Rights and Remedies of Landlord. Upon the occurrence of any of the events of default listed in Section 16.1.1 hereof, and after all applicable cure periods have elapsed, if any, and Tenant has failed to cure such default within such established cure period, Landlord shall have the option to pursue any one or more of the following remedies without any, prior notice or demand to Tenant: (i) Terminate this Lease without the need of any Court order, in which event Tenant shall surrender the Premises to Landlord, within a term of fifteen (15) calendar days after receipt of notice. (ii) After this Lease is effectively terminated, Landlord may re-let the Premises and receive the rent therefor. Tenant agrees to pay to Landlord all due Rent payable thereof and any other payments due and payable in accordance with Tenant’s obligations under this Lease, plus any damages and losses incurred or suffered by Landlord which are proven to be a direct result of Tenant’s default and resulting early termination. (iii) Tenant agrees to reimburse Landlord, against the corresponding invoices and/or receipts, on demand for expenses which Landlord may incur in thus effecting compliance with Tenant’s obligations under this Lease, together with interest thereon at the rate stated in Section 26.8 per annum from the date expended until paid. (iv) Accelerate and declare the Rent for the entire Lease Term, subject to the provisions of Section 2.1 and all other amounts as can reasonably be determined due under this Lease, at once due and payable, and proceed by attachment, suit or otherwise, to collect all amounts in the same manner as if all such amounts due or to become due during the entire Lease Term were payable in advance by the terms of this Lease, and neither the enforcement or collection by Landlord of such amounts nor the payment by Tenant of such amounts shall constitute a waiver by Landlord of any breach, existing or in the future, of any of the terms or provisions of this Lease by Tenant or a waiver of any rights or remedies which the Landlord may have with respect to any such breach. Notwithstanding the foregoing, Landlord shall not collect any Rent from Tenant for the period of time that the Premises are rented to a third party tenant when Landlord is collecting rent from such third party tenant. Pursuit of any of the foregoing remedies shall not preclude pursuit of any other remedies provided by law, nor shall pursuit of any remedy provided in this Lease constitute a forfeiture or waiver of any monthly installment of Rent due to Landlord under this Lease or of any damages accruing to Landlord by reason of the violation of any of the terms, provisions and covenants contained in this Lease. Failure of Landlord to declare any default immediately upon its occurrence, or failure to enforce one or more of Landlord’s remedies, or forbearance by Landlord to enforce one or more of Landlord’s remedies upon an event of default shall not be deemed or construed to constitute a waiver of default or waiver of any violation or breach of the terms of this Lease. Pursuit of any one of the above remedies shall not preclude pursuit by Landlord of any of the other remedies provided in this Lease. The loss or damage that Landlord may have suffered by reason of termination of this Lease or the deficiency from any re-letting as provided for above shall include the expense of repossession and any repairs or needed and reasonable remodeling undertaken by Landlord following possession in order to restate Premises to the same condition that they held prior to this Lease.
Appears in 2 contracts
Samples: Lease Agreement, Industrial Building Lease Agreement (Entorian Technologies Inc)
Rights and Remedies of Landlord. Upon If an Event of Default occurs which has not been cured or remedied during the occurrence of any of the events of default listed in Section 16.1.1 hereof, and after all applicable cure periods have elapsedgrace period, if any, and Tenant has failed to cure such default within such established cure period, Landlord shall have the option rights and remedies hereinafter set forth, which shall be distinct, separate and cumulative and shall not operate to pursue exclude or deprive Landlord of any one other right or more of the following remedies without any, prior notice remedy allowed at law or demand to Tenantin equity:
(i) Terminate Landlord may terminate this Lease without and forthwith repossess the need of any Court orderLeased Premises (together with all additions, in which event Tenant shall surrender the Premises alterations, fixtures and improvements thereto), using such force as may be necessary to Landlordevict Tenant, within a term of fifteen (15) calendar days after receipt of notice.
