Common use of Remedies of Owner Clause in Contracts

Remedies of Owner. A. If an Event of Default shall occur and this Lease and the Term shall expire and come to an end as provided in Article 14 hereof, or by or under any summary proceeding or any other action or proceeding by Owner against Tenant or any person claiming by, through or under Tenant, or if Owner shall re-enter the Premises as provided in Article 14, or by or under any summary proceeding or any other action or proceeding, respectively, then, in any of said events: (1) Tenant shall pay to Owner all Fixed Rent, Additional Rent and other charges payable under this Lease by Tenant to Owner to the date upon which this Lease and the Term shall have expired or have been terminated and come to an end or the date of re-entry upon the Premises by Owner, as the case may be; (2) Owner shall be entitled to retain all monies, if any, paid by Tenant to Owner, whether as advanced Rent, security deposit or otherwise; but such monies shall be credited by Owner against any damages payable by Tenant to Owner; (3) Tenant also shall be liable for and shall pay to Owner as liquidated damages, any deficiency (the “Deficiency”) between the Rent reserved in this Lease for the period which otherwise would have constituted the unexpired portion of the Term (conclusively presuming the Additional Rent to be the same as was payable for the year immediately preceding such termination or re-entry) and the net amount, if any, of rents collected under any reletting of all or part of the Premises for any part of such period, after first deducting from the rents actually collected under any such reletting all of Owner’s expenses in connection with the termination of this Lease, and Owner’s re-entry upon the Premises and in connection with such reletting, including, without limitation, all repossession costs, brokerage commissions, reasonable attorneys’ fees, court costs and disbursements, alteration costs and other expenses of preparing the Premises for such reletting and the amount of rent concessions, construction allowance and the like granted in connection with such reletting (collectively, the “Default Expenses”); it being agreed and understood by Tenant that any such Deficiency shall be paid in monthly installments by Tenant on the days specified in this Lease for payment of installments of Fixed Rent, and that Owner shall be entitled to recover from Tenant each monthly Deficiency as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Owner’s right to collect the Deficiency for any subsequent month by a similar proceeding; and (4) whether or not Owner shall have collected any monthly Deficiencies as aforesaid, Owner shall be entitled to recover from Tenant, and Tenant shall pay to Owner, on demand, as Additional Rent in lieu of any further Deficiencies (other than the Default Expenses), as and for liquidated and agreed final damages and not as penalty, a sum equal to the amount by which the sum of the Rent reserved in this Lease for the period which otherwise would have constituted the unexpired portion of the Term (conclusively presuming the Additional Rent to be the same as was payable for the year immediately preceding such termination or re-entry) exceeds the then fair and reasonable rental value of the Premises for the same period, discounted to the then present value of such sum at the rate of four percent (4%), and less the aggregate amount of Deficiencies theretofore collected by Owner pursuant to the provisions of subdivision (3) above, for the same period; it being agreed and understood by Tenant that if before presentation of proof of such liquidated damages to any court, commission or tribunal, the Premises, or any part thereof, shall have been relet in a bona-fide arm’s length transaction by Owner for the period which otherwise would have constituted the unexpired portion of the Term, or any part thereof, the amount of rent reserved upon such reletting shall be deemed, prima facie, to be fair and reasonable rental value for the part of the whole of the Premises so relet during the term of the reletting.

