Common use of Rent Deficiency Payable Monthly Before Termination Clause in Contracts

Rent Deficiency Payable Monthly Before Termination. In the event of such re-entry and repossession of the Facility and Facility Equipment without termination of this Lease, the Tenant shall pay the Landlord the Base Rent and Additional Rent accruing up to the time of such event, and, in the event of the re-entry or repossession of the Facility and Facility Equipment without the termination of this Lease, the Tenant, until the end of the term of this Lease Agreement, shall be liable to the Landlord for damages for Tenant's default, for an amount which is determined to be the equivalent of the amount of the Base Rent, Additional Rent, and all charges payable under this Lease Agreement by Tenant on a monthly basis during the remaining Lease Term, less the then fair and reasonable rental value of the Leased Premises and Facility Equipment for the same period, after deducting Landlord's reasonable expenses in connection with such re-entry or repossession, which shall include, without limitation, all reasonable repossession costs, brokerage and management commissions, operating expenses attributable to effecting such re-entry or repossession, legal expenses, attorneys' fees, alteration costs, and expenses of preparing for such reletting. The Tenant shall pay such damages as in this Section 23.5B provided (herein called the "Rent Differential") to Landlord monthly on the days on which the Base Rent would have been payable under this Lease Agreement if Tenant were still in possession, and Landlord shall be entitled to recover from Tenant each monthly deficiency as the same shall arise. Nothing herein contained shall prevent Landlord from terminating this Lease Agreement thereafter for any such Event of Default.

Appears in 3 contracts

Samples: Lease Agreement (Emeritus Corp\wa\), Lease Agreement (Emeritus Corp\wa\), Lease Agreement (Emeritus Corp\wa\)

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Rent Deficiency Payable Monthly Before Termination. In the event of such re-entry and repossession of the Facility and Facility Equipment without termination of this Lease, the Tenant shall pay the Landlord the Base Rent and Additional Rent accruing up to the time of such event, and, in the event of the re-entry or repossession of the Facility and Facility Equipment without the termination of this Lease, the Tenant, until the end of the term of this Lease Agreement, shall be liable to the Landlord for damages for Tenant's default, for an amount which is determined to be the equivalent of the amount of the Base Rent, Additional Rent, and all charges payable under this Lease Agreement by by. Tenant on a monthly basis during the remaining Lease Term, less the then fair and reasonable rental value of the Leased Premises and Facility Equipment for the same period, after deducting Landlord's reasonable expenses in connection with such re-entry or repossession, which shall include, without limitation, all reasonable repossession costs, brokerage and management commissions, operating expenses attributable to effecting such re-entry or repossession, legal expenses, attorneys' fees, alteration costs, and expenses of preparing for such reletting. The Tenant shall pay such damages as in this Section 23.5B provided (herein called the "Rent Differential") to Landlord monthly on the days on which the Base Rent would have been payable under this Lease Agreement if Tenant were still in possession, and Landlord shall be entitled to recover from Tenant each monthly deficiency as the same shall arise. Nothing herein contained shall prevent Landlord from terminating this Lease Agreement thereafter for any such Event of Default.

Appears in 1 contract

Samples: Lease Agreement (Emeritus Corp\wa\)

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