(ii) After this Lease is effectively terminated, or Landlord may re-let proceed to recover possession pursuant to the Premises and receive laws of the rent thereforState of Florida. Tenant agrees If Landlord does elect to pay to Landlord all due Rent payable thereof and any other payments due and payable in accordance with Tenant’s obligations under terminate this Lease, Landlord shall be entitled to recover forthwith as damages a sum of money equal to the total of (a) the cost of recovering the Leased Premises, (b) the unpaid rent earned at the time of termination, plus any damages and losses incurred or suffered by Landlord which are proven to be a direct result of Tenant’s default and resulting early termination.
(iii) Tenant agrees to reimburse Landlord, against the corresponding invoices and/or receipts, on demand for expenses which Landlord may incur in thus effecting compliance with Tenant’s obligations under this Lease, together with interest thereon at the rate stated in Section 26.8 of twelve percent (12%) per annum from the date expended until paid.due date, (c) the balance of the rent for the remainder of the term less the fair market rental value of the Leased Premises for said period, and (d) any other sum of money and damages owed by Tenant to Landlord; or
(ivii) Accelerate and declare the Rent for the entire Lease Term, subject to the provisions Landlord may terminate Tenant's right of Section 2.1 and all other amounts as can reasonably be determined due under possession (but not this Lease) and may, at once due and payable, and proceed repossess the Leased Premises by attachment, forcible entry or detainer suit or otherwise, without demand or notice of any kind to collect all amounts Tenant and without terminating this Lease, in which event Landlord may, but shall be under no obligation to do so, relet the same manner for the account of Tenant for such rent and upon such terms as if all shall be satisfactory to Landlord. For the purpose of such amounts due reletting, Landlord is authorized by Tenant to decorate or to become make any repairs, changes, alterations or additions in or to the Leased Premises that may be necessary or customary, at Tenant's expense. If Landlord shall fail to relet the Leased Premises, or if the same are relet and a sum sufficient to satisfy all rent provided for in this Lease to be paid by Tenant shall not be realized from such reletting after paying the unpaid Base Rent and Additional Rent due during hereunder earned but unpaid at the entire time of reletting plus interest thereon at twelve percent (12%) per annum, the cost of recovering possession, and all of the costs and expenses of such decorations. repairs, changes, alterations and additions and the expense of such reletting and of the collection of the rent accruing therefrom, then Tenant shall pay to Landlord as damages, in addition to such other items, a sum equal to the amount of the rental (including all Base Rent and Additional Rent) reserved in this Lease Term were payable in advance by until the Leased Premises leave been relet, the Tenant shall satisfy and pay any such deficiency, upon demand therefor from time to time. Tenant agrees that Landlord may file suit to recover any sums falling due under the terms of this Lease, and neither the enforcement Section 9.2 from time to time. No delivery or collection by Landlord of such amounts nor the payment by Tenant of such amounts shall constitute a waiver by Landlord recovery of any breach, existing or portion due Landlord hereunder shall be any defense in the future, any action to recover any amount not theretofore reduced to judgment in favor of any of the terms or provisions of this Lease by Tenant or a waiver of any rights or remedies which the Landlord may have with respect to any such breach. Notwithstanding the foregoing, Landlord shall not collect any Rent from Tenant for the period of time that the Premises are rented to a third party tenant when Landlord is collecting rent from such third party tenant. Pursuit of any of the foregoing remedies shall not preclude pursuit of any other remedies provided by lawLandlord, nor shall pursuit of any remedy provided in this Lease constitute a forfeiture or waiver of any monthly installment of Rent due to Landlord under this Lease or of any damages accruing to Landlord by reason of the violation of any of reletting be construed as an election on the terms, provisions and covenants contained in this Lease. Failure part of Landlord to declare terminate this Lease unless a written notice of such intention be given to Tenant by Landlord. Notwithstanding any default immediately upon its occurrencesuch reletting without termination, or failure to enforce one or more of Landlord’s remedies, or forbearance by Landlord to enforce one or more of Landlord’s remedies upon an event of default shall not be deemed or construed to constitute a waiver of default or waiver of any violation or breach of the terms of this Lease. Pursuit of any one of the above remedies shall not preclude pursuit by Landlord of any of the other remedies provided in this Lease. The loss or damage that Landlord may have suffered by reason of termination of at any time thereafter elect to terminate this Lease or the deficiency from any re-letting as provided for above shall include the expense of repossession and any repairs or needed and reasonable remodeling undertaken by Landlord following possession in order to restate Premises to the same condition that they held prior to this Leasesuch previous breach.