Remedies of Owner. A. If an Event In the case of Default any default, re-entry, expiration and/or dispossession by summary proceedings or otherwise, (a) the rent, and additional rent, shall occur become due thereupon and be paid up to the time of such re-entry, dispossession and/or expiration, (b) Owner may relet the premises or any part or parts thereof, either in the name of Owner or otherwise, for a term or terms, which may at Owner’s option be less than or exceed the period which would otherwise have constituted the balance of the term of this Lease lease and may grant concessions or free rent or charge a higher rental than that in this lease, (c) Tenant or the legal representatives of Tenant shall also pay Owner as liquidated damages for the failure of Tenant to observe and perform said Tenant’s covenants herein contained, any deficiency between the rent hereby reserved and/or covenanted to be paid and the Term net amount, if any, of the rents collected on account of the subsequent lease or leases of the demised premises for each month of the period which would otherwise have constituted the balance of the term of this lease. The Owner must make good faith effort to re-let the premises. The failure of Owner to re-let the premises or any part or parts thereof shall expire not release or affect Tenant’s liability for damages. In computing such liquidated damages there shall be added to the said deficiency such expenses as Owner may incur in connection with re-letting, such as legal expenses, attorneys’ fees, brokerage, advertising and come for keeping the demised premises in good order or for preparing the same for re-letting. Any such liquidated damages shall be paid in monthly installments by Tenant on the rent day specified in this lease and any suit brought to an end collect the amount of the deficiency for any month shall not prejudice in any way the rights of Owner to collect the deficiency for any subsequent month by a similar proceeding. Owner, in putting the demised premises in good order or preparing the same for re-rental may, at Owner’s option, make such alterations, repairs, replacements, and/or decorations in the demised premises as provided Owner, in Article 14 hereofOwner’s sole judgment, considers advisable and necessary for the purpose of re-letting the demised premises, and the making of such alterations, repairs, replacements, and/or decorations shall not operate or be construed to release Tenant from liability hereunder as aforesaid. Owner shall in no event be liable in any way whatsoever for failure to re-let the demised premises, or by or under any summary proceeding or any other action or proceeding by Owner against Tenant or any person claiming by, through or under Tenant, or if Owner shall in the event that the demised premises are re-enter let, for failure to collect the Premises as provided rent thereof under such re-letting, and in Article 14no event shall Tenant be entitled to receive any excess, or by or under any summary proceeding or any other action or proceedingif any, respectively, then, in any of said events: (1) Tenant shall pay to Owner all Fixed Rent, Additional Rent and other charges such net rents collected over the sums payable under this Lease by Tenant to Owner hereunder. In the event of a breach or threatened breach by Tenant of any of the covenants or provisions hereof, Owner shall have the right of injunction and the right to the date upon which 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 Owner from any other remedy, in law or in equity. Whether or not Owner shall have collected any monthly deficiencies and expenses as set forth in Article 18 hereof, and provided Owner shall have terminated this Lease and evicted Tenant from the Term shall have expired or have been terminated and come to an end or the date of re-entry upon the Premises by Ownerdemised premises, as the case may be; (2) Owner shall shall, at its sole option, be entitled to retain all moniesrecover from Tenant, if any, paid by and Tenant to shall pay Owner, whether on demand, as advanced Rent, security deposit or otherwise; but such monies shall be credited by Owner against any damages payable by Tenant to Owner; (3) Tenant also shall be liable and for liquidated and shall pay to Owner as liquidated agreed final damages, any deficiency (a sum equal to the “Deficiency”) between amount by which the Rent reserved in this Lease fixed annual rental and additional rent, payable hereunder for the period which otherwise would have constituted the unexpired portion of the Term term of this lease (conclusively presuming the Additional Rent additional rent to be the same as was payable for the year immediately preceding such termination or re-entry) and the net amount, if any, of rents collected under any reletting of all or part of the Premises for any part of such period, after first deducting from the rents actually collected under any such reletting all of Owner’s expenses in connection with the termination of this Lease, and Owner’s re-entry upon the Premises and in connection with such reletting, including, without limitation, all repossession costs, brokerage commissions, reasonable attorneys’ fees, court costs and disbursements, alteration costs and other expenses of preparing the Premises for such reletting and the amount of rent concessions, construction allowance and the like granted in connection with such reletting (collectively, the “Default Expenses”); it being agreed and understood by Tenant that any such Deficiency shall be paid in monthly installments by Tenant on the days specified in this Lease for payment of installments of Fixed Rent, and that Owner shall be entitled to recover from Tenant each monthly Deficiency as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Owner’s right to collect the Deficiency for any subsequent month by a similar proceeding; and (4) whether or not Owner shall have collected any monthly Deficiencies as aforesaid, Owner shall be entitled to recover from Tenant, and Tenant shall pay to Owner, on demand, as Additional Rent in lieu of any further Deficiencies (other than the Default Expenses), as and for liquidated and agreed final damages and not as penalty, a sum equal to the amount by which the sum of the Rent reserved in this Lease for the period which otherwise would have constituted the unexpired portion of the Term (conclusively presuming the Additional Rent to be the same as was payable for the year immediately preceding such termination or re-entry) exceeds the then fair and reasonable rental value of the Premises demised remises for the same period, both discounted to the then present value of such sum worth at the rate of four eight (8%) percent (4%)per annum. If, and less the aggregate amount of Deficiencies theretofore collected by Owner pursuant to the provisions of subdivision (3) above, for the same period; it being agreed and understood by Tenant that if before presentation of proof of such liquidated and agreed final damages to any court, commission or tribunal, the Premisesdemised premises, or any part thereof, shall have been relet in a bona-fide arm’s length transaction by Owner for the period which otherwise would have constituted the unexpired portion of the Termterm of this lease, or any part thereof, the amount of rent reserved upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part of or the whole of the Premises demised premises so relet during the term of the reletting.

