Common use of Xxxxxx’x Remedies Clause in Contracts

Xxxxxx’x Remedies. 1) In addition to all rights and remedies available to LESSOR at law or in equity, including but not limited to the remedies available to LESSOR pursuant to Sections 1951.2 and 1951.4 of the California Civil Code, LESSOR shall have the following remedies if LESSEE commits a default. These remedies are not exclusive; they are cumulative in addition to any remedies now or later allowed by law; 2) LESSOR can continue this Lease in full force and effect, and the Lease will continue in effect as long as LESSOR does not terminate LESSEE'S right to possession, and LESSOR shall have the right to collect rent when due. During the period LESSEE is in default, LESSOR can enter the premises and relet them, or any part of them, to third parties for LESSEE'S account. Reletting can be for a period shorter or longer than the remaining term of this Lease, provided, however, that LESSEE'S liability shall not exceed that which arises under this Lease. LESSEE shall pay to LESSOR the rent due under this Lease on the dates the rent is due, less the rent LESSOR receives from any reletting. No act by LESSOR allowed by this paragraph shall terminate this Lease unless LESSOR notifies LESSEE that LESSOR elects to terminate this Lease. After LESSEE'S default and for as long as LESSOR does not terminate LESSEE'S right to possession of the premises, if LESSEE obtains LESSOR'S consent, LESSEE shall have the right to assign or sublet its interest in this Lease; but LESSEE shall not be released from liability. LESSOR'S consent to a proposed assignment or subletting shall not be unreasonably withheld. If LESSOR elects to relet the premises as provided in this paragraph, rent that LESSOR receives from reletting shall be applied to the payment of: a) any indebtedness from LESSEE to LESSOR other than rent due from LESSEE; b) rent due and unpaid under this Lease. After deducting the payments referred to in this paragraph, any sum remaining from the rent LESSOR receives from reletting shall be held by LESSOR and applied in payment of future rent as rent becomes due under this Lease. In no event shall LESSEE be entitled to any excess rent received by LESSOR. If, on the date rent is due under this Lease, the rent received from the reletting is less than the rent due on that date, LESSEE shall pay to LESSOR the remaining rent due. 3) LESSOR can terminate LESSEE'S right to possession of the premises at any time. No act by LESSOR other than giving notice to LESSEE shall terminate this Lease. Acts of maintenance, efforts to relet the premises, or the appointment of a receiver on LESSOR'S initiative to protect LESSOR'S interest under this Lease shall not constitute a termination of LESSEE'S right to possession. On termination, LESSOR has the right to recover from LESSEE: a) The worth, at the time of the award, of the unpaid rent that had been earned at the time of termination of this Lease; b) The worth, at the time of the award, of the amount by which the unpaid rent that would have been earned after the date of termination of this Lease until the time of award exceeds that amount of the loss of rent that LESSEE proves could have been reasonably avoided; c) the worth, at the time of the award, of the amount by which the unpaid rent for the balance of the term after the time of award exceeds the amount of the loss of rent that LESSEE proves could have been reasonably avoided; and d) Any other amount, and court costs, necessary to compensate LESSOR for all detriment proximately caused by LESSEE'S default. The worth, at the time of the award, as used in a) and b) of this paragraph is to be computed by allowing interest at the maximum rate an individual is permitted by law to charge. The worth, at the time of the award, as referred to in c) of this paragraph, is to be computed by discounting the amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus one percent (1%).

Appears in 2 contracts

Samples: Build and Lease Agreement (Basic Us Reit Inc), Build and Lease Agreement (Basic Us Reit Inc)