Appears in 1 contract
Samples: Lease Agreement (Asconi Corp)
Rights and Remedies of Landlord. Upon the occurrence of any of a default by Tenant which is not cured by Tenant within the events of default listed applicable grace period specified in Section 16.1.1 hereof, and after all applicable cure periods have elapsed, if any, and Tenant has failed to cure such default within such established cure period17.1, Landlord shall have the option following rights and remedies in addition to pursue any one all other rights or more of the following remedies without any, prior notice available to Landlord at law or demand to Tenantin equity:
(ia) Terminate this Lease without the need The right to terminate Tenant's right to possession of any Court order, in which event Tenant shall surrender the Premises and to Landlord, within a term recover the worth at the time of fifteen award of the amount by which the unpaid Rent for the balance of the Term after the time of award exceeds the fair and reasonable rental value of the Premises for the same period. In the computation of such amount the difference between any installment of Rent becoming due hereunder and after the date of termination of this Sublease and the reasonable rental value of the Premises for the period for which such installment was payable shall be discounted to its present value as of the date of termination of this Sublease at the rate of six percent (156%) calendar days after receipt of noticeper annum.
(iib) After The right to continue this Lease is effectively terminatedSublease in effect and to enforce all of its rights and remedies under this Sublease, including the right to recover Rent as it becomes due, for so long as Landlord may re-let does not terminate Tenant's right to possession. Acts of maintenance or preservation, efforts to relet the Premises or the appointment of a receiver upon Landlord's initiative to protect its interest under this Sublease shall not constitute a termination of Tenant's right to possession. If Landlord exercises its rights under this subsection (b), Landlord, as attorney-in-fact for Tenant, may from time to time sublet the Premises or any part thereof for such term or terms (which may extend beyond the Term) and receive at such rent and upon such other terms as Landlord in its sole and absolute discretion may deem advisable, with the rent thereforright to make alterations and repairs to the Premises. Upon each such subletting, (i) Tenant agrees to pay shall be immediately liable for payment to Landlord all of, in addition to Rent due Rent payable thereof hereunder, the cost of such subletting and any other payments due such alterations and payable in accordance with Tenant’s obligations under this Lease, plus any damages and losses repairs incurred or suffered by Landlord and the amount, if any, by which are proven the Rent owing hereunder for the period of such subletting (to the extent such period does not exceed the Term) exceeds the amount to be a direct result of Tenant’s default and resulting early termination.
(iii) Tenant agrees to reimburse Landlord, against the corresponding invoices and/or receipts, on demand for expenses which Landlord may incur in thus effecting compliance with Tenant’s obligations under this Lease, together with interest thereon at the rate stated in Section 26.8 per annum from the date expended until paid.
