Default of Tenant. Each of the following shall constitute a default by Tenant under this Lease: (a) Tenant fails to pay any amount required under this Lease as and when the same becomes due and said failure is not cured within ten (10) days after written notice thereof from Landlord; (b) Tenant fails to perform any other term, condition, or obligation under this Lease and said failure is not cured within thirty (30) days after written notice thereof from Landlord. Upon the occurrence of any such default by Tenant, Landlord shall have the option to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇.
Appears in 4 contracts
Sources: Lease Agreement, Lease Agreement, Lease Agreement
Default of Tenant. Each of the following shall constitute a an event of default by Tenant under this Lease:
: (a) Tenant fails Tenant’s failure to pay make any amount required under payment of the Base Rent, additional rent or any other sum within five (5) business days of such payment’s due date; (b) Tenant’s failure to take possession of the Demised Premises within THIRTY (30) calendar days after delivery thereof to Tenant; (c) Tenant’s violation or failure to perform or observe any other covenant or condition of this Lease as and when the same becomes due and said failure is not cured within ten (10) calendar days after written notice thereof from Landlord; (b) Tenant fails to perform any other term, condition, or obligation under this Lease and said if such violation or failure is remediable but is of such a nature that it cannot cured be remedied within thirty such ten (3010) days after written notice thereof from Landlord. Upon calendar day period, then for such longer period as may reasonably be required up to a maximum of ninety (90) days, provided that Tenant promptly commences and diligently pursues such remedy to completion; (d) Tenant’s abandonment or vacation of the occurrence Demised Premises; (e) the insolvency or bankruptcy of any such default by Tenant, any general partner of Tenant (a “General Partner”) or any guarantor; or (f) Tenant’s dissolution or liquidation. If there shall be an event of default, including an event of default prior to the Lease Commencement Date, then Landlord shall have the option right, at its sole option, to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease. In addition, in which event Tenant shall immediately surrender the Leased Premises to Landlordwith or without terminating this Lease, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rentreenter the Demised Premises, enter upon terminate Tenant’s right of possession and take possession of the Leased Premises and expel or remove Tenant and Demised Premises. The provisions of this Article shall operate as a notice to quit, any other person who notice to quit or of Landlord’s intention to reenter the Demised Premises being hereby expressly waived. If necessary, Landlord may proceed to recover possession of the Demised Premises under and by virtue of the laws of the Commonwealth of Virginia, or by such other proceedings, including reentry and possession, as may be occupying applicable. If Landlord elects to terminate this Lease and/or elects to terminate Tenant’s right of possession, then everything contained in this Lease to be done and performed by Landlord shall cease, without prejudice, however, to Landlord’s right to recover from Tenant all rent and other sums due hereunder through the Leased Lease Expiration Date as defined in Article III. No such re-entry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease unless a written notice of such intention be given to Tenant or unless the termination thereof shall result as a matter of law or be decreed by a court of competent jurisdiction. Whether or not this Lease and/or Tenant’s right of possession is terminated, Landlord may, but shall not be obligated to, relet the Demised Premises or any part thereof, without being alone or together with other premises, for such rent and upon such terms and conditions (which may include concessions, free rent and alterations of the Demised Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for, nor shall Tenant’s obligations be diminished by reason of, Landlord’s failure to relet the Demised Premises or collect any rent due upon such reletting. Whether or not this Lease is terminated, Tenant nevertheless shall remain liable for prosecution any Base Rent, additional rent or damages which may be due or sustained by reason of such default, and costs, fees and expenses (including without limitation reasonable attorneys’ fees, brokerage fees, expenses incurred in placing the Demised Premises in rentable condition and tenant finish necessitated to obtain the new tenant) incurred by Landlord in pursuit of its remedies and in renting the Demised Premises to others from time to time. Notwithstanding any claim of damages therefor; such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous breach. Tenant shall also be liable to Landlord for additional damages, which shall be, at Landlord’s option, either (a) or enter upon (b) below:
(a) an amount equal to the Base Rent and take possession additional rent which would have become due during the remainder of the Leased Lease Term, less the amount or rent, if any, which Landlord receives during such period from others to whom the Demised Premises and expel or remove Tenant and may be rented (other than any additional rent payable as a result of any failure of such other person who to perform any of its obligations), which damages shall be computed and payable in monthly installments, in advance, on the first day of each calendar month following Tenant’s default and continuing until the date on which the Lease Term would have expired but for Tenant’s default. Separate suits may be occupying brought to collect any such damages for any month(s), and such suits shall not in any manner prejudice Landlord’s right to collect any such damages for any subsequent month(s), or Landlord may defer any such suit until after the Leased Lease Expiration Date, in which event the cause of action shall be deemed not to have accrued until the Lease Expiration Date; or
(b) an amount equal to the present value (as of the date of Tenant’s default) of the Base Rent and additional rent which would have become due during the remainder of the Lease Term, less the rent received by Landlord under any reletting of the Demised Premises, which damages shall be payable to Landlord in one lump sum on demand; provided that Landlord has relet the Demised Premises which reletting may occur at any time up to the Lease Expiration Date. For purposes of this subsection (b), present value shall be computed by discounting at a rate equal to one (1) whole percentage point above the discount rate then in effect at the Federal Reserve Bank of New York. Tenant waives any right of redemption, re-entry or restoration of the operation of this Lease under any part thereof without being liable present or future law, including any such right which Tenant would otherwise have if Tenant shall be dispossessed for prosecution any cause. Landlord’s rights and remedies set forth in this Lease are cumulative and in addition to Landlord’s other rights and remedies at law or in equity, including those available as a result of any claim for damages therefor, with or without having terminated anticipatory breach of this Lease. In addition Landlord’s exercise of any such right or remedy shall not prevent the concurrent or subsequent exercise of any other right or remedy. Landlord’s delay or failure to exercise or enforce any of Landlord’s rights or remedies or Tenant’s obligations shall not constitute a waiver of any such rights, remedies or obligations. If, as a result of any breach or default in the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation performance of any of the terms, covenants, conditions or other provisions of this LeaseLease (whether or not such default is later cured), by injunction, Landlord uses the services of an attorney in order of specific performance to secure compliance with such provisions or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any orderrecover damages therefor, or simultaneouslyto terminate this Lease or evict Tenant, without such exercise being a waiver or if Landlord is required to defend itself or the terms of this Lease and Landlord uses the services of an attorney then (whether or not suit is actually filed or prosecuted to judgment) Tenant shall reimburse Landlord upon demand for any and all attorneys’ fees and expenses so incurred by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇Landlord.
Appears in 2 contracts
Sources: Lease (Global Defense Technology & Systems, Inc.), Lease (Global Defense Technology & Systems, Inc.)
Default of Tenant. Each of the following (a) It shall constitute be a default by Tenant under this Leaseif:
(a1) the rent herein required is not paid at the time and place when and where due and Tenant fails to pay any amount required under this Lease as and when the same becomes due and said failure is not cured rent within ten (10) days after written notice thereof demand from Landlord; or (b2) Tenant fails to perform comply with any other material term, provision, condition, or obligation under covenant of this Lease Lease, other than the payment of rent, and said will not cure such failure is not cured within thirty (30) days after written notice thereof to Tenant of such failure to comply or such additional time period as may reasonably be necessary to effect a cure of the default provided that Tenant commences and diligently pursues a cure of the default; or (3) Tenant causes any lien to be placed against the Premises and does not cure the same within thirty (30) days after notice from Landlord. Landlord to Tenant demanding cure.
(b) Upon the occurrence any default by Tenant referenced in Subparagraph (a) above, Landlord may, in addition to, and not in limitation of any such default other remedy permitted by Tenant, Landlord shall have the option to pursue any one law or more of the following remedies without any additional notice or demand whatsoever: by this Lease:
(1) terminate this Lease, in which event case Tenant shall (A) immediately surrender the Leased Premises to Landlord, and if Tenant fails (B) indemnify Landlord for all loss and damage that Landlord may suffer by reason of such termination, whether through inability to do so Landlord mayrelet the Premises, or through decrease in rent, or otherwise; or
(2) acting as Tenant's agent, without prejudice to any other remedy which Landlord terminating this Lease, may have for omission or arrearages in Rentterminate Tenant's right of possession, and, at Landlord's option, enter upon and take possession of rent the Leased Premises and expel or remove Tenant and any other person who may be occupying at the Leased Premises or any part thereofbest price obtainable by reasonable effort, without being advertisement and by private negotiations and for any term Landlord deems proper, in which case Tenant will be liable to Landlord for prosecution or any claim of damages therefor; or enter upon the deficiency, if any, between Tenant's rent hereunder and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Leaseprice obtained by Landlord on reletting. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation Pursuit of any of the termsforegoing remedies will not preclude pursuit of any of the other remedies herein provided or any other remedies provided by law. In any case, covenants, conditions Landlord will use reasonable efforts to mitigate Tenant's damages. Any notice in this provision may be given by Landlord or other provisions its attorney. No termination of this LeaseLease prior to the normal ending thereof, by injunctionlapse of time or otherwise, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its will affect Landlord's right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect collect rent for the period prior to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇termination thereof.
Appears in 2 contracts
Sources: Lease Agreement (Bairnco Corp /De/), Lease Agreement (Nur Macroprinters LTD)
Default of Tenant. 21.1 Each of the following shall constitute a default by Tenant under this Lease:
an Event of Default: (a) Tenant's failure to make any payment of the Base Rent, Additional Rent or any other sum (i) within five (5) days notice from Landlord that such payment has not been made ("Landlord Notice") or (ii) if Tenant fails to pay any amount required under this has received three (3) such Landlord Notices during such Lease as and when the same becomes due and said failure is not cured Year within ten five (105) days after written notice thereof from Landlordsuch payment's due date; (b) Tenant fails Tenant's failure to take possession of the Premises within sixty (60) days of the Lease Commencement Date; (c) Tenant's violation or failure to perform or observe any other term, covenant or condition, which violation or obligation under this Lease and said failure is not cured within continues for a period of thirty (30) days after written notice thereof from Landlord. Upon , or if such violation or failure is remediable but is of such a nature that it cannot be remedied within such thirty (30) day period, then for such longer period (not to exceed ninety (90) days subject to Force Majeure ) as may reasonably be required, provided that Tenant promptly commences and diligently pursues such remedy to completion; (d) Tenant's abandonment or vacation of the occurrence Premises; (e) an Event of any such default by Bankruptcy as specified in Article XXII with respect to Tenant, any general partner of Tenant (a "General Partner") or any Guarantor; or (f) Tenant's dissolution or liquidation.
21.2 If there shall be an Event of Default, including an Event of Default prior to the Rent Commencement Date, then Landlord shall have the option right, at its sole option, to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease. In addition, in which event Tenant shall immediately surrender the Leased Premises to Landlordwith or without terminating this Lease, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rentre-enter, enter upon terminate Tenant's right of possession and take possession of the Leased Premises and expel or remove Tenant and Premises. The provisions of this Article shall operate as a notice to quit, any other person who notice to quit or of Landlord's intention to re-enter the Premises being hereby expressly waived. If necessary, Landlord may proceed to recover possession of the Premises under and by virtue of the laws of the Commonwealth of Virginia, or by such other proceedings, including re-entry and possession, as may be occupying applicable. If Landlord elects to terminate this Lease and/or elects to terminate Tenant's right of possession, then everything contained in this Lease to be done and performed by Landlord shall cease, without prejudice, however, to Landlord's right to recover from Tenant all rent and other sums due under the Leased terms and conditions of this Lease. Whether or not this Lease and/or Tenant's right of possession is terminated, Landlord may, but shall not be obligated to, relet the Premises or any part thereof, without being alone or together with other premises, for such rent and upon such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for, nor shall Tenant's obligations be diminished by reason of, Landlord's failure to relet the Premises or collect any rent due upon such reletting. Whether or not this Lease is terminated, Tenant nevertheless shall remain liable for prosecution any Base Rent, Additional Rent or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who which may be occupying due or sustained prior to such default, all costs, fees and expenses (including without limitation reasonable attorneys' fees, brokerage fees, expenses incurred in placing the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition in rentable condition and tenant finish necessitated to obtain the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised new tenant) incurred by Landlord in pursuit of its remedies and in renting the Premises to others from time to time. Tenant shall also be liable for additional damages which at Landlord's election shall be either:
(a) an amount equal to the Base Rent, Additional Rent and other amounts due Landlord which would have become due during the remainder of the Lease Term, less the amount of rental, if any, which Landlord receives during such period from others to whom the Premises may be rented (other than any orderAdditional Rent payable as a result of any failure of such other person to perform any of its obligations), which damages shall be computed and payable in monthly installments, in advance, on the first day of each calendar month following Tenant's default and continuing until the date on which the Lease Term would have expired but for Tenant's default. Separate suits may be brought to collect any such damages for any month(s), and such suits shall not in any manner prejudice Landlord's right to collect any such damages for any subsequent month(s), or simultaneouslyLandlord may defer any such suit until after the expiration of the Lease Term, without such exercise being a waiver in which event the cause of action shall be deemed not to have accrued until the expiration of the Lease Term: or
(b) an amount equal to the Present Value Damages. "Present Value Damages" shall be an amount equal to the present value (as of the date of Tenant's default) of the difference between (i) the Base Rent and Additional Rent that would have become due through the date on which the Lease Term would have expired but for Tenant's default, and (ii) the fair market rental value(as reasonably determined by Landlord Landlord) of its right to exercise any other remedy granted the Premises for the same period, which Present Value Damages shall be payable to Landlord hereunder in a lump sum on demand. For purpose of this Section, present value shall be computed by discounting at a rate equal to one (1) whole percentage point above the discount rate then in effect at the Federal Reserve Bank of New York. Tenant waives any right of redemption, re-entry or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender restoration of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of this Lease under any present or future law, it being understood that including any such surrender can right which Tenant would otherwise have if Tenant shall be affected only by the written agreement of Landlord and ▇▇▇▇▇▇dispossessed for any cause.
Appears in 2 contracts
Sources: Deed of Office Lease (Mercator Software Inc), Deed of Office Lease (Mercator Software Inc)
Default of Tenant. Each a. In the event of the following shall constitute a default by any failure of Tenant under this Lease:
(a) Tenant fails to pay any amount required under rental due hereunder on the date the same shall be due, or any failure to perform any other of the terms, conditions or covenants of this Lease as and when the same becomes due and said failure is not cured within ten Agreement to be observed or performed by Tenant for more than twenty (1020) days after written notice thereof from Landlord; (b) Tenant fails of such failure shall have been given to perform any other term, conditionTenant, or obligation under if Tenant or an agent of Tenant shall falsify any report required to be furnished to Landlord pursuant to the terms of this Lease and said failure is not cured within thirty (30) days after written notice thereof from Landlord. Upon Agreement, or if Tenant or any guarantor of this Lease Agreement shall become bankrupt or insolvent, or file any debtor proceedings or any person shall take or have against Tenant or any guarantor of this Lease Agreement in any court pursuant to any statute either of the occurrence United States or of any state a petition of bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Tenant’s or any such guarantor’s property, or if Tenant or any such guarantor makes an assignment for the benefit or creditors, or petitions for or enters into an arrangement, or suffer this Lease Agreement to be taken under any writ of execution, then in any such event Tenant shall be in default by Tenanthereunder, Landlord and Landlord, in addition to other rights or remedies it may have, shall have the option to pursue any one immediate right of re-entry and may remove all persons and property from the Premises and such property may be removed and stored in a public warehouse or more elsewhere at the cost of, and for the account of the following remedies Tenant, all without any additional service of notice or demand whatsoever: terminate this Leaseresort to legal process and without being guilty of trespass, in or becoming liable for any loss or damage which event Tenant shall immediately surrender may be occasioned thereby.
b. Should Landlord elect to re-enter the Leased Premises to LandlordPremises, and if Tenant fails to do so Landlord mayas herein provided, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and should it take possession of the Leased Premises pursuant to legal proceedings or pursuant to any notice provided for by law, it may either terminate this Lease Agreement or it may from time to time, without terminating this Lease Agreement, make such alterations and expel or remove Tenant and any other person who repairs as may be occupying necessary in order to relet the Leased Premises or any part thereofPremises, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of relet the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable upon such term or terms (which may be for prosecution a term extending beyond the Term of this Lease Agreement) and at such rental or any claim for damages therefor, with or without having terminated this Leaserentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable. In addition Upon each such subletting all rentals received by Landlord from such reletting shall be applied first to the payment of any indebtedness other remedies provided in this Leasethan rent due hereunder from Tenant to Landlord; second, and anything contained herein to the contrary notwithstandingpayment of any costs and expenses of such reletting, including brokerage fees and reasonable attorney’s fees and costs of such alterations and repairs; third, to the payment of the rent due and unpaid payment of future rent as the same may become due and payable hereunder. If such rentals received from such reletting during any month be less than that to be paid during that month by Tenant hereunder, Tenant, upon demand, shall pay any such deficiency to Landlord. No such re-entry or taking possession of the Premises by Landlord shall be construed as an election on its part to terminate this Lease Agreement unless a written notice of such intention is given to Tenant or unless the termination thereof is decreed by a court of competent jurisdiction. Notwithstanding any such reletting without termination, Landlord may at any time after such re-entry and reletting elect to terminate this Lease Agreement for any such breach, in addition to any other remedies it may have, it may recover from Tenant all damages it may incur by reason of such breach, including the cost of recovering the Premises, reasonable attorney’s fees, and including the worth at the time of such termination of the excess, if any, of the amount of rent and charges equivalent to rent reserved in this Lease Agreement for the remainder of the stated term, minus the amount of rental loss which Tenant proves could have been reasonably avoided, all of which amounts shall be immediately due and payable from Tenant to Landlord. Landlord shall also be entitled to restrain any other amounts necessary to compensate Landlord for all detriment proximately caused by Tenant’s failure to comply with the requirements of this Lease Agreement.
c. Landlord may, at its option, instead of exercising any other rights or remedies available to it in this Lease Agreement or otherwise by law, statute or equity, spend such money as is reasonably necessary to cure any default or violationof Tenant herein and the amount so spent, and costs incurred, including reasonable attorney’s fees in curing such default, shall be paid by Tenant, as Additional Rent, upon demand.
d. In the event suit shall be brought for recovery of possession of the Premises, for the recovery of rent of any other amount due under the provisions of this Lease Agreement, or attempted because of the breach of any other covenant herein contained on the part of Tenant to be kept or threatened default performed, and a breach shall be established, Tenant shall pay to Landlord all expenses incurred therefore, including a reasonable attorney’s fee, together with interest on all such expenses at the rate of ten percent (10%) per annum from the date of such breach of the covenants of this Lease Agreement.
e. Tenant hereby expressly waives any and all rights of redemption granted by or under any present or future laws in the event of Tenant being evicted or dispossessed for any cause, or in the event of Landlord obtaining possession of the Premises, by reason of the violation by Tenant of any of the terms, covenants, covenants or conditions or other provisions of this LeaseLease Agreement, or otherwise. Tenant also waives any demand for possession of the Premises, and any demand for payment of rent and any notice of intent to re-enter the Premises, or of intent to terminate this Lease Agreement, other than the notices above provided in this Article, and waives any and every other notice or demand prescribed by injunctionany applicable statues or laws.
f. No remedy herein or elsewhere in this Lease Agreement or otherwise by law, order of specific performance statute or other appropriate equitable relief. The remedies provided equity, conferred upon or reserved to Landlord hereunder are intended to or Tenant shall be exclusive of any other remedy, but shall be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right from time to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to time and as often as the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇occasion may arise.
Appears in 2 contracts
Sources: Commercial Lease (Celcuity LLC), Commercial Lease (Celcuity LLC)
Default of Tenant. Each The occurrence of any one or more of the following shall constitute a default by Tenant "Default of Tenant" under this Lease:
(a) The failure by Tenant fails to pay make any amount payment of Annual Fixed Rent, Additional Rent or any other payment required under this Lease to be made by Tenant hereunder (collectively, "Rent"), as and when the same becomes due and said due, where such failure is not cured within shall continue for ten (10) days after written notice thereof from LandlordLandlord to Tenant; provided, however, that any such notice shall be in lieu of, and not in addition to, any notice required under California Code of Civil Procedure §1161.
(b) The failure by Tenant fails to observe or perform any other term, condition, of the express or obligation under implied covenants or provisions of this Lease to be observed and said performed by Tenant, other than as specified in subsection (a) above, where such failure is not cured within shall continue for a period of thirty (30) days after written notice thereof from Landlord. Upon the occurrence of Landlord to Tenant; provided, however, that any such default by Tenant, Landlord notice shall have the option to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease, be in which event Tenant shall immediately surrender the Leased Premises to Landlordlieu of, and not in addition to, any notice required under California Code of Civil Procedure §1161; provided, further, that if the nature of Tenant's default is such that more than thirty (30) days are reasonably required for its cure, then Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be in default if Tenant shall commence such cure within such thirty (30) day period and thereafter diligently prosecute such cure to completion within sixty (60) days from the date of such notice from Landlord.
(c) An assignment by Tenant or any guarantor of Tenant for the benefit of creditors.
(d) The taking by execution or levy of Tenant's leasehold interest.
(e) The filing of a lien or other involuntary encumbrance against Tenant's leasehold interest or Tenant's other property, including said leasehold interest, or against the property of any guarantor of Tenant, which filing shall not be discharged within ten (10) days after Tenant receives notice thereof.
(f) The filing of a petition by Tenant or any guarantor of Tenant for liquidation, or for reorganization or an acceptance arrangement under any provision of any bankruptcy law or surrender code as then in force and effect.
(g) The filing of an involuntary petition under any of the Leased Premises provisions of any bankruptcy law or code against Tenant or any guarantor of Tenant and such involuntary petition shall not be dismissed within thirty (30) days thereafter.
(h) The appointment of a custodian, receiver or similar agent shall be authorized or appointed to take charge of all or substantially all of the assets of Tenant or any guarantor of Tenant.
(i) The dissolution or liquidation of Tenant or any guarantor of Tenant or the adoption of any plan or the commencement of any proceeding, the result of which is or is intended to include the dissolution or liquidation of Tenant or any guarantor of Tenant.
(j) The entry of an order in any proceeding by ▇▇▇▇▇▇, whether by agreement or by operation against Tenant or any guarantor of law, it being understood that such surrender can be affected only by Tenant decreeing or permitting the written agreement dissolution of Landlord and ▇▇▇▇▇▇Tenant or any guarantor of Tenant or the winding up of its affairs.
Appears in 2 contracts
Sources: Lease Agreement (Dexcom Inc), Lease Agreement (Dexcom Inc)
Default of Tenant. Each of It is mutually agreed that in the following shall constitute a default by Tenant under this Lease:
event: (a) the rent herein reserved is not paid at the time and place when and where due and Tenant fails to pay any amount required under this Lease as and when the same becomes due and said failure is not cured rent within ten five (105) days after written notice thereof demand from Landlord; or (b) Tenant fails will fail to perform comply with any other material term, provision, condition, or obligation under covenant of this Lease Lease, other than the payment of rent, and said will not cure such failure is not cured within thirty (30) days after written notice thereof to Tenant of such failure to comply or such additional time period as may reasonably be necessary to effect a cure of the default provided that Tenant commences and diligently pursues a cure of the default; or (c) Tenant causes any lien to be placed against the Premises and does not cure the same within thirty (30) days after notice from Landlord. Upon the occurrence Landlord to Tenant demanding cure, THEN in any of any such default by Tenantevents, Landlord shall will have the option to pursue do any one or more of the following remedies without following, in addition to, and not in limitation of any additional notice other remedy permitted by law or demand whatsoeverby this Lease: (i) Landlord may terminate this Lease, in which event Tenant shall will immediately surrender the Leased Premises to Landlord, . Tenant agrees to indemnify Landlord for all loss and if Tenant fails to do so Landlord may, without prejudice to any other remedy damage which Landlord may have for omission suffer by reason of such termination, whether through inability to relet the Premises, or arrearages through decrease in Rentrent, or otherwise; or (ii) Landlord, as Tenant's agent, without terminating this Lease, may terminate Tenant's right of possession, and, at Landlord's option, enter upon and take possession of rent the Leased Premises and expel or remove Tenant and any other person who may be occupying at the Leased Premises or any part thereofbest price obtainable by reasonable effort, without being advertisement and by private negotiations and for any term Landlord deems proper. Tenant will be liable to Landlord for prosecution or any claim of damages therefor; or enter upon the deficiency, if any, between Tenant's rent hereunder and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Leaseprice obtained by Landlord on reletting. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation Pursuit of any of the termsforegoing remedies will not preclude pursuit of any of the other remedies herein provided or any other remedies provided by law. In any case, covenants, conditions Landlord will use best efforts to mitigate Tenant's damages. Any notice in this provision may be given by Landlord or other provisions its attorney. No termination of this LeaseLease prior to the normal ending thereof, by injunctionlapse of time otherwise, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its will affect Landlord's right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect collect rent for the period prior to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇termination thereof.
Appears in 2 contracts
Sources: Lease Agreement (Hughes Supply Inc), Lease Agreement (Hughes Supply Inc)
Default of Tenant. Each of the following shall be deemed a default by Tenant (“Tenant Default” or a “Default”):
(a) Failure to pay the Net Rent, Capital Costs, Common Area Rent, Additional Rent or any other sums payable by Tenant hereunder as and when due and such default shall continue for a period of ten (10) calendar days after written notice from Landlord to Tenant. Notwithstanding the foregoing, if Tenant fails twice during any Lease Year to pay any Net Rent, Capital Costs, Common Area Rent, Additional Rent or other amount when due, then any subsequent failure to pay Net Rent, Capital Costs, Common Area Rent, Additional Rent or other amount when due during such Lease Year shall constitute a Tenant Default immediately upon occurrence, irrespective of whether or not Tenant has received written notice thereof.
(b) Failure to comply with any of the insurance requirements set forth in Section 10.1 or Exhibit 10.1 and such failure shall continue for a period of ten (10) calendar days after written notice from Landlord to Tenant.
(c) Failure to perform any act to be performed by Tenant hereunder or to comply with any provision, condition or covenant contained herein and such failure continues for more than thirty (30) calendar days after written notice of such failure is delivered to Tenant, or in the event of a default which cannot with due diligence be cured within such thirty (30) day period to commence to cure said default within thirty (30) days after such notice and to prosecute the curing of such default with due diligence and to complete the curing of said default within a reasonable time thereafter. Notwithstanding the foregoing, in the event Landlord determines that a Space Tenant or MOB Occupant is in violation of the use restrictions set forth in Section 5.1, Section 5.2, Section 5.3 or Section 5.7 hereof, Landlord shall deliver written notice thereof to Tenant, and Tenant shall not be deemed to be in default under this Lease provided that Tenant, immediately and in good faith, prosecutes with due diligence the resolution of a dispute as to whether Space Tenant is in violation of the use restrictions, and Tenant prosecutes the curing of such default immediately and with due diligence and completes such curing by eliminating or preventing such continued prohibited use within sixty (60) days after Landlord’s written notice.
(d) The filing by or against Tenant of a petition under the Bankruptcy Code, as amended, or under any similar law or statute of the United States or any State thereof (unless such petition is dismissed within sixty (60) days of the filing thereof); Tenant being adjudged bankrupt or insolvent in proceedings filed against Tenant thereunder; the making by Tenant of a general assignment for the benefit of creditors; Tenant’s taking the benefit of any insolvency action or law; the appointment of a permanent receiver or trustee in bankruptcy for Tenant or its assets; the appointment of a temporary receiver for Tenant or its assets if such temporary receivership has not been vacated or set aside within thirty (30) calendar days from the date of such appointment; the initiation of an arrangement or similar proceedings for the benefit of creditors by or against Tenant; or the dissolution or other termination of Tenant’s existence.
(e) Failure, after any applicable notice and cure period (i) to make payment when due, (ii) to perform any act to be performed by Tenant, or (iii) to comply with any provision, condition or amount contained in any Leasehold Mortgage or other instrument or agreement between Tenant and any Leasehold Mortgagee which constitutes a default under such Leasehold Mortgage or other instrument or agreement.
(f) The occurrence of any default by Tenant under any Approved Lease by and between Tenant and Landlord or an affiliate of Landlord, in each case beyond any applicable notice and cure period.
(g) Any other event expressly deemed to be a default by Tenant under this Lease:
(a) Tenant fails to pay any amount required under this Lease as and when the same becomes due and said failure is not cured within ten (10) days after written notice thereof from Landlord; (b) Tenant fails to perform any other term, condition, or obligation under this Lease and said failure is not cured within thirty (30) days after written notice thereof from Landlord. Upon the occurrence of any such default by Tenant, Landlord shall have the option to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇.
Appears in 2 contracts
Sources: Ground Lease Agreement (CNL Healthcare Properties, Inc.), Ground Lease Agreement (CNL Healthcare Properties, Inc.)