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Xxxxxx’x Remedies. 1In the event of any default set forth in Paragraph 11(a) In hereof, Lessor, may, at its option, exercise any and all of the remedies listed below. No such remedy herein or otherwise conferred upon or reserved to Lessor shall be considered exclusive or any other remedy, but the same shall be cumulative and shall be in addition to all rights and remedies available to LESSOR every other remedy given hereunder or now or hereafter existing at law or in equityequity or by statute, including but and every power and remedy given by the lease to Lessor may be exercised from time to time and as often as the occasion may rise or may be deemed expedient. (1) Lessor may, without terminating this lease, enter upon the leased premises, without being liable for prosecution or any claim for damages therefor, and do whatever Lessee is obligated to do under the terms of this lease, in which event Lessee shall reimburse Lessor on demand for any expenses which Lessor may incur in thus effect compliance with Lessee’s obligation under this lease; Lessor shall not limited be liable for any damages resulting to the remedies available to LESSOR pursuant to Sections 1951.2 and 1951.4 Lessee from such action, unless caused by gross negligence of the California Civil Code, LESSOR shall have the following remedies if LESSEE commits a default. These remedies are not exclusive; they are cumulative in addition to any remedies now or later allowed by law;Lessor. (2) LESSOR can continue this Lease in full force and effectLessor may, and the Lease will continue in effect as long as LESSOR does not terminate LESSEE'S right to possession, and LESSOR shall have the right to collect rent when due. During the period LESSEE is in default, LESSOR can enter the premises and relet them, or any part of them, to third parties for LESSEE'S account. Reletting can be for a period shorter or longer than the remaining term of this Lease, provided, however, that LESSEE'S liability shall not exceed that which arises under this Lease. LESSEE shall pay to LESSOR the rent due under this Lease on the dates the rent is due, less the rent LESSOR receives from any reletting. No act by LESSOR allowed by this paragraph shall terminate this Lease unless LESSOR notifies LESSEE that LESSOR if it elects to terminate this Lease. After LESSEE'S do so, bring suit for the collection of rents and/or any damages resulting from Lessee’s default and for as long as LESSOR does not terminate LESSEE'S right to without entering into possession of the premises, if LESSEE obtains LESSOR'S consent, LESSEE leased premises or voiding this lease. (3) Lessor may terminate this lease after five days’ written notice to Lessee and this lease shall have the right to assign or sublet its interest in this Lease; but LESSEE shall not be released from liability. LESSOR'S consent to a proposed assignment or subletting shall not be unreasonably withheld. If LESSOR elects to relet the premises as provided in this paragraph, rent that LESSOR receives from reletting shall be applied to the payment of: a) any indebtedness from LESSEE to LESSOR other than rent due from LESSEE; b) rent due and unpaid under this Lease. After deducting the payments referred to in this paragraph, any sum remaining from the rent LESSOR receives from reletting shall be held by LESSOR and applied in payment of future rent as rent becomes due under this Lease. In no event shall LESSEE be entitled to any excess rent received by LESSOR. If, terminate on the date specified therein. Lessee shall quit and surrender the leased premises by said date, failing which, Lessor may enter upon the leased premises forthwith or at any subsequent time without additional notice or demand, (which additional notice or demand is hereby expressly waived by Lessee), without being liable for prosecution of any claim for damages therefor, and expel Lessee and those claiming under it and remove their effects without being guilty of any manner of trespass. Lessee agrees that if Lessor shall cause Lessee’s goods or effects to be removed from the leased premises pursuant to the terms hereof or of any court order, Lessor’s act of so removing