Remedies to Default. In the event of default by the Subtenant the Landlord will provide the Tenant with written notice of this default and the Tenant will have full rights to commence all actions to recover possession of the Premises (in the name of the Landlord, if necessary). This agreement will immediately become null and void and the Tenant will automatically claim right to the Security Deposit. In the event that that Subtenant refuses to vacant the premises and is in default, the Tenant will commence eviction proceedings. A Non-Payment Petition and a Notice of Petition will be filed with the housing court. The Subtenant will receive copies of the court paper in the form of a service and be required to attend housing court. In the event of default by the Tenant, this agreement will immediately become null and void and the Subtenant will automatically claim right to the Security Deposit Termination Notice. Subtenant’s tenancy will terminate on the ending date listed above unless either party requests to change the ending date and both parties agree. Request to shorten or extend the length of the lease must be made with 30 days notice.
Remedies to Default. If the Sublessee is in default, then this agreement will immediately become null and void and the Sublessor will automatically claim right to the Security Deposit.The Sublessee will be required to assist in finding a replacement sublessee by: a) cleaning the unit and keeping it clean b) coordinating viewing times with interested renters and showing the unit c) paying for any expenses incurred by these activities.7. Nonpayment. In the event that any rent payment required to be paid by the Sublessee is not paid in full by the second day of each month the sublessee shall pay to the Sublessor, in addition to such payment or other charges due hereunder, an initial late fee as additional rent in the amount of 5% of the monthly rent amount. Further, a subsequent late fee of $20.00 per day will be incurred by the Sublessee for every day payment is delayed after the 2nd day of each month.The Sublessee’s failure to pay the rent by the 20th day of the month will trigger eviction proceedings.
Remedies to Default. If the Sublessee is in default, then this agreement will immediately become null and void and the Sublessor will automatically claim right to the Security Xxxxxxx.Xx many states, a stay of more than 30 days creates a residential tenancy. This means that if the sublessee refuses to pay rent and refuses to leave, your only recourse is to evict them by going to housing xxxxx.Xxx thing you can do to prevent this is include a term in your lease that outlines the steps you are prepared to take in case of nonpayment. Here is an example:7. Nonpayment. In the event that any rent payment required to be paid by the Sublessee is not paid in full by the second day of each month the sublessee shall pay to the Sublessor, in addition to such payment or other charges due hereunder, an initial late fee as additional rent in the amount of 5% of the monthly rent amount.
Remedies to Default. In case of default as described in Section 11.2 of the original Lease, the LESSOR shall have the right to the following remedies which are intended to e cumulative and in addition to any other remedies provided under applicable law: LESSOR INITIAL KRV LESSEE INITIAL DN --- -- Exhibit B
Remedies to Default. The defaulting party has 30 days from the date of written notice to remedy any default. In the event that the defaulting party does not remedy the properly noticed default, the Secured Party may seek to convert the series E preferred stock into the common stock of the company equal to no less than 85% of the then outstanding stock, reduced by the prorate percentage of series E preferred shareholders representing shares that do not elect to convert.
Remedies to Default. If the Sublessee is in default, then this agreement will immediately become null and void and the Sublessor will automatically claim right to the Security Xxxxxxx.Xx many states, a stay of more than 30 days creates a residential tenancy. This means that if the sublessee refuses to pay rent and refuses to leave, your only recourse is to evict them by going to housing xxxxx.Xxx thing you can do to prevent this is include a term in your lease that outlines the steps you are prepared to take in case of nonpayment. Here is an example:7. Nonpayment. In the event that any rent payment required to be paid by the Sublessee is not paid in full by the second day of each month the sublessee shall pay to the Sublessor, in addition to such payment or other charges due hereunder, an initial late fee as additional rent in the amount of 5% of the monthly rent amount. Further, a subsequent late fee of $20.00 per day will be incurred by the Sublessee for every day payment is delayed after the 2nd day of each month.The Sublessee’s failure to pay the rent by the 20th day of the month will trigger eviction proceedings. A Non-Payment Petition and a Notice of Petition will be filed with the housing court. The Sublessee will receive copies of the court paper in the form of a service and be required to attend housing xxxxx.Xxxxxxxx DepositsYou should take and hold a security deposit for the period of your sublet. Your agreement should outline 5 basic items:Amount: The term should include the exact amount you will collect as a security deposit.Storing Deposit: The term should include the terms of how you will store the sublessee’s security deposit. Some states require you to hold the deposit in escrow, others do not.Interest Rate: Certain states will require you to place your sublessee's security deposits in an account that earns interest. You must let your tenants know the interest rate their security deposit will be held at.Keeping the Deposit: The deposit agreement should include the reasons you can deduct money from the sublessee’s security deposit.Returning Deposit: Include the process for returning a security deposit. You will have to return the deposit within a certain number of days, depending on your state's law, of tenant move-out.Several states also require the use of inventory checklists at both the beginning and the end of occupancy if a security deposit is collected. You can use a Sublease Agreement to sublet an apartment, an entire house, or even just a room within a ...
Remedies to Default. If the Sublessee is in default, then this agreement will immediately become null and void and the Sublessor will automatically claim right to the SecurityDeposit.
Remedies to Default