(iv) Accelerate and declare the paid as Rent for the entire Lease TermPremises for such period pursuant to such subletting, subject or (ii) at the option of Landlord, rents received from such subletting shall be applied, first, to payment of any indebtedness other than Rent due hereunder from Tenant to Landlord; second, to the provisions payment of Section 2.1 any costs of such subletting and all other amounts as can reasonably be determined due under this Leaseof such alterations and repairs; third, at once to payment of Rent due and payableunpaid hereunder; and the residue, if any, shall be held by Landlord and proceed by attachment, suit or otherwise, to collect all amounts applied in payment of future Rent as the same manner as if all becomes due hereunder. If Tenant has been credited with any rent to be received from such amounts due or subletting under clause (i) and such rent shall not be promptly paid to become due during the entire Lease Term were payable in advance Landlord by the terms subtenant(s), or if such rentals received from such subletting under clause (ii) during any month are less than those required to be paid during that month by Tenant hereunder, Tenant shall pay any such deficiency to Landlord. Such deficiency shall be calculated and paid monthly within five (5) days following written notice from Landlord. For all purposes set forth in this Section 17.2(b) and in Section 17.2(d), Landlord is hereby irrevocably appointed attorney-in-fact for Tenant, with power of substitution. No taking of possession of the Premises by Landlord, as attorney-in-fact for Tenant, shall be construed as an election on its part to terminate this Lease, and neither the enforcement Sublease or collection Tenant's right to possession unless a written notice of such intention is given to Tenant. No action taken by Landlord of such amounts nor the payment by Tenant of such amounts pursuant to this paragraph shall constitute a waiver by Landlord of any breach, existing or in the future, of any of the terms or provisions of this Lease by Tenant or be deemed a waiver of any rights or remedies which the default by Tenant, and notwithstanding any such subletting without termination, Landlord may have with respect at any time thereafter elect to any terminate this Sublease for such breachprevious default. Notwithstanding the foregoing, Landlord shall not collect any Rent from use reasonable efforts to mitigate the damages hereunder.
(c) The right to terminate this Sublease and dispossess Tenant by giving notice to Tenant in accordance with applicable Texas law.
(d) The right and power, as attorney-in-fact for Tenant, to enter the Premises and remove therefrom all persons and property, to store such property in a public warehouse or elsewhere at the cost of and for the period account of time that Tenant, and to sell such property and apply the proceeds therefrom pursuant to applicable Texas law.
(e) The right to have a receiver appointed for Tenant, upon application by Landlord, to take possession of the Premises are rented and to a third party tenant when Landlord is collecting rent apply any rental collected from such third party tenant. Pursuit of any of the foregoing Premises and to exercise all other rights and remedies shall not preclude pursuit of any other remedies provided by law, nor shall pursuit of any remedy provided in this Lease constitute a forfeiture or waiver of any monthly installment of Rent due granted to Landlord under this Lease or of any damages accruing as attorney-in-fact for Tenant pursuant to Landlord by reason of the violation of any of the terms, provisions Section 17.2(b) and covenants contained in this Lease. Failure of Landlord to declare any default immediately upon its occurrence, or failure to enforce one or more of Landlord’s remedies, or forbearance by Landlord to enforce one or more of Landlord’s remedies upon an event of default shall not be deemed or construed to constitute a waiver of default or waiver of any violation or breach of the terms of this Lease. Pursuit of any one of the above remedies shall not preclude pursuit by Landlord of any of the other remedies provided in this Lease. The loss or damage that Landlord may have suffered by reason of termination of this Lease or the deficiency from any re-letting as provided for above shall include the expense of repossession and any repairs or needed and reasonable remodeling undertaken by Landlord following possession in order to restate Premises to the same condition that they held prior to this LeaseSection 17.2(d).
Appears in 1 contract
Rights and Remedies of Landlord. Upon the occurrence of any of the events of default listed in Section 16.1.1 hereof, and after all applicable cure periods have elapsed, if any, and Tenant has failed to cure such default within such established cure periodIf a Default occurs, Landlord shall have have, to the option extent not prohibited expressly by law, the rights and remedies set forth in this Article 17, which shall be distinct, separate and cumulative and shall not operate to pursue exclude or deprive Landlord of any one other right or more of the following remedies without any, prior notice or demand to Tenantremedy allowed it by law:
(ia) Terminate Landlord may terminate this Lease without the need by giving to Tenant notice of any Court orderLandlord's election to do so, in which event the Term of this Lease shall end, and all right, title and interest of Tenant hereunder shall surrender expire, on the date stated in such notice and demanding that Tenant deliver possession of the Premises to Landlord, within a term of fifteen (15) calendar days after receipt of notice.on such date;
(iib) After Landlord may terminate the right of Tenant to possession of the Premises without terminating this Lease is effectively terminatedby giving notice to Tenant that Tenant's right to possession shall end on the date stated in such notice, whereupon the right of Tenant to possession of the Premises or any part thereof shall cease on the date stated in such notice and demanding that Tenant deliver possession of the Premises on such date; and
(c) Landlord may re-let the Premises and receive the rent therefor. Tenant agrees to pay to Landlord all due Rent payable thereof and any other payments due and payable in accordance with Tenant’s obligations under this Lease, plus any damages and losses incurred or suffered by Landlord which are proven to be a direct result of Tenant’s default and resulting early termination.