such goods or effects shall be deemed to be the act of and for the account of Lessee. (a) Lessor may accelerate and declare the entire remaining unpaid rent is due and any and all other monies payable under this Lease, the rent received from the reletting is less than the rent due on that date, LESSEE shall pay to LESSOR the remaining rent due. 3) LESSOR can terminate LESSEE'S right to possession of the premises at any time. No act by LESSOR other than giving notice to LESSEE shall terminate this Lease. Acts of maintenance, efforts to relet the premises, or the appointment of a receiver on LESSOR'S initiative to protect LESSOR'S interest under this Lease shall not constitute a termination of LESSEE'S right to possession. On termination, LESSOR has the right to recover from LESSEE: a) The worth, at the time of the award, of the unpaid rent that had been earned at the time of termination of this Lease; b) The worth, at the time of the award, of the amount by which the unpaid rent that would have been earned after the date of termination of this Lease until the time of award exceeds that amount of the loss of rent that LESSEE proves could have been reasonably avoided; c) the worth, at the time of the award, of the amount by which the unpaid rent lease for the balance of the term after hereof to be immediately due and payable; or (b) Lessor may collect from Lessee, as liquidated damages, (i) all past due rent and other amounts due Lessor up to the time xxxx of award exceeds termination, plus (ii) the amount difference between rent provided for herein and the proceeds from any re-letting of the loss leased premises, payable in monthly installments over the period that would otherwise have constituted the remaining term of rent this lease, plus (iii) all expenses in connection with such re-letting including, without limitation, all costs, fees and expenses of repossession, brokers, advertising, attorneys, courts, repairing, cleaning, repainting and remodeling the leased premises for re-letting. (4) Without waiving its rights to terminate at any time as provided above, Lessor may retake possession of the leased premises in the same manner as provided in Subparagraph (3) above. It is agreed that LESSEE proves could have been reasonably avoided; and d) Any other amountany such retaking or the commencement and prosecution of any action by Lessor in forcible entry and detainer, ejectment or otherwise, or any execution of any judgment or decree obtained in any action to recover possession of the leased premises shall not be construed as an election to terminate this lease unless Lessor expressly exercises its option hereinbefore provided to declare the term hereof ended, whether or not such entry or reentry be, had or taken under summary proceedings or otherwise, and court costs, necessary shall not be deemed to compensate LESSOR have absolved or discharged Lessee from any of its obligations and liabilities for all detriment proximately caused by LESSEE'S default. The worth, at the time remainder of the awardcurrent term of the lease; rather, this lease shall continue in effect for the remainder of the then current term, and Lessee shall remain liable and obligated under all of the covenants and conditions hereof during the said period and shall pay as used in a) and b) when due the rent and other amounts payable hereunder as if Lessee had not defaulted. Lessor may re-lease the leased premises for the account of Lessee, crediting the rent received on such re-leasing first to the costs of such re-leasing and then to any other amounts owing by Lessee hereunder. Lessee hereby constitutes Lessor, its attorney-in-fact, to take any and all actions necessary or incidental to such re-leasing and this power shall be irrevocable during the term of this paragraph is to be computed by allowing interest at the maximum rate an individual is permitted by law to chargelease. The worth, at the time of the award, as referred to in c) Such continuance of this paragraph, is lease shall not constitute any waiver or consent by Lessor of or to be computed by discounting the amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus one percent (1%)said default or any subsequent default.