Remedies of Owner. A. If an Event In the case of Default any default, re-entry, expiration and/or dispossession by summary proceedings or otherwise, (a) the rent, and additional rent, shall occur become due thereupon and be paid up to the time of such re-entry, dispossession and/or expiration, (b) Owner may relet the premises or any part or parts thereof, either in the name of Owner or otherwise, for a term or terms, which may at Owner’s option be less than or exceed the period which would otherwise have constituted the balance of the term of this Lease lease and may grant concessions or free rent or charge a higher rental than that in this lease, (c) Tenant or the legal representatives of Tenant shall also pay Owner as liquidated damages for the failure of Tenant to observe and perform said Tenant’s covenants herein contained, any deficiency between the rent hereby reserved and/or covenanted to be paid and the Term net amount, if any, of the rents collected on account of the subsequent lease or leases of the demised premises for each month of the period which would otherwise have constituted the balance of the term of this lease. The Owner must make good faith effort to re-let the premises. The failure of Owner to re-let the premises or any part or parts thereof shall expire not release or affect Tenant’s liability for damages. In computing such liquidated damages there shall be added to the said deficiency such expenses as Owner may incur in connection with re-letting, such as legal expenses, attorneys’ fees, brokerage, advertising and come for keeping the demised premises in good order or for preparing the same for re-letting. Any such liquidated damages shall be paid in monthly installments by Tenant on the rent day specified in this lease and any suit brought to an end collect the amount of the deficiency for any month shall not prejudice in any way the rights of Owner to collect the deficiency for any subsequent month by a similar proceeding. Owner, in putting the demised premises in good order or preparing the same for re-rental may, at Owner’s option, make such alterations, repairs, replacements, and/or decorations in the demised premises as provided Owner, in Article 14 hereofOwner’s sole judgment, considers advisable and necessary for the purpose of re-letting the demised premises, and the making of such alterations, repairs, replacements, and/or decorations shall not operate or be construed to release Tenant from liability hereunder as aforesaid. Owner shall in no event be liable in any way whatsoever failure to re-let the demised premises, or by or under any summary proceeding or any other action or proceeding by Owner against Tenant or any person claiming by, through or under Tenant, or if Owner shall in the event that the demised premises are re-enter let, for failure to collect the Premises as provided rent thereof under such re-letting, and in Article 14no event shall Tenant be entitled to receive any excess, or by or under any summary proceeding or any other action or proceedingif any, respectively, then, in any of said events: (1) Tenant shall pay to Owner all Fixed Rent, Additional Rent and other charges such net rents collected over the sums payable under this Lease by Tenant to Owner hereunder. In the event of a breach or threatened breach by Tenant of any of the covenants or provisions hereof, Owner shall have the right of injunction and the right to the date upon which 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 Owner from any other remedy, in law or in equity. Whether or not Owner shall have collected any monthly deficiencies and expenses as set forth in Article 18 hereof, and provided Owner shall have terminated this Lease and evicted Tenant from the Term shall have expired or have been terminated and come to an end or the date of re-entry upon the Premises by Ownerdemised premises, as the case may be; (2) Owner shall shall, at its sole option, be entitled to retain all moniesrecover from Tenant, if any, paid by and Tenant to shall pay Owner, whether on demand, as advanced Rent, security deposit or otherwise; but such monies shall be credited by Owner against any damages payable by Tenant to Owner; (3) Tenant also shall be liable and for liquidated and shall pay to Owner as liquidated agreed final damages, any deficiency (a sum equal to the “Deficiency”) between amount by which the Rent reserved in this Lease fixed annual rental and additional rent, payable hereunder for the period which otherwise would have constituted the unexpired portion of the Term term of this lease (conclusively presuming the Additional Rent additional rent to be the same as was payable for the year immediately preceding such