Common use of Remedies Upon Tenant's Default Clause in Contracts

Remedies Upon Tenant's Default. In the event of any Tenant default hereunder, Landlord may at its option declare the entire Base Rent and additional Rent payable directly to Landlord for the balance of the Term (exclusive of any unexercised options) to be immediately due and payable, provided that the maximum amount of such accelerated rent may not exceed three (3) years of Base Rent, and the same shall thereupon at once become due and payable as if by the terms of this Lease it were all payable in advance. In such event, any item of Rent other than Base Rent for any future period which shall be so declared immediately due and payable shall be paid based on an estimate thereof by Landlord for the balance of the Term, and in making such estimate Landlord shall be entitled to assume that the amount of such item of Rent shall increase annually by four percent (4%) of the amount determined for the preceding annual period. In addition to the foregoing remedy, in the event of any default hereunder, Landlord may exercise anyone or more of the following remedies: (i) Landlord may declare this Lease terminated; (ii) Landlord may re-enter and take possession of the Premises without terminating this Lease and may relet the Premises for the account of Tenant; and (iii) Landlord may pursue such other rights and remedies which may be available to Landlord at law or in equity, including damages.

Remedies Upon Tenant's Default. In the event of any Tenant default hereunder, Landlord may at its option declare the entire Base Rent and additional Rent payable directly to Landlord for the Xxxx Lease Agreement/cr Page 11 balance of the Term (exclusive of any unexercised options) to be immediately due and payable, provided that the maximum amount of such accelerated rent may not exceed three (3) years of Base Rent, and the same shall thereupon at once become due and payable as if by the terms of this Lease it were all payable in advance. In such event, any item of Rent other than Base Rent for any future period which shall be so declared immediately due and payable shall be paid based on an estimate thereof by Landlord for the balance of the Term, and in making such estimate Landlord shall be entitled to assume that the amount of such item of Rent shall increase annually by four percent (4%) of the amount determined for the preceding annual period. In addition to the foregoing remedy, in the event of any default hereunder, Landlord may exercise anyone or more of the following remedies: (i) Landlord may declare this Lease terminated; (ii) Landlord may re-enter and take possession of the Premises without terminating this Lease and may relet the Premises for the account of Tenant; and (iii) Landlord may pursue such other rights and remedies which may be available to Landlord at law or in equity, including damages.