(iii) Tenant agrees to reimburse Landlord, against the corresponding invoices and/or receipts, on demand for expenses which Landlord may incur in thus effecting compliance with Tenant’s obligations under this Lease, together with interest thereon at the rate stated in Section 26.8 per annum from the date expended until paid.
(iv) Accelerate and declare the Rent for the entire Lease Term, subject to enforce the provisions of Section 2.1 this Lease and all other amounts as can reasonably be determined due under this Lease, at once due may enforce and payable, and proceed protect the rights of Landlord hereunder by attachment, a suit or otherwisesuits in equity or at law for the specific performance of any covenant or agreement contained herein, to collect or for the enforcement of any other appropriate legal or equitable remedy, including recovery of all amounts in the same manner as if all such amounts moneys due or to become due during from Tenant under any of the entire Lease Term were payable in advance by the terms provisions of this Lease, and neither the enforcement or collection by Landlord of such amounts nor the payment by Tenant of such amounts shall constitute .
(d) If a waiver by Landlord of any breach, existing or in the future, of any of the terms or provisions of Default exists under this Lease by Tenant or a waiver of any rights or remedies which the Landlord may have with respect to any such breach. Notwithstanding the foregoingLease, Landlord shall not collect any Rent from also have the remedy described in California Civil Code Section 1951.4 (Landlord may continue this Lease in effect after Tenant for the period of time that has breached this Lease and abandoned the Premises are rented and recover Rent as it becomes due; provided, however that Tenant has the right to sublet or assign this Lease, subject only to reasonable limitations). Acts of maintenance or preservation or efforts to relet the Premises or the appointment of a third party tenant when receiver upon initiative of Landlord is collecting rent from such third party tenant. Pursuit of any of the foregoing remedies shall not preclude pursuit of any other remedies provided by law, nor shall pursuit of any remedy provided in this Lease constitute a forfeiture or waiver of any monthly installment of Rent due to Landlord protect Landlord's interest under this Lease or of any damages accruing to Landlord by reason of the violation of any of the terms, provisions and covenants contained in this Lease. Failure of Landlord to declare any default immediately upon its occurrence, or failure to enforce one or more of Landlord’s remedies, or forbearance by Landlord to enforce one or more of Landlord’s remedies upon an event of default shall not be deemed or construed to constitute a waiver of default or waiver of any violation or breach of the terms of this Lease. Pursuit of any one of the above remedies shall not preclude pursuit by Landlord of any of the other remedies provided in this Lease. The loss or damage that Landlord may have suffered by reason of termination of this Lease or the deficiency from any re-letting as provided for above shall include the expense of repossession and any repairs or needed and reasonable remodeling undertaken by Landlord following possession in order Tenant's right to restate Premises to the same condition that they held prior to this Leasepossession.
Appears in 1 contract
Samples: Office Lease (AtheroNova Inc.)
Rights and Remedies of Landlord. Upon the occurrence Without limiting any other rights and remedies of any of the events of default listed in Section 16.1.1 hereof, and after all applicable cure periods have elapsed, if any, and Tenant has failed to cure such default within such established cure periodLandlord, Landlord shall have the option to pursue following rights and remedies upon and after any one or more of the following remedies without any, prior notice or demand to Tenant:
(i) Terminate default by Tenant under this Lease without the need of any Court order, in which event Tenant shall surrender the Premises to Landlord, within a term of fifteen Agreement: (15a) calendar days after receipt of notice.