Appears in 1 contract

Samples: Warehouse/Office Lease (Dynamic Health Products Inc)

Xxxxxx’x Remedies. 1) In addition to all rights and remedies available to LESSOR at law If any one or in equity, including but not limited to the remedies available to LESSOR pursuant to Sections 1951.2 and 1951.4 more events of the California Civil Codedefault set forth above occurs, LESSOR shall have the following remedies if may, at its election: (i) Give LESSEE commits a default. These remedies are not exclusive; they are cumulative in addition written notice of LESSOR'S intention to any remedies now or later allowed by law; 2) LESSOR can continue this Lease in full force and effect, and the Lease will continue in effect as long as LESSOR does not terminate LESSEE'S right to possession, and LESSOR shall have the right to collect rent when due. During the period LESSEE is in default, LESSOR can enter the premises and relet them, or any part of them, to third parties for LESSEE'S account. Reletting can be for a period shorter or longer than the remaining term of this Lease, provided, however, that LESSEE'S liability shall not exceed that which arises under this Lease. LESSEE shall pay to LESSOR the rent due under this Lease on the dates the rent is dueearliest date permitted by law or on any later date specified in such notice, less the rent LESSOR receives from any reletting. No act by LESSOR allowed by this paragraph shall terminate this Lease unless LESSOR notifies LESSEE that LESSOR elects to terminate this Lease. After LESSEE'S default and for as long as LESSOR does not terminate in which case LESSEE'S right to possession of the premisesPremises will cease and this Lease will be terminated, except as to LESSEE'S liability, as if the expiration of the term fixed in such notice were the end of the Term; (ii) Without further demand or notice, and without terminating this Lease, but in accordance with all applicable laws, reenter and take possession of the Premises or any part of the Premises, repossess the same, expel LESSEE and those claiming through or under LESSEE and remove the effects of both or either, using such force for such purposes as may be necessary, without being liable for prosecution, without being deemed guilty of any matter of trespass, and without prejudice to any remedies for arrears of Basic Rent or other amounts payable under this Lease or as. a result of any preceding breach of covenants or conditions; or (iii) Without further demand or notice, if LESSEE obtains LESSOR'S consent, the LESSEE shall have default in the right observance or performance of any conditions or covenants on LESSEE'S part to assign be observed or sublet its interest performed under or by virtue of any of the provisions in any article of this Lease; , then, during the continuance of such default, LESSOR, without being under any obligation to do so and without thereby waiving such default, may remedy such default for the account and at the expense of the LESSEE. If the LESSOR makes any expenditures or incurs any obligations for the payment of money in connection therewith, including but not limited to, reasonable attorney's fees in instituting, prosecuting or defending any action or proceeding, such sums paid or obligations insured, with interest at the rate of 18 per cent per annum and costs, shall be paid to the LESSOR by the LESSEE as additional rent. Any sums not paid when due shall bear interest at 18 percent per annum until paid. LESSEE shall pay an administrative fee if a check does not be released from liability. LESSOR'S consent to a proposed assignment or subletting shall not be unreasonably withheldclear. If LESSOR elects to relet the premises reenter as provided in this paragraph, rent that subsection (ii) or if LESSOR receives from reletting shall be applied takes possession pursuant to the payment of: a) any indebtedness from LESSEE to LESSOR other than rent due from LESSEE; b) rent due and unpaid under this Lease. After deducting the payments referred to in this paragraph, any sum remaining from the rent LESSOR receives from reletting shall be held by LESSOR and applied in payment of future rent as rent becomes due under this Lease. In no event shall LESSEE be entitled legal proceedings or pursuant to any excess rent received notice provided by LESSOR. Iflaw, on the date rent is due under LESSOR may, from time to time, without terminating this Lease, relet the rent received from Premises or any part of the reletting is Premises in LESSOR'S or LESSEE'S name, but for the account of LESSEE, for such term or terms (which may be greater or less than the rent due on that date, LESSEE shall pay to LESSOR the remaining rent due. 3) LESSOR can terminate LESSEE'S right to possession of the premises at any time. No act by LESSOR other than giving notice to LESSEE shall terminate this Lease. Acts of maintenance, efforts to relet the premises, or the appointment of a receiver on LESSOR'S initiative to protect LESSOR'S interest under this Lease shall not constitute a termination of LESSEE'S right to possession. On termination, LESSOR has the right to recover from LESSEE: a) The worth, at the time of the award, of the unpaid rent that had been earned at the time of termination of this Lease; b) The worth, at the time of the award, of the amount by period which the unpaid rent that would otherwise have been earned after the date of termination of this Lease until the time of award exceeds that amount of the loss of rent that LESSEE proves could have been reasonably avoided; c) the worth, at the time of the award, of the amount by which the unpaid rent for constituted the balance of the term after the time Term) and on such conditions and upon such other terms (which may include concessions of award exceeds the amount free rent and alteration and repair of the loss of rent that LESSEE proves could have been reasonably avoided; and dPremises) Any other amountas LESSOR, in its reasonable discretion, may determine, and court costsLESSOR may collect and receive the rents from such reletting. However, necessary to compensate LESSOR for all detriment proximately caused by proceeds from such relettings shall be credited against LESSEE'S defaultobligations. The worthLESSOR will in no way be responsible or liable for any failure to relet the Premises, at the time or any part of the awardPremises, as used in a) and b) of this paragraph is or for any failure to be computed collect any rent due upon such reletting; however, LESSOR shall take commercially reasonable measures to mitigate its damages to the extent required by allowing interest at the maximum rate an individual is permitted by law to chargelaw. The worth, at the time No such reentry or taking possession of the awardPremises by LESSOR will be construed as an election on LESSOR'S part to terminate this Lease unless a written notice of such intention is given to LESSEE. No written notice from LESSOR under this Section or under a forcible or unlawful entry and detainer statute or similar law will constitute an election by LESSOR to terminate this Lease unless such notice specifically so states. LESSOR reserves the right following any such reentry or reletting to exercise its right to terminate this Lease by giving LESSEE such written notice, in which event this Lease will terminate as referred to specified in c) of this paragraph, is to be computed by discounting the amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus one percent (1%)such notice.

Appears in 1 contract

Samples: Commercial Lease (First Marblehead Corp)

