Termination of Lease. Should Landlord elect to terminate this Lease pursuant to the provisions above, Landlord may recover from Tenant, as damages, the following: (a) the worth at the time of award of any unpaid rental which had been earned at the time of the termination; plus rental which had been earned at the time of the termination; plus (b) the worth at the time of award of the amount by which the unpaid rental which would have been earned after termination until the time of award exceeds the amount of rental loss Tenant proves could have been reasonably avoided; plus (c) the worth at the time of award of the amount by which the unpaid rental for the balance of the Term after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided; plus (d) any other amount necessary to compensate Landlord for all the detriment caused by Tenant’s failure to perform its obligation under this Lease or which ordinary course of things would be likely to result therefrom, including, but not limited to, any costs or expenses incurred by Landlord in (i) retaking possession of the Premises, including reasonable attorneys’ fees therefor, (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (iv) any leasing commission, or (v) any other costs necessary or appropriate to relet the Premises.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of California. As used in Subsection (a) and (b) above, the “worth at the time of award” is computed by allowing interest at the maximum lawful rate. As used in Subsections (c) above, the “worth at the time of award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport at the time of award plus one percent (1%).
Appears in 2 contracts
Sources: Lease Agreement (Social Capital Hedosophia Holdings Corp.), Lease Agreement (Social Capital Hedosophia Holdings Corp.)
Termination of Lease. Should Landlord elect to terminate this Lease pursuant If at any time prior to the provisions above, Landlord may recover from Tenant, as damages, the following: (a) the worth at the time of award of any unpaid rental which had been earned at the time of the termination; plus rental which had been earned at the time of the termination; plus (b) the worth at the time of award of the amount by which the unpaid rental which would have been earned after termination until the time of award exceeds the amount of rental loss Tenant proves could have been reasonably avoided; plus (c) the worth at the time of award of the amount by which the unpaid rental for the balance expiration of the Term after of the time Sublease the Lease shall terminate or be terminated for any reason, the Sublease shall simultaneously terminate regardless of award exceeds whether Landlord has received payments directly from Subtenant as described in Section 5 above. However, Subtenant agrees, at the amount election and upon written demand of rental loss that Tenant proves could be reasonably avoided; plus (d) any other amount necessary Landlord, and not otherwise, to compensate attorn to Landlord for all the detriment caused by Tenant’s failure to perform its obligation under this Lease or which ordinary course of things would be likely to result therefrom, including, but not limited to, any costs or expenses incurred by Landlord in (i) retaking possession remainder of the Premisesterm of the Sublease, such attornment to be upon all of the terms and conditions of the Sublease, including reasonable attorneys’ fees therefor, (ii) maintaining or preserving all provisions of the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations Lease applicable to the PremisesSublease. The foregoing provisions of this paragraph shall apply notwithstanding that, (iv) any leasing commissionas a matter of law, or (v) any other costs necessary or appropriate to relet the Premises.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu Sublease may otherwise terminate upon the termination of the Lease and shall be self-operative upon such written demand of the Landlord, and (other than the written demand described in the foregoing as may sentence) no further instrument shall be permitted required to give effect to said provisions. Upon the reasonable demand of Landlord, however, Subtenant agrees to execute, from time to time but no more than once per 12 month period, documents in confirmation of the foregoing provisions of this paragraph satisfactory to Landlord in which Subtenant shall acknowledge such attornment and shall set forth the terms and conditions of its tenancy. In the event of any such election by the laws of California. As used in Subsection Landlord, Landlord will not be (a) and liable for any rent paid by Subtenant to Tenant more than one month in advance of the written demand described above, or any security deposit paid by Subtenant to Tenant, unless same has been transferred to Landlord by Tenant; (b) aboveliable for any act or omission of Tenant under the Lease, Sublease or any other agreement between Tenant and Subtenant or for any default of Tenant under any such documents which occurred prior to the “worth at effective date of the time of award” is computed by allowing interest at the maximum lawful rate. As used in Subsections attornment; (c) above, subject to any defenses or offsets that Subtenant may have against Tenant which arose prior to the “worth at the time of award” is computed by discounting such amount at the discount rate effective date of the Federal Reserve Bank situated nearest attornment; (d) bound by any changes or modifications made to the location Sublease without the written consent of Landlord, (e) obligated in any manner with respect to the transfer, delivery, use or condition of any furniture, equipment or other personal property in the Sublet Premises which Tenant agreed would be transferred to Subtenant or which Tenant agreed could by used by the Subtenant during the term of the Mojave Airport at Sublease, or (f) liable for the time payment of award plus one percent (1%)any improvement allowance, or any other payment, credit, offset or amount due from Tenant to Subtenant under the Sublease.
Appears in 2 contracts
Sources: Sublease (Glu Mobile Inc), Sublease (NeurogesX Inc)
Termination of Lease. Should Landlord elect to Lessor may terminate this Lease pursuant or Lessee's -------------------- right to possession of the provisions abovePremises by notice to Lessee or any other lawful means, Landlord may in which case this Lease shall terminate and Lessee shall immediately surrender possession of the Premises to Lessor. In such event Lessor shall be entitled to recover from Tenant, as damages, the following: Lessee:
(ai) the The worth at the time of award of any the unpaid rental Rentals which had been earned at the time of the termination; plus rental which had been earned at the time of the termination; plus ;
(bii) the The worth at the time of award of the amount by which the unpaid rental Rentals which would have been earned after termination until the time of award exceeds the amount of such rental loss Tenant that Lessee proves could have been reasonably avoided; plus ;
(ciii) the The worth at the time of award (computed by discounting at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent) of the amount by which the unpaid rental Rentals for the balance of the Term after the time of award exceeds the amount of such rental loss that Tenant Lessee proves could be reasonably avoided; plus and
(div) any Any other amount amounts necessary to compensate Landlord Lessor for all the detriment proximately caused by Tenant’s failure to perform its obligation under this Lease the default by Lessee or which in the ordinary course of things events would be likely to result therefromresult, including, but not limited to, any including without limitation the reasonable costs or and expenses incurred by Landlord in Lessor for:
(iA) retaking Retaking possession of the Premises;
(B) Cleaning and making repairs and alterations (including installation of leasehold improvements, including reasonable attorneys’ fees thereforwhether or not the same shall be funded by a reduction of rent, (iidirect payment or otherwise) maintaining or preserving necessary to return the Premises after any default, (iii) to good condition and preparing the Premises for reletting reletting;
(C) Removing, transporting, and storing any of Lessee's property left at the Premises (although Lessor shall have no obligation to a new tenantremove, including repairs transport, or alterations to store any of the property);
(D) Reletting the Premises, including without limitation, brokerage commissions, advertising costs, and attorneys' fees;
(ivE) any leasing commissionAttorneys' fees, or expert witness fees and court costs;
(vF) any other costs necessary or appropriate to relet Any unamortized real estate brokerage commissions paid in connection with this Lease; and
(G) Costs of carrying the Premises, such as repairs, maintenance, taxes and insurance premiums, utilities and security precautions, if any.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of California. As used in Subsection (a) and (b) above, the “worth at the time of award” is computed by allowing interest at the maximum lawful rate. As used in Subsections (c) above, the “worth at the time of award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport at the time of award plus one percent (1%).
Appears in 2 contracts
Sources: Office Lease (Inktomi Corp), Sublease (Inktomi Corp)
Termination of Lease. Should Landlord elect to can terminate this Lease pursuant and Tenant’s right to possession of the provisions abovePremises by giving written notice of termination, and then re-enter the Premises and take possession thereof. No act by Landlord other than giving written notice to Tenant of such termination shall terminate this Lease. Upon termination, Landlord may has the right to recover from all damages incurred by Landlord as a result of Tenant’s default, as damages, the following: including:
(a) the The worth at the time of award of any unpaid rental which rent that had been earned at the time of the such termination; plus rental which had been earned at the time of the termination; plus plus
(b) the The worth at the time of award of the amount by which the unpaid rental which rent that would have been earned after the date of termination until the time of award exceeds the amount of rental the loss of rent that Tenant proves could have been reasonably avoided; plus plus
(c) the The worth at the time of award of the amount by which the unpaid rental rent for the balance of the Lease Term after the time of award exceeds the amount of such rental loss that Tenant proves could be have been reasonably avoided; plus plus
(d) any Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligation under this Lease or which ordinary course of things would be likely to result therefromdefault, including, but not limited to, any costs or expenses incurred by Landlord in to (i) expenses for cleaning, repairing or restoring the Premises, (ii) expenses for altering, remodeling or otherwise improving the Premises for the purpose of reletting, (iii) brokers’ fees and commissions, advertising costs and other expenses of reletting the Premises, (iv) costs of carrying the Premises, such as taxes, insurance premiums, utilities and security precautions, (v) expenses in retaking possession of the Premises, including reasonable (vi) attorneys’ fees thereforand costs, (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (ivvii) any leasing commissionunearned brokerage commissions paid in connection with this Lease, and (viii) reimbursement of any previously waived or (v) any abated Minimum Monthly Rent, Additional Rent or other costs necessary or appropriate to relet the Premises.charges; plus plus
(e) at At Landlord’s election, any such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of Californiaunder applicable law. As used in Subsection paragraphs (a) and (b) above, the “worth at the time of award” is shall be computed by allowing interest at the maximum lawful permissible legal rate. As used in Subsections paragraph (c) above, the “worth at the time of award” is shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport San Francisco at the time of award plus one percent (1%).
Appears in 2 contracts
Sources: Sublease Agreement (Locust Walk Acquisition Corp.), Standard Industrial Net Lease (Halozyme Therapeutics Inc)
Termination of Lease. Should Landlord elect to Lessor may terminate this Lease pursuant or Lessee's right -------------------- to possession of the provisions abovePremises by notice to Lessee or any other lawful means, Landlord may in which case this Lease shall terminate and Lessee shall immediately surrender possession of the Premises to Lessor. In such event Lessor shall be entitled to recover from Tenant, as damages, the following: Lessee:
(ai) the The worth at the time of award of any the unpaid rental Rentals which had been earned at the time of the termination; plus rental which had been earned at the time of the termination; plus ;
(bii) the The worth at the time of award of the amount by which the unpaid rental Rentals which would have been earned after termination until the time of award exceeds the amount of such rental loss Tenant that Lessee proves could have been reasonably avoided; plus ;
(ciii) the The worth at the time of award (computed by discounting at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent) of the amount by which the unpaid rental Rentals for the balance of the Term after the time of award exceeds the amount of such rental loss that Tenant Lessee proves could be reasonably avoided; plus and
(div) any Any other amount amounts necessary to compensate Landlord Lessor for all the detriment proximately caused by Tenant’s failure to perform its obligation under this Lease the default by Lessee or which in the ordinary course of things events would be likely to result therefromresult, including, but not limited to, any including without limitation the reasonable costs or and expenses incurred by Landlord in Lessor for:
(iA) retaking Retaking possession of the Premises;
(B) Cleaning and making repairs and alterations (including installation of leasehold improvements, including reasonable attorneys’ fees thereforwhether or not the same shall be funded by a reduction of rent, (iidirect payment or otherwise) maintaining or preserving necessary to return the Premises after any default, (iii) to good condition and preparing the Premises for reletting reletting;
(C) Removing, transporting, and storing any of Lessee's property left at the Premises (although Lessor shall have no obligation to a new tenantremove, including repairs transport, or alterations to store any of the property);
(D) Reletting the Premises, including without limitation, brokerage commissions, advertising costs, and attorneys' fees;
(ivE) any leasing commissionAttorneys' fees, or expert witness fees and court costs,
(vF) any other costs necessary or appropriate to relet Any unamortized real estate brokerage commissions paid in connection with this Lease; and
(G) Costs of carrying the Premises, such as repairs, maintenance, taxes and insurance premiums. utilities and security precautions, if any.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of California. As used in Subsection (a) and (b) above, the “worth at the time of award” is computed by allowing interest at the maximum lawful rate. As used in Subsections (c) above, the “worth at the time of award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport at the time of award plus one percent (1%).
Appears in 2 contracts
Sources: Net Office Lease (Chordiant Software Inc), Net Office Lease (Chordiant Software Inc)
Termination of Lease. Should Landlord elect to Lessor may terminate this Lease and all rights -------------------- of Lessee hereunder by giving Lessee written notice that this Lease is terminated, in which event the Term of this Lease shall terminate and all right, title and interest of Lessee hereunder shall expire on the date stated in such notice. Upon such termination, Lessor shall be entitled to recover from Lessee all the fixed dollar amounts of Total Rental accrued and unpaid for the period up to and including such date of termination, as well as all other additional sums payable by Lessee or for which Lessee is liable or in respect of which Lessee has agreed to indemnify Lessor under the provisions of this Lease. In addition, Lessor shall be entitled to recover as damages for the loss of the bargain and not as a penalty (i) the unamortized cost to Lessor, computed and determined in accordance with generally accepted accounting principles, of the Lessee improvements and alterations, if any, paid for and installed by Lessor pursuant to the provisions abovethis Lease, Landlord may recover from Tenant, as damages, the following: plus (aii) the worth aggregate sum which at the time of award such termination represents the excess, if any, of any unpaid rental which had been earned the present value of the aggregate Total Rental at the time same annual rate for the remainder of the termination; plus rental which had been earned at Term as then in effect pursuant to the time applicable provisions of this Lease, over the then present value of the termination; plus (b) the worth at the time of award then aggregate fair total rental value of the amount by which the unpaid rental which would have been earned after termination until the time of award exceeds the amount of rental loss Tenant proves could have been reasonably avoided; plus (c) the worth at the time of award of the amount by which the unpaid rental Leased Premises for the balance of the Term after Lease Term, such present worth to be computed in each case on the time basis of award exceeds a three percent (3%) per annum discount from the amount of rental loss that Tenant proves could be reasonably avoided; respective dates upon which such Total Rentals would have been payable hereunder had this Lease not been terminated, plus (diii) any other amount necessary to compensate Landlord for all the detriment caused by Tenant’s failure to perform its obligation under this Lease or which ordinary course of things would be likely to result therefrom, including, but not limited to, any costs or expenses incurred by Landlord damages in (i) retaking possession of the Premisesaddition thereto, including reasonable attorneys’ ' fees thereforand court costs, (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (iv) any leasing commission, or (v) any other costs necessary or appropriate to relet the Premises.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu which Lessor shall have sustained by reason of the foregoing as may be permitted from time to time by the laws breach of California. As used in Subsection (a) and (b) above, the “worth at the time of award” is computed by allowing interest at the maximum lawful rate. As used in Subsections (c) above, the “worth at the time of award” is computed by discounting such amount at the discount rate any of the Federal Reserve Bank situated nearest to covenants of this Lease other than for the location payment of the Mojave Airport at the time of award plus one percent (1%)Total Rental.
Appears in 2 contracts
Sources: Lease Agreement (Sequiam Corp), Lease Agreement (Sequiam Corp)
Termination of Lease. Should Landlord elect to can terminate this Lease pursuant and Tenant’s right to possession of the provisions abovePremises by giving written notice of termination, and then re-enter the Premises and take possession thereof. No act by Landlord other than giving written notice to Tenant of such termination shall terminate this Lease. Upon termination, Landlord may has the right to recover from all damages incurred by Landlord as a result of Tenant’s default, as damages, the following: including:
(a) the The worth at the time of award of any unpaid rental which rent that had been earned at the time of the such termination; plus rental which had been earned at the time of the termination; plus plus
(b) the The worth at the time of award of the amount by which the unpaid rental which rent that would have been earned after the date of termination until the time of award exceeds the amount of rental the loss of rent that Tenant proves could have been reasonably avoided; plus plus
(c) the The worth at the time of award of the amount by which the unpaid rental rent for the balance of the Lease Term after the time of award exceeds the amount of such rental loss that Tenant proves could be have been reasonably avoided; plus plus
(d) any Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligation under this Lease or which ordinary course of things would be likely to result therefromdefault, including, but not limited to, any costs or expenses incurred by Landlord in to (i) expenses for cleaning, repairing or restoring the Premises, (Ii) expenses for altering, remodeling or otherwise improving the Premises for the purpose of reletting, (Iii) brokers’ fees and commissions, advertising costs and other expenses of retelling the Premises, (iv) costs of carrying the Premises, such as taxes, insurance premiums, utilities and security precautions, (v) expenses in retaking possession of the Premises, including reasonable (vi) attorneys’ fees thereforand costs, (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (ivvii) any leasing commissionunearned brokerage commissions paid in connection with this Lease, and (viii) reimbursement of any previously waived or (v) any abated Minimum Monthly Rent, Additional Rent or other costs necessary or appropriate to relet the Premises.charges; plus plus
(e) at At Landlord’s election, any such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of Californiaunder applicable law. As used in Subsection paragraphs (a) and (b) above, the “worth at the time of award” is shall be computed by allowing interest at the maximum lawful permissible legal rate. As used in Subsections paragraph (c) above, the “worth at the time of award” is shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport San Francisco at the time of award plus one percent (1%).
Appears in 2 contracts
Sources: Standard Industrial Net Lease (Mabvax Therapeutics Holdings, Inc.), Standard Industrial Net Lease (Mabvax Therapeutics Holdings, Inc.)
Termination of Lease. Should Landlord elect to terminate Terminate this Lease pursuant by giving Tenant written notice thereof, in which event Tenant shall immediately surrender the Premises to the provisions above, Landlord and Landlord may recover from Tenant, as damages, the following: (ai) the worth at the time of award of any unpaid rental Rent which had been earned at the time of the termination; plus rental which had been earned at the time of the such termination; plus (bii) the worth at the time of award of the amount by which the unpaid rental Rent which would have been earned after termination until the time of award exceeds the amount of rental such Rent loss Tenant proves reasonably could have been reasonably avoided; plus (ciii) the worth at the time of award of the amount by which the unpaid rental Rent for the balance of the Term after the time of award exceeds the amount of rental such Rent loss that Tenant proves reasonably could be reasonably avoided; plus (div) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligation obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, but not limited to, any costs or expenses incurred by Landlord in (i) retaking possession of the Premises, including reasonable attorneys’ fees therefor, (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (iv) any leasing commission, or (v) any other costs necessary or appropriate to relet the Premises.; plus (ev) at Landlord’s election, any such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of Californiaapplicable California law. As used in Subsection clauses (ai) and (bii) above, the “worth at the time of award” is computed by allowing interest at the maximum lawful rateDefault Rate. As used in Subsections clause (ciii) above, the “worth at the time of award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport San Francisco at the time of award plus one percent (1%). Forbearance by Landlord to enforce one or more of the remedies herein provided upon an Event of Default shall not be deemed or construed to constitute a waiver of such default. Tenant hereby waives for Tenant and for all those claiming under Tenant all rights now or hereafter existing to redeem by order or judgment of any court or by any legal process or writ, Tenant’s right of occupancy of the Premises after any termination of this Lease. If Landlord elects to proceed under this Section 18(a), Landlord may remove all of Tenant’s property from the Premises (which shall be deemed abandoned by Tenant) and store the same in a public warehouse or elsewhere at the cost of, and for the account of, Tenant, without becoming liable for any loss or damage which may be occasioned thereby. If and to the extent required by applicable Law, Landlord shall use commercially reasonable efforts to relet the Premises on such terms as Landlord in its sole discretion may determine (including a term different from the Term, rental concessions, and alterations to, and improvement of, the Premises); however, Landlord shall not be obligated to expend funds in connection with reletting the Premises, nor to relet the Premises before leasing other portions of the Building, and Landlord shall not be obligated to accept any prospective tenant proposed by Tenant unless such proposed tenant meets all of Landlord’s leasing criteria. Tenant shall not be entitled to the excess of any consideration obtained by reletting over the Rent due hereunder.
Appears in 2 contracts
Sources: Office Lease Agreement (Spruce Biosciences, Inc.), Office Lease Agreement (Spruce Biosciences, Inc.)
Termination of Lease. Should Landlord elect to Lessor may terminate this Lease pursuant or Lessee’s right to possession of the provisions abovePremises by notice to Lessee or any other lawful means, Landlord may in which case this Lease shall terminate and Lessee shall immediately surrender possession of the Premises to Lessor. In such event Lessor shall be entitled to recover from Tenant, as damages, the following: Lessee:
(ai) the The worth at the time of award of any the unpaid rental Rentals which had have been earned at the time of the termination; plus rental which had been earned at the time of the termination; plus ;
(bii) the The worth at the time of award of the amount by which the unpaid rental Rentals which would have been earned after termination until the time of award exceeds the amount of such rental loss Tenant that Lessee proves could have been reasonably avoided; plus ;
(ciii) the The worth at the time of award (computed by discounting at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent) of the amount by which the unpaid rental Rentals for the balance of the Term after the time of award exceeds the amount of such rental loss that Tenant Lessee proves could be reasonably avoided; plus and
(div) any Any other amount amounts necessary to compensate Landlord Lessor for all the detriment proximately caused by Tenant’s failure to perform its obligation under this Lease the default by Lessee or which in the ordinary course of things events would be likely to result therefrom, including, but not limited to, any including without limitation the reasonable costs or expenses and expense incurred by Landlord in Lessor for:
(iA) retaking Retaking possession of the Premises;
(B) Cleaning and making repairs and alterations (including installation of leasehold improvements, including reasonable attorneys’ fees thereforwhether or not the same shall be funded by a reduction of rent, (iidirect payment or otherwise) maintaining or preserving necessary to return the Premises after any default, (iii) to good condition and preparing the Premises for reletting reletting;
(C) Removing, transporting and storing any of Lessee’s property left at the Premises (although Lessor shall have no obligation to a new tenantremove, including repairs transport or alterations to store any of the property);
(D) Reletting the Premises, including without limitation, brokerage commissions, advertising costs and attorneys’ fees;
(ivE) any leasing commissionAttorneys’ fees, or expert witness fees and court costs;
(vF) any other costs necessary or appropriate to relet Any unamortized real estate brokerage commissions paid in connection with this Lease; and
(G) Costs of carrying the Premises, such as repairs, maintenance, taxes and insurance premiums, utilities and security precautions, if any.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of California. As used in Subsection (a) and (b) above, the “worth at the time of award” is computed by allowing interest at the maximum lawful rate. As used in Subsections (c) above, the “worth at the time of award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport at the time of award plus one percent (1%).