Default of Tenant. Each of the following shall constitute a default by Tenant under this Lease:
(a) (I) If Tenant fails shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any amount required other charges or amounts under this Lease as when due or shall default in complying with its obligations under Sections 4.4 and when the same becomes due 6.1.11 of this Lease and said failure is not cured within if any such default described in this subclause (I) shall continue for ten (10) days after written notice thereof from Landlord; (b) Tenant fails to perform any other term, conditionLandlord designating such default, or obligation under this Lease and said failure is not cured (II) if as promptly as possible but in any event within thirty (30) days after written notice thereof from Landlord. Upon Landlord to Tenant specifying any default or defaults other than those set forth in clause (I) Tenant has not cured the occurrence default or defaults so specified (provided that if Tenant is proceeding in good faith and with due diligence to complete the cure of any such default non-monetary performance breach which is curable but cannot reasonably be cured within thirty (30) days, such thirty (30) day period shall be extended for up to an additional ninety (90) days); or (b) if any assignment shall be made by Tenant for the benefit of creditors; or (c) if Tenant’s leasehold interest shall be taken on execution; or (d) if a lien or other involuntary encumbrance shall be filed against Tenant’s leasehold interest or Tenant’s other property, Landlord including said leasehold interest, and shall have the option to pursue not be discharged within ten (10) days thereafter; or (e) if a petition shall be filed by Tenant for liquidation, or for reorganization or an arrangement under any one provision of any bankruptcy law or more code as then in force and effect; or (f) if an involuntary petition under any of the following remedies without provisions of any additional notice bankruptcy law or demand whatsoever: terminate this Leasecode shall be filed against Tenant and such involuntary petition shall not be dismissed within thirty (30) days thereafter; or (g) if a custodian or similar agent shall be authorized or appointed to take charge of all or substantially all of the assets of Tenant; or (h) if Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation; or (i) if any order shall be entered in which event any proceeding by or against Tenant decreeing or permitting the dissolution of Tenant or the winding up of its affairs; or (j) if Tenant shall immediately surrender fail to pay any installment of Annual Fixed Rent or Additional Rent when due, Tenant shall cure such default within the Leased Premises grace period provided in clause (a) (I) above (or with Landlord’s approval after the expiration of such grace period) and Tenant shall, within the next year following the date such initial defaulted payment was first due, fail more than twice to Landlordpay any installment of Annual Fixed Rent or Additional Rent when due, then, and if Tenant fails to do so in any of such cases indicated in clauses (a) through (j) hereof (collectively and individually, a “Default of Tenant”), Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided and not in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter give notice to Tenant terminating this Lease and the termsterm hereof, covenantswhich notice shall specify the date of termination, conditions or other provisions whereupon on the date so specified, the term of this Lease, by injunction, order Lease and all of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, Tenant’s rights and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or privileges under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available this Lease shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord expire and ▇▇▇▇▇▇terminate but Tenant shall remain liable as hereinafter provided.
Appears in 2 contracts
Sources: Lease Agreement (Leap Therapeutics, Inc.), Lease Agreement (Leap Therapeutics, Inc.)
Default of Tenant. Each In the event of the following shall constitute a default by any failure of Tenant under this Lease:
(a) Tenant fails to pay any amount required under this Lease as and when the same becomes Base Rent, Additional Rent or other amounts due and said failure is not cured hereunder within ten five (105) days after written notice thereof from Landlord; (b) Tenant fails the same shall be due, or any failure to perform any other termof the terms, condition, conditions or obligation under covenants of this Lease and said failure is not cured within to be observed or performed by Tenant with all reasonable diligence, but in any event for more than thirty (30) days after written notice thereof from Landlord. Upon of such failure shall have been given to Tenant, or if Tenant or an agent of Tenant shall falsify any report required to be furnished to Landlord pursuant to the occurrence terms of this Lease, or if Tenant or any guarantor of this Lease shall become bankrupt or insolvent, or file any debtor proceedings, or any person shall file against Tenant or any guarantor of this Lease in any court pursuant to any statute either of the United States or of any state a petition in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Tenant’s or any such guarantor’s property, or if Tenant or any such guarantor makes an assignment for the benefit of creditors, or petitions for or enters into any similar arrangement, or if any guarantor of this Lease shall be in default in the performance of any covenant, duty or obligation under any guaranty or other agreement entered into with or in favor of Landlord and such default by Tenantshall remain uncured for a period of thirty (30) days or more after notice of such default, Landlord or if Tenant shall have abandon or vacate the option Demised Premises or suffer this Lease to pursue be taken under any writ of execution (any one or more of the following remedies without foregoing shall constitute an “Event of Default”), then in any additional notice or demand whatsoever: terminate this Lease, in which such event Tenant shall immediately surrender the Leased Premises to be in default hereunder, and Landlord, and if Tenant fails to do so Landlord may, without prejudice in addition to any other remedy which Landlord rights and remedies it may have, shall have for omission or arrearages in Rent, enter upon the immediate right of re-entry and take possession of may remove all persons and property from the Leased Demised Premises and expel or remove Tenant and any other person who such property may be occupying removed and stored in a public warehouse or elsewhere at the Leased Premises sole cost of, and for the account of Tenant, all without service of notice or any part thereof, resort to legal process and without being guilty of trespass, or becoming liable for prosecution any loss or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who damage which may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇occasioned thereby.
Appears in 2 contracts
Sources: Lease (Wireless Ronin Technologies Inc), Lease Agreement (Wireless Ronin Technologies Inc)
Default of Tenant. Each of the The following events shall constitute be a default by Tenant ▇▇▇▇▇▇ (a “Default”) under this Lease:
(a) 17.1.1 Failure of Tenant fails to pay any amount required under this Lease Rent as and when the same becomes due and said due; provided, however, no Default shall be deemed to have occurred unless such failure is not cured within ten continues for a period of five (105) business days after ▇▇▇▇▇▇’s receipt of written notice thereof from Landlord; (b) .
17.1.2 Failure of Tenant fails to comply with or perform any other term, condition, covenant or obligation of Tenant under this Lease and said (other than those concerning the payment of Rent, which shall be subject to Section 17.1.1 above), if the failure is not cured within continues for thirty (30) days after notice from Landlord to Tenant specifying the failure; provided, however if such default is not capable of being cured in such thirty (30) day period, such default shall not be a Default hereunder so long as Tenant promptly commences such cure during such 30-day period, and thereafter diligently prosecutes such cure to completion, but, subject to Force Majeure, in no event exceeding a period of time in excess of one hundred eighty (180) days after written notice thereof from Landlord. Upon to Tenant.
17.1.3 To the occurrence extent permitted by law, (i) Tenant being placed into receivership or conservatorship, or becoming subject to similar proceedings under Federal or State law unless the receiver or other remedy is not discharged within sixty (60) days, or (ii) a general assignment by Tenant for the benefit of creditors unless the assignment or other remedy is not discharged within sixty (60) days, or (iii) the filing by or against Tenant of any proceeding under an insolvency or bankruptcy law, unless in the case of such default by Tenanta proceeding filed against Tenant the same is dismissed within sixty (60) days, Landlord shall have or (v) the option appointment of a trustee or receiver to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of all or substantially all of the Leased Premises and expel assets of Tenant, unless the appointment, receiver or remove Tenant and other remedy is not discharged within sixty (60) days, or (vi) any execution or other person who may be occupying judicially authorized seizure of all or substantially all of Tenant's assets located upon the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided Tenant's interest in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. unless such seizure is discharged within sixty (60) days.
17.1.4 The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises failure by ▇▇▇▇▇▇▇ to observe or perform according to the provisions of Articles 15, whether by agreement or by operation 20 and 24 of law, it being understood that this Lease where such surrender can be affected only by the written agreement of Landlord and failure continues for more than ten (10) business days after ▇▇▇▇▇▇’s receipt of written notice from Landlord. All notices from Landlord to Tenant under this Lease shall be in addition to, and not in lieu of, notices required by Applicable Law and no such statutory notice may be sent until the notice periods in this Section 17.1.1 and 17.1.2 have expired.
Appears in 2 contracts
Sources: Lease Agreement (Gsi Technology Inc), Lease Agreement (Gsi Technology Inc)
Default of Tenant. Each of the following shall constitute a default by Tenant under this Lease:
(a) (I) If Tenant fails shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any amount required other charges or amounts under this Lease as when due or shall default in complying with its obligations under Subsection 6.1.11 of this Lease and when the same becomes due and said failure is not cured within ten if any such default shall continue for five (105) days after written notice thereof from Landlord; (b) Tenant fails to perform any other term, conditionLandlord designating such default, or obligation under this Lease and said failure is not cured (II) if as promptly as possible but in any event within thirty (30) days after written notice thereof from Landlord. Upon Landlord to Tenant specifying any default or defaults other than those set forth in clause (I) Tenant has not cured the occurrence default or defaults so specified; or (b) if any assignment shall be made by Tenant for the benefit of creditors; or (c) if Tenant’s leasehold interest shall be taken on execution; or (d) if a lien or other involuntary encumbrance shall be filed against Tenant’s leasehold interest or Tenant’s other property, including said leasehold interest, and shall not be discharged within ten (10) days thereafter; or (e) if a petition shall be filed by Tenant for liquidation, or for reorganization or an arrangement under any provision of any bankruptcy law or code as then in force and effect; or (f) if an involuntary petition under any of the provisions of any bankruptcy law or code shall be filed against Tenant and such involuntary petition shall not be dismissed within thirty (30) days thereafter; or (g) if a custodian or similar agent shall be authorized or appointed to take charge of all or substantially all of the assets of Tenant or (h) if Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation; or (i) if any order shall be entered in any proceeding by or against Tenant decreeing or permitting the dissolution of Tenant or the winding up of its affairs; or (j) if Tenant shall fail to pay any installment of Annual Fixed Rent or Additional Rent when due, Tenant shall cure such default by Tenantwithin the grace period provided in clause (a) (I) above (or with Landlord’s approval after the expiration of such grace period) and Tenant shall, Landlord shall have within the option next year following the date such initial defaulted payment was first due, fail more than once to pursue pay any one installment of Annual Fixed Rent or more of the following remedies without any additional notice or demand whatsoever: terminate this LeaseAdditional Rent when due, in which event Tenant shall immediately surrender the Leased Premises to Landlordthen, and if Tenant fails to do so in any of such cases indicated in clauses (a) through (j) hereof (collectively and individually, a “Default of Tenant”), Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter (x) give notice to Tenant terminating this Lease and/or the term hereof, which notice shall specify the date of such termination, whereupon on the date so specified, the term of this Lease and all of Tenant’s rights and privileges under this Lease shall expire and terminate or (y) without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon terminating this Lease terminate Tenant’s right of possession and/or occupancy and reenter and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises notice and expel or remove Tenant and any other person who may be occupying the Leased Premises or party claiming under Tenant and remove any part thereof of their effects, without being liable for prosecution on account thereof, whether in trespass or any claim for damages thereforbreach or covenant or otherwise, with (and no such reentry or without having terminated taking possession shall be construed as an election by Landlord to terminate this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Lease unless Landlord shall be entitled affirm such election by notice expressly to restrain any default or violationsuch effect), or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord but in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available either case Tenant shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇remain liable as hereinafter provided.
Appears in 2 contracts
Sources: Lease Agreement (RMR Group Inc.), Lease Agreement (Reit Management & Research Inc.)
Default of Tenant. Each The occurrence of any one or more of the following shall constitute a default by Tenant "Default of Tenant" under this Lease:
(a) The failure by Tenant fails to pay make any amount payment of Annual Fixed Rent, Additional Rent or any other payment required under this Lease to be made by Tenant hereunder (collectively, "Rent"), as and when the same becomes due and said due, where such failure is not cured within ten shall continue for seven (107) days after written notice thereof from LandlordLandlord to Tenant; provided, however, that any such notice shall be in lieu of, and not in addition to, any notice required under California Code of Civil Procedure Section 1161.
(b) The failure by Tenant fails to observe or perform any other term, condition, of the express or obligation under implied covenants or provisions of this Lease to be observed and said performed by Tenant, other than as specified in subsection (a) above, where such failure is not cured within shall continue for a period of thirty (30) days after written notice thereof from Landlord. Upon the occurrence of Landlord to Tenant; provided, however, that any such default by Tenant, Landlord notice shall have the option to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease, be in which event Tenant shall immediately surrender the Leased Premises to Landlordlieu of, and not in addition to, any notice required under California Code of Civil Procedure Section 1161; provided, further, that if the nature of Tenant's default is such that more than thirty (30) days are reasonably required for its cure, then Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be in default if Tenant shall commence such cure within such thirty (30) day period and thereafter diligently prosecute such cure to completion within sixty (60) days from the date of such notice from Landlord.
(c) An assignment by Tenant or any guarantor of Tenant for the benefit of creditors.
(d) The taking by execution or levy of Tenant's leasehold interest.
(e) The filing of a lien or other involuntary encumbrance against Tenant's leasehold interest or Tenant's other property, including said leasehold interest, or against the property of any guarantor of Tenant, which filing shall not be discharged within thirty (30) days after Tenant receives notice thereof.
(f) The filing of a petition by Tenant or any guarantor of Tenant for liquidation, or for reorganization or an acceptance arrangement under any provision of any bankruptcy law or surrender code as then in force and effect.
(g) The filing of an involuntary petition under any of the Leased Premises provisions of any bankruptcy law or code against Tenant or any guarantor of Tenant and such involuntary petition shall not be dismissed within sixty (60) days thereafter.
(h) The appointment of a custodian, receiver or similar agent shall be authorized or appointed to take charge of all or substantially all of the assets of Tenant or any guarantor of Tenant.
(i) The dissolution or liquidation (except in connection with a transaction permitted pursuant to the second paragraph of Section 6.14) of Tenant or any guarantor of Tenant or the adoption of any plan or the commencement of any proceeding, the result of which is or is intended to include the dissolution or liquidation of Tenant or any guarantor of Tenant.
(j) The entry of an order in any proceeding by ▇▇▇▇▇▇or against Tenant or any guarantor of Tenant decreeing or permitting the dissolution of Tenant or any guarantor of Tenant or the winding up of its affairs.
(k) The occurrence of a default by Tenant under the Other Lease, whether by agreement or by operation Tenant hereby also agreeing that a Default of lawTenant under this Lease shall be deemed a default of Tenant under the Other Lease, it being understood that such surrender can be affected only by affording Landlord all of the written agreement remedies available under Section 15 B of Landlord and ▇▇▇▇▇▇the Other Lease.
Appears in 2 contracts
Sources: Lease Agreement (Signal Pharmaceuticals Inc), Lease Agreement (Signal Pharmaceuticals Inc)
Default of Tenant. 21.1 Each of the following shall constitute a default by Tenant under this Lease:
an Event of Default: (a) Tenant fails Tenant's failure timely to pay make any amount required under this Lease as and when payment of the same becomes due and said failure is not cured Base Rent, Additional Rent or any other sum within ten five (105) days after written notice thereof from Landlord; (b) Tenant fails Tenant's violation or failure to perform or observe any other term, covenant or condition, which violation or obligation under this Lease and said failure is not cured within continues for a period of thirty (30) days after written notice thereof from Landlord. Upon the occurrence , or if such violation or failure is remediable but is of any such default by a nature that it cannot be remedied within such thirty (30) day period, then for such longer period (not to exceed sixty (60) days) as may reasonably be required, provided that Tenant promptly commences and diligently pursues such remedy to completion; (c) an Event of Bankruptcy as specified in Article XXII with respect to Tenant, any general partner of Tenant (a "General Partner") or any Guarantor; or (d) Tenant's dissolution or liquidation.
21.2 If there shall be an Event of Default, including an Event of Default prior to the Lease Commencement Date, then Landlord shall have the option right, at its sole option, to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease. In addition, in which event Tenant shall immediately surrender the Leased Premises to Landlordwith or without terminating this Lease, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rentre-enter, enter upon terminate Tenant's right of possession and take possession of the Leased Premises and expel or remove Tenant and Premises. The provisions of this Article shall operate as a notice to quit, any other person who notice to quit or of Landlord's intention to re-enter the Premises being hereby expressly waived. If necessary, Landlord may proceed to recover possession of the Premises under and by virtue of the laws of the District of Columbia, or by such other proceedings, including re-entry and possession, as may be occupying applicable. If Landlord elects to terminate this Lease and/or elects to terminate Tenant's right of possession, then everything contained in this Lease to be done and performed by Landlord shall cease, without prejudice, however, to Landlord's right to recover from Tenant all rent and other sums due under the Leased terms and conditions of this Lease as set forth below. Whether or not this Lease and/or Tenant's right of possession is terminated, Landlord may, but shall not be obligated to, relet the Premises or any part thereof, without being alone or together with other premises, for such rent and upon such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for, nor shall Tenant's obligations be diminished by reason of, Landlord's failure to relet the Premises or collect any rent due upon such reletting. Whether or not this Lease is terminated, Tenant nevertheless shall remain liable for prosecution any Base Rent, Additional Rent or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who which may be occupying due or sustained prior to such default, all costs, fees and expenses (including without limitation reasonable attorneys' fees, brokerage fees, expenses incurred in placing the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition in a similar rentable condition and tenant finish necessitated to obtain the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised new tenant) incurred by Landlord in pursuit of its remedies and in renting the Premises to others from time to time. Tenant shall also be liable for additional damages which at Landlord's election shall be either:
(a) an amount equal to the Base Rent and additional rent which would have become due during the remainder of the Lease Term, less the amount of rental, if any, which Landlord receives during such period from others to whom the Premises may be rented (other than any orderAdditional Rent payable as a result of any failure of such other person to perform any of its obligations), which damages shall be computed and payable in monthly installments, in advance, on the first day of each calendar month following Tenant's default and continuing until the date on which the Lease Term would have expired but for Tenant's default, Separate suits may be brought to collect any such damages for any month(s), and such suits shall not in any manner prejudice Landlord's right to collect any such damages for any subsequent month(s), or simultaneouslyLandlord may defer any such suit until after the expiration of the Lease Term, without such exercise being a waiver in which event the cause of action shall be deemed not to have accrued until the expiration of the Lease Term: or
(b) an amount equal to the Present Value Damages. "Present Value Damages" shall be an amount equal to the present value (as of the date of Tenant's default) of the difference between (i) the Base Rent and Additional Rent which would have become due through the date on which the Lease Term would have expired but for Tenant's default and (ii) the fair market rental value (as reasonably determined by Landlord Landlord) that would be derived from the reletting of its right to exercise any other remedy granted the Premises for the same period, which Present Value Damages shall be payable to Landlord hereunder in a lump sum on demand. For purpose of this Section, present value shall be computed by discounting at a rate equal to one (1) whole percentage point above the discount rate then in effect at the Federal Reserve Bank of New York. Tenant waives any right of redemption, re-entry or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender restoration of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of this Lease under any present or future law, it being understood that including any such surrender can right which Tenant would otherwise have if Tenant shall be affected only by the written agreement of Landlord and ▇▇▇▇▇▇dispossessed for any cause.
Appears in 1 contract
Sources: Office Lease (Identix Inc)
Default of Tenant. Each a. In the event of the following shall constitute a default by any failure of Tenant under this Lease:
(a) Tenant fails to pay any amount required under this Lease as and when the same becomes rental due and said failure is not cured within ten hereunder with five (105) days after written notice thereof from Landlord; (b) Tenant fails of such failure shall have been given to Tenant, or any failure to perform any other termterms, condition, conditions or obligation under covenants of this Lease and said failure is not cured within to be observed or performed by Tenant for more than thirty (30) days after written notice thereof from Landlord. Upon of such failure shall have been given to Tenant, or if Tenant or an agent of Tenant shall knowingly falsify any report required to be furnished to Landlord pursuant to the occurrence terms of this Lease, or if Tenant shall file any debtor proceedings or any person shall take or have against Tenant in any court pursuant to any statute either of the United States or of any state a petition in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Tenant’s property and such petition is not dismissed within sixty (60) days of the date Tenant receives notice of the same, or if Tenant makes an assignment for the benefit of creditors, or if Tenant shall abandon the Demised Premises without adequately providing for the protection thereof, then in any such event Tenant shall be in default by Tenanthereunder, Landlord and Landlord, in addition to other rights of remedies it may have, shall have the option to pursue any one immediate right of re-entry and may, by process of law only, remove all persons and property from the Demised Premises and such property may be removed and stored in a public warehouse or more of elsewhere at the following remedies without any additional notice or demand whatsoever: terminate this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlordcost of, and if Tenant fails to do so Landlord mayfor the account of Tenant, without prejudice being guilty of trespass, or becoming liable for any loss or damage which may be occasioned thereby.
b. Should Landlord elect to any other remedy which Landlord may have for omission re-enter the Demised Premises, as herein provided, or arrearages in Rent, enter upon and should it take possession of the Leased Demised Premises pursuant to legal proceedings or pursuant to any notice provided for by law, it may either terminate this Lease or it may from time to time, without terminating this Lease, make such alterations and expel or remove Tenant and any other person who repairs as may be occupying necessary in order to relet the Leased Premises or any part thereofDemised Premises, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of relet the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Demised Premises or any part thereof without being liable for prosecution such term or any claim terms (which may be for damages therefor, with or without having terminated a term extending beyond the Term of this Lease) and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable. In addition Upon each such subletting all rentals received by the Landlord from such reletting shall be applied first to the payment of any indebtedness other remedies provided in this Leasethan rent due hereunder from Tenant to Landlord; second, to the payment of any costs and expenses of such reletting, including brokerage fees and attorney’s fees and costs of such alterations and repairs; third, to the payment of the rent due and unpaid hereunder, and anything contained herein the residue, if any shall be held by Landlord and applied in payment of future rent as the same may become due and payable hereunder. If such rentals received from such reletting during any month be less than that to be paid during that month by Tenant hereunder, Tenant, upon demand, shall pay any such deficiency to Landlord. No such re- entry or taking possession of the contrary notwithstanding, Demised Premises by Landlord shall be entitled construed as an election on its part to restrain terminate this Lease unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding any such reletting without termination, Landlord may at any time after such re-entry and reletting elect to terminate this Lease for such previous breach. Should Landlord at any time terminate this Lease for any such breach, in addition to any other remedies it may have, it may recover from Tenant all damages it may incur by reason of such breach, including the cost of recovering the Demised Premises, attorney’s fees, and costs, the unamortized portion of any leasehold improvements made by Landlord for Tenant and including the worth at the time of such termination of the excess, if any, of the amount of rent and charges equivalent to rent reserved in this Lease for the remainder of the stated term over the then reasonable rental value of the Demised Premises (including all charges equivalent to rent) for the remainder of the stated term, all of which amounts shall be immediately due and payable from Tenant to Landlord.
c. Landlord may, at its option, instead of exercising any other rights or remedies available to it in this Lease or otherwise by law, statute or equity, spend such money as is reasonably necessary to cure any default or violationof Tenant herein and the amount so spent, or attempted or threatened default or violation and costs incurred, including attorney’s fees in curing such default, shall be paid by Tenant, as additional rent, upon demand.
d. In the event suit shall be brought for recovery of any possession of the termsDemised Premises, covenants, conditions for the recovery of rent or any other amount due under the provisions of this Lease, by injunctionor because of the breach of any other covenant herein contained on the part of the Tenant to be kept or performed, order of specific performance or other appropriate equitable relief. The remedies provided and a breach shall be established, Tenant shall pay to Landlord hereunder are intended all expenses incurred therefore, including attorney’s fees and costs, together with interest on all such expenses at the rate of ten percent (10%) per annum.
e. Tenant hereby expressly waives any and all rights of redemption granted by or under any present or future laws in the event of Tenant being evicted or dispossessed for any cause, or in the event of Landlord obtaining possession of the Demised Premises, by reason of any default hereunder, or otherwise. Tenant also waives any demand for possession of the Demised Premises, and any demand for payment of rent and any notice of intent to re-enter the Demised Premises, or of intent to terminate this Lease, other than the notices above provided in this Article, and any other notice or demand prescribed by any applicable statutes or laws.
f. No remedy herein or elsewhere in this Lease or otherwise by law, statute or equity, conferred upon or reserved to Landlord or Tenant shall be exclusive of any other remedy, but shall be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right from time to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to time and as often as the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇occasion may arise.
Appears in 1 contract
Sources: Commercial Lease (Vyant Bio, Inc.)
Default of Tenant. Each of the following shall constitute a default by Tenant under this Lease:
(a) (i) If Tenant fails shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any amount required other charges under this Lease as when due or shall default in complying with its obligations under Subsection 6.1.10 of this Lease and when the same becomes due and said failure is not cured within if any such default shall continue for ten (10) days Business Days after written notice thereof from Landlord; (b) Tenant fails to perform any other term, conditionLandlord designating such default, or obligation under this Lease and said failure is not cured (ii) if as promptly as possible but in any event within thirty (30) days after written notice thereof from Landlord. Upon Landlord to Tenant specifying any default or defaults other than those set forth in clause (i) Tenant has not cured the occurrence default or defaults so specified (or, if such failure cannot be cured within such thirty (30) day period, Tenant fails within such thirty (30) day period to commence, and thereafter diligently proceed with, all actions necessary to cure such failure as soon as reasonably possible); or (b) if Tenant’s leasehold interest shall be taken on
(c) if a lien or other involuntary encumbrance shall be filed against the Premises, and shall not discharged within sixty (60) days thereafter; or (d) if a petition shall be filed by Tenant for liquidation, or for reorganization or an arrangement under any provision of any such default by Tenant, Landlord shall have the option to pursue bankruptcy law or code as then in force and effect; or (e) if an involuntary petition under any one or more of the following remedies without provisions of any additional notice bankruptcy law or demand whatsoever: terminate this Leasecode shall be filed against Tenant and such involuntary petition shall not be dismissed within sixty (60) days thereafter; or (f) if a custodian or similar agent shall be authorized or appointed to take charge of all or substantially all of the assets of Tenant and such authorization is not rescinded within sixty (60) days thereafter, or (g) if Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation, or (i) if any order shall be entered in which event any proceeding by or against Tenant shall immediately surrender decreeing or permitting the Leased Premises to Landlorddissolution of Tenant or the winding up of its affairs, then, and if Tenant fails to do so in any of such cases indicated in clauses (a) through (g) hereof (collectively and individually, a “Default of Tenant”), Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided and not in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter, give notice to Tenant terminating the termsterm hereof, covenantswhich notice shall specify the date of such termination, conditions or other provisions whereupon on the date so specified, the term of this Lease, by injunction, order Lease and all of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, Tenant’s rights and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or privileges under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available this Lease shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord expire and ▇▇▇▇▇▇terminate.
