Remedies of Sublessor. In the event of Subtenant's default or the occurrence or existence of an Event of Default, Subtenant shall pay to Sublessor, on demand, such expenses as Sublessor may incur, including, without limitation, attorneys' fees, court costs, disbursements, and any and all other costs incurred by Sublessor in enforcing the performance of any obligation of Subtenant under this Sublease. If an Event of Default shall occur, Sublessor shall have the following rights and remedies, in addition to all rights and remedies available under law or equity: (i) Sublessor may declare this Sublease terminated upon written notice to Subtenant; and/or (ii) Sublessor or its agents, servants, representatives, successors or assigns may, immediately or at any time thereafter, re-enter and resume possession of the Office Space and remove all persons and property therefrom, either by summary dispossess proceedings or by a suitable action or proceeding at law, or by force or otherwise, without being liable for any damages therefor, and no such re-entry shall be deemed an acceptance or surrender of this Sublease; and/or (iii) Sublessor may, but shall have no obligation to, in its own name, but as agent for Subtenant if this Sublease is not terminated, relet the whole or any portion of the Office Space for any period equal to or greater or less than the period which would have constituted the balance of the Term, for any sum which Sublessor may deem reasonable, to any tenant(s) which Sublessor may deem appropriate, and Sublessor may grant concessions, including free rent. In the event of any breach or threatened breach by Subtenant of any of the covenants or provisions of this Sublease, Sublessor shall have the right of injunction and the right to invoke any remedy allowed at law or in equity; mention in this Sublease of any particular remedy shall not preclude Sublessor from any other remedy at law or in equity.
Appears in 1 contract
Remedies of Sublessor. In Following any material default by Subtenant as defined in Section 14.2 hereof which is not cured within the event time set forth therein, and at any time thereafter, and without limiting Sublessor's exercise of Subtenant's default any right or the occurrence or existence of an Event of Default, Subtenant shall pay to Sublessor, on demand, such expenses as remedy which Sublessor may incur, including, without limitation, attorneys' fees, court costs, disbursements, and any and all other costs incurred by Sublessor have in enforcing the performance of any obligation of Subtenant under this Sublease. If an Event of Default shall occurlaw or equity, Sublessor shall have the following rights and remedies, in addition to all rights and remedies available under law or equity: (i) :
14.3.1 Sublessor may declare continue this Sublease terminated upon written notice in full force and effect, so long as Sublessor does not terminate Subtenant's right to Subtenant; and/or (ii) Sublessor or its agents, servants, representatives, successors or assigns may, immediately or at any time thereafter, re-enter and resume possession of the Office Space and remove all persons and property therefrom, either by summary dispossess proceedings or by a suitable action or proceeding at law, or by force or otherwise, without being liable for any damages thereforpossession, and no such re-entry shall be deemed an acceptance or surrender of this Sublease; and/or (iii) Sublessor may, but shall have no obligation to, in its own name, but as agent for Subtenant if this Sublease is not terminated, relet the whole or any portion of the Office Space for any period equal to or greater or less than the period which would have constituted the balance of the Term, for any sum which Sublessor may deem reasonable, to any tenant(s) which Sublessor may deem appropriate, and Sublessor may grant concessions, including free rent. In the event of any breach or threatened breach by Subtenant of any of the covenants or provisions of this Sublease, Sublessor shall have the right of injunction to collect rent as and the when due.
14.3.2 Sublessor may terminate Subtenant's right to invoke possession of the Premises by any remedy allowed at law or lawful means, in equity; mention in which case this Sublease shall terminate, and Subtenant shall immediately surrender possession of any particular remedy the Premises to Sublessor. In such event Sublessor shall not preclude be entitled to recover from Subtenant:
(a) The worth at the time of award of the unpaid rent which has been earned at the time of termination; plus
(b) The worth at the time of award of the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of such rental loss that Subtenant proves reasonably could have been avoided; plus
(c) The worth at the time of award of the amount by which the unpaid rent for the balance of the term after the time of award exceeds the amount of such rental loss that Subtenant proves could be reasonably avoided; plus
(d) Any other amount necessary to compensate Sublessor from any other remedy for all the detriment proximately caused by Subtenant's failure to perform its obligations under this Sublease or which in the ordinary course of events would be likely to result therefrom. The "worth at law or the time of award" of the amounts referred to in equitySections 14.3.2(a), (b) and (c) above shall have the meaning defined in Section 1951.2 of the California Civil Code.