Appears in 2 contracts
Sources: Lease Agreement (Asante Solutions, Inc.), Lease Agreement (Asante Solutions, Inc.)
Termination of Lease. Should Terminate this Lease by giving Tenant written notice thereof, in which event ▇▇▇▇▇▇ shall immediately surrender the Premises to Landlord. In the event that Landlord shall elect to so terminate this Lease pursuant to the provisions aboveLease, then Landlord may recover from Tenant, as damages, the following: :
(a) the The worth at the time of award of any unpaid rental Rent which had been earned at the time of the such termination; plus rental which had been earned at the time of the termination; plus plus
(b) the The worth at the time of award of the amount by which the unpaid rental Rent which would have been earned after such termination until the time of award exceeds the amount of rental such Rent loss that Tenant proves could have been reasonably avoided; plus plus
(c) the The worth at the time of award of the amount by which the unpaid rental Rent for the balance of the Term after the time of award exceeds the amount of rental such Rent loss that Tenant proves could be reasonably avoided; plus plus
(d) any Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s ▇▇▇▇▇▇'s failure to perform its obligation obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, but not limited towithout limitation, any costs or expenses incurred by Landlord in (i) retaking the cost of recovering possession of the Premises, expenses of reletting (including necessary repair, renovation and alteration of the Premises), reasonable attorneys’ fees therefor' fees, (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (iv) any leasing commission, or (v) and any other costs necessary or appropriate to relet the Premises.reasonable costs; plus plus
(e) at At Landlord’s 's election, any such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of CaliforniaLaw. As used in Subsection AS USED IN CLAUSES (aA) and AND (bB) aboveABOVE, the “worth at the time of award” is computed by allowing interest at the maximum lawful rateTHE "WORTH AT THE TIME OF AWARD" IS COMPUTED BY ALLOWING INTEREST AT THE DEFAULT RATE. As used in Subsections AS USED IN CLAUSE (cC) aboveABOVE, the “worth at the time of award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport at the time of award plus one percent THE "WORTH AT THE TIME OF AWARD" IS COMPUTED BY DISCOUNTING SUCH AMOUNT AT THE DISCOUNT RATE OF THE FEDERAL RESERVE BANK OF SAN FRANCISCO AT THE TIME OF AWARD PLUS ONE PERCENT (1%). Failure by Landlord to enforce one or more of the remedies herein provided upon an Event of Default shall not be deemed or construed to constitute a waiver of such Event of Default. Tenant hereby waives for Tenant and for all those claiming under Tenant all rights now or hereafter existing to redeem by order or judgment of any court or by any legal process or writ, ▇▇▇▇▇▇'s right of occupancy of the Premises after any termination of this Lease.
Appears in 2 contracts
Sources: Lease Agreement, Lease Agreement
Termination of Lease. Should Landlord elect to Lessor may terminate this Lease pursuant or Lessee’s right to possession of the provisions abovePremises by notice to Lessee or any other lawful means, Landlord may in which case this Lease shall terminate and Lessee shall immediately surrender possession of the Premises to Lessor. In such event Lessor shall be entitled to recover from Tenant, as damages, the following: Lessee:
(ai) the The worth at the time of award of any the unpaid rental Rentals which had been earned at the time of the termination; plus rental which had been earned at the time of the termination; plus ;
(bii) the The worth at the time of award of the amount by which the unpaid rental Rentals which would have been earned after termination until the time of award exceeds the amount of such rental loss Tenant that Lessee proves could have been reasonably avoided; plus ;
(ciii) the The worth at the time of award (computed by discounting at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent) of the amount by which the unpaid rental Rentals for the balance of the Term after the time of award exceeds the amount of such rental loss that Tenant Lessee proves could be reasonably avoided; plus and
(div) any Any other amount amounts necessary to compensate Landlord Lessor for all the detriment proximately caused by Tenant’s failure to perform its obligation under this Lease the default by Lessee or which in the ordinary course of things events would be likely to result therefromresult, including, but not limited to, any including without limitation the reasonable costs or and expenses incurred by Landlord in Lessor for:
(iA) retaking Retaking possession of the Premises;
(B) Cleaning and making repairs and alterations (including installation of leasehold improvements, including reasonable attorneys’ fees thereforwhether or not the same shall be funded by a reduction of rent, (iidirect payment or otherwise) maintaining or preserving necessary to return the Premises after any default, (iii) to good condition and preparing the Premises for reletting reletting;
(C) Removing, transporting, and storing any of Lessee’s property left at the Premises (although Lessor shall have no obligation to a new tenantremove, including repairs transport, or alterations to store any of the property);
(D) Reletting the Premises, including without limitation, brokerage commissions, advertising costs, and attorneys’ fees;
(ivE) any leasing commissionAttorneys’ fees, or expert witness fees and court costs;
(vF) any other costs necessary or appropriate to relet Any unamortized real estate brokerage commissions paid in connection with this Lease; and
(G) Costs of carrying the Premises.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu of the foregoing such as may be permitted from time to time by the laws of Californiarepairs, maintenance, taxes and insurance premiums, utilities and security precautions, if any. As used in Subsection (a) and (b) above, the The “worth at the time of award” of the amounts referred to in Articles 23.a.(i) and 23.a.(ii) is computed by allowing interest at an annual rate equal to the maximum lawful rate. As used in Subsections greater of: ten percent (c10%); or five percent (5%) aboveplus the rate established by the Federal Reserve Bank of San Francisco, as of the “worth at 25th day of the time of award” is computed month immediately preceding the default by discounting such amount at the discount rate Lessee, on advances to member banks under Section 13 and 13(a) of the Federal Reserve Bank situated nearest Act, as now in effect or hereafter from time to time amended (the “Stipulated Rate”). The computation of the amount of rental loss that could be or could have been reasonably avoided by Lessor pursuant to California Civil Code section 1951.2 shall take into account the use restrictions set forth in Article 8.a. above except to the location extent that Lessee proves that under all circumstances the enforcement of the Mojave Airport at the time of award plus one percent (1%)use restriction would be unreasonable.
Appears in 2 contracts
Sources: Net Office Lease (Pure Storage, Inc.), Net Office Lease (SourceForge, Inc)
Termination of Lease. Should Landlord elect to terminate this Lease pursuant to the provisions above, Landlord may recover from Tenant, as damages, the following: (a) the worth at the time of award of any unpaid rental which had been earned at the time of the termination; plus rental which had been earned at the time of the termination; plus (b) the worth at the time of award of the amount by which the unpaid rental which would have been earned after termination until the time of award exceeds the amount of rental loss Tenant proves could have been reasonably avoided; plus (c) the worth at the time of award of the amount by which the unpaid rental for the balance of the Term after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided; plus (d) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligation under this Lease or which ordinary course of things would be likely to result therefrom, including, but not limited to, any costs or expenses incurred by Landlord in (i) retaking possession of the Premises, including reasonable attorneys’ fees therefor, (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (iv) any leasing commission, or (v) any other costs necessary or appropriate to relet the Premises.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of California. As used in Subsection (a) and (b) above, the “worth at the time of award” is computed by allowing interest at the maximum lawful rate. As used in Subsections (c) above, the “worth at the time of award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport at the time of award plus one percent (1%).
Appears in 2 contracts
Sources: Lease Agreement (Social Capital Hedosophia Holdings Corp.), Lease Agreement (Social Capital Hedosophia Holdings Corp.)
Termination of Lease. Should Landlord elect to Lessor may terminate this Lease pursuant or Lessee’s right to possession of the provisions abovePremises by notice to Lessee or any other lawful means, Landlord may in which case this Lease shall terminate and Lessee shall immediately surrender possession of the Premises to Lessor. In such event Lessor shall be entitled to recover from Tenant, as damages, the following: Lessee:
(ai) the The worth at the time of award of any the unpaid rental Rentals which had been earned at the time of the termination; plus rental which had been earned at the time of the termination; plus ;
(bii) the The worth at the time of award of the amount by which the unpaid rental Rentals which would have been earned after termination until the time of award exceeds the amount of such rental loss Tenant that Lessee proves could have been reasonably avoided; plus ;
(ciii) the The worth at the time of award (computed by discounting at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent) of the amount by which the unpaid rental Rentals for the balance of the Term after the time of award exceeds the amount of such rental loss that Tenant Lessee proves could be reasonably avoided; plus and
(div) any Any other amount amounts necessary to compensate Landlord Lessor for all the detriment proximately caused by Tenant’s failure to perform its obligation under this Lease the default by Lessee or which in the ordinary course of things events would be likely to result therefromresult, including, but not limited to, any including without limitation the reasonable costs or and expenses incurred by Landlord in Lessor for:
(iA) retaking Retaking possession of the Premises;
(B) Cleaning and making repairs and alterations (including installation of leasehold improvements, including reasonable attorneys’ fees thereforwhether or not the same shall be funded by a reduction of rent, (iidirect payment or otherwise) maintaining or preserving necessary to return the Premises after any default, (iii) to good condition and preparing the Premises for reletting reletting;
(C) Removing, transporting, and storing any of Lessee’s property left at the Premises (although Lessor shall have no obligation to a new tenantremove, including repairs transport, or alterations to store any of the property);
(D) Reletting the Premises, including without limitation, brokerage commissions, advertising costs, and attorneys’ fees;
(ivE) any leasing commissionAttorneys’ fees, or expert witness fees and court costs;
(vF) any other costs necessary or appropriate to relet Any unamortized real estate brokerage commissions paid in connection with this Lease; and
(G) Costs of carrying the Premises.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu of the foregoing such as may be permitted from time to time by the laws of Californiarepairs, maintenance, taxes and insurance premiums, utilities and security precautions, if any. As used in Subsection (a) and (b) above, the The “worth at the time of award” of the amounts referred to in Articles 23.a.(i) and 23.a.(ii) is computed by allowing interest at an annual rate equal to the maximum lawful rate. As used in Subsections greater of: ten percent (c10%); or five percent (5%) aboveplus the rate established by the Federal Reserve Bank of San Francisco, as of the “worth at 25th day of the time of award” is computed month immediately preceding the default by discounting such amount at the discount rate Lessee, on advances to member banks under Section 13 and 13(a) of the Federal Reserve Bank situated nearest Act, as not in effect or hereafter from time to time amended (the “Stipulated Rate”). The computation of the amount of rental loss that could be or could have been reasonably avoided by Lessor pursuant to California Civil Code section 1951.2 shall take into account the use restrictions set forth in Article 8.a. above except to the location extent that Lessee proves that under all circumstances the enforcement of the Mojave Airport at the time of award plus one percent (1%)use restriction would be unreasonable.
Appears in 2 contracts
Sources: Net Office Lease (Vyyo Inc), Net Office Lease (Borland Software Corp)
Termination of Lease. Should Landlord elect to can terminate this Lease pursuant and Tenant's right to possession of the provisions abovePremises by giving written notice of termination, and then re-enter the Premises and take possession thereof. No act by Landlord other than giving written notice to Tenant of such termination shall terminate this Lease. Upon termination, Landlord may has the right to recover from all damages incurred by Landlord as a result of Tenant's default, as damages, the following: including:
(a) the The worth at the time of award of any unpaid rental which rent that had been earned at the time of the such termination; plus rental which had been earned at the time of the termination; plus plus
(b) the The worth at the time of award of the amount by which the unpaid rental which rent that would have been earned after the date of termination until the time of award exceeds the amount of rental the loss of rent that Tenant proves could have been reasonably avoided; plus plus
(c) the The worth at the time of award of the amount by which the unpaid rental rent for the balance of the Lease Term after the time of award exceeds the amount of such rental loss that Tenant proves could be have been reasonably avoided; plus plus
(d) any Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligation under this Lease or which ordinary course of things would be likely to result therefrom's default, including, but not limited to, any costs or expenses incurred by Landlord in to (i) expenses for cleaning, repairing or restoring the Premises, (ii) expenses for altering, remodeling or otherwise improving the Premises for the purpose of reletting, (iii) brokers' fees and commissions, advertising costs and other expenses of reletting the Premises, (iv) costs of carrying the Premises, such as taxes, insurance premiums, utilities and security precautions, (v) expenses in retaking possession of the Premises, including reasonable (vi) attorneys’ ' fees thereforand costs, (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (ivvii) any leasing commissionunearned brokerage commissions paid in connection with this Lease, and (viii) reimbursement of any previously waived or (v) any abated Minimum Monthly Rent, Additional Rent or other costs necessary or appropriate to relet the Premises.charges; plus plus
(e) at At Landlord’s 's election, any such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of Californiaunder applicable law. As used in Subsection paragraphs (a) and (b) above, the “"worth at the time of award” is " shall be computed by allowing interest at the maximum lawful permissible legal rate. As used in Subsections paragraph (c) above, the “"worth at the time of award” is " shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport San Francisco at the time of award plus one percent (1%).
Appears in 2 contracts
Sources: Standard Industrial Net Lease (Genetronics Biomedical Corp), Standard Industrial Net Lease (Jmar Technologies Inc)
Termination of Lease. Should Landlord elect to terminate this Lease pursuant to the provisions of Sections 19.1 (a) or (c) above, Landlord may recover from Tenant, as damages, the following: (a) the The worth at the time of award of any unpaid rental which had been earned at the time of the termination; plus rental which had been earned at the time of the termination; , plus (b) the worth at the time of award of the amount by which the unpaid rental which would have been earned after termination until the time of award exceeds the amount of rental loss Tenant proves could have been reasonably avoided; , plus (c) the worth at the time of award of the amount by which the unpaid rental for the balance of the Term after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided; , plus (d) any other amount amounts necessary to compensate Landlord for all the detriment proximately caused by Tenant’s 's failure to perform its obligation obligations under this Lease or which which, in the ordinary course of things things, would be likely to result therefrom, therefrom including, but not limited to, any costs or expenses incurred by Landlord in (i) retaking possession of the Premises, including reasonable attorneys’ ' fees therefor, (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (iv) any leasing commissioncommissions, or (v) any other costs necessary or appropriate to relet the Premises.; , plus (e) at Landlord’s 's election, any other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of the State of California. As used in Subsection subparagraphs (a) and (b) above, the “"worth at the time of award” " is computed by allowing interest at the maximum lawful rate. As used in Subsections subparagraph (c) above, the “"worth at the time of award” " is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport Shopping Center at the time of award plus one percent (1%)[***].
Appears in 2 contracts
Sources: Retail Space Lease (Silicon Entertainment Inc /Ca/), Retail Space Lease (Silicon Entertainment Inc /Ca/)
Termination of Lease. Should Landlord elect to terminate In the event of the termination of this Lease pursuant by Landlord as provided for by subparagraph (i) of Section 19(b), Landlord shall be entitled to recover from Tenant all the fixed dollar amounts of Rent accrued and unpaid for the period up to and including such termination date, as well as all other additional sums payable by Tenant, or for which Tenant is liable or in respect of which Tenant has agreed to indemnify Landlord under any of the provisions aboveof this Lease, Landlord which may recover from Tenantbe then owing and unpaid, as damagesand all costs and expenses, the following: (a) the worth at the time of award of any unpaid rental which had been earned at the time of the termination; plus rental which had been earned at the time of the termination; plus (b) the worth at the time of award of the amount by which the unpaid rental which would have been earned after termination until the time of award exceeds the amount of rental loss Tenant proves could have been reasonably avoided; plus (c) the worth at the time of award of the amount by which the unpaid rental for the balance of the Term after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided; plus (d) any other amount necessary to compensate Landlord for all the detriment caused by Tenant’s failure to perform its obligation under this Lease or which ordinary course of things would be likely to result therefrom, including, but not limited to, any including without limitation court costs or and reasonable attorneys’ fees and expenses incurred by Landlord in the enforcement of its rights and remedies hereunder, and in addition, Landlord shall be entitled to recover an amount equal to the present value (icalculated using a discount rate equal to six percent (6%) retaking possession per annum) of the Premisesaggregate Base Rent payable for the period from the termination date stated in Landlord’s notice terminating this Lease until the date which would have been the Expiration Date but for such termination, less the present value (calculated using a discount rate equal to six percent (6%) per annum) of the fair rental value of the Premises for the same period (which fair rental value shall be calculated so as to include a reasonable vacancy period for reletting the Premises and deductions for reasonable expenses and inducements incurred by Landlord to achieve such reletting, including reasonable without limitation attorneys’ fees thereforand expenses, (ii) maintaining or preserving brokerage fees, advertising costs, rent abatements, tenant improvement allowances and the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (iv) any leasing commission, or (v) any other costs necessary or appropriate to relet the Premises.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of California. As used in Subsection (a) and (b) above, the “worth at the time of award” is computed by allowing interest at the maximum lawful rate. As used in Subsections (c) above, the “worth at the time of award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport at the time of award plus one percent (1%like).
Appears in 2 contracts
Sources: Office Lease (Archipelago Holdings L L C), Office Lease (Archipelago Holdings L L C)
Termination of Lease. Should Landlord elect to can terminate this Lease pursuant and Tenant’s right to possession of the provisions abovePremises by giving written notice of termination, and then re-enter the Premises and take possession thereof. No act by Landlord other than giving written notice to Tenant of such termination shall terminate this Lease. Upon termination, Landlord may has the right to recover from all damages incurred by Landlord as a result of Tenant’s default, as damages, the following: including:
(a) the The worth at the time of award of any unpaid rental which rent that had been earned at the time of the such termination; plus rental which had been earned at the time of the termination; plus plus
(b) the The worth at the time of award of the amount by which the unpaid rental which rent that would have been earned after the date of termination until the time of award exceeds the amount of rental the loss of rent that Tenant proves could have been reasonably avoided; plus plus
(c) the The worth at the time of award of the amount by which the unpaid rental rent for the balance of the Lease Term after the time of award exceeds the amount of such rental loss that Tenant proves could be have been reasonably avoided; plus plus
(d) any Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligation under this Lease or which ordinary course of things would be likely to result therefromdefault, including, but not limited to, any costs or expenses incurred by Landlord in to (i) expenses for cleaning, repairing or restoring the Premises, (ii) expenses for altering, remodeling or otherwise improving the Premises for the purpose of reletting, (iii) brokers’ fees and commissions, advertising costs and other expenses of reletting the Premises, (iv) costs of carrying the Premises, such as taxes, insurance premiums, utilities and security precautions, (v) expenses in retaking possession of the Premises, including reasonable (vi) attorneys’ fees thereforand costs, and (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (ivvii) any leasing commission, or (v) any other costs necessary or appropriate to relet the Premises.unearned brokerage commissions paid in connection with this Lease; plus plus
(e) at At Landlord’s election, any such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of Californiaunder applicable law. As used in Subsection paragraphs (a) and (b) above, the “worth at the time of award” is shall be computed by allowing interest at the maximum lawful ratepermissible legal rate (which currently is 10% per annum). As used in Subsections paragraph (c) above, the “worth at the time of award” is shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport San Francisco at the time of award plus one percent (1%).
Appears in 1 contract
Sources: Office Lease (Evoke Pharma Inc)
Termination of Lease. Should Landlord elect to terminate Upon the termination of this Lease pursuant to the provisions above, Landlord may recover from Tenant, as damages, the following: (a) the worth or at the time Lessee vacates the Premises, whichever is earlier, ▇▇▇▇▇▇ and ▇▇▇▇▇▇ agree that they will inspect the Premises together to examine the condition of award the Premises to make sure that the Premises are in the condition required by Lessor under this Lease. If ▇▇▇▇▇▇ fails to participate in the move-out inspection with ▇▇▇▇▇▇, Lessee hereby waives the right to dispute the Lessor’s statement of any unpaid rental the condition of Premises on which had been earned the security deposit disposition is based. The Lessor will provide a copy of the move-out inspection report to the Lessee, if Lessee so desires. In the event the condition of the Premises are in a state of repair other than the state and conditions which existed at the time commencement of this lease, including repairs made by Lessor pursuant to this Lease, usual wear and tear excepted, Lessee shall bear any expense incurred by Lessor in repairing the Premises and Lessor may utilize all or any portion of the termination; plus rental which had been earned at security deposit to recoup the time of the termination; plus (b) the worth at the time of award of the amount by which the unpaid rental which would have been earned after termination until the time of award exceeds the amount of rental loss Tenant proves could have been reasonably avoided; plus (c) the worth at the time of award of the amount by which the unpaid rental for the balance of the Term after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided; plus (d) any other amount necessary to compensate Landlord for all the detriment caused by Tenant’s failure to perform its obligation under this Lease or which ordinary course of things would be likely to result therefrom, including, but not limited to, any costs or expenses incurred by Landlord Lessor in (i) retaking possession repairing the Premises. Furthermore, if ▇▇▇▇▇▇ does not return all keys, including copies and/or duplicates, to the leased unit and mailbox then the cost of replacing all locks concerned will be at the expense of the Premises, including Lessee and deducted from the security deposit. Lessor shall provide Lessee with an itemized accounting of these repairs unless the Lessee has abandoned the rental unit and the Lessee’s whereabouts are unknown and cannot be ascertained after reasonable attorneys’ fees therefor, inquiry. The Lessee’s tenancy still exists during the time that the Lessee’s household’s personal possessions remain in the unit and the Lessee has not returned all keys to management (ii) maintaining even after the Lessee’s household has moved out with the intent to vacate and leave the complex). The tenancy exists until such time as the personal possessions have been removed voluntarily or preserving by legal means (in accordance with State and Local laws). It is also hereby understood by the Lessee that in the event that the Lessee fails to return all keys to the Premises after any default, (iii) preparing and the Lessor must rekey or change the locks to the Premises for reletting in order to a new tenant, including repairs or alterations secure possession to the Premises, (iv) any leasing commission, rental payments will be due from Lessee until such time as the locks are rekeyed or (v) any other costs necessary or appropriate to relet the Premiseschanged.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of California. As used in Subsection (a) and (b) above, the “worth at the time of award” is computed by allowing interest at the maximum lawful rate. As used in Subsections (c) above, the “worth at the time of award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport at the time of award plus one percent (1%).