Appears in 1 contract
Default of Tenant. Each a. In the event of the following shall constitute a default by any failure of Tenant under this Lease:
(a) Tenant fails to pay any amount required under this Lease as and when the same becomes rental due and said failure is not cured hereunder within ten (10) days after written notice thereof from Landlord; (b) Tenant fails the same becomes due or any failure to perform any other termterms, condition, conditions or obligation under covenants of this Lease and said failure is not cured within to be observed or performed by Tenant for more than thirty (30) days after written notice thereof from Landlord. Upon the occurrence of any such default by failure shall have been given to Tenant, or if Tenant or an agent of Tenant shall intentionally falsify any report required to be furnished to Landlord shall have pursuant to the option to pursue any one or more terms of the following remedies without any additional notice or demand whatsoever: terminate this Lease, or if Tenant or any guarantor of this Lease shall become bankrupt or insolvent, or file any debtor proceedings or any person shall take or have against Tenant or any guarantor of this Lease in which any court pursuant to any statute either of the United States or of any state a petition in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Tenant’s or any such guarantor’s property, or if Tenant or any such guarantor’s property, or if Tenant or any such guarantor makes an assignment for the benefit of creditors, or if Tenant shall suffer this Lease to be taken under any writ of execution, then in any such event Tenant shall immediately surrender the Leased Premises to be in default hereunder, and Landlord, in addition to other rights or remedies it may have, shall have, upon receipt of an order so stating from a court of competent jurisdiction, the immediate right of re-entry and if Tenant fails to do so Landlord maymay in such event remove all persons and property from the Demised Premises and such property may be removed and stored in a public warehouse or elsewhere at the cost of, and for the account of Tenant, without prejudice being guilty of trespass.
b. Should Landlord elect to any other remedy which Landlord may have for omission re-enter the Demised Premises, as herein provided, or arrearages in Rent, enter upon and should it take possession of the Leased Demised Premises pursuant to legal proceedings, it may either terminate this Lease or it may from time to time, without terminating this Lease, make such alterations and expel or remove Tenant and any other person who repairs as may be occupying necessary in order to relet the Leased Premises or any part thereofDemised Premises, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of relet the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Demised Premises or any part thereof without being liable for prosecution such term or any claim terms (which may be for damages therefor, with or without having terminated a term extending beyond the term of this Lease) and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable. In addition such event Landlord shall undertake reasonable efforts to mitigate damages, it being understood and agreed that reasonable efforts by the Landlord do not include the expenditure of funds by Landlord for which reimbursement by Tenant has not been made or assured or the reletting of the Demised Premises in lieu of other available premises owned by the Landlord or its owners and affiliates. Upon each such subletting all rentals received by the Landlord from such reletting shall be applied first to the payment of any indebtedness other remedies provided in than rent due hereunder from Tenant to Landlord; second, to the payment of that portion of any costs and expenses of such reletting amortized over the initial term of the successor lease which is allocable to the remainder of the remaining Term of this Lease, including reasonable brokerage fees and anything contained herein reasonable attorney’s fees and costs of alterations and repairs made to the contrary notwithstandingDemised Premises in connection with such reletting., third, to the payment of the rent due and unpaid hereunder, and the residue, if any shall be held by Landlord and applied in payment of future rent as the same may become due and payable hereunder. If such rentals received from such reletting during any month be less than that to be paid during that month by Tenant hereunder, Tenant, upon demand, shall pay any such deficiency to Landlord. No such re-entry or taking possession of the Demised Premises by Landlord shall be entitled construed as an election on its part to restrain terminate this Lease unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding any such reletting without termination, Landlord may at any time after such re-entry and reletting elect to terminate this Lease for such previous breach. Should Landlord at any time terminate this Lease for any such breach, in addition to any other remedies it may have, it may recover from Tenant all damages (excluding indirect or consequential damages) it may incur by reason of such breach, including the cost of recovering the Demised Premises, reasonable attorney’s fees and costs incurred in enforcing Landlord’s remedies hereunder, the unamortized portion of any leasehold improvements made by Landlord for Tenant and including the worth at the time of such termination of the excess, if any, of the amount of rent and charges equivalent to rent reserved in this Lease for the remainder of the stated term over the then reasonable rental value of the Demised Premises for the remainder of the stated term, all of which amounts shall be immediately due and payable from Tenant to Landlord subject to a reasonable present value discount at the “prime” or “reference” rate then announced at W▇▇▇▇ Fargo Bank, N.A., Minneapolis office, or its successors and assigns (the “Prime Rate”).
c. Landlord may, at its option, instead of exercising any other rights or remedies available to it in this Lease or otherwise by law, statute or equity, spend such money as is reasonably necessary to cure any default or violationof Tenant herein and the amount so spent, or attempted or threatened default or violation and costs incurred, including reasonable attorney’s fees in curing such default, shall be paid by Tenant, as additional rent, upon demand.
d. In the event suit shall be brought for recovery of any possession of the termsDemised Premises, covenants, conditions for the recovery of rent or any other amount due under the provisions of this Lease, by injunctionor because of the breach of any other covenant herein contained on the part of the Tenant to be kept or performed, order of specific performance or other appropriate equitable relief. The remedies provided and a breach shall be established, Tenant shall pay to Landlord hereunder are intended all reasonable expenses incurred therefor, including reasonable attorney’s fees and costs, together with interest on all such expenses at the rate of four percent (4%) per annum in excess of the Prime Rate (the “Default Rate”) from the date of such breach of the covenants of this Lease.
e. In the event of a default by Tenant hereunder, except as otherwise expressly provided herein, Tenant waives any demand for possession of the Demised Premises, and any demand for payment of rent and any notice of intent to re-enter the Demised Premises, or of intent to terminate this Lease, other than the notices above provided in this Article, and any other notice or demand prescribed by any applicable statutes or laws.
f. No remedy herein or elsewhere in this Lease or otherwise by law, statute or equity, conferred upon or reserved to Landlord or Tenant shall be exclusive of any other remedy, but shall be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right from time to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to time and as often as the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇occasion may arise.
Appears in 1 contract
Sources: Commercial Lease (Thoratec Corp)
Default of Tenant. Each of the following shall constitute a default by 22.1 If Tenant under this Lease:
(a) Tenant fails should fail to pay any amount part of the rentals herein provided, or any other sum required under by this Lease as to be paid to Landlord at the time or in the manner provided herein, for a period of twenty (20) days after receipt by Tenant of written notice from Landlord, or if default should be made in any of the other covenants, terms or provisions to be performed by Tenant hereunder and when such default should continue for a period of forty-five (45) days following receipt of written notice thereof from Landlord to Tenant, or should Tenant's interest herein be terminated or assigned by operation of law or otherwise, including, without limitation, the same becomes filing of a petition by or against Tenant (or any member of Tenant if Tenant is a partnership or joint venture) under any insolvency or bankruptcy act, or should Tenant make a general assignment for the benefit of creditors, or if Tenant should become insolvent, or if Tenant should vacate or abandon the Premises, Landlord shall have all rights and remedies it may have hereunder or at law or in equity.
22.2 In the event Landlord shall fail to receive any installment of rent or any other sum due and said failure is not cured hereunder within ten (10) days after written notice thereof from Landlordsuch payment is due, Tenant shall pay to Landlord a late charge in an amount equal to twenty percent (20%) of such payment; and the failure to pay such sums due and the late charge as described herein, within twenty (b) Tenant fails to perform any other term, condition, or obligation under this Lease and said failure is not cured within thirty (3020) days after written notice thereof from demand therefor shall be an event of default hereunder. The provision for such late charge shall be in addition to all of Landlord. Upon the occurrence 's other rights and remedies hereunder or at law, and shall not be construed as liquidated damages or as limiting Landlord's remedies in any manner.
22.3 No act or conduct of any such default by TenantLandlord, Landlord shall have the option to pursue any one or more whether consisting of the following remedies without any additional notice or demand whatsoever: terminate this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession acceptance of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition keys to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violationPremises, or attempted or threatened default or violation of any of the termsotherwise, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be or constitute an acceptance or of the surrender of the Leased Premises by ▇▇▇▇▇▇Landlord prior to the expiration of the term hereof, whether and such acceptance by agreement Landlord of surrender by Tenant shall only be effected, and must be evidenced, by written acknowledgment of acceptance of surrender signed by Landlord. In the event the Premises are relet at a rental which exceeds that owing from Tenant herein, Tenant expressly agrees that Tenant, its successors, assigns and representatives have no claim to or by operation interest in the said profit, and that the said profit is properly owing solely to Landlord as Landlord's agreed, stated and liquidated fees, costs, expenses and compensation incurred or owing as a result of lawLandlord's efforts in connection with the reletting of the leased premises to mitigate Tenant's damages as a result of Tenant's default, it being understood that such surrender can be affected only by the written agreement but do not constitute Landlord's liquidated damages of Landlord and ▇▇▇▇▇▇Tenant's whole default.
Appears in 1 contract
Default of Tenant. Each (a) If the Tenant defaults in fulfilling any of the following shall constitute a default by Tenant Tenant's obligations under this Lease:, other than the covenants for the payment of Rent or if the Premises become vacant or deserted or if the Premises arc damaged by reason of negligent or willful acts of the Tenant or the Tenant's employees, agents, licensees or invitees, the Landlord may serve written notice upon the Tenant specifying the nature of said default. Upon the expiration of ten (I 0) days following the giving of such notice, if the Tenant
(ai) Tenant fails has failed to pay any amount required under this Lease as and when cure such default or
(ii) in the same becomes due and said failure is case of a default which by its nature cannot be completely cured within said ten (10) days after day period, does not deliver to the Landlord assurances reasonably satisfactory to the Landlord that the Tenant will promptly cure such default and if the Tenant does not thereafter within a reasonable time period cure such default, then the Landlord may serve a written notice thereof from Landlord; of termination of this Lease upon Tenant, this Lease shall terminate on the Tenant's receipt of such notice, and the Tenant shall then quit and surrender the Premises to the Landlord but the Tenant shall remain liable as herein provided until Landlord either occupies the Premises or lets the Premises to a third party. Landlord shall use its best efforts to relet the Premises promptly.
(b) The First time during any twelve (12) month period that the Tenant fails defaults in the' payment of Rent the Landlord shall provide Tenant ten (I 0) days' written notice of such default. Unless Landlord receives such Rent payment within ten (1O) days, the Landlord shall apply the Deposit to perform any other termsatisfy the delinquent Rent obligation- If the remaining Deposit is insufficient to satisfy such obligation in full, conditionLandlord may, or obligation upon ten (10) days' prior written notice, give notice of default under this Lease and said failure is not the Tenant shall, at Landlord's election. quit and surrender the Premises to the Landlord, but the Tenant shall remain liable as hereinafter provided. If Tenant has cured within thirty (30) days after written notice thereof from Landlord. Upon the occurrence of any such default Rent delinquency, or if the delinquency has been cured by Tenant, Landlord shall have the option to pursue any one or more application of the following remedies without any additional notice or demand whatsoever: terminate this LeaseDeposit, but Tenant is again delinquent in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession payment of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to Rent during the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇.twelve
Appears in 1 contract
Default of Tenant. Each of the following shall constitute a default by Tenant under this Lease:
(a) In the event (i) of any failure of Tenant fails to pay any amount required under this Lease as and when the same becomes rental or other charges due and said failure is not cured within hereunder for more than ten (10) business days after written notice of such default shall have been received by Tenant; or (ii) of any failure to perform any other of the terms, conditions or covenants of this Lease (other than the covenants for the payment of rent) to be observed or performed by Tenant, including without limitation the failure of Tenant to maintain in effect any licence or permit necessary for the use, occupancy or operation in the Demised Premises in accordance with this Lease or a breach of Section 4 of this Lease concerning Tenant’s use of the Demised Premises, for more than twenty (20) days after written notice thereof from Landlord; (b) Tenant fails to perform any other term, condition, or obligation under this Lease and said failure is not cured within thirty (30) days after written notice thereof from Landlord. Upon the occurrence of any such default by Tenant, Landlord shall have the option to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease, in which event been received by Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained (unless a shorter period is specified herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to a specific failure); provided, however, that if the same default. Exercise by Landlord curing of any one such default shall reasonably require in excess of 20 days, Tenant shall not be deemed in default hereunder if Tenant shall commence to cure such default within such 20 days period and thereafter diligently prosecutes such cure to completion or more remedies hereunder granted or otherwise available (iii) Tenant shall abandon the Demised Premises prior to the last three (3) months of the term (provided that Tenant’s mere vacating of the Demised Premises shall not be deemed to be abandonment provided that Tenant continues to pay rent and perform all obligations under this Lease) or permits this Lease to be taken under any writ of execution; or (iv) Tenant assigns, mortgages, sublets, encumbers or in any manner transfers the Demised Premises or its interest in the Lease without Landlord’s consent; or (v) Tenant makes an acceptance assignment for the benefit of creditors, allows any petition under the bankruptcy law, or surrender the appointment of a trustee or receiver of Tenant, or its assets, or the estate created hereby shall be taken in execution or by other process of law or Tenant shall be adjudicated insolvent or bankrupt pursuant to the provisions of any state or federal insolvency or bankruptcy act, or if a receiver or trustee of the Leased Premises property of Tenant shall be appointed by ▇▇▇▇▇▇reason of the insolvency or inability of Tenant to pay its debts, whether or if any assignment shall be made of the property of Tenant for the benefit of creditors; or (vi) Tenant shall be liquidated or dissolved or shall begin proceedings towards its liquidation or dissolution, then, unless such failure is caused directly or indirectly by agreement the failure of the Landlord to provide the services under Section 28 hereof, the Oshawa Labour and Management Services Agreement or the ASA, or by operation the performance or non-performance of employees of the Landlord pursuant to Section 4(f) hereof, Landlord, besides other rights or remedies it may have, shall have the right to declare this Lease terminated and the term ended and/or shall have the immediate right of re-entry and may remove all persons and property from the Demised Premises and such property may be removed and stored in a public warehouse or elsewhere at the cost of, and for the account of Tenant, without evidence, of notice or resort to legal process and without being deemed guilty of trespass, or becoming liable for any loss or damage which may be occasioned thereby.
(b) Should Landlord elect to re-enter, as herein provided, or should it take possession pursuant to legal proceedings or pursuant to any notice provided by law, it being understood that may either terminate this Lease or it may from time to time, without terminating this Lease, make such surrender can alternations and repairs as may be affected only necessary in order to relet the Demised Premises, and relet the Demised Premises or any part thereof for such term or terms (which may be for a term extending beyond the term of this Lease) and as such rental or rentals and upon such other terms and conditions as Landlord in its sole and absolute discretion may deem advisable. Upon each such reletting all rentals and other sums received by Landlord from such reletting shall be applied, first, to the written agreement payment of any indebtedness other than rent due hereunder from Tenant to Landlord; second, to the payment of any reasonable costs and expenses of such reletting, including reasonable brokerage fees and attorneys’ fees and of reasonable costs of such alterations and repairs; third, to the payment of rent and other changes due and unpaid hereunder; and the residue, if any, shall be held by Landlord and ▇▇▇▇▇▇applied in payment of future rent as the same may become due and payable hereunder. If such rentals and other sums received from such reletting during any month be less than that to be paid during that month by tenant hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall in no event be entitled to any rent collected or payable upon any reletting, whether or not such rent shall exceed the rent reserved in this Lease. No such re-entry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding any such reletting without termination, Landlord may at any time hereafter elect to terminate this Lease for such previous breach. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedies it may have, it may recover from Tenant all damages it may incur by reason of such breach, including the cost of recovering the Demised Premises, and reasonable attorneys’ fees.
(c) In case suit shall be brought for recovery of possession of the Demised Premises, for the recovery of rent or any other amount due under the provisions of this Lease, or because of the breach of any other covenant herein contained on the part of either party to be kept or performed, and a breach shall be established, the losing party shall pay to the prevailing party all expenses incurred therefor, including reasonably attorney’s, consultant’s and expert’s fees.
(d) Notwithstanding anything herein contained to the contrary, if Tenant shall be in default in the performance of any of the terms or provisions of this Lease and if Landlord shall give to Tenant notice in writing of such default specifying the nature thereof, and it Tenant shall fail to cure such default within the time provided in Section 21 (a) hereof or immediately if such default requires emergency action, Landlord may, in addition to its other legal and equitable remedies, cure such default for the account of and at the costs and expense of Tenant, and the sums so expended by Landlord, including reasonable legal fees, shall be deemed to be additional rent and shall be paid by Tenant on the day when Basic Rent shall next become due and payable.
Appears in 1 contract
Default of Tenant. Each of In the following shall constitute a default by Tenant under this Lease:event that: -----------------
(a) Tenant fails to pay The SUBLESSEE shall default in the payment of any amount required under this Lease as and when the same becomes due and said failure is not cured within ten (10) days after written notice thereof from Landlordinstallment of rent or other sum herein specified; or
(b) Tenant fails to perform any other termThe SUBLESSEE shall default in the observance or performance of the SUBLESSEE'S covenants, conditionagreements, or obligation under this Lease obligations hereunder (except as provided in Paragraph 18(a) above) and said failure is the SUBLESSEE shall not cured cure such default within thirty (30) days after written notice thereof from Landlord. Upon or if such default cannot be cured within thirty (30) days, then if SUBLESSEE shall not commence to cure the occurrence same within thirty (30) days and diligently pursue the curing of the same; or
(c) If SUBLESSEE makes any assignment for the benefit of creditors, commits any act of bankruptcy or files a petition under any bankruptcy or insolvency law; or if such a petition is filed against SUBLESSEE and is not dismissed within ninety (90) days; or if a receiver or similar officer becomes entitled to SUBLESSEE'S leasehold hereunder and it is not returned to SUBLESSEE within ninety (90) days, or if such leasehold is taken on execution or other process of law in any action against SUBLESSEE; then in any such default by Tenant, Landlord case the SUBLESSOR shall have the option right thereafter, while such default continues, to pursue any one or more re-enter and take complete possession of the following remedies without any additional notice or demand whatsoever: terminate Leased Premises, to declare the term of this Lease, in which event Tenant shall immediately surrender the Leased Premises to LandlordSUBLEASE ended, and if Tenant fails to do so Landlord mayremove the SUBLESSEE'S effects at SUBLESSEE'S sole cost and expense, without prejudice to any remedies which might be otherwise used for arrears of rent or other remedy default. The SUBLESSEE shall indemnify the SUBLESSOR against all reasonable costs of collection (including attorneys' fees), reasonable costs to prepare the premises to be re-let (but not including the cost of removing the Tenant Improvements), reasonable costs to re-let the premises, loss of rental income that would otherwise have been paid by SUBLESSEE, and reasonable payment of such other damages for breach of this SUBLEASE which Landlord the SUBLESSOR may have for omission or arrearages in Rentincur by reason of such early termination of the SUBLEASE, enter upon and take possession but only during the residue of the term. In the event of default, SUBLESSOR shall use its reasonable efforts to re-let the Leased Premises and expel or remove Tenant and so as to mitigate any other person who may be occupying damages to the SUBLESSEE hereunder. If SUBLESSOR re-lets the Leased Premises Premises, SUBLESSEE may off-set its payable rent by the amount of rent received by SUBLESSOR. If the SUBLESSEE shall default, after written notice thereof as provided herein, in the observance or performance of any conditions or covenants on its part thereof, without being liable for prosecution to be observed or any claim of damages therefor; performed under or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation by virtue of any of the terms, covenants, conditions or other provisions of this LeaseSUBLEASE and after the expiration of any period within which the SUBLESSEE is entitled to cure such default as is provided above in this Paragraph l8, the SUBLESSOR, 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 SUBLESSEE. In the event either party makes any expenditures or incurs any obligations for the payment of money in connection therewith, including, but not limited to, reasonable attorney's fees (except for unsuccessful suits against the other) in instituting, prosecuting or defending any action or proceeding under this SUBLEASE, such sums paid or obligations incurred, with interest at the rate of twelve (12%) percent per annum and costs, shall be paid to the prevailing party by injunctionthe non-prevailing party. Nothing contained in this SUBLEASE shall limit or prejudice the right of SUBLESSOR to claim and obtain in proceedings for bankruptcy, order insolvency or like proceedings by reason of specific performance the termination of this SUBLEASE, an amount equal to the maximum allowed by any statute or other appropriate equitable relief. The remedies provided to Landlord hereunder rule of law in effect at the time when, and governing the proceedings in which the damages are intended to be cumulativeclaimed or proved, and may whether or not the amount be exercised by Landlord in any ordergreater, equal to, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to less than the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender amount of the Leased Premises by ▇▇▇▇▇▇loss or damages referred to above. Notwithstanding the foregoing, whether by agreement or by operation of law, it being understood that such surrender can SUBLESSEE shall be affected only by the written agreement of Landlord and ▇▇▇▇▇▇is hereby granted two ten day grace periods per calendar year in which to cure what would otherwise constitute monetary defaults under this SUBLEASE.
Appears in 1 contract
Default of Tenant. Each of the following shall constitute a default by Tenant under this Lease:
(a) If Tenant fails shall fail to pay any amount required under installments of rent when due or fail to keep and perform any other covenant of this Lease and if Tenant shall continue in any such failure or default for a period of fifteen (15) days in the event of non-payment of rent or thirty (30) days in the event of any other default after Landlord has given Tenant written notice thereof and demand for payment of rent or correction of default, as the case may be, Landlord may reenter the Premises and when take possession of the same, including the Buildings, parking area, improvements and attached fixtures, other than the removable trade fixtures and equipment, either with or without process of law, and expel Tenant therefrom without prejudice to any other legal or equitable remedies available to Landlord. No such entry by Landlord, either with or without process of law, shall bar Landlord from the recovery of damages as hereinafter set forth. If any default shall occur (other than in the payment of rent) which cannot with due diligence be cured within a period of thirty (30) days, and Tenant, prior to the expiration of thirty (30) days from and after the giving of notice as aforesaid, commences to eliminate such default and proceeds diligently to take steps to cure the same, Landlord shall not have the right to reenter as hereinbefore provided.
(b) If Landlord elects to reenter, as herein provided, or should take possession of the Premises, Buildings and parking area pursuant to legal proceedings or pursuant to any notice provided for by law, Landlord may either terminate this Lease or may, from time to time without terminating this Lease and to mitigate damages, make such alterations and repairs as may be necessary in order to relet the Premises, and relet said Premises or any part thereof for such term or terms and at such rental and upon such other terms and conditions as Landlord may deem advisable; and, upon each such reletting, all rental received by Landlord from such reletting shall be applied, first, to payment of any indebtedness other than rent due hereunder from Tenant to Landlord; second, to the payment of any costs and expenses of any such reletting, including attorney's fees and costs of such alterations and repairs; third, to the payment of rent due and unpaid hereunder, and the residue, if any, shall be held by Landlord and applied in payment of future rent as the same becomes may become due and said failure is not cured payable hereunder. If such rentals received from such reletting during any month be less than that to be paid during that month by Tenant hereunder, Tenant shall pay any such deficiency to Landlord. Such deficiency shall be calculated and paid monthly by Tenant within ten (10) days after written notice thereof from Landlord; (b) Tenant fails to perform any other term, condition, or obligation under this Lease and the receipt of said failure is not cured within thirty (30) days after written notice thereof calculation from Landlord. Upon If such deficiency be not paid, Landlord may ▇▇▇ monthly, periodically or at the occurrence end of the term to recover the same with the other charges set forth herein, as Landlord may elect. No such reentry or taking possession of said Premises by Landlord shall be construed as an election on its part to terminate this Lease unless a written notice of such intention be given to Tenant by Landlord. Notwithstanding any such default by Tenantreletting without termination, Landlord shall have the option may at any time thereafter elect to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this LeaseLease for such previous breach. If Landlord at any time terminates this Lease for any breach, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord it shall be entitled to restrain any default or violationrecover from Tenant the costs of recovering the Premises, or attempted or threatened default or violation reasonable attorney's fees and the worth at the time of any such termination of the termsexcess, covenantsif any, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased amount of rent and charges reserved in this Lease for the remainder of the term for which Tenant is obligated over the then reasonable rental value of the Premises by ▇▇▇▇▇▇, whether by agreement or by operation for the remainder of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇term for which Tenant is obligated.
Appears in 1 contract
Sources: Lease Agreement (Sport Haley Inc)
Default of Tenant. Each If at any time the rental or any money payments here under, or any part thereof, shall remain unpaid for a period of the following shall constitute a default by Tenant under this Lease:
ten (a10) Tenant fails to pay any amount required under this Lease as and when days after the same becomes due, Landlord shall give written notice to Tenant of such default and intent to terminate the Lease in ten (10) days and shall allow Tenant to cure such default by making the rental or any money payments due together with a late charge of $500.00 dollars per each month's (or portion of a month) delinquency, plus the money due and said failure any attorneys' fees detailed in Section 18. If the default is not cured within corrected after this period, Landlord has all remedies available at law including the lockout provisions of ARS ss.33-361. If at any time Tenant is otherwise in breach of the Lease, Landlord shall give notice of such default to Tenant. If Tenant shall fail to pay the rental or any money payment plus the late charge, or fail to fulfill or perform any of the other agreements and provisions hereof obligatory upon Tenant, and if said nonpayment, nonfulfillment or nonperformance shall continue for a period of ten (10) days after written notice thereof from Landlord; (b) thereof, Tenant fails shall be considered in default hereunder, and upon such default it shall be lawful and optional for Landlord to perform any other term, condition, or obligation under declare a termination of this Lease and to reenter upon said failure is not cured within thirty (30) days after written notice thereof from Landlord. Upon premises and to again repossess and enjoy the occurrence of any same and all improvements thereon, and thereupon this Lease shall terminate; and in addition thereto, upon such default by Tenant, Landlord shall have the option to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation whatever remedies Landlord may have at law for the collection of any unpaid rental hereunder or for damages hereunder or for damages that Landlord may have sustained on account of Tenant's nonfulfillment or nonperformance of the terms, covenants, conditions agreements and provisions hereof or for any other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and sums that may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect due according to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇terms hereof.
Appears in 1 contract
Sources: Lease Agreement (Titan Motorcycle Co of America Inc)
Default of Tenant. Each If any one or more of the following occurs: (2) a rent payment or any other payment due from Tenant to Landlord shall constitute a be and remain unpaid in whole or in part for more than five (5) days following written notice form Landlord of non-payment by Tenant; provide, however, if Landlord has given two (2) or more of such notices during the preceding twelve (12) month period, no such prior notice need be given by Landlord and Tenant shall be in default by Tenant under this Lease:
(a) Tenant fails to pay any amount required under this Lease as and when Agreement if the same becomes due and said failure payment is not cured made by Tenant within ten (10) days after written notice thereof from Landlordof the date same is due and payable; (b2) Tenant fails to perform shall not violate or default on any of the other covenants, agreements, stipulations or conditions herein or in any other termagreement between Landlord and Tenant relating to the Premises and such violation or default shall continue for a period of thirty (30) days (or such additional period of time, conditionnot to exceed and additional sixty (60) days, as is reasonable under the circumstances if the violation or obligation under this Lease and said failure default is not of the type that can be reasonably be cured within thirty (30) days and Tenant promptly commences such cure and at all times diligently pursues same) after written notice thereof from Landlord of such violation or default; or (3) if Tenant or any guarantor of this Lease Agreement shall commence or have commenced against Tenant or any guarantor proceedings under a bankruptcy, receivership, insolvency or similar type of action; then it shall be optional for Landlord. Upon the occurrence of any , without further notice or demand, to cure such default by or to declare this Lease Agreement forfeited and the said Term ended, or to terminate only Tenant, Landlord shall have the option 's right to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises, and to re-enter the Premises and expel with or remove Tenant and any other person who without process of law, using such force as may be occupying the Leased Premises necessary to remove all persons or any part thereofchattels therefrom, without being and Landlord shall not be liable for prosecution damages by reason of such re-entry or any claim forfeiture; but notwithstanding re-entry by Landlord of damages therefor; forfeiture of termination of this Lease Agreement or enter upon and take termination only of Tenant's right to possession of the Leased Premises Premises, the Liability of Tenant for the rent and expel all other sums provided for herein shall not be relinquished or remove Tenant extinguished for the balance of the Term of this Lease Agreement and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain periodically sue ▇▇▇ant for all sums due under this Lease Agreement or which become due prior to judgment, but such suit shall not bar subsequent suits for any default or violationfurther sums coming due thereafter. Tenant shall be responsible for, or attempted or threatened default or violation in addition to the rentals and other sums agreed to be paid hereunder, the cost of any necessary maintenance, repair, restoration, reletting (including related cost of removal or modification of tenant improvements) or cure as well as reasonable attorney's fees incurred or awarded in any suit or action instituted by Landlord to enforce the terms, covenants, conditions or other provisions of this LeaseLease Agreement, by injunction, order regain possession of specific performance the Premises or the collection of the rentals due Landlord hereunder. Tenant shall also be liable to Landlord for the payment of a late charge in the amount of 10% of the rental installment or other appropriate equitable relief. The remedies provided to sum due Landlord hereunder are intended to be cumulative, if said payment has not been received within ten (10 days) from the date said payment becomes due and may be exercised by Landlord in any orderpayable, or simultaneouslycleared by Landlord's bank within three (3) business days after deposit. Tenant agrees to pay interest at 12% per annum or the maximum permissible rate under the applicable usury statutes, without such exercise being a waiver by Landlord of its right to exercise any whichever is less, on all rentals and other remedy granted to sums due Landlord hereunder not paid within ten (or under applicable Laws10) with respect to days from the date the same defaultbecomes due and payable. Exercise by Each right or remedy of Landlord of any one provided for in this Lease Agreement shall be cumulative and shall be in addition to every other right or more remedies hereunder granted remedy provided for in this Lease Agreement now or otherwise available shall not be deemed to be an acceptance hereafter existing at law or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement in equity or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇statute or otherwise.
Appears in 1 contract
Sources: Lease Agreement (Cray Inc)
Default of Tenant. Each The following events unless cured within the applicable time specified in the paragraph describing such event, or, if no time is specified, within the time specified in Section 19(k), below shall be deemed to be events of the following shall constitute a default by Tenant under this Lease:
(a) a. Tenant fails shall fail to pay any amount portion of the Rent required under this Lease to be paid hereunder or shall fail to pay any other financial obligation imposed upon Tenant by the terms hereof as and when due; provided however, that with respect to the same becomes due and said first (lst such failure is not cured within ten in any twelve (1012) month period only, no default shall be deemed to have occurred unless such failure continues for a period of five (5) days after Landlord provides written notice thereof from Landlord; (b) to Tenant.
b. Tenant fails shall fail to perform comply with any other term, condition, provision or obligation under covenant of this Lease other than as referred to in Section l 9(a) above and said shall not commence to correct such failure is not cured within thirty (30) days after written notice thereof to Tenant from Landlord. Upon the occurrence of any Landlord specifying such default by Tenantfailure, Landlord shall have the option or having so commenced to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease, in which event correct such failure neglects and fails to prosecute such correction with due diligence to completion.
c. Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to desert or vacate any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession part of the Leased Premises and expel or remove Premises.
d. Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violationapply for, or attempted consent in writing to, the appointment of a receiver, trustee or threatened default liquidator of Tenant or violation of any all or substantially all of the terms, covenants, conditions Tenant’s or other provisions of this Lease, by injunction, order of specific performance Guarantor’s assets.
e. Tenant shall file a voluntary petition in bankruptcy or other appropriate equitable relief. The remedies provided admit in writing Tenant’s inability to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by pay T▇▇▇▇▇▇, whether by agreement or by operation ’s debts as they become due.
f. Tenant shall make a general assignment for the benefit of law, it being understood that such surrender can be affected only by the written agreement of Landlord and T▇▇▇▇▇’s creditors.
g. Tenant shall file a petition or an answer seeking reorganization or arrangement with creditors or take advantage of any insolvency law.
h. Tenant shall file an answer admitting the material allegations of a petition filed against Tenant in any bankruptcy, reorganization or insolvency proceedings.
i. If a levy under execution or attachment shall be made against Tenant and T▇▇▇▇▇’s property and such execution or attachment shall not be vacated or removed by court order, bonding or otherwise within a period of sixty (60) days after such levy.
j. If an order, judgment or decree shall be entered by any court or competent jurisdiction on the application of a creditor adjudicating Tenant a bankrupt or insolvent, or approving a petition seeking reorganization of Tenant or appointment of a receiver, trustee or liquidator of Tenant, or of all or substantially all of Tenant’s assets, and such order, judgment or decree shall continue unstayed and in effect for a period of sixty (60) consecutive days.
k. The failure by Tenant to observe or perform any material covenant, condition, or provision in this Lease not already specifically mentioned in this Section 19, where such failure continues for thirty (30) days after written notice from Landlord notifying Tenant of such failure; provided, however, that if the nature of Tenant’s failure is such that more than thirty (30) days are reasonably required for its cure, then Tenant shall not be in default if it begins such cure within the thirty (30) day period described above and thereafter diligently prosecutes such cure to completion.
Appears in 1 contract
Default of Tenant. Each of the following shall constitute a default by Tenant under this Lease:
(a) (I) If Tenant fails shall default in its obligations to pay the Annual Fixed Rent or regularly scheduled payments of Additional Rent under this Lease when due, or if Tenant shall default in its obligations to pay any amount required invoice for Additional Rent or any other charges or amounts under this Lease as and when the same becomes due and said failure is not cured within ten if any such default shall continue for seven (107) days after written notice thereof from Landlord; (b) Tenant fails to perform any other term, conditionLandlord designating such default, or obligation (II) shall default in complying with its obligations under Sections 4.4 or 6.1.11 of this Lease and said failure if any such default shall continue for five (5) days after notice from Landlord designating such default, or (III) if as promptly as possible but in any event within thirty (30) days after notice from Landlord to Tenant specifying any default or defaults other than those set forth in clauses (I) or (II) Tenant has not cured the default or defaults so specified, or if such default is of such a nature that it cannot be cured within thirty (30) days after written using diligent efforts, if Tenant does not commence the curing of such default within such thirty-day period and thereafter diligently and continuously prosecute such cure to completion within such additional time as may be necessary, but in no event to exceed ninety (90) days from the date of Landlord’s notice thereof from to Tenant specifying the default (which 90-day period shall be extended on a day for day basis for each day that Tenant’s cure is delayed solely due to Force Majeure events or Landlord. Upon -cause delays); or (b) if any assignment shall be made by Tenant for the occurrence benefit of creditors; or (c) if Tenant’s leasehold interest shall be taken on execution; or (d) if a lien or other involuntary encumbrance shall be filed against Tenant’s leasehold interest or Tenant’s other property, including said leasehold interest, and shall not be discharged within ten (10) days thereafter; or (e) if a petition shall be filed by Tenant for liquidation, or for reorganization or an arrangement under any provision of any bankruptcy law or code as then in force and effect; or (f) if an involuntary petition under any of the provisions of any bankruptcy law or code shall be filed against Tenant and such involuntary petition shall not be dismissed within thirty (30) days thereafter; or (g) if a custodian or similar agent shall be authorized or appointed to take charge of all or substantially all of the assets of Tenant; or (h) if Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation; or (i) if any order shall be entered in any proceeding by or against Tenant decreeing or permitting the dissolution of Tenant or the winding up of its affairs; or (j) if Tenant shall fail to pay any installment of rent when due, Tenant shall cure such default by Tenantwithin the grace period provided in clause (a) (I) above (or with Landlord’s approval after the expiration of such grace period) and Tenant shall, Landlord shall have within the option next year following the date such initial defaulted payment was first due, fail more than once to pursue pay any one installment of Annual Fixed Rent or more of the following remedies without any additional notice or demand whatsoever: terminate this LeaseAdditional Rent when due, in which event Tenant shall immediately surrender the Leased Premises to Landlordthen, and if Tenant fails to do so in any of such cases indicated in clauses (a) through (j) hereof (collectively and individually, a “Default of Tenant”), Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter (x) give notice to Tenant terminating this Lease and/or the term hereof, which notice shall specify the date of such termination, whereupon on the date so specified, the term of this Lease and all of Tenant’s rights and privileges under this Lease shall expire and terminate or (y) without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon terminating this Lease terminate Tenant's right of possession and/or occupancy and reenter and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises notice and expel or remove Tenant and any other person who may be occupying the Leased Premises or party claiming under Tenant and remove any part thereof of their effects, without being liable for prosecution on account thereof, whether in trespass or any claim for damages thereforbreach or covenant or otherwise, with (and no such reentry or without having terminated taking possession shall be construed as an election by Landlord to terminate this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Lease unless Landlord shall be entitled affirm such election by notice expressly to restrain any default or violationsuch effect), or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord but in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available either case Tenant shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇remain liable as hereinafter provided.
Appears in 1 contract
Default of Tenant. Each If the Tenant shall fail to make any payment of the following shall constitute a default by Tenant under this Lease:
(a) Tenant fails to pay any amount required under this Lease as and when the same becomes due and said failure is not cured rent within ten (10) days after ▇▇▇▇▇▇ has received written notice thereof from Landlord; (b) of such default or if Tenant fails shall fail to keep and perform any other term, condition, or obligation under covenant of this Lease and said failure is not cured within shall continue in default for a period of thirty (30) days after ▇▇▇▇▇▇ has received written notice thereof of such default and demand of performance from Landlord, Landlord may declare the term ended and enter upon the premises and expel Tenant therefrom without prejudice to other remedies available to Landlord. Upon No such entry by Landlord shall bar Landlord from the occurrence recovery of damages [or the breach of any such default of the covenants hereof by Tenant, and, Tenant shall remain liable for the payment of rent and other charges under the Lease, including brokerage commissions and expenses to prepare the Premises for re-rental, and all costs of maintaining the Premises until a new Tenant commences payment of rent, and thereafter, Tenant shall remain liable for any deficiencies after application of rent payments received by Landlord, but Tenant shall not be entitled to excess payments received by Landlord, if any. Provided, however, if any default shall occur (other than in the payment of rent) which cannot with diligence be cured within a period of thirty (30) days and Tenant, prior to the expiration of thirty (30) days from and after the giving of notice as aforesaid, commences to eliminate such default and proceeds diligently to take steps to cure the same, Landlord shall not have the option right to pursue any one or more of declare the following remedies without any additional notice or demand whatsoever: terminate this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part term ended by reason thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to ▇▇▇▇▇▇▇▇'s rights hereunder, in the other remedies provided in event Landlord does not receive rent payments within ten (10) days of the date required by this Lease, and anything contained herein Tenant shall pay Landlord an amount equal to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any 5% of the termspayment past due, covenantsas additional rent, conditions or other provisions together with the next payment of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises rent by ▇▇▇▇▇▇, whether . Landlord shall be entitled to recover from Tenant other all reasonable costs and legal fees incurred in connection with any default by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇Tenant.
Appears in 1 contract
Default of Tenant. Each of the following (i) If Tenant shall constitute a default by Tenant under this Lease:
(a) Tenant fails in its obligations to pay the Annual Fixed Rent or Additional Rent or any amount required other charges under this Lease as within five (5) days of the date when due or shall default in complying with its obligations under Subsection 6.1.10 of this Lease and when the same becomes due and said failure is not cured within ten if any such default shall continue for five (105) days after written notice pursuant to Section 10.1 thereof from Landlord; , or (bii) if as promptly as possible but in any event within thirty (30) days after notice from Landlord to Tenant specifying any default or defaults other than those set forth in clause (i) Tenant fails to perform any other term, condition, has not cured the default or obligation under this Lease and said failure defaults so specified; or if such default is of such a nature that it cannot be cured within thirty (30) days after written notice thereof from Landlord. Upon using best efforts, if Tenant does not commence the occurrence curing of any such default by within such thirty-day period and thereafter diligently and continuously prosecute such cure to completion within such additional time as may be necessary, but in no event to exceed sixty (60) days from the date of Landlord’s notice to Tenant specifying the default, or (iii) if there shall be a default of Tenant’s obligations under any lease between Landlord and Tenant for any space in the Building, Landlord shall have the option to pursue any one or more of the following remedies without any additional which default continues beyond applicable notice or demand whatsoever: terminate this Leaseand cure periods, in which event Tenant shall immediately surrender the Leased Premises to Landlordthen, and if Tenant fails to do so in any of such cases indicated in clauses (i), (ii) and (iii) hereof (collectively and individually, a “Default of Tenant”), Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided and not in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter give notice to Tenant terminating this Lease and the termsterm hereof, covenantswhich notice shall specify the date of termination, conditions or other provisions whereupon on the date so specified, the term of this Lease, by injunction, order Lease and all of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, Tenant’s rights and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or privileges under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available this Lease shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord expire and ▇▇▇▇▇▇terminate but Tenant shall remain liable as hereinafter provided.
Appears in 1 contract
Sources: Lease Agreement (AxoGen, Inc.)
Default of Tenant. Each The occurrence of any one or more of the following shall constitute a default by Tenant “Default of Tenant” under this Lease:
(a) The failure by Tenant fails to pay make any amount payment of Annual Fixed Rent, Additional Rent or any other payment required under this Lease to be made by Tenant hereunder (collectively, “Rent”), as and when the same becomes due and said due, where such failure is not cured within shall continue for ten (10) days after written notice thereof from LandlordLandlord to Tenant; provided, however, that any such notice shall be in lieu of, and not in addition to, any notice required under California Code of Civil Procedure §1161.
(b) The failure by Tenant fails to observe or perform any other term, condition, of the express or obligation under implied covenants or provisions of this Lease to be observed and said performed by Tenant, other than as specified in subsection (a) above, where such failure is not cured within shall continue for a period of thirty (30) days after written notice thereof from Landlord. Upon the occurrence of Landlord to Tenant; provided, however, that any such default by Tenant, Landlord notice shall have the option to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease, be in which event Tenant shall immediately surrender the Leased Premises to Landlordlieu of, and not in addition to, any notice required under California Code of Civil Procedure §1161; provided, further, that if the nature of Tenant’s default is such that more than thirty (30) days are reasonably required for its cure, then Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be in default if Tenant shall commence such cure within such thirty (30) day period and thereafter diligently prosecute such cure to completion within sixty (60) days from the date of such notice from Landlord.
(c) An assignment by Tenant or any guarantor of Tenant for the benefit of creditors.
(d) The taking by execution or levy of Tenant’s leasehold interest.
(e) The filing of a lien or other involuntary encumbrance against Tenant’s leasehold interest or Tenant’s other property, including said leasehold interest, or against the property of any guarantor of Tenant, which filing shall not be discharged within ten (10) days after Tenant receives notice thereof.
(f) The filing of a petition by Tenant or any guarantor of Tenant for liquidation, or for reorganization or an acceptance arrangement under any provision of any bankruptcy law or surrender code as then in force and effect.
(g) The filing of an involuntary petition under any of the Leased Premises provisions of any bankruptcy law or code against Tenant or any guarantor of Tenant and such involuntary petition shall not be dismissed within thirty (30) days thereafter.
(h) The appointment of a custodian, receiver or similar agent shall be authorized or appointed to take charge of all or substantially all of the assets of Tenant or any guarantor of Tenant.
(i) The dissolution or liquidation of Tenant or any guarantor of Tenant or the adoption of any plan or the commencement of any proceeding, the result of which is or is intended to include the dissolution or liquidation of Tenant or any guarantor of Tenant.
(j) The entry of an order in any proceeding by ▇▇▇▇▇▇, whether by agreement or by operation against Tenant or any guarantor of law, it being understood that such surrender can be affected only by Tenant decreeing or permitting the written agreement dissolution of Landlord and ▇▇▇▇▇▇Tenant or any guarantor of Tenant or the winding up of its affairs.
Appears in 1 contract
Sources: Lease Agreement (Dexcom Inc)
Default of Tenant. Each If any one or more of the following shall constitute a default by Tenant under this Lease:happen (hereinafter referred to as "Event or Events of Default"):
(a) Tenant fails to pay any amount required If default shall be made in the due and punctual payment of the base rent and all other charges payable under this Lease lease when and as and when the same becomes shall become due and said failure is not cured within payable, and such default shall continue for a period of ten (10) days after written notice thereof from LandlordLandlord to Tenant without being cured by Tenant; or
(b) If default shall be made by Tenant fails to perform in the performance of or compliance with any of the covenants, agreements, terms or conditions contained in this lease, other termthan that contained in subsection (a) hereof, condition, or obligation under this Lease and said failure is not cured within such default shall continue for a period of thirty (30) days after written notice thereof from Landlord. Upon the occurrence of any such default said defaults received by Tenant, Landlord and Tenant shall
(c) If Tenant shall have file a voluntary petition in bankruptcy or shall be adjudicated a bankrupt or insolvent or shall file any petition or answer seeking any arrangement, liquidation, dissolution or similar relief under present or future federal bankruptcy law or any other applicable state or federal law or shall seek or consent to or acquiesce in the option to pursue appointment of any one trustee, receiver or more liquidator of Tenant or of any or all of its properties or of the following remedies without Premises, and, if within seventy-five (75) days after the commencement of any additional proceeding against Tenant as enumerated in this subsection, said proceeding has not been dismissed or if within seventy-five (75) days after the appointment of any trustee, receiver or liquidator of Tenant for all or any portion of Tenant's properties, including the Premises, such appointment shall not be vacated or otherwise stayed; then and in any such event Landlord, at any time thereafter, as long as such default continues, may give notice to Tenant specifying such event of default or demand whatsoever: events of default and stating that this lease and the term hereby demised shall expire and terminate on the date specified in such notice, which shall be at least ten (10) days after giving such notice, and upon the date specified in said notice this Leaselease shall terminate and expire. Upon such termination Tenant shall remain liable as hereinafter provided unless before said termination date Tenant has paid all arrearages of rent, all other amounts payable by Tenant under this lease and all costs or expenses incurred by Landlord as a result of said default, including reasonable attorneys' fees and all other defaults existing at that time under this lease have been fully cured or satisfied by Tenant in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession consequences of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord such default shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇nullified.
Appears in 1 contract
Default of Tenant. Each of It is agreed that (i) if Lessee vacates or abandons the following shall constitute a default by Tenant under this Lease:
(a) Tenant fails to pay any amount required under this Lease as and when Demised Premises or permits the same becomes due and said failure is not cured within to remain vacant or unoccupied for a period of ten (10) days, or (ii) if the rent, or any part thereof shall be unpaid for five (5) days after written notice thereof from Landlord; (b) Tenant fails to perform any other term, conditionLessee, or obligation under this Lease (iii) if default shall be made in the prompt and said failure is not cured within full performance of any covenant, condition or agreement or breach of performance shall continue for more than a reasonable time (in no event to exceed thirty (30) days after written notice thereof from Landlord. Upon to Lessee, specifying such default, or breach of performance), or (iv) if any proceedings shall be commenced to declare Lessee bankrupt or insolvent or to obtain relief under any chapter or provision of any bankruptcy or debtor relief law or act or to reduce or modify Lessee's debts or obligations or to delay or extend the payment thereof, or if any assignment of Lessee's property be made for benefit of creditors, or if a receiver or trustee be appointed for Lessee or Lessee's property or business, then Lessor may treat the occurrence of any such default by Tenant, Landlord shall have the option to pursue any one or more of the following remedies foregoing events as a breach of this Lease and thereupon at its option, without any additional further notice or demand whatsoever: of any kind to Lessee or any other person, may have, in addition to all other legal or equitable remedies, the following described remedies:
(a) Lessor may elect to terminate this Lease, Lease and the term created hereby in which event Tenant Lessor forthwith may repossess the Demised Premises and Lessee shall immediately surrender pay at once to Lessor as liquidated damages a sum of money equal to the Leased Premises rental provided in Paragraph 3 of this Lease to Landlord, and if Tenant fails be paid by Lessee to do so Landlord may, without prejudice to any other remedy which Landlord may have Lessor for omission or arrearages in Rent, enter upon and take possession the balance of the Leased stated term of this Lease less the fair rental value of the Demised Premises for said period.
(b) Lessor may elect to terminate Lessee's right of possession without termination of this Lease in which event Lessee agrees to surrender possession and vacate the Demised Premises immediately and deliver possession thereof to Lessor and Lessee hereby grants to Premises, in whole or in part, with or without process of law to dispossess Lessee of the Demised Premises or any [****] hereof and to expel or remove Tenant Lessee and any other person person, firm [****] corporation who may be occupying or within the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Demised Premises or any part thereof and remove any and all property therefrom without being liable for prosecution terminating the Lease or any claim for damages thereforreleasing Lessee in whole or in part from Lessee's obligation to pay rent and perform the covenants, with or without having terminated this Lease. In addition conditions and agreements to the other remedies be performed by Lessee as provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord ; without being deemed in any ordermanner quilty of trespass, eviction or simultaneously, forcible entry or detainer; and without such exercise being a waiver by Landlord of its relinquishing Lessor's right to exercise rental or any other remedy granted to Landlord hereunder (or right of Lessor under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement this Lease or by operation of law. Upon and after entry into possession without terminating the Lease, it being understood Lessor may, but shall not be obligated to relet all or any part to the Demised Premises for the account of Lessee for such rent and upon such terms and to such person, firm or corporation and for such period or periods as Lessor in Lessor's sole discretion shall determine, and Lessor shall not be required to accept any tenant offered by Lessee, to observe any instruction given by Lessee about such reletting or to do any act or exercise any care or diligence with respect to such reletting or to the mitigation of damages of Lessee. For the purpose of such reletting, Lessor may decorate or make repairs, changes, alterations or additions in or to the Demised Premises to the extent deemed by Lessor desirable or convenient. All such consideration so received shall be the sole property of Lessor; provided, however, if the consideration collected by Lessor upon any such reletting for Lessee's account is not sufficient to pay the rental reserved in this Lease together with an amount equal to five percent (5%) of the rent provided for in any new Lease as liquidated damages and the cost of repairs, alternations, additions redecorating and Lessor's other expenses, Lessee agrees to pay to Lessor the deficiency upon demand. The service of five-day notice, demand for possession, a notice that the tenancy hereby created will be terminated on the date therein named, institution of an action of forcible detainer or ejectment or the entering of a judgement for possession in such surrender can action, or any other act or acts resulting, in the termination of Lessee's right to possession of the Demised Premises shall not relieve Lessee from Lessee's obligation to pay the rent hereunder during the balance of the term or any extension thereof, except as herein expressly provided. Lessor may collect and receive any rent due from Lessee; and the payment thereof shall not constitute a waiver of or affect any notice or demand given, suit instituted or judgement obtained by Lessor, or be affected only held to waive, affect, change, modify or alter the rights or remedies which Lessor has in equity or at law or by virtue of the written agreement Lease. The acceptance of Landlord and ▇▇▇▇▇▇liquidated damages by Lessor under any of the provisions of this Lease shall not preclude Lessor from the enforcement of any of the covenants or agreements of this Lease, nor shall any other act which infers recognition of the tenancy operate as a waiver of Lessor's right to terminate this Lease or operate as an extension of this Lease.
Appears in 1 contract
Default of Tenant. Each of the The following events shall constitute be a default by Tenant (a “Default”) under this Lease:
(a1) Failure of Tenant fails to pay any amount required under this Lease Rent as and when due, if the same becomes due and said failure is not cured within ten continues for five (105) days after written notice thereof from Landlord; Landlord specifying the failure.
(b2) Failure of Tenant fails to comply with or perform any covenant or obligation of Tenant under this Lease, other termthan those concerning the payment of Rent, conditionif the failure continues for twenty (20) days after notice from Landlord to Tenant specifying the failure; provided, however, that if the failure on the part of Tenant is not capable of being cured within such 20-day period but Tenant expeditiously commences to cure same and diligently proceeds with such cure, Tenant’s time to cure such failure shall be extended for the time necessary to cure same, but in no event longer than sixty (60) days, inclusive of the original 20-day period.
(3) [Intentionally omitted.]
(4) If Tenant, any guarantor of Tenant’s performance hereunder (a “Guarantor) or, if Tenant is a partnership, any partner of Tenant (“Partner”), shall file a voluntary petition in bankruptcy or insolvency, shall be adjudicated bankrupt or insolvent or shall file a petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future federal, state or other law, or obligation under this Lease and said failure is not cured shall make an assignment for the benefit of creditors, or shall seek or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or of any Guarantor or Partner or of all or any part of the property of Tenant or of such Guarantor or Partner.
(5) If, within thirty (30) days after written notice thereof from Landlord. Upon the occurrence commencement of any proceeding against Tenant or a Guarantor or Partner, whether by the filing of a petition or otherwise, seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future applicable federal, state or other law, such default by Tenantproceeding shall not have been dismissed or if, Landlord within thirty (30) days after the appointment of any trustee, receiver or liquidator of Tenant or any Guarantor or Partner, or of all or any part of the property of Tenant or of any Guarantor or Partner, without the acquiescence of such individual or entity, such appointment shall not have been vacated or otherwise discharged, or if any execution or attachment shall have been issued against the option property of Tenant or of any Guarantor or Partner, pursuant to pursue any one which the Premises shall be taken or more of the following remedies without any additional notice occupied or demand whatsoever: terminate this Lease, in which event Tenant shall immediately surrender the Leased Premises attempted to Landlord, and if be taken or occupied.
(6) If Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel within thirty (30) days following the Lease Commencement Date or remove Tenant and any other person who may be occupying vacates, abandons or ceases to carry on its ordinary activities in the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of prior to the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages thereforLease Expiration Date, with or without having terminated an intention of paying Rent; provided, however, that if (i) Tenant gives Landlord at least thirty (30) days prior written notice that it intends to vacate the Premises, (ii) Tenant pays the full amount of all Rent when due under this Lease. In addition to Lease while the Premises are vacant, (iii) the fact that the Premises or Building is vacant does not adversely affect the Premises or Building or other remedies provided tenants therein and does not result in this Leaseany liability to, or expenditure of funds by, Landlord, and anything contained herein (iv) Tenant leaves the Premises in a condition satisfactory to Landlord and continues to maintain the contrary notwithstanding, Premises in a condition satisfactory to Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any throughout the remainder of the termsTerm, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulativethen, and may be exercised by Landlord in any ordersuch event only, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available Tenant shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇in Default under this Section 19.A.(6).
Appears in 1 contract
Default of Tenant. Each of the following shall constitute a default by Tenant under this Lease:
(a) (I) If Tenant fails shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any amount required other charges or amounts under this Lease when due or shall default in complying with its obligations under Subsection 6.1.11 or the last sentence of Section 10.9 of this Lease and if any such default shall continue for ten (10) days after notice from Landlord designating such default, or (II) if as and when promptly as possible but in any event within thirty (30) days (or such additional time, but not to exceed sixty (60) days, as shall be reasonably required to cure such failure if the same becomes due and said failure is not capable of cure within thirty (30) days despite the use of all reasonable efforts by Tenant to do so) after notice from Landlord to Tenant specifying any default or defaults other than those set forth in clause (I) Tenant has not cured the default or defaults so specified; or (b) if any assignment shall be made by Tenant or any guarantor of Tenant for the benefit of creditors; or (c) if Tenant’s leasehold interest shall be taken on execution; or (d) if a lien or other involuntary encumbrance shall be filed against Tenant’s leasehold interest or Tenant’s other property, including said leasehold interest, or against the property of any guarantor of Tenant, and shall not be discharged within ten (10) days after written notice thereof from Landlordthereafter; or (be) if a petition shall be filed by Tenant fails to perform or any other term, conditionguarantor of Tenant for liquidation, or obligation for reorganization or an arrangement under this Lease any provision of any bankruptcy law or code as then in force and said failure is effect; or (f) if an involuntary petition under any of the provisions of any bankruptcy law or code shall be filed against Tenant or any guarantor of Tenant and such involuntary petition shall not cured be dismissed within thirty (30) days after written notice thereof from Landlord. Upon thereafter; or (g) if a custodian or similar agent shall be authorized or appointed to take charge of all or substantially all of the occurrence assets of Tenant or any guarantor of Tenant; or (h) if Tenant or any guarantor of Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation; or (i) if any order shall be entered in any proceeding by or against Tenant or any guarantor of Tenant decreeing or permitting the dissolution of Tenant or any guarantor of Tenant or the winding up of its affairs; or (j) if Tenant shall fail to pay any installment of Annual Fixed Rent or Additional Rent when due, Tenant shall cure such default by Tenantwithin the grace period provided in clause (a) (I) above (or with Landlord’s approval after the expiration of such grace period) and Tenant shall, Landlord shall have within the option next year following the date such initial defaulted payment was first due, fail more than twice to pursue pay any one installment of Annual Fixed Rent or more of the following remedies without any additional notice or demand whatsoever: terminate this LeaseAdditional Rent when due, in which event Tenant shall immediately surrender the Leased Premises to Landlordthen, and if Tenant fails to do so in any of such cases indicated in clauses (a) through (j) hereof (collectively and individually, a “Default of Tenant”), Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided and not in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter give notice to Tenant terminating this Lease and the termsterm hereof, covenantswhich notice shall specify the date of termination, conditions or other provisions whereupon on the date so specified; the term of this Lease, by injunction, order Lease and all of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, Tenant’s rights and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or privileges under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available this Lease shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord expire and ▇▇▇▇▇▇.terminate but Tenant shall remain liable as hereinafter provided,
Appears in 1 contract
Sources: Lease (Cuisine Solutions Inc)
Default of Tenant. Each In the event of the following shall constitute a default by any failure of Tenant under this Lease:
(a) Tenant fails to pay any amount required under this Lease as and when the same becomes rental due and said failure is not cured hereunder within ten five (105) days after written notice thereof from Landlord; the same shall be due more than twice in any twelve (b12) Tenant fails month period, or any failure to perform any other termof the terms, condition, conditions or obligation under covenants of this Lease and said failure is not cured within to be observed or performed by Tenant for more than thirty (30) days after written notice thereof from Landlord. Upon of such default shall have been given to Tenant, or such larger period of time as is reasonable if Tenant has commenced curing such default within thirty (30) days and is diligently pursuing such cure, or if Tenant shall be finally adjudicated a bankrupt and all appeal rights have been extinguished, or if Tenant, in any court pursuant to any statute either of the occurrence United States or of any such State, shall file a petition in bankruptcy or insolvency, or for reorganization or for the appointment of a receiver or trustee for all or a portion of Tenant's properly, or shall make an assignment for the benefit of creditors, or if Tenant shall abandon the Leased Premises and remove its furnishings and equipment therefrom, or if Tenant shall abandon said premises and also be in default by Tenantunder the Lease, Landlord or suffer this Lease to be taken under any writ of execution, then Landlord, besides other rights or remedies it may have, shall have the option to pursue any one immediate right of re-entry and may remove all persons and property from the Leased Premises and such property may be removed and stored in a public warehouse or more elsewhere at the cost, and for the account of the following remedies Tenant, all without any additional service of notice or demand whatsoever: resort to legal process and without being deemed guilty of trespass, or becoming liable for any loss or damage which may be occasioned thereby. Should Landlord elect to reenter as herein provided, or should it take possession pursuant to legal proceedings or pursuant to any notice provided for by law it may either terminate this Lease or it may from time to time without terminating this Lease, make such alterations and repairs as may be necessary to relet the Premises, and relet said Premises or any part thereof for such term or terms (which may be for a term extending beyond the term of this Lease) and at such rental or rentals and upon such other terms and conditions as Landlord in which event its sole discretion may deem advisable; upon each such reletting all rentals received by the Landlord from such reletting shall be applied, first, to the payment of any indebtedness other than rent due hereunder from Tenant to Landlord; second, to the payment of any costs and expenses of such reletting, including brokerage and attorneys' fees and of costs of alterations and repairs; third, to the payment of rent due and unpaid hereunder, and the residue, if any, shall be held by the Landlord and applied in payment of future rent as the same may become due and payable hereunder. If such rentals received from such reletting during any month be less than that to be paid during that month by Tenant hereunder, Tenant shall immediately surrender the Leased Premises pay any such deficiency to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission . No such re-entry or arrearages in Rent, enter upon and take taking possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, by Landlord shall be entitled construed as an election on its part to restrain terminate this Lease unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding any default such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous breach. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedies it may have all remedies available to it at law or violation, or attempted in equity. In the event of any breach or threatened default breach by Tenant or violation Landlord of any of the terms, covenants, conditions or other terms and provisions of this Lease, by injunction, order of specific performance either Tenant or Landlord shall have the right to injunctive relief as if no other appropriate equitable reliefremedies were provided herein for such breach. The rights and remedies provided herein reserved by or granted to Landlord hereunder or Tenant are intended to be distinct, separate and cumulative, and may be exercised by Landlord in any order, or simultaneously, without such the exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available of them shall not be deemed to be an acceptance preclude, waive or surrender prejudice Landlord's or Tenant's right to exercise any or all others. Tenant hereby expressly waives any right to assert a defense based on merger and agrees that neither the commencement of any action or proceeding, nor the settlement thereof, nor the entry of judgment therein shall bar Landlord from bringing any subsequent actions or proceedings from time to time. Wherever in this Lease the Landlord has reserved or is granted the right of re-entry into the Leased Premises the use of such word is not intended, nor shall it be construed, to be limited to its technical legal meaning. If either party incurs any expenses, including court costs and attorneys' fees (and the costs and expenses of such attorney), as a result of a default by ▇▇▇▇▇▇the other party under this Lease, whether by agreement or by operation of lawnot litigation is commenced or concluded, it being understood that then such surrender can expenses shall be affected only reimbursed by the written agreement non-prevailing party, whether or not such default is subsequently cured. Tenant hereby waives demand for rent, demand for possession, notice of Landlord forfeiture, notice of termination and ▇▇▇▇▇▇any and all other demands or notices required by law.