Appears in 1 contract
Samples: Sublease Agreement (Cohu Inc)
Remedies of Sublessor. In the event that Subtenant defaults beyond applicable notice and grace periods, if any, in its obligations under this Sublease, Sublessor shall be entitled to exercise all rights available under the terms of Subtenant's default or the occurrence or existence of an Event of Default, Subtenant shall pay to Sublessor, on demand, such expenses as Sublessor may incur, this Sublease including, without limitation, attorneys' fees, court costs, disbursementsany remedy provided for in the Prime Lease, and any and all other costs incurred by Sublessor in enforcing the performance of any obligation of Subtenant under this Sublease. If an Event of Default shall occur, Sublessor shall have the following rights and remedies, in addition to all rights and remedies available under law or equity: (i) Sublessor may declare this Sublease terminated upon written notice to Subtenant; and/or (ii) Sublessor or its agents, servants, representatives, successors or assigns may, immediately or at any time thereafter, re-enter and resume possession of the Office Space and remove all persons and property therefrom, either by summary dispossess proceedings or by a suitable action or proceeding at law, or by force or otherwise, without being be liable for any damages thereforset forth in the Prime Lease. If Sublessor elects to cancel this Sublease or dispossess Subtenant, and no such Sublessor shall be entitled to re-entry shall be deemed an acceptance or surrender of this Sublease; and/or (iii) Sublessor may, but shall have no obligation to, let the Subleased Premises in its own name, but as agent for Subtenant if this Sublease is not terminated, relet accordance with the whole or any portion terms of the Office Space for any period equal to or greater or less than the period which would have constituted the balance of the Term, for any sum which Sublessor may deem reasonable, to any tenant(s) which Sublessor may deem appropriate, and Sublessor may grant concessions, including free rentPrime Lease. In the event of any breach or threatened breach by Subtenant of any of the covenants or provisions of this Subleasesuch 30 32 a re-letting, Sublessor shall have be entitled to liquidated damages, payable within three (3) days of Sublessor's demand consisting of the right present value (discounted at a discount rate equal to the rate on U.S. Treasury obligations selected by Sublessor having a maturity comparable to the Expiration Date) of injunction the difference between the stream of monthly Sublease Rent payments which Sublessor is entitled to collect from Subtenant through the end of the term of this Sublease and the right stream of monthly base annual rental payments, if any, which Sublessor becomes contractually entitled to invoke any remedy allowed at law collect as a result of the re-letting through the end of the Sublease term. In the event that a default by Subtenant results in the termination of the Prime Lease prior to its ordinary expiration date or in equity; mention in this Sublease any other liability of any particular remedy Sublessor to Prime Landlord, Subtenant shall not preclude fully indemnify Sublessor from and against any payments which Sublessor is required to make to the Prime Landlord or any other remedy at law subtenant of the Premises in connection with such termination and any loss or in equity.liability resulting from Subtenant's default, provided, however, that Subtenant's maximum liability here-
Appears in 1 contract
Samples: Sublease (Bisys Group Inc)
Remedies of Sublessor. In Upon the occurrence of any event of Subtenant's default or the occurrence or existence of an Event of Default, Subtenant shall pay to Sublessor, on demand, such expenses as Sublessor may incur, including, without limitation, attorneys' fees, court costs, disbursements, and any and all other costs incurred by Sublessor in enforcing the performance of any obligation of Subtenant under this Sublease. If an Event of Default shall occurset forth above, Sublessor shall have the following rights and remedies, in addition to all rights and remedies available under law those allowed by law, any one or equity: more of which may be exercised without further notice to or demand upon Sublessee:
(i) Sublessor may declare this Sublease terminated upon written notice reenter the Sublet Premises and cure any default of Sublessee, in which event Sublessee shall reimburse Sublessor as additional fees for any costs and expenses which Sublessor may incur to Subtenantcure such default; and/or and Sublessor shall not be liable to Sublessee for any loss or damage which Sublessee may sustain by reason of Sublessor's action, unless such loss or damage was caused by Sublessor's gross negligence.