Appears in 1 contract
Sources: Lease Agreement
Termination of Lease. Should If Landlord elect to terminate terminates this Lease pursuant to -------------------- the terms and provisions aboveof this Section 16, Landlord may recover from TenantTenant and Tenant shall pay to Landlord, on demand, the Rent and other charges payable by Tenant to Landlord through the date of termination, and, in addition, shall pay to Landlord as damages, at the followingelection of Landlord, either: (ax) an accelerated lump sum amount equal to the worth at the time of award of any unpaid rental which had been earned at the time present value (calculated using a discount rate equal to Landlord's reasonable estimate of the termination; plus rental which had been earned at the time yield, as of the date of termination; plus , produced by United States Treasury general obligation bills or notes (bas the case may be) maturing on the worth at date nearest in time to the time of award Expiration Date) of the amount by which Landlord's reasonable estimate of the unpaid aggregate amount of Rent owing from the date of such termination through the Expiration Date plus Landlord's reasonable estimate of the aggregate expenses of reletting the Premises exceeds Landlord's reasonable estimate of the fair rental value of the Premises for the same period (after deducting from such fair rental value the time needed to relet the Premises and the amount of concessions which would normally be given to a new tenant); or (y) amounts equal to the Rent which would have been earned after payable by Tenant had this Lease not been so terminated, payable upon the due dates therefor specified herein following such termination and until the time of award exceeds Expiration Date; provided, however, if Landlord shall re-let the amount of rental loss Premises during such period, then Landlord shall credit Tenant proves could have been reasonably avoided; plus (c) with the worth at net rents received by Landlord from such re-letting, such net rents to be determined by first deducting from the time of award of gross rents as and when received by Landlord from such re-letting the amount by which the unpaid rental for the balance of the Term after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided; plus (d) any other amount necessary to compensate Landlord for all the detriment caused by Tenant’s failure to perform its obligation under this Lease or which ordinary course of things would be likely to result therefrom, including, but not limited to, any costs or expenses incurred or paid by Landlord in (i) retaking possession tenninating this Lease, as well as the expenses of the Premisesre-letting, including reasonable attorneys’ fees therefor, (ii) maintaining or preserving the Premises after any default, (iii) altering and preparing the Premises for reletting new tenants, brokerage commissions, and all other similar and dissimilar expenses properly chargeable against the Premises and the rental therefrom, it being understood that any such re-letting rday be for a period equal to or shorter or longer than the remaining Tenn of this Lease; and provided, further, that (i) in no event shall Tenant be entitled to receive any excess of such net rents over the sums payable by Tenant to Landlord hereunder and (ii) in no event shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph or to a new tenant, including repairs or alterations credit in respect of any net rents from a re-letting except to the Premisesextent that such net rents are actually received by Landlord prior to the commencement of such suit. If the Premises or any part thereof shall be re-let in combination with other space, (iv) any leasing commissiona proper apportionment on a square foot area basis shall be made of the rent received from re-letting and other expenses of such reletting. Suit or suits for the recovery of such damages, or (v) any other costs necessary or appropriate to relet the Premises.; plus (e) at Landlord’s electioninstallments thereof, any other amounts in addition to or in lieu of the foregoing as may be permitted brought by Landlord from time to time by at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the laws date when the Term of California. As used in Subsection (a) and (b) above, the “worth at the time of award” is computed by allowing interest at the maximum lawful rate. As used in Subsections (c) above, the “worth at the time of award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport at the time of award plus one percent (1%)this Lease would have expired if it had not been terminated hereunder.
Appears in 1 contract
Sources: Lease (Convergent Networks Inc)
Termination of Lease. Should Landlord elect to terminate Terminate this Lease pursuant by giving Tenant written notice thereof, in which event Tenant shall pay to Landlord the provisions above, sum of: (1) all Rent accrued hereunder through the date of termination; (2) all amounts due under Section 18(a); and (3) Landlord may recover from Tenant, as damages, declare to be due and payable immediately the following: excess of (a) the worth at entire amount of Base Rent which would, plus any Additional Rent which would reasonably be expected to, become due and payable during the time of award of any unpaid rental which had been earned at the time remainder of the termination; plus rental which had Term (determined as though the Lease has not been earned at the time terminated) discounted to present value by using a discount factor of the termination; plus seven and five-tenths percent (7.5%) over (b) the worth at the time of award then fair market rental value of the amount by which Premises for the unpaid rental which would have been earned after termination until the time of award exceeds the amount of rental loss Tenant proves could have been reasonably avoided; plus (c) the worth at the time of award remainder of the amount Lese term discounted to present value by which using a discount factor of seven and five-tenths percent (7.5%) per annum. Upon the unpaid rental for acceleration of such amounts, Tenant agrees to pay the balance same at once, in addition to Landlord’s actual reletting costs with respect to any portion of the Term after Premises that has then been relet by Landlord plus Landlord’s reasonable estimate of reletting costs that would be incurred to relet any portion of the time Premises not then relet (it being acknowledged, however, that Landlord shall not be obligated to relet the Premises prior to exercising any rights or remedies under this Section 18(a), at Landlord’s address as provided herein. If Landlord exercises its rights under this Section 18(a), Landlord and Tenant agree that the payment of award exceeds the aforesaid accelerated amount of rental loss that Tenant proves could be reasonably avoided; plus (d) any other amount necessary to compensate Landlord and reletting costs shall not constitute a penalty or forfeiture but shall constitute liquidated damages for all the detriment caused by Tenant’s failure to perform its obligation under comply with the terms and provisions of this Lease or which ordinary course of things would be likely to result therefrom, including, but not limited to, any costs or expenses incurred by (Landlord in (i) retaking possession of the Premises, including reasonable attorneys’ fees therefor, (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (iv) any leasing commission, or (v) any other costs necessary or appropriate to relet the Premises.; plus (e) at and Tenant agreeing that Landlord’s election, any other amounts actual damages in addition such event are impossible to or in lieu of ascertain and that the foregoing as may be permitted from time to time by the laws of California. As used in Subsection (a) and (b) above, the “worth at the time of award” amount set forth above is computed by allowing interest at the maximum lawful rate. As used in Subsections (c) above, the “worth at the time of award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport at the time of award plus one percent (1%a reasonable estimate thereof).
Appears in 1 contract
Termination of Lease. Should Landlord elect to may terminate this Lease pursuant and Tenant's right to possession of the provisions abovePremises. If Tenant has abandoned and vacated the Premises, the mere entry of the Premises by Landlord in order to perform acts of maintenance, cure defaults, preserve the Premises or to attempt to relet the Premises, or the appointment of a receiver in order to protect the Landlord's interest under this Lease, shall not be deemed a termination of Tenant's right to possession or a termination of this Lease unless Landlord has notified Tenant in writing that this Lease is terminated. Notification of any default described in Paragraph 23 of this Lease shall be in lieu of, and not in addition to, any notice required under Section 1161 et seq. of the California Code of Civil Procedure. If Landlord terminates this Lease and Tenant's right to possession of the Premises, Landlord may recover from Tenant, as damages, the following: :
(a1) the The worth at the time of the award of any unpaid rental rent which had been earned at the time of the termination; plus rental which had been earned plus
(2) The worth at the time of the termination; plus (b) the worth at the time of award of the amount by which the unpaid rental rent which would have been earned after termination until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus plus
(c3) the The worth at the time of the award of the amount by which the unpaid rental rent for the balance of the Lease Term after the time of the award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided; plus plus
(d4) any Any other amount amounts necessary to compensate the Landlord for all of the detriment proximately caused by Tenant’s 's failure to perform its obligation obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, but not limited to, any costs or expenses incurred by Landlord in (i) retaking possession . All computations of the Premises, including reasonable attorneys’ fees therefor, (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (iv) any leasing commission, or (v) any other costs necessary or appropriate to relet the Premises.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of California. As used in Subsection (a) and (b) above, the “"worth at the time of the award” is " of amounts recoverable by Landlord under (1) and (2) hereof shall be computed by allowing interest at the maximum lawful rateDefault Rate. As used in Subsections (c) above, the “The "worth at the time of the award” is " recoverable by Landlord under (3) and the discount rate for purposes of determining any amounts recoverable under (4), if applicable, shall be computed by discounting such the amount recoverable by Landlord at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport Bank, San Francisco, California, at the time of the award plus one [***] percent (1[***]%). Upon termination of this Lease, whether by lapse of time or otherwise, Tenant shall immediately vacate the Premises and deliver possession to Landlord, and Landlord shall have the right to re-enter the Premises.
Appears in 1 contract
Termination of Lease. Should Landlord elect to may terminate this Lease and Tenant’s right of possession by giving Tenant written notice indicating the date upon which this Lease is terminated. Upon such termination, Landlord shall be entitled to recover from Tenant the following amounts: (i) all accrued and unpaid Base Rent, Operating Expenses, and other sums provided for in this Lease to the date of such termination; (ii) the unamortized cost to Landlord, computed and determined in accordance with generally accepted accounting principles, of the Improvements paid for and installed by Landlord pursuant to the provisions above, Landlord may recover from Tenant, as damages, the following: this Lease; (aiii) the worth at the time of award of any unpaid rental which had been earned at the time of the termination; plus rental which had been earned at the time of the termination; plus (b) the worth at the time of award of the amount by which the unpaid rental which would have been earned after termination until the time of award exceeds the amount of rental loss Tenant proves could have been reasonably avoided; plus (c) the worth at the time of award of the amount by which the unpaid rental for the balance of the Term after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided; plus (d) any other amount necessary to compensate Landlord for all the detriment caused by Tenant’s failure to perform its obligation under this Lease or which ordinary course of things would be likely to result therefrom, including, but not limited to, any costs or expenses incurred by Landlord in to relet the Premises or a portion thereof, including brokers commissions, repairs, alterations, improvements, and costs to remove and store Tenant’s property; (iiv) retaking possession the positive difference, if any, of the Premisespresent value of the Base Rent pursuant to this Lease for the remainder of the Lease Term had this Lease not been terminated less the present value of the then fair market rental value for the Premises for the remainder of the Lease Term had this Lease not been terminated, such present value computed in each case using 9%; and (v) any damages in addition thereto, including reasonable attorneys’ fees thereforfees, (ii) maintaining or preserving the Premises after any defaultcourt costs, (iii) preparing the Premises for reletting to a new tenantand collection services, including repairs or alterations to the Premises, (iv) any leasing commission, or (v) any other costs necessary or appropriate to relet the Premises.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu which Landlord shall have sustained by reason of the foregoing as may be permitted from time to time by the laws breach of California. As used in Subsection (a) and (b) above, the “worth at the time of award” is computed by allowing interest at the maximum lawful rate. As used in Subsections (c) above, the “worth at the time of award” is computed by discounting such amount at the discount rate any of the Federal Reserve Bank situated nearest to the location terms, conditions and covenants of the Mojave Airport at the time of award plus one percent (1%)this Lease.
Appears in 1 contract
Sources: Lease Agreement (Cardionet Inc)
Termination of Lease. Should In the event of termination, reentry or dispossess by Landlord elect under the Lease, Landlord may, at its option, either terminate the Sublease or take over all of the right, title and interest of Sublandlord under this Sublease, and Subtenant shall, at Landlord's option, attorn to terminate this Lease Landlord pursuant to the provisions aboveof this Sublease, except that Landlord may recover from Tenant, as damages, the following: shall not (a) be liable for any previous act, omission or negligence of Sublandlord, (b) be subject to any counterclaim, defense or offset, (c) be bound by any modification or amendment of the worth Sublease or by any prepayment of more than one month's rent and additional rent which shall be payable as provided in such Sublease, unless such modification or prepayment shall have been approved in writing by Landlord, or (d) be obligated to perform any repairs or other work in the Subleased Premises (or provide any landlord contribution, work allowance or free rent or abatement period) beyond Landlord's obligations under the Lease. In the event of any such attornment, (i) the Base Rent, tax and expense escalation payments, electricity payments and additional rental payments at the time of award such attornment to Landlord shall, to the extent applicable, be increased to equal the allocable (i.e., on a Rentable Square Foot basis) payments of any unpaid rental Fixed Rent, tax and operating expense escalation and other payments for which had been earned at the time Sublandlord is liable under Article 4 of the termination; plus Lease, electricity payments and additional rental which had been earned at payments as are due and payable by Sublandlord under the time of the termination; plus (b) the worth at the time of award of the amount by which the unpaid rental which would have been earned after termination until the time of award exceeds the amount of rental loss Tenant proves could have been reasonably avoided; plus (c) the worth at the time of award of the amount by which the unpaid rental Lease for the balance of the initial Term of the Lease and (if applicable) any Renewal Term of the Lease, and (ii) Subtenant shall, promptly upon Landlord's request, execute and deliver all instruments reasonably required to confirm such attornment. Subtenant hereby waives all rights under any present or future law to elect, by reason of the termination of Lease, to terminate this Sublease or surrender possession of the Subleased Premises. Subject to the foregoing and to Section 5.2 hereof, if for any reason whatsoever the term of the Lease shall terminate prior to the expiration date of this Sublease, this Sublease shall thereupon be terminated and Sublandlord shall not be liable to Subtenant by reason thereof; provided, however, that if (v) the Lease is terminated due to a default of Sublandlord under the Lease that is not in any way caused by Subtenant, (w) Landlord has not provided a Subtenant SNDA in favor of Subtenant in accordance with Section 16.3 hereof, (x) Landlord does not otherwise permit Subtenant to remain in the Subleased Premises from and after the time termination of award exceeds the amount Lease, (y) Subtenant enters into an arm’s length lease with a third party (i.e. not Landlord, Subtenant, or an affiliate of rental loss that Tenant proves could be reasonably avoided; plus Landlord or Subtenant) for substitute space not exceeding 32,545 rentable square feet for the duration of the stated Term (di.e. through December 30, 2023) any other amount necessary (the “Substitute Lease”) and provides a fully executed copy thereof to compensate Landlord Sublandlord, certified as true, complete, correct in all respects and as representing the full agreement by and between Subtenant and the landlord thereunder with respect to Subtenant’s leasing of space from said landlord, and (z) Subtenant’s rent due under the Substitute Lease is higher than the Rental due hereunder for the duration of the stated Term (i.e. December 30, 2023) (taking into account all relevant economic terms set forth in the detriment caused by Tenant’s failure to perform its obligation under this Lease or which ordinary course of things would be likely to result therefromSubstitute Lease, including, but not limited to, any costs abatements or expenses incurred by Landlord in rebates), then Sublandlord shall be liable to Subtenant for the difference between (A) the lesser of (i) retaking possession of the Premises, including reasonable attorneys’ fees therefor, rent due under the Substitute Lease and (ii) maintaining or preserving one hundred ten percent (110%) of the Premises after any defaultRental due hereunder, and (iiiB) preparing and the Premises Rental due hereunder, for reletting to a new tenantthe duration of the stated Term (i.e. December 30, including repairs or alterations 2023) (the “Rent Differential”). If payable pursuant to the Premisespreceding sentence, the Rent Differential shall be (ivI) payable by Sublandlord to Subtenant in arrears in monthly installments following Sublandlord’s receipt of invoices therefor, which invoices shall include the amounts paid by Subtenant under the Substitute Lease, a calculation of the Rent Differential for such month, back-up documentation for the foregoing and a certification from the Subtenant that the Substitute Lease has not been amended, modified or supplemented in any leasing commissionway that would affect the Rent Differential, and (II) reconciled promptly following December 30, 2023 to correct any overpayment or underpayment. Furthermore, if Subtenant (v1) incurs reasonable arm’s-length moving expenses in connection with moving to substitute space under a Substitute Lease (collectively, “Moving Expenses”), and (2) no later than one (1) month after the Moving Expenses are incurred by Subtenant provides to Sublandlord all invoices and relevant backup documentation with respect to the Moving Expenses (and any other costs necessary or appropriate to relet documentation as Sublandlord may reasonably request), all certified by Subtenant as true, complete and correct in all respects, then Sublandlord shall reimburse Subtenant for the Premises.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu lesser of the foregoing as may be permitted from time to time by the laws of California. As used in Subsection (a) such Moving Expenses and (b) aboveTwenty Thousand Dollars ($20,000.00), within thirty (30) days after receipt of all invoices and relevant backup and other documentation therefor. For the avoidance of doubt, Sublandlord shall not be liable to Subtenant for any amounts other than the Rent Differential, if applicable, and Moving Expenses, if applicable, in connection with the termination of this Sublease prior to the expiration of the Term as a result of the termination of the Lease. Upon such termination of this Sublease, the “worth at obligations of Sublandlord and Subtenant (other than the time obligation of award” is computed Subtenant for the payment of any monies then owing to Sublandlord and such other obligations that are expressly made to be effective upon the termination of this Sublease as are set forth in the Lease and incorporated herein by allowing interest at reference and/or as are set forth in this Sublease) shall cease, except that the maximum lawful rate. As used in Subsections (c) above, the “worth at the time of award” is computed by discounting parties shall remain liable for any obligations incurred prior to any such amount at the discount rate of the Federal Reserve Bank situated nearest termination date for any matter occurring prior to the location of the Mojave Airport at the time of award plus one percent (1%)such date.
Appears in 1 contract
Sources: Sublease Agreement (Datadog, Inc.)
Termination of Lease. Should Landlord elect to terminate this Lease pursuant to the provisions of Sections 19.1 (a) or (c) above, Landlord may recover from Tenant, as damages, the following: (a) the The worth at the time of award of any unpaid rental which had been earned at the time of the termination; plus rental which had been earned at the time of the termination; , plus (b) the worth at the time of award of the amount by which the unpaid rental which would have been earned after termination until the time of award exceeds the amount of rental loss Tenant proves could have been reasonably avoided; , plus (c) the worth at the time of award of the amount by which the unpaid rental for the balance of the Term after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided; , plus (d) any other amount amounts necessary to compensate Landlord for all the detriment proximately caused by Tenant’s 's failure to perform its obligation obligations under this Lease or which which, in the ordinary course of things things, would be likely to result therefrom, therefrom including, but not limited to, any costs or expenses incurred by Landlord in (i) retaking possession of the Premises, including reasonable attorneys’ ' fees therefor, (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (iv) any leasing commissioncommissions, or (v) any other costs necessary or appropriate to relet the Premises.; , plus (e) at Landlord’s 's election, any other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of the State of California. As used in Subsection subparagraphs (a) and (b) above, the “"worth at the time of award” " is computed by allowing interest at the maximum lawful rate. As used in Subsections subparagraph (c) above, the “"worth at the time of award” " is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport Shopping Center at the time of award plus one percent (1%).
Appears in 1 contract
Termination of Lease. Should Landlord elect to terminate this Lease pursuant to the provisions above, Landlord may recover from Tenant, as damages, the following: (a) Prior to the worth expiration or termination of this Lease, Lessee shall elect one of the following options with respect to each Improvement then subject to this Lease, which option shall be exercised by providing Lessor with written notice of Lessee’s intention to exercise such option at least forty-five (45) days prior to the termination of this Lease:
(i) purchase all or any of the Leasehold Improvements from Lessor by payment of a purchase price equal to the fair market value of such Leasehold Improvements at the time of award of any unpaid rental such termination, which had been earned shall be payable in full, in cash, at the time of the such termination; plus rental which had been earned at the time or
(ii) deliver all or any of the termination; plus Leasehold Improvements to Lessor, subject to the rights of the lessors of the Underlying Office Leases, if any, and assign to Lessor (with the written consent of the lessor under the Underlying Office Lease, if required by such Underlying Office Lease) the Underlying Office Lease for the Leased Office where the Leasehold Improvements are located.
(b) For the worth at the time purposes of award of the amount by which the unpaid rental which would have been earned after termination until the time of award exceeds the amount of rental loss Tenant proves could have been reasonably avoided; plus (c) the worth at the time of award of the amount by which the unpaid rental for the balance of the Term after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided; plus (d) any other amount necessary to compensate Landlord for all the detriment caused by Tenant’s failure to perform its obligation under this Lease or which ordinary course of things would be likely to result therefrom, including, but not limited to, any costs or expenses incurred by Landlord in (i) retaking possession of the Premises, including reasonable attorneys’ fees therefor, (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (iv) any leasing commission, or (v) any other costs necessary or appropriate to relet the Premises.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of California. As used in Subsection (a) and (bParagraph 6(a)(i) above, the term “worth fair market value” of the Leasehold Improvements shall have the same meaning as set forth in Paragraph 4(d) above. If Lessee exercises the option described in Paragraph 6(a)(i) above, upon payment of the purchase price, Lessor shall deliver a ▇▇▇▇ of Sale and such other documentation as is reasonably required to transfer title to the Leasehold Improvements purchased by Lessee.
(c) If Lessee exercises the option set forth in Paragraph 6(a)(ii) above, Lessee shall deliver up the Leasehold Improvements to Lessor in as good condition as such Leasehold Improvements were in at the time of award” is computed when the same were first delivered to Lessee hereunder, ordinary wear and tear and damage by allowing interest at the maximum lawful rate. As used in Subsections (c) above, the “worth at the time of award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport at the time of award plus one percent (1%)casualty and condemnation excepted.
