHONOTARY, CLERK OF COURT OR ATTORNEY OF ANY COURT OF RECORD TO APPEAR FOR LESSEE AND TO CONFESS JUDGMENT AGAINST LESSEE IN EJECTMENT FOR POSSESSION OF THE PREMISES, AND AGREES THAT LESSOR MAY COMMENCE AN ACTION PURSUANT TO PENNSYLVANIA RULES OF PROCEDURE NO. 2970 ET. SEQ. AS AMENDED FROM TIME TO TIME FOR THE ENTRY OF AN ORDER IN EJECTMENT FOR POSSESSION OF REAL PROPERTY AND LESSEE FURTHER AGREES THAT A WRIT OF POSSESSION PURSUANT THERETO MAY ISSUE FORTHWITH, FOR WHICH AUTHORIZATION TO CONFESS JUDGMENT AND FOR THE ISSUANCE OF A WRIT OR WRITS OF POSSESSION PURSUANT THERETO, THIS LEASE, OR A TRUE AND CORRECT COPY THEREOF, SHALL BE SUFFICIENT WARRANT. LESSEE FURTHER COVENANTS AND AGREES, THAT IF FOR ANY REASON WHATSOEVER, AFTER SAID ACTION SHALL HAVE COMMENCED THE ACTION SHALL BE TERMINATED AND THE POSSESSION OF THE PREMISES SHALL REMAIN IN OR BE RESTORED TO LESSEE, LESSOR SHALL HAVE THE RIGHT UPON ANY SUBSEQUENT DEFAULT OR DEFAULTS, OR UPON THE TERMINATION OF THIS LEASE AS ABOVE SET FORTH TO COMMENCE SUCCESSIVE ACTIONS FOR POSSESSION OF REAL PROPERTY AND TO CAUSE THE ENTRY OF SUCCESSIVE JUDGMENTS BY CONFESSION IN EJECTMENT FOR POSSESSION OF THE PREMISES.

Appears in 1 contract

Samples: Lease Agreement (Cimnet Inc/Pa)

REMEDIES OF LESSOR. At It is expressly agreed that in case of failure on the part of the Lessee to pay the rent within fifteen (15) days after the same shall become due, and all other charges herein provided at the time when the same shall become due and payable (and it shall not be required that any demand shall be made for the same); or in the case the Lessee shall neglect or fail to perform or observe any of the other covenants, agreements or conditions imposed upon the Lessee by the Lease and fail to remedy and/or remove said breach within thirty (30) days of the receipt of notice thereof from the Lessor; or, if by reason of the nature of such default it cannot be corrected within said thirty (30) days, fail to commence to correct such default within said thirty (30) days and thereafter prosecute the correction of the same with reasonable diligence; or in the event that said Lessee makes an assignment for the benefit of creditors, or is adjudged a bankrupt; or a Debtor, Reorganiza-tion, Arrangement, or similar petition or proceedings be filed by or against the Lessee under any Chapter or provision of the Federal Bankruptcy Act, so-called; or in the event a Temporary or Permanent Receiver is appointed over the assets of said Lessee; or said Lessee's leasehold interest shall be attached or levied upon, (and such petition or proceeding under the Federal Bankruptcy Act, or such Receivership Attachment, or Levy is not vacated and/or removed within thirty (30) days thereafter; or if demised Premises shall be substantially deserted or vacated for a period of thirty (30) days or more; except as a result of casualty, strike, act of God or other cause beyond the Lessee's control; than in any of the above cases it shall be lawful for the Lessor thereupon, or at any time after the occurrence thereafter at its option, and notwithstanding any waiver of any Event prior breach of Defaultany covenant, Lessor may exercise one agreement or more of the following remedies: condition(s) either: (a) to enter upon the Premises or any part thereof in the name of the whole, and repossess the same as of its former estate, and to expel the Lessee and those claiming by, through or under it, and remove its effects, (forcibly if necessary) without being guilty of any manner of trespass and without prejudice to any other remedies which the Lessor may terminate any otherwise have or all of the Leases with respect to any or all items of Equipment subject theretouse, and upon entry as aforesaid, this lease shall terminate; or (b) the Lessor may recover from in any of the events aforesaid at its option enter upon the demised Premises as the agent of the Lessee all Rent and if the Lessor shall so desire, expel the lessee and those claiming under it, without being guilty of any manner of trespass, and may rent the demised Premises as such agent, applying the proceeds of such rents on account of the rent and other amounts then payments due and to become due under any or all of from the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned deficiency; and the Lessee covenants with the Lessor that in case of either such entry as aforesaid during the residue of said term, it will indemnify the Lessor against all loss of rents or other payments which it may incur by reason of such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand the Lease or entry as agent aforesaid. It is expressly understood and agreed that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulativenot continue for the benefit of any attaching creditor, and not exclusiveassignee for the benefit of creditors, and Receiver or Trustee in addition Bankruptcy, or any person upon or to any other remedy referred to herein whom the same might, except for this provision, devolve or otherwise available to Lessor in pass by operation of law or in equity. Any repossession or subsequent sale or lease by Lessor otherwise, except at the option of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment.

Appears in 1 contract

Samples: Lease Agreement (Regulus Corp)

REMEDIES OF LESSOR. At any time after If the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: Lessee: (a) Lessor may terminate Does not pay in full within fifteen (15) days when due any and all installments of rent and/or any other charge or all of payment reserved, included, or agreed to be treated or collected, as rent and/or any other charge, expense, or cost agreed to be paid by the Leases with respect to any or all items of Equipment subject theretoLessee; or (b) Lessor may recover from Lessee all Rent Violates or fails to perform or otherwise breaks any covenant or agreement herein contained and other amounts then due and fails to become due under cure any or all such default within fifteen (15) days of the Leasesnotice by Lessor; or (c) Lessor may take possession Vacates the demised premises or removes or attempts to remove or manifests an intention to remove any goods or property therefrom otherwise than in the ordinary and usual course of any or all items of Equipment, wherever business without having first paid and satisfied the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; full for all rent and (e) Lessor other charges then due or that may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at thereafter become due until the expiration of the then current term, above mentioned; or (d) Becomes insolvent, or makes an assignment for the benefit of creditors, or if a petition in bankruptcy is filed by or against the Lessee or a xxxx in equity or other proceeding for the appointment of a receiver for the Lessee is filed, or if proceedings for reorganization or for composition with creditors under any state or federal law are instituted by or against Lessee and is not dismissed within sixty (60) days after filing, or if the real or personal property of the Lessee shall be sold or levied upon by any sheriff, marshal or constable, then and in any or either of these events, there shall be deemed to be a breach of this lease, and ipso facto and without entry or other action by Lessor; (1) The rent for the entire unexpired balance of the term of this lease, as well as all other charges, payments, costs and expenses agreed to be paid by the applicable Lease, in the case of a saleLessee, or at the rents due for option of Lessor any period beyond the scheduled expiration part of such Lease, in the case of any subsequent lease of such itemit, and all expensesalso costs and officer's commissions including watchman's wages and further including the five percent chargeable by Act of Assembly to the Lessor, includingshall, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any and all installments of rent already due and payment herein reserved, included or agreed to be treated or collected as rent, and/or any other remedy referred charge, expense or cost agreed to herein be paid by the Lessee which may be due and payable and in arrears, be taken to be due and payable in arrears as if by the terms and provisions of this lease, the whole balance of unpaid rent and other charges, payments, taxes, costs and expenses were on that date payable in advance; and if this lease or otherwise available any part is assigned, or if the premises or any part is sublet, Lessee hereby irrevocably constitutes and appoints Lessor Lessee's agent to Lessor collect the rents due by such assignee or sublessee and apply the same to the rent due without in law any way affecting Lessee's obligation to pay any unpaid balance of rent due hereunder or in equity. Any repossession or subsequent sale or lease by Lessor the event of any item of Equipment the foregoing at any time at the option of Lessor. Lessor shall not bar an action for make a deficiency as herein provided, reasonable effort to re-rent the premises in the event of a default by Lessee or termination of the Lease; (2) This lease and the bringing term hereby created shall terminate and become absolutely void without any right on the part of the Lessee to save the forfeiture by payment of any sum due or by other performance of any condition, term or covenant broken; whereupon, Lessor shall be entitled to recover damages for such breach in an action or amount equal to the entry amount of judgment against Lessee shall not bar Lessor's right to repossess any or all items rent reserved for the balance of Equipmentthe term of this lease, less the fair rental value of the demised premises, for the residue of the term.

Appears in 1 contract

Samples: Lease Agreement (Dataram Corp)

REMEDIES OF LESSOR. At any time after In the occurrence event of any Event default of DefaultLessee as provided in Section 13.1, Lessor shall have the immediate right to re-enter and may remove all persons and property from the Premises. Lessor may dispose of such property in any manner it deems expedient at the expense of Lessee. Whether or not Lessor elects to re-enter, as herein provided, or take possession pursuant to legal proceedings or pursuant to any notice provided by law, Lessor may exercise one at its option terminate this Lease by giving written notice to Lessee specifying a date on which this Lease shall terminate, and upon such date, this Lease shall terminate. In case of any such default, termination, re-entry, expiration and/or dispossession by summary proceedings or more otherwise, (1) all Base Rent and Additional Rent shall become due thereupon and be paid up to the time of the following remedies: such re-entry, dispossession and/or expiration; and/or (a2) Lessor may terminate re-let the Premises or any part or all parts thereof, either in the name of Lessor or otherwise, for a term or terms which may, at Lessor's option, be less than or exceed the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of period which would otherwise have constituted the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration balance of the term of this Lease and may grant concessions or free rent; and/or (3) Lessee shall also pay Lessor as liquidated damages for the applicable Leasefailure of sublessee to observe and perform Lessee's covenants herein contained, in any deficiency between the case rent hereby reserved and/or covenanted to be paid and the net amount, if any, of a sale, or the rents due 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 of this Lease. The failure or refusal of Lessor to re-let the Premises or any period beyond the scheduled expiration of part or parts thereof shall not release or affect Lessee's liability for damages. In computing such Leaseliquidated damages there shall be added to such deficiency such expenses as Lessor may incur in connection with re-letting, in the case of any subsequent lease of such item, and all as legal expenses, including, without limitation, reasonable attorneys' fees, incurred brokerage and for keeping the Premises in connection therewith) towards good order or for preparing the Rent same for re-letting, including all alterations, repairs, replacements and other amounts due redecorations as Lessor may take in its sole discretion. Any suit brought to collect the amount of the deficiency for any month shall not prejudice in any way the rights of Lessor to collect the deficiency for any subsequent month by a similar proceeding. Lessor shall in no event be liable in any way whatsoever for failure to relet the Premises, or in the event the Premises are re-let, for failure to collect the rent under such Lease, with any excess net proceeds to be retained by Lessorre-letting. Each of the remedies under Mention in this Lease of any particular remedy shall be cumulative, and not exclusive, and in addition to preclude Lessor from any other remedy referred to herein or otherwise available to Lessor remedy, in law or in equity. Any repossession Lessee hereby expressly waives any and all rights or subsequent sale redemption granted by or lease under any present or future laws in the event of Lessor obtaining possession of the Premises, by Lessor reason of the violation by sublessee of any item of Equipment shall not bar an action for a deficiency as herein providedthe covenants and conditions of this Lease, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipmentotherwise.

Appears in 1 contract

Samples: Office Space Lease Agreement (Able Laboratories Inc)

REMEDIES OF LESSOR. At If LESSEE shall file a petition or institute any time after proceeding under the occurrence of National Bankruptcy Act, or any Event of Defaultamendment thereto, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any other act relating to bankruptcy or insolvency, whereby it seeks to be adjudicated a bankrupt or to be discharged from any or all of its debts or obligations or to effect a reorganization or a composition or extension of time to pay its debts, or if petition or proceedings of similar character be filed or instituted against LESSEE, and LESSEE shall thereafter be adjudicated a bankrupt, or (1) To collect by suit or otherwise, each installment of rent as it becomes due hereunder, or to enforce by suit or otherwise, any other term or provision hereof on the Leases with respect part of LESSEE required to any be kept or performed; or (2) To re-enter the demised premises, remove all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may persons therefrom, take possession of any or all items the demised premises and either: (a) Terminate this lease, in which event LESSOR shall thereupon be entitled to recover from LESSEE the worth at the time of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equitythe excess, includingif any, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipmentamount of rent reserved hereunder, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply for the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration balance of the term of this lease over the applicable Leasethen reasonable rental value of the premises for the balance of said term; or (b) Without terminating or forfeiting this lease, relet the premises as the agent and for the account of LESSEE, either in LESSOR'S name or otherwise, upon such terms and conditions and for such period as LESSOR may deem advisable, in which event LESSEE shall pay to LESSOR monthly the case of a sale, or difference between the rents due for any period beyond herein reserved and the scheduled expiration rents so received upon such reletting, after deducting from the rents so received the expenses of such Leasereletting and collecting, in the case of any subsequent lease of such item, including necessary renovation and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each alteration of the premises and reasonable attorney's fees and real estate commissions paid by LESSOR. The foregoing remedies under this Lease of LESSOR shall not be exclusive, but shall be cumulative, and not exclusive, cumulative and in addition to any other remedy referred to herein all remedies now or otherwise available to Lessor in hereafter allowed by law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipmentelsewhere provided for.