(ii) Sublessor may sue xxx injunctive relief or its agentsto recover damages for any loss resulting from the breach and may accelerate all Rent without any abatement or setoff.
(iii) Sublessor may terminate this Sublease as of the date of such default, servantsin which event:
(a) Sublessor may reenter the Sublet Premises with or without process of law using such force as may be necessary, representativesand remove all persons, successors fixtures and chattels therefrom and Sublessor shall not be liable for any damages resulting therefrom. Upon the happening of any one (1) or assigns maymore events of default, Sublessor may repossess the Sublet Premises by forcible entry or detainer suit, or otherwise, without demand or notice of any kind to Sublessee (except as hereinabove expressly provided for) and without terminating this Sublease and (without any obligation to do so) may relicense all or any part of the Sublet Premises for such fees and upon such terms as shall be satisfactory to Sublessor (including the right to relicense the Sublet Premises for a term greater or lesser than that under the Sublease term, and the right to relicense the Sublet Premises as a part of a larger area, and the right to change the character or use made of the Sublet Premises). For the purpose of such relicensing, Sublessor may decorate or make any repairs, changes, alterations or additions in or to the Sublet Premises that may be necessary or convenient. In the event of any termination of this Sublease or repossession of any of the Sublet Premises by reason of the occurrence of an event of default, Sublessee shall pay all sums required to be paid by Sublessee to and including the date of such termination of repossession. Sublessee hereby agrees to be and remain liable for all sums aforesaid; and Sublessor may recover such damages from Sublessee and institute and maintain successive actions or legal proceedings against Sublessee for the recovery of such damages. Nothing herein contained shall be deemed to require Sublessor to wait to begin such action or other legal proceedings until the date when the Term would have expired by limitation had there been no such event of default.
(b) The obligation of Sublessee to pay all sums required to be paid by Sublessee hereunder during the term hereof shall not be deemed to be waived, released or terminated by reason of the service upon Sublessee of any statutory or other notice to collect, notice that the tenancy hereby created will be terminated on the date therein set forth, demand for possession, the institution of any action of forcible detainer or ejectment, or the entry of any judgment for possession that may be rendered in any such action. In the event of any event of default hereunder, Sublessor may immediately or at any time thereafter, re-enter without notice, cure such breach for the account and resume at the expense of Sublessee. If Sublessor at any time by reason of such breach, is compelled to pay, or elects to pay, any sum of money or do any act which will require the payment of any sum of money, or incurs any expense, including reasonable attorney's fees, in instituting or prosecuting any action or proceedings to enforce Sublessor's rights hereunder, the sum or sums so paid by Sublessor, with interest thereon at the rate of interest announced from time to time by the LaSalle Bank National Association as its prime rate, shall be deemed to be additional fee hereunder and shall be due from Sublessee to Sublessor on the first day of the month following the payment of such respective sums or expenses. For purposes of this Subsection, any expense incurred by Sublessor for obtaining any insurance that Sublessee is required to obtain under this Sublease shall be deemed to be that amount that is the cost of such insurance actually incurred by Sublessor. No receipt of money by Sublessor from Sublessee after the termination of this Sublease or after the service of any notice or after the commencement of any suit, or after final judgment for possession of the Office Space and remove all persons and property therefromSublet Premises, either by summary dispossess proceedings shall renew, reinstate, continue or by a suitable action or proceeding at law, or by force or otherwise, without being liable for any damages therefor, and no such re-entry shall be deemed an acceptance or surrender extend the terms of this Sublease; and/or (iii) Sublessor maySublease or affect any such notice, but shall have no obligation to, in its own name, but as agent for Subtenant if this Sublease is not terminated, relet the whole demand or any portion of the Office Space for any period equal to or greater or less than the period which would have constituted the balance of the Term, for any sum which Sublessor may deem reasonable, to any tenant(s) which Sublessor may deem appropriate, and Sublessor may grant concessions, including free rent. In the event of any breach or threatened breach by Subtenant of any of the covenants or provisions of this Sublease, Sublessor shall have the right of injunction and the right to invoke any remedy allowed at law or in equity; mention in this Sublease of any particular remedy shall not preclude Sublessor from any other remedy at law or in equitysuit.