Appears in 1 contract
Sources: Leasehold Improvements Lease (Huntington Preferred Capital Inc)
Termination of Lease. Should Landlord elect to terminate Upon termination of this Lease pursuant to the provisions Section 42.2 above, Landlord may recover from Tenantthis Lease shall be of no further force and effect except as to any obligations existing as of such date that survive termination of the Lease, and all Rent shall be adjusted as damagesof such date. As compensation for the early termination of Lessee's leasehold estate hereunder, the following: Lessor shall pay to Lessee (a) an amount equal to the worth at the time of award of any unpaid rental which had been earned at the time Net Present Value (as hereinafter defined) as of the termination; plus rental which had been earned at date of such sale (the time of the termination; plus (b) the worth at the time of award of the amount by which the unpaid rental which would have been earned after termination until the time of award exceeds the amount of rental loss Tenant proves could have been reasonably avoided; plus (c) the worth at the time of award of the amount by which the unpaid rental for the balance of the Term after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided; plus (d) any other amount necessary to compensate Landlord for all the detriment caused by Tenant’s failure to perform its obligation under this Lease or which ordinary course of things would be likely to result therefrom, including, but not limited to, any costs or expenses incurred by Landlord in (i) retaking possession of the Premises, including reasonable attorneys’ fees therefor, (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (iv) any leasing commission, or (v) any other costs necessary or appropriate to relet the Premises.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of California. As used in Subsection (a"Termination Payment") and (b) a sum equal the liquidated damages required for early termination of the Franchise Agreement (to the extent caused by Lessor's termination). No Termination Payment or Franchise Agreement termination payment shall be payable where (i) such sale by Lessor is made subject to this Lease (and Lessee shall attorn to such purchaser) or (ii) Lessor causes such purchaser to offer Lessee a management agreement on economic and other material terms at least as advantageous to the Lessee as the economic and other material terms of this Lease and Prime or its successor or assign remains as Franchisor. In lieu of the payment due under (a) above, Lessee may accept at its option Lessor's offer, if any, to lease to the “worth at Lessee or an Affiliate of Lessee one or more substitute hotel facilities pursuant to one or more leases (the time "Substitute Leases") that would create for Lessee and the applicable Affiliate of award” is computed Lessee leasehold estates that have an aggregate Fair Market Value of no less than the Fair Market Value of the then remaining term of the Lease with respect to the Leased Property and otherwise be on terms not materially less favorable to Lessee than those of this Lease. If Lessee elects the option and enters into Substitute Leases, Lessor shall have no further obligations to Lessee with respect to payments under (a), above, for early termination of this Lease. The "Net Present Value" shall mean the fair market value of the remaining Term (excluding any unexercised renewal terms) of this Lease, which shall be deemed to be the sum of 50% of the amount calculated by allowing interest at multiplying (a) the maximum lawful rate. As used average annual EBITDA (i.e., net earnings before interest, taxes, depreciation and amortization) to Lessee net of all Rent (without duplication) for the three (3) Fiscal Years ended immediately prior to the date of sale, times (b) the number of Fiscal Years (or portions thereof) remaining in Subsections the Lease Term excluding renewal terms times (c) above, one hundred percent (100%) plus the “worth at average annual percentage increase in the time of award” is computed by discounting such amount at Consumer Price Index during the discount rate of the Federal Reserve Bank situated nearest three (3) Fiscal Years ended immediately prior to the location date of sale, and (d) discounting the Mojave Airport at product of (a) times (b) times (c) above by the time of award Base Rate plus one percent (1%)percent.
Appears in 1 contract
Sources: Lease Agreement (Equity Inns Inc)
Termination of Lease. Should Upon the occurrence of a default by Tenant hereunder, Landlord elect to may, terminate this Lease pursuant by giving written notice thereof to Tenant (whereupon all obligations and liabilities of Landlord hereunder shall terminate) and, without further notice and without liability, repossess the provisions above, Premises. Landlord shall be entitled to recover all loss and damage Landlord may recover from Tenantsuffer by reason of such termination, as damageswhether through inability to relet the Premises on satisfactory terms or otherwise, including without limitation, the following: following (without duplication by any element of damages):
(a) accrued Rent to the worth date of termination and late charges, plus interest thereon at the time of award default interest rate from the date due through the date paid or date of any unpaid rental which had been earned at judgment or award by any court of competent jurisdiction, the time unamortized cost of Tenant's improvements, brokers' fees and commissions, attorneys' fees, moving allowances and any other costs incurred by Landlord in connection with making or executing this Lease, the termination; plus rental which had been earned at cost of recovering the time Premises and the costs of reletting the termination; plus Premises (including, without limitation, advertising costs, brokerage fees, leasing commissions, reasonable attorneys' fees and refurbishing costs and other costs in readying the Premises for a new tenant);
(b) the worth at the time of award present value of the amount by which Rent (discounted at a rate of interest equal to eight percent [8.0%] per annum [the unpaid rental which "Discount Rate"]) that would have been earned after termination until the time of award exceeds the amount of rental loss Tenant proves could have been reasonably avoided; plus (c) the worth at the time of award of the amount by which the unpaid rental accrued under this Lease for the balance of the Term after Lease term but for such termination, reduced by the reasonable fair market rental value of the Premises for such balance of the Lease term (determined from the present value of the actual base rents, discounted at the Discount Rate, received and to be received from Landlord's reletting of the Premises or, if the Premises are not relet, the base rents, discounted at the Discount Rate, that would be received from a comparable lease and comparable tenant for a comparable term and taking into account among other things, the condition of the Premises, market conditions and the period of time of award exceeds the amount of rental loss Premises may reasonably remain vacant before Landlord is able to re-lease the same to a suitable replacement tenant, it being agreed that Tenant proves could be reasonably avoidedLandlord shall have no obligation to relet or attempt to relet the Premises); plus (d) and any other amount amounts necessary to compensate Landlord for all the detriment damages proximately caused by Tenant’s 's failure to perform its obligation obligations under this Lease Lease. For purposes of computing the amount of Rent herein that would have accrued for the termination date, Tenant's obligation for Percentage Rent shall be projected based on Tenant's average annual Gross Sales for the 36 months (or which ordinary course of things would be likely to result therefromlesser period, including, but not limited to, any costs or expenses incurred by Landlord in (i) retaking possession if 36 months of the PremisesTerm have not expired) preceding Tenant's Default, including reasonable attorneys’ fees thereforand Tenant's obligations for Taxes, Center Expenses, and Promotion and Media Fund Charges shall be projected, based upon the average rate of increase, if any, in such items from the Commencement Date through the termination date;
(iic) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (iv) any leasing commission, or (v) plus any other costs or amounts necessary or appropriate to relet the Premisescompensate Landlord for its damages.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of California. As used in Subsection (a) and (b) above, the “worth at the time of award” is computed by allowing interest at the maximum lawful rate. As used in Subsections (c) above, the “worth at the time of award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport at the time of award plus one percent (1%).
Appears in 1 contract
Termination of Lease. Should Landlord elect to Lessor may terminate this Lease and all rights of Lessee hereunder by giving Lessee written notice that this Lease is terminated, in which event the Term of this Lease shall terminate and all right, title and interest of Lessee hereunder shall expire on the date stated in such notice. Upon such termination, Lessor shall be entitled to recover from Lessee all the fixed dollar amounts of Total Rental accrued and unpaid for the period up to and including such date of termination, as well as all other additional sums payable by Lessee or for which Lessee is liable or in respect of which Lessee has agreed to indemnify Lessor under the provisions of this Lease. In addition, Lessor shall be entitled to recover as damages for the loss of the bargain and not as a penalty (i) the unamortized cost to Lessor, computed and determined in accordance with generally accepted accounting principles, of the Lessee improvements and alterations, if any, paid for and installed by Lessor pursuant to the provisions abovethis Lease, Landlord may recover from Tenant, as damages, the following: plus (aii) the worth aggregate sum which at the time of award such termination represents the excess, if any, of any unpaid rental which had been earned the present value of the aggregate Total Rental at the time same annual rate for the remainder of the termination; plus rental which had been earned at Term as then in effect pursuant to the time applicable provisions of this Lease, over the then present value of the termination; plus (b) the worth at the time of award then aggregate fair total rental value of the amount by which the unpaid rental which would have been earned after termination until the time of award exceeds the amount of rental loss Tenant proves could have been reasonably avoided; plus Leased Premises (cbased on gross rent) the worth at the time of award of the amount by which the unpaid rental for the balance of the Term after Lease Term, such present worth to be computed in each case on the time basis of award exceeds a five percent (5%) per annum discount from the amount of rental loss that Tenant proves could be reasonably avoided; respective dates upon which such Total Rentals would have been payable hereunder had this Lease not been terminated, plus (diii) any other amount necessary to compensate Landlord for all the detriment caused by Tenant’s failure to perform its obligation under this Lease or which ordinary course of things would be likely to result therefrom, including, but not limited to, any costs or expenses incurred by Landlord damages in (i) retaking possession of the Premisesaddition thereto, including reasonable attorneys’ fees thereforand court costs, (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (iv) any leasing commission, or (v) any other costs necessary or appropriate to relet the Premises.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu which Lessor shall have sustained by reason of the foregoing as may be permitted from time to time by the laws breach of California. As used in Subsection (a) and (b) above, the “worth at the time of award” is computed by allowing interest at the maximum lawful rate. As used in Subsections (c) above, the “worth at the time of award” is computed by discounting such amount at the discount rate any of the Federal Reserve Bank situated nearest to covenants of this Lease other than for the location payment of the Mojave Airport at the time of award plus one percent (1%)Total Rental.
Appears in 1 contract
Termination of Lease. Should Landlord elect to terminate If this Lease and the Term shall terminate as provided in Article 14, or by or under any summary proceeding or any other action or proceeding, or if Landlord shall re enter the Premises as provided in this Article, or by or under any summary proceeding or any other legal action or proceeding then, in any of said events:
(1) Until Landlord elects lump sum liquidated damages described in paragraph (5) below, Tenant shall pay to Landlord all Fixed Rent and Additional Rent to the date upon which this Lease and the Term shall have terminated or to the date of re entry upon the Premises by Landlord, as the case may be;
(2) Landlord shall be entitled to retain all monies, if any, paid by Tenant to Landlord, whether as advance rent, security or otherwise, but such monies shall be credited by Landlord against any Fixed Rent or Additional Rent due at the time of such termination or re entry, or at Landlord’s option, against any damages payable by Tenant; *Omitted information is the subject of a request for confidential treatment pursuant to Rule 24b-2 under the Securities Exchange Act of 1934 and has been filed separately with the Securities and Exchange Commission.
(3) Tenant shall be liable for and shall pay to Landlord any deficiency between (i) the Fixed Rent or Additional Rent payable hereunder for the period which otherwise would have constituted the unexpired portion of the Term (conclusively presuming the Additional Rent to be the same as was payable for the year immediately preceding such termination or re entry) and (ii) the net amount, if any, of rents (“Net Rent”) collected under any reletting effected pursuant to the provisions aboveof Section 15.1(b) for any part of such period (first deducting from the rents collected under any such reletting all of Landlord’s expenses in connection with the termination of this Lease or Landlord’s re entry upon the Premises and in connection with such reletting including but not limited to all repossession costs, brokerage commissions, legal expenses, attorneys’ fees, alteration costs and other expenses for preparing the Premises for such reletting);
(4) Any such deficiency shall be paid in monthly installments by Tenant on the days specified in this Lease for the payment of installments of Fixed Rent. Landlord shall be entitled to recover from Tenant each monthly deficiency as the same shall arise and no suit to collect the amount of the deficiency for any month shall prejudice Landlord’s right to collect the deficiency for any subsequent month by a similar proceeding. Alternatively, suit or suits for the recovery of such deficiencies may be brought by Landlord from time to time at its election;
(5) Whether or not Landlord shall have collected any monthly deficiencies as aforesaid, Landlord may shall, at its sole option, be entitled to recover from Tenant, and Tenant shall pay Landlord, on demand, as and for liquidated and agreed final damages, an amount equal to the following: sum of (ai) the worth all sums to be paid by Tenant and not then paid at the time of award of any unpaid rental which had been earned at the time of the termination; plus rental which had been earned at the time of the termination; such election, plus (bii) the worth at the time of award of the amount by which the unpaid rental Fixed Rent and Additional Rent payable hereunder for the period which otherwise would have constituted the unexpired portion of the Term following such election (conclusively presuming the Additional Rent to be the same as was payable for the year immediately preceding such termination or re entry) exceeds then fair and reasonable rental value of the Premises for the same period, both discounted to present worth at the rate of ten percent (10%) per annum. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, the Premises, or any part thereof, shall have been earned after termination until relet by Landlord for the time period which otherwise would have constituted the unexpired portion of award exceeds the Term, or any part thereof, the amount of rent upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental loss Tenant proves could have been reasonably avoided; plus (c) value for the worth at part or the time of award whole of the amount by which Premises so relet during the unpaid rental for the balance term of the Term after the time of award exceeds the amount of rental loss that reletting, provided said reletting is on commercially reasonable terms. In no event shall Landlord recover double damages from Tenant proves could be reasonably avoided; plus by pursuing alternative recoveries.
(d6) any other amount necessary to compensate Landlord for all the detriment caused by Tenant’s failure to perform its obligation under this Lease or which ordinary course of things would be likely to result therefrom, including, but not limited to, any costs or expenses incurred by Landlord in In no event (i) retaking possession shall Tenant be entitled to receive any excess of such Net Rent over the Premisessums payable by Tenant to Landlord hereunder, including reasonable attorneys’ fees therefor, or (ii) maintaining shall Tenant be entitled in any suit for the collection of deficiencies or preserving damages pursuant to this Section to a credit in respect of any Net Rent from a reletting except to the extent that such Net Rent is actually received by Landlord prior to the commencement of such suit. If the Premises after or any defaultpart thereof should be relet in combination with other space, (iii) preparing the Premises for reletting to then proper apportionment on a new tenant, including repairs or alterations to the Premises, (iv) any leasing commission, or (v) any other costs necessary or appropriate to relet the Premises.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu square foot area basis shall be made of the foregoing as may be permitted rent received from time to time by the laws of California. As used in Subsection (a) such reletting and (b) above, the “worth at the time of award” is computed by allowing interest at the maximum lawful rate. As used in Subsections (c) above, the “worth at the time of award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest expenses of reletting. *Omitted information is the subject of a request for confidential treatment pursuant to Rule 24b-2 under the location Securities Exchange Act of 1934 and has been filed separately with the Mojave Airport at the time of award plus one percent (1%)Securities and Exchange Commission.
Appears in 1 contract
Sources: Lease (Alexion Pharmaceuticals Inc)
Termination of Lease. Should Landlord elect to ▇▇▇▇▇▇▇▇ can terminate this Lease pursuant and ▇▇▇▇▇▇’s right to possession of the provisions abovePremises by giving written notice of termination, and then re-enter the Premises and take possession thereof. No act by Landlord other than giving written notice to Tenant of such termination shall terminate this Lease. Upon termination, Landlord may has the right to recover from Tenantall damages incurred by Landlord as a result of ▇▇▇▇▇▇’s default, as damages, the following: including:
(a) the The worth at the time of award of any unpaid rental which rent that had been earned at the time of the such termination; plus rental which had been earned at the time of the termination; plus plus
(b) the The worth at the time of award of the amount by which the unpaid rental which rent that would have been earned after the date of termination until the time of award exceeds the amount of rental the loss of rent that Tenant proves could have been reasonably avoided; plus plus
(c) the The worth at the time of award of the amount by which the unpaid rental rent for the balance of the Lease Term after the time of award exceeds the amount of such rental loss that Tenant proves could be have been reasonably avoided; plus plus
(d) any Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligation under this Lease or which ordinary course of things would be likely to result therefromdefault, including, but not limited to, any costs or expenses incurred by Landlord in to (i) expenses for cleaning, repairing or restoring the Premises, (ii) expenses for altering, remodeling or otherwise improving the Premises for the purpose of reletting, (iii) brokers’ fees and commissions, advertising costs and other expenses of reletting the Premises, (iv) costs of carrying the Premises, such as taxes, insurance premiums, utilities and security precautions, (v) expenses in retaking possession of the Premises, including reasonable (vi) attorneys’ fees thereforand costs, (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (ivvii) any leasing commissionunearned brokerage commissions paid in connection with this Lease, and (viii) reimbursement of any previously waived or (v) any abated Minimum Monthly Rent, Additional Rent or other costs necessary or appropriate to relet the Premises.charges; plus plus
(e) at At Landlord’s election, any such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of Californiaunder applicable law. As used in Subsection paragraphs (a) and (b) above, the “worth at the time of award” is shall be computed by allowing interest at the maximum lawful permissible legal rate. As used in Subsections paragraph (c) above, the “worth at the time of award” is shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport San Francisco at the time of award plus one percent (1%).
Appears in 1 contract
Sources: Standard Industrial Net Lease (CardioVascular BioTherapeutics, Inc.)
Termination of Lease. Should Landlord elect to can terminate this Lease pursuant and Tenant’s right to possession of the provisions abovePremises by giving written notice of termination, and then re-enter the Premises and take possession thereof. No act by Landlord other than giving written notice to Tenant of such termination shall terminate this Lease. Upon termination, Landlord may has the right to recover from all damages incurred by Landlord as a result of Tenant’s default, as damages, the following: including:
(a) the The worth at the time of award of any unpaid rental which rent that had been earned at the time of the such termination; plus rental which had been earned at the time of the termination; plus plus
(b) the The worth at the time of award of the amount by which the unpaid rental which rent that would have been earned after the date of termination until the time of award exceeds the amount of rental the loss of rent that Tenant proves could have been reasonably avoided; plus plus
(c) the The worth at the time of award of the amount by which the unpaid rental rent for the balance of the Lease Term after the time of award exceeds the amount of such rental loss that Tenant proves could be have been reasonably avoided; plus plus
(d) any Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligation under this Lease or which ordinary course of things would be likely to result therefromdefault, including, but not limited to, any costs or expenses incurred by Landlord in to (i) expenses for cleaning, repairing or restoring the Premises, (ii) expenses for altering, remodeling or otherwise improving the Premises for the purpose of reletting, (iii) brokers’ fees and commissions, advertising costs and other expenses of reletting the Premises, (iv) costs of carrying the Premises, such as taxes, insurance premiums, utilities and security precautions, (v) expenses in retaking possession of the Premises, including reasonable (vi) attorneys’ fees thereforand costs, (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (ivvii) any leasing commissionunearned brokerage commissions paid in connection with this Lease, and (viii) reimbursement of any previously waived or (v) any other costs necessary or appropriate to relet the Premises.abated Minimum Monthly Rent and/or Additional Rent; plus plus
(e) at At Landlord’s election, any such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of Californiaunder applicable law. As used in Subsection paragraphs (a) and (b) above, the “worth at the time of award” is shall be computed by allowing interest at the maximum lawful permissible legal rate. As used in Subsections paragraph (c) above, the “worth at the time of award” is shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport San Francisco at the time of award plus one percent (1%).
Appears in 1 contract
Termination of Lease. Should Landlord elect to can terminate this Lease pursuant and Tenant's right to possession of the provisions abovePremises by giving written notice of termination, and then re-enter the Premises and take possession thereof. No act by Landlord other than giving written notice to Tenant of such termination shall terminates this Lease. Upon termination, Landlord may has the right to recover from all damages incurred by Landlord as a result of Tenant's default, as damages, the following: including:
(a) the The worth at the time of award of any unpaid rental which rent that had been earned at the time of the such termination; plus rental which had been earned at the time of the termination; plus plus
(b) the The worth at the time of award of the amount by which the unpaid rental which rent that would have been earned after the date of termination until the time of award exceeds the amount of rental the loss of rent that Tenant proves could have been reasonably avoided; plus plus
(c) the The worth at the time of award of the amount by which the unpaid rental rent for the balance of the Lease Term after the time of award exceeds the amount of such rental loss that Tenant proves could be have been reasonably avoided; plus plus
(d) any Any other amount necessary to compensate Landlord for all the detriment approximately caused by Tenant’s failure to perform its obligation under this Lease or which ordinary course of things would be likely to result therefrom's default, including, but not limited toto expenses for cleaning, any repairing or restoring the Premises, (ii) expenses for altering, remodeling or otherwise improving the Premises for the purpose of reletting, (iii) brokers' fees and commissions, advertising costs or and other expenses incurred by Landlord of reletting the Premises, (iv) costs of carrying the Premises such as taxes, insurance premiums, utilities and security precautions, (v) expenses in (i) retaking possession of the Premises, including reasonable (vi) attorneys’ ' fees thereforand costs, (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (ivvii) any leasing commission, unearned brokerage commissions paid in connection with this Lease and (viii) reimbursement of any previously waived or (v) any other costs necessary or appropriate to relet the Premises.abated Minimum Monthly Rent and/or Additional Rent; plus plus
(e) at At Landlord’s 's election, any such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of Californiaunder applicable California law. As used in Subsection paragraphs (a) and (b) above, the “"worth at the time of award” is " shall be computed by allowing interest at the maximum lawful permissible legal rate. As used in Subsections paragraph (c) above, the “"worth at the time of award” is " shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport San Francisco at the time of award plus one percent (1%).
Appears in 1 contract
Sources: Standard Industrial Gross Lease (Inland Entertainment Corp)
Termination of Lease. Should Upon the occurrence of an Event of Default, Landlord elect to may terminate this Lease pursuant by giving written notice of such termination to Tenant, which termination shall be effective as of the date of such notice or any later date therefor specified by Landlord in such notice (and on the effective date of such termination, all obligations and liabilities of Landlord hereunder shall terminate) and, without further notice and without liability, Landlord shall have the right to repossess the Leased Premises, expel or remove Tenant and any other person or entity who may be occupying the Leased Premises, remove any and all of their property from the Leased Premises, and change the locks. Landlord shall be entitled to recover all loss and damage Landlord may suffer by reason of such termination, whether through inability to relet the Leased Premises on satisfactory terms or otherwise, including without limitation, the following (without duplication by any element of damages):
(1) accrued Rent to the provisions aboveeffective date of termination together with late charges and interest thereon at the Default Rate from the date through the date paid; plus
(2) the unamortized cost of the Tenant Finish Improvements, brokers' fees and commissions, attorneys' fees; allowances for moving or tenant finish expenses and any other costs incurred by Landlord may recover in connection with making or executing this Lease to the extent such amounts have not already been recovered by Landlord from TenantTenant in its damages for loss of rent (such amortized costs being the total of all such costs, as damagestimes a fraction, the following: denominator of which shall be the total number of months of the stated Lease Term, and the numerator of which shall be the number of months from the Commencement Date to the effective date of termination); plus
(a3) the worth at cost of recovering the time Leased Premises, including without limitation, attorneys' fees; plus
(4) all costs of award enforcing this Lease, including, without limitation, the provisions of this subparagraph A against Tenant and any unpaid rental which had been earned at Guarantor; plus
(5) all reasonable costs and expenses incurred by Landlord for any repairs, maintenance, changes, alterations and improvements to the time Leased Premises (whether to prevent damage or to prepare the Leased Premises for reletting), brokerage commissions, advertising costs, attorneys' fees, any economic incentives given to replacement tenants, and costs of collecting rent from replacement tenants (collectively, "Reletting Costs"); plus
(6) the present value of the termination; plus rental which had been earned Rent (discounted at a rate of interest equal to twelve percent [12%] per annum [the time of the termination; plus (b"Discount Rate") the worth at the time of award of the amount by which the unpaid rental which that would have been earned after termination until the time of award exceeds the amount of rental loss Tenant proves could have been reasonably avoided; plus (c) the worth at the time of award of the amount by which the unpaid rental accrued under this Lease for the balance of the Lease Term after but for such termination, reduced by the reasonable fair market rental value of the Leased Premises for such balance of the Lease Term (determined from the present value of the actual minimum or base rents and operating Expenses, discounted at the Discount Rate, received and to be received from Landlord's reletting of the Leased Premises or, if the Leased Premises have not been relet, the minimum or base rents, discounted at the Discount Rate, that would be received from a comparable lease and comparable tenant for a comparable term and taking into account, among other things, the condition of the Leased Premises, market conditions and the period of time the Leased Premises may reasonably remain vacant before Landlord is able to release the same to a suitable replacement tenant, it being agreed, however, that Landlord's obligation to relet or attempt to relet the Leased Premises is subject to the provisions of award exceeds subparagraph J below). For purposes of computing the amount of rental loss Rent that Tenant proves could would have accrued after the effective date of termination, obligations for real estate taxes, insurance costs and Operating Expenses shall be reasonably avoidedprojected, based upon the rate of increase, if any, in such items from the Commencement Date through the termination date; plus plus
(d7) any other amount costs or amounts necessary to compensate Landlord for all the detriment damages caused by Tenant’s 's failure to perform its obligation under this Lease or which ordinary course of things would be likely to result therefrom, including, but not limited to, any costs or expenses incurred by Landlord in (i) retaking possession of the Premises, including reasonable attorneys’ fees therefor, (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (iv) any leasing commission, or (v) any other costs necessary or appropriate to relet the Premisesobligations hereunder.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of California. As used in Subsection (a) and (b) above, the “worth at the time of award” is computed by allowing interest at the maximum lawful rate. As used in Subsections (c) above, the “worth at the time of award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport at the time of award plus one percent (1%).