Xxxxxx’x Remedies. 1) In addition to all rights and remedies available to LESSOR at law If any one or in equity, including but not limited to the remedies available to LESSOR pursuant to Sections 1951.2 and 1951.4 more events of the California Civil Codedefault set forth above occurs, LESSOR shall have the following remedies if may, at its election: (i) Give LESSEE commits a default. These remedies are not exclusive; they are cumulative in addition written notice of LESSOR'S intention to any remedies now or later allowed by law; 2) LESSOR can continue this Lease in full force and effect, and the Lease will continue in effect as long as LESSOR does not terminate LESSEE'S right to possession, and LESSOR shall have the right to collect rent when due. During the period LESSEE is in default, LESSOR can enter the premises and relet them, or any part of them, to third parties for LESSEE'S account. Reletting can be for a period shorter or longer than the remaining term of this Lease, provided, however, that LESSEE'S liability shall not exceed that which arises under this Lease. LESSEE shall pay to LESSOR the rent due under this Lease on the dates the rent is dueearliest date permitted by law or on any later date specified in such notice, less the rent LESSOR receives from any reletting. No act by LESSOR allowed by this paragraph shall terminate this Lease unless LESSOR notifies LESSEE that LESSOR elects to terminate this Lease. After LESSEE'S default and for as long as LESSOR does not terminate in which case LESSEE'S right to possession of the premisesPremises will cease and this Lease will be terminated, except as to LESSEE'S liability, as if the expiration of the term fixed in such notice were the end of the Term; (ii) Without further demand or notice, and without terminating this Lease, but in accordance with all applicable laws, reenter and take possession of the Premises or any part of the Premises, repossess the same, expel LESSEE and those claiming through or under LESSEE and remove the effects of both or either, using such force for such purposes as may be necessary, without being liable for prosecution, without being deemed guilty of any matter of trespass, and without prejudice to any remedies for arrears of Basic Rent or other amounts payable under this Lease or as a result of any preceding breach of covenants or conditions; or (iii) Without further demand or notice, if LESSEE obtains LESSOR'S consent, the LESSEE shall have default in the right observance or performance of any conditions or covenants on LESSEE'S part to assign be observed or sublet its interest performed under or by virtue of any of the provisions in any article of this Lease; , then, during the continuance of such default, LESSOR, without being under any obligation to do so and without thereby waiving such default, may remedy such default for the account and at the expense of the LESSEE. If the LESSOR makes any expenditures or incurs any obligations for the payment of money in connection therewith, including but not limited to, reasonable attorney's fees in instituting, prosecuting or defending any action or proceeding, such sums paid or obligations insured, with interest at the rate of 18 per cent per annum and costs, shall be paid to the LESSOR by the LESSEE as additional rent. Any sums not paid when due shall bear interest: at 18 per cent per annum until paid. LESSEE shall pay an administrative fee if a check does not be released from liability. LESSOR'S consent to a proposed assignment or subletting shall not be unreasonably withheldclear. If LESSOR elects to relet the premises reenter as provided in this paragraph, rent that subsection (ii) or if LESSOR receives from reletting shall be applied takes possession pursuant to the payment of: a) any indebtedness from LESSEE to LESSOR other than rent due from LESSEE; b) rent due and unpaid under this Lease. After deducting the payments referred to in this paragraph, any sum remaining from the rent LESSOR receives from reletting shall be held by LESSOR and applied in payment of future rent as rent becomes due under this Lease. In no event shall LESSEE be entitled legal proceedings or pursuant to any excess rent received notice provided by LESSOR. Iflaw, on the date rent is due under LESSOR may, from time to time, without terminating this Lease, relet the rent received from Premises or any part of the reletting is Premises in LESSOR'S or LESSEE'S name, but for the account of LESSEE, for such term or terms (which may be greater or less than the rent due on that date, LESSEE shall pay to LESSOR the remaining rent due. 3) LESSOR can terminate LESSEE'S right to possession of the premises at any time. No act by LESSOR other than giving notice to LESSEE shall terminate this Lease. Acts of maintenance, efforts to relet the premises, or the appointment of a receiver on LESSOR'S initiative to protect LESSOR'S interest under this Lease shall not constitute a termination of LESSEE'S right to possession. On termination, LESSOR has the right to recover from LESSEE: a) The worth, at the time of the award, of the unpaid rent that had been earned at the time of termination of this Lease; b) The worth, at the time of the award, of the amount by period which the unpaid rent that would otherwise have been earned after the date of termination of this Lease until the time of award exceeds that amount of the loss of rent that LESSEE proves could have been reasonably avoided; c) the worth, at the time of the award, of the amount by which the unpaid rent for constituted the balance of the term after the time Term) and on such conditions and upon such other terms (which may include concessions of award exceeds the amount free rent and alteration and repair of the loss of rent that LESSEE proves could have been reasonably avoided; and dPremises) Any other amountas LESSOR, in its reasonable discretion, may determine, and court costsLESSOR may collect and receive the rents from such reletting. However, necessary to compensate LESSOR for all detriment proximately caused by proceeds from such relettings shall be credited against LESSEE'S defaultobligations. The worthLESSOR will in no way be responsible or liable for any failure to relet the Premises, at the time or any part of the awardPremises, as used in a) and b) of this paragraph is or for any failure to be computed collect any rent due upon such reletting; however, LESSOR shall take commercially reasonable measures to mitigate its damages to the extent required by allowing interest at the maximum rate an individual is permitted by law to chargelaw. The worth, at the time No such reentry or taking possession of the awardPremises by LESSOR will be construed as an election on LESSOR'S part to terminate this Lease unless a written notice of such intention is given to LESSEE. No written notice from LESSOR under this Section or under a forcible or unlawful entry and detainer statute or similar law will constitute an election by LESSOR to terminate this Lease unless such notice specifically so states. LESSOR reserves the right following any such reentry or reletting to exercise its right to terminate this Lease by giving LESSEE such written notice, in which event this Lease will terminate as referred to specified in c) of this paragraph, is to be computed by discounting the amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus one percent (1%)such notice.