Appears in 1 contract
Samples: Sublease (Inland Real Estate Corp)
Remedies of Sublessor. In Upon the occurrence of any event of Subtenant's default or the occurrence or existence of an Event of Default, Subtenant shall pay to Sublessor, on demand, such expenses as Sublessor may incur, including, without limitation, attorneys' fees, court costs, disbursements, and any and all other costs incurred by Sublessor in enforcing the performance of any obligation of Subtenant under this Sublease. If an Event of Default shall occurset forth above, Sublessor shall have the following rights and remedies, in addition to those allowed by law, any one or more of which may be exercised without further notice to or demand upon Sublessee:
(a) Sublessor may reenter the Sublet Premises and cure any default of Sublessee, in which event Sublessee shall reimburse Sublessor as additional fees for any costs and expenses which Sublessor may incur to cure such default; and Sublessor shall not be liable to Sublessee for any loss or damage which Sublessee may sustain by reason of Sublessor’s action, unless such loss or damage was caused by Sublessor’s gross negligence. Any reentry or repossession of the Sublet Premises by Sublessor or termination of this Sublease by Sublessor for default by Sublessee shall not work a forfeiture of the Rents to be paid and the covenants to be performed by Sublessee for the full Term hereof which shall survive any such reentry, repossession or termination.
(b) Sublessor may xxx for injunctive relief or to recover damages for any loss resulting from the breach and may accelerate all rights and remedies available under law Rent without any abatement or equity: setoff.
(c) Sublessor may terminate this Sublease as of the date of such default, in which event:
(i) Sublessor may declare reenter the Sublet Premises with process of law using such force as may be necessary, and remove all persons, fixtures and chattels therefrom and Sublessor shall not be liable for any damages resulting therefrom. Upon the happening of any one (1) or more events of default, Sublessor may repossess the Sublet Premises by forcible entry or detainer suit, or otherwise, without demand or notice of any kind to Sublessee (except as hereinabove expressly provided for) and without terminating this Sublease terminated and (without any obligation to do so) may relet all or any part of the Sublet Premises for such fees and upon written notice such terms as shall be satisfactory to Subtenant; and/or Sublessor (including the right to relet the Sublet Premises for a term greater or lesser than that under the Sublease term, and the right to relet the Sublet Premises as a part of a larger area, and the right to change the character or use made of the Sublet Premises). For the purpose of such reletting, Sublessor may decorate or make any repairs, changes, alterations or additions in or to the Sublet Premises that may be necessary or convenient. In the event of any termination of this Sublease or repossession of any of the Sublet Premises by reason of the occurrence of an event of default, Sublessee shall pay all sums required to be paid by Sublessee to and including the date of such termination of repossession and, in addition, Sublessor shall be entitled to recover as damages for loss of the bargain and not as a penalty (i) the aggregate sum which at the time of such termination represents the excess, if any, of the present value of the aggregate rents which would have been payable after the termination date had this Sublease not been terminated, including, without limitation, Base Rent at the annual rate or respective annual rates for the remainder of the Term provided for in this Sublease and the amount projected by Sublessor to represent Additional Rent for the remainder of the Term over the then present value of the then aggregate fair rental value of the Sublet Premises for the balance of the Term, such present worth to be computed in each case on the basis of a ten percent (10%) per annum discount from the respective dates upon which such rentals would have been payable hereunder had this Sublease not been terminated, and (ii) any damages in addition thereto, including without limitation reasonable attorneys’ fees and court costs, which Sublessor sustains as a result of the breach of any of the covenants of this Sublease other than for the payment of Base Rent. Sublessee hereby agrees to be and remain liable for all sums aforesaid; and Sublessor may recover such damages from Sublessee and to institute and maintain successive actions or its agentslegal proceedings against Sublessee for the recovery of such damages. Nothing herein contained shall be deemed to require Sublessor to wait to begin such action or other legal proceedings until the date when the Term would have expired by limitation had there been no such event of default.