Appears in 1 contract
Termination of Lease. Should Landlord elect to terminate In the event of the termination of this Lease pursuant by Landlord as provided for by subparagraph (i) of Section 19(b), Landlord shall be entitled to recover from Tenant all the fixed dollar amounts of Rent accrued and unpaid for the period up to and including such termination date, as well as all other additional sums payable by Tenant, or for which Tenant is liable or in respect of which Tenant has agreed to indemnify Landlord under any of the provisions aboveof this lease, Landlord which may recover from Tenantbe then owing and unpaid, as damagesand all costs and expenses, the following: (a) the worth at the time of award of any unpaid rental which had been earned at the time of the termination; plus rental which had been earned at the time of the termination; plus (b) the worth at the time of award of the amount by which the unpaid rental which would have been earned after termination until the time of award exceeds the amount of rental loss Tenant proves could have been reasonably avoided; plus (c) the worth at the time of award of the amount by which the unpaid rental for the balance of the Term after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided; plus (d) any other amount necessary to compensate Landlord for all the detriment caused by Tenant’s failure to perform its obligation under this Lease or which ordinary course of things would be likely to result therefrom, including, but not limited to, any including without limitation court costs or and reasonable attorneys’ fees and expenses incurred by Landlord in the enforcement of its rights and remedies hereunder, and in addition, Landlord shall be entitled to recover an amount equal to the present value (icalculated using a discount rate equal to eight percent (8%) retaking possession per annum) of the Premisesaggregate Base Rent and Additional Rent payable for the period from the termination date stated in Landlord’s notice terminating this lease until the date which would have been the Expiration Date but for such termination, less the present value (calculated using a discount rate equal to eight percent (8%) per annum) of the fair rental value of the Premises for the same period (which fair rental value shall be calculated so as to include a reasonable vacancy period for reletting the Premises and deductions for reasonable expenses and inducements incurred by Landlord to achieve such reletting, including reasonable without limitation attorneys’ fees thereforand expenses, (ii) maintaining or preserving brokerage fees, advertising costs, rent abatements, tenant improvement allowances and the Premises after any default, (iii) preparing like). The rights and remedies of Landlord pursuant to this Section 19 shall survive the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (iv) any leasing commission, or (v) any other costs necessary or appropriate to relet the Premisestermination of this lease.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of California. As used in Subsection (a) and (b) above, the “worth at the time of award” is computed by allowing interest at the maximum lawful rate. As used in Subsections (c) above, the “worth at the time of award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport at the time of award plus one percent (1%).
Appears in 1 contract
Sources: Office Lease (Ulta Salon, Cosmetics & Fragrance, Inc.)
Termination of Lease. Should In the event of any such default by Tenant not cured within the applicable notice and cure periods, then, in addition to any other remedies available to Landlord elect under Applicable Laws. Landlord shall have the option to terminate this Lease pursuant and all rights of Tenant hereunder by giving Tenant notice of termination. Such notice of termination may be made effective immediately and may be included in any notice hereinabove provided, pertaining to any default and in such case shall be conditioned upon the provisions abovefailure of Tenant to cure such default. If Landlord elects to so terminate this Lease, then Landlord may recover from Tenant, as damages, the following: :
(a) the worth At Landlord's option either:
(1) a sum which, at the time of award such termination of this Lease represents the then value of the excess, if any unpaid rental which discounted to present value with an interest rate of ten percent ( 10%) calculated as of the date of termination, of (x) the aggregate of the Base Rent and Additional Rent payable under this Lease through the Expiration Date, had been earned this Lease not so terminated (conclusively presuming the Additional Rent to be the same as was payable for the one (1) year period immediately preceding and ending on such termination, increased at the time average rate of increase for each category of Additional Rent subject to increase hereunder, experienced during the period not exceeding three (3) years prior to such termination), over (y) the aggregate fair market rental value of the termination; plus rental which had been earned at Demised Premises for the time of the termination; plus same period;
(b2) the worth at the time of award of the amount by which the unpaid rental which would have been earned after termination until the time of award exceeds the amount of rental loss the Base Rent and Additional Rent (as above presumed) payable pursuant to this Lease had it not so terminated, payable on the due dates therefor hereunder following such termination through the Expiration Date (as had this Lease not so terminated), provided, however, that if Landlord shall re-let the Demised Premises during said period, Landlord shall credit Tenant proves could have been reasonably avoided; plus with the net rents received by Landlord from such re-letting, (csuch net rents shall be determined by the deduction from the gross rents as and when received by Landlord from such re-letting) the worth at expenses incurred or paid by Landlord in terminating this Lease, re-entering the time Demised Premises, securing possession thereof, and of award re-letting, but excluding altering and preparing the Demised Premises therefor, broker's commissions, and all other reasonable expenses properly chargeable to Tenant's default and re-letting of the Demised Premises) and in this connection, the following shall apply: (i) in no event shall Tenant be entitled to receive any excess of such net rent over the sums payable by Tenant to Landlord hereunder unless Landlord terminates after Tenant requests Landlord consent to assignment or sublet hereunder; (ii) any such re-letting may, at Landlord's option be for a shorter period or longer than the remaining Lease Term; (iii) nothing herein contained shall be construed as requiring Landlord to re-let, and Landlord shall have no obligation to do so except as may be required by Applicable Laws; and (iv) the parties agree that the amount by which of rent reserved upon such re-letting shall, prima facie, constitute the unpaid rental fair market value for the Demised Premises, or part thereof re-let during the term of such re-letting; or
(3) at Landlord's option, any other measure of Landlord's damages permitted under Applicable Laws, including, without limitation, the acceleration of future Rents for the balance of the Lease Term after discounted to present value with an interest rate often percept (10%) calculated as of the date of termination, following Tenant's default in the payment of any monthly installment, provided, that if Landlord elect to accelerate as herein provided, Tenant shall be entitled to possession of the Demised Premises upon payment of the Rents reserved for the balance of the Lease Term and all other provisions of this Lease shall remain in effect; and
(b) The amount of any unpaid Base Rent and Additional Rent hereunder accrued at the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoidedsuch termination; plus and
(dc) Any other, including any other alternative, amount necessary or proper to compensate Landlord for all the detriment caused by Tenant’s failure to perform its obligation under this Lease or which ordinary course of things would be likely to result therefromdamages, including, but not limited to, any costs losses or expenses resulting from Tenant's default hereunder and permitted by Applicable Laws as well as any reasonable costs and expenses, and the reasonable amount of attorneys' fees incurred by Landlord resulting therefrom; and
(d) Interest on the amount of unpaid Rents in (i) retaking possession accordance with Section 1.07 of the Premises, including reasonable attorneys’ fees therefor, (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (iv) any leasing commission, or (v) any other costs necessary or appropriate to relet the Premisesthis Lease.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of California. As used in Subsection (a) and (b) above, the “worth at the time of award” is computed by allowing interest at the maximum lawful rate. As used in Subsections (c) above, the “worth at the time of award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport at the time of award plus one percent (1%).
Appears in 1 contract
Sources: Lease Agreement (Bion Environmental Technologies Inc)
Termination of Lease. Should Landlord elect to may terminate this Lease pursuant and Tenant’s right to possession of the provisions abovePremises. If Tenant has abandoned and vacated the Premises, the mere entry of the Premises by Landlord in order to perform acts of maintenance, cure defaults, preserve the Premises or to attempt to relet the Premises, or the appointment of a receiver in order to protect the Landlord’s interest under this Lease, shall not be deemed a termination of Tenant’s right to possession or a termination of this Lease unless Landlord has notified Tenant in writing that this Lease is terminated. Notification of any default described in Section 23 of this Lease shall be in lieu of, and not in addition to, any notice required under applicable Oregon law. If Landlord terminates this Lease and Tenant’s right to possession of the Premises, Landlord may recover from Tenant, as damages, the following: :
(ai) the worth at the time The amount of award of any unpaid rental rent which had been earned at the time of the termination; plus rental which had been earned at the time of the termination; plus plus
(bii) the worth at the time of award of the The amount by which the unpaid rental rent which would have been earned after termination until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus plus
(ciii) the worth at the time of award of the The amount by which the unpaid rental rent for the balance of the Term after the time of the award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided; plus plus
(div) any Any other amount amounts necessary to compensate the Landlord for all of the detriment proximately caused by Tenant’s failure to perform its obligation obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, includingincluding any legal expenses, brokers commissions or finders fees (in connection with reletting the Premises and the pro rata portion of any leasing commission paid by Landlord in connection with this Lease which is applicable to the portion of the Term, including option periods, which is unexpired as of the date on which this Lease terminated), the costs of repairs, cleanup, refurbishing, removal and storage or disposal of Tenant’s personal property, equipment, fixtures and anything else that Tenant is required under this Lease to remove but does not limited toremove (including those alterations which Tenant is required to remove pursuant to an election by Landlord and Landlord actually removes whether notice to remove shall be delivered to Tenant), and any costs or expenses for alterations, additions and renovations incurred by Landlord in (i) retaking regaining possession of and reletting (or attempting to relet) the Premises, including reasonable attorneys’ fees therefor, (ii) maintaining or preserving . Tenant shall also reimburse Landlord for the pro rata portion of TI Allowance paid by Landlord to install Tenant Improvements on the Premises after any default, (iii) preparing the Premises for reletting which is applicable to a new tenant, including repairs or alterations to the Premises, (iv) any leasing commission, or (v) any other costs necessary or appropriate to relet the Premises.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu that portion of the foregoing Term including any terminated option periods which is unexpired as may be permitted from time of the date on which this Lease terminated, discounted to time by the laws present value. All computations of California. As used in Subsection (a) and (b) above, the “worth at the time of the award” is of amounts recoverable by Landlord under (i) and (ii) hereof shall be computed by allowing interest at the maximum lawful ratecontract rate per annum. As used in Subsections (c) above, the The “worth at the time of the award” is computed recoverable by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport at the time of award plus one percent Landlord under (1%).iii) and the
Appears in 1 contract
Sources: Lease Agreement (Avi Biopharma Inc)
Termination of Lease. Should Landlord elect to Lessor may terminate this Lease and all rights of Lessee hereunder by giving Lessee written notice that this Lease is terminated, in which event the Term of this Lease shall terminate and all right, title and interest of Lessee hereunder shall expire on the date stated in such notice. Upon such termination, Lessor shall be entitled to recover from Lessee all the fixed dollar amounts of Total Rental accrued and unpaid for the period up to and including such date of termination, as well as all other additional sums payable by Lessee or for which Lessee is liable or in respect of which Lessee has agreed to indemnify Lessor under the provisions of this Lease. In addition, Lessor shall be entitled to recover as damages for the loss of the bargain and not as a penalty (i) the unamortized cost to Lessor, computed and determined in accordance with generally accepted accounting principles, of the Lessee improvements and alterations, if any, paid for and installed by Lessor pursuant to the provisions abovethis Lease, Landlord may recover from Tenant, as damages, the following: plus (aii) the worth aggregate sum which at the time of award such termination represents the excess, if any, of any unpaid rental which had been earned the present value of the aggregate Total Rental at the time same annual rate for the remainder of the termination; plus rental which had been earned at Term as then in effect pursuant to the time applicable provisions of this Lease, over the then present value of the termination; plus (b) the worth at the time of award then aggregate fair total rental value of the amount by which the unpaid rental which would have been earned after termination until the time of award exceeds the amount of rental loss Tenant proves could have been reasonably avoided; plus (c) the worth at the time of award of the amount by which the unpaid rental Leased Premises for the balance of the Term after Lease Term, such present worth to be computed in each case on the time basis of award exceeds a three percent (3%) per annum discount from the amount of rental loss that Tenant proves could be reasonably avoided; respective dates upon which such Total Rentals would have been payable hereunder had this Lease not been terminated, plus (diii) any other amount necessary to compensate Landlord for all the detriment caused by Tenant’s failure to perform its obligation under this Lease or which ordinary course of things would be likely to result therefrom, including, but not limited to, any costs or expenses incurred by Landlord damages in (i) retaking possession of the Premisesaddition thereto, including reasonable attorneys’ ' fees thereforand court costs, (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (iv) any leasing commission, or (v) any other costs necessary or appropriate to relet the Premises.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu which Lessor shall have sustained by reason of the foregoing as may be permitted from time to time by the laws breach of California. As used in Subsection (a) and (b) above, the “worth at the time of award” is computed by allowing interest at the maximum lawful rate. As used in Subsections (c) above, the “worth at the time of award” is computed by discounting such amount at the discount rate any of the Federal Reserve Bank situated nearest to covenants of this Lease other than for the location payment of the Mojave Airport at the time of award plus one percent (1%)Total Rental.
Appears in 1 contract
Sources: Lease Agreement (Newsmax Media Inc)
Termination of Lease. Should Landlord elect to can terminate this Lease pursuant and Tenant's right to possession of the provisions abovePremises by giving written notice of termination, and then re-enter the Premises and take possession thereof. No act by Landlord other than giving written notice to Tenant of such termination shall terminate this Lease. Upon termination, Landlord may has the right to recover from all damages incurred by Landlord as a result of Tenant's default, as damages, the following: including:
(a) the The worth at the time of award of any unpaid rental which rent that had been earned at the time of the such termination; plus rental which had been earned at the time of the termination; plus plus
(b) the The worth at the time of award of the amount by which the unpaid rental which rent that would have been earned after the date of termination until the time of award exceeds the amount of rental the loss of rent that Tenant proves could have been reasonably avoided; plus plus
(c) the The worth at the time of award of the amount by which the unpaid rental rent for the balance of the Lease Term after the time of award exceeds the amount of such rental loss that Tenant proves could be have been reasonably avoided; plus plus
(d) any Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligation under this Lease or which ordinary course of things would be likely to result therefrom's default, including, but not limited to, any costs or expenses incurred by Landlord in to (i) expenses for cleaning, repairing or restoring the Premises, (ii) expenses for altering, remodeling or otherwise improving the Premises for the purpose of reletting, (iii) brokers' fees and commissions, advertising costs and other expenses of reletting the Premises, (iv) costs of carrying the Premises, such as taxes, insurance premiums, utilities and security precautions, (v) expenses in retaking possession of the Premises, including reasonable (vi) attorneys’ ' fees thereforand costs, (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (ivvii) any leasing commissionunearned brokerage commissions paid in connection with this Lease, and (viii) reimbursement of any previously waived or (v) any other costs necessary or appropriate to relet the Premises.abated Minimum Monthly Rent and/or Additional Rent; plus plus
(e) at At Landlord’s 's election, any such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of Californiaunder applicable law. As used in Subsection paragraphs (a) and (b) above, the “"worth at the time of award” is " shall be computed by allowing interest at the maximum lawful permissible legal rate. As used in Subsections paragraph (c) above, the “"worth at the time of award” is " shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport San Francisco at the time of award plus one percent (1%).
Appears in 1 contract
Sources: Standard Industrial Net Lease (Avanir Pharmaceuticals)
Termination of Lease. Should Landlord elect to may terminate this Lease pursuant and Tenant's right to possession of the provisions abovePremises. If Tenant has abandoned and vacated the Premises, the mere entry of the Premises by Landlord in order to perform acts of maintenance, cure defaults, preserve the Premises or to attempt to relet the Premises, or the appointment of a receiver in order to protect the Landlord's interest under this Lease, shall not be deemed a termination of Tenant's right to possession or a termination of this Lease unless Landlord has notified Tenant in writing that this Lease is terminated. Notification of any default described in Paragraph 23 of this Lease shall be in lieu of, and not in addition to, any notice required under Section 1161 et seq. of the California Code of Civil Procedure. If Landlord terminates this Lease and Tenant's right to possession of the Premises, Landlord may recover from Tenant, as damages, the following: (a) the :
i. The worth at the time of the award of any unpaid rental rent which had been earned at the time of the termination; plus rental which had been earned plus
ii. The worth at the time of the termination; plus (b) the worth at the time of award of the amount by which the unpaid rental rent which would have been earned after termination until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus (c) the plus
iii. The worth at the time of the award of the amount by which the unpaid rental rent for the balance of the Lease Term after the time of the award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided; plus (d) any plus
iv. Any other amount amounts necessary to compensate the Landlord for all of the detriment proximately caused by Tenant’s 's failure to perform its obligation obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, includingincluding any legal expenses, brokers commissions or finders fees (in connection with reletting the Premises and the pro rata portion of any leasing commission paid by Landlord in connection with this Lease which is applicable to the portion of the Lease Term, including option periods, which is unexpired as of the date on which this Lease terminated), the costs of repairs, cleanup, refurbishing, removal and storage or disposal of Tenant's personal property, equipment, fixtures and anything else that Tenant is required under this Lease to remove but does not limited toremove (including those alterations which Tenant is required to remove pursuant to an election by Landlord and Landlord actually removes whether notice to remove shall be delivered to Tenant), and any costs or expenses for alterations, additions and renovations incurred by Landlord in (i) retaking regaining possession of and reletting (or attempting to relet) the Premises, including reasonable attorneys’ fees therefor, (ii) maintaining or preserving . Tenant shall also reimburse Landlord for the pro rata portion of leasehold improvement costs paid by Landlord to install leasehold improvements on the Premises after any default, (iii) preparing the Premises for reletting which is applicable to a new tenant, including repairs or alterations to the Premises, (iv) any leasing commission, or (v) any other costs necessary or appropriate to relet the Premises.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu that portion of the foregoing Lease Term including any terminated option periods which is unexpired as may be permitted from time to time by the laws of California. As used in Subsection (a) and (b) above, the “worth at the time of award” is computed by allowing interest at the maximum lawful rate. As used in Subsections (c) above, the “worth at the time of award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest date on which this Lease terminated, discounted to the location of the Mojave Airport at the time of award plus one percent (1%)present value.
Appears in 1 contract
Sources: Lease Agreement (Bloom Energy Corp)
Termination of Lease. Should Landlord elect to Lessor may terminate this Lease pursuant or Lessee’s right to possession of the provisions abovePremises by notice to Lessee or any other lawful means, Landlord may in which case this Lease shall terminate and Lessee shall immediately surrender possession of the Premises to Lessor. In such event Lessor shall be entitled to recover from Tenant, as damages, the following: Lessee:
(ai) the The worth at the time of award of any the unpaid rental Rentals which had been earned at the time of the termination; plus rental which had been earned at the time of the termination; plus ;
(bii) the The worth at the time of award of the amount by which the unpaid rental Rentals which would have been earned after termination until the time of award exceeds the amount of such rental loss Tenant that Lessee proves could have been reasonably avoided; plus ;
(ciii) the The worth at the time of award (computed by discounting at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent) of the amount by which the unpaid rental Rentals for the balance of the Term after the time of award exceeds the amount of such rental loss that Tenant Lessee proves could be reasonably avoided; plus and
(div) any Any other amount amounts necessary to compensate Landlord Lessor for all the detriment proximately caused by Tenant’s failure to perform its obligation under this Lease the default by Lessee or which in the ordinary course of things events would be likely to result therefromresult, including, but not limited to, any including without limitation the reasonable costs or and expenses incurred by Landlord in Lessor for:
(iA) retaking Retaking possession of the Premises;
(B) Cleaning and making repairs and alterations (including installation of leasehold improvements, including reasonable attorneys’ fees thereforwhether or not the same shall be funded by a reduction of rent, (iidirect payment or otherwise) maintaining or preserving necessary to return the Premises after any default, (iii) to good condition and preparing the Premises for reletting reletting;
(C) Removing, transporting, and storing any of Lessee’s property left at the Premises (although Lessor shall have no obligation to a new tenantremove, including repairs transport, or alterations to store any of the property);
(D) Retelling the Premises, including without limitation, brokerage commissions, advertising costs, and attorneys’ fees;
(ivE) any leasing commissionAttorneys’ fees, or expert witless fees and court costs;
(vF) any other costs necessary or appropriate to relet Any unamortized real estate brokerage commissions paid in connection with this Lease; and
(G) Costs of carrying the Premises.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu of the foregoing such as may be permitted from time to time by the laws of Californiarepairs, maintenance, taxes and insurance premiums, utilities and security precautions, if any. As used in Subsection (a) and (b) above, the The “worth at the time of award” of the amounts referred to in Articles 23.a.(i) and 23.a.(ii) is computed by allowing interest at an amoral rate equal to the maximum lawful rate. As used in Subsections greater of: ten percent (c10%); or five percent (5%) aboveplus the rate established by the Federal Reserve Bank of San Francisco, as of the “worth at 25th day of the time of award” is computed month immediately preceding the default by discounting such amount at the discount rate Lessee, on advances to member banks under Section 13 and 13(a) of the Federal Reserve Bank situated nearest Act, as now in effect or hereafter from time to time amended (the “Stipulated Rate”). The computation of the amount of rental loss that could be or could have been reasonably avoided by Lessor pursuant to California Civil Code section 1951.2 shall take into account the use restrictions set forth in Article 8.a. above except to the location extent that Lessee proves that under all circumstances the enforcement of the Mojave Airport at the time of award plus one percent (1%)use restriction would be unreasonable.