Appears in 1 contract

Samples: Commercial Lease (First Marblehead Corp)

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Xxxxxx’x Remedies. 1) In addition to all rights and remedies available to LESSOR at law If any one or in equity, including but not limited to the remedies available to LESSOR pursuant to Sections 1951.2 and 1951.4 more events of the California Civil Codedefault set forth above occurs, LESSOR shall have the following remedies if may, at its election: (i) Give LESSEE commits a default. These remedies are not exclusive; they are cumulative in addition written notice of LESSOR'S intention to any remedies now or later allowed by law; 2) LESSOR can continue this Lease in full force and effect, and the Lease will continue in effect as long as LESSOR does not terminate LESSEE'S right to possession, and LESSOR shall have the right to collect rent when due. During the period LESSEE is in default, LESSOR can enter the premises and relet them, or any part of them, to third parties for LESSEE'S account. Reletting can be for a period shorter or longer than the remaining term of this Lease, provided, however, that LESSEE'S liability shall not exceed that which arises under this Lease. LESSEE shall pay to LESSOR the rent due under this Lease on the dates the rent is dueearliest date permitted by law or on any later date specified in such notice, less the rent LESSOR receives from any reletting. No act by LESSOR allowed by this paragraph shall terminate this Lease unless LESSOR notifies LESSEE that LESSOR elects to terminate this Lease. After LESSEE'S default and for as long as LESSOR does not terminate in which case LESSEE'S right to possession of the premisesPremises will cease and this Lease will be terminated, except as to LESSEE'S liability, as if the expiration of the term fixed in such notice were the end of the Term; (ii) Without further demand or notice, and without terminating this Lease, but in accordance with all applicable laws, reenter and take possession of the Premises or any part of the Premises, repossess the same, expel LESSEE and those claiming through or under LESSEE and remove the effects of both or either, using such force for such purposes as may be necessary, without being liable for prosecution, without being deemed guilty of any matter of trespass, and without prejudice to any remedies for arrears of Basic Rent or other amounts payable under this Lease or as a result of any preceding breach of covenants or conditions; or (iii) Without further demand or notice, if LESSEE obtains LESSOR'S consent, the LESSEE shall have default in the right observance or performance of any conditions or covenants on LESSEE'S part to assign be observed or sublet its interest performed under or by virtue of any of the provisions in any article of this Lease; , then, during the continuance of such default, LESSOR, without being under any obligation to do so and without thereby waiving such default, may remedy such default for the account and at the expense of the LESSEE. If the LESSOR makes any expenditures or incurs any obligations for the payment of money in connection therewith, including but not limited to, reasonable attorney's fees in instituting, prosecuting or defending any action or proceeding, such sums paid or obligations insured, with interest at the rate of 18 per cent per annum and costs, shall be paid to the LESSOR by the LESSEE as additional rent. Any sums not paid when due shall bear interest at 18 per cent per annum until paid. LESSEE shall pay an administrative fee if a check does not be released from liability. LESSOR'S consent to a proposed assignment or subletting shall not be unreasonably withheldclear. If LESSOR elects to relet the premises reenter as provided in this paragraph, rent that subsection (ii) or if LESSOR receives from reletting shall be applied takes possession pursuant to the payment of: a) any indebtedness from LESSEE to LESSOR other than rent due from LESSEE; b) rent due and unpaid under this Lease. After deducting the payments referred to in this paragraph, any sum remaining from the rent LESSOR receives from reletting shall be held by LESSOR and applied in payment of future rent as rent becomes due under this Lease. In no event shall LESSEE be entitled legal proceedings or pursuant to any excess rent received notice provided by LESSOR. Iflaw, on the date rent is due under LESSOR may, from time to time, without terminating this Lease, relet the rent received from Premises or any part of the reletting is Premises in LESSOR'S or LESSEE'S name, but for the account of LESSEE, for such term or terms (which may be greater or less than the rent due on that date, LESSEE shall pay to LESSOR the remaining rent due. 3) LESSOR can terminate LESSEE'S right to possession of the premises at any time. No act by LESSOR other than giving notice to LESSEE shall terminate this Lease. Acts of maintenance, efforts to relet the premises, or the appointment of a receiver on LESSOR'S initiative to protect LESSOR'S interest under this Lease shall not constitute a termination of LESSEE'S right to possession. On termination, LESSOR has the right to recover from LESSEE: a) The worth, at the time of the award, of the unpaid rent that had been earned at the time of termination of this Lease; b) The worth, at the time of the award, of the amount by period which the unpaid rent that would otherwise have been earned after the date of termination of this Lease until the time of award exceeds that amount of the loss of rent that LESSEE proves could have been reasonably avoided; c) the worth, at the time of the award, of the amount by which the unpaid rent for constituted the balance of the term after the time Term) and on such conditions and upon such other terms (which may include concessions of award exceeds the amount free rent and alteration and repair of the loss of rent that LESSEE proves could have been reasonably avoided; and dPremises) Any other amountas LESSOR, in its reasonable discretion, may determine, and court costsLESSOR may collect and receive the rents from such reletting. However, necessary to compensate LESSOR for all detriment proximately caused by proceeds from such relettings shall be credited against LESSEE'S defaultobligations. The worthLESSOR will in no way be responsible or liable for any failure to relet the Premises, at the time or any part of the awardPremises, as used in a) and b) of this paragraph is or for any failure to be computed collect any rent due upon such reletting; however, LESSOR shall take commercially reasonable measures to mitigate its damages to the extent required by allowing interest at the maximum rate an individual is permitted by law to chargelaw. The worth, at the time No such reentry or taking possession of the awardPremises by LESSOR will be construed as an election on LESSOR'S part to terminate this Lease unless a written notice of such intention is given to LESSEE. No written notice from LESSOR under this Section or under a forcible or unlawful entry and detainer statute or similar law will constitute an election by LESSOR to terminate this Lease unless such notice specifically so states. LESSOR reserves the right following any such reentry or reletting to exercise its right to terminate this Lease by giving LESSEE such written notice, in which event this Lease will terminate as referred to specified in c) of this paragraph, is to be computed by discounting the amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus one percent (1%)such notice.