Appears in 1 contract

Samples: Lease Agreement (Authentic Specialty Foods Inc)

REMEDIES OF LESSOR. At any time after (a) Upon the occurrence of any an Event of Default, Lessor may exercise one or more may, if Lessor so elects, on notice to Lessee, either terminate this Lease and Xxxxxx’s right to possession of the following remedies: (a) Lessor may Premises or terminate any or all Xxxxxx’s right to possession of the Leases with respect to any or all items Premises without termination of Equipment subject thereto; this Lease. (b) Upon any termination of this Lease, whether by lapse of time or otherwise, Xxxxxx shall surrender possession and vacate the Premises immediately, and deliver possession thereof to Lessor, and hereby grants to Lessor may recover from Lessee all Rent the full right to enter into and other amounts then due and to become due under any upon the Premises in such event with or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and repossess the Premises and to expel or remove Xxxxxx and any others who may be occupying the Premises and to remove any and all property therefrom, using such force as may be necessary, without liability such entry constituting a trespass, eviction or forceable entry or detainer, and without relinquishing Lessor’s right to collect any rent that may be or become due, or any other right to which Lessor may be entitled under this Lease or by operation of law. (c) If Lessee abandons the Premises or Lessor may otherwise be lawfully entitled so to elect, and Lessor elects to terminate Lessee’s right to possession only, without terminating this Lease, Lessor may, at Lessor’s option, enter into the Premises, remove property, and take and hold possession all as in Subsection B above provided, without terminating this Lease. Upon and after entry into possession without terminate of this Lease, Lessor may relet the Premises or any part thereof for the account of Lessee to any person, firm or corporation other than Lessee for such rent, for such period (including periods extending beyond the term of this Lease) and upon such terms as Lessor in Lessor’s sole discretion shall determine. In any damages occasioned such case, Lessor may make such repairs and alterations to the Premises and redecorate them as deemed by Lessor to be appropriate in order to facilitate reletting of the Premises. All costs thereof and Xxxxxx’s expenses of retaking possession, removing property, and of reletting, including a reasonable lease commission, shall be charged against the first rents collected on any reletting of the Premises. If the rents collected by Lessor upon any such taking reletting for Xxxxxx’s account after payment of possessionthe foregoing expenses, are not sufficient to pay the full amount of the rent reserved in this Lease as it becomes due, Lessee shall pay to Lessor the amount of the deficiency each month upon demand. In the event the rents collected by Lessor upon any such reletting for Xxxxxx’s account after payment of the foregoing expenses exceed the full amount of the rent reserved in this Lease as it becomes due, such excess shall be retained by Lessor to be applied against any subsequent deficiency, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item excess remaining at the expiration end of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulativepaid to Lessee. (d) In the event of any breach or threatened breach by Xxxxxx of any covenants, and not exclusiveagreements, and terms or conditions made in this Lease, Lessor shall be entitled to enjoin such breach or threatened breach and, in addition to the rights and remedies provided hereunder, shall have any other right or remedy referred to allowed at law or equity, by statute or otherwise. The provisions of this section shall be construed consistent with the law of Missouri so that remedies of Lessor herein or otherwise described shall be available to Lessor in to the full extent but only to the extent that they are not invalid or unenforceable under the law or in equityof Missouri. Any repossession or subsequent sale or lease by Lessor In the event of any item alleged default of Equipment Lessor with respect to this Lease, Lessee shall not bar an action look solely to the estate and property interest of Lessor in the Building for a deficiency as herein providedthe satisfaction of Xxxxxx’s remedies or the collection of any judgment or other judicial process requiring the payment of money by Lessor, and no other property or assets of the bringing Lessor shall be subject to levy, execution or other enforcement procedure for the satisfaction of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of EquipmentXxxxxx’s remedies.

Appears in 1 contract

Samples: Lease Agreement

REMEDIES OF LESSOR. At 19.01 If Lessee fails to perform any time after the occurrence duty or obligation of any Event of DefaultLessee under this Lease, Lessor may exercise one at its option, without waiver of Default nor any other right or more 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 following reimbursement amount required. 19.02 Upon a Default, with or without notice or demand, and without limiting any other of Lessor's rights or remedies: , Lessor may: (a) Lessor may Terminate this Lease and/or terminate any or all Lessee's right to possession of the Leases Premises. Upon any such termination, Lessee will immediately surrender possession of the Premises to Lessor. On termination of this Lease or Lessee's right of possession, Lessor will be entitled to recover from Lessee: (i) the worth at the time of the award of the unpaid rent which had been earned at the time of the termination; (ii) the worth at the time of the award of the amount by which the unpaid rents which would have been earned after termination until the time of award exceeds the amount of such rental loss that Lessee proves could have been avoided; (iii) the worth at the time of the award of the amount by which the unpaid rents for the balance of the Lease Term after the time of award exceeds the amount of such rental Jxxx for such period that Lessee proves could be reasonably avoided; and (iv) the worth at the time of the award of any other amount necessary to compensate Lessor for all the damage proximately caused by Lessee's failure to perform its obligations under this Lease, including specifically the unamortized portion of all brokerage commissions paid in connection with respect this Lease and all costs of Lessor's Work (amortized without interest on a straight line basis over the initial Lease Term), and reimbursement of any free rent, deferred rent or other Lease execution inducement. The expiration or termination of this Lease, and/or the termination of Lessee's right to possession, will not release Lessee from any or all items of Equipment subject thereto; liability under this Lease. (b) Lessor may Continue the Lease and Lessee's right to possession and recover from Lessee all Rent and other amounts then due and rent as it becomes due. Acts of maintenance or preservation, efforts to become due relet the Premises, removal or storage of Lessee's personal property or the appointment of a receiver to protect Lessor's interest under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipmentthis Lease, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall will not constitute a termination of Lessee's right to possession. (c) Pursue any Lease; other remedy now or hereafter available to Lessor under the laws or judicial decisions of the state wherein the Premises are located. 19.03 The "worth at the time of award" referred to in Paragraph 19.02(a)(i), 19.02(a)(ii), and J9.02(a)(iv) will additionally include interest computed by allowing interest at the rate of 12% per annum (dor, if lower, at the maximum rate allowed by law). The "worth at the time of award" referred to in Paragraph 19.02(a)(iii) Lessor may demand that Lessee return any will be computed by discounting the amount at the discount rate of the Federal Reserve Bank of San Francisco in effect at the time of award, plus one percent (I%). 19.04 No right or all items of Equipment remedy conferred upon or reserved to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return this Lease is intended to be exclusive of any item of the Equipment, right or remedy granted to Lessor shall sell, lease by statute or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bidcommon law, and apply the net proceeds thereof (after deducting the estimated fair market value of each and every such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, right and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall remedy will be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment.

Appears in 1 contract

Samples: Sublease Agreement (Digimarc CORP)

REMEDIES OF LESSOR. At any time after If the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: Lessee (a) Lessor may terminate Does not pay in full when due any and all installments of rent and/or any other charge or all of payment herein reserved, included, or agreed to be treated or collected as rent and/or any other charge, expense, or cost herein agreed to be paid by the Leases with respect to any or all items of Equipment subject theretoLessee; or (b) Lessor may recover from Lessee all Rent and other amounts then due and Violates or fails to become due under perform or otherwise breaks any covenant or all of the Leasesagreement herein contained; or (c) Lessor may take possession Vacates the demised premises or removes or attempts to remove or manifests an intention to remove any goods or property therefrom otherwise than in the ordinary and usual course of any or all items of Equipment, wherever business without having first paid and satisfied the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; full for all rent and (e) Lessor other charges then due or that may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at thereafter become due until the expiration of the term then current term, above mentioned; or (d) Becomes embarrassed or insolvent, or makes an assignment for the benefit of creditors, or if a petition in bankruptcy is filed by or against the Lessee, or a xxxx in equity or other proceeding for the appointment of a receiver for the Lessee is filed, or if proceedings for reorganization or for composition with creditors under any State or Federal law be instituted by or against Lessee, or if the real or personal property of the applicable LeaseLessee shall be levied upon or be sold, or if for any other reason Lessor shall, in good faith believe that Lessee's ability to comply with the case covenants of a salethis lease, including the prompt payment of rent hereunder, is or may become impaired, thereupon: (1) The whole balance of rent and other charges, payments, costs, and expenses herein agreed to be paid by Lessee, or any part thereof, and also all costs and officers' commissions including watchmen's wages shall be taken to be due and payable and in arrears as if by the terms and provisions of this lease said balance of rent and other charges, payments, taxes, costs and expenses were on that date, payable in advance. Further, provisions of this lease or any part thereof is assigned, or if the premises, or any part thereof is sub-let, Lessee hereby irrevocably constitutes and appoints Lessor as agent to collect the rents due for from such assignee or sub-lessee and apply the same to the rent due hereunder without in any period beyond way affecting Lessee's obligation to pay any unpaid balance of rent due hereunder; or (2) At the scheduled expiration option of such Leasethe Lessor, in this lease and the case terms hereby created shall determine and become absolutely void without any right on part of the Lessee to reinstate this Lease by payment of any subsequent lease sum due or by other performance of any condition, term, or covenant broken upon Lessor shall be entitled to recover damages for such itembreach in an amount equal to the amount of rent reserved for the balance of this lease, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards less the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each fair market rental value of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or said demised premises for the remainder of the lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipmentterm.

Appears in 1 contract

Samples: Lease Agreement (Strategic Diagnostics Inc/De/)

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REMEDIES OF LESSOR. At any time after Upon the occurrence of any Event of DefaultDefault and at any time thereafter, Lessor may Lessxx X xhall have no further obligations under the Commitment, and (ii) may, without any further notice, exercise one or more of the following remedies: remedies as Lessor in its sole discretion shall elect: (a) Lessor may terminate any or Declare all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all unpaid Rent and other amounts then sums due and or to become due under any or this Lease to be immediately due and payable; (b) Terminate this Lease, whereupon all rights of Lessee to the use of the LeasesEquipment shall absolutely cease and terminate but Lessee shall remain liable as herein provided; (c) and thereupon Lessee will permit Lessor may take possession of any to store the Equipment on Lessee's premises or all items of Equipment, wherever the same Equipment may then be located, without demand charge, until sold or noticeotherwise disposed of and, if so requested by Lessor, shall at the expense of Lessee, promptly deliver possession of the Equipment to Lessor at such place as Lessor shall designate in the manner provided in Section 18 hereof; (c) Take possession of the Equipment wherever found, and for this purpose enter upon any premises of Lessee without any court order or other process a breach of law the peace and remove the Equipment all without liability to Lessee on the part of Lessor for any damages occasioned or by reason of such entry or taking of possession, and any whether for the restoration of damage to property caused by such taking or otherwise except for damages caused by Lessors gross negligence or willful misconduct. Taking possession of possession the Equipment shall not constitute a termination of any Lease; be construed to be an election to terminate this Lease and this Lease shall remain in effect and Lessee shall remain liable for all payments to be made hereunder; (d) Sell the Equipment at public or private sale, in such commercially reasonable manner as Lessor may demand that deem appropriate (giving Lessee return any or all items at least ten (10) days' prior written notice of Equipment to Lessor in accordance with Paragraph 16; the time and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return place of any item of such public sale, or the time after which a private sale may be made, which notice Lessee hereby agrees is reasonable), or otherwise dispose of, hold, 'se, operate or keep idle the Equipment, all as Lessor, in its sole discretion, may determine and all free and clear of any rights of Lessee and without any duty to account to Lessee (except as hereinafter provided) for such action or inaction or for any proceeds resulting therefrom. Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value proceeds of any sale minus all costs and expenses incurred with the recovery, repair, storage, sale) of any such sale to the payment of Lessxx'x xbligations hereunder, Lessee remaining liable for any deficiency, which at Lessor's option, shall be paid monthly, as suffered, or immediately in a lump sum, or at the end of the term, as damages for Lessee's default; (e) By written notice to Lessee, cause Lessee to pay Lessor (as liquidated damages for loss of a bargain and not as a penalty) on the date specified in such notice, an amount equal to the sum of: (A) any unpaid Rent that accrued on or before the occurrence of the Event of Default, and (B) the Stipulated Loss Value of such item Equipment, as of the date of occurrence of the Event of Default, as set forth on any Schedule B attached to the Lease Schedule pertaining to such Equipment. If Lessor proceeds pursuant to this subsection (e), Lessor hereby appoints Lessee its agent to dispose of the Equipment at the expiration best price obtainable on an "as-is," "where is" basis, without representation or warranty, express or implied. If Lessxx xxx previously paid the amount of liquidated damages specified above to Lessor, Lessee shall be entitled to the proceeds of such sale of the term Equipment to the extent they do not exceed the liquidated damages amounts and shall pay any excess to Lessor; or (f) Avail itself of the applicable Leaseany other remedy provided by any statute or otherwise available at law, in the case of a sale, equity or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred bankruptcy. No remedy referred to in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds this Section is intended to be retained by Lessor. Each of the remedies under this Lease exclusive, but each shall be cumulative, and not exclusive, cumulative and in addition to any other remedy referred to herein above or otherwise available to Lessor at law, in law equity or in equity. Any repossession bankruptcy, and the exercise or subsequent sale or lease beginning of exercise by Lessor of any item one or more of Equipment such remedies shall not bar an action for a deficiency as herein provided, and preclude the bringing simultaneous or later exercise by Lessor of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items such other remedies. No waiver by Lessor of Equipmentany Event of Default hereunder shall in any way be or be construed to be a waiver of any future or subsequent Event of Default. Lessee shall be liable for all costs and expenses (including reasonable attorneys' fees and disbursements and the costs of any retaking) incurred by reason of the occurrence of any Event of Default and the exercise of Lessxx'x xemedies with respect thereto. To the extent permitted by applicable law, Lessee hereby waives any rights now or hereafter conferred by statute or otherwise which may require Lessor to sell, lease or otherwise use any Equipment in mitigation of Lessor's damages as set forth in this Section or which may otherwise limit or modify any of Lessor's rights or remedies under this Section.

Appears in 1 contract

Samples: Master Equipment Lease Agreement (Brocade Communications Systems Inc)

REMEDIES OF LESSOR. At any time after If the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: Lessee (a) Lessor may terminate Does not pay in full when due any and all installments of Rent and/or any other charge or all of payment herein reserved, included, or agreed to be treated or collected as Rent and/or any other charge, expense, or cost herein agreed to be paid by the Leases with respect to any or all items of Equipment subject theretoLessee; or (b) Violates or fails to perform or otherwise breaks any covenant or agreement herein contained; or (c) Vacates the Demised Premises or removes or attempts to remove or manifests an intention to remove any goods or property therefrom otherwise than in the ordinary and usual course of business without having first paid and satisfied the Lessor may recover from Lessee in full for all Rent and other amounts charges then due and to or that may thereafter become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at until the expiration of the term then current Term, above mentioned; or (d) Becomes insolvent, or makes an assignment for the benefit of creditors, or if a petition in bankruptcy is filed by or against Lessee or a complaint in equity or other proceedings for the appointment of a receiver for Lessee is filed, or if proceedings for reorganization or for composition with creditors under any State or Federal law be instituted by or against Lessee, or if the real or personal property of Lessee shall be levied upon or be sold, or if for any other reason Lessor shall, in good faith, believe that Lessee’s ability to comply with the covenants of this Lease, including the prompt payment of Rent hereunder, is or may become impaired; or (e) If Lessee fails more than twice within any twelve (12) month period to observe or perform any covenant condition, or agreement of this Lease (including without limitation the payment of Rent), regardless of whether such default shall be cured by Lessee, the third default shall at the election of Lessor, in its sole and absolute discretion, be deemed a non-curable event of Default. (f) The death of Lessee or any guarantor of Lessee’s obligations; or the commencement of steps or proceedings toward the dissolution, winding up, or other termination of the applicable Leaseexistence of Lessee or of any guarantor of Lessee’s obligations. (Sections 16(a) through 16(f) being collectively referred to herein as a “Default”) thereupon: (1) The whole balance of Rent and other charges, in the case of a salepayments, costs, and expenses herein agreed to be paid by Lessee, or any part thereof, and also all costs and officer’s commissions including watchmen’s wages shall be taken to be due and payable and in arrears as if by the terms and provisions of this Lease said balance of Rent and other charges, payment, taxes, costs and expenses were on that date, payable in advance. Further, if this Lease or any part thereof is assigned, or if the Demised Premises, or any part thereof is sub-let, Lessee hereby irrevocably constitutes and appoints Lessor as Lessee’s agent to collect the rents due from such assignee or sub-lessee and apply the same to the Rent due hereunder without in any way affecting Lessee’s obligation to pay any unpaid balance of Rent due hereunder; or (2) At the option of Lessor, this Lease and the terms hereby created shall terminate and become absolutely void without any right on the part of Lessee to reinstate this Lease by payment of any sum due or by other performance of any condition, term, or covenant broken; whereupon, Lessor shall be entitled to recover damages for any period beyond such breach in an amount equal to the scheduled expiration amount of such Rent reserved for the balance of the Term of this Lease, in less the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each fair rental value of the remedies under this said Demised Premises for the remainder of the Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of EquipmentTerm.