Appears in 1 contract
Sources: Net Office Lease (Splunk Inc)
Termination of Lease. Should Terminate this Lease by giving Tenant written notice thereof, in which event ▇▇▇▇▇▇ shall immediately surrender the Premises to Landlord. In the event that Landlord shall elect to so terminate this Lease pursuant to the provisions aboveLease, then Landlord may recover from Tenant, as damages, the following: :
(a) the The worth at the time of award of any unpaid rental Rent which had been earned at the time of the such termination; plus rental which had been earned at the time of the termination; plus plus
(b) the The worth at the time of award of the amount by which the unpaid rental Rent which would have been earned after such termination until the time of award exceeds the amount of rental such Rent loss that Tenant proves could have been reasonably avoided; plus plus
(c) the The worth at the time of award of the amount by which the unpaid rental Rent for the balance of the Term after the time of award exceeds the amount of rental such Rent loss that Tenant proves could be reasonably avoided; plus plus
(d) any Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant▇▇▇▇▇▇’s failure to perform its obligation obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, but not limited towithout limitation, any costs or expenses incurred by Landlord in (i) retaking the cost of recovering possession of the Premises, expenses of reletting (including necessary repair, renovation and alteration of the Premises), reasonable attorneys’ fees thereforfees, (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (iv) any leasing commission, or (v) and any other costs necessary or appropriate to relet the Premises.reasonable costs; plus plus
(e) at At Landlord’s election, any such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of CaliforniaLaw. As used in Subsection AS USED IN CLAUSES (aA) and AND (bB) aboveABOVE, the THE “worth at the time of awardWORTH AT THE TIME OF AWARD” is computed by allowing interest at the maximum lawful rateIS COMPUTED BY ALLOWING INTEREST AT THE DEFAULT RATE. As used in Subsections AS USED IN CLAUSE (cC) aboveABOVE, the THE “worth at the time of awardWORTH AT THE TIME OF AWARD” is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport at the time of award plus one percent IS COMPUTED BY DISCOUNTING SUCH AMOUNT AT THE DISCOUNT RATE OF THE FEDERAL RESERVE BANK OF SAN FRANCISCO AT THE TIME OF AWARD PLUS ONE PERCENT (1%). Failure by Landlord to enforce one or more of the remedies herein provided upon an Event of Default shall not be deemed or construed to constitute a waiver of such Event of Default. Tenant hereby waives for Tenant and for all those claiming under Tenant all rights now or hereafter existing to redeem by order or judgment of any court or by any legal process or writ, ▇▇▇▇▇▇’s right of occupancy of the Premises after any termination of this Lease.
Appears in 1 contract
Sources: Lease Agreement
Termination of Lease. Should In the event of the termination of this lease by -------------------- Landlord elect as provided for by subparagraph (i) of Section 19(b), Landlord shall be entitled to terminate this Lease pursuant recover from Tenant all the fixed dollar amounts of Rent accrued and unpaid for the period up to and including such termination date, as well as all other additional sums payable by Tenant, or for which Tenant is liable or in respect of which Tenant has agreed to indemnify Landlord under any of the provisions aboveof this lease, Landlord which may recover from Tenantbe then owing and unpaid, as damagesand all costs and expenses, the following: (a) the worth at the time of award of any unpaid rental which had been earned at the time of the termination; plus rental which had been earned at the time of the termination; plus (b) the worth at the time of award of the amount by which the unpaid rental which would have been earned after termination until the time of award exceeds the amount of rental loss Tenant proves could have been reasonably avoided; plus (c) the worth at the time of award of the amount by which the unpaid rental for the balance of the Term after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided; plus (d) any other amount necessary to compensate Landlord for all the detriment caused by Tenant’s failure to perform its obligation under this Lease or which ordinary course of things would be likely to result therefrom, including, but not limited to, any including without limitation court costs or and reasonable attorneys' fees and expenses incurred by Landlord in the enforcement of its rights and remedies hereunder, and in addition. Landlord shall be entitled to recover an amount equal to the present value (icalculated using a discount rate equal to six percent (6%) retaking possession per annum) of the Premisesaggregate Base Rent payable for the period from the termination date stated in Landlord's notice terminating this lease until the date which would have been the Expiration Date but for such termination, including reasonable attorneys’ fees therefor, less the present value (iicalculated using a discount rate equal to six percent (6%) maintaining or preserving per annum) of the Premises after any default, (iii) preparing fair rental value of the Premises for the same period (which fair rental value shall be calculated so as to include a reasonable vacancy period for reletting the Premises and deductions for reasonable expenses and inducements incurred by Landlord to a new tenantachieve such reletting, including repairs or alterations to without limitation attorneys' fees and expenses, brokerage fees, advertising costs, rent abatements, tenant improvement allowances and the Premises, (iv) any leasing commission, or (v) any other costs necessary or appropriate to relet the Premises.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of California. As used in Subsection (a) and (b) above, the “worth at the time of award” is computed by allowing interest at the maximum lawful rate. As used in Subsections (c) above, the “worth at the time of award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport at the time of award plus one percent (1%like).
Appears in 1 contract
Termination of Lease. Should Upon the occurrence of a default hereunder, Landlord elect to may terminate this Lease pursuant to and Tenant’s right of possession of the provisions abovePremises (whereupon all obligations and liabilities of Landlord hereunder shall terminate) and, without further notice and without liability, repossess the Premises. Upon any such termination, Landlord may recover from Tenant, as damages, the following: shall be entitled to recover:
(a) the The worth at the time of award of any unpaid rental Rent which had been earned at the time of the such termination; plus rental which had been earned at the time of the termination; plus plus
(b) the The worth at the time of award of the amount by which the unpaid rental Rent which would have been earned after termination until the time of award exceeds the amount of rental such Rent loss that Tenant proves could have been reasonably avoided; plus plus
(c) the The worth at the time of award of the amount by which the unpaid rental Rent for the balance of the Term after the time of award exceeds the amount of rental such Rent loss that Tenant proves could be reasonably avoided; plus plus
(d) any Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligation obligations under this Lease or which which, in the ordinary course of things would be likely to result therefromthings, results therefrom including, but not limited to: attorneys’ fees and costs; brokers’ commissions; the costs of refurbishment, any costs or expenses incurred by Landlord in (i) retaking possession alterations, renovation and repair of the Premises, and removal (including reasonable attorneys’ fees thereforthe repair of any damage caused by such removal) and storage (or disposal) of Tenant’s personal property, (ii) maintaining or preserving the Premises after any defaultequipment, (iii) preparing the Premises for reletting to a new tenantfixtures, including repairs or alterations to the Premises, (iv) any leasing commission, or (v) and any other items which Tenant is required under this Lease to remove but does not remove, as well as the unamortized value of any free rent, reduced rent, free parking, reduced rate parking and any tenant improvement allowance or other costs necessary or appropriate economic concessions provided, paid, granted or incurred by Landlord pursuant to relet this Lease. The unamortized value of such concessions shall be determined by taking the Premises.; plus (e) at Landlord’s electiontotal value of such concessions and multiplying such value by a fraction, any other amounts in addition to or in lieu the numerator of which is the number of months of the foregoing Lease Term not yet elapsed as may be permitted from time to time by of the laws date on which this Lease is terminated, and the denominator of Californiawhich is the total number of months of the Lease Term. As used in Subsection (aSubsections 14.2.1(a) and (b) above, the “worth at of the time of award” is computed by allowing interest at the maximum lawful raterate prescribed in Section 16.9 hereof. As used in Subsections (cSubsection 14.2.1(c) above, the “worth at the time of the award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport San Francisco at the time of award plus one percent (1%).
Appears in 1 contract
Termination of Lease. Should Upon the occurrence of any Event of Default, Landlord elect to may terminate this Lease pursuant and Tenant's right to possession of the provisions abovePremises. If Tenant has abandoned and vacated the Premises, the mere entry of the Premises by Landlord in order to perform acts of maintenance, cure defaults, preserve the Premises or to attempt to relet the Premises, or the appointment of a receiver in order to protect the Landlord's interest under this Lease, shall not be deemed a termination of Tenant's right to possession or a termination of this Lease unless Landlord has notified Tenant in writing that this Lease is terminated. Notification of any default described in Paragraph 23 of this Lease shall be in lieu of, and not in addition to, any notice required under applicable Arizona law. If Landlord terminates this Lease and Tenant's right to possession of the Premises, Landlord may recover from Tenant, as damages, the following: .
(a1) the The worth at the time of the award of any unpaid rental rent which had been earned at the time of the termination; plus rental which had been earned plus
(2) The worth at the time of the termination; plus (b) the worth at the time of award of the amount by which the unpaid rental rent which would have been earned after termination until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus plus
(c3) the The worth at the time of the award of the amount by which the unpaid rental rent for the balance of the Lease Term after the time of the award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided; plus plus
(d4) any Any other amount amounts necessary to compensate the Landlord for all of the detriment proximately caused by Tenant’s 's failure to perform its obligation obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, includingincluding any legal expenses, brokers commissions or finders fees (in connection with reletting the Premises and the pro rata portion of any leasing commission paid by Landlord in connection with this Lease which is applicable to the portion of the Lease Term, including option periods, which is unexpired as of the date on which this Lease terminated), the costs of repairs, cleanup, refurbishing (to the extent provided herein below), removal and storage or disposal of Tenant's personal property, equipment, fixtures and anything else that Tenant is required under this Lease to remove but does 680272v7 not limited toremove (including those alterations which Tenant is required to remove pursuant to an election by Landlord and Landlord actually removes whether notice to remove shall be delivered to Tenant), and any costs or expenses for alterations, additions and renovations incurred by Landlord in (i) retaking regaining possession of the Premises, including reasonable attorneys’ fees therefor, Premises and reletting (iior attempting to relet) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (iv) any leasing commission, or (v) any other costs necessary or appropriate and restoring the Premises to relet the Premises.; plus (e) at Landlord’s election, any other amounts in addition condition Tenant is required to or in lieu surrender possession thereof pursuant to Paragraph 21 hereof. All computations of the foregoing as may be permitted from time to time by the laws of California. As used in Subsection (a) and (b) above, the “"worth at the time of the award” is " of amounts recoverable by Landlord under (1) and (2) hereof shall be computed by allowing interest at the maximum lawful ratecontract rate per annum. As used in Subsections (c) above, the “The "worth at the time of the award” is " recoverable by Landlord under (3) and the discount rate for purposes of determining any amounts recoverable under (4), if applicable, shall be computed by discounting such the amount recoverable by Landlord at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport Bank, San Francisco, California, at the time of the award plus one percent (1%). Upon termination of this Lease, whether by lapse of time or otherwise, Tenant shall immediately vacate the Premises and deliver possession to Landlord, and Landlord shall have the right to re-enter the Premises. If required by Legal Requirements, Landlord shall use commercially reasonable efforts to mitigate its damages following a termination of this Lease resulting from an Event of Default by Tenant.
Appears in 1 contract
Termination of Lease. Should Landlord elect to may terminate this Lease pursuant and Tenant's right to possession of the provisions abovePremises. If Tenant has abandoned and vacated the Premises, the mere entry of the Premises by Landlord in order to perform acts of maintenance, cure defaults, preserve the Premises or to attempt to relet the Premises, or the appointment of a receiver in order to protect Landlord's interest under this Lease, shall not be deemed a termination of Tenant's right to possession or a termination of this Lease unless Landlord has notified Tenant in writing that this Lease is terminated. Notification of any default described in Paragraph 23 of this Lease shall be in lieu of, and not in addition to, any notice required under Section 1161 et seq. of the California Code of Civil Procedure. If Landlord terminates this Lease and Tenant's right to possession of the Premises, Landlord may recover from Tenant, as damages, the following: :
(a1) the The worth at the time of the award of any unpaid rental rent which had been earned at the time of the termination; plus rental which had been earned plus
(2) The worth at the time of the termination; plus (b) the worth at the time of award of the amount by which the unpaid rental rent which would have been earned after termination until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus plus
(c3) the The worth at the time of the award of the amount by which the unpaid rental rent for the balance of the Lease Term after the time of the award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided; plus plus
(d4) any Any other amount amounts necessary to compensate the Landlord for all of the detriment proximately caused by Tenant’s 's failure to perform its obligation obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, includingincluding any legal expenses, brokers commissions or finders fees to the extent allocable to the remaining Lease Term, the costs of repairs, cleanup, refurbishing, removal and storage or disposal of Tenant's personal property, equipment, fixtures and anything else that Tenant is required under this Lease to remove but does not limited toremove (including those alterations which Tenant is required to remove pursuant to an election by Landlord and Landlord actually removes whether notice to remove shall be delivered to Tenant), and any costs or expenses for alterations, additions and renovations incurred by Landlord in (i) retaking regaining possession of the Premises, including reasonable attorneys’ fees therefor, and reletting (iior attempting to relet) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations in each case to the Premises, (iv) any leasing commission, or (v) any other costs necessary or appropriate extent allocable to relet the Premises.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu remaining Lease Term. All computations of the foregoing as may be permitted from time to time by the laws of California. As used in Subsection (a) and (b) above, the “"worth at the time of the award” is " of amounts recoverable by Landlord under (1) and (2) hereof shall be computed by allowing interest at the maximum lawful ratelesser of the highest rate permitted by applicable law or ten percent (10%) per annum (the "Interest Rate"). As used in Subsections (c) above, the “The "worth at the time of the award” is " recoverable by Landlord under (3) and the discount rate for purposes of determining any amounts recoverable under (4), if applicable, shall be computed by discounting such the amount recoverable by Landlord at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport Bank, San Francisco, California, at the time of the award plus one percent (1%). Upon termination of this Lease, whether by lapse of time or otherwise, Tenant shall immediately vacate the Premises and deliver possession to Landlord, and Landlord shall have the right to re-enter the Premises.
Appears in 1 contract
Termination of Lease. Should Landlord elect to terminate Terminate this Lease pursuant by giving Tenant written notice thereof, in which event Tenant shall immediately surrender the Premises to the provisions above, Landlord and Landlord may recover from Tenant, as damages, the following: (ai) the worth at the time of award of any unpaid rental Rent which had been earned at the time of the termination; plus rental which had been earned at the time of the such termination; plus (bii) the worth at the time of award of the amount by which the unpaid rental Rent which would have been earned after termination until the time of award exceeds the amount of rental such Rent loss Tenant proves reasonably could have been reasonably avoided; plus (ciii) the worth at the time of award of the amount by which the unpaid rental Rent for the balance of the Term after the time of award exceeds the amount of rental such Rent loss that Tenant proves reasonably could be reasonably avoided; plus (div) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant▇▇▇▇▇▇’s failure to perform its obligation obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, but not limited to, any costs or expenses incurred by Landlord in (i) retaking possession of the Premises, including reasonable attorneys’ fees therefor, (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (iv) any leasing commission, or (v) any other costs necessary or appropriate to relet the Premises.; plus (ev) at Landlord’s election, any such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of Californiaapplicable California law. As used in Subsection clauses (ai) and (bii) above, the “worth at the time of award” is computed by allowing interest at the maximum lawful rateDefault Rate. As used in Subsections clause (ciii) above, the “worth at the time of award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport San Francisco at the time of award plus one percent (1%). Forbearance by Landlord to enforce one or more of the remedies herein provided upon an Event of Default shall not be deemed or construed to constitute a waiver of such default. Tenant hereby waives for Tenant and for all those claiming under Tenant all rights now or hereafter existing to redeem by order or judgment of any court or by any legal process or writ, ▇▇▇▇▇▇’s right of occupancy of the Premises after any termination of this Lease. If Landlord elects to proceed under this Section 18(a), Landlord may remove all of Tenant’s property from the Premises (which shall be deemed abandoned by Tenant) and store the same in a public warehouse or elsewhere at the cost of, and for the account of, Tenant, without becoming liable for any loss or damage which may be occasioned thereby. If and to the extent required by applicable Law, Landlord shall use commercially reasonable efforts to relet the Premises on such terms as Landlord in its sole discretion may determine (including a term different from the Term, rental concessions, and alterations to, and improvement of, the Premises); however, Landlord shall not be obligated to expend funds in connection with reletting the Premises, nor to relet the Premises before leasing other portions of the Building, and Landlord shall not be obligated to accept any prospective tenant proposed by ▇▇▇▇▇▇ unless such proposed tenant meets all of Landlord’s leasing criteria. Tenant shall not be entitled to the excess of any consideration obtained by reletting over the Rent due hereunder.
Appears in 1 contract
Sources: Lease Termination Agreement (Spruce Biosciences, Inc.)
Termination of Lease. Should Landlord elect to may terminate this Lease pursuant and ▇▇▇▇▇▇’s right to possession of the provisions abovePremises. If Tenant has abandoned and vacated the Premises, the mere entry of the Premises by Landlord in order to perform acts of maintenance, cure defaults, preserve the Premises or to attempt to relet the Premises, or the appointment of a receiver in order to protect the Landlord’s interest under this Lease, shall not be deemed a termination of Tenant’s right to possession or a termination of this Lease unless Landlord has notified Tenant in writing that this Lease is terminated. Notification of any default described in Paragraph 23 of this Lease shall be in lieu of, and not in addition to, any notice required under Section 1161 et seq. of the California Code of Civil Procedure. If Landlord terminates this Lease and ▇▇▇▇▇▇’s right to possession of the Premises, Landlord may recover from Tenant, as damages, the following: :
(a1) the The worth at the time of the award of any unpaid rental rent which had been earned at the time of the termination; plus rental which had been earned plus
(2) The worth at the time of the termination; plus (b) the worth at the time of award of the amount by which the unpaid rental rent which would have been earned after termination until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus plus
(c3) the The worth at the time of the award of the amount by which the unpaid rental rent for the balance of the Lease Term after the time of the award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided; plus plus
(d4) any Any other amount amounts necessary to compensate the Landlord for all of the detriment proximately caused by Tenant’s failure to perform its obligation obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, includingincluding any legal expenses, brokers’ commissions or finders fees (in connection with reletting the Premises and the pro rata portion of any leasing commission paid by Landlord in connection with this Lease which is applicable to the portion of the Lease Term, including option periods, which is unexpired as of the date on which this Lease terminated), the costs of repairs, cleanup, refurbishing, removal and storage or disposal of Tenant’s personal property, equipment, fixtures and anything else that Tenant is required under this Lease to remove but does not limited toremove (including those alterations which Tenant is required to remove pursuant to an election by Landlord and Landlord actually removes whether notice to remove shall be delivered to Tenant), and any costs or expenses for alterations, additions and renovations incurred by Landlord in (i) retaking regaining possession of and reletting (or attempting to relet) the Premises, including reasonable attorneys’ fees therefor, (ii) maintaining or preserving . Tenant shall also reimburse Landlord for the pro rata portion of leasehold improvement costs paid by Landlord to install leasehold improvements on the Premises after any default, (iii) preparing the Premises for reletting which is applicable to a new tenant, including repairs or alterations to the Premises, (iv) any leasing commission, or (v) any other costs necessary or appropriate to relet the Premises.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu that portion of the foregoing Lease Term including any terminated option periods which is unexpired as may be permitted from time of the date on which this Lease terminated, discounted to time by the laws present value. All computations of California. As used in Subsection (a) and (b) above, the “worth at the time of the award” is of amounts recoverable by Landlord under (1) and (2) hereof shall be computed by allowing interest at the maximum lawful ratecontract rate per annum. As used in Subsections (c) above, the The “worth at the time of the award” is recoverable by Landlord under (3) and the discount rate for purposes of determining any amounts recoverable under (4), if applicable, shall be computed by discounting such the amount recoverable by Landlord at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport Bank, San Francisco, California, at the time of the award plus one percent (1%). Upon termination of this Lease, whether by lapse of time or otherwise, ▇▇▇▇▇▇ shall immediately vacate the Premises and deliver possession to Landlord, and Landlord shall have the right to re-enter the Premises.
Appears in 1 contract
Termination of Lease. Should Landlord elect to may terminate this Lease pursuant and Tenant's right to possession of the provisions abovePremises. If Tenant has abandoned and vacated the Premises, the mere entry of the Premises by Landlord in order to perform acts of maintenance, cure defaults, preserve the Premises or to attempt to relet the Premises, or the appointment of a receiver in order to protect the Landlord's interest under this Lease, shall not be deemed a termination of Tenant's right to possession or a termination of this Lease unless Landlord has notified Tenant in writing that this Lease is terminated. If Landlord terminates this Lease and Tenant's right to possession of the Premises, Landlord may recover from Tenant, as damages, the following: :
(a1) the The worth at the time of the award of any unpaid rental rent which had been earned at the time of the termination; plus rental which had been earned plus
(2) The worth at the time of the termination; plus (b) the worth at the time of award of the amount by which the unpaid rental rent which would have been earned after termination until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus plus
(c3) the The worth at the time of the award of the amount by which the unpaid rental rent for the balance of the Term after the time of the award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided; plus plus
(d4) any Any other amount amounts necessary to compensate the Landlord for all of the detriment proximately caused by Tenant’s 's failure to perform its obligation obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, includingincluding any legal expenses, brokers commissions or finders fees (in connection with reletting the Premises and the pro rata portion of any leasing commission paid by Landlord in connection with this Lease which is applicable to the portion of the Term, including option periods, which is unexpired as of the date on which this Lease terminated), the costs of repairs, cleanup, refurbishing, removal and storage or disposal of Tenant's personal property, equipment, fixtures and anything else that Tenant is required under this Lease to remove but does not limited toremove (including those alterations which Tenant is required to remove pursuant to an election by Landlord and Landlord actually removes whether notice to remove shall be delivered to Tenant), and any costs or expenses for alterations, additions and renovations incurred by Landlord in (i) retaking regaining possession of and reletting (or attempting to relet) the Premises, including reasonable attorneys’ fees therefor, (ii) maintaining or preserving . Tenant shall also reimburse Landlord for the pro rata portion of leasehold improvement costs paid by Landlord to install leasehold improvements on the Premises after any default, (iii) preparing the Premises for reletting which is applicable to a new tenant, including repairs or alterations to the Premises, (iv) any leasing commission, or (v) any other costs necessary or appropriate to relet the Premises.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu that portion of the foregoing Term including any terminated option periods which is unexpired as may be permitted from time of the date on which this Lease terminated, discounted to time by present value. All computations of the laws of California. As used in Subsection (a) and (b) above, the “"worth at the time of the award” is " of amounts recoverable by Landlord under (1) and (2) hereof shall be computed by allowing interest at the maximum lawful ratecontract rate per annum. As used in Subsections (c) above, the “The "worth at the time of the award” is " recoverable by Landlord under (3) and the discount rate for purposes of determining any amounts recoverable under (4), if applicable, shall be computed by discounting such the amount recoverable by Landlord at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport Bank, San Francisco, California, at the time of the award plus one percent (1%). Upon termination of this Lease, whether by lapse of time or otherwise, Tenant shall immediately vacate the Premises and deliver possession to Landlord, and Landlord shall have the right to re-enter the Premises.