Appears in 1 contract

Samples: Commercial Lease (First Marblehead Corp)

Xxxxxx’x Remedies. 1In the event of any default set forth in Paragraph 11(a) In hereof, Lessor, may, at its option, exercise any and all of the remedies listed below. No such remedy herein or otherwise conferred upon or reserved to Lessor shall be considered exclusive or any other remedy, but the same shall be cumulative and shall be in addition to all rights and remedies available to LESSOR every other remedy given hereunder or now or hereafter existing at law or in equityequity or by statute, including but and every power and remedy given by the lease to Lessor may be exercised from time to time and as often as the occasion may rise or may be deemed expedient. (1) Lessor may, without terminating this lease, enter upon the leased premises, without being liable for prosecution or any claim for damages therefor, and do whatever Lessee is obligated to do under the terms of this lease, in which event Lessee shall reimburse Lessor on demand for any expenses which Lessor may incur in thus effect compliance with Lessee’s obligation under this lease; Lessor shall not limited be liable for any damages resulting to the remedies available to LESSOR pursuant to Sections 1951.2 and 1951.4 Lessee from such action, unless caused by gross negligence of the California Civil Code, LESSOR shall have the following remedies if LESSEE commits a default. These remedies are not exclusive; they are cumulative in addition to any remedies now or later allowed by law;Lessor. (2) LESSOR can continue this Lease in full force and effectLessor may, and the Lease will continue in effect as long as LESSOR does not terminate LESSEE'S right to possession, and LESSOR shall have the right to collect rent when due. During the period LESSEE is in default, LESSOR can enter the premises and relet them, or any part of them, to third parties for LESSEE'S account. Reletting can be for a period shorter or longer than the remaining term of this Lease, provided, however, that LESSEE'S liability shall not exceed that which arises under this Lease. LESSEE shall pay to LESSOR the rent due under this Lease on the dates the rent is due, less the rent LESSOR receives from any reletting. No act by LESSOR allowed by this paragraph shall terminate this Lease unless LESSOR notifies LESSEE that LESSOR if it elects to terminate this Lease. After LESSEE'S do so, bring suit for the collection of rents and/or any damages resulting from Lessee’s default and for as long as LESSOR does not terminate LESSEE'S right to without entering into possession of the premises, if LESSEE obtains LESSOR'S consent, LESSEE leased premises or voiding this lease. (3) Lessor may terminate this lease after five days’ written notice to Lessee and this lease shall have the right to assign or sublet its interest in this Lease; but LESSEE shall not be released from liability. LESSOR'S consent to a proposed assignment or subletting shall not be unreasonably withheld. If LESSOR elects to relet the premises as provided in this paragraph, rent that LESSOR receives from reletting shall be applied to the payment of: a) any indebtedness from LESSEE to LESSOR other than rent due from LESSEE; b) rent due and unpaid under this Lease. After deducting the payments referred to in this paragraph, any sum remaining from the rent LESSOR receives from reletting shall be held by LESSOR and applied in payment of future rent as rent becomes due under this Lease. In no event shall LESSEE be entitled to any excess rent received by LESSOR. If, terminate on the date specified therein. Lessee shall quit and surrender the leased premises by said date, failing which, Lessor may enter upon the leased premises forthwith or at any subsequent time without additional notice or demand, (which additional notice or demand is hereby expressly waived by Lessee), without being liable for prosecution of any claim for damages therefor, and expel Lessee and those claiming under it and remove their effects without being guilty of any manner of trespass. Lessee agrees that if Lessor shall cause Lessee’s goods or effects to be removed from the leased premises pursuant to the terms hereof or of any court order, Lessor’s act of so removing such goods or effects shall be deemed to be