Appears in 1 contract

Samples: Lease Agreement (Nocopi Technologies Inc/Md/)

REMEDIES OF LESSOR. At any time after Upon the occurrence of any Event of DefaultDefault ------------------ by Lessee as provided in Section 15.1, Lessor shall have the immediate right to re-enter and may remove all persons and property from the Premises. Whether or not Lessor elects to re-enter, as herein provided, or take possession pursuant to legal proceedings or pursuant to any notice provided by law, Lessor may (i) at its option terminate this Lease by giving written notice to Lessee specifying a date on which this Lease shall terminate, and upon such date, this Lease shall terminate, and/or (ii) from time to time, without terminating this Lease, relet the Premises or any part thereof for such term or terms (which may be for a term extending beyond the term of this Lease) and at such rental or rentals and upon such other terms and conditions as Lessor in the exercise one of its sole discretion may deem advisable, with the right to make alterations and repairs to the Premises as necessary in order to so relet the Premises. Lessor may from time to time, without terminating this Lease, enforce all of its rights and remedies under this Lease or more available to Lessor at law or in equity. Nothing contained in this Lease shall be deemed a limitation upon any remedies available to lessor. Lessor shall use reasonable, good faith efforts to mitigate its damages upon the occurrence of an Event of Default. The proceeds of any re-letting shall be applied first to pay Lessor all costs and expenses of such re-letting (including without limitation costs and expenses of retaking or repossessing the Premises, removing persons and property therefrom, securing new tenants, including expenses for redecoration, alterations and other costs in connection with preparing the Premises for the new tenant) and receivers' fees incurred in connection with the appointment of and performance by a receiver to protect the Premises and Lessor's interest under this Lease and any necessary or reasonable alterations; second, to the payment of any indebtedness of Lessee to Lessor other than Rent due and unpaid hereunder; third, to the payment of Rent due and unpaid hereunder; and the residue, if any, shall be held by Lessor and applied in payment of other or future obligations of Lessee to Lessor as the same may become due and payable, and Lessee shall not be entitled to receive any portion of such revenue. Upon the occurrence of any Event of Default and termination, re-entry, expiration and/or dispossession by summary proceedings or otherwise, (1) all Rent up to the date of such occurrence shall become due thereupon and be paid up to the time of such re-entry, dispossession and/or expiration; and/or (2) Lessee shall also pay Lessor as liquidated damages for the failure of Lessee to observe and perform Lessee'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 following remedies: (a) Lessor may terminate any or all rents collected on account of the Leases with respect lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the term of this Lease. The failure of Lessor to re-let the Premises or any part or all items of Equipment subject thereto; (b) Lessor may recover from parts thereof shall not release or affect Lessee's liability for damages and in any event, Lessee shall remain liable for all Rent and other amounts then due and to which become due under any before or all after the Event of Default, even if Lessor retakes possession of the Leases; (c) Premises. In computing such liquidated damages there shall be added to such deficiency such reasonable expenses as Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by incur in connection with re-letting such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all as legal expenses, including, without limitation, reasonable attorneys' fees, incurred brokerage and for keeping the Premises in connection therewith) towards good order. Any suit brought to collect the Rent and other amounts due amount of the deficiency for any month shall not prejudice in any way the rights of Lessor to collect the deficiency for any subsequent month by a similar proceeding. Lessor shall in no event be liable in any way whatsoever for failure to re-let the Premises, or in the event the Premises are re-let, for failure to collect the rent under such Lease, with any excess net proceeds to be retained by Lessorre-letting. Each of the remedies under Mention in this Lease of any particular remedy shall be cumulative, and not exclusive, and in addition to preclude Lessor from any other remedy referred to herein or otherwise available to Lessor remedy, in law or in equity. Any repossession Lessee hereby expressly waives any and all rights of redemption granted by or subsequent sale under any laws in effect as of the Commencement Date or lease thereafter in the event of Lessor obtaining possession of the Premises, by reason of the violation by Lessee of any of the covenants and conditions of this Lease, or otherwise. If Lessee shall fail to make any payment or perform any act required to be made or performed under this Lease, Lessor, without waiving or releasing any obligation or default, may (but shall not be obligated to) at any time, and upon reasonable notice to Lessee, make the payment or perform the act for the account and at the expense of Lessee, and may enter upon the Leased Premises for that purpose and take all actions as may be necessary to correct Lessee's breach. No such entry shall be deemed an eviction of Lessee. All sums so paid by Lessor and all costs and expenses (including, but not limited to, reasonable attorney's fees and expenses) so incurred, together with interest at the rate of any item 18% per annum from the date of Equipment payment, shall not bar an action for a deficiency as herein provided, constitute additional rent and the bringing of an action or the entry of judgment against shall be payable by Lessee shall not bar Lessor's right to repossess any or all items of EquipmentLessor on demand.

Appears in 1 contract

Samples: Lease Agreement (Sight Resource Corp)

REMEDIES OF LESSOR. At any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or all of the Leases with respect to any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment.

Appears in 1 contract

Samples: Master Lease Agreement (Telecom Wireless Corp/Co)

REMEDIES OF LESSOR. At any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: If Lessee: (a) Lessor may terminate Does not pay in full when due any and all installments of rent and/or any other charge or all payment herein reserved, included, or agreed to be treated or collected as rent and/or any other charge, expense, or cost herein agreed to be paid by Lessee, after notice and a cure period of the Leases with respect to any five (5) days; or all items of Equipment subject thereto; (b) Violates or fails to perform or otherwise breaks any covenant or agreement herein contained where such violation or failure continues for fifteen (15) days after written notice thereof from Lessor may recover from to Lessee all Rent and other amounts then due and to become due under any or all provided, however, that if the nature of the Leasesviolation or failure is such that the same cannot reasonable be cured within such fifteen (15) days period, Lessee shall not be deemed in default if Lessee shall within such period commence such cure and thereafter diligently prosecute the same to completion; or (c) Lessor may take possession Becomes insolvent, or makes an assignment for the benefit of creditors, or if a petition in bankruptcy is filed by or against Lessee, or a bxxx in equity or other proceeding for the appointment of a receiver for Lessee is filed, or if proceedings for reorganization or for compo- sition with creditors under any State or Federal law be instituted by or against Lessee, or if the real or personal property of Lessee shall be sold or levied upon by any Sheriff, Mxxxxxxx or Constable; then and in any or all items either of Equipmentsaid events set forth in this Paragraph 14, wherever there shall be deemed to be a breach of this Lease, and thereupon ipso facto and without entry or other action by Lessor, provided, however, that if any such action is commenced against Lessee the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination default if Lessee causes the same to be stayed or dismissed within sixty (60) days after the filing of any same. (1) Without terminating this Lease; (d) , Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of declare the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply rent for the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration entire unexpired balance of the term of the applicable this Lease, in including any option terms as to which notice has been provided by Lessee, as well as all other charges, payments, costs and expenses herein agreed to be paid by the case of a saleLessee, or at the rents due for option of Lessor any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such itempart thereof, and also all expensescosts and officer's commissions including watchmen's wages and further including the five percent chargeable by Act of Assembly to Lessor, includingshall, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any and all installments of rent already due and payable and in arrears and/or any other remedy referred charge of payment herein reserved, included or agreed to be treated or collected as rent, and/or any other charge, expense or cost herein agreed to be paid by Lessee which may be due and payable and in arrears, be taken to be due and payable and in arrears as if by the terms and provisions of this Lease, the whole balance of unpaid rent and other charges, payments, taxes, costs and expenses were on that date payable in advance; and if this Lease or otherwise available any part thereof is assigned, or if the Premises or any part thereof is sublet, Lessee hereby irrevocably constitutes and appoints Lessor Lessee's agent to collect the rents due by such assignee or sublessee and apply the same to the rent due here- under without in any way affecting Lessee's obligation to pay any unpaid balance of rent due hereunder; or (2) Lessor may serve notice upon Lessee that this Lease and the term hereby created, including all option terms hereunder, shall terminate and become absolutely void as of the date specified in law or in equity. Any repossession or subsequent sale or lease the notice, to be not less than five (5) days after delivery of the notice to Lessee, without any right on the part of Lessee to save the forfeiture by Lessor payment of any item sum due or by other performance of Equipment any condition, term or covenant broken; whereupon, Lessor shall not bar be entitled to recover damages for such breach in an action amount equal to the amount of rent reserved for a deficiency the balance of the term of this Lease including any option terms as herein provided, and the bringing of an action or the entry of judgment against to which Lessee shall not bar Lessor's right to repossess any or all items of Equipmenthas provided notice.

Appears in 1 contract

Samples: Lease Agreement (Biosonics Inc)

REMEDIES OF LESSOR. At any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein providedpovided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment.

Appears in 1 contract

Samples: Master Lease Agreement (Consumer Net Marketplace Inc)

REMEDIES OF LESSOR. At Upon any time after the occurrence event of any Event of Defaultdefault, Lessor may exercise may, at Lessor's option and in addition to all other rights, remedies and recourses afforded Lessor hereunder or by law or equity, do any one or more of the following remedies: following: (a) Terminate this lease by the giving of written notice to Xxxxxx, in which event Lessee shall pay to Lessor may terminate any or upon demand the sum of (i) all rent and other amounts accrued hereunder to the date of termination, and (ii) damages in an amount equal to (A) the total rent that Lessee would have been required to pay for the remainder of the Leases with respect term discounted to any or all items of Equipment subject thereto; present value at a discount rate reasonably designated by Lessor minus (b) Terminate Lessee's right to possession of the leased premises without terminating this lease by the giving of written notice to Xxxxxx, in which event Lessee shall pay to Lessor may recover from Lessee upon demand (i) all Rent rent and other amounts then due and accrued hereunder to become due under any or all the date of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking termination of possession, and (ii) all rent and other sums required hereunder to be paid by Xxxxxx during the remainder of the term, minus any such taking amounts received by Lessor through reletting the leased premises during said period, if applicable, and in which case the Lease shall terminate. Reentry by Lessor in the Leased Premises will not affect the obligations of possession Lessee hereunder for the unexpired term. Lessor may bring action against Lessee to collect amounts due by Lessee on one or more occasions, without the necessity of Lessor’s waiting until expiration of the term. Lessor shall have the right, but not the obligation, at its sole election (but not as its exclusive remedy), to perform or observe the covenants, agreements, or obligations which are asserted to have not been performed or observed at the expense of Lessee and to recover all costs or expenses incurred in connection with the same. Any performance or observance by Lessor pursuant to this Section shall not constitute a termination waiver of Xxxxxx’s Default (c) Alter or remove any Lease; (d) Lessor may demand that Lessee return any or and all items of Equipment to Lessor in accordance with Paragraph 16; locks and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item security devices at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipmentleased premises.

Appears in 1 contract

Samples: Boat Stall Lease Agreement

REMEDIES OF LESSOR. At any time after If the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: Lessee (a) Lessor may terminate Does not pay in full when due any and all installments of rent and/or any other charge or all of payment herein reserved, included, or agreed to be treated or collected as rent and/or any other charge, expense or cost herein agreed to be paid by the Leases with respect to any or all items of Equipment subject thereto; Lessee or (b) Lessor may recover from Lessee all Rent and other amounts then due and Violates or fails to become due under perform or otherwise breaks any covenant or all of the Leasesagreement herein contained; or (c) Lessor may take possession Vacates the demised premises or removes or attempts to removed or manifests an intention to removed any goods or property therefrom otherwise than in the ordinary and usual course of any or all items of Equipment, wherever business without having first paid and satisfied the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; full for all rent and (e) Lessor other charges then due or that may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at thereafter become due until the expiration of the term then current term, above mentioned; or (d) Becomes embarrassed or insolvent, or makes an assignment for the benefit of creditors, or if a petition in bankruptcy is filed by or against the Lessee, or a bxxx in equity or other proceeding for the appointment of a receiver for the Lessee is filer, or if proceedings for reorganization or for composition with creditors under any State or Federal law be instituted by or against Lessee, or if the real or personal property of the applicable LeaseLessee shall be sold or levied upon by any Sheriff, Mxxxxxxx or Constable; then, and in any of said events, there shall be deemed to be a breach of this lease, and thereupon ipso facto and without entry or other actions by Lessor and with only written notice to the case Lessee; (1) The Lessee shall pay a fee of a saleeighty thousand dollars ($80,000) as well as all other charges, payments, costs, and expenses herein agreed to be paid by the Lessee, or at the rents due for option of Lessor any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such itempart thereof, and also all expensescosts and officers' commissions including watchmen's wages and further including the five percent chargeable by Act of Assembly to the Lessor, includingshall, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any and all installments of rent already due and payable and in arrears and/or any other remedy referred charge or payment herein reserved, included or agreed to herein be treated or otherwise available paid by the Lessee which may be due and payable and in arrears, be taken to be due and payable and in arrears as if by the terms and provisions of this Lease, the balance of unpaid rent but in no event over $80,000 and other charges, payments, taxes, costs and expenses were on that date payable in advance; and if this Lease or any part thereof is assigned, or if the premises or any part thereof is sub-let, Lessee hereby irrevocably constitutes and appoints Lessor Lessee's agent to collect the rents due by such assignee or sub-lessee and apply the same to the rent due hereunder without in law or in equity. Any repossession or subsequent sale or lease by Lessor any way affecting Lessee's obligation to pay any unpaid balance of any item of Equipment shall not bar an action for a deficiency as herein provided, rent due hereunder; (2) This Lease and the bringing term hereby created shall dete ne and become absolutely void unless cured within forty five (45) days of said breech by full payment of total past due amount. Lessor shall be entitled to recover damages for such breach in an action or amount equal to the entry amount of judgment against Lessee shall not bar Lessor's right to repossess rent reserved for the balance of the term of this lease but in no event over $80,000 plus any or all items of Equipmentother money due and owed.