Appears in 1 contract
Termination of Lease. Should In the event Landlord elect elects to terminate this Lease, upon notice to Tenant this Lease will end as to Tenant and all persons holding under Tenant, and all of Tenant’s rights will be forfeited and lapsed, as fully as if this Lease had expired by lapse of time, and there will be recoverable from Tenant: (i) the cost of restoring the Premises to good condition, normal wear and tear excepted, (ii) all accrued, unpaid sums, plus Interest and late charges, if in arrears, under the terms of this Lease up to the date of termination, (iii) Landlord’s cost of recovering possession of the Premises, and (iv) rent and other sums accruing subsequent to the date of termination pursuant to the holdover provisions aboveof Section 2.3. In addition to the foregoing amounts, Tenant will immediately pay Landlord may recover from Tenant, as damages, the following: (a) the worth at the time of award of any unpaid rental which had been earned at the time of the termination; plus rental which had been earned at the time of the termination; plus (b) the worth at the time of award of an amount equal to the amount by which the unpaid rental which would have been earned after termination until the time of award exceeds the amount of rental loss Tenant proves could have been reasonably avoided; plus (ci) the worth present value at such time (determined using the time of award discount rate on such date of the amount by which Federal Reserve Branch Bank headquartered in Dallas, Texas) of the unpaid total Base Annual Rent for the remainder of the Term exceeds (ii) the then fair market rental value (determined using the discount rate on such date of the Federal Reserve Branch Bank headquartered in Dallas, Texas) of the Premises for the balance of the Term after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided; plus (d) any other amount necessary to compensate Landlord for all the detriment Term. If such termination is caused by Tenant’s the failure to perform its obligation pay Base Annual Rent or additional rent under this Lease or which ordinary course and/or abandonment of things would be likely to result therefrom, including, but not limited to, any costs or expenses incurred by Landlord in (i) retaking possession a substantial portion of the Premises, including reasonable attorneys’ fees thereforLandlord may elect, by notice to Tenant, to receive liquidated damages in an amount equal to the product of (i) the monthly installment of Base Annual Rent for the month prior to the month in which the Lease is terminated times (ii) maintaining or preserving 12. The Landlord will at once have all the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to rights of re-entry upon the Premises, (iv) any leasing commissionwithout becoming liable for damages, or (v) any other costs necessary or appropriate to relet the Premisesguilty of a trespass.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of California. As used in Subsection (a) and (b) above, the “worth at the time of award” is computed by allowing interest at the maximum lawful rate. As used in Subsections (c) above, the “worth at the time of award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport at the time of award plus one percent (1%).
Appears in 1 contract
Termination of Lease. Should Landlord elect to terminate Upon this Lease pursuant to the provisions above, Landlord may recover from Tenant, as damages, the following: being terminated other than by effluxion of time:
(a) the worth at the time of award of any unpaid rental which had been earned at the time all rights and interests created or then existing in favor of the termination; plus rental which had been earned at Tenant shall immediately terminate and the time of Landlord may re-enter the termination; plus Leased Premises and repossess and enjoy the same as its former estate, anything to the contrary notwithstanding,
(b) notwithstanding any such termination of this Lease, the worth at provisions of this Lease relating to the time consequences of award of the amount by which the unpaid rental which would have been earned after termination until the time of award exceeds the amount of rental loss Tenant proves could have been reasonably avoided; plus shall survive,
(c) the worth at the time of award of the amount by which the unpaid rental Landlord may use such force as it may deem necessary for the balance purpose of the Term after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided; plus (d) any other amount necessary gaining admittance to compensate Landlord for all the detriment caused by Tenant’s failure to perform its obligation under this Lease or which ordinary course of things would be likely to result therefrom, including, but not limited to, any costs or expenses incurred by Landlord in (i) and retaking possession of the PremisesLeased Premises and the Tenant hereby releases the Landlord from all actions, proceedings, claims and demands whatsoever for or in respect of any such forcible entry or any resulting loss or damage, and
(d) the Tenant shall pay to the Landlord on demand:
(i) Minimum Rent and Additional Rent and all other amounts payable up to the time of re-entry or to termination, whichever shall be the later,
(ii) such reasonable expenses as the Landlord may incur or has incurred in connection with the re-entering, terminating, re-letting, collecting sums due or payable by the Tenant, realizing upon assets seized, including without limitation brokerage, legal fees and disbursements on a full indemnity basis, and the expenses of keeping the Leased Premises in good order, repairing the same and preparing them for re-letting,
(iii) as liquidated damages for the loss of rental and other income of the Landlord expected to be derived from the Lease during the period which would have constituted the unexpired portion of the Term had it not been terminated an amount determined by reducing to present worth at an assumed interest rate of ten percent (10%) per annum, all Minimum Rent and Additional Rent to become payable during the period which would have constituted the unexpired portion of the Term, such determination to be made by the Landlord who may make reasonable attorneys’ fees thereforestimates of any such other amounts which would have become due under this Lease, and may make such other assumptions of fact as may be reasonable in the circumstances, less any Minimum Rent and Additional Rent received by the Landlord from the Leased Premises and
(iv) GST on amounts calculated in accordance with paragraphs 14.02(d)(i), (ii) maintaining or preserving the Premises after any default, and (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (iv) any leasing commission, or (v) any other costs necessary or appropriate to relet the Premiseshereof.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of California. As used in Subsection (a) and (b) above, the “worth at the time of award” is computed by allowing interest at the maximum lawful rate. As used in Subsections (c) above, the “worth at the time of award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport at the time of award plus one percent (1%).
Appears in 1 contract
Sources: Lease Agreement (Entree Gold Inc)
Termination of Lease. Should Landlord elect to Landlord, at its election, may terminate this Lease pursuant and be entitled to the provisions above, remedies described below. Landlord may recover from shall effect the termination of this Lease by delivery of written notice to Tenant, which notice shall be delivered to Tenant in the manner described in Section 14.4, below. Termination of this Lease shall be effective as damages, of the following: later of (a) the worth date set forth in Landlord's notice which date shall not be earlier than ninety (90) days after the date of the notice or, (b) such longer period (not to exceed one hundred eighty (180) days) after delivery of Landlord's termination notice to Tenant as may be necessary for Tenant to complete its surrender of the Property and the Leasehold Improvements, if Tenant pays to Landlord the Monthly Rent for each month of the extended surrender period and during such period pays any and all other rent, charges and amounts, and complies with all other covenants and obligations of Tenant under this Lease (but during such surrender period Tenant shall not be liable for holdover rent pursuant to Section 14.3 below) as provided in Section 2.5 above. Upon termination of this Lease by Landlord under and in accordance with the provisions of this Section 10.2.1, Landlord shall be entitled to recover from Tenant the following:
A. The worth, at the time of award the award, of any the unpaid rental which rent that had been earned at the time of the termination; plus rental which had been earned termination of this Lease;
B. The worth, at the time of the termination; plus (b) the worth at the time of award award, of the amount by which the unpaid rental rent which would have been earned after the date of termination of this Lease until the time of award exceeds the amount of rental the loss of rent that Tenant proves could have been reasonably avoided; plus . In no event, however, shall the amount described in this subparagraph (cB) the worth include any damages which are not recognized under California landlord/tenant law as recoverable damages on account of Tenant's default.
C. The worth, at the time of award the award, of the amount by which the unpaid rental rent for the balance of the Term term of this Lease after the time of award exceeds the amount of rental the loss of rent that Tenant proves could be have been reasonably avoided; plus (d) any and
D. Any other amount amount, including court costs, necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligation under this Lease 's default, or which in the ordinary course of things events would be likely to result therefrom, including, but not limited towithout limitation, any brokerage fees, advertising costs and other costs reasonably necessary to relet the Property and relet or expenses incurred demolish the Leasehold Improvements, operating and maintenance costs for the Property and the Leasehold Improvements and such other costs recoverable by Landlord under California Civil Code Section 1951.2 which are proximately caused by the Event of Default and termination of this Lease. In no event, however, shall the amount described in this subparagraph (D) include (i) retaking possession any lost profits or revenue or loss of the Premises, including reasonable attorneys’ fees therefor, reputation; (ii) maintaining so long as City is Landlord, any loss of real property taxes and assessments, use taxes and/or sales taxes, which result or preserving are likely to result from the Premises after any default, termination of this Lease; and (iii) preparing any of the Premises for reletting to a new tenant, including repairs or alterations aforesaid damages under this subparagraph (D) (a) which will be incurred more than five (5) years after the termination of this Lease and Tenant's surrender of the Property and the legal vesting of title to the PremisesLeasehold Improvements in Landlord free and clear of this Lease, (ivb) any leasing commissionwhich will be incurred after more than seventy-five percent (75%) of the Floor Area of the Buildings have been relet or reoccupied following surrender of the Buildings by Tenant, or (vc) any other costs necessary or appropriate to relet the Premises.; plus which are not recognized under California landlord/tenant law as recoverable damages under this subparagraph (eD) at Landlord’s electionon account of Tenant's default, any other amounts in addition to or in lieu because of rents received by Landlord as a consequence of the foregoing surrender of the Leasehold Improvements to Landlord, Landlord's failure to mitigate damages or otherwise. The worth, at the time of the award, as may be permitted from time to time by the laws of California. As used in Subsection Subparts (aA) and (b) B), above, shall include interest at the “worth Lease Rate. The worth, at the time of award” is computed by allowing interest at the maximum lawful rate. As used , as referred to in Subsections Subpart (cC) above, the “worth at the time of award” is shall be computed by discounting such amount at the discount rate as set forth in California Civil Code Section 1951.2, or, if no provision for discounting is then set forth therein, at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport San Francisco at the time of the award plus one percent (1%).
Appears in 1 contract
Termination of Lease. Should Landlord elect to may terminate this Lease pursuant and/or Tenant’s right to possession of the provisions abovePremises. If Tenant has abandoned and vacated the Premises, the mere entry of the Premises by Landlord in order to perform acts of maintenance, cure defaults, preserve the Premises or to attempt to relet the Premises, or the appointment of a receiver in order to protect the Landlord’s interest under this Lease, shall not be deemed a termination of Tenant’s right to possession or a termination of this Lease unless Landlord has notified Tenant in writing that this Lease is terminated. Notification of any default described in Paragraph 23 of this Lease shall be in lieu of, and not in addition to, any notice required under applicable law. If Landlord terminates this Lease and Tenant’s right to possession of the Premises, Landlord may recover from Tenant, as damages, the following: :
(a1) the The worth at the time of the award of any unpaid rental rent which had been earned at the time of the termination; plus rental which had been earned plus
(2) The worth at the time of the termination; plus (b) the worth at the time of award of the amount by which the unpaid rental rent which would have been earned after termination until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus plus
(c3) the The worth at the time of the award of the amount by which the unpaid rental rent for the balance of the Lease Term after the time of the award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided; plus plus
(d4) any Any other amount amounts necessary to compensate the Landlord for all of the detriment proximately caused by Tenant’s failure to perform its obligation obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, includingincluding any legal expenses, brokers’ commissions or finders fees (in connection with reletting the Premises and the pro rata portion of any leasing commission paid by Landlord in connection with this Lease which is applicable to the portion of the Lease Term, including option periods, which is unexpired as of the date on which this Lease terminated), the costs of repairs, cleanup, refurbishing, removal and storage or disposal of Tenant’s personal property, equipment, fixtures and anything else that Tenant is required under this Lease to remove but does not limited toremove (including those alterations which Tenant is required to remove pursuant to an election by Landlord and Landlord actually removes whether notice to remove shall be delivered to Tenant), and any costs or expenses for alterations, additions and renovations incurred by Landlord in (i) retaking regaining possession of and reletting (or attempting to relet) the Premises, including reasonable attorneys’ fees therefor, (ii) maintaining or preserving . Tenant shall also reimburse Landlord for the pro rata portion of leasehold improvement costs paid by Landlord to install leasehold improvements on the Premises after any default, (iii) preparing the Premises for reletting which is applicable to a new tenant, including repairs or alterations to the Premises, (iv) any leasing commission, or (v) any other costs necessary or appropriate to relet the Premises.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu that portion of the foregoing Lease Term including any terminated option periods which is unexpired as may be permitted from time of the date on which this Lease terminated, discounted to time by the laws present value. All computations of California. As used in Subsection (a) and (b) above, the “worth at the time of the award” is of amounts recoverable by Landlord under (1) and (2) hereof shall be computed by allowing interest at the maximum lawful ratecontract rate per annum. As used in Subsections (c) above, the The “worth at the time of the award” is recoverable by Landlord under (3) and the discount rate for purposes of determining any amounts recoverable under (4), if applicable, shall be computed by discounting such the amount recoverable by Landlord at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport Bank, San Francisco, California at the time of the award plus one percent (1%). Upon termination of this Lease, whether by lapse of time or otherwise, Tenant shall immediately vacate the Premises and deliver possession to Landlord, and Landlord shall have the right to re-enter the Premises.
Appears in 1 contract
Termination of Lease. Should In the event Landlord elect elects to terminate this Lease by reason of an Event of Default, then notwithstanding such termination (and in addition to the additional costs and expenses recoverable from Tenant pursuant to Section 19.5 below), Tenant shall be liable for and shall pay to Landlord at the address specified for notice to Landlord herein the sum of all Rent and other amounts payable to Landlord pursuant to the provisions aboveterms of this Lease which have accrued to the date of such termination, Landlord may recover from Tenantplus, as damages, an amount equal to the following: total Rent (aBase Rent and Additional Rent, including Tenant's Proportionate Share of Common Area Costs and Landlord's Insurance payments, the Promotion Fund Charge, and Tenant's Tax Payments hereunder) for the worth at the time of award of any unpaid rental which had been earned at the time remaining portion of the termination; plus rental which Term (had such Term not been earned at terminated by Landlord prior to the time date of expiration stated in Article I), less the present value of the termination; plus (b) the worth at the time of award then fair rental value of the Premises for such period (taking into account likely expenses of reletting, existence of other vacancy within the Property and then current leasing conditions), such present value to be based upon a discount rate of ten percent (10%) per annum. In lieu of the lump sum recovery of damages for future rent measured under the formula set forth in the preceding sentence, but in addition to the additional costs and expenses recoverable from Tenant pursuant to Section 19.5 below, Landlord may, in the event of termination pursuant to this Section 19.3, elect to recover "Indemnity Payments," as defined hereinbelow, from Tenant. For purposes of this Lease "Indemnity Payments" means an amount by which equal to the unpaid rental Rent and other payments provided for in this Lease which would have been earned after termination until the time of award exceeds the amount of rental loss Tenant proves could have been reasonably avoided; plus (c) the worth at the time of award of the amount by which the unpaid rental for the balance of the Term after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided; plus (d) any other amount necessary to compensate Landlord for all the detriment caused by Tenant’s failure to perform its obligation under this Lease or which ordinary course of things would be likely to result therefrom, including, but not limited to, any costs or expenses incurred by Landlord in (i) retaking possession of the Premises, including reasonable attorneys’ fees therefor, (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (iv) any leasing commission, or (v) any other costs necessary or appropriate to relet the Premises.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu of the foregoing as may be permitted become due and owing thereunder from time to time during the unexpired Term less the rent and other payments, if any, actually collected by Landlord and allocable to the laws of CaliforniaPremises. As used in Subsection (a) Tenant shall, on demand, make Indemnity Payments monthly, and (b) aboveLandlord may ▇▇▇ for all Indemnity Payments at any time after they accrue, either monthly, or at less frequent intervals. Tenant further agrees that Landlord may bring suit for Indemnity Payments at or after the “worth at the time of award” is computed by allowing interest at the maximum lawful rate. As used in Subsections (c) above, the “worth at the time of award” is computed by discounting such amount at the discount rate end of the Federal Reserve Bank situated nearest Term as originally contemplated under this Lease, and Tenant agrees that in such event Landlord's cause of action to recover the location Indemnity Payments shall be deemed to have accrued on the last day of the Mojave Airport at Term as originally contemplated. Tenant hereby irrevocably waives any defense based on application of a statute of limitation with respect to any action on behalf of Landlord to recover such Indemnity Payments as long as such action is brought within the time applicable limitation period as measured from the last day of award plus one percent (1%)the Term.
Appears in 1 contract
Sources: Lease (Creditrust Corp)
Termination of Lease. Should Landlord elect to terminate this Lease pursuant to the provisions aboveof Section 15.2(b), Landlord may recover from Tenant, as damages, the following: (a) the worth at the time of award of any unpaid rental which had has been earned at the time of the termination; plus rental which had been earned at the time of the termination; plus (b) the worth at the time of award of the amount by which the unpaid rental which would have been earned after termination until the time of award exceeds the amount of rental loss Tenant proves could have been reasonably avoided; plus (c) the worth at the time of award of the amount by which the unpaid rental for the balance of the Term after the time of award exceeds the amount of the rental loss that Tenant proves could be reasonably avoided; plus (d) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s 's failure to perform its obligation under this Lease or which in the ordinary course of things would be likely to result therefrom, including, but not limited to, any costs or expenses incurred by Landlord in (i) retaking possession of the Premises, including reasonable attorneys’ ' fees therefor, (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (iv) any leasing commission, or or, (v) any other costs necessary or appropriate to relet the Premises.; plus (e) at Landlord’s 's election, any other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of the State of California. As used in Subsection subparagraphs (a) and (b) above, the “"worth at the time of award” " is computed by allowing interest at the maximum lawful rate. As used in Subsections subparagraph (c) above, the “"worth at the time of the award” " is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport Building at the time of award plus one percent (1%).
Appears in 1 contract
Termination of Lease. Should Landlord elect to terminate this Lease pursuant to the provisions of Sections 16.2(a) or (c) above, Landlord may recover from Tenant, as damages, the following: (a) the worth at the time of award of any unpaid rental which had been earned at the time of the termination; plus rental which had been earned at the time of the termination; plus (b) the worth at the time of award of the amount by which the unpaid rental rent which would have been earned after termination until the time of award exceeds the amount of rental loss Tenant proves could have been reasonably avoided; plus (c) the worth at the time of award of the amount by which the unpaid rental rent for the balance of the Term after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided; plus (d) any other amount amounts necessary to compensate Landlord for all the detriment proximately caused by TenantT▇▇▇▇▇’s failure to perform its obligation obligations under this Lease or which which, in the ordinary course of things things, would be likely to result therefromtherefrom plus, including, but not limited to, any costs or expenses incurred by Landlord in (i) retaking possession of the Premises, including reasonable attorneys’ fees therefor, (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (iv) any leasing commission, or (v) any other costs necessary or appropriate to relet the Premises.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of Californiathe state in which the Premises is located; provided, however, and notwithstanding anything to the contrary contained in this Lease, the sum of the foregoing items shall in no event exceed an amount equal to the total amount of Per Ticket Rent paid to Landlord under this Lease in the six months having the highest total of Per Ticket Rent due to Landlord during the twelve months preceding the date of termination. As used in Subsection subparagraphs (a) and (b) above, the “worth at the time of award” is computed by allowing interest at the maximum lawful rateInterest Rate. As used in Subsections subparagraph (c) above, the “worth at the time of award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport Project at the time of award plus one percent (1%).
Appears in 1 contract
Termination of Lease. Should If Landlord elect to terminate terminates this Lease pursuant to the terms and provisions aboveof this Section 16, Landlord may recover from TenantTenant and Tenant shall pay to Landlord, on demand, the Rent and other charges payable by Tenant to Landlord through the date of termination, and, in addition, shall pay to Landlord as damages, at the followingelection of Landlord, either: (ax) the worth at the time of award of any unpaid rental which had been earned at the time of the termination; plus rental which had been earned at the time of the termination; plus (b) the worth at the time of award of an accelerated lump sum amount equal to the amount by which Landlord’s estimate of the unpaid aggregate amount of Rent owing from the date of such termination through the Expiration Date plus Landlord’s estimate of the aggregate expenses of reletting the Premises exceeds Landlord’s estimate of the fair rental value of the Premises for the same period (after deducting from such fair rental value the time needed to relet the Premises and the amount of concessions which would normally be given to a new tenant); or (y) amounts equal to the Rent which would have been earned after payable by Tenant had this Lease not been so terminated, payable upon the due dates therefor specified herein following such termination and until the time of award exceeds Expiration Date; provided, however, if Landlord shall re-let the amount of rental loss Premises during such period, that Landlord shall credit Tenant proves could have been reasonably avoided; plus (c) with the worth at net rents received by Landlord from such re-letting, such net rents to be determined by first deducting from the time of award of gross rents as and when received by Landlord from such re-letting the amount by which the unpaid rental for the balance of the Term after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided; plus (d) any other amount necessary to compensate Landlord for all the detriment caused by Tenant’s failure to perform its obligation under this Lease or which ordinary course of things would be likely to result therefrom, including, but not limited to, any costs or expenses incurred or paid by Landlord in (i) retaking possession terminating this Lease, as well as the expenses of the Premisesre-letting, including reasonable attorneys’ fees therefor, (ii) maintaining or preserving the Premises after any default, (iii) altering and preparing the Premises for reletting new tenants, brokerage commissions, and all other similar and dissimilar expenses properly chargeable against the Premises and the rental therefrom, it being understood that any such re-letting may be for a period equal to or shorter or longer than the remaining Term of this Lease; and provided, further, that (i) in no event shall Tenant be entitled to receive any excess of such net rents over the sums payable by Tenant to Landlord hereunder and (ii) in no event shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (y) to a new tenant, including repairs or alterations credit in respect of any net rents from a re-letting except to the Premisesextent that such net rents are actually received by Landlord prior to the commencement of such suit. If the Premises or any part thereof shall be re-let in combination with other space, (iv) any leasing commission, or (v) any other costs necessary or appropriate to relet the Premises.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu a proper apportionment on a square foot area basis shall be made of the foregoing as may be permitted rent received from time to time by the laws re-letting and other expenses of California. As used in Subsection (a) and (b) above, the “worth at the time of award” is computed by allowing interest at the maximum lawful rate. As used in Subsections (c) above, the “worth at the time of award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport at the time of award plus one percent (1%)re-letting.