termination or re-entry) and the net amount, if any, of rents collected under any reletting of all or part of the Premises for any part of such period, after first deducting from the rents actually collected under any such reletting all of Owner’s expenses in connection with the termination of this Lease, and Owner’s re-entry upon the Premises and in connection with such reletting, including, without limitation, all repossession costs, brokerage commissions, reasonable attorneys’ fees, court costs and disbursements, alteration costs and other expenses of preparing the Premises for such reletting and the amount of rent concessions, construction allowance and the like granted in connection with such reletting (collectively, the “Default Expenses”); it being agreed and understood by Tenant that any such Deficiency shall be paid in monthly installments by Tenant on the days specified in this Lease for payment of installments of Fixed Rent, and that Owner shall be entitled to recover from Tenant each monthly Deficiency as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Owner’s right to collect the Deficiency for any subsequent month by a similar proceeding; and (4) whether or not Owner shall have collected any monthly Deficiencies as aforesaid, Owner shall be entitled to recover from Tenant, and Tenant shall pay to Owner, on demand, as Additional Rent in lieu of any further Deficiencies (other than the Default Expenses), as and for liquidated and agreed final damages and not as penalty, a sum equal to the amount by which the sum of the Rent reserved in this Lease for the period which otherwise would have constituted the unexpired portion of the Term (conclusively presuming the Additional Rent to be the same as was payable for the year immediately preceding such termination or re-entry) exceeds the then fair and reasonable rental value of the Premises demised premises for the same period, both discounted to the then present value of such sum worth at the rate of four eight (8%) percent (4%)per annum. If, and less the aggregate amount of Deficiencies theretofore collected by Owner pursuant to the provisions of subdivision (3) above, for the same period; it being agreed and understood by Tenant that if before presentation of proof of such liquidated and agreed final damages to any court, commission or tribunal, the Premisesdemised premises, or any part thereof, shall have been relet in a bona-fide arm’s length transaction by Owner for the period which otherwise would have constituted the unexpired portion of the Termterm of this lease, or any part thereof, the amount of rent reserved upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part of or the whole of the Premises demised premises so relet during the term of the reletting.

Remedies of Owner. A. If an Event In the case of Default any default, re-entry, expiration and/or dispossess by summary proceedings or otherwise, (a) the rent, and additional rent, shall occur become due thereupon and this Lease and be paid up to the Term shall expire and come to an end as provided in Article 14 hereoftime of such re-entry, or by or under any summary proceeding dispossess and/or expiration, (b) Owner may relet the premises or any other action part or proceeding by parts thereof, either in the name of Owner against or otherwise, for a term or terms, which may at Owner's option be less than or exceed the period which would otherwise have constituted the balance of the term of this lease and may grant concessions or free rent or charge a higher rental than that in this lease, (c) Tenant or any person claiming by, through or under Tenant, or if Owner shall re-enter the Premises as provided in Article 14, or by or under any summary proceeding or any other action or proceeding, respectively, then, in any legal representatives of said events: (1) Tenant shall also pay to Owner all Fixed Rent, Additional Rent and other charges payable under this Lease by as damages for the failure of Tenant to Owner to the date upon which this Lease observe and the Term shall have expired or have been terminated and come to an end or the date of re-entry upon the Premises by Owner, as the case may be; (2) Owner shall be entitled to retain all monies, if any, paid by Tenant to Owner, whether as advanced Rent, security deposit or otherwise; but such monies shall be credited by Owner against any damages payable by Tenant to Owner; (3) Tenant also shall be liable for and shall pay to Owner as liquidated damagesperform said Tenant's covenants herein contained, any deficiency (the “Deficiency”) between the Rent rent hereby reserved in this Lease for the period which otherwise would have constituted the unexpired portion