Appears in 1 contract

Samples: Lease Agreement (Thatlook Com Inc/Nv)

REMEDIES OF LESSOR. At any time after If the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: Lessee: (a) Does not pay in full when due any and all installments of rent and/or any other charge or payment herein reserved, included, or agreed to be treated or collected as rent and/or any other charge, expense, or cost herein agreed to be paid by the Lessee. Lessor may terminate shall notify Lessee in writing outlining default complained of and Lessee shall be given a delay of five (5) business days to remedy any or monetary default, and a delay of thirty (30) days to remedy non-monetary defaults. If a default which is non-monetary is not susceptible of being remedied within thirty (30) days, then if Lessee has taken all of necessary steps to remedy the Leases with respect default, that should be sufficient if the default is thereafter remedied in a reasonable time. Lessee shall be granted sufficient time to contest any or third party action provided in all items of Equipment subject thereto; instances that the Lessee is continuing to pay all rent and additional rent that is due. (b) Lessor may recover from Lessee all Rent and other amounts then due and Violates or fails to become due under perform or otherwise breaks any covenant or all of the Leasesagreement herein contained; or (c) Lessor may take possession Vacates the demised premises or removes or attempts to remove or manifests an intention to remove any goods or property therefrom otherwise than in the ordinary and usual course of any or all items of Equipment, wherever business without having first paid and satisfied the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; full for all rent and (e) Lessor other charges then due or that may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at thereafter become due until the expiration of the term then current term, above mentioned; or (d) Becomes embarrassed or insolvent, or makes an assignment for the benefit of creditors, or if a petition in bankruptcy is filed by or against Lessee or a complaint in equity or other proceedings for the applicable Leaseappointment of a receiver for Lessee is filed, or if proceedings for reorganization or for composition with creditors under any State or Federal law be instituted by or against Lessee, or if the real or personal property of Lessee shall be levied upon or be sold, or for any other reason Lessor shall, in good faith, believe that Lessee's ability to comply with the case covenants of a salethis lease including the prompt payment of rent hereunder, is or may become impaired. thereupon: (1) The whole balance of rent and other charges, payments, costs, and expenses herein agreed to be paid by Lessee, or any part thereof, and also all costs and officers' commissions including watchmen's wages shall be taken to be due and payable and in arrears as if by the terms and provisions of this lease said balance of rent and other charges, payment, taxes, costs and expenses were on that date, payable in advance. Further, if this lease or any part thereof is assigned, or if the premises, or any part thereof is sub-let, Lessee hereby irrevocably constitutes and appoints Lessor as Lessee's agent to collect the rents due for from such assignee or sub'lessee and apply the same to the rent due hereunder without in any period beyond way affecting Lessee's obligation to pay any unpaid balance of rent due hereunder; or (2) At the scheduled expiration option of such LeaseLessor, in this lease and the case terms hereby created shall determine and become absolutely void without any right on the part of Lessee to reinstate this lease by payment of any subsequent lease sum due or by other performance of any condition, terms, or covenant broken; whereupon, Lessor shall be entitled to recover damages for such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred breach in connection therewith) towards an amount equal to the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each amount of rent reserved for the balance of the remedies under term of this Lease shall be cumulativelease, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or less the fair rental value of the said demised premises for the remainder of the lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipmentterm.

Appears in 1 contract

Samples: Lease Agreement (Nocopi Technologies Inc/Md/)

REMEDIES OF LESSOR. At any time after If the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: Lessee (a) Lessor may terminate Does not pay in full when due any and all installments of rent and/or any other charge or all of payment herein reserved, included, or agreed to be treated or collected, as rent and/or any other charge, expense, or cost herein agreed to be paid by the Leases with respect to any or all items of Equipment subject theretoLessee; or (b) Lessor may recover from Lessee all Rent and other amounts then due and Violates or fails to become due under perform or otherwise breaks any covenant or all of the Leasesagreement herein contained; or (c) Lessor may take possession of any or all items of EquipmentPrior to giving thirty (30) days written notice to Lessor, wherever vacates the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Leasedemised premises; or (d) Lessor may demand that Becomes insolvent, or makes an assignment for the benefit of creditors, or if a petition in bankruptcy is filed by or against the Lessee return or a xxxx in equity or other proceeding for the appointment of a receiver for the Lessee is filed, or if proceedings for reorganization or for composition with creditors under any State or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at Federal law is instituted by or in equityagainst Lessee, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession if the real or return of any item personal property of the EquipmentLessee shall be sold or levied upon by any Sheriff, Lessor Marshal or Constable; Then and in such an event if the default or failure to perform by Lessee shall sellcontinue for more than two (2) working days following Lessee's receipt of a written notice of default from Lessor, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the: (1) The rent for the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration entire unexpired balance of the term of the applicable this Lease, in as well as all other charges, payments, costs and expenses herein agreed to be paid by the case of a saleLessee, or at the rents due for option of Lessor any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such itempart thereof, and also all expensescosts shall, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any and all installments of rent already due and payable and in arrears and/or any other remedy referred charge or payment herein reserved, included or agreed to be treated or collected as rent, and/or any other charge, expense or cost herein agreed to be paid by the Lessee which may be due and payable and in arrears, become due and payable and in arrears as if by the terms and provisions of this Lease, the whole balance of unpaid rent and other charges, payments, taxes, costs and expenses were on the date payable in advance; and if this Lease or otherwise available any part thereof is assigned, or if the premises or any part thereof is sub-let, Lessee hereby irrevocably constitutes and appoints Lessor as Lessee's agent to Lessor collect the rents due by such assignee or sub-lessee and apply the same to the rent due hereunder without in law any way affecting Lessee's obligation to pay any unpaid balance of rent due hereunder; or in equity. Any repossession or subsequent sale or lease by Lessor the event of any item of Equipment shall not bar an action for a deficiency as herein provided, the foregoing at any time at the option of Lessor; (2) This Lease and the bringing terms hereby created shall terminate and become absolutely void without any right on the part of the Lessee to save the forfeiture by payment of any sum due or by other performance of any condition, term or covenant broken; whereupon, Lessor shall be entitled to recover damages for such breach in an action or amount equal to the entry amount of judgment against Lessee shall not bar Lessor's right to repossess any or all items rent reserved for the balance of Equipmentthe term of this Lease less the fair rental value actually received by Owner of the said demised premises, for the residue of said term.

Appears in 1 contract

Samples: Lease Agreement (Learningstar Inc)

REMEDIES OF LESSOR. At 21.01 In the event Lessee breaches this Lease, Lessor shall have the following rights and remedies, each of which shall be cumulative and shall be in addition and without prejudice to every other right or remedy given hereunder or now or hereafter existing at law, in equity or by statute, and all of which may be exercised concurrently, alternatively or successively: A. The right to enforce specific performance; B. The right to receive and recover damages resulting from such breach or default; C. Without curing the breach or default, the right to perform any act and/or make any payment in which Lessee is in default, in which event all expenses, costs, losses, damages and fees (including without limitation attorneys’ fees) suffered or incurred in so doing shall immediately constitute indebtedness due and owing from Lessee; D. The right to terminate this Lease by written notice to Lessee, such termination to be without prejudice to the right to collect damages for previously existing defaults, the rental loss for the unexpired term and any other loss, cost or expense incurred by Lessor; E. With or without terminating this Lease, the right to immediately re-enter the Premises and the right, at the option of Lessor upon such re-entry, to remove all persons and property therefrom, without any liability for damages sustained by reason of such removal. Such property may be removed and stored in a public warehouse or elsewhere at the cost of and for the account of Lessee; F. Without terminating this Lease, the right to relet the Premises or any part thereof for such term or terms (which may be for a term extending beyond the term of this Lease) and at such rental and upon such terms and conditions as Lessor, in its discretion, may deem advisable, with the right to make alterations or repairs. Upon such reletting, the rents received by Lessor from such reletting shall be applied first to the payment of any indebtedness other than rent due hereunder; second, to the payment of any costs and expenses of such reletting, and of such alterations and repairs; third, to the payment of rent due and unpaid hereunder; and the residue if any, shall be held by Lessor and applied in payment of future rent as the same may become due and payable hereunder. If the rents received from such reletting during any month are less than that to be paid during that month by Lessee hereunder, Lessee shall pay any such deficiency to Lessor. Such deficiency shall be calculated and paid monthly. Notwithstanding any such reletting without termination, Landlord may, at any time after thereafter, elect to terminate this Lease for such previous default; and G. The right to obtain the occurrence appointment of a receiver in any Event court of Defaultcompetent jurisdiction, Lessor may exercise one or more of and the following remedies: (a) Lessor may terminate any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor receiver may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, Premises and any such taking personal property belonging to the Lessee and used in the conduct of the business of the Lessee being carried on in the Premises. The entry or possession by said receiver of the Premises and said personal property shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item eviction of the Equipment, Lessor shall sell, lease Lessee from the Premises or otherwise dispose any portion thereof. Neither the application for the appointment of such item in a commercially reasonable mannerreceiver, with or without notice and on public or private bid, and apply nor the net proceeds thereof (after deducting the estimated fair market value appointment of such item at receiver, shall be construed as an election on Lessor’s part to terminate this Lease unless a written notice of such intention is given to Lessee. 21.02 No act or conduct of the Lessor, whether consisting of the acceptance of the keys to the property or otherwise, shall be deemed to be or constitute an acceptance by Lessor of the surrender of the Premises by Lessee prior to the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such itemhereof, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease acceptance by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against surrender by Lessee shall not bar only result from and must be evidenced by written acknowledgement of acceptance of surrender signed by Lessor's right to repossess any or all items of Equipment.

Appears in 1 contract

Samples: Triple Net Lease (Insys Therapeutics, Inc.)

REMEDIES OF LESSOR. At any time after the occurrence of 1) If any Event of DefaultDefault occurs, the Lessor may exercise one or more shall have the right, at the option of the following remedies: Lessor, to terminate this Lease upon three (a3) Lessor may terminate any or all of the Leases with respect days written notice to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due Lessee, and to become due under any or all of the Leases; (c) Lessor may thereupon re-enter and take possession of any the Premises with or all items of Equipment, wherever the same may be located, without demand or notice, without any court order summary or other process legal process. If any Event of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the EquipmentDefault occurs, Lessor shall sellhave the right, lease at its option, from time to time, without terminating the Lease, to re-enter and re-let the Premises, or otherwise dispose of such item in a commercially reasonable mannerany part thereof, with or without notice legal process, as the agent and for the account of Lessee upon such terms and conditions as Lessor may deem advisable or satisfactory, in which event the rents received on public or private bid, and apply such re- letting shall be applied first to the net proceeds thereof (after deducting the estimated fair market value expenses of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, re-letting and all expenses, collection including, without limitationbut not limited to, necessary renovation and alterations to the Premises, reasonable attorneys' fees, incurred in connection therewith) towards any real estate commissions paid, and thereafter toward payment of all sums due or to become due to the Rent Lessor hereunder, and if a sufficient sum shall not be thus realized or secured to pay such sums and other amounts due under charges, (i) at Lessor's option, Lessee shall pay Lessor any deficiency monthly, notwithstanding Lessor may have received rental in excess of the rental stipulated in this Lease in previous or subsequent months, and Lessor may bring an action therefor as such monthly deficiency shall arise, or (ii) at Lessor's option, the entire deficiency, which is subject to ascertainment for the remaining term of this Lease, with shall be immediately due and payable to Lessor. Nothing herein, however, shall be construed to require Lessor to re-enter or re-let the Premises or any portion thereof in any event. The Lessor shall not, in any event, be required to pay Lessee any surplus of any sums received by Lessor on a re-letting of said Premises in excess net proceeds of the rent provided in this Lease. 2) If any Event of Default occurs, the Lessor shall have the right, at its option, to be retained declare all rent (or any portion thereof) for the entire remaining terms, and other indebtedness owing by Lessee to Lessor, if any, immediately due and payable without regard to whether possession of the Premises shall have been surrendered to or taken by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusivemay commence action immediately thereupon and obtain a judgment therefor. 3) If any Event of Default occurs, and the Lessor, in addition to other rights and remedies it may have, shall have the right to remove all or any part of the Lessee's property from the Premises and any property removed may be stored in any public warehouse or elsewhere at the cost of, and for the account of Lessee and the Lessor shall not be responsible for the care or safekeeping thereof whether in transport, storage or otherwise, and the Lessee hereby waives any and all claims against Lessor for loss, destruction and/or damage or injury which may be occasioned by any of the aforesaid acts. 4) No such re-entry or taking possession of the Premises by Lessor shall be construed as an election on Lessor's part to terminate this Lease unless a written notice of such intention is given to Lessee. Notwithstanding any such re-letting without termination, Lessor may at all times thereafter elect to terminate this Lease for such previous default. Any such re-entry shall be allowed by Lessee without hindrance, and Lessor shall not be liable for damages for any such re-entry, or guilty of trespass or forcible entry. 5) In the event of a breach or threatened breach by Lessee of any of the covenants or provisions hereof, Lessor shall have the right of injunction and the right to invoke any remedy allowed at law or in equity as if re-entry, summary proceedings and other remedies were not herein provided for. Mention in this Lease of any particular remedy shall not preclude Lessor from any other remedy referred to herein or otherwise available to Lessor remedy, in law or in equity. Any repossession Lessee hereby expressly waives any and all rights of redemption granted by or subsequent sale under any present or lease future laws in the event of Lessee being evicted or dispossessed for any cause, or in the event of Lessor obtaining possession of Premises by Lessor reason of the violation by Lessee of any item of Equipment the covenants and conditions of this Lease, or otherwise. 6) If any Event of Default occurs, the Lessor shall not bar an action for a deficiency as herein provided, and have the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess apply and/or retain all or any portion of the Deposit paid by Lessee hereunder against any or all items reasonable loss, cost, expenses or damage sustained or incurred by Lessor as a result thereof, as specified in Section 9 this Lease. 7) Notwithstanding any other provision hereof, Lessee shall indemnify, reimburse and hold harmless the Lessor from any and all reasonable costs, expenses, charges and fees, including without limitation reasonable attorneys' fees, incurred or expended by Lessor as a result of Equipmentthe default by Lessee of any term, condition, or covenant of this Lease or any rule or regulation promulgated pursuant hereto; or as a result of Lessor's defense of any right or lien held by Lessor under this Lease or provided by law, whether or not suit shall actually be brought. All costs, expenses, charges and fees shall be deemed Additional Rent and shall be payable by Lessee upon demand of Lessor. All sums, Rent and Additional Rent payable under this Lease, including without limitation the sums due under this section, shall bear interest from the date payment is due, and whether before or after judgment, at a rate of interest equal to 12% per annum notwithstanding any lower rate of interest specified in Florida Statutes, Chapter 55.03 or any other Chapter of the Florida Statutes.