(ii) The obligation of Sublessee to pay all sums required to be paid by Sublessee hereunder during the term hereof shall not be deemed to be waived, servantsreleased or terminated by reason of the service upon Sublessee of any statutory or other notice to collect, representativesnotice that the tenancy hereby created will be terminated on the date therein set forth, successors demand for possession, the institution of any action of forcible detainer or assigns mayejectment, or the entry of any judgment for possession that may be rendered in any such action. In the event of any event of default hereunder, Sublessor may immediately or at any time thereafter, re-enter without notice, cure such breach for the account and resume at the expense of Sublessee. If Sublessor at any time by reason of such breach, is compelled to pay, or elects to pay, any sum of money or do any act which will require the payment of any sum of money, or incurs any expense, including reasonable attorneys’ fees, in instituting or prosecuting any action or proceedings to enforce Sublessor’s rights hereunder, the sum or sums so paid by Sublessor, with interest thereon at the rate of eighteen percent (18%) per annum from the date of payment thereof, shall be deemed to be additional fee hereunder and shall be due from Sublessee to Sublessor on the first day of the month following the payment of such respective sums or expenses. No receipt of money by Sublessor from Sublessee after the termination of this Sublease or after the service of any notice or after the commencement of any suit, or after final judgment for possession of the Office Space Sublet Premises, shall renew, reinstate, continue or extend the terms of this Sublease or affect any such notice, demand or suit.
(d) Sublessor shall use commercially reasonable efforts to mitigate any damages resulting from a default by Sublessee under this Sublease. Sublessor’s obligation to mitigate damages after a default by Sublessee under this Sublease shall be satisfied in full if Sublessor undertakes to Sublease the Premises to another sublessee (a “Substitute Sublessee”) in accordance with the following criteria:
(i) Sublessor shall have no obligation to solicit or entertain negotiations with any other prospective sublessees for the Sublet Premises until Sublessor obtains full and remove all persons complete possession of the Sublet Premises including, without limitation, the final and property therefromunappealable legal right to relet the Sublet Premises free of any possessory claim of Sublessee;
(ii) Sublessor shall not be obligated to sublease or show the Sublet Premises, either by summary dispossess proceedings or by on a suitable action or proceeding at lawpriority basis, or by force offer the Sublet Premises to a prospective sublessee when other premises in the Premises suitable for that prospective sublessee’s use are (or otherwise, without being liable for any damages therefor, and no such re-entry shall be deemed an acceptance or surrender of this Sublease; and/or soon will be) available;
(iii) Sublessor may, but shall have no obligation to, in its own name, but as agent not be obligated to sublease the Sublet Premises to a Substitute Sublessee for Subtenant if this Sublease is not terminated, relet the whole or any portion of the Office Space for any period equal to or greater or a rental less than the period which would have constituted current fair market rental then prevailing for similar uses within the balance Premises, nor shall Sublessor be obligated to enter into a new sublease under other terms and conditions that are unacceptable to Sublessor under Sublessor’s then current leasing policies for comparable space in the Premises;
(iv) Sublessor shall not be obligated to enter into a sublease with a Substitute Sublessee whose use would:
(1) violate any restriction, covenant, or requirement contained in the sublease of another sublessee of the TermPremises;
(2) adversely affect the reputation of the Premises; or
(3) be incompatible with the operation of the Premises as an office building complex; and
(v) Sublessor shall not be obligated to enter into a sublease with any proposed Substitute Sublessee which does not have, for any sum which Sublessor may deem reasonablein Sublessor’s reasonable opinion, sufficient financial resources to any tenant(s) which Sublessor may deem appropriatepay all amounts under its sublease as and when due, and Sublessor may grant concessions, including free rent. In to operate the event of any breach or threatened breach by Subtenant of any of the covenants or provisions of this Sublease, Sublessor shall have the right of injunction and the right to invoke any remedy allowed at law or Sublet Premises in equity; mention in this Sublease of any particular remedy shall not preclude Sublessor from any other remedy at law or in equitya first class manner.
Appears in 1 contract
Samples: Sublease (Inland Western Retail Real Estate Trust Inc)
Remedies of Sublessor. In the event of Subtenant's default or Upon the occurrence of any default by Sublessee, Sublessor shall have any or existence all of an Event of Default, Subtenant the following rights and remedies in addition to those rights and remedies available at law or in equity and those remedies set forth in the Xxxxxxxxx as if Sublessor were acting as the Overlandlord under the Xxxxxxxxx. All remedies shall pay to Sublessor, on demand, such expenses as be cumulative and non-exclusive.