of the Term (conclusively presuming the Additional Rent and/or covenanted to be the same as was payable for the year immediately preceding such termination or re-entry) paid and the net amount, if any, of the rents collected under any reletting of all or part on account of the Premises subsequent lease or leases of the demised premises for each month of the period which would otherwise have constituted the balance of the term of this lease. The failure of Owner to re-let the premises or any part of or parts thereof shall not release or affect Tenant's liability for damages. In computing such period, after first deducting from damages there shall be added to the rents actually collected under any said deficiency such reletting all of Owner’s expenses as Owner may incur in connection with the termination of this Lease, and Owner’s re-entry upon the Premises and in connection with letting, such relettingas legal expenses, including, without limitation, all repossession costs, brokerage commissions, reasonable attorneys’ ' fees, court costs brokerage, advertising and disbursements, alteration costs and other expenses of for keeping the demised premises in good order or for preparing the Premises same for re-letting. Any such reletting and the amount of rent concessions, construction allowance and the like granted in connection with such reletting (collectively, the “Default Expenses”); it being agreed and understood by Tenant that any such Deficiency damages shall be paid in monthly installments by Tenant on the days rent day specified in this Lease for payment of installments of Fixed Rent, lease and that Owner shall be entitled to recover from Tenant each monthly Deficiency as the same shall arise, and no any suit brought to collect the amount of the Deficiency deficiency for any month shall not prejudice Owner’s right in any way the rights of Owner to collect the Deficiency deficiency for any subsequent month by a similar proceeding; . Owner, in putting the demised premises in good order or preparing the same for re-rental may, at Owner's option, make such reasonable alterations, repairs, replacements, and/or decorations in the demised premises as Owner, in Owner's sole judgment, considers advisable and (4) whether necessary for the purpose of re-letting the demised premises, and the making of such alterations, repairs, replacements, and/or decorations shall not operate or not be construed to release Tenant from liability hereunder as aforesaid. Owner agrees to mitigate damages. Owner shall in no event be liable in any way whatsoever for failure to re-let the demised premises, or in the event that the demised premises are re-let, for failure to collect the rent thereof under such re-letting, and in no event shall Tenant be entitled to receive any excess, if any, of such net rents collected over the sums payable by Tenant to Owner hereunder. In the event of a default by Tenant of any of the covenants or provisions hereof, Owner shall have collected the right of injunction and the right to invoke any monthly Deficiencies remedy allowed at law or in equity as aforesaid, Owner shall be entitled to recover from Tenant, and Tenant shall pay to Owner, on demand, as Additional Rent in lieu of any further Deficiencies (other than the Default Expenses), as and for liquidated and agreed final damages and not as penalty, a sum equal to the amount by which the sum of the Rent reserved in this Lease for the period which otherwise would have constituted the unexpired portion of the Term (conclusively presuming the Additional Rent to be the same as was payable for the year immediately preceding such termination or if re-entry) exceeds the then fair , summary proceedings and reasonable rental value other remedies were not herein provided for. Mention in this lease of the Premises for the same period, discounted to the then present value of such sum at the rate of four percent (4%), and less the aggregate amount of Deficiencies theretofore collected by Owner pursuant to the provisions of subdivision (3) above, for the same period; it being agreed and understood by Tenant that if before presentation of proof of such liquidated damages to any court, commission or tribunal, the Premises, or any part thereofparticular remedy, shall have been relet not preclude Owner from any other remedy, in a bona-fide arm’s length transaction by Owner for the period which otherwise would have constituted the unexpired portion of the Term, law or any part thereof, the amount of rent reserved upon such reletting shall be deemed, prima facie, to be fair and reasonable rental value for the part of the whole of the Premises so relet during the term of the relettingin equity.