Appears in 1 contract

Samples: Lease Agreement (Top Source Technologies Inc)

REMEDIES OF LESSOR. At any time after Upon the occurrence and continuance beyond any applicable cure period of any Event of Defaultthe Events of Default of Lessee specified in this Agreement, Lessor shall have the option to pursue any one or more or a combination of the following remedies without any notice to or demand upon Lessee whatsoever: (i) Terminate this Lease, in which event Lessee shall immediately surrender the Leased Premises to Lessor, and if Lessee fails to surrender the Leased Premises, Lessor may, without prejudice to any other remedy which Lessor may have, expel or remove Lessee and any other person who may be occupying the Leased Premises, or any part thereof. In such event Lessor may seek such damages and remedies as are available at law or in equity for Lessee’s breach of this Lease. (ii) Enter upon and take possession of the Leased Premises and expel or remove Lessee and any other person who may be occupying the Leased Premises or any part thereof without terminating this Lease, and exercise Lessor’s reasonable efforts to relet the Leased Premises, as Lessee’s agent, and receive the proceeds thereof. Lessee will cooperate with any successor lessee or licensee to transfer operations and Lessee covenants and agrees to pay Lessor on demand any cost or expense incurred by Lessor in connection with reletting the Leased Premises or any deficiency in rent that may arise by reason of such reletting, including, without limitation, brokerage fees, advertising expenses, preparation expenses (including re-decoration of the Leased Premises), reasonable legal expenses, and the cost of performing such of Lessee’s obligations as Lessor determines to be necessary and reasonable. Notwithstanding any election by Lessor to re-take possession of the Leased Premises pursuant to this provision, Lessor may exercise one at any time thereafter, upon written notice to Lessee, terminate this Lease and, in such event, neither Lessor nor Lessee shall have any further rights, obligations or more liabilities hereunder after the date of termination, except to the following remedies: extent that covenants related to environmental indemnities are expressly said to survive termination of this lease. (aiii) Enter upon the Leased Premises and take such actions as may be required to cure the Event of Default of Lessee. Lessee covenants and agrees to reimburse Lessor on demand for any expenses, direct or indirect, which Lessor may terminate incur in thus effecting compliance with Lessee’s obligations under this Lease. (iv) Pursue change of ownership applications and proceedings with regulatory authorities regulating the nursing home license and Medicaid and Medicaid certification. Lessee hereby acknowledges and agrees that it will cooperate with any or all subsequent licensee in preparation of the Leases with respect to any or all items of Equipment subject thereto; a final cost report. (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (ev) Lessor may pursue all of its legal and equitable remedies, including specific performance. Pursuit of any of the foregoing remedies shall not preclude pursuit of any of the other foregoing remedies or any other remedy available remedies herein provided or any other remedies provided at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return nor shall pursuit of any item of the Equipment, Lessor shall sell, lease remedy herein provided constitute a forfeiture or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case waiver of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and or other amounts due under such Lease, with to Lessor hereunder or of any excess net proceeds damages accruing to be retained Lessor by Lessor. Each reason of the remedies under this Lease shall be cumulativeviolation of any of the terms, and not exclusive, and in addition to any other remedy referred to provisions or covenants herein or otherwise available to Lessor in law or in equitycontained. Any repossession or subsequent sale or lease No waiver by Lessor of any item violation or breach of Equipment any of the terms, provisions or covenants herein contained shall not bar be deemed or construed to constitute a waiver of any other violation or breach of any of the terms, provisions, or covenants herein contained. Forbearance by Lessor to enforce one or more of the remedies herein provided upon an action for a deficiency as herein provided, and the bringing Event of an action or the entry Default of judgment against Lessee shall not bar be deemed or construed to constitute a waiver of such default. To the extent any amounts due to Lessor under the terms of this Lease, whether as a result of an Event of Default of Lessee or otherwise, are not timely paid, such amounts shall bear interest at the rate of eighteen percent (18%) per annum from the date such amounts were due until paid to Lessor's ; provided, however, that regardless of whether Section 15(a) provides for notice and cure, such interest shall not commence to accrue until thirty days (30) after the date Lessee receives written notice of unpaid amounts. In the event Lessor takes possession of the Leased Premises and thereafter is unable to make a lease with a new tenant, after attempting in good faith to secure a new tenant, which results in Lessor realizing the benefit of this Lease, including the recoupment of all expenses and costs paid by Lessor, Lessor shall have the right to repossess demand and recover from Lessee the present value of the difference between the amount to be received by Lessor under the new lease and the amount which would have been payable by Lessee hereunder, plus any or all items of Equipmentcosts and expenses due and owing Lessor pursuant to this Section.

Appears in 1 contract

Samples: Lease Agreement (Cornerstone Healthcare Plus Reit, Inc.)

REMEDIES OF LESSOR. At any time after If Lessee shall default in the occurrence payment of the rent reserved herein, or in the payment of any Event item of Defaultadditional rent or other monies, Lessor may exercise due hereunder, or any part of same, or lessee shall default in the observance of any of the other terms, covenants and conditions of this Lease; or if the Demised Premises must be abandoned, deserted or vacated or if Lessee shall sublet the demised Premises or assign this Lease except as herein Provided; or If Lessee shall make an assignment for the benefit of creditors, or file a voluntary petition in bankruptcy or be adjudicated a bankrupt by any court and such adjudication shall not be vacated thirty (30) days or Lessee takes the benefit of any insolvency act, or Lessee be dissolved voluntarily or involuntarily or have a receiver of Lessee's property appointed in any proceedings other than bankruptcy proceedings, and such appointment shall not be vacated within thirty (30) days after it has been made; then, upon the happening of any one or more of the following remedies: (a) defaults events specified above, this lease and the term hereof shall at the option and election of the Lessor wholly cease and terminate, and there upon or at any time thereafter, Lessor may terminate any re-enter said Premises either by force or all otherwise and have possession of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor same and/or may recover possession thereof by summary proceedings otherwise but Lessee shall remain liable to Lessor. If Lessee shall default in the performance or observance of any term or condition in this Lease and shall not cure such default within such 15 day period and thereafter proceed with diligence to complete such cure Lessor may, but shall not be obligated to, cure such default by Lessee under this Lease; and whenever Lessor so elects all costs and expenses incurred by Lessor, including reasonable attorney's fees, incurring a default shall be paid by Lessee to Lessor on demand, together with interest thereon from Lessee all Rent and other amounts then due and the date of payment by lessor to become due under date of payment by lessee. In the event of any one or all more of the Leases; (c) Lessor may take possession defaults set out above, all payments of any or all items of Equipmentrent, wherever additional rent remaining unpaid for the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration balance of the term of this Lease or any extension thereof, shall, at the applicable Leaseoption of Lessor, become immediately due and payable in full. Lessor may re-enter the case of a sale, or the rents due Demised Premises using such force for that purpose as may be necessary without being liable to any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such itemprosecution therefore, and all expenses, including, without limitation, reasonable attorneys' fees, incurred Lessor may repair or alter the Demised Premises in connection therewith) towards such manner as Lessor may seem necessary or advisable to relet the Rent Demised Premises. The Lessor has the right to relet said Premises and other amounts due under such Lease, with to collect any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and deficiency in reletting in addition to any other remedy referred reasonable expenses incurred, however, the Lessee's obligation to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease pay damages must survive the termination of this Lease and the election by Lessor of any item single remedy does not preclude the use of Equipment shall any other remedy whether or not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipmentmentioned in this Lease.

Appears in 1 contract

Samples: Shopping Center Lease (Petsvetsandyou Com Inc)

REMEDIES OF LESSOR. At In the event that the rent or any other amount of money herein agreed to be paid by Lessee shall remain unpaid for a period of ten (l0) days after Lessee's receipt of written notice from Lessor that the same is or was due, or in the event Lessee shall at any time after be in default in the occurrence observance or performance of any Event of Defaultthe other covenants, agreements, terms, provisions, and conditions assumed or imposed on it hereunder for a period of forty-five (45) days after notice to Lessee of such default, then Lessor may shall be entitled, at its election, to exercise concurrently or successively, any one or more of the following rights and remedies: : (a) To pay any sum required to be paid by Lessee under the terms of this Lease to other than Lessor may terminate and to perform any or obligation required to be performed by Lessee under the terms of this Lease for the account of Lessee, and the amount paid by Lessor, with interest thereon at the rate of one and one-half percent (l-l/2%) per month, and all expenses connected therewith shall be repaid by Lessee to Lessor on demand. For this purpose, any receipt of the Leases with respect party to any or all items whom said payment shall have been made shall be conclusive evidence against Lessee that the amount of Equipment subject thereto; such payment was made. (b) Lessor may recover from To charge Lessee all Rent interest at the rate of one and other amounts then due and to become due under any or all one-half percent (l-l/2%) per month on rent remaining unpaid for a period in excess of the Leases; ten (l0) days after it is due. (c) To enjoin any breach or threatened breach by Lessee of any covenant, agreement, term, provision, and condition hereof. (d) To bring suit for the collection of the rents or other amounts which may be in default, and to have a receiver appointed to receive and collect all rents and amounts due without entering into possession or terminating or avoiding this Lease. (e) To re-enter the Demised Premises, by summary proceedings or otherwise, and take possession thereof without thereby terminating this Lease, and thereupon Lessor may take expel all persons and remove all property therefrom either peaceably or by force, without becoming liable to prosecution therefor, and re-let the Demised Premises, making reasonable efforts therefor, for such period and upon such terms according to Lessor's sole discretion and receive the rent therefrom, applying the same first to the payment of the reasonable expenses of such re-entry and the cost of such re-letting and then to the payment of the rent accruing hereunder, the balance, if any, to be paid to Lessee, who, whether or not the Demised Premises are re-let, shall remain liable for any deficiency which may be recovered by Lessor, periodically, upon the successive days upon which the fixed rent hereunder is payable. It is agreed that the commencement and prosecution of any action by Lessor in forcible entry and detainer, ejectment, or otherwise, or the appointment of a receiver or any execution of any decree obtained in any action to recover possession of the Demised Premises or any or all items of Equipmentre-entry, wherever the same may shall not be located, without demand or notice, without any court order or other process of law and without liability construed as an election to Lessee for any damages occasioned by such taking of possessionterminate this Lease unless this Lease be expressly terminated, and any such taking of possession re-entry or entry by Lessor, whether had or taken under summary proceedings or otherwise, shall not constitute a termination be deemed to have absolved or discharged Lessee from any of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; its obligations and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of liabilities for the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration remainder of the term of the applicable this Lease. (f) To terminate this Lease, in re-enter the case of a saleDemised Premises and property and take possession thereof, or wholly discharged from this Lease. In the rents due for any period beyond the scheduled expiration of such event Lessor shall elect to terminate this Lease, in the case as aforesaid, all rights and obligations of any subsequent lease of such item, Lessee shall cease and terminate except that Lessor shall have and retain full right to sue for and collect all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent rents and other amounts due under for the paxxxnt of which Lessee shall then be in default, including damages to Lessor by reason of such Leasebreach, which shall have accrued up to the time of Lessor's re-entry and Lessee shall surrender and deliver up to Lessor the Demised Premises together with all improvements and additions thereto, and upon any excess net proceeds default by Lessee in so doing, Lessor shall have the right to be retained recover possession by Lessor. Each of the remedies under summary proceedings or otherwise, and to obtain and receive any other ancillary relief in such action and again to have and enjoy said Demised Premises fully and completely as if this Lease shall be cumulativehad never been made. (g) Lessor may, and not exclusive, and in addition to any other remedy referred the sums due Lessor pursuant to herein or otherwise available the preceding paragraphs, but in lieu of the rent to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor be paid as it accrues for the unexpired portion of any item the term of Equipment shall not bar an action for a deficiency as herein providedthis Lease, elect to recover from Lessee, and Lessee agrees to pay as liquidated damages, an amount equal to the bringing difference between the rent reserved for the unexpired portion of an action or the entry term of judgment against Lessee this Lease and the then fair rental value of the Demised Premises for the same period, discounted to the date of termination at the rate of three percent (3%). The rent reserved upon any reletting of the Demised Premises shall not bar Lessor's right be deemed prima facie to repossess any or all items be the fair rental value for the term of Equipmentsuch reletting.