the act of and for the account of Lessee. (a) Lessor may accelerate and declare the entire remaining unpaid rent is due and any and all other monies payable under this Lease, the rent received from the reletting is less than the rent due on that date, LESSEE shall pay to LESSOR the remaining rent due. 3) LESSOR can terminate LESSEE'S right to possession of the premises at any time. No act by LESSOR other than giving notice to LESSEE shall terminate this Lease. Acts of maintenance, efforts to relet the premises, or the appointment of a receiver on LESSOR'S initiative to protect LESSOR'S interest under this Lease shall not constitute a termination of LESSEE'S right to possession. On termination, LESSOR has the right to recover from LESSEE: a) The worth, at the time of the award, of the unpaid rent that had been earned at the time of termination of this Lease; b) The worth, at the time of the award, of the amount by which the unpaid rent that would have been earned after the date of termination of this Lease until the time of award exceeds that amount of the loss of rent that LESSEE proves could have been reasonably avoided; c) the worth, at the time of the award, of the amount by which the unpaid rent lease for the balance of the term after hereof to be immediately due and payable; or (b) Lessor may collect from Lessee, as liquidated damages, (i) all past due rent and other amounts due Lessor up to the time date of award exceeds termination, plus (ii) the amount difference between rent provided for herein and the proceeds from any re-letting of the loss leased premises, payable in monthly installments over the period that would otherwise have constituted the remaining term of rent this lease, plus (iii) all expenses in connection with such re-letting including, without limitation, all costs, fees and expenses of repossession, brokers, advertising, attorneys, courts, repairing, cleaning, repainting and remodeling the leased premises for re-letting. (4) Without waiving its rights to terminate at any time as provided above, Lessor may retake possession of the leased premises in the same manner as provided in Subparagraph (3) above. It is agreed that LESSEE proves could have been reasonably avoided; and d) Any other amountany such retaking or the commencement and prosecution of any action by Lessor in forcible entry and detainer, ejectment or otherwise, or any execution of any judgment or decree obtained in any action to recover possession of the leased premises shall not be construed as an election to terminate this lease unless Lessor expressly exercises its option hereinbefore provided to declare the term hereof ended, whether or not such entry or reentry be, had or taken under summary proceedings or otherwise, and court costs, necessary shall not be deemed to compensate LESSOR have absolved or discharged Lessee from any of its obligations and liabilities for all detriment proximately caused by LESSEE'S default. The worth, at the time remainder of the awardcurrent term of the lease; rather, this lease shall continue in effect for the remainder of the then current term, and Lessee shall remain liable and obligated under all of the covenants and conditions hereof during the said period and shall pay as used in a) and b) when due the rent and other amounts payable hereunder as if Lessee had not defaulted. Lessor may re-lease the leased premises for the account of Lessee, crediting the rent received on such re-leasing first to the costs of such re-leasing and then to any other amounts owing by Lessee hereunder. Lessee hereby constitutes Lessor, its attorney-in-fact, to take any and all actions necessary or incidental to such re-leasing and this power shall be irrevocable during the term of this paragraph is to be computed by allowing interest at the maximum rate an individual is permitted by law to chargelease. The worth, at the time of the award, as referred to in c) Such continuance of this paragraph, is lease shall not constitute any waiver or consent by Lessor of or to be computed by discounting the amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus one percent (1%)said default or any subsequent default.

Appears in 1 contract

Samples: Lease Agreement (GeoPharma, Inc.)

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