(a) Sublessor may incuraccelerate the Rent for the entire balance of the Term of this Sublease or any part thereof, includingand any costs and sheriffs, without limitationxxxxxxxx'x, constable's or other official's commissions, whether chargeable to Sublessor or Sublessee, as if by the terms of this Sublease said balance of the Rent and such other charges and expenses were payable in advance on the date of such acceleration, provided that such amount shall be discounted to its then present value in accordance with accepted financial practices using an annual rate of interest of 10%.
(b) Sublessor may cure any such default on behalf of Sublessee, in which event Sublessee shall pay, as additional rent, all costs and expenses incurred by Sublessor in curing such default, including reasonable attorneys' fees, court costs, disbursements, and any and all other costs incurred by to Sublessor in enforcing together with the performance next monthly installment of any obligation of Subtenant under this Sublease. If an Event of Default shall occur, Sublessor shall have the following rights and remedies, in addition to all rights and remedies available under law or equity: Fixed Minimum Rent.
(ic) Sublessor may declare terminate this Sublease terminated immediately upon written notice of such termination to Subtenant; and/or Sublessee.
(iid) Sublessor or its agents, servants, representatives, successors or assigns may, immediately or at any time thereafter, may re-enter and resume possession of the Office Space and remove all persons and property therefrom, either by summary dispossess proceedings or by a suitable action or proceeding at law, or by force or otherwiseSublet Premises, without being liable for any damages liability to prosecution or action therefor, and no may distrain for rent and/or relet the Sublet Premises, as agent of Sublessee, for any unexpired portion of the term and receive the rent and other payments therefor. No such re-entry or taking possession of the Sublet Premises by Sublessor shall be deemed construed as an acceptance election on its part to terminate this Sublease unless written notice of such intention shall be given to Sublessee or surrender unless the termination has been decreed by a court of competent jurisdiction. Notwithstanding any reletting without termination, Sublessor may at any time thereafter elect to terminate this Sublease for such previous breach.
(e) Whether or not Sublessor elects to re-enter, as provided above or to take possession pursuant to legal proceedings or pursuant to any notice provided for by law, Sublessor may from time to time without terminating this Sublease, make such alterations and repairs as may be necessary in order to re-let the Sublet Premises and re-let said Sublet Premises or any part thereof upon such term or terms (which may be for a period extending beyond the term of this Sublease) and at such rentals and upon such other terms and conditions as Sublessor in its sole discretion may deem advisable. Upon each reletting, all rentals received by Sublessor from such reletting shall be applied, first, to the payment of any amounts other than Rent due hereunder from Sublessee to Sublessor; and/or second, to the payment of any costs and expenses of such reletting, including brokerage fees and costs of alterations and repairs; third, to the payment of rent due and unpaid hereunder; and the balance, if any, shall be held by Sublessor and applied in payment of future rent as same may become due and payable hereunder. If the rentals received from reletting during any month are less than rent and other sums to be paid during that month by Sublessee hereunder, Sublessee shall pay any such deficiency to Sublessor.
(iiif) Sublessor may, but shall have no obligation toto re-let the Sublet Premises or otherwise mitigate its damages hereunder.
(g) As security for the rent, in its own nameSublessee grants, but bargains and sells to Sublessor all property of every kind, on or to be brought on the Sublet Premises, and whenever rent, or anything reserved as agent for Subtenant if this Sublease rent, is not terminatedunpaid, relet the whole or any portion of the Office Space for any period equal to or greater or less than the period which would have constituted the balance of the Term, for any sum which Sublessor may deem reasonableseize or distrain said property, to any tenant(s) which Sublessor may deem appropriateon or off the Sublet Premises, and Sublessor may grant concessions, including free rent. In sell the event of any breach same on due legal notice for all rent or threatened breach by Subtenant of any of other payments due and hold the covenants or provisions of this Sublease, Sublessor shall have the right of injunction and the right to invoke any remedy allowed at law or in equity; mention in this Sublease of any particular remedy shall not preclude Sublessor from any other remedy at law or in equitysame as security.
Appears in 1 contract
Samples: Sublease Agreement (Ramp Corp)