Appears in 1 contract
Default of Tenant. Each of the The following events shall constitute be a default by ("Default") of Tenant under this Lease:
(a1) Failure of Tenant fails to pay make any amount required under this Lease as and payment of Minimum Rent or Additional Rent when the same becomes due and said such failure is not cured within ten shall continue for a period of five (105) days after following written notice thereof from Landlord; Landlord to Tenant, provided Landlord shall only be required to give written notice of such monetary default twice in any twelve (b12) Tenant fails to perform any other termmonth period, condition, or obligation and thereafter it shall be a default under this Lease and said if Tenant shall fail to make any payment of Minimum Rent or Additional Rent within five (5) days of the due date.
(2) Failure of Tenant to perform or comply with any provision of this Lease to be performed or complied with by Tenant, other than provisions for the payment of Minimum Rent or Additional Rent, where such failure is not cured within shall continue for a period of thirty (30) days after written notice thereof from Landlord. Upon by Landlord to Tenant; provided that in the occurrence of any event such default by Tenantcannot be cured within thirty (30) days and Tenant commences to cure the default within thirty (30) days and diligently pursues such cure, Landlord then the 30-day period shall have the option be extended for up to pursue any one or more of the following remedies without any an additional notice or demand whatsoever: terminate this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who sixty (60) days as may be occupying reasonably necessary to cure such default.
(3) The taking of this Lease or the Leased Premises or any part thereofDemised Premises, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution upon execution or by other process of law directed against Tenant, or upon or subject to any attachment at the instance of any creditor of or claimant against Tenant, which execution or attachment shall not be discharged or disposed of within thirty (30) days after the levy thereof.
(4) If Tenant fails to take possession of at least fifty percent (50%) of the Demised Premises within three (3) months after the Lease Commencement Date or vacates or abandons the Demised Premises prior to the normal expiration of the term; provided Landlord's only remedy in the event of a default solely under this subparagraph (4) shall be, at Landlord's option, to take back the Demised Premises and terminate this Lease.
(5) The taking by Tenant, or any claim for damages thereforguarantor of Tenant's obligations hereunder, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the termsfollowing actions:
(a) its admitting in writing its inability to pay its debts generally as they become due, covenantsor (b) its filing a petition in bankruptcy or for reorganization or for the adoption of an arrangement under the Bankruptcy Code (as now existing or in the future amended), conditions or an answer or other pleading admitting the material allegations of such a petition or seeking, consenting to or acquiescing in the relief provided for under such Code, or (c) its making an assignment of all or a substantial part of its property for the benefit of its creditors, or (d) its seeking or consenting to or acquiescing in the appointment of a receiver or trustee for all or a substantial part of its property or of the Demised Premises, or (e) its being adjudicated a bankrupt or insolvent, or (f) the entry of a court order without its consent, which order shall not be vacated, set aside or stayed within sixty (60) days from the date of entry, appointing a receiver or trustee for all or a substantial part of its property or approving a petition filed against it for the effecting of an arrangement in bankruptcy or for a reorganization pursuant to the Bankruptcy Code or for any other judicial modification or alteration of the rights of creditors. The provisions of this Lease, paragraph shall apply notwithstanding the payment by injunction, order Tenant of specific performance or other appropriate equitable reliefa security deposit under paragraph 7 and/or the continued willingness and ability of Tenant to pay rent and otherwise perform hereunder. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised receipt by Landlord in any orderof payments of rent, or simultaneouslyas such, without such exercise being accruing subsequent to the time of Tenant's Default under this paragraph and before Landlord has actual notice of the occurrence of an event of Default under this paragraph shall not be deemed a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord provisions of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇this paragraph.
Appears in 1 contract
Sources: Lease Agreement (V One Corp/ De)
Default of Tenant.
(a) Each of the following events shall constitute a default (“Default”) by Tenant under this Lease:
: (ai) if Tenant fails to pay any amount Rent (or any installment thereof) within five (5) days after the same shall be due and payable, provided that Landlord shall not be obligated to provide such notice and opportunity to cure more than one (1) time in any twelve-month period, after which no further notice with respect to any such failure to pay shall be required for the twelve-month period succeeding such notice in order for a Default to have occurred under this Lease; (ii) if Tenant breaches or fails to observe or perform any term, condition or covenant of this Lease as (other than those involving the payment of Rent), and when such breach or failure is not cured within twenty (20) days after ▇▇▇▇▇▇’s receipt of notice thereof, unless such condition cannot reasonably be cured within such twenty (20) days, in which case Tenant must commence such cure within said twenty (20) days and diligently pursue said cure to its completion (provided, however, if such breach or failure creates a hazard, public nuisance or dangerous situation, said twenty (20) day grace period shall be reduced to forty eight (48) hours after ▇▇▇▇▇▇’s receipt of notice); (iii) if Tenant vacates or abandons the same becomes due Premises; (iv) if Tenant fails to carry and said maintain the insurance required by this Lease; (v) if Tenant fails to submit its plans and specifications for the Tenant Improvements to Landlord within the time periods provided for in Exhibit B and such failure is not cured within ten (10) days after written Tenant’s receipt of notice thereof from Landlordthereof; (vi) if Tenant effectuates a Transfer in violation of this Lease; or (vii) if Guarantor (if any) shall default in any of its obligations under the Guaranty (if any) or if there shall be a material decrease in the tangible net worth of Guarantor (if any).
(b) Tenant fails If a Default described in this Section occurs, Landlord shall have all the rights and remedies provided in this Section, in addition to perform any all other term, condition, or obligation rights and remedies available under this Lease and said failure is not cured within thirty or provided at law or in equity.
(30c) days after written notice thereof from Landlord. Upon the occurrence of any such default by event of Default described in this Section, Landlord may, upon notice to Tenant, Landlord shall have the option to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease, in which event Tenant or terminate Tenant’s right to possession of the Premises without terminating this Lease (as Landlord may elect). If the Lease or ▇▇▇▇▇▇’s right to possession under this Lease are at any time terminated under this Section, or otherwise, ▇▇▇▇▇▇ shall immediately surrender and deliver the Leased Premises peaceably to Landlord, and if . If Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstandingso, Landlord shall be entitled to restrain re-enter, without process and without notice (any default notice to quit or violationof re-entry being hereby expressly waived), using such force as may be reasonably necessary; and, alternatively, shall be entitled to the benefit of all provisions of law respecting the speedy recovery of possession of the Premises (whether by summary proceedings or attempted otherwise) any notice to quit or threatened default of re-entry being expressly waived.
(d) Upon the occurrence of any event of Default described in this Section, Landlord may also perform, on behalf and at the expense of Tenant, any obligation of Tenant under this Lease which Tenant fails to perform, the cost of which (together with an administrative fee equal to twenty percent (20%) of such cost to cover Landlord’s overhead in connection therewith) shall be paid by Tenant to Landlord upon demand. In performing any obligations of Tenant, Landlord shall incur no liability for any loss or violation damage that may accrue to Tenant, the Premises or Tenant’s Property by reason thereof, except if caused by Landlord’s willful, wanton and malicious act. The performance by Landlord of any such obligation shall not constitute a release or waiver of any of Tenant’s obligations under this Lease.
(e) Upon termination of this Lease or of Tenant’s right to possession under this Lease, Landlord may at any time and from time to time relet all or any part of the termsPremises for the account of Tenant or otherwise, covenantsat such rentals and upon such terms and conditions as Landlord shall deem appropriate. In the event that Landlord shall relet the Premises, conditions then rentals received by Landlord from such reletting shall be applied: first, to the payment of such expenses as Landlord may incur in recovering possession of the Premises, including legal expenses and attorneys’ fees, in placing the Premises in good order and condition and in preparing or other provisions altering the same for re-rental; second, to the payment of such expenses, commissions and charges as may be incurred by or on behalf of Landlord in connection with the reletting of the Premises; and third, to the fulfillment of the covenants of Tenant under the Lease, including the various covenants to pay Rent. Any reletting by Landlord shall not be construed as an election by Landlord to terminate this Lease unless notice of such intention is given by Landlord to Tenant. Notwithstanding any reletting without termination of this Lease, by injunctionLandlord may at any time thereafter elect to terminate this Lease. In any event, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed liable for, nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord to be an acceptance relet the Premises or surrender of the Leased Premises any failure by Landlord to collect any sums due upon such reletting.
(f) If this Lease, or ▇▇▇▇▇▇’s right to possession of the Premises, whether is terminated by agreement Landlord pursuant to the provisions of this Section, Tenant nevertheless shall remain liable to Landlord for (a) any Rent, damages or other sums which may be due or sustained prior to such termination, (b) all reasonable costs, fees and expenses (including attorneys’ fees, brokerage commissions, advertising costs, and expenses incurred in placing the Premises in first-class rentable condition) incurred by operation Landlord in pursuit of law, it being understood that such surrender can be affected only by its remedies hereunder and in renting the written agreement of Landlord Premises to others from time to time; and (c) additional damages which at ▇▇▇▇▇▇.▇▇’s election shall be either:
(i) an amount equal to the Rent which would have become due from the date of such termination through the expiration of the Term (or what would have been the expiration of the Term but for any termination thereof), less the net avails of reletting, if any, which Landlord receives during such period from others to whom the Premises may be rented (other than any Additional Rent received as a result of any failure of such other Person to perform any of its obligation to Landlord), which amount shall be due and payable by Tenant to Landlord on the dates such Rent and other sums above specified are due under the Lease; any suit or action brought to collect any such damages for any month shall not in any manner prejudice the right of Landlord to collect any damages for any subsequent month by a similar proceeding; or
(ii) accelerated damages in an amount equal to the present value (as of the date of such termination) of Rent which would have become due through the expiration of the Term (or what would have been such expiration but for any termination thereof), which liquidated and agreed final damages shall be payable to Landlord in one lump sum on demand. For purposes of this Section, “present value” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Building. Damages shall be due and payable immediately upon demand by Landlord following any termination of this Lease or ▇▇▇▇▇▇’s right to possession of the Premises pursuant to this Section.
(g) If, as the result of ▇▇▇▇▇▇’s Default at any time prior to the Lease Commencement Date, this Lease shall be terminated, Landlord and Tenant agree that, at Landlord’s sole option, Tenant shall pay to Landlord on account of such Default, as liquidated and agreed damages (and not as a penalty), immediately upon demand by Landlord, a sum equal to such amount as would have constituted one year’s Rent had the Rent Commencement Date occurred, the amount of any brokerage fees incurred by Landlord in connection with entering into this Lease with Tenant and any and all costs and expenses incurred by Landlord in performing any part of the Tenant Improvements as set forth in Exhibit B.
(h) No reference to any specific right or remedy in this Lease shall preclude Landlord from exercising any other right, from having any other remedy, or from maintaining any action to which it may otherwise be entitled under this Lease, at law or in equity.
Appears in 1 contract
Sources: Lease (Assure Holdings Corp.)
Default of Tenant. Each of the following shall constitute a default by Tenant under this Lease:
(a) Tenant fails In the event of any failure of Lessee to pay any amount required under this Lease as and when the same becomes rental due and said failure is not cured hereunder within ten (10) days after written notice thereof from Landlord; (b) Tenant fails the same shall be due, or any failure to perform any other of the term, condition, condition or obligation under covenant of this Lease and said failure is not cured within to be observed or performed by Lessee for more than thirty (30) days after written notice thereof from Landlord. Upon of such failure shall have been given to Lessee, or if Lessee or an agent of Lessee shall falsify any report required to be furnished to Lessor pursuant to the occurrence terms of this Lease, or if Lessee or any guarantor of this Lease shall become bankrupt or insolvent, or file any debtor proceedings or any person shall take or have against Lessee or any guarantor of this Lease in any court pursuant to any statute either of the United States or of any state a petition in bankruptcy or 146 insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Lessee's or any such guarantor's property, or if Lessee or any such guarantor makes an assignment for the benefit of creditors, or petitions for or enters into an arrangement, or if Lessee shall abandon the Demised Premises or suffer this Lease to be taken under any writ of execution, then in any such event Lessee shall be in default by Tenanthereunder, Landlord and Lessor, in addition to other rights of remedies it may have, shall have the option to pursue any one immediate right of re-entry and may remove all persons and property from the Demised Premises and such property may be removed and stored in a public warehouse or more elsewhere at the cost of and for the account of the following remedies Lessee, all without any additional service of notice or demand whatsoever: terminate this Leaseresort to legal process and without being guilty of trespass, in or becoming liable for any loss or damage which event Tenant shall immediately surrender may be occasioned thereby.
(b) Should Lessor elect to re-enter the Leased Demised Premises to Landlordas herein provided, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and should it take possession of the Leased Demised Premises pursuant to legal proceedings or pursuant to any notice provided for by law, it may either terminate this Lease or it may from time to time, without terminating this Lease, make such alterations, and repairs as may be necessary in order to relet the Demised Premises and expel or remove Tenant and any other person who may be occupying relet the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Demised Premises or any part thereof for such term or terms (which may be for a term extending beyond the term of this Lease) and at such rental or rentals and upon such other terms and conditions as Lessor in its sole discretion may deem advisable. Upon each such subletting all rentals received by the Lessor from such reletting shall be applied first to the payment of any indebtedness other than rent due hereunder from Lessee to Lessor; second, to the payment of any costs and expenses of such reletting, including brokerage fees, attorney's fees and costs; third, to the payment of accrued and unpaid rent hereunder, and the remainder, if any, shall be held by Lessor and applied in payment of future rent as the same may become due and payable hereunder. If such rentals received from such reletting during any month are less than that to be paid during that month by Lessee hereunder, Lessee, upon demand, shall pay any such deficiency to Lessor. No such re-entry or taking possession of the Demised Premises by Lessor shall be construed as an election on Lessor's part to terminate this Lease unless a written notice of such intention be given to Lessee or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding any such reletting without being liable termination, Lessor may at any time after such re-entry and reletting elect to terminate this Lease for prosecution such previous breach. Should Lessor at any time terminate this Lease for any such breach, in addition to any 147 other remedies it may have, it may recover from Lessee all damages it may incur by reason of such breach, including the cost of recovering the Demised Premises, the cost of reletting the Demises premises, reasonable attorney's fees, and including the worth at the time of such termination of the excess, if any, of the amount of rent and charges equivalent to rent reserved in this Lease for the remainder of the stated term over the then reasonable rental value of the Demised Premises for the remainder of the stated term, all of which amounts shall be immediately due and payable from Lessee to Lessor.
(c) Lessor may, at its option, instead of exercising any other rights or remedies available to it in this Lease or otherwise by law, statute or equity, spend such money as is reasonable necessary to cure any default of Lessee herein and the amount so spent, and costs incurred, including attorney's fees in curing such default, shall be paid by Lessee, as Additional Rent, upon demand.
(d) In the event suit shall be brought for recovery of possession of the Demised Premises, for the recovery of rent or any claim for damages thereforother amount due under the provisions of this Lease or because of the breach of any other covenant herein contained on the part of the Lessee to be kept or performed, and a breach shall be established, Lessee shall pay to Lessor all expenses incurred therefore, including a reasonable attorney's fee, together with or without having terminated interest on all such expenses at the rate of eighteen percent (18%) per annum from the date of such breach of the covenants of this Lease. In addition to .
(e) Lessee hereby expressly waives any and all rights of redemption granted by or under any present or future laws in the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain event of Lessee being evicted or dispossessed for any default or violationcause, or attempted or threatened default or in the event of Lessor obtaining possession of the Demised Premises, by reason of the violation by Lessee of any of the terms, covenants, covenants or conditions or other provisions of this Lease, or otherwise. Lessee also waives any demand for possession of the Demised Premises, and any demand for payment of rent and any notice of intent to re-enter the Demised Premises, or of intent to terminate this Lease, other than the notices provided in this Article, and waives any and every other notice or command prescribed by injunctionany applicable statutes or laws.
(f) No remedy herein or elsewhere in this Lease or otherwise by law, order statute or equity, conferred upon or reserved to Lessor or Lessee shall be 148 exclusive of specific performance or any other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to remedy, but shall be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right from time to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to time and as often as the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇occasion may arise.
Appears in 1 contract
Sources: Office/Warehouse Lease (Childrens Broadcasting Corp)
Default of Tenant. Each a. In the event of the following shall constitute a default by any failure of Tenant under this Lease:
(a) Tenant fails to pay any amount required under this Lease as and when the same becomes rental due and said failure is not cured hereunder within ten (10) days after written notice thereof from Landlord; (b) Tenant fails the same becomes due, or if a check for the payment of Base Rent or Additional Rent is returned NSF, or any failure to perform any other termterms, condition, conditions or obligation under covenants of this Lease and said failure is not cured within to be observed or performed by Tenant for more than thirty (30) days after written notice thereof from Landlord. Upon of such failure has been given to Tenant (provided that where a cure is not reasonably possible within that period, Tenant will be entitled to additional time to effect a cure, but not beyond thirty (30) additional days, so long as Tenant promptly commences acts reasonably calculated to effect a cure and thereafter diligently prosecutes those acts to completion), or if Tenant or an agent of Tenant falsifies any report required to be furnished to Landlord pursuant to the occurrence terms of this Lease, or if Tenant or any guarantor of this Lease becomes bankrupt or insolvent, or files any debtor proceedings or any person takes or has against Tenant or any guarantor of this Lease in any court pursuant to any statute either of the United States or of any state a petition in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Tenant’s or any such guarantor's property, or if Tenant or any such guarantor's property, or if Tenant or any such guarantor makes an assignment for the benefit of creditors, or petitions for or enters into an arrangement with its creditors, or if Tenant abandons the Premises or suffers this Lease to be taken under any writ of execution, then in any such event Tenant will be in default hereunder. and Landlord may remove all persons and property from the Premises and such property may be removed and stored in a public warehouse or elsewhere at the cost of, and for the account of Tenant, without being guilty of trespass, or becoming liable for any loss or damage which may be occasioned thereby.
b. Upon any default by Tenant, Landlord shall Landlord, besides any other rights or remedies it may have at law or in equity, may (a) terminate this Lease upon the option expiration of five (5) days after written notice is given to pursue any one Tenant, in which event, the Term of Lease will end on the date set forth in the notice, or more (b) re-enter the Premises in accordance with applicable law, dispossess Tenant and/or other occupants of the following remedies Premises, remove all persons and property from the Premises and store such property in a public warehouse or elsewhere at the cost of, and for the account of Tenant and hold the Premises, without being guilty of trespass, or becoming liable for any additional loss or damage which may be occasioned thereby, or (c) take possession of the Premises pursuant to legal proceedings or pursuant to any notice or demand whatsoever: provided for by law. Tenant agrees that such re-entry by Landlord will not be construed as an election to terminate this Lease, that right being continuously reserved by Landlord. Landlord will not be deemed to have elected to terminate this Lease unless Landlord provides Tenant with written notice of that election. If Landlord elects to re-enter the Premises, Landlord may from time to time make such alterations and repairs as may be necessary in order to re-let the Premises, and re-let all or a part of the Premises for such term or terms (which event may be for a term extending beyond the Term of Lease) and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may believe appropriate. Upon each such subletting all rentals received by the Landlord from such re-letting will be applied first to the payment of any indebtedness other than rent due hereunder from Tenant shall immediately surrender the Leased Premises to Landlord; second, to the payment of any costs and expenses of such re-letting, including brokerage fees and attorney's fees and costs of such alterations and repairs; third, to the payment of the rent and other charges due and unpaid hereunder, and the residue, if any will be held by Landlord and applied in payment of future payments for which Tenant fails is responsible as the same may become due and payable hereunder. If the sums received from such re-letting during any month be less than that to do so be paid during that month by Tenant hereunder, Tenant will pay any such deficiency to Landlord; if such sums are greater, Tenant will have no right to the excess. The deficiency will be calculated and paid monthly. Notwithstanding any such re-entry by Landlord, Landlord maymay at any time after such re-entry and re-letting elect to terminate this Lease for such previous breach. In the event that Tenant or any parent, without prejudice to subsidiary, or affiliate of Tenant leases any other remedy space within the Building, any default by Tenant or such affiliated company under such other lease will be deemed to be a default under this Lease and Landlord will be entitled to enforce all of its rights and remedies as provided for in the event of a default under this Lease. Tenant will be responsible, and Landlord may recover a judgment from tenant, for Landlord's actual costs of constructing any leasehold improvements to the Premises which are not being directly paid for by Tenant together with such brokerage commissions as Landlord may have for omission or arrearages incurred in Rentconnection with this Lease (collectively, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease"Transaction Costs"). In addition Notwithstanding anything to the other remedies provided contrary in this Lease, and anything contained herein upon a default by Tenant, whether or not Landlord elects to the contrary notwithstandingterminate this Lease, Landlord shall will be entitled to restrain recover the unamortized balance of any such Transaction Costs, on an accelerated basis, so as to make the same immediately due and said amount will be deemed Additional Rent. For the purposes of this Lease, the "unamortized balance" means the actual total amount of Transaction Costs reduced, however, over the Term of Lease as if said sum were being amortized at an interest rate of eight percent (8.0%) per annum, in equal monthly installments over the number of months Tenant is to pay Base Rent under this Lease. Landlord's right to so accelerate the unamortized balance of the Transaction Costs will be an additional remedy of Landlord and will be exercisable either alone or in combination with Landlord's other remedies as set forth in this Lease. Should Landlord at any time terminate Tenant's right of possession upon a breach without terminating this Lease, in addition to any other remedies it may have, Landlord will also have the right to accelerate the entire indebtedness (including the amount of Base Rent and reasonably estimated Additional Rent reserved in this Lease for the remainder of the Term of Lease), reduce the same to present value using a discount rate of eight percent (8.0%), and recover a judgment from Tenant in that amount.
c. Landlord may, at its option, instead of exercising any other rights or remedies available to it in this Lease or otherwise by law, statute or equity, spend such money as is reasonably necessary to cure any default or violationof Tenant herein and the amount so spent, or attempted or threatened default or violation and costs incurred, including attorney's fees in curing such default, will be paid by Tenant, as Additional Rent, upon demand.
d. In the event suit is brought for recovery of any possession of the termsPremises, covenants, conditions for the recovery of rent or any other amount due under the provisions of this Lease, by injunctionor because of the breach of any other covenant herein contained on the part of the Tenant to be kept or performed, order of specific performance or other appropriate equitable relief. The remedies provided and a breach is established, Tenant will pay to Landlord hereunder are intended all expenses incurred therefore, including attorney's fees and costs, together with interest on all such expenses at the rate of fourteen percent (14%) per annum from the date of written and documented demand therefore to Tenant.
e. Tenant waives any demand for possession of the Premises, and any demand for payment of rent and any notice of intent to re-enter the Premises, or of intent to terminate this Lease, other than the notices above provided in this Article, and any other notice or demand prescribed by any applicable statutes or laws.
f. No remedy herein or elsewhere in this Lease or otherwise by law, statute or equity, conferred upon or reserved to Landlord or Tenant will be exclusive of any other remedy, but will be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a from time to time and as often as the occasion may arise. No waiver by Landlord or Tenant of performance by the other party will be considered a continuing waiver or will preclude Landlord or Tenant from exercising its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to rights in the same event of a subsequent default. Exercise No acceptance by Landlord of any one or more remedies hereunder granted or otherwise available shall not a partial payment tendered by Tenant will be deemed to be an acceptance or surrender a waiver of the Leased Premises by ▇▇▇▇▇▇balance of the amount due even if the tender states that acceptance will constitute payment in full.
g. Notwithstanding any provision to the contrary in this Lease, whether by agreement or by operation of lawTenant agrees that if Landlord is in default under this Lease, it being understood that such surrender can be affected only by Tenant will look exclusively to the written agreement interest of Landlord in the Building and ▇▇▇▇▇▇to offset against Base Rent and Additional Rent, and that Landlord, its partners, members, employees, agents, or representatives will not have any personal liability to pay any indebtedness hereunder or to perform any covenant contained herein and that no personal liability or personal responsibility of any sort is assumed by, nor will at any time be asserted or enforceable against Landlord, its partners, members, employees, agents or representatives. Tenant and all persons claiming by, through and under Tenant hereby expressly waive all such personal liability.
Appears in 1 contract
Sources: Commercial Lease (Aetrium Inc)
Default of Tenant. Each The occurrence of any of the following events shall constitute a default by Tenant under breach of this Lease:
(a) A. The failure of Tenant fails to pay rent or to make any amount other payment of money as herein required under this Lease as and when the same becomes due and said failure is not cured within for a period of ten (10) days after delivery by Landlord of a written notice thereof from Landlord; to Tenant of any such failure.
B. The expiration of a period of sixty (b60) days following (I) the adjudication of Tenant fails to perform as a bankrupt by any court of competent jurisdiction, (II) the entry of an order approving a petition filed by one other than Tenant, seeking reorganization of Tenant under the National Bankruptcy Act or any other term, conditionapplicable law of the United States or of any State, or obligation under (III) the appointment of a trustee or receiver of all or substantially all of the business of property of Tenant, or (IV) the levy of any attachments, execution or garnishment upon the interest of Tenant hereunder, or upon the leasehold estate hereby created, unless during such period such adjudication, order or appointment of a receiver or trustee, attachment, execution or garnishment shall be vacated or unless within such period Tenant shall have taken proper action to vacate such adjudication, order or appointment of a receiver or trustee, attachment, execution or garnishment, and in such event such occurrence shall not constitute a breach of this Lease until final adjudication of the matter.
C. The filing by Tenant of a voluntary petition in bankruptcy or the making of an assignment for the benefit of creditors; the consenting by Tenant to the appointment of a receiver or trustee of all or any part of its property, the filing by Tenant of a petition or answer seeking reorganization under the National Bankruptcy Act or any other applicable law, or the filing by Tenant of a petition to take advantage of any insolvency act.
D. The failure of Tenant to correct any default hereunder, other than those specified in subdivisions (A), (B), and said failure is not cured (C) of this Section 15 within thirty (30) days after delivery by Landlord to Tenant of a written notice thereof from Landlordof such default, or if the default is of such a nature that it cannot be corrected within thirty (30) days, then the failure of Tenant within such period to commence and thereafter proceed diligently to cure such default. Upon the occurrence of If any such default by Tenant, Landlord shall have the option to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Leaseabove-mentioned events of default shall occur, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord at its option may have for omission or arrearages in Rent, re-enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this LeasePremises, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default at its option terminate this Lease and accelerate all payments due or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇coming due hereunder.
Appears in 1 contract
Sources: Asset Purchase Agreement (Uci Medical Affiliates Inc)
Default of Tenant. Each of the following shall constitute a default by Tenant under this Lease:
(a) (I) If Tenant fails shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any amount required other charges or amounts under this Lease as when due or shall default in complying with its obligations under Subsection 6.1.11 of this Lease and when the same becomes due and said failure is not cured within if any such default shall continue for ten (10) days after written notice thereof from Landlord; (b) Tenant fails to perform any other term, conditionLandlord designating such default, or obligation under this Lease and said failure is not cured (II) if as promptly as possible but in any event within thirty (30) days after written notice thereof from Landlord. Upon Landlord to Tenant specifying any default or defaults other than those set forth in clause (I) Tenant has not cured the occurrence default or defaults so specified; or (b) if any assignment shall be made by Tenant for the benefit of creditors; or (c) if Tenant’s leasehold interest shall be taken on execution; or (d) if a lien or other involuntary encumbrance shall be filed against Tenant’s leasehold interest or Tenant’s other property, including said leasehold interest, and shall not be discharged within ten (10) days thereafter; or (e) if a petition shall be filed by Tenant for liquidation, or for reorganization or an arrangement under any provision of any bankruptcy law or code as then in force and effect; or (f) if an involuntary petition under any of the provisions of any bankruptcy law or code shall be filed against Tenant and such involuntary petition shall not be dismissed within thirty (30) days thereafter; or (g) if a custodian or similar agent shall be authorized or appointed to take charge of all or substantially all of the assets of Tenant; or (h) if Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation; or (i) if any order shall be entered in any proceeding by or against Tenant decreeing or permitting the dissolution of Tenant or the winding up of its affairs; or (j) if Tenant shall fail to pay any installment of Annual Fixed Rent or Additional Rent when due, Tenant shall cure such default by Tenantwithin the grace period provided in clause (a) (I) above (or with Landlord’s approval after the expiration of such grace period) and Tenant shall, Landlord shall have within the option next year following the date such initial defaulted payment was first due, fail more than once to pursue pay any one installment of Annual Fixed Rent or more of the following remedies without any additional notice or demand whatsoever: terminate this LeaseAdditional Rent when due, in which event Tenant shall immediately surrender the Leased Premises to Landlordthen, and if Tenant fails to do so in any of such cases indicated in clauses (a) through (j) hereof (collectively and individually, a “Default of Tenant”), Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided and not in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter give notice to Tenant terminating this Lease and the termsTerm hereof, covenantswhich notice shall specify the date of termination, conditions or other provisions whereupon on the date so specified, the Term of this Lease, by injunction, order Lease and all of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, Tenant’s rights and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or privileges under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available this Lease shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord expire and ▇▇▇▇▇▇terminate but Tenant shall remain liable as hereinafter provided.
Appears in 1 contract
Default of Tenant. Each of the following shall constitute a default by Tenant under this Lease:
(a) (I) If Tenant fails shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any amount required other charges or amounts under this Lease when due or shall default in complying with its obligations under Sections 4.4 or 6.1.11 of this Lease and if any such default shall continue for seven (7) Business Days after notice from Landlord designating such default, or (II) if as and when the same becomes due and said failure is promptly as possible but in any event within thirty (30) days after notice from Landlord to Tenant specifying any default or defaults other than those set forth in clause (I) Tenant has not cured the default or defaults so specified, or if such default is of such a nature that it cannot be cured within thirty (30) days using best efforts, if Tenant does not commence the curing of such default within such thirty-day period and thereafter diligently and {B2323618; 13} - 38 - continuously prosecute such cure to completion within such additional time as may be necessary, but in no event to exceed forty-five (45) days from the date of Landlord’s notice to Tenant specifying the default; or (b) if any assignment shall be made by Tenant for the benefit of creditors; or (c) if Tenant’s leasehold interest shall be taken on execution; or (d) if a lien or other involuntary encumbrance shall be filed against Tenant’s leasehold interest or Tenant’s other property which includes said leasehold interest, and shall not be discharged within ten (10) days after written Tenant has notice thereof from Landlordthereof; or (be) if a petition shall be filed by Tenant fails to perform any other term, conditionfor liquidation, or obligation for reorganization or an arrangement under this Lease any provision of any bankruptcy law or code as then in force and said failure is effect; or (f) if an involuntary petition under any of the provisions of any bankruptcy law or code shall be filed against Tenant and such involuntary petition shall not cured be dismissed within thirty (30) days after written notice thereof from Landlord. Upon thereafter; or (g) if a custodian or similar agent shall be authorized or appointed to take charge of all or substantially all of the occurrence assets of Tenant; or (h) if Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation; or (i) if any order shall be entered in any proceeding by or against Tenant decreeing or permitting the dissolution of Tenant or the winding up of its affairs; or (j) if Tenant shall fail to pay any installment of Annual Fixed Rent or Additional Rent when due, Tenant shall cure such default by Tenantwithin the grace period provided in clause (a) (I) above (or with Landlord’s approval after the expiration of such grace period) and Tenant shall, Landlord shall have within the option next year following the date such initial defaulted payment was first due, fail more than once to pursue pay any one installment of Annual Fixed Rent or more of the following remedies without any additional notice or demand whatsoever: terminate this LeaseAdditional Rent when due, in which event Tenant shall immediately surrender the Leased Premises to Landlordthen, and if Tenant fails to do so in any of such cases indicated in clauses (a) through (j) hereof (collectively and individually, a “Default of Tenant”), Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter (x) give notice to Tenant terminating this Lease and/or the term hereof, which notice shall specify the date of such termination, whereupon on the date so specified, the term of this Lease and all of Tenant’s rights and privileges under this Lease shall expire and terminate or (y) without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon terminating this Lease terminate Tenant's right of possession and/or occupancy and reenter and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises notice and expel or remove Tenant and any other person who may be occupying the Leased Premises or party claiming under Tenant and remove any part thereof of their effects, without being liable for prosecution on account thereof, whether in trespass or any claim for damages thereforbreach or covenant or otherwise, with (and no such reentry or without having terminated taking possession shall be construed as an election by Landlord to terminate this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Lease unless Landlord shall be entitled affirm such election by notice expressly to restrain any default or violationsuch effect), or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord but in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available either case Tenant shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇remain liable as hereinafter provided.
Appears in 1 contract
Sources: Lease Agreement (Pc Tel Inc)
Default of Tenant. (a) Each of the following events shall constitute a default (“Default”) by Tenant under this Lease:
: (ai) if Tenant fails to pay any amount Rent (or any installment thereof) within five (5) days after the same shall be due and payable, provided that Landlord shall not be obligated to provide such notice and opportunity to cure more than one (1) time in any twelve-month period, after which no further notice with respect to any such failure to pay shall be required for the twelve-month period succeeding such notice in order for a Default to have occurred under this Lease; (ii) if Tenant breaches or fails to observe or perform any term, condition or covenant of this Lease as (other than those involving the payment of Rent), and when such breach or failure is not cured within twenty (20) days after T▇▇▇▇▇’s receipt of notice thereof, unless such condition cannot reasonably be cured within such twenty (20) days, in which case Tenant must commence such cure within said twenty (20) days and diligently pursue said cure to its completion (provided, however, if such breach or failure creates a hazard, public nuisance or dangerous situation, said twenty (20) day grace period shall be reduced to forty eight (48) hours after T▇▇▇▇▇’s receipt of notice); (iii) if Tenant vacates or abandons the same becomes due Premises; (iv) if Tenant fails to carry and said maintain the insurance required by this Lease; (v) if Tenant fails to submit its plans and specifications for the Tenant Improvements to Landlord within the time periods provided for in Exhibit B and such failure is not cured within ten (10) days after written Tenant’s receipt of notice thereof from Landlordthereof; (vi) if Tenant effectuates a Transfer in violation of this Lease; or (vii) if Guarantor (if any) shall default in any of its obligations under the Guaranty (if any) or if there shall be a material decrease in the tangible net worth of Guarantor (if any).
(b) Tenant fails If a Default described in this Section occurs, Landlord shall have all the rights and remedies provided in this Section, in addition to perform any all other term, condition, or obligation rights and remedies available under this Lease and said failure is not cured within thirty or provided at law or in equity.
(30c) days after written notice thereof from Landlord. Upon the occurrence of any such default by event of Default described in this Section, Landlord may, upon notice to Tenant, Landlord shall have the option to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease, in which event or terminate Tenant’s right to possession of the Premises without terminating this Lease (as Landlord may elect). If the Lease or T▇▇▇▇▇’s right to possession under this Lease are at any time terminated under this Section, or otherwise, Tenant shall immediately surrender and deliver the Leased Premises peaceably to Landlord, and if . If Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstandingso, Landlord shall be entitled to restrain re-enter, without process and without notice (any default notice to quit or violationof re-entry being hereby expressly waived), using such force as may be reasonably necessary; and, alternatively, shall be entitled to the benefit of all provisions of law respecting the speedy recovery of possession of the Premises (whether by summary proceedings or attempted otherwise) any notice to quit or threatened default of re-entry being expressly waived.
(d) Upon the occurrence of any event of Default described in this Section, Landlord may also perform, on behalf and at the expense of Tenant, any obligation of Tenant under this Lease which Tenant fails to perform, the cost of which (together with an administrative fee equal to twenty percent (20%) of such cost to cover Landlord’s overhead in connection therewith) shall be paid by Tenant to Landlord upon demand. In performing any obligations of Tenant, Landlord shall incur no liability for any loss or violation damage that may accrue to Tenant, the Premises or Tenant’s Property by reason thereof, except if caused by Landlord’s willful, wanton and malicious act. The performance by Landlord of any such obligation shall not constitute a release or waiver of any of Tenant’s obligations under this Lease.
(e) Upon termination of this Lease or of Tenant’s right to possession under this Lease, Landlord may at any time and from time to time relet all or any part of the termsPremises for the account of Tenant or otherwise, covenantsat such rentals and upon such terms and conditions as Landlord shall deem appropriate. In the event that Landlord shall relet the Premises, conditions then rentals received by Landlord from such reletting shall be applied: first, to the payment of such expenses as Landlord may incur in recovering possession of the Premises, including legal expenses and attorneys’ fees, in placing the Premises in good order and condition and in preparing or other provisions altering the same for re-rental; second, to the payment of such expenses, commissions and charges as may be incurred by or on behalf of Landlord in connection with the reletting of the Premises; and third, to the fulfillment of the covenants of Tenant under the Lease, including the various covenants to pay Rent. Any reletting by Landlord shall not be construed as an election by Landlord to terminate this Lease unless notice of such intention is given by Landlord to Tenant. Notwithstanding any reletting without termination of this Lease, Landlord may at any time thereafter elect to terminate this Lease. In any event, Landlord shall not be liable for, nor shall Tenant’s obligations hereunder be diminished by injunctionreason of, order any failure by Landlord to relet the Premises or any failure by Landlord to collect any sums due upon such reletting.
(f) If this Lease, or T▇▇▇▇▇’s right to possession of specific performance the Premises, is terminated by Landlord pursuant to the provisions of this Section, Tenant nevertheless shall remain liable to Landlord for (a) any Rent, damages or other appropriate equitable relief. The remedies provided sums which may be due or sustained prior to Landlord hereunder are intended to be cumulativesuch termination, (b) all reasonable costs, fees and expenses (including attorneys’ fees, brokerage commissions, advertising costs, and may be exercised expenses incurred in placing the Premises in first-class rentable condition) incurred by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord pursuit of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed and in renting the Premises to be an acceptance or surrender of the Leased Premises by others from time to time; and (c) additional damages which at L▇▇▇▇▇▇▇’s election shall be either:
(i) an amount equal to the Rent which would have become due from the date of such termination through the expiration of the Term (or what would have been the expiration of the Term but for any termination thereof), whether less the net avails of reletting, if any, which Landlord receives during such period from others to whom the Premises may be rented (other than any Additional Rent received as a result of any failure of such other Person to perform any of its obligation to Landlord), which amount shall be due and payable by agreement Tenant to Landlord on the dates such Rent and other sums above specified are due under the Lease; any suit or by operation of law, it being understood that action brought to collect any such surrender can be affected only by damages for any month shall not in any manner prejudice the written agreement right of Landlord to collect any damages for any subsequent month by a similar proceeding; or
(ii) accelerated damages in an amount equal to the present value (as of the date of such termination) of Rent which would have become due through the expiration of the Term (or what would have been such expiration but for any termination thereof), which liquidated and agreed final damages shall be payable to Landlord in one lump sum on demand. For purposes of this Section, “present value” shall be computed by discounting such amount to present worth at a discount rate equal to one percentage point above the discount rate then in effect at the Federal Reserve Bank nearest to the location of the Building. Damages shall be due and payable immediately upon demand by Landlord following any termination of this Lease or T▇▇▇▇▇’s right to possession of the Premises pursuant to this Section.
(g) If, as the result of T▇▇▇▇▇’s Default at any time prior to the Lease Commencement Date, this Lease shall be terminated, Landlord and Tenant agree that, at Landlord’s sole option, Tenant shall pay to Landlord on account of such Default, as liquidated and agreed damages (and not as a penalty), immediately upon demand by Landlord, a sum equal to such amount as would have constituted one year’s Rent had the Rent Commencement Date occurred, the amount of any brokerage fees incurred by Landlord in connection with entering into this Lease with Tenant and any and all costs and expenses incurred by Landlord in performing any part of the Tenant Improvements as set forth in Exhibit B.
(h) No reference to any specific right or remedy in this Lease shall preclude Landlord from exercising any other right, from having any other remedy, or from maintaining any action to which it may otherwise be entitled under this Lease, at law or in equity.
Appears in 1 contract
Sources: Lease (Wellgistics Health, Inc.)
Default of Tenant. Each of the following shall be deemed a default by Tenant (“Tenant Default” or a “Default”):
(a) Failure to pay the Net Rent, Additional Rent or any other sums payable by Tenant hereunder as and when due and such default shall continue for a period of ten (10) calendar days after written notice from Landlord to Tenant. Notwithstanding the foregoing, if Tenant fails twice during any Lease Year to pay any Net Rent, Additional Rent or other amount when due, then any subsequent failure to pay Net Rent, Additional Rent or other amount when due during such Lease Year shall constitute a Tenant Default immediately upon occurrence, irrespective of whether or not Tenant has received written notice thereof.
(b) Failure to comply with any of the insurance requirements set forth in Section 10.1 or Exhibit 10.1 and such failure shall continue for a period of ten (10) calendar days after written notice from Landlord to Tenant.
(c) Failure to perform any act to be performed by Tenant hereunder or to comply with any provision, condition or covenant contained herein and such failure continues for more than thirty (30) calendar days after written notice of such failure is delivered to Tenant, or in the event of a default which cannot with due diligence be cured within such thirty (30) day period to commence to cure said default within thirty (30) days after such notice and to prosecute the curing of such default with due diligence and to complete the curing of said default within a reasonable time thereafter. Notwithstanding the foregoing, in the event Landlord determines that a Space Tenant or MOB Occupant is in violation of the use restrictions set forth in Section 5.1, Section 5.2, Section 5.3 or Section 5.7 hereof, Landlord shall deliver written notice thereof to Tenant, and Tenant shall not be deemed to be in default under this Lease provided that Tenant, immediately and in good faith, prosecutes with due diligence the resolution of a dispute as to whether Space Tenant is in violation of the use restrictions, and Tenant prosecutes the curing of such default immediately and with due diligence and completes such curing by eliminating or preventing such continued prohibited use within sixty (60) days after Landlord’s written notice.
(d) The filing by or against Tenant of a petition under the Bankruptcy Code, as amended, or under any similar law or statute of the United States or any State thereof (unless such petition is dismissed within sixty (60) days of the filing thereof); Tenant being adjudged bankrupt or insolvent in proceedings filed against Tenant thereunder; the making by Tenant of a general assignment for the benefit of creditors; Tenant’s taking the benefit of any insolvency action or law; the appointment of a permanent receiver or trustee in bankruptcy for Tenant or its assets; the appointment of a temporary receiver for Tenant or its assets if such temporary receivership has not been vacated or set aside within thirty (30) calendar days from the date of such appointment; the initiation of an arrangement or similar proceedings for the benefit of creditors by or against Tenant; or the dissolution or other termination of Tenant’s existence.
(e) Failure, after any applicable notice and cure period (i) to make payment when due, (ii) to perform any act to be performed by Tenant, or (iii) to comply with any provision, condition or amount contained in any Leasehold Mortgage or other instrument or agreement between Tenant and any Leasehold Mortgagee which constitutes a default under such Leasehold Mortgage or other instrument or agreement.
(f) The occurrence of any default by Tenant under any Approved Lease by and between Tenant and Landlord or an affiliate of Landlord, in each case beyond any applicable notice and cure period.
(g) Any other event expressly deemed to be a default by Tenant under this Lease:
(a) Tenant fails to pay any amount required under this Lease as and when the same becomes due and said failure is not cured within ten (10) days after written notice thereof from Landlord; (b) Tenant fails to perform any other term, condition, or obligation under this Lease and said failure is not cured within thirty (30) days after written notice thereof from Landlord. Upon the occurrence of any such default by Tenant, Landlord shall have the option to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇.
Appears in 1 contract
Sources: Ground Lease Agreement (CNL Healthcare Properties, Inc.)
Default of Tenant. Each (a) The occurrence of any one or more of the following events shall constitute a an event of default by Tenant under this Leasehereunder:
(ai) Tenant fails shall fail to pay when due any amount required under this Lease as rent or other charges payable hereunder and when the same becomes due and said such failure is not cured within shall continue for ten (10) days after Landlord shall have given Tenant written notice thereof from Landlordspecifying such failure; or
(bii) Tenant fails shall fail to perform any other term, condition, condition or obligation under covenant of this Lease and said failure is not cured shall fail to remedy the same within thirty (30) days after written notice thereof from Landlord. Upon the occurrence of any such default by Tenant, Landlord shall have given Tenant written notice specifying such failure; or
(iii) Tenant shall file or consent to the option filing of, a petition in bankruptcy or for reorganization or for the adoption of an arrangement under the Bankruptcy Act (as now or in the future amended); or by its making an assignment of all or of a substantial part of its property for the benefit of its creditors; or by the appointment of a receiver for all or a substantial part of its property and such receivership is not vacated within ninety (90) days; or by its being adjudicated a bankrupt or insolvent and such adjudication becoming final; or
(iv) Tenant shall abandon or surrender the demised premises or suffer this Lease to pursue be taken under any one writ of execution.
(b) If any event of default occurs, then Landlord, besides other rights or more remedies it may have, shall have the immediate right of re-entry and may remove all persons and property from the demised premises, and Landlord may either:
(i) terminate this Lease in which event Landlord shall be entitled to recover from Tenant the aggregate of:
(1) any unpaid rent and other charges which had been due and payable as of the following remedies date of termination;
(2) any unpaid rent and other charges which would have become due and payable after the date of termination throughout the remainder of the lease term reduced by any loss which Tenant proves could have been reasonably avoided.
(ii) without any additional notice or demand whatsoever: terminate terminating this Lease, in which event Tenant shall immediately surrender relet the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises demised primises or any part thereof, without being liable as the agent and for prosecution the account of Tenant upon such terms and conditions as Landlord may deem advisable, in which event the rents received on such reletting shall be applied first to the payment of any indebtedness other than rent due hereunder from Tenant to Landlord; second, to the payment of al1 costs and expenses of such reletting (including necessary renovation and alteration of the demised premises, reasonable attorneys’ fees and real estate commissions paid); third, to the payment of rent due and unpaid hereunder, and the residue, if any, to be held by Landlord and applied in payment of future rent as the same may become due and payable hereunder. If rentals received from such reletting during any month are less than the rent due hereunder, Tenant shall pay any such deficiency to Landlord monthly. No such re-entry or any claim of damages therefor; or enter upon and take taking possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, demised premises by Landlord shall be entitled construed as an election on its part to restrain terminate this Lease unless a written notice of termination is given by Landlord to Tenant. Notwithstanding any default or violationsuch reletting without termination, or attempted or threatened default or violation Landlord may at any time thereafter elect to terminate this Lease for such previous events of any of default, and in such event, the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to Section 23(b)(i) hereof shall be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇applicable.
Appears in 1 contract
Sources: Lease Agreement (Palace Entertainment Holdings, Inc.)
Default of Tenant. Each a. In the event of the following shall constitute a default by any failure of Tenant under this Lease:
(a) Tenant fails to pay any amount required under Rent due hereunder on the date the same shall be due, or any failure to perform any other of the terms, conditions or covenants of this Lease as and when the same becomes due and said failure is not cured within ten to be observed or performed by Tenant for more than twenty (1020) days after written notice thereof from Landlord; of such failure shall have been given to Tenant (b) Tenant fails to perform any other term, condition, or obligation under this Lease and said failure is if the default cannot be reasonably cured within said thirty (30) days after written notice thereof from Landlord. Upon day period and Tenant fails promptly to commence with due diligence and dispatch the occurrence curing of such default within said thirty (30) day period), or if Tenant or an agent of Tenant shall falsify any report required to be furnished to Landlord pursuant to the terms of this Lease, or if Tenant or any guarantor of this Lease shall become bankrupt or insolvent, or file any debtor proceedings or any person shall take or have against Tenant or any guarantor of this Lease in any court pursuant to any statute either of the United States or of any state a petition of bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Tenant's or any such guarantor's property, or if Tenant or any such guarantor makes an assignment for the benefit or creditors, or petitions for or enters into an arrangement, or if Tenant shall abandon the Premises or suffer this Lease to be taken under any writ of execution, then in any such event Tenant shall be in default by Tenanthereunder, Landlord and Landlord, in addition to other rights or remedies it may have, shall have the option to pursue any one immediate right of re-entry and may remove all persons and property from the Premises and such property may be removed and stored in a public warehouse or more elsewhere at the cost of, and for the account of the following remedies Tenant, all without any additional service of notice or demand whatsoever: terminate this Leaseresort to legal process and without being guilty of trespass, in or becoming liable for any loss or damage which event Tenant shall immediately surrender may be occasioned thereby.
b. Should Landlord elect to re-enter the Leased Premises to LandlordPremises, and if Tenant fails to do so Landlord mayas herein provided, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and should it take possession of the Leased Premises pursuant to legal proceedings or pursuant to any notice provided for by law, it may either terminate this Lease or it may from time to time, without terminating this Lease, make such alterations and expel or remove Tenant and any other person who repairs as may be occupying necessary in order to relet the Leased Premises or any part thereofPremises, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of relet the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable upon such term or terms (which may be for prosecution or any claim for damages therefor, with or without having terminated a term extending beyond the Term of this Lease) and at such rental and upon such other terms and conditions as Landlord in its sole discretion may deem advisable. In addition Upon each such subletting all rentals received by Landlord from such reletting shall be applied first to the payment of any indebtedness other remedies provided in this Leasethan Rent due hereunder from Tenant to Landlord; second, and anything contained herein to the contrary notwithstandingpayment of any costs and expenses of such reletting, including brokerage fees and reasonable attorney's fees and costs of such alterations and repairs; third, to the payment of the Rent due and unpaid payment of future Rent as the same may become due and payable hereunder. If such rentals received from such reletting during any month be less than that to be paid during that month by Tenant hereunder, Tenant, upon demand, shall pay any such deficiency to Landlord. No such re-entry or taking possession of the Premises by Landlord shall be construed as an election on its part to terminate this Lease unless a written notice of such intention is given to Tenant or unless the termination thereof is decreed by a court of competent jurisdiction. Notwithstanding any such reletting without termination, Landlord may at any time after such re-entry and reletting elect to terminate this Lease for any such breach, in addition to any other remedies it may have, it may recover from Tenant all damages it may incur by reason of such breach, including the cost of recovering the Premises, reasonable attorney's fees, and including the worth at the time of such termination of the excess, if any, of the amount of rental and charges equivalent to Rent reserved in this Lease for the remainder of the stated term, minus the amount of rental loss which Tenant proves could have been reasonably avoided, all of which amounts shall be immediately due and payable from Tenant to Landlord. Landlord shall also be entitled to restrain any other amounts necessary to compensate Landlord for all detriment proximately caused by Tenant’s failure to comply with the requirements of this Lease.
c. Landlord may, at its option, instead of exercising any other rights or remedies available to it in this Lease or otherwise by law, statute or equity, spend such money as is reasonably necessary to cure any default or violationof Tenant herein and the amount so spent, or attempted or threatened default or violation and costs incurred, including reasonable attorney's fees in curing such default, shall be paid by Tenant, as Additional Rent, upon demand.
d. In the event suit shall be brought for recovery of possession of the Premises, for the recovery of Rent of any of other amount due under the terms, covenants, conditions or other provisions of this Lease, by injunctionor because of the breach of any other covenant herein contained on the part of Tenant to be kept or performed, order of specific performance or other appropriate equitable relief. The remedies provided and a breach shall be established, Tenant shall pay to Landlord hereunder are intended all expenses incurred therefore, including a reasonable attorney's fee, together with interest on all such expenses at the rate of ten percent (10%) per annum from the date of such breach of the covenants of this Lease.
f. No remedy herein or elsewhere in this Lease or otherwise by law, statute or equity, conferred upon or reserved to Landlord or Tenant shall be exclusive of any other remedy, but shall be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right from time to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to time and as often as the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇occasion may arise.
Appears in 1 contract
Sources: Commercial Lease (Celcuity Inc.)
Default of Tenant. Each If and whenever all or part of the following shall constitute a default Minimum Rent or any other amounts payable by the Tenant under this Lease:
Lease are not paid on the day appointed for payment, whether demand for payment has been made or not, or if the Tenant shall fail to comply with any of the covenants hereunder after the Landlord has given notice to the Tenant in writing stating the default with reasonably sufficient particulars and requiring it to be remedied and such default has not been remedied by the Tenant within fourteen (a) Tenant fails to pay any amount required under this Lease as and when the same becomes due and said failure is not cured within ten (1014) days after written receipt of such notice, or such longer period as may be reasonably necessary in view of the nature of the default, or if the Tenant shall falsify any report required to be furnished to the Landlord pursuant to the terms of this Lease or if the Tenant or any indemnifier of this Lease shall become bankrupt or insolvent or file any proposal, or if a Receiver is appointed of all or a portion of the Tenant’s property or any such indemnifier’s property, or if the Tenant makes a sale in bulk, or if the Tenant shall abandon the Premises, or suffer this Lease or any of its assets to be taken under any writ of execution or like process, or if the Tenant creates a security interest in the personal property of the Tenant in the Premises in favour of a third party or if any notice thereof from Landlord; (b) Tenant fails to perform is filed under section 49 of the Personal Property Security Act in respect of the Premises or if re-entry is permitted under any other termterms of this Lease, conditionthen the Landlord, in addition to any other rights or obligation under this Lease and said failure is not cured within thirty (30) days after written notice thereof from Landlord. Upon the occurrence of any such default by Tenantremedies it may have, Landlord shall have the option to pursue any one or more immediate right of re-entry and may remove all persons and property from the Premises and such property may be removed and stored for the account of the following remedies without any additional notice Tenant or demand whatsoever: terminate this Lease, in which event Tenant shall immediately surrender be sold by the Leased Premises to Landlord (and at the sole option of the Landlord, by way of private sale to the Landlord or any third party) all without being deemed guilty of trespass, or becoming liable for any loss or damage which may be occasioned thereby and if Tenant fails to do so have again, repossess and enjoy the Premises as of its former estate whether the Landlord mayterminates this Lease or not, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take notwithstanding the retaking of possession of the Leased Premises by the Landlord, the Landlord specifically reserves all remedies and expel rights of action herein or remove Tenant and any other person who may be occupying the Leased Premises at law or any part thereof, without being liable for prosecution in equity provided. The Landlord or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord its duly authorized agent shall be entitled to restrain any default or violationdistrain for the Rent hereby reserved including accelerated rent, if any, or attempted for any money hereby made recoverable by distress upon the goods and chattels of the Tenant, wheresoever situate, and upon any premises to which the same may have been removed or threatened default or violation wherever the same may be found. The Tenant hereby waives and renounces the benefit of any present or future legislation taking away or limiting a Landlord’s right of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇distress.
Appears in 1 contract
Sources: Lease Agreement
Default of Tenant. Each of the following If Tenant shall constitute a default by Tenant under this Lease:
(a) Tenant fails fail to pay any amount required under this Lease monthly installment of rent as aforesaid (although no legal or formal demand has been made therefor), or shall violate or fail to perform any of the other conditions, covenants or agreements herein made by Tenant, and when the same becomes due and said such failure is not cured within to pay rent or such violation or failure shall continue for a period of ten (10) days after written notice thereof from to Tenant by Landlord; (b) Tenant fails , then and in any of said events this Lease shall, at the option of Landlord, cease and terminate and shall operate as a notice to perform quit, any other term, conditionnotice to quit, or obligation of Landlord’s intention to re-enter, being hereby expressly waived, and Landlord may proceed to recover possession under and by virtue of the provisions of the laws of the State of Maryland, or by such other proceedings, including re-entry and possession, as may be applicable. If Landlord elects to terminate this Lease, everything herein contained on the part of Landlord to be done and performed shall cease without prejudice, however, to the right of Landlord to recover from Tenant all rental accrued up to the time of termination or recovery of possession by Landlord, whichever is later. Should this Lease by reason of Tenant’s default as hereinabove provided, or if Tenant shall abandon or vacate the Demised Premises before the expiration or termination of the Term of this Lease, the Demised premises may be relet by Landlord for such rent and upon such terms as are not unreasonable under the circumstances and, if the full rental hereinabove provided shall not be realized by Landlord, Tenant shall be liable for all damages sustained by Landlord, including, without limitation, deficiency in rent, reasonable attorneys’ fees, brokerage fees, and expenses of placing the Demised Premises in first class rentable condition. Any damage or loss of rental sustained by Landlord may be recovered by Landlord, at Landlord’s option, at the time of the reletting, or in separate actions, from time to time, as said failure is not cured within thirty (30) days after written notice thereof from Landlord. Upon the occurrence of any such default by Tenant, Landlord damage shall have been made more easily ascertainable by successive relettings, or, at Landlord’s option, may be deferred until the option to pursue any one or more expiration of the following remedies without any additional notice or demand whatsoever: terminate term of this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession cause of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available action shall not be deemed to have accrued until the date of expiration of said term. If Landlord should commence any summary proceeding for non-payment of rent by Tenant, Tenant shall not interpose any counterclaim of any nature or description in any such proceeding. The provisions contained in this paragraph shall be an acceptance or surrender in addition to and shall not prevent the enforcement of any claim Landlord may have against Tenant for anticipatory breach of the Leased unexpired term of this Lease. In the event that Tenant continues to occupy the Demised Premises by ▇▇▇▇▇▇after the expiration of the term of this Lease, whether by agreement with the express or by operation implied consent of lawLandlord, it being understood that such surrender can tenancy shall be affected only by from month-to-month and shall not be renewal of the written agreement term of this Lease or tenancy from year-to year. All rights and remedies of Landlord under this Lease shall be cumulative and ▇▇▇▇▇▇shall not be exclusive of any other rights and remedies provided to Landlord under applicable law.
Appears in 1 contract
Sources: Lease Agreement (Tvi Corp)
Default of Tenant. Each The occurrence of any of the following events shall constitute a default by Tenant under breach of this Lease:
(a) A. The failure of Tenant fails to pay rent or to make any amount other payment of money as herein required under this Lease as and when the same becomes due and said failure is not cured within for a period of ten (10) days after delivery by Landlord of a written notice thereof from Landlord; to Tenant of any such failure.
B. The expiration of a period of sixty (b60) days following (I) the adjudication of Tenant fails to perform as a bankrupt by any court of competent jurisdiction, (II) the entry of an order approving a petition filed by one other than Tenant, seeking reorganization of Tenant under the National Bankruptcy Act or any other term, conditionapplicable law of the United States or of any State, or obligation under (III) the appointment of a trustee or receiver of all or substantially all of the business or property of Tenant, or (IV) the levy of any attachments, execution or garnishment upon the interest of Tenant hereunder, or upon the leasehold estate hereby created, unless during such period such adjudication, order or appointment of a receiver or trustee, attachment, execution or garnishment shall be vacated or unless within such period Tenant shall have taken proper action to vacate such adjudication, order or appointment of a receiver or trustee, attachment, execution or garnishment, and in such event such occurrence shall not constitute a breach of this Lease until final adjudication of the matter.
C. The filing by Tenant of a voluntary petition in bankruptcy or the making of an assignment for the benefit of creditors, the consenting by Tenant to the appointment of a receiver or trustee of all or any part of its property, the filing by Tenant of a petition or answer seeking reorganization under the National Bankruptcy Act or any other applicable law, or the filing by Tenant of a petition to take advantage of any insolvency act.
D. The failure of Tenant to correct any default hereunder, other than those specified in subdivisions (A), (B), and said failure is not cured (C) of this Section 15 within thirty (30) days after delivery by Landlord to Tenant of a written notice thereof from Landlordof such default, or if the default is of such a nature that it cannot be corrected within thirty (30) days, then the failure of Tenant within such period to commence and thereafter proceed diligently to cure such default. Upon the occurrence of If any such default by Tenant, Landlord shall have the option to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Leaseabove-mentioned events of default shall occur, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord at its option may have for omission or arrearages in Rent, re-enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this LeasePremises, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default at its option terminate this Lease and accelerate all payments due or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇coming due hereunder.
Appears in 1 contract
Default of Tenant. Each a. In the event of the following shall constitute a default by any failure of Tenant under this Lease:
(a) Tenant fails to pay any amount required under this Lease as and when rental due hereunder within ten (10) days after the same becomes due and said due, or any failure is not cured within to perform any other terms, conditions or covenants of this Lease to be observed or performed by Tenant for more than ten (10) days after written notice thereof from Landlord; (b) Tenant fails of such failure has been given to perform any other term, conditionTenant, or obligation under this Lease and said failure is not cured within thirty (30) days after written notice thereof from Landlord. Upon if Tenant or an agent of Tenant falsifies any report required to be furnished to Landlord pursuant to the occurrence terms of any such default by Tenant, Landlord shall have the option to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease, or if Tenant or any guarantor of this Lease becomes bankrupt or insolvent, or file any debtor proceedings or any person takes or has against Tenant or any guarantor of this Lease in which any court pursuant to any statute either of the United States or of any state a petition in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Tenant’s or any such guarantor’s property, or if Tenant or any such guarantor’s property, or if Tenant or any such guarantor makes an assignment for the benefit of creditors, or petitions for or enters into an arrangement with its creditors, or if Tenant abandons the Premises or suffer this Lease to be taken under any writ of execution, then in any such event Tenant shall immediately surrender the Leased Premises to will be in default hereunder, and Landlord, in addition to other rights of remedies it may have, will have the immediate right of re-entry and if Tenant fails to do so Landlord maymay remove all persons and property from the Premises and such property may be removed and stored in a public warehouse or elsewhere at the cost of, and for the account of Tenant, without prejudice being guilty of trespass, or becoming liable for any loss or damage which may be occasioned thereby.
b. Should Landlord elect to any other remedy which Landlord may have for omission re-enter the Premises, as herein provided, or arrearages in Rent, enter upon and should it take possession of the Leased Premises pursuant to legal proceedings or pursuant to any notice provided for by law, it may either terminate this Lease or it may from time to time, without terminating this Lease, make such alterations and expel or remove Tenant and any other person who repairs as may be occupying necessary in order to re-let the Leased Premises or any part thereofPremises, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of re-let the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof for such term or terms (which may be for a term extending beyond the term of this Lease) and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable. Upon each such subletting all rentals received by the Landlord from such re-letting will be applied first to the payment of any indebtedness other than rent due hereunder from Tenant to Landlord; second, to the payment of any costs and expenses of such re-letting, including brokerage fees and attorney’s fees and costs of such alterations and repairs; third, to the payment of the rent due and unpaid hereunder, and the residue, if any will be held by Landlord and applied in payment of future rent as the same may become due and payable hereunder. If such rentals received from such re-letting during any month be less than that to be paid during that month by Tenant hereunder, Tenant, upon demand, will pay any such deficiency to Landlord. No such re-entry or taking possession of the Premises by Landlord will be construed as an election on its part to terminate this Lease unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding any such re-letting without being liable termination, Landlord may at any time after such re-entry and re-letting elect to terminate this Lease for prosecution such previous breach. Should Landlord at any time terminate this Lease for any such breach, in addition to any other remedies it may have, it may recover from Tenant all damages it may incur by reason of such breach, including the cost of recovering the Premises, attorney’s fees, and costs, the unamortized portion of any leasehold improvements made by Landlord for Tenant and including the worth at the time of such termination of the excess, if any, of the amount of rent and charges equivalent to rent reserved in this Lease for the remainder of the stated term over the then reasonable rental value of the Premises for the remainder of the stated term, all of which amounts will be immediately due and payable from Tenant to Landlord.
c. Landlord may, at its option, instead of exercising any other rights or remedies available to it in this Lease or otherwise by law, statute or equity, spend such money as is reasonably necessary to cure any default of Tenant herein and the amount so spent, and costs incurred, including attorney’s fees in curing such default, will be paid by Tenant, as additional rent, upon demand.
d. In the event suit is brought for recovery of possession of the Premises, for the recovery of rent or any claim for damages therefor, with or without having terminated this Lease. In addition to other amount due under the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunctionor because of the breach of any other covenant herein contained on the part of the Tenant to be kept or performed, order of specific performance or other appropriate equitable relief. The remedies provided and a breach is established, Tenant will pay to Landlord hereunder are intended all reasonable expenses incurred therefor, including attorney’s fees and costs.
e. Tenant waives any demand for possession of the Premises, and any demand for payment of rent and any notice of intent to re-enter the Premises, or of intent to terminate this Lease, other than the notices above provided in this Article, and any other notice or demand prescribed by any applicable statutes or laws.
f. No remedy herein or elsewhere in this Lease or otherwise by law, statute or equity, conferred upon or reserved to Landlord or Tenant will be exclusive of any other remedy, but will be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right from time to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to time and as often as the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇occasion may arise.
Appears in 1 contract
Sources: Commercial Lease (Aetrium Inc)
Default of Tenant. Each This Agreement may be terminated at any time by HRM on criteria for default of the following shall constitute a default by Tenant under this Lease:
(a) Tenant fails to pay any amount required under this Lease as and when the same becomes due and said failure is not cured within ten (10) days after written notice thereof from Landlord; (b) Tenant fails to perform any other term, condition, or obligation under this Lease and said failure is not cured within thirty (30) days after written notice thereof from LandlordTenant. Upon the occurrence of any such default by Tenant, The Landlord shall have the option right at any time to pursue remedy or attempt to remedy any one or more default of the following remedies without Tenant hereunder, and in so doing to make any additional notice payments due or demand whatsoeveralleged to be due by the Tenant to a third party and may enter upon the leased premises to do any work or repairs for which the Tenant is responsible under this Facility Lease Agreement and in such event all expenses of the Landlord in remedying or attempting to remedy such default shall be recoverable by the Landlord from the Tenant. Payment in full or through payment plan will be arranged with HRM. Interest will be factored into the outstanding debt based on determination of HRM. The Landlord may decide to terminate and re-enter upon the leased premises for reasons which include but are not limited to the following: terminate •the Tenant is incapable of day to day program or facility operation •facility needs to be protected against vandalism, theft, pipes freezing, activity contrary to public safety •the Tenant became in danger of bankruptcy or foreclosure actions •facility being used contrary to the terms of the Agreement to the deterrent of HRM •facility use and programming creates hardship to the immediate residents •the Tenant cannot successfully obtain legal Registered Non Profit Society Status (may also include Federal Charitable Status) •the Tenant does not maintain current General Liability Insurance •any unauthorized assignment of subletting of this Lease, in which event lease by the Tenant •unauthorized facility change that effects the Landlords building insurance •the Tenant shall immediately surrender not observe, perform and keep all and every one of the Leased Premises covenants, agreements, provisions, stipulations and conditions herein contained to Landlordbe observed, performed and if kept by the Tenant fails •if the leased premises shall become vacant In the event of a claim for debt, damages or indemnity by the Landlord against the Tenant, the Landlord shall have the right to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon seize and take possession of any equipment, furniture or other property of any nature whatsoever situated on the Leased Premises leased premises and expel to sell the same at public or remove private sale without notice and to apply the proceeds thereof upon the account of Tenant. The Tenant and any other person who may shall continue to be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided Landlord for the deficiency if any and the Tenant hereby waives and renounces the benefit of any present or future Act in this Leaseforce in Canada or in the Province of Nova Scotia which takes away or limits the Landlord's rights, and anything contained herein to that the contrary notwithstanding, Landlord shall be entitled to restrain any default may seize and sell the Tenant's goods and chattels as fully as the Landlord might have done if such Act had not been enacted or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇passed.
Appears in 1 contract
Sources: Facility Lease Agreement
Default of Tenant. Each a. In the event of the following shall constitute a default by any failure of Tenant under this Lease:
(a) Tenant fails to pay any amount required under rental due hereunder within five (5) days after receipt of written notice that the same is due (provided, however, that Landlord shall have the obligation to provide written notice of a rental default only one (1) time during any twelve (12) month period), or any failure to perform any other of the terms, conditions or covenants of this Lease as and when the same becomes due and said failure is not cured within ten to be observed or performed by Tenant for more than twenty (1020) days after written notice of such failure shall have been given to Tenant, or such additional time as may be necessary if such failure cannot be cured within such twenty (20) day period, or if Tenant or an agent of Tenant shall falsify any report required to be furnished to Landlord pursuant to the terms of this Lease, or if Tenant shall become bankrupt, or file any debtor proceedings or any person shall take or have against Tenant in any court pursuant to any statue either of the United States or of any state a petition of bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Tenant’s property, and such proceeding is not removed within sixty (60) days after filing, or if Tenant or any such guarantor makes an assignment for the benefit or creditors, or petitions for or enters into such an arrangement, or if Tenant shall suffer this Lease to be taken under any writ of execution, then in any such event Tenant shall be in default hereunder, and Landlord, in addition to other rights of remedies it may have, shall have the immediate right or re-entry and may remove all persons and property from the Premises and such property may be removed and stored in a public warehouse or elsewhere at the cost of, and for the account of Tenant, all without service of notice or resort to legal process and without being guilty of trespass, or becoming liable for any loss or damage which may be occasioned thereby.
b. Should Landlord elect to re-enter the Premises, as herein provided, or should it take possession of the Premises pursuant to legal proceedings or pursuant to any notice provided for by law, it may either terminate this Lease or it may from time to time, without terminating this Lease, make such alterations and repairs as may be necessary in order to relet the Premises, and relet the Premises or any part thereof upon such term or terms (which may be for a term extending beyond the term of this Lease) and at such rental or rentals and upon such other terms and conditions as Landlord in its reasonable discretion may deem advisable. Upon each such subletting all rentals received by Landlord from such reletting shall be applied first to the payment of any indebtedness other than rent due hereunder from Tenant to Landlord; second, to the payment of any costs and expenses of such reletting, including brokerage fees and attorney’s fees and costs of such reasonable alterations (bconsistent with office use) and repairs; third, to the payment of the rent due and unpaid payment of future rent as the same may become due and payable hereunder. If such rentals received from such reletting during any month be less than that to be paid during that month by Tenant fails hereunder, Tenant, upon demand, shall pay any such deficiency to perform Landlord. No such re-entry or taking possession of the Premises by Landlord shall be construed as an election on its part to terminate this Lease unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding any such reletting without termination, Landlord may at any time after such re-entry and reletting elect to terminate this Lease for any such breach, in addition to any other remedies it may have, it may recover from Tenant all damages it may incur by reason of such breach, including the cost of recovering the Premises, reasonable attorney’s fees, and including the worth at the time of such termination of the excess, if any, of the amount of rent and charges equivalent to rent reserved in this Lease for the remainder of the stated term, conditionminus the amount of rental loss which Tenant proves could have been reasonably avoided, all of which amounts shall be immediately due and payable from Tenant to Landlord. Landlord shall also be entitled to any other amounts necessary to compensate Landlord for all detriment proximately caused by Tenant’s failure to comply with the requirements of this Lease, excluding, however, consequential damages.
c. Landlord may, at its option, instead of exercising any other rights or obligation under remedies available to it in this Lease and said failure is not cured or otherwise by law, statue or equity, if Tenant has failed to cure the default within thirty (30) days after receipt of written notice thereof from Landlord. Upon , spend such money as is reasonably necessary to cure any default of Tenant herein and the occurrence of any amount so spent, and costs incurred, including attorney’s fees in curing such default default, shall be paid by Tenant, Landlord and additional rent, upon demand.
d. In the event suit shall have the option to pursue any one or more be brought for recovery of the following remedies without any additional notice or demand whatsoever: terminate this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and Premises, for the recovery of rent of any other person who may be occupying amount due under the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunctionor because of the breach of any other covenant herein contained on the part of Tenant to be kept or performed, order of specific performance or other appropriate equitable relief. The remedies provided and a breach shall be established, Tenant shall pay to Landlord hereunder are intended all expenses reasonably incurred therefor, including a reasonable attorney’s fee, together with interest on all such expenses at the rate of ten percent (10%) per annum from the date of such breach of the covenants of this Lease.
e. Tenant waives any demand for possession of the Premises, and any demand for payment of rent and any notice of intent to re-enter the Premises, or of intent to terminate this Lease, other than the notices above provided in this Article, and waives any and every other notice or demand prescribed by any applicable statues or laws.
f. No remedy herein or elsewhere in this Lease or otherwise by law, statue or equity, conferred upon or reserved to Landlord or Tenant shall be exclusive of any other remedy, but shall be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right from time to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to time and as often as the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇occasion may arise.
Appears in 1 contract
Sources: Commercial Lease (Ciprico Inc)
Default of Tenant. Each of the following If tenant shall constitute a default by Tenant under this Lease:
(ai) Tenant fails fail to pay any amount monthly installment of rent (as required under this Lease as by Article 3 hereof) or shall fail to timely make any other payment required by the terms and when provisions hereof (although no legal or formal demand has been therefore) , or (ii) violate or fail to perform any of the same becomes due other terms, conditions, covenants or agreements herein made by tenant, or (iii) abandon or vacate the premises, and said such failure is not cured within ten to pay rent, such other violation or failure or such abandonment shall continue for a period of time of five (105) days after written notice thereof to Tenant by landlord, or (iv) make or consent to an assignment for the benefit of creditors or a common law composition of creditors, or receiver of Tenant's assets is appointed or tenant files a voluntary petition in any bankruptcy or insolvency proceeding, or an involuntary proceeding is filed against Tenant and not discharged by the Tenant within sixty (60) days, or Tenant is adjudicated a bankrupt, then, and in any of said events, this lease shall, at the option of the landlord, cease and terminate and the provisions of this Article "15" shall automatically operate as a notice to quit--any notice to quit, or of Landlords intention to re-enter, required by law or otherwise being hereby expressly waived--and Landlord may proceed to recover possession under and by virtue of the provisions of the laws of the State of Maryland or by such other proceedings, including re-entry and possession, as may be applicable. If landlord elects to terminate this lease, everything contained in this Lease on the part of the Landlord to be done and performed shall cease without prejudice, however, to the right of the Landlord to recover from Landlord; (b) Tenant fails to perform tenant all rent and any other termsums accrued up to the time of termination or recovery of possession by the landlord, conditionwhichever is later. Should this Lease be terminated before the expiration of the term of this Lease by reason of Tenant's default as hereinabove provided, or obligation under if tenant shall abandon or vacate the premises before the expiration date of the term of this Lease the premises may be relet by landlord for such rent and upon such terms as are not unreasonable under the circumstances and, if the full rental hereinabove provided (and any other costs, expenses, or damages indicated below) shall not be realized Landlord, Tenant shall be liable for all damages sustained by landlord including, without limitation, deficiency in rent, reasonable attorney's fees, real estate brokers' or agents fees and commissions, and expenses of placing the premises in first class rentable condition. Any damage or loss of rent sustained by Landlord may be recovered by Landlord, at Landlords' option, at the time of the relettings, or in separate actions, from time to time, as said failure is not cured within thirty (30) days after written notice thereof from Landlord. Upon the occurrence of any such default by Tenant, Landlord damages shall have the option to pursue any one or been made more easily ascertainable by successive expiration of the following remedies without any additional notice or demand whatsoever: terminate term of this Lease, in which event Tenant shall immediately surrender hereby agrees that the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession cause of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available action shall not be deemed to have occurred until the date of expiration of said term. The provisions contained in this paragraph shall be an acceptance or surrender in addition to and shall not prevent the enforcement of any claim Landlord may have against tenant for anticipatory breach of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation unexpired term of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇this Lease.
Appears in 1 contract
Sources: Commercial Lease (Hunapu Inc)
Default of Tenant. Each of the following shall constitute a default by Tenant under this Lease:
(a) (I) If Tenant fails shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any amount required other charges or amounts under this Lease as when due or shall default in complying with its obligations under Subsection 6.1.11 of this Lease and when the same becomes due and said failure is not cured within ten if any such default shall continue for five (105) business days after written notice thereof from Landlord; (b) Tenant fails to perform any other term, conditionLandlord designating such default, or obligation under this Lease and said failure is not cured (II) if as promptly as possible but in any event within thirty (30) days after written notice thereof from Landlord. Upon Landlord to Tenant specifying any default or defaults other than those set forth in clause (I) Tenant has not cured the occurrence default or defaults so specified, provided that if Tenant has taken immediate steps to cure such default and the nature of the default requires more than thirty (30) days to cure, Tenant shall, so long as Tenant is diligently pursuing a cure, have such additional time as is reasonably necessary; or (b) if any assignment shall be made by Tenant for the benefit of creditors; or (c) if Tenant’s leasehold interest shall be taken on execution; or (d) if a lien or other involuntary encumbrance shall be filed against Tenant’s leasehold interest or Tenant’s other property, including said leasehold interest, and shall not be discharged within ten (10) days after Tenant has knowledge of the same, unless Tenant has timely contested such encumbrance in good faith and has furnished to Landlord security reasonably acceptable to Landlord with respect to Tenant’s obligation to discharge such lien or encumbrance; or (e) if a petition shall be filed by Tenant for liquidation, or for reorganization or an arrangement under any provision of any bankruptcy law or code as then in force and effect; or (f) if an involuntary petition under any of the provisions of any bankruptcy law or code shall be filed against Tenant and such involuntary petition shall not be dismissed within thirty (30) days thereafter; or (g) if a custodian or similar agent shall be authorized or appointed to take charge of all or substantially all of the assets of Tenant; or (h) if Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation; or (i) if any order shall be entered in any proceeding by or against Tenant decreeing or permitting the dissolution of Tenant or the winding up of its affairs; or (j) if Tenant shall fail to pay any installment of Annual Fixed Rent or Additional Rent when due, Tenant shall cure such default by Tenantwithin the grace period provided in clause (a) (I) above (or with Landlord’s approval after the expiration of such grace period) and Tenant shall, Landlord shall have within the option next year following the date such initial defaulted payment was first due, fail more than twice to pursue pay any one installment of Annual Fixed Rent or more of the following remedies without any additional notice or demand whatsoever: terminate this LeaseAdditional Rent when due, in which event Tenant shall immediately surrender the Leased Premises to Landlordthen, and if Tenant fails to do so in any of such cases indicated in clauses (a) through (j) hereof (collectively and individually, a “Default of Tenant”), Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided and not in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter give notice to Tenant terminating this Lease and the termsTerm hereof, covenantswhich notice shall specify the date of termination, conditions or other provisions whereupon on the date so specified, the Term of this Lease, by injunction, order Lease and all of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, Tenant’s rights and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or privileges under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available this Lease shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord expire and ▇▇▇▇▇▇terminate but Tenant shall remain liable as hereinafter provided.
Appears in 1 contract
Sources: Lease (Liquid Holdings Group, Inc.)
Default of Tenant. Each The occurrence of any of the following shall constitute a default of this Lease by Tenant under this Lease:
(collectively and individually, a “Default of Tenant”): (a) (I) If Tenant fails shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any amount required other charges or amounts under this Lease as and when the same becomes due and said failure is not cured within ten if any such default shall continue for three (103) days after written notice thereof from Landlord; (b) Tenant fails to perform any other term, condition, Landlord designating such default or obligation shall default in complying with its obligations under Sections 4.4 or 6.1.11 of this Lease and said failure if any such default shall continue for five (5) days after notice from Landlord designating such default, or (II) if as promptly as possible but in any event within thirty (30) days after notice from Landlord to Tenant specifying any default or defaults other than those set forth in clause (I) Tenant has not cured the default or defaults so specified, or if such default is of such a nature that it cannot be cured within thirty (30) days after written using best efforts, if Tenant does not commence the curing of such default within such thirty-day period and thereafter diligently and continuously prosecute such cure to completion within such additional time as may be necessary, but in no event to exceed forty-five (45) days from the date of Landlord’s notice thereof from Landlord. Upon to Tenant specifying the occurrence default; or (b) if any assignment shall be made by Tenant for the benefit of creditors; or (c) if Tenant’s leasehold interest shall be taken on execution; or (d) if a lien or other involuntary encumbrance shall be filed against Tenant’s leasehold interest or Tenant’s other property, including said leasehold interest, and shall not be discharged within sixty (60) days thereafter; or (e) if a petition shall be filed by Tenant for liquidation, or for reorganization or an arrangement under any provision of any such default by Tenant, Landlord shall have the option to pursue any one bankruptcy law or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease, code as then in which event Tenant shall immediately surrender the Leased Premises to Landlord, force and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages thereforeffect; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of (f) if an involuntary petition under any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance any bankruptcy law or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to code shall be cumulative, filed against Tenant and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available involuntary petition shall not be deemed dismissed within thirty (30) days thereafter; or (g) if a custodian or similar agent shall be authorized or appointed to be an acceptance take charge of all or surrender substantially all of the Leased Premises assets of Tenant; or (h) if Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation; or (i) if any order shall be entered in any proceeding by ▇▇▇▇▇▇or against Tenant decreeing or permitting the dissolution of Tenant or the winding up of its affairs. The notice periods provided herein are in lieu of, whether and not in addition to, any notice periods provided by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇.
Appears in 1 contract
Sources: Lease (Prometheus Biosciences, Inc.)
Default of Tenant. Each A. In the event Tenant fails to cure any default after ten (10) days of written notifica- tion from Landlord, at any time prior to the Rent Commencement Date, Landlord shall have the right, at its option, to terminate this Lease and to retain all monies theretofore paid by Tenant as liquidated damages. Landlord shall, in lieu thereof, have the option to continue specifically to enforce the terms of this Lease. After the Rent Commencement Date, the occurrence of any one or more of the following events shall constitute a material default by Tenant under this Lease:
(a) 1. The failure by Tenant fails to pay make any amount required payment of rent or any other sum re- quired to be made by Tenant under this Lease as and when the same becomes due and said failure is not cured within ten (10) days after Tenant is in receipt of written notice thereof notification from Landlord; (b) Landlord of failure to make payment of rent or other sums.
2. Tenant fails Transfers or mortgages or agrees to perform any other term, condition, Transfer or obligation under mortgage this Lease and said or possession of all or any portion of the Leased Premises without Land- lord’s prior written consent.
3. The failure is to comply with any of the other obligations of Tenant as pro- vided in this Lease within a reasonable time following its due date, but not cured within later than thirty (30) days after written notice thereof by Landlord to Tenant speci- fying Tenant’s failure to perform such obligation; provided, however, that if the nature of Tenant’s obligation is such that more than thirty (30) days are required for performance (and subject to further extension pursuant to Paragraph 31.0 hereof), then Tenant shall not be in default if Tenant com- mences performance within such thirty (30) day period and thereafter dili- gently prosecutes its efforts to satisfy such obligation..
B. In the event Tenant or any guarantor of this Lease shall become bankrupt or insol- vent, file any debtor proceedings, or take or have taken against Tenant or any guar- antor of this Lease in any court pursuant to any statute either of the United States or of any state a petition in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Tenant's or any such guarantor's property; or if Tenant or any such guarantor makes an assignment for the benefit of creditors or petitions for or enters into an arrangement; or if Tenant shall abandon the Leased Premises, or suffer this Lease to be taken under any writ of execution, then Landlord, in addition to all other rights or remedies it may have, shall have the immediate right to re-enter and may remove all persons and property from Landlord. Upon the Leased Premises and place and store such property in a warehouse or else- where at the cost of and for the account of Tenant, all without service of notice or resort to legal process and without being deemed guilty of trespass or becoming liable for any loss or damage which may be occasioned thereby.
C. On the occurrence of any such default by Tenant, Landlord shall have the option to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises Lease by ▇▇▇▇▇▇, whether Landlord may at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of a right or remedy which Landlord may have by agreement reason of such default do the following:
1. Landlord may, but shall not be obligated to, perform any one or more of the obligations of Tenant in default (including, but not limited to, payment of any sum, obtaining and maintaining any insurance policies, and maintaining and repairing the Leased Premises and Landlord may enter upon the Leased Premises for such purpose and take all such action thereon as may be nec- ▇▇▇▇▇▇ therefor. Notwithstanding anything contained in this Lease, in the event of an emergency, Landlord shall have the right to immediately per- form the obligations of Tenant under this Lease without notice or demand and without liability to Tenant, subject to reimbursement of all liabilities, costs and expenses incurred by Landlord thereby as provided in this Section entitled “Default of Tenant.” In the event Landlord performs such obliga- tions of Tenant as provided herein, then Tenant shall promptly, but in no event later than five (5) business days following written demand therefor from Landlord, pay to Landlord all liabilities, costs and expenses (includ- ing, without limitation, reasonable attorneys’ fees) incurred by Landlord arising out of, in connection with or resulting from such performance by Landlord, together with interest thereon at the highest lawful rate from the respective dates of Landlord’s making each such payment or incurring each such liability, cost and expense (subject to the Section entitled “Rental” hereof) until payment thereof, and same shall constitute additional rent hereunder.