Appears in 1 contract
Termination of Lease. Should Landlord elect to can terminate this Lease pursuant and ▇▇▇▇▇▇'s right to possession of the provisions abovePremises by giving written notice of termination, and then re-enter the Premises and take possession thereof. No act by Landlord other than giving written notice to Tenant of such termination shall terminate this Lease. Upon termination, Landlord may has the right to recover from all damages incurred by Landlord as a result of Tenant's default, as damages, the following: including:
(a) the The worth at the time of award of any unpaid rental which rent that had been earned at the time of the such termination; plus rental which had been earned at the time of the termination; plus plus
(b) the The worth at the time of award of the amount by which the unpaid rental which rent that would have been earned after the date of termination until the time of award exceeds the amount of rental the loss of rent that Tenant proves could have been reasonably avoided; plus plus
(c) the The worth at the time of award of the amount by which the unpaid rental rent for the balance of the Lease Term after the time of award exceeds the amount of such rental loss that Tenant proves could be have been reasonably avoided; plus plus
(d) any Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligation under this Lease or which ordinary course of things would be likely to result therefrom's default, including, but not limited toto expenses for cleaning, any repairing or restoring the Premises, (ii) expenses for altering, remodeling or otherwise improving the Premises for the purpose of reletting, (iii) brokers' fees and commissions, advertising costs or and other expenses incurred by Landlord of reletting the Premises, (iv) costs of carrying the Premises such as taxes, insurance premiums, utilities and security precautions, (v) expenses in (i) retaking possession of the Premises, including reasonable (vi) attorneys’ ' fees thereforand costs, (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (ivvii) any leasing commission, unearned brokerage commissions paid in connection with this Lease and (viii) reimbursement of any previously waived or (v) any other costs necessary or appropriate to relet the Premises.abated Minimum Monthly Rent and/or Additional Rent; plus plus
(e) at At Landlord’s 's election, any such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of Californiaunder applicable California law. As used in Subsection paragraphs (a) and (b) above, the “"worth at the time of award” is " shall be computed by allowing interest at the maximum lawful permissible legal rate. As used in Subsections paragraph (c) above, the “"worth at the time of award” is " shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport San Francisco at the time of award plus one percent (1%).
Appears in 1 contract
Sources: Standard Industrial Gross Lease (Scripps Financial Corp)
Termination of Lease. Should Sub-Landlord elect to can terminate this Lease pursuant Sublease and Sub-Tenant’s right to possession of the provisions aboveSub-Premises by giving written notice of termination, and then re-enter the Sub-Premises and take possession thereof. No act by Sub-Landlord may other than giving written notice to Sub-Tenant of such termination shall terminate this Sublease. Upon termination, Sub-Landlord has the right to recover from all damages incurred by Sub-Landlord as a result of Sub-Tenant’s default, as damages, the following: including:
(a) the The worth at the time of award of any unpaid rental which rent that had been earned at the time of the such termination; plus rental which had been earned at the time of the termination; plus plus
(b) the The worth at the time of award of the amount by which the unpaid rental which rent that would have been earned after the date of termination until the time of award exceeds the amount of rental the loss of rent that Sub-Tenant proves could have been reasonably avoided; plus plus
(c) the The worth at the time of award of the amount by which the unpaid rental rent for the balance of the Lease Term after the time of award exceeds the amount of such rental loss that Sub-Tenant proves could be have been reasonably avoided; plus plus
(d) any Any other amount necessary to compensate Sub-Landlord for all the detriment proximately caused by Sub-Tenant’s failure to perform its obligation under this Lease or which ordinary course of things would be likely to result therefromdefault, including, but not limited to, any costs or expenses incurred by Landlord in to (i) retaking possession of expenses for cleaning, repairing or restoring the Sub-Premises, including reasonable attorneys’ fees therefor, (ii) maintaining expenses for altering, remodeling or preserving otherwise improving the Sub-Premises after any defaultfor the purpose of reletting, (iii) preparing brokers’ fees and commissions, advertising costs and other expenses of reletting the Premises for reletting to a new tenant, including repairs or alterations to the Sub-Premises, (iv) any leasing commissioncosts of carrying the Sub-Premises, or such as taxes, insurance premiums, utilities and security precautions, (v) expenses in retaking possession of the Sub-Premises, (vi) attorneys’ fees and costs, (vii) any other costs necessary unearned brokerage commissions paid in connection with this Sublease, and (viii) payment of any previously waived or appropriate to relet the Premises.abated Minimum Monthly Rent and/or Additional Rent; plus plus
(e) at At Sub-Landlord’s election, any such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of Californiaunder applicable law. As used in Subsection paragraphs (a) and (b) above, the “worth at the time of award” is shall be computed by allowing interest at the maximum lawful permissible legal rate. As used in Subsections paragraph (c) above, the “worth at the time of award” is shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport San Francisco at the time of award plus one percent (1%).
Appears in 1 contract
Termination of Lease. Should Landlord elect Upon the occurrence of an event of default, all rights of Lessee hereunder to terminate mine, process and ship coal as provided herein shall, at the option of the Lessor (except for an event specified in Section 4.1(d) hereof, which event shall cause a forfeiture and termination ipso facto), become forfeited and cease and determine (the date of such forfeiture and cessation to be referred to herein as the “Date of Termination”), and Lessor shall have the right, without notice or demand (except as set forth in Section 4.2(b)), and without legal action or notice or process required by any Laws and Regulations, to reenter and reclaim the Coal Reserves and to exclude Lessee therefrom and to hold the Coal Reserves free of any claims of Lessee; provided, however, that Lessor shall not have the right to reenter and reclaim the Coal Reserves if Lessee has paid to Lessor the Breach Sale Price; provided further, however, that (i) Lessee shall fully comply with, perform and complete all of its reclamation, environmental and other obligations hereunder, (ii) the termination of this Lease in any manner or for any cause whatever shall not relieve Lessee of its obligation for any payment of any sum which may have accrued hereunder at or prior to the Date of Termination, it being acknowledged that certain of such accrued obligations may be payable under Section 4.2(b) as part of the Breach Sale Price and (iii) in the event Lessor shall assume this Lease pursuant to the provisions above, Landlord may recover from Tenant, as damages, the following: (a) the worth at the time Section 365 of award of any unpaid rental which had been earned at the time Title 11 of the termination; plus rental which had been earned at United States Code (the time “Bankruptcy Code”), then Lessee as debtor-in-possession, or any trustee, receiver or liquidator appointed for Lessee’s benefit shall provide adequate assurance of performance of the terminationterms of this Lease and shall satisfy all other Bankruptcy Code requirements for the assumption of this Lease; plus (band if the trustee does not cure all events of default then existing and provide such adequate assurances under the Bankruptcy Code within the applicable time periods provided by the Bankruptcy Code, then Lessee hereby agrees that cause exists under 11 U.S.C. §362(d) for granting relief from the worth at bankruptcy automatic stay, or Lessor may determine in its sole discretion that the time of award Lease shall be deemed rejected and Lessor shall have the right to immediate possession of the amount Coal Reserves and shall be entitled to all remedies provided by the Bankruptcy Code for damages for breach and/or termination of this Lease. The remedy of termination in the event of default by Lessee as above authorized shall not be deemed or interpreted as the exclusive remedy available to Lessor, and Lessor may require and enforce performance by Lessee of each and every term and provision of this Lease incumbent upon the Lessee to be kept and performed, utilizing any available remedy therefore unless Lessee shall have paid to Lessor the Breach Sale Price in which the unpaid rental which would case Lessor shall not have been earned after any further remedies available for a breach and/or termination until the time of award exceeds the amount of rental loss Tenant proves could have been reasonably avoided; plus (c) the worth at the time of award of the amount by which the unpaid rental for the balance of the Term after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided; plus (d) any this Lease other amount necessary to compensate Landlord for all the detriment caused by Tenantthan damages incurred in connection with Lessee’s failure to perform fully comply with its obligation under this Lease or which ordinary course of things would be likely to result therefrom, including, but not limited to, any costs or expenses incurred by Landlord obligations described in (i) retaking possession of the Premises, including reasonable attorneys’ fees therefor, (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (iv) any leasing commission, or (v) any other costs necessary or appropriate to relet the Premises.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of California. As used in Subsection (a) and (b) above, the “worth at the time of award” is computed by allowing interest at the maximum lawful rate. As used in Subsections (c) above, the “worth at the time of award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport at the time of award plus one percent (1%Section 4.2(a)(ii).
Appears in 1 contract
Sources: Coal Mining Lease (Penn Virginia Resource Partners L P)
Termination of Lease. Should If Landlord elect to terminate terminates this Lease pursuant to the provisions aboveLease, Landlord may recover from Tenant, as damages, Tenant the followingsum of: (ai) all Base Rent and all other amounts accrued hereunder to the date of such termination; (ii) the worth at cost of reletting the time of award of whole or any unpaid rental which had been earned at the time part of the termination; plus rental which had been earned at Premises, including brokerage fees and/or leasing commissions incurred by Landlord (provided that Tenant shall not be liable for any portion applicable to the time of the termination; plus (b) the worth at the time of award of the amount by which the unpaid rental which would have been earned after termination until the time of award exceeds the amount of rental loss Tenant proves could have been reasonably avoided; plus (c) the worth at the time of award of the amount by which the unpaid rental for the balance of the Term period after the time scheduled termination of award exceeds this Lease); (iii) costs of removing and storing Tenant’s or any other occupant’s property; (iv) costs of repairing, altering, remodeling, or otherwise putting the amount of rental loss Premises into the condition that Tenant proves could be reasonably avoidedwas required to leave it on termination of this Lease; plus (dv) any other amount necessary to compensate Landlord for all the detriment caused by Tenant’s failure to perform its obligation under this Lease or which ordinary course of things would be likely to result therefrom, including, but not limited to, any costs or reasonable expenses incurred by Landlord in (i) retaking possession of the Premisespursuing its remedies, including reasonable attorneys’ fees thereforand court costs; and (vi) the excess of the then present value of the Rent Tenant would have been required to pay to Landlord during the period following the termination of this Lease measured from the date of such termination to the expiration date stated in this Lease (excluding any extension periods), (ii) maintaining or preserving over the Premises after present value of any default, (iii) preparing net amounts Tenant establishes Landlord can reasonably expect to recover by reletting the Premises for reletting to such period, taking into consideration the availability of acceptable tenants and other market conditions affecting leasing. Such present values shall be calculated at a new tenantdiscount rate of ten percent (10%) per annum. However, including repairs or alterations to the Premises, (iv) any leasing commission, or (v) any other costs necessary or appropriate to relet the Premises.; plus (e) at if in Landlord’s electionsole and absolute discretion, any other Landlord disagrees with the net amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of California. As used in Subsection Tenant established under subsection (a) and (bvi) above, the “worth at the time of award” subject to Landlord’s duty to mitigate its damages, Landlord may elect to continue to collect Rent as and when Rent is computed by allowing interest at the maximum lawful rate. As used due and not recover from Tenant any amounts described in Subsections subsection (cvi) above, the “worth at the time of award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport at the time of award plus one percent (1%).
Appears in 1 contract
Sources: Lease Agreement (ROX Financial LP)
Termination of Lease. Should Landlord elect to may terminate this Lease pursuant and T▇▇▇▇▇’s right to possession of the provisions abovePremises. If Tenant has abandoned and vacated the Premises, the mere entry of the Premises by Landlord in order to perform acts of maintenance, cure defaults, preserve the Premises or to attempt to relet the Premises, or the appointment of a receiver in order to protect the Landlord’s interest under this Lease, shall not be deemed a termination of Tenant’s right to possession or a termination of this Lease unless Landlord has notified Tenant in writing that this Lease is terminated. Notification of any default described in Paragraph 23 of this Lease shall be in lieu of, and not in addition to, any other notice required under Utah law. If Landlord terminates this Lease and T▇▇▇▇▇’s right to possession of the Premises, Landlord may recover from Tenant, as damages, the following: :
(a1) the The worth at the time of the award of any unpaid rental rent which had been earned at the time of the termination; plus rental which had been earned plus
(2) The worth at the time of the termination; plus (b) the worth at the time of award of the amount by which the unpaid rental rent which would have been earned after termination until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus plus
(c3) the The worth at the time of the award of the amount by which the unpaid rental rent for the balance of the Lease Term after the time of the award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided; plus plus
(d4) any Any other amount amounts necessary to compensate the Landlord for all of the detriment proximately caused by Tenant’s failure to perform its obligation obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, includingincluding any legal expenses, brokers commissions or finders fees (in connection with reletting the Premises and the pro rata portion of any leasing commission paid by Landlord in connection with this Lease which is applicable to the portion of the Lease Term, including option periods, which is unexpired as of the date on which this Lease terminated), the costs of repairs, cleanup, refurbishing, removal and storage or disposal of Tenant’s personal property, equipment, fixtures and anything else that Tenant is required under this Lease to remove but does not limited toremove (including those alterations which Tenant is required to remove pursuant to an election by Landlord and Landlord actually removes whether notice to remove shall be delivered to Tenant), and any costs or expenses for alterations, additions and renovations incurred by Landlord in (i) retaking regaining possession of and reletting (or attempting to relet) the Premises, including reasonable attorneys’ fees therefor, (ii) maintaining or preserving . Tenant shall also reimburse Landlord for the pro rata portion of leasehold improvement costs paid by Landlord to install leasehold improvements on the Premises after any default, (iii) preparing the Premises for reletting which is applicable to a new tenant, including repairs or alterations to the Premises, (iv) any leasing commission, or (v) any other costs necessary or appropriate to relet the Premises.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu that portion of the foregoing Lease Term including any terminated option periods which is unexpired as may be permitted from time of the date on which this Lease terminated, discounted to time by the laws present value. All computations of California. As used in Subsection (a) and (b) above, the “worth at the time of the award” is of amounts recoverable by Landlord under (1) and (2) hereof shall be computed by allowing interest at the maximum lawful ratecontract rate per annum. As used in Subsections (c) above, the The “worth at the time of the award” is recoverable by Landlord under (3) and the discount rate for purposes of determining any amounts recoverable under (4), if applicable, shall be computed by discounting such the amount recoverable by Landlord at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport Bank, San Francisco, California, at the time of the award plus one percent (1%). Upon termination of this Lease, whether by lapse of time or otherwise, T▇▇▇▇▇ shall immediately vacate the Premises and deliver possession to Landlord, and Landlord shall have the right to re-enter the Premises.
Appears in 1 contract
Termination of Lease. Should Landlord elect to can terminate this Lease pursuant and Tenant’s right to possession of the provisions abovePremises by giving written notice of termination, and then re-enter the Premises and take possession thereof. No act by Landlord other than giving written notice to Tenant of such termination shall terminate this Lease. Upon termination, Landlord may has the right to recover from all damages incurred by Landlord as a result of Tenant’s default, as damages, the following: including:
(a) the The worth at the time of award of any unpaid rental which rent that had been earned at the time of the such termination; plus rental which had been earned at the time of the termination; plus plus
(b) the The worth at the time of award of the amount by which the unpaid rental which rent that would have been earned after the date of termination until the time of award exceeds the amount of rental the loss of rent that Tenant proves could have been reasonably avoided; plus plus
(c) the The worth at the time of award of the amount by which the unpaid rental rent for the balance of the Lease Term after the time of award exceeds the amount of such rental loss that Tenant proves could be have been reasonably avoided; plus plus
(d) any Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligation under this Lease or which ordinary course of things would be likely to result therefromdefault, includingIncluding, but not limited to, any costs or expenses incurred by Landlord in to (i) expenses for cleaning, repairing or restoring the Premises, (ii) expenses for altering, remodeling or otherwise improving the Premises for the purpose of reletting, (iii) brokers’ fees and commissions, advertising costs and other expenses of reletting the Premises, (iv) costs of carrying the Premises, such as taxes, insurance premiums, utilities and security precautions, (v) expenses in retaking possession of the Premises, including reasonable (vi) attorneys’ fees thereforand costs, (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (ivvii) any leasing commissionunearned brokerage commissions paid in connection with this Lease, and (viii) payment of any previously waived or (v) any other costs necessary or appropriate to relet the Premises.abated Minimum Monthly Rent and/or Additional Rent; plus plus
(e) at At Landlord’s election, any such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of Californiaunder applicable law. As used in Subsection paragraphs (a) and (b) above, the “worth at the time of award” is shall be computed by allowing interest at the maximum lawful permissible legal rate. As used in Subsections paragraph (c) above, the “worth at the time of award” is shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport San Francisco at the time of award plus one percent (1%).
Appears in 1 contract
Termination of Lease. Should Landlord elect to Lessor may terminate this Lease and all rights -------------------- of Lessee hereunder by giving Lessee written notice that this Lease is terminated, in which event the Term of this Lease shall terminate and all right, title and interest of Lessee hereunder shall expire on the date stated in such notice. Upon such termination, Lessor shall be entitled to recover from Lessee all the fixed dollar amounts of Total Rental accrued and unpaid for the period up to and including such date of termination, as well as all other additional sums payable by Lessee or for which Lessee is liable or in respect of which Lessee has agreed to indemnify Lessor under the provisions of this Lease. In addition, Lessor shall be entitled to recover as damages for the loss of the bargain and not as a penalty (i) the unamortized cost to Lessor, computed and determined in accordance with generally accepted accounting principles, of the Lessee's contribution toward all improvements and alterations, if any, paid for and installed by Lessor pursuant to the provisions abovethis Lease, Landlord may recover from Tenant, as damages, the following: plus (aii) the worth aggregate sum which at the time of award such termination represents the excess, if any, of any unpaid rental which had been earned the present value of the aggregate Total Rental at the time same annual rate for the remainder of the termination; plus rental which had been earned at Term as then in effect pursuant to the time applicable provisions of this Lease, over the then present value of the termination; plus (b) the worth at the time of award then aggregate fair total rental value of the amount by which the unpaid rental which would have been earned after termination until the time of award exceeds the amount of rental loss Tenant proves could have been reasonably avoided; plus (c) the worth at the time of award of the amount by which the unpaid rental Leased Premises for the balance of the Term after Lease Term, such present worth to be computed in each case on the time basis of award exceeds a three percent (3%) per annum discount from the amount of rental loss that Tenant proves could be reasonably avoided; respective dates upon which such Total Rentals would have been payable hereunder had this Lease not been terminated, plus (diii) any other amount necessary to compensate Landlord for all the detriment caused by Tenant’s failure to perform its obligation under this Lease or which ordinary course of things would be likely to result therefrom, including, but not limited to, any costs or expenses incurred by Landlord damages in (i) retaking possession of the Premisesaddition thereto, including reasonable attorneys’ ' fees thereforand court costs, (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (iv) any leasing commission, or (v) any other costs necessary or appropriate to relet the Premises.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu which Lessor shall have sustained by reason of the foregoing as may be permitted from time to time by the laws breach of California. As used in Subsection (a) and (b) above, the “worth at the time of award” is computed by allowing interest at the maximum lawful rate. As used in Subsections (c) above, the “worth at the time of award” is computed by discounting such amount at the discount rate any of the Federal Reserve Bank situated nearest to covenants of this Lease other than for the location payment of the Mojave Airport at the time of award plus one percent (1%)Total Rental.
Appears in 1 contract
Sources: Lease Agreement (Sequiam Corp)
Termination of Lease. Should Landlord elect to may terminate this Lease pursuant or Tenant's right to possession of the provisions abovePremises by notice to Tenant or any other lawful means, in which case this Lease shall terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such event Landlord may shall be entitled to recover from Tenant, as damages, the following: :
(ai) the The worth at the time of award of any the unpaid rental Rentals which had been earned at the time of the termination; plus rental which had been earned at the time of the termination; plus ;
(bii) the The worth at the time of award of the amount by which the unpaid rental Rentals which would have been earned after termination until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus ;
(ciii) the The worth at the time of award (computed by discounting at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent) of the amount by which the unpaid rental Rentals for the balance of the Term after the time of award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided; plus and
(div) any Any other amount amounts necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligation under this Lease the default by Tenant or which in the ordinary course of things events would be likely to result therefromresult, including, but not limited to, any including without limitation the reasonable costs or expenses and expense incurred by Landlord in for:
(iA) retaking Retaking possession of the Premises;
(B) Cleaning and making repairs and alterations (including installation of leasehold improvements, including reasonable attorneys’ fees thereforwhether or not the same shall be funded by a reduction of rent, (iidirect payment or otherwise) maintaining or preserving necessary to return the Premises after any default, (iii) to good condition and preparing the Premises for reletting reletting;
(C) Removing, transporting, and storing any of Tenant's property left at the Premises (although Landlord shall have no obligation to a new tenantremove, including repairs transport, or alterations to store any of the property);
(D) Reletting the Premises, including without limitation, brokerage commissions, advertising costs, and attorneys' fees;
(ivE) any leasing commissionAttorneys' fees, or expert witness fees and court costs;
(vF) any other costs necessary or appropriate to relet Any unamortized real estate brokerage commissions paid in connection with this Lease; and
(G) Costs of carrying the Premises, such as repairs, maintenance, taxes and insurance premiums, utilities and security precautions, if any.; plus (e) at Landlord’s election, any other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of California. As used in Subsection (a) and (b) above, the “worth at the time of award” is computed by allowing interest at the maximum lawful rate. As used in Subsections (c) above, the “worth at the time of award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Mojave Airport at the time of award plus one percent (1%).
Appears in 1 contract
Sources: Office Lease (QCS Net Corp)