Common use of Application of Security Clause in Contracts

Application of Security. If Tenant defaults in its payment of Rent or performance of any of its other obligations under this Lease, and any renewals or extensions thereof, Landlord may, at its sole option, whether before or after enforcing its remedies against the Tenant in accordance with the terms of this Lease retain, use, or apply the whole or any part of the Security to the extent required for payment of any: a) Base Rent; b) Additional Rent; c) Any other amounts Tenant is obligated to pay under the Lease; d) Any amount that Landlord may expend or may be required to expend by reason of Tenant’s Default of this Lease; e) Loss or damage that Landlord may suffer by reason of Tenant’s default, including, without limitation, any damages incurred by Landlord or deficiency resulting from the reletting of the Premises, whether such damages or deficiency accrues before or after summary proceedings or other reentry by Landlord; or f) Costs incurred by Landlord in connection with the cleaning or repair of the Premises upon expiration or earlier termination of this Lease.

Application of Security. If Tenant defaults in its payment of Rent or performance of any of its other obligations under this Lease, and any renewals or extensions thereof, Landlord maytnay, at its sole option, whether before or after enforcing its remedies against the Tenant in accordance with the terms of this Lease under Article 23 hereof, retain, use, or apply the whole or any part of the Security to the extent required for payment of any: (a) Base Rent; (b) Additional Rent; (c) Any other amounts Tenant is obligated to pay under the Lease; (d) Any amount that Landlord may expend or may niay be required to expend by reason of Tenant’s 's Default of this Lease; (e) Loss or damage that Landlord may suffer by reason of Tenant’s 's default, including,Including, without limitationlitnitation, any damages incurred by Landlord or deficiency resulting from the reletting of the Premises, whether such damages or deficiency accrues before or after summary proceedings or other reentry reent1y by Landlord; or (f) Costs incurred by Landlord in connection with the cleaning or repair of the Premises premises upon expiration or earlier termination Termination of this Lease.