Appears in 1 contract

Samples: Lease (Innovex Inc)

REMEDIES OF LESSOR. At any time after Upon the occurrence of a default by Lessee hereunder and at any Event of Defaulttime 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 elect: (a) Lessor may terminate any or declare all of unpaid rentals under this Lease to be immediately due and payable, the Leases with respect amount to any or all items of Equipment subject theretobe due to be computed as hereinafter set forth; (b) Lessor may recover from Lessee all Rent and other amounts then due and terminate this Lease as to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever 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 same may be locatedEquipment, without notice or demand or notice, and without any court order or other process of law process, and for such purpose, enter upon any premiss without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Leaseso doing; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such the Equipment, or any item in thereof, at a commercially reasonable manner, with or without notice and on public or private bidsale or lease at such time or times and upon such terms as Lessor may determine, free and apply clear of any rights of Lessee; (e) proceed by appropriate action either at law or in equity to enforce performance by Lessee of the net proceeds thereof applicable covenants of this Lease or recover damages for the breach thereof; and (after deducting f) exercise any and all rights accruing to a Lessor or personal property under any applicable law upon a default by Lessee. In furtherance of the estimated foregoing, Lessor shall be entitled to recover immediately as liquidated damages and not as a penalty, a sum equal to the aggregate of the following: (i) all unpaid rentals and other amounts or other sums which are due and payable for any item of Equipment up to the date delivered to or repossessed by Lessor; (ii) any expenses paid or incurred by Lessor in connection with the repossession, holding, repair, appraisal, transportation and subsequent sale, lease or other disposition of the Equipment, including attorneys' fees and court costs; and (iii) an amount equal to the difference between (aa) all unpaid rentals and other amounts, due and to become due under this Lease, each of which have been permitted or required to purchase the Equipment at the end of the Lease term hereof, which amount shall be discounted to present value at an annual rate of 7% ("Purchase Amount") and (bb) the then fair market value of any Equipment returned to or repossessed by Lessor ("Return Value"); provided, however, that the Return Value of each such item at of Equipment shall be deemed to be an amount equal to the expiration proceeds, if any, of any sale or lease thereof by Lessor, less any costs or expenses incurred by Lessor from such sale or lease. If Lessor is unable, after the exercise of reasonable efforts to sell or lease any such item of equipment, the Return Value of such item of equipment shall be deemed to be zero. If the Return Value of the term Equipment exceeds the sum of the applicable LeaseUnpaid Rentals plus the Purchase Amount, in Lessor shall be entitled to the case of a sale, excess. No right or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds remedy conferred upon or reserved to be retained Lessor by Lessor. Each of the remedies under this Lease shall be cumulative, exclusive of any other right or remedy herein or by law provided; all rights and not exclusive, remedies of Lessor conferred on Lessor by this Lease or by law shall be cumulative and in addition to any every other right and remedy referred to herein or otherwise available to Lessor. Lessee shall pay all costs and reasonable attorney's fees incurred by Lessor in law collecting any sums owed under this Lease or in equity. Any repossession or subsequent sale or lease by Lessor obtaining possession of any item leased Equipment, including attorney's fees incurred in seeking relief from stay in bankruptcy court together with interest at the rate of Equipment shall not bar an action for a deficiency as herein providedthe lesser of 18% compounded annually, and the bringing of an action or the entry maximum amount permitted by law on each of judgment against Lessee shall the foregoing and on all sums not bar Lessor's right to repossess paid when due under any or all items provision of Equipmentthis Lease.

Appears in 1 contract

Samples: Business Lease Agreement (Interactive Telesis Inc)

REMEDIES OF LESSOR. At any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from form Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessorlessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment.

Appears in 1 contract

Samples: Master Lease Agreement (Grace Development Inc)

REMEDIES OF LESSOR. At any time after Upon the occurrence of any Event of DefaultDefault and at any time thereafter (subject to any applicable grace provisions), Lessor may may, without any further notice, exercise one or more of the following remedies, as Lessor in its sole discretion shall elect: (a) Lessor may terminate any or all of the Leases with respect this Lease as to any or all items of Equipment subject theretoPersonal Property; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all take possession of the LeasesPersonal Property wherever found, and for this purpose enter upon any premises of Lessee without any liability for suit, action or other proceeding by Lessee, and remove the same; (c) cause Lessee, at its expense, to promptly return the Personal Property to Lessor may take possession of any or all items of Equipment, wherever in the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Leasecondition required herein; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equityuse, includinghold, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of the Personal Property or any item thereof on the premises of Lessee or any other location without affecting the obligations of Lessee as provided in this Lease; (e) sell or lease the Personal Property, or any part thereof, at public auction or by private sale or lease at such item time or times and upon such terms as Lessor may determine, free and clear of any rights of Lessee and, if notice thereof is required by law, any notice in a commercially writing of any such sale or lease by Lessor to Lessee not less than ten (10) days prior to the date thereof shall constitute reasonable manner, with notice thereof to Lessee; (f) proceed by appropriate action either by law or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term in equity to enforce performance by Lessee of the applicable Lease, in covenants of this Lease or to recover damages for the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expensesbreach thereof, including, without limitation, reasonable attorneys' fees, incurred in connection therewithrentals for the greater of (i) towards the Rent period of any required notice for Lessee to return Personal Property to Lessor or (ii) the period from the date of default to the date of return of the Personal Property to Lessor; or (g) exercise any and other amounts due all rights accruing to a Lessor under such Lease, with any excess net proceeds to be retained applicable law upon a default by Lessora Lessee. Each None of the remedies under this Lease are intended to be exclusive, but each shall be cumulative, and not exclusive, cumulative and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment Personal Property shall not bar an action for a deficiency as herein provided, provided and the bringing of an action or the entry of judgment against the Lessee shall not bar the Lessor's right to repossess any or all items of EquipmentPersonal Property. In the event of a default by Lessee hereunder and Lessor exercises any of the above remedies, Lessor shall use reasonable efforts to mitigate damages and any rental or other amounts received by Lessor shall offset the amounts owing from Lessee hereunder.

Appears in 1 contract

Samples: Asset Purchase Agreement (Holiday Rv Superstores Inc)

REMEDIES OF LESSOR. At any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of or Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment.

Appears in 1 contract

Samples: Master Lease Agreement (Fastnet Corp)

REMEDIES OF LESSOR. At any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate If any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the EquipmentDefault occurs, Lessor shall sellhave the right after the expiration of the applicable cure period, lease or otherwise dispose at the option of Lessor, to terminate this Lease upon providing fifteen (15) days written notice if the default has not been cured by the expiration of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof fifteen (after deducting the estimated fair market value 15) day period. An Event of such item Default shall be deemed to have occurred at the expiration of such fifteen (15) day period if the term of default has not been cured by the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such fifteen (15) day period. Additionally, if any Event of Default occurs, Lessor may, at its option, from time to time, without terminating this Lease, re-enter and re-let the Lease Area, or any part thereof, as the agent and for the account of Lessee upon such terms and conditions as Lessor may deem advisable or satisfactory, in which event the rents received on such re-letting shall be applied first to the expenses of such re-letting and collection including but not limited to, necessary renovation and alterations of the Lease Area, reasonable attorneys fees, any real estate commissions paid, and thereafter toward payment of all sums due or to become due to Lessor hereunder, and if a sufficient sum shall not be thus realized or secured to pay such sums and other charges, at Lessor's option, Lessee shall pay Lessor any deficiency immediately upon demand therefore, notwithstanding that Lessor may have received periodic rental in excess of the periodic rental stipulated in this Lease in previous or subsequent rental periods, and Lessor may bring an action therefore as such deficiency shall arise. Nothing herein, however, shall be construed to require Lessor to re-enter and re-let the Lease Area in any event. Lessor shall not, in any event, be required to pay Lessee any surplus of any sums received by Lessor on a re- letting of said Lease Area in excess of the rent provided in this Lease. (b) If any Event of Default occurs, Lessor shall have the right to obtain injunctive and declaratory relief, temporary and/or permanent, against Lessee or any acts, conduct or omissions of Lessee, and to further obtain specific performance of any term, covenant or condition of this Lease. (c) If any Event of Default occurs, Lessor shall have the right, at its option, to declare all Rent (or any portion thereof) for the entire remaining Lease Term, and other indebtedness owing by Lessee to Lessor, if any, immediately due and payable without regard to whether possession of the Lease Area shall have been surrendered to or taken by Lessor, and may commence action immediately thereupon and recover judgment therefore. (d) If any Event of Default occurs, Lessor, in addition to other rights and remedies it may have, shall have the right to remove all or any part of Lessee's personal property from the Lease Area and any personal property removed may be stored in any public warehouse or elsewhere at the cost of, and for the account of Lessee, and Lessor shall not be responsible for the care or safekeeping thereof whether in transport, storage or otherwise, and Lessee hereby waives any and all claim against Lessor for loss, destruction and/or damage or injury which may be occasioned by any of the aforesaid acts. (e) No such re-entry or taking possession of the Lease Area by Lessor shall be construed as an election on Lessor's part to terminate this Lease unless a written notice of such intention is given to Lessee. Notwithstanding any such re-letting without termination, Lessor may at all times thereafter elect to terminate this Lease for such previous default. Any such re- entry shall be allowed by Lessee without hindrance, and Lessor shall not be liable in damages for any such re-entry, or guilty of trespass or forcible entry. (f) Any Rent which may be due Lessor, whether by acceleration or otherwise as herein provided in this Article, shall include Minimum Base Rent, Minimum Percentage Rent and any other rents, costs and expenses denominated as Additional Rent in this Lease. (g) It is expressly agreed that the forbearance on the part of Lessor in the case institution of any suit or entry of judgment for any part of the Rent herein reserved to Lessor, shall not serve as a defense against nor prejudice a subsequent lease action for such Rent. Lessee hereby expressly waives Lessee's right to claim a merger or waiver of such itemsubsequent action in any previous suit or in the judgment entered therein. Furthermore, it is expressly agreed that claims for liquidated Minimum Base Rent and/or Minimum Percentage Rent may be regarded by Lessor, if it so elects, as separate and independent claims capable of being separately assigned. (h) Any and all expensesrights, including, without limitation, reasonable attorneys' fees, incurred remedies and options given in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease to Lessor shall be cumulative, and not exclusive, cumulative and in addition to any other remedy referred to herein or otherwise available to Lessor in law and without waiver of, or in equity. Any repossession derogation of, any right or subsequent sale remedy given to it under any laws now or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipmenthereafter in effect.

Appears in 1 contract

Samples: Lease Agreement

REMEDIES OF LESSOR. At any time after Upon the occurrence of any Event of Default, Lessor or at any time thereafter, Lessor, at its sole option may exercise one or more of the following remedies: (ai) Lessor may declare all accrued and unpaid rent immediately due and payable; (ii) terminate any or all of the Leases with respect this Lease as to any or all items of Equipment subject theretoupon written notice to Lessee without prejudice to any other remedies hereunder; (biii) Lessor enter at any time any premises where the Equipment may recover from Lessee all Rent be, with or without legal process, and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, thereof without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute action constituting a termination of any this Lease, unless Lessor notifies Lessee in writing to such effect; (div) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available proceed by appropriate action, either at law or in equity, includingto enforce performance by Lessee of the applicable covenants of this Lease or to recover, without limitationas liquidated damages for the loss of the bargain and not as a penalty, seeking damages, specific performance or an injunction. Upon repossession or return of any item amount equal to the Stipulated Loss Value of the Equipment, as defined in Section 8 above, as of the date of Event of Default, plus interest at Lessor's then prevailing late payment charge from the date of default to the date of payment. After repossession of the Equipment by Lessor, Lessee shall attempt to mitigate Lessee's damages as hereinafter provided. Lessor shall sell, may attempt to sell or lease or otherwise dispose of such item (the choice being reserved to Lessor's reasonable discretion) the Equipment in a commercially reasonable manner, with or without notice and on public or private bidtransaction at which Lessor may bid and, and apply the net proceeds if notice thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Leaseis required by law, any notice in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case writing of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor not less than ten (10) days prior to the date thereof shall constitute reasonable notice thereof to Lessee, The proceeds of any item of Equipment shall not bar an action for a deficiency as herein providedsuch sale or lease, if any, should be applied first (i) to all Lessor's costs, charges and expenses incurred in taking, removing, holding, repairing, and selling or leasing the bringing of an action or Equipment; then (ii) to the entry of judgment against Lessee shall extent not bar Lessor's right previously paid by Lessee, to repossess pay Lessor any or all items of Equipment.damages then remaining unpaid hereunder; then

Appears in 1 contract

Samples: Equipment Lease (New York Regional Rail Corp)

REMEDIES OF LESSOR. At any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. 6 Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment.

Appears in 1 contract

Samples: Master Lease Agreement (Dayton General Systems Inc)

REMEDIES OF LESSOR. At any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or all of the Leases with respect to any or all items of Equipment subject subject, thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned occassioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment.

Appears in 1 contract

Samples: Master Lease Agreement (Integrated Communication Networks Inc)

REMEDIES OF LESSOR. At any time after If the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: Lessee (a) Lessor may terminate Does not pay in full when due any and all installments of rent and/or any other charge or all of payment herein reserved, included, or agreed to be treated or collected as rent and/or any other charge, expense, or cost herein agreed to be paid by the Leases with respect to any or all items of Equipment subject thereto; Lessee, or (b) Lessor may recover from Lessee all Rent and other amounts then due and Violates or fails to become due under perform or otherwise breaks any covenant or all of the Leasesagreement herein contained; or (c) Lessor may take possession Vacates the demised premises or removes or attempts to remove or manifests an intention to remove any goods or property therefrom otherwise than in the ordinary and usual course of any or all items of Equipment, wherever business without having first paid and satisfied the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; full for all rent and (e) Lessor other charges then due or that may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at thereafter become due until the expiration of the then current term, above mentioned; or (d) Becomes embarrassed or insolvent, or makes an assignment for the benefit of creditors, or if a petition in bankruptcy is filed by or against Lessee or a complaint in equity or other proceedings for the appointment of a receiver for Xxxxxx is filed, or if proceedings for reorganization or for composition with creditors under any State or Federal law be instituted by or against Lessee, or if the real or personal property of Lessee shall be levied upon or be sold, of if for any other reason Lessor shall, in good faith, believe that Xxxxxx's ability to comply with the covenants of this lease, including the prompt payment of rent hereunder, is or may become impaired, thereupon: (1) The whole balance of rents and other charges, payments, costs, and expenses herein agreed to be paid by Xxxxxx, or any part thereof, and also all costs and officers' commissions including watchmen's wages shall be taken to be due and payable and in arrears as if by the terms and provisions of this lease said balance of rent and other charges, payment, taxes, costs and expenses were on that date, payable in advance. Further, if this lease or any part thereof is assigned, or if the premises or any part thereof is sublet, Lessee hereby irrevocably constitutes and [illegible] (2) At the option of Lessor, this lease and the terms hereby created shall determine and become absolutely void without any right on the part of Lessee to reinstate this lease by payment of any sum due or by other performance of any condition, term, or covenant broken; whereupon, Lessor shall be entitled to recover damages for such breach in an amount equal to the amount of rent reserved for the balance of the term of this lease, less the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each fair rental value of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or said demised premises for the remainder of the lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipmentterm.