(ii) After Landlord may terminate this Lease is effectively terminatedAgreement; (b) with or without terminating this Lease Agreement, Landlord may re-enter the Premises and attempt to re- let the Premises and receive the rent therefor. Tenant agrees to pay to Landlord all due Rent payable or any part thereof and any other payments due remove all persons and payable property from the Premises, and such property may be removed and stored in accordance with Tenant’s obligations under this Lease, plus any damages and losses incurred a public warehouse or suffered by Landlord which are proven to be a direct result of Tenant’s default and resulting early termination.
(iii) Tenant agrees to reimburse Landlord, against the corresponding invoices and/or receipts, on demand for expenses which Landlord may incur in thus effecting compliance with Tenant’s obligations under this Lease, together with interest thereon elsewhere at the rate stated in Section 26.8 per annum from the date expended until paid.
(iv) Accelerate cost of, and declare the Rent for the entire Lease Termaccount of, subject Tenant, all without service of notice or resort to the provisions legal process and without Landlord being deemed guilty of Section 2.1 and all other amounts as can reasonably be determined due under this Lease, at once due and payable, and proceed by attachment, suit trespass or otherwise, to collect all amounts in the same manner as if all such amounts due or to become due during the entire Lease Term were payable in advance by the terms of this Lease, and neither the enforcement or collection by Landlord of such amounts nor the payment by Tenant of such amounts shall constitute a waiver by Landlord of becoming liable for any breach, existing or in the future, of any of the terms or provisions of this Lease by Tenant or a waiver of any rights or remedies which the Landlord may have with respect to any such breach. Notwithstanding the foregoing, Landlord shall not collect any Rent from Tenant for the period of time that the Premises are rented to a third party tenant when Landlord is collecting rent from such third party tenant. Pursuit of any of the foregoing remedies shall not preclude pursuit of any other remedies provided by law, nor shall pursuit of any remedy provided in this Lease constitute a forfeiture or waiver of any monthly installment of Rent due to Landlord under this Lease or of any damages accruing to Landlord by reason of the violation of any of the terms, provisions and covenants contained in this Lease. Failure of Landlord to declare any default immediately upon its occurrence, or failure to enforce one or more of Landlord’s remedies, or forbearance by Landlord to enforce one or more of Landlord’s remedies upon an event of default shall not be deemed or construed to constitute a waiver of default or waiver of any violation or breach of the terms of this Lease. Pursuit of any one of the above remedies shall not preclude pursuit by Landlord of any of the other remedies provided in this Lease. The loss or damage that may be occasioned thereby; (c) Landlord may have suffered by reason may, at its option, with or without terminating this Lease Agreement, and without affecting Tenant's other obligations and liabilities under this Lease Agreement, declare the entire amount of termination Rent payable during the remainder of the term of this Lease Agreement immediately due and payable and collect such amount by any lawful procedure; (d) Landlord may, but shall not be required to, re-let the Premises or any part thereof for such term or terms (which may be for a term extending beyond the deficiency term of this Lease Agreement) at such rentals or rental and upon such other terms and conditions as Landlord in its sole discretion may determine; and upon 'such reletting shall be applied first, to the payment of any indebtedness other than Rent due hereunder from Tenant to Landlord; second, to the payment of any costs and expenses of such re-letting, including brokerage fees and attorneys' fees; third, to the payment of Rent unpaid hereunder as and if accelerated, and the residue, if any, shall be held by Landlord and applied to payment of future rent as the same may become due and payable hereunder; and no such re-entry or taking possession of the Premises by Landlord shall constitute an election on its part to terminate this Lease Agreement unless a notice of termination shall be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction; (e) notwithstanding any re-letting as provided for above of the Premises or any part thereof described in (b) and (d) above, without terminating this Lease Agreement, Landlord may at any time thereafter elect to terminate this Lease Agreement. All of Landlord's rights hereunder and at law are cumulative and the exercise of any rights shall include not preclude the expense exercise of repossession and any repairs other rights Landlord has or needed and reasonable remodeling undertaken by Landlord following possession in order to restate Premises to the same condition that they held prior to this Leasemay have.
Appears in 1 contract