Appears in 1 contract

Samples: Lease Agreement (Discovery Laboratories Inc /De/)

REMEDIES OF LESSOR. At any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate If any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the EquipmentDefault occurs, Lessor shall sellhave the right after the expiration of the applicable Cure Period, lease or otherwise dispose at the option of Lessor, to terminate this Lease upon providing fifteen (15) days written notice if the default has not been cured by the expiration of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof fifteen (after deducting the estimated fair market value 15) day period. An Event of such item Default shall be deemed to have occurred at the expiration of the term of Cure Period if the applicable Lease, in default has not been cured by the case of a sale, or the rents due for any period beyond the scheduled expiration of such fifteen (15) day period. Additionally, if any Event of Default occurs, Lessor may, at its option, from time to time, without terminating this Lease, re-enter and re-let the Property, or any part thereof, as the agent and for the account of Lessee upon such terms and conditions as Lessor may deem advisable or satisfactory, in which event the rents received on such re-letting shall be applied first to the expenses of such re-letting and collection including but not limited to, necessary renovation and alterations of the Property, reasonable attorneys fees, any real estate commissions paid, and thereafter toward payment of all sums due or to become due to Lessor hereunder, and if a sufficient sum shall not be thus realized or secured to pay such sums and other charges, at Lessor's option, Lessee shall pay Lessor any deficiency immediately upon demand therefore, notwithstanding that Lessor may have received periodic rental in excess of the periodic rental stipulated in this Lease in previous or subsequent rental periods, and Lessor may bring an action therefore as such deficiency shall arise. Nothing herein, however, shall be construed to require Lessor to re-enter and re-let the Property in any event. Lessor shall not, in any event, be required to pay Lessee any surplus of any sums received by Lessor on a re-letting of said Property in excess of the Rent provided in this Lease. (b) If any Event of Default occurs, Lessor shall have the right to obtain injunctive and declaratory relief, temporary and/or permanent, against Lessee or any acts, conduct or omissions of Lessee, and to further obtain specific performance of any term, covenant or condition of this Lease. (c) If any Event of Default occurs, Lessor shall have the right, at its option, to declare all Rent (or any portion thereof) for the entire remaining Lease Term, and other indebtedness owing by Lessee to Lessor, if any, immediately due and payable without regard to whether possession of the Property shall have been surrendered to or taken by Lessor, and may commence action immediately thereupon and recover judgment therefore. (d) If any Event of Default occurs, Lessor, in addition to other rights and remedies it may have, shall have the right to remove all or any part of Lessee's personal property from the Property and any personal property removed may be stored in any public warehouse or elsewhere at the cost of, and for the account of Lessee, and Lessor shall not be responsible for the care or safekeeping thereof whether in transport, storage or otherwise, and Lessee hereby waives any and all claim against Lessor for loss, destruction and/or damage or injury which may be occasioned by any of the aforesaid acts. (e) No such re-entry or taking possession of the Property by Lessor shall be construed as an election on Lessor's part to terminate this Lease unless a written notice of such intention is given to Lessee. Notwithstanding any such re-letting without termination, Lessor may at all times thereafter elect to terminate this Lease for such previous default. Any such re-entry shall be allowed by Lessee without hindrance, and Lessor shall not be liable in damages for any such re-entry, or guilty of trespass or forcible entry. (f) Any Rent which may be due Lessor, whether by acceleration or otherwise as herein provided in this Article, shall include Minimum Base Rent, Percentage Rent and any other rents, costs and expenses denominated as Additional Rent in this Lease. (g) It is expressly agreed that the forbearance on the part of Lessor in the case institution of any suit or entry of judgment for any part of the Rent herein reserved to Lessor, shall not serve as a defense against nor prejudice a subsequent lease action for such Rent. Lessee hereby expressly waives Lessee's right to claim a merger or waiver of such itemsubsequent action in any previous suit or in the judgment entered therein. Furthermore, it is expressly agreed that claims for liquidated Minimum Base Rent and/or Percentage Rent may be regarded by Lessor, if it so elects, as separate and independent claims capable of being separately assigned. (h) Any and all expensesrights, including, without limitation, reasonable attorneys' fees, incurred remedies and options given in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease to Lessor shall be cumulative, and not exclusive, cumulative and in addition to any other remedy referred to herein or otherwise available to Lessor in law and without waiver of, or in equity. Any repossession derogation of, any right or subsequent sale remedy given to it under any laws now or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipmenthereafter in effect.

Appears in 1 contract

Samples: Lease Agreement

REMEDIES OF LESSOR. At any time after the occurrence All rights and remedies of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or all of the Leases with respect herein set forth are in addition to any and all rights and remedies which are or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment available to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity. (a) If Lessee shall fail to pay any rent reserved herein when due, or fails to pay Lessor's charges for water, electrical, or other services within ten (10) days after the rendition of a statement, or defaults in the prompt and full performance of any of Lessee's covenants and agreements hereunder, or if the leasehold interest of Lessee be levied upon, under execution or be attached, or if Lessee makes an assignment for the benefit of creditors, or if a receiver be appointed for any property of Lessee, or if Lessee abandons the premises, then, and in any such event, Lessor may, if Lessor so elects, and with or without notice of such election and with or without demand whatsoever, forthwith terminates this Lease and the Lessee's right to possession of the premises, or Lessor may, without terminating this Lease, terminate Lessee's right to possession of the premises. Lessee hereby waives Lessee's right to trial by jury in connection with any proceedings by Lessor to enforce any of its rights against Lessee under this Lease, including, without limitation, seeking damagesany proceedings to remove Lessee from the premises. (b) Upon the filing of a petition by or against Lessee under the United States Bankruptcy Code, specific (the "Code"), Lessee, as debtor and as debtor in possession, and any trustee who may be appointed shall (i) timely perform each and every obligation of Lessee under this Lease until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; (ii) pay monthly in advance on the first day of each month as reasonable compensation for use and occupancy of the premises an amount equal to the Rent and other charges otherwise due pursuant to this Lease; (iii) provide adequate assurance of future performance under the Lease; (iv) reject or an injunctionassume this Lease within sixty (60) days of the filing of such petition under the Code, and (v) do all other things of benefit to Lessor otherwise required or permitted under the Code. Upon repossession Lessee, as debtor and as debtor in possession, and any trustee, shall be deemed to have rejected this Lease in the event of the failure to comply with any of the above. Included within and in addition to any other conditions or return obligations imposed upon Lessee or its successor in the event of assumption and/or assignment is the prior written consent of any item mortgagee to which this Lease has been assigned as collateral security. (c) Upon termination of this Lease, or upon the termination of Lessee's right to possession without termination of the EquipmentLease, Lessee shall surrender possession and vacate the premises immediately, and Lessor may enter into and repossess the premises with or without process of law and remove all persons and property therefrom in the same manner and with the same right as if this Lease had not been made, and for the purpose of such entry and repossession, Lessee waives any notice provided by law or otherwise to be given in connection therewith. (d) If Lessee abandons the premises, or if Lessor elects to terminate Lessee's right to possession only, without terminating the Lease as above provided, Lessor may remove from the premises any and all property found therein and such repossession shall not release Lessee from Lessee's obligation to pay the rent reserved herein. After any such repossession by Lessor without termination of the Lease, Lessor shall sellmake reasonable efforts to relet the premises, lease or any part thereof, as agent of Lessee to any person, firm, or corporation and for such time and upon such terms as Lessor, in Lessor's sole discretion, may determine. Lessor may make repairs, alterations, and additions in and to the premises and redecorate the same to the extent deemed by Lessor necessary or desirable, and Lessee shall, upon demand, pay the cost thereof, together with Lessor's expense (including any broker's commission) of reletting. If the rents collected by Lessor upon any such reletting are not sufficient to pay monthly the full amount of all rent reserved herein, together with the costs of such repairs, alterations, additions, redecorating, and expenses, Lessee shall pay to Lessor the amount of each monthly deficiency upon demand. (e) Any and all property which may be removed from the premises by Lessor may be handled, removed, stored, or otherwise dispose disposed of by Lessor at the risk and expense of Lessee, and Lessor shall, in no event, be responsible for the preservation or safekeeping thereof. Lessee shall pay to Lessor, upon demand, any and all expenses incurred in such item removal and all storage charges against such property so long as the same shall be in Lessor's possession or under Lessor's control. If any property shall remain in the premises or in the possession of Lessor and shall not be removed by Lessee within a commercially reasonable mannerperiod of ten (10) days from and after the time when the premises are either abandoned by Lessee or repossessed by Lessor under the terms of this Lease, the property shall conclusively be deemed to have been forever abandoned by Lessee. (f) Lessor and Lessee agree that all of the goods, chattels, trade fixtures, and other personal property belonging to Lessee which are or may be put into the premises during the term, whether exempt or not from sale under execution or attachment, shall, at all times, be bound with a lien in favor of Lessor, and shall be chargeable for all rents hereunder and for the fulfillment of the other covenants and agreements of Lessee herein contained. In the event that Lessee shall have abandoned the premises, or without notice and on in the event of any default of Lessee hereunder, Lessor shall have the right to sell all or any part of said property at public or private bidsale, without giving notice to Lessee or any notice of sale, all notices required by statute or otherwise being hereby expressly waived, and to apply the net proceeds thereof (after deducting the estimated fair market value of such item at sale, first to the expiration payment of all costs and expenses of conducting the term same, or caring for or storing said property; second, toward the payment of the applicable Leaseany indebtedness which may be or may become due from Lessee to Lessor; and, third, to pay to Lessee, on demand, in the case writing, any surplus remaining after all indebtedness of a saleLessee to Lessor has been fully paid. (g) In addition to all other rights and remedies of Lessor hereunder, or the rents due for if Lessee fails to timely perform any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expensesits obligations hereunder, including, without limitation, reasonable attorneys' feesmonetary obligations, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds whether or not Lessor has terminated this Lease or Lessee's right to be retained by Lessor. Each possession of the remedies premises, or either, Lessor may elect to accelerate and make immediately due and payable all of the rent, additional rent, adjusted rent and any other charges or fees which are due or may become due hereunder for the remainder of the term of this Lease. Lessee agrees that Lessor may file suit to recover any sums due under this Lease from time to time and that no suit or recovery of any portion due Lessor hereunder shall be cumulative, and not exclusive, and in addition any defense to any other remedy referred subsequent action brought for any amount not theretofore reduced to herein or otherwise available to Lessor judgment in law or in equity. Any repossession or subsequent sale or lease by Lessor favor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment.

Appears in 1 contract

Samples: Lease Agreement (Kids Stuff Inc)

REMEDIES OF LESSOR. At any time after Subject to the occurrence provisions of any Sections (c), (d) and (e) below, upon an Event of Default, Lessor may exercise one (i) enforce the specific performance of this Lease, (ii) terminate this Lease in Lessor's discretion, in which case Lessee shall immediately surrender the Leased Premises to Lessor; or more (iii) terminate Lessee's rights to possession of the following remedies: (a) Lessor may terminate any Leased Premises. If Xxxxxx fails to surrender the Leased Premises after Xxxxxx terminates this Lease or all Xxxxxx's right to possession of the Leases Leased Premises, Lessor, in compliance with respect to any or applicable law, may enter and take possession of the Leased Premises and remove Xxxxxx and Xxxxxx's property from the Leased Premises. Lessee shall pay Lessor, on demand, all items of Equipment subject thereto; (b) Lessor may recover from Lessee all past due Rent and other amounts then due losses and to become due under any or all damages Lessor suffers as a result of the Leases; (c) Lessor may take possession Xxxxxx's Event of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, Default and any such taking other Event of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equityDefault occurring thereafter, including, without limitation, seeking damages, specific performance all Costs of Re-letting and any deficiency in Rent that may arise from re-letting or an injunctionthe failure to re-let the Leased Premises. Upon repossession or return "Costs of any item Re- letting" shall include all reasonable costs and expenses incurred by Lessor in recovering possession of the EquipmentLeased Premises (including, Lessor shall sellwithout limitation, lease legal expenses and attorneys' fees) and for re-letting or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply attempting to re-let the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expensesLeased Premises, including, without limitation, reasonable attorneys' legal fees, incurred in connection therewith) towards brokerage commissions, the Rent cost of alterations and the value of other amounts due under such Lease, with any excess net proceeds concessions or allowances granted to be retained by Lessora new Lessee or Lessees. Each The respective rights of the remedies Lessor under this Lease shall be cumulative, cumulative and failure on the part of Lessor to exercise promptly any such rights afforded it shall not exclusive, and in addition operate to forfeit any other remedy referred to herein or otherwise available to Lessor in law or in equitysuch rights. Any repossession or subsequent sale or lease No forbearance by Lessor of action upon any item violation or breach of Equipment any of the terms, provisions, and covenants herein contained shall be deemed or construed to constitute a waiver of the terms, provisions, and covenants herein contained. Forbearance by Lessor to enforce one or more of the remedies herein provided upon an Event of Default shall not bar an action be deemed or construed to constitute a waiver of any other violation or Event of Default. Further, the acceptance by Lessor of Rent, Annual CAM Charges or other charges or payments by Lessee for a deficiency as herein provided, and any period or periods after the bringing occurrence of an action Event of Default shall not be deemed a waiver of such Event of Default or a waiver of or estoppel to enforce any right or remedy on the part of Lessor arising or existing by reason of such Event of Default, whether or not Lessor has or had knowledge of such Event of Default. Legal actions to recover for loss or damage that Lessor may suffer by reason of termination of this Lease or the entry deficiency from any reletting as provided for above shall include the expense of judgment against Lessee shall not bar Lessor's right to repossess repossession or reletting and any repairs or all items of Equipmentremodeling undertaken by Lessor following repossession.

Appears in 1 contract

Samples: Ground Lease

REMEDIES OF LESSOR. At any time after Upon the occurrence of any Event of DefaultDefault and at any time thereafter, Lessor may without demand or notice to Lessee and without terminating or otherwise affecting Lessee's obligations hereunder exercise one or more of the following remedies, as Lessor in its sole discretion shall elect: ( a) Lessor may terminate any or xxx for and recover from Lessee the sum of all unpaid rents and other payments due under each Lease then accrued, all accelerated future payments due under each Lease, discounted to their present value at a discount rate equal to current rate as of the Leases with respect date of default, plus Lessor's estimate at the time each Lease was entered into of Lessor's residual interest in the Equipment, reduced to any or all items present value at a discount rate equal to current rate as of Equipment subject theretothe date of default, less the net proceeds of disposition, if any, of the Equipment; (b) require Lessee to assemble the Equipment and make it available to Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leasesat a place designated by Lessor as provided in Paragraph 17 above; (c) Lessor may take and hold possession of the Equipment and render the Equipment unusable, and for this purpose enter and remove the Equipment from any or all items of Equipment, wherever premises where the same may be located, without demand or notice, without any court order or other process of law and located without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Leasedamage caused thereby; (d) sell or lease the Equipment or any part thereof at public or private sale (and Lessor may demand that Lessee return be a purchaser at such sale) for cash, on credit or otherwise, without representations or warranties, and upon such other terms as shall be acceptable to Lessor, and for such purposes of sale or lease, Lessor may use Lessee's name, voice, signature, photograph or likeness, in any manner and for any purpose, including but not limited to, advertising or selling, or soliciting purchases of, any or all items of the Equipment, products, merchandise, goods or services; (e) use and occupy the premises of Lessee for the purpose of taking, holding, reconditioning, displaying, selling or leasing the Equipment, without cost to Lessor or liability to Lessee; (f) proceed by appropriate action either at law or in equity to enforce either performance by Lessee of the covenants of this Lease or to recover damages for the breach of such covenants; or (g) exercise any and all rights accruing to a lessor under any applicable law upon a default by a lessee. If notice is required by law, any written notice to Lessee of any such sale or lease, given not less than five (5) days prior to the date thereof, shall constitute reasonable notice to Lessee. Any sale or lease of the Equipment by Lessor after default shall be free and clear of any rights or interests of Lessee. Without limiting any of the foregoing remedies, Lessor may immediately recover the following from Lessee. (A) all unpaid rentals, late charges and other sums due as of the date of default; (B) all unpaid rentals to become due from the date of default through the last day of the term of each Lease; (C) any and all costs or expenses paid or incurred by Lessor in connection with the repossession, holding, repair, reconditioning and subsequent sale, lease or other disposition of the Equipment, including but not limited to, attorneys' fees and costs, whether or not litigation is commenced; (D) the residual value of any item of Equipment which Lessee fails to return to Lessor as provided above or converts or destroys, or which Lessor does not or is unable to repossess;(E) all other costs or expenses paid or incurred by Lessor at any time in accordance connection with Paragraph 16the execution, delivery, administration, amendment and enforcement or exercise of any of the Lessor's rights and remedies under each Lease, including but not limited to, attorneys' fees and costs, whether or not litigation is commenced, and taxes imposed by any governmental agency; (F) any actual or anticipated loss of federal or state tax benefits to Lessor (as determined by Lessor) resulting from Lessee's default or Lessor's repossession or disposition of the Equipment; and (eG) any and all other damages proximately caused by Lessee's default. If Lessor may pursue obtains possession of any Equipment after default, the amount Lessor shall be entitled to recover shall be reduced by the lesser of(I ) the rent due for the portion of the term of each Lease remaining at the point in time the Equipment is re-sold or re-leased, or (2) either (a) the proceeds received by Lessor on the re-sale of the Equipment, less the re-sold Equipment's residual value or (b) the invoice value used for the re-lease of the Equipment less the re-leased Equipment's residual value. Lessor shall not be obligated to sell, lease, or otherwise dispose of any item of repossessed Equipment under each Lease if it would impair the sale, lease or other disposition by Lessor of similar equipment. Lessee shall be liable for any deficiency suffered by Lessor, and unless otherwise required by law, Lessor shall not be required to account to Lessee for any surplus or profit. All rights and remedies of Lessor under each Lease are in addition to all rights and remedies contained in any other remedy agreement, instrument or document or available to Lessor at law or in equity. All such rights and remedies are cumulative and not exclusive and may be exercised successively, includingconcurrently and repeatedly. No default by Lessee or action by Lessor, without limitationincluding repossession, seeking damagessale or re-leasing of Equipment, specific performance shall result in or an injunctionconstitute a termination of each Lease unless Lessor so notifies Lessee in writing, and no termination hereof shall release or impair any of Lessee's obligations hereunder. Upon repossession or return No exercise of any item right or remedy shall constitute an election of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice remedies and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case preclude exercise of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessorright or remedy. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of EquipmentLESSEE WAIVES ANY AND ALL RIGHTS TO NOTICE AND TO A JUDICIAL HEARING WITH RESPECT TO THE REPOSSESSION OF THE EQUIPMENT BY LESSOR IN THE EVENT OF DEFAULT HEREUNDER BY LESSEE.

Appears in 1 contract

Samples: Master Lease Agreement (Applied Biometrics Inc)

REMEDIES OF LESSOR. At Subject to the notice and cure provisions set forth in Section 35 of this lease, if the Lessee: a. Does not pay in full when due any time after and all installments of rent and/or any other charge or payment herein reserved, included, or agreed to be treated or collected as rent and/or any other charge, expense, or cost herein agreed to be paid by the occurrence Lessee; and/or b. Violates and/or fails to perform or otherwise breaks any covenant or agreement herein contained; and/or c. Vacates the demised premises or removes or attempts to remove or manifests an intention to remove any goods or property therefrom otherwise than in the ordinary and usual course of any Event of Default, business without having first paid and satisfied the Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or in full for all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent rent and other amounts charges then due and to or that may thereafter become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at until the expiration of the then current term, above mentioned; and/or d. Becomes insolvent, or makes an assignment for the benefit of creditors, or if a petition in bankruptcy is filed by or against the Lessee, and provided a petition against Lessee is not dismissed within sixty (60) days of filing, or a xxxx in equity or other proceeding for the appointment of a receiver for the Lessee is filed, or if proceedings for reorganization or for composition with creditors under any State or Federal law be instituted by or against Lessee, or if the real or personal property of the Lessee shall be sold or levied upon by any Sheriff, Xxxxxxxx or Constable, then and in such event or events, there shall be deemed to be a breach of this lease, and thereupon at the option of the Lessor, i. The rent for the entire unexpired balance of the term of this lease, as well as all other charges, payments, costs and expenses herein agreed to be paid by the applicable Lease, in the case of a saleLessee, or at the rents due for option of Lessor any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such itempart thereof, and also all expensescosts and officers' commissions including watchmen's wages and further including the five percent chargeable by Act of Assembly to the Lessor, includingshall, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any and all installments of rent already due and payable and in arrears and/or any other remedy referred charge or payment herein reserved, included or agreed to be treated or collected as rent, and/or any other charge, expense or cost herein agreed to be paid by the Lessee which may be due and payable in arrears, be taken to be due and payable and in arrears as if by the terms and provisions of this lease, the whole balance of unpaid rent and other charges, payments, taxes, costs and expenses were on that date payable in advance; and if this lease or otherwise available any part thereof is assigned, or if the premises or any part thereof is sublet, Lessee hereby irrevocably constitutes and appoints Lessor Lessee's agent to Lessor collect the rents due from such assignee or sublessee and apply the same to the rent due hereunder without in law or in equityany way affecting Lessee's obligation to pay any unpaid balance of rent due hereunder; or ii. Any repossession or subsequent sale or This lease and the term hereby created determine and become absolutely void without any right on the part of the Lessee to save the forfeiture by Lessor payment of any item sum due or by other performance of Equipment any condition, term or covenant broken; whereupon, Lessor shall not bar be entitled to recover damages for such breach in an action amount equal to the amount of rent reserved for a deficiency as herein providedthe balance of the term of this lease, and less the bringing fair rental value of an action or the entry said demised premises, for the residue of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipmentsaid term.

Appears in 1 contract

Samples: Lease Agreement (Holts Cigar Holdings Inc)

REMEDIES OF LESSOR. At any time after (a) Upon the occurrence of any an Event of Default, Lessor may exercise one or more may, if Lessor so elects, on notice to Lessee, either terminate this Lease and Lessee’s right to possession of the following remedies: (a) Lessor may Premises or terminate any or all Lessee’s right to possession of the Leases with respect to any or all items Premises without termination of Equipment subject thereto; this Lease. (b) Upon any termination of this Lease, whether by lapse of time or otherwise, Lessee shall surrender possession and vacate the Premises immediately, and deliver possession thereof to Lessor, and hereby grants to Lessor may recover from Lessee all Rent the full right to enter into and other amounts then due and to become due under any upon the Premises in such event with or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and repossess the Premises and to expel or remove Lessee and any others who may be occupying the Premises and to remove any and all property therefrom, using such force as may be necessary, without liability such entry constituting a trespass, eviction or forceable entry or detainer, and without relinquishing Lessor’s right to collect any rent that may be or become due, or any other right to which Lessor may be entitled under this Lease or by operation of law. (c) If Lessee abandons the Premises or Lessor may otherwise be lawfully entitled so to elect, and Lessor elects to terminate Lessee’s right to possession only, without terminating this Lease, Lessor may, at Lessor’s option, enter into the Premises, remove property, and take and hold possession all as in Subsection B above provided, without terminating this Lease. Upon and after entry into possession without terminate of this Lease, Lessor may relet the Premises or any part thereof for the account of Lessee to any person, firm or corporation other than Lessee for such rent, for such period (including periods extending beyond the term of this Lease) and upon such terms as Lessor in Lessor’s sole discretion shall determine. In any damages occasioned such case, Lessor may make such repairs and alterations to the Premises and redecorate them as deemed by Lessor to be appropriate in order to facilitate reletting of the Premises. All costs thereof and Lessor’s expenses of retaking possession, removing property, and of reletting, including a reasonable lease commission, shall be charged against the first rents collected on any reletting of the Premises. If the rents collected by Lessor upon any such taking reletting for Lessee’s account after payment of possessionthe foregoing expenses, are not sufficient to pay the full amount of the rent reserved in this Lease as it becomes due, Lessee shall pay to Lessor the amount of the deficiency each month upon demand. In the event the rents collected by Lessor upon any such reletting for Lessee’s account after payment of the foregoing expenses exceed the full amount of the rent reserved in this Lease as it becomes due, such excess shall be retained by Lessor to be applied against any subsequent deficiency, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item excess remaining at the expiration end of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulativepaid to Lessee. (d) In the event of any breach or threatened breach by Lessee of any covenants, and not exclusiveagreements, and terms or conditions made in this Lease, Lessor shall be entitled to enjoin such breach or threatened breach and, in addition to the rights and remedies provided hereunder, shall have any other right or remedy referred to allowed at law or equity, by statute or otherwise. The provisions of this section shall be construed consistent with the law of Missouri so that remedies of Lessor herein or otherwise described shall be available to Lessor in to the full extent but only to the extent that they are not invalid or unenforceable under the law or in equityof Missouri. Any repossession or subsequent sale or lease by Lessor In the event of any item alleged default of Equipment Lessor with respect to this Lease, Lessee shall not bar an action look solely to the estate and property interest of Lessor in the Building for a deficiency as herein providedthe satisfaction of Lessee’s remedies or the collection of any judgment or other judicial process requiring the payment of money by Lessor, and no other property or assets of the bringing Lessor shall be subject to levy, execution or other enforcement procedure for the satisfaction of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of EquipmentLessee’s remedies.

Appears in 1 contract

Samples: Lease Agreement

REMEDIES OF LESSOR. At any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever whenever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing brining of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment.

Appears in 1 contract

Samples: Master Lease Agreement (Network Access Solutions Corp)

REMEDIES OF LESSOR. At any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: If Lessee: (a) Lessor may terminate Does not pay in full when due any and all installments of rent and/or any other charge or payment herein reserved, included, or agreed to be treated or collected as rent and/or any other charge, expense, or cost herein agreed to be paid by Lessee (including all of expenses incurred by Lessee for improvements or alterations to the Leases Demised Premises by Lessor) and with respect to any or all items such payments time shall be deemed to be of Equipment subject theretothe essence; or (b) Lessor may recover from Lessee all Rent and other amounts then due and Violates or fails to become due under perform or otherwise breaks any covenant or all of the Leasesagreement herein contained; or (c) Lessor may take possession Vacates the Demised Premises or removes or attempts to remove or manifests an intention to remove any goods or property therefrom otherwise than in the ordinary and usual course of any or all items of Equipment, wherever the same may be located, business without demand or notice, without any court order or other process of law having first paid and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to satisfied Lessor in accordance with Paragraph 16; full for all rent and (e) Lessor other charges then due or that may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at thereafter become due until the expiration of the then current term, above mentioned; or (d) Becomes embarrassed or insolvent, or makes an assignment for the benefit of creditors, or if a petition in bankruptcy is filed by or against Lessee, or a xxxx in equity or other proceeding for the appointment of a receiver for Lessee is filed, or if proceedings for reorganization or for composition with creditors under any State or Federal law be instituted by or against Lessee, of if the real or personal property of Lessee shall be sold or levied upon by any Sheriff, Xxxxxxxx or Constable; then and in any or either of the events, there shall be deemed to be a breach of this Lease Agreement, and: (1) The rent for the entire unexpired term of the applicable Leasethis Lease Agreement, in the case of a saleas well as all other charges, payments, costs and expenses herein agreed to be paid by Lessee, or at the rents due for option of Lessor any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such itempart thereof, and also all expensescosts and officers' commissions including watchmen's wages and further including the five percent chargeable by Act of Assembly to Lessee, includingshall, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any and all installments of rent already due and payable and in arrears and/or any other remedy referred charge or payment herein reserved, included or agreed to be treated or collected as rent, and/or any other charge, expense or cost herein agreed to be paid by Lessee which may be due and payable and in arrears (including all expenses incurred by Lessee for improvements or otherwise available alterations to the Demised Premises by Lessor), be taken to be due and payable and in arrears as if by the terms and provisions of this Lease Agreement the whole balance of unpaid rent and other charges, payments, taxes, costs and expenses were on that date payable in advance; and if this Lease Agreement or any part thereof is assigned, or if the Demised Premises or any part thereof is sublet, Lessee hereby irrevocably constitutes and appoints Lessor Lessee's agent to collect the rents due from such assignee or sub-lessee and apply the same to the rent due hereunder without in law or in equity. Any repossession or subsequent sale or lease any way affecting Lessee's obligation to pay any unpaid balance of rent due hereunder; (2) At the option of Lessor, this Lease Agreement and the terms hereby created shall determine and become absolutely void without any right on the part of Lessee to save the forfeiture by Lessor payment of any item sum due or by other performance of Equipment any condition, term or covenant broken; whereupon, Lessor shall not bar be entitled to recover damages for such breach in an action amount equal to the amount of rent reserved for a deficiency as herein provided, and the bringing balance of an action or the entry term of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipmentthis Lease Agreement.

Appears in 1 contract

Samples: Commercial Lease Agreement (Healthaxis Inc)

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