2. Landlord may elect to continue the term of this Lease in full force and effect and not terminate Tenant's right to possession of the Leased Premises, in which event Landlord shall have the right to enforce any rights and remedies granted by this Lease or by operation law or equity against Tenant, including, without limitation, the right to collect when due rent and/or other sums payable here- under. Landlord shall not be deemed to have elected to terminate this Lease unless Landlord gives Tenant written notice of law, it being understood that such surrender can be affected only election to terminate. Landlord's acts of maintenance or preservation of the Building or efforts to relet the Leased Premises shall not terminate this Lease; or
3. Landlord may elect by written notice to Tenant to terminate this Lease at any time after the written agreement occurrence of Landlord and any default of this Lease by ▇▇▇▇▇▇. If Landlord elects to terminate this Lease, Landlord may, at its option, re-enter the Leased Premises. Should Landlord elect to re-enter, as herein provided, or should Landlord take possession pursuant to legal proceedings, or pursu- ant to any notice provided for by law, Landlord may either terminate this Lease or it may, from time to time, without terminating this Lease make such alterations and repairs as may be necessary to relet the Leased Prem- ises and may thereafter relet the Leased Premises and any part thereof for such term or terms (which may be for a term extending beyond the Lease Term) and at such rental or rentals and upon such other terms and conditions as Landlord, in its sole discretion, may deem advisable. Upon such reletting, all rentals received by Landlord from such reletting shall be applied: first, to the payment of indebtedness other than rent due hereunder from Tenant to Landlord; second, to the payment of any costs and expenses of such re- letting, including brokerage fees and reasonable attorney's fees and of costs for repairs in the Leased Premises other than repairs for normal wear, tear, acts of God, or for damage covered by fire and casualty insurance; third, to the payment of rent due and unpaid hereunder; and the residue, if any, shall be held by Landlord and applied in payment of future rent as the same may become due and payable hereunder. If such rentals received from such re- letting during any month are less than the rental required to be paid during the month by Tenant hereunder, Tenant shall pay any such deficiency that shall be calculated and paid monthly. No such re-entry or taking possession of the Leased Premises by Landlord shall be construed as an election on its part to terminate this Lease unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of compe- tent jurisdiction. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous breach. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedies Landlord may have, Landlord may recover from Tenant all damages Landlord may incur by reason of such breach, including the costs of recovering the Leased Premises and reasona- ble attorney's fees, all of which amounts shall immediately be due and pay- able from Tenant to Landlord.
4. On termination of this Lease by reason of Tenant's default, Landlord may recover from Tenant all damages incurred by Landlord by reason of Ten- ant's default, including, but not limited to:
a. The cost of recovering possession of the Leased Premises;
b. Reasonable expenses of reletting (including, but not limited to, ad- vertising costs, necessary renovation and alteration of the Leased Premises and the cost of any concessions which Landlord gives to relet the Leased Premises, reasonable attorney's fees, and any real estate commissions paid or payable by Landlord applicable to the unexpired term of this Lease) notwithstanding the foregoing, the amount of such expenses shall not exceed the remaining amount due under the Lease, including but not necessarily limited to, Base Rent and Tenant’s proportionate share of Building Operating Expenses;
c. The worth at the time of award by a court of competent jurisdiction of the amount:
(i) of any unpaid rent which had been earned at the time of ter- mination; plus
(ii) the amount by which the unpaid 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
(iii) the amount by which the unpaid rent for the balance of Lease term after the time of award exceeds the amount of the rental loss that Tenant proves could be reasonably avoided; plus
(iv) any other amount necessary to compensate Landlord for all detriment proximately caused by ▇▇▇▇▇▇'s failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom. The worth “at the time of termination" as used in subparagraph
(i) above and the worth “at the time of award as used in sub- paragraph (ii) above is to be computed by allowing interest at the rate of eighteen percent (18%) per annum. The worth “at the time of award" as used in subparagraph (iii) above is to be computed by discounting the amount at the discount rate of the Federal Reserve Bank situated nearest to the Leased Premises at the time of the award plus one percent (1%). If, prior to an award by a court of competent jurisdic- tion, Landlord re-leases the Leased Premises following a ter- mination by reason of Tenant's default, the rent charged by Landlord on such re-leasing shall be deemed to be the rental value of the Leased Premises for the purpose of calculation of the damages which Landlord may recover from Tenant.
Appears in 1 contract
Sources: Lease Agreement
Default of Tenant. Each of the following (i) If Tenant shall constitute a default by Tenant under this Lease:
(a) Tenant fails in its obligations to pay the Annual Fixed Rent or Additional Rent or any amount required other charges under this Lease as within five (5) days of the date when due or shall default in complying with its obligations under Subsection 6.1.10 of this Lease and when the same becomes due and said failure is not cured within ten if any such default shall continue for five (105) days after written notice pursuant to Section 10.1 thereof from Landlord; , or (bii) if as promptly as possible but in any event within thirty (30) days after notice from Landlord to Tenant specifying any default or defaults other than those set forth in clause (i) Tenant fails to perform any other term, condition, has not cured the default or obligation under this Lease and said failure defaults so specified; or if such default is of such a nature that it cannot be cured within thirty (30) days after written notice thereof from Landlord. Upon using best efforts, if Tenant does not commence the occurrence curing of any such default by within such thirty-day period and thereafter diligently and continuously prosecute such cure to completion within such additional time as may be necessary, but in no event to exceed sixty (60) days from the date of Landlord’s notice to Tenant specifying the default, or (iii) if there shall be a default of Tenant’s obligations under any lease between Landlord and Tenant for any space in the Building, Landlord shall have the option to pursue any one or more of the following remedies without any additional which default continues beyond applicable notice or demand whatsoever: terminate this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlordand cure periods then, and if Tenant fails to do so in any of such cases indicated in clauses (i), (ii) and (iii) hereof (collectively and individually, a “Default of Tenant”), Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided and not in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter give notice to Tenant terminating this Lease and the termsterm hereof, covenantswhich notice shall specify the date of termination, conditions or other provisions whereupon on the date so specified, the term of this Lease, by injunction, order Lease and all of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, Tenant’s rights and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or privileges under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available this Lease shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord expire and ▇▇▇▇▇▇terminate but Tenant shall remain liable as hereinafter provided.
Appears in 1 contract
Sources: Lease Agreement (AxoGen, Inc.)
Default of Tenant. Each of the following shall constitute a default by Tenant under this Lease:
(a) a. If Tenant fails to pay any amount required under rental due hereunder within five (5) days after the same shall be due, or fails to perform any other term, condition or covenant of this Lease as and when the same becomes due and said failure is not cured within for more than ten (10) days after written notice thereof from Landlord; (b) Tenant fails of such failure shall have been given to perform any other term, conditionTenant, or obligation under if Tenant or an agent of Tenant shall falsify any report required to be furnished to Landlord pursuant to the terms of this Lease, or if Tenant or any guarantor of this Lease and said failure is not cured within thirty (30) days after written notice thereof from Landlord. Upon shall become bankrupt or insolvent, or file any debtor proceedings or any person shall file against Tenant or any guarantor of this Lease in any court pursuant to any statute either of the occurrence United States or of any state a petition in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Tenant's or any such guarantor's property, or if Tenant or any such guarantor makes an assignment for the benefit of creditors, or petitions for or enters into an arrangement, or if Tenant shall abandon the Leased Property or suffer this Lease to be taken under any writ of execution, then in any such event Tenant shall be in default by Tenanthereunder, Landlord and Landlord, in addition to other rights of remedies it may have, shall have the option to pursue any one immediate right of re-entry and may remove all persons and property from the Leased Property and such property may be removed and stored in a public warehouse or more elsewhere at the cost of, and for the account of the following remedies Tenant, all without any additional service of notice or demand whatsoever: terminate this Leaseresort to legal process and without being guilty of trespass, in or becoming liable for any loss or damage which event Tenant shall immediately surrender may be occasioned thereby.
b. Should Landlord elect to re-enter the Leased Premises to LandlordProperty as herein provided, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and should it take possession of the Leased Premises Property pursuant to legal proceedings or pursuant to any notice provided for by law, it may either terminate this Lease or it may from time to time, without terminating this Lease, make such alterations and expel or remove Tenant and any other person who repairs as may be occupying necessary in order to relet the Leased Premises Property, and relet the Leased Property or any part thereofthereof for such term or terms (which may be for a term extending beyond the term of this Lease) and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable. Upon each such reletting all rental received by the Landlord from such reletting shall be applied first to the payment of any indebtedness other than rent due hereunder from Tenant to Landlord; second, without being liable for prosecution to the payment of any costs and expenses of such reletting, including brokerage fees and attorney's fees and of costs of such alterations and repairs; third, to the payment of residue and unpaid hereunder, and the rent due, if any, shall be held by Landlord and applied in payment of future rent as the same may become due and payable hereunder. If such rentals received from such reletting during any month be less than that to be paid during that month by Tenant hereunder, Tenant, upon demand, shall pay any such deficiency to Landlord. No such re-entry or any claim of damages therefor; or enter upon and take taking possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Property by Landlord shall be entitled construed as an election on its part to restrain terminate this Lease unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding any such reletting without termination, Landlord may at any time after such re-entry and reletting elect to terminate this Lease for such previous breach. Should Landlord at any time terminate this Lease for any such breach, in addition to any other remedies it may have, it may recover from Tenant all damages it may incur by reason of such breach, including the cost of recovering the Leased Property, reasonable attorney's fees, and including the worth at the time of such termination of the excess, if any, of the amount of rent and charges equivalent to rent reserved in this Lease for the remainder of the stated term over the then reasonable rental value of the Leased Property for the remainder of the stated term, all of which amounts shall be immediately due and payable from Tenant to Landlord.
c. Landlord may, at its option, instead of exercising any other rights or remedies available to it in this Lease or otherwise by law, statute or equity, spend such money as is reasonably necessary to cure any default or violationof Tenant herein and the amount so spent, or attempted or threatened default or violation and costs incurred, including attorney's fees in curing such default, shall be paid by Tenant, as Additional Rent, upon demand.
d. If suit shall be brought for recovery of any possession of the termsLeased Property, covenants, conditions for the recovery of Rent or any other amount due under the provisions of this Lease, by injunctionor because of the breach of any other covenant herein contained on the part of Tenant to be kept or performed, order of specific performance or other appropriate equitable relief. The remedies provided and a breach shall be established, Tenant shall pay to Landlord hereunder are intended all expenses incurred therefor, including reasonable attorney's fees, together with interest on all such expenses at the rate of 12% percent per annum from the date of such breach of the covenants of this Lease.
e. Tenant hereby expressly waives any and all rights of redemption granted by or under any present or future laws in the event of Tenant being evicted or dispossessed for any cause, or in the event of Landlord obtaining possession of the Leased Property, by reason of the violation by Tenant of any of the covenants or conditions of this Lease, or otherwise. Tenant also waives any demand for possession of the Leased Property, and any demand for payment of rent and any notice of intent to re-enter the Leased Property, or of intent to terminate this Lease, other than the notices above provided in this Article, and waives any and every other notice or demand prescribed by any applicable statutes or laws.
f. No remedy herein or elsewhere in this Lease or otherwise by law, statute or equity, conferred upon or reserved to Landlord or Tenant shall be exclusive of any other remedy, but shall be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right from time to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to time and as often as the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇occasion may arise.
Appears in 1 contract
Sources: Lease Agreement (Biosensor Corp)
Default of Tenant. (1) Each of the following shall be an "Event of Default" by Tenant hereunder:
(a) Any default by Tenant of this Sublease which results in the declaration of a default by the Landlord under the Prime Lease and which is not cured before the expiration of any applicable grace or cure period under the Prime Lease.
(b) A petition under the federal bankruptcy code, as amended from time to time (the "Bankruptcy Code"), or any state bankruptcy or insolvency laws, is filed by, on behalf of, or against Tenant and such petition remains undismissed for a period of sixty (60) days after such filing, such event shall constitute a default under this Sublease and ▇▇▇ shall be entitled to immediately exercise its rights and remedies under this Sublease without regard to the cure periods provided thereunder. Tenant further agrees, that in the event trustee or Tenant, as debtor-in-possession, rejects this Sublease or is deemed to have rejected this Sublease pursuant to the Bankruptcy Code, ▇▇▇ shall be entitled to possession of the Premises immediately and without further obligation to Tenant or Tenant's trustee, and this Sublease shall terminate, but Rex's right to be compensated for damages in any such proceeding shall survive. In addition to the occurrence of the filing of a petition under the Bankruptcy Code or state bankruptcy or insolvency laws by, on behalf of, or against Tenant, the occurrence of any of the following shall constitute a default under this Sublease, and ▇▇▇ shall be entitled immediately to exercise its rights and remedies under this Sublease without regard to the cure periods provided hereunder: (i) general assignment for the benefit of creditors; (ii) the appointment under applicable state law of a trustee or receiver to take possession of substantially all of Tenant's assets or of Tenant's interest in this Sublease; or (iii) the attachment, or other judicial seizure of substantially all of Tenant's assets or of Tenant's interest in this Sublease.
(c) If Tenant is a corporation or a partnership, and if at any time during the term of this Sublease the person or persons which, on the date of this Sublease, own or owns a majority of such corporation's voting shares or the general partner's interest in such partnership, as the case may be, cease or ceases to own a majority of such shares or general partner's interest as the case may be, except that this provision shall not be applicable to transfers by gift or inheritance, or to any ▇▇▇ REALTY/UNITED INDUSTRIES SUBLEASE 2129 ▇▇▇▇▇▇ IND. DRIVE corporation all the outstanding voting stock of which is listed on a national securities exchange (as defined in the Securities Exchange Act of 1934, as amended).
(d) Any other default by Tenant of this Sublease.
(2) Should an Event of Default occur under this LeaseSublease, then ▇▇▇ ▇▇▇ (a) terminate this Sublease, expel and remove Tenant or any other person or persons in occupancy from the Premises with or without appropriate legal or equitable proceedings, if necessary, together with their goods and chattels, and repossess the Premises; provided that notwithstanding the termination of this Sublease, ▇▇▇ shall be entitled to damages provided by law, just as if Tenant repudiated this Sublease, or (b) terminate Tenant's right to possession only, without terminating this Sublease, and with or without process of law, expel and remove Tenant, or any other person or persons in occupancy from the Premises, together with their goods and chattels, and repossess the Premises without such entry and possession terminating this Sublease or releasing Tenant in whole or in part from Tenant's obligations to pay rent for the full term hereof. Upon and after entry and possession without termination of this Sublease, ▇▇▇ shall attempt to relet the Premises or any part thereof for the account of Tenant, to any person, firm, or corporation, for such rent, for such term, (including a term beyond the term hereof, but the part of any such term which is beyond the term hereof shall not be chargeable to Tenant's account), and upon such terms and conditions as ▇▇▇ shall reasonably determine, and ▇▇▇ shall apply all rents received upon such a reletting as follows:
(ai) first to the payment of such expenses as ▇▇▇ ▇▇▇ incur in recovering possession of the Premises (including attorneys' fees and legal expenses), and in putting the same into good order and condition, and preparing, altering, advertising and brokering the same for rental or reletting, and all other expenses, commissions and charges paid, assumed, or incurred by ▇▇▇ in reletting the Premises; and
(ii) then to the fulfillment of the obligations of Tenant fails hereunder. At the option of ▇▇▇, Tenant shall, in event of re-entry, be liable, in addition to pay any sums then due, for (i) an amount required equal to the amount by which the rent reserved under this Lease as Sublease from the date of re-entry to the expiration of the term exceeds the net amount of any rents collected for the Premises for each month of the period which would otherwise have constituted the balance of the term of this Sublease, which shall be paid in monthly installments by Tenant on the rent days specified in this Sublease, and when any suit brought to collect said amounts for any month or months shall not prejudice in any way the same becomes due and said failure is not cured within ten (10) days after written notice thereof from Landlord; (b) Tenant fails rights of ▇▇▇ to perform collect the deficiency for any other term, conditionsubsequent month by a similar action or proceeding, or obligation under this Lease and said failure is not cured within thirty (30ii) days after written notice thereof from Landlord. Upon the occurrence of any such default by Tenant, Landlord shall have the option to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice addition to any other remedy proper claim to which Landlord may have ▇▇▇ shall be entitled, but without duplication, the difference between the rent reserved hereunder for omission or arrearages in Rent, enter upon and take possession the unexpired portion of the Leased term of this Sublease and the fair reasonable rental value of the Premises and expel for the same period. If the Premises or remove Tenant and any other person who may be occupying part thereof are relet by ▇▇▇ for the Leased Premises unexpired term, or any part thereof, without being liable for prosecution or any claim the amount of damages therefor; or enter rent reserved upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord such reletting shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by fair and ▇▇▇ REALTY/UNITED INDUSTRIES SUBLEASE 2129 ▇▇▇▇▇▇ IND. DRIVE reasonable rental value for the part of the whole of the Premises so relet during the term of the reletting. With whichever option, if any, ▇▇▇ exercises, Tenant shall also be liable for: (i) all costs and expenses incurred by ▇▇▇ (including reasonable attorneys' fees and legal expenses) in recovering possession or in collection of delinquent rent, whether by agreement or by operation not litigation is commenced; (ii) all costs of lawredecorating, it being understood that such surrender can be affected only by repairing, renovating and remodeling the written agreement of Landlord Premises required to relet the Premises; and (iii) all advertising and brokerage costs and expenses incurred in reletting or attempting to relet the Premises. ▇▇▇ ▇▇▇ ▇▇▇ for sum(s) in advance or from time to time as the same accrue(s). At any time after repossession of the Premises, ▇▇▇ ▇▇▇ terminate this Sublease.
Appears in 1 contract
Default of Tenant. Each 11.01 In addition to all rights under law and equity available to Landlord, Landlord shall have the immediate right to declare this Lease terminated and shall have the immediate right of re-entry and may remove all persons and property from the Leased Premises and such property may be removed and stored in a public warehouse or elsewhere at a cost, and for the account of the following Tenant, without evidence of notice or resort to legal process and without being deemed guilty of trespass or becoming liable for any loss or damages which may be occasioned thereby.
11.02 Upon a declaration of default, as set forth above, the Landlord shall constitute have the right to accelerate the rental payments due hereunder, so that all unpaid rents shall become immediately due and payable.
11.03 The rights set forth above are collective in nature and are not mutually exclusive of any other remedy contained herein or at law.
11.04 Landlord shall be entitled to collect from the Tenant reasonable attorney fees and costs in any litigation enforcing the terms and provisions of this Lease. Landlord shall be entitled to collect reasonable attorney fees and costs from Tenant in connection with any litigation in which the Landlord is named a party as a result of some action or inaction of the Tenant. In the event of a default by the Landlord, the Tenant shall have all remedies available under law or equity.
11.05 Prior to default occurring under the terms of this Lease:
, the non- defaulting party must give a written notice of the right to cure the default to the defaulting party. Said notice must provide the nature of the default, the action necessary to cure the default, and ten (a10) Tenant fails days to pay any amount required under this Lease as and when cure same. If the same becomes due and said failure default, other than monetary default, is of a nature that cannot be cured within ten (10) days after written notice thereof from Landlord; (b) Tenant fails days, a reasonable period of time shall be allowed to perform any other termcure said default if the defaulting party, conditionwith all due diligence, proceeds to cure same.
11.06 The failure on the part of the Landlord to re-enter or repossess the Leased Premises, or obligation under this Lease and said failure is not cured within thirty (30) days after written notice thereof from Landlord. Upon the occurrence of any such default by Tenant, Landlord shall have the option to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord of its rights hereunder (or under applicable Laws) with respect to the same upon any default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available , shall not be deemed to a waiver of any subsequent default or defaults. All of Landlord's rights shall be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of cumulative and shall not preclude Landlord from exercising any other rights which he may have under law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇.
Appears in 1 contract
Default of Tenant. Each A. If any one or more of the following occurs: (1) a rent payment or any other payment due from Tenant to Landlord shall constitute a default by Tenant under this Lease:
(a) Tenant fails to pay any amount required under this Lease as be and when the same becomes due and said failure is not cured within remain unpaid in whole or in part for more than ten (10) days after Tenant’s receipt of written notice thereof that the same is past due, provided however that Landlord shall only be obligated to provide two (2) such notices in any 12-month period, and thereafter it shall be a default if a rent payment or any other payment due from LandlordTenant to Landlord shall be and remain unpaid in whole or in part for more than ten (10) days after the same is due; (b2) Tenant fails to perform shall violate or default on any of the other termcovenants, conditionagreements, stipulations or obligation under this Lease conditions herein, and said failure is not cured within such violation or default shall continue for a period of thirty (30) days after written notice thereof from Landlord of such violation or default (which 30-day period shall be subject to reasonable extension, up to a total of 60 days, provided Tenant has commenced cure and is diligently pursuing the same to completion), except that if a specific time period following notice by Landlord for Tenant to cure such violation or default is set forth elsewhere in this Lease Agreement, no additional period of notice and cure shall be afforded under this Article; (3) Tenant shall commence or have commenced against Tenant proceedings under a bankruptcy, receivership, insolvency or similar type of action; or (4) Tenant shall purport to assign this Lease Agreement or sublet, license, mortgage or transfer this Lease Agreement or the Premises hereunder in violation of the provisions of Article 16 of this Lease Agreement; then it shall be optional for Landlord. Upon the occurrence of any , without further notice or demand, to cure such default by or to declare this Lease Agreement forfeited and the said Term ended, or to terminate only Tenant, Landlord shall have the option ’s right to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises Premises, and expel or remove Tenant to re-enter the Premises, subject to applicable Laws, and any other person who may Landlord shall not be occupying the Leased Premises or any part thereof, without being liable for prosecution damages by reason of such forfeiture or any claim re-entry; but notwithstanding re-entry by Landlord or termination only of damages therefor; or enter upon and take Tenant’s right to possession of the Leased Premises Premises, the liability of Tenant for the rent and expel all other sums provided herein shall not be relinquished or remove Tenant extinguished for the balance of the Term of this Lease Agreement and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain periodically ▇▇▇ Tenant for all sums due under this Lease Agreement or which become due prior to judgment, but such suit shall not bar subsequent suits for any default or violationfurther sums coming due thereafter. Tenant shall be responsible for, or attempted or threatened default or violation in addition to the rentals and other sums agreed to be paid hereunder (as more particularly set forth below), the reasonable cost of any necessary maintenance, repair, restoration, reletting (including related cost of removal or modification of tenant improvements) or cure as well as reasonable attorneys’ fees incurred or awarded in any suit or action instituted by Landlord to enforce the terms, covenants, conditions or other provisions of this LeaseLease Agreement, by injunctionregain possession of the Premises, order or the collection of specific performance the rentals due Landlord hereunder. Tenant shall also be liable to Landlord for the payment of a late charge in the amount of five percent (5%) of the rental installment or other appropriate equitable relief. The remedies provided to sum due Landlord hereunder are intended if said payment has not been received within ten (10) days from the date said payment becomes due and payable. Tenant agrees to pay interest at the rate of ten percent (10%) per annum or the maximum permissible rate under the applicable usury statutes, whichever is less, on all rentals and other sums due Landlord hereunder not paid within ten (10) days from the date same become due and payable. All of Landlord’s rights and remedies under this Lease Agreement shall be cumulative, cumulative with and in addition to any and all rights and remedies which Landlord may be exercised by Landlord have at law or in equity. Any specific right or remedy provided for in any order, provision of this Lease Agreement shall not preclude the concurrent or simultaneously, without such consecutive exercise being of a waiver by Landlord of its right to exercise or remedy provided for in any other remedy granted provision hereof. Landlord shall exercise at least the level of effort required by applicable Laws to Landlord hereunder (mitigate its damages.
B. Notwithstanding anything in Article 20 A above or under applicable Laws) with respect elsewhere in this Lease Agreement to the same default. Exercise contrary, in the event Tenant shall vacate the Premises for a period of ninety (90) consecutive days (other than due to casualty loss or for temporary purposes such as remodeling or renovation), such vacation by Landlord of any one or more remedies hereunder granted or otherwise available Tenant alone shall not be deemed a default by Tenant under this Lease Agreement, but in such case Landlord shall have the option, but not the obligation, to be an acceptance or surrender terminate this Lease Agreement by giving written notice of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇termination to Tenant.
Appears in 1 contract
Sources: Lease Agreement (SomaLogic, Inc.)
Default of Tenant. Each This Agreement may be terminated at any time by HRM on criteria for default of the following shall constitute a default by Tenant under this Lease:
(a) Tenant fails to pay any amount required under this Lease as and when the same becomes due and said failure is not cured within ten (10) days after written notice thereof from Landlord; (b) Tenant fails to perform any other term, condition, or obligation under this Lease and said failure is not cured within thirty (30) days after written notice thereof from LandlordTenant. Upon the occurrence of any such default by Tenant, The Landlord shall have the option right at any time to pursue remedy or attempt to remedy any one or more default of the following remedies without Tenant hereunder, and in so doing to make any additional notice payments due or demand whatsoeveralleged to be due by the Tenant to a third party and may enter upon the leased premises to do any work or repairs for which the Tenant is responsible under this Facility Lease Agreement and in such event all expenses of the Landlord in remedying or attempting to remedy such default shall be recoverable by the Landlord from the Tenant. Payment in full or through payment plan will be arranged with HRM. Interest will be factored into the outstanding debt based on determination of HRM. The Landlord may re-enter upon the leased premises in the event of the following: Criteria for the decision to terminate would include but not limited to the: the Tenant is incapable of day to day program or facility operation facility needs to be protected against vandalism, theft, pipes freezing, activity contrary to public safety the Tenant became in danger of bankruptcy or foreclosure actions facility being used contrary to the terms of the Agreement to the deterrent of HRM facility use and programming creates hardship to the immediate residents the Tenant cannot successfully obtain legal Registered Non Profit Society Status (may also include Federal Charitable Status) the Tenant does not maintain current General Liability Insurance any unauthorized assignment of subletting of this Lease, in which event lease by the Tenant unauthorized facility change that effects the building insurance the Tenant shall immediately surrender not observe, perform and keep all and every one of the Leased Premises covenants, agreements, provisions, stipulations and conditions herein contained to Landlordbe observed, performed and kept by the Tenant if Tenant fails the leased premises shall become vacant In the event of a claim for debt, damages or indemnity by the Landlord against the Tenant, the Landlord shall have the right to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon seize and take possession of any equipment, furniture or other property of any nature whatsoever situated on the Leased Premises leased premises and expel to sell the same at public or remove private sale without notice and to apply the proceeds thereof upon the account of Tenant. The Tenant and any other person who may shall continue to be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided Landlord for the deficiency if any and the Tenant hereby waives and renounces the benefit of any present or future Act in this Leaseforce in Canada or in the Province of Nova Scotia which takes away or limits the Landlord's rights, and anything contained herein to that the contrary notwithstanding, Landlord shall be entitled to restrain any default may seize and sell the Tenant's goods and chattels as fully as the Landlord might have done if such Act had not been enacted or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇passed.
Appears in 1 contract
Default of Tenant. Each of the following If Tenant shall constitute a default by Tenant under this Lease:
(a) Tenant fails fail to pay any amount required under this Lease monthly installment of rent as and when the same becomes due and said aforesaid and, if such violation or failure is not cured within shall continue for a period of ten (10) days after written notice thereof from to Tenant by Landlord; (b) , or if Tenant fails shall violate or fail to perform any of the other termconditions, condition, covenants or obligation under this Lease agreements herein made by Tenant and said if such violation or failure is not cured within shall continue for a period of thirty (30) days after written notice thereof to Tenant by Landlord, or if Tenant shall abandon or vacate the Demised Premises before the Expiration Date of this Lease, then and in any of said events Landlord shall have the right, at its election, then or at any time thereafter while such event of default shall continue, either:
(i) To give Tenant written notice of its intent to terminate this Lease on the date of such notice or, on any later date specified therein, and on the date specified in such notice Tenant's right to possession of the Demised Premises shall cease and this Lease shallthereupon be terminated; or
(ii) With not less than twenty-four (24) hours prior written notice, to reenter and take possession of the Demised Premises, or any part thereof, and repossess the same as of Landlord's former estate and expel Tenant and those claiming through or under Tenant and remove the effects of both or either, by summary proceedings, or by action at law or in equity or otherwise, without being deemed guilty of any manner of trespass and without prejudice to any remedies for arrears of rent or breach of covenant. If Landlord elects to reenter under this clause, Landlord may terminate this Lease, or, from time to time, without terminating this Lease, may relet the Demised Premises, or any part thereof, as agent for Tenant for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord may deem advisable, with the right to make alterations and repairs to the Demised Premises. No such reentry or taking of possession of the Demised Premises by Landlord shall be construed as an election on Landlord's part to terminate this Lease unless a written notice of such intention is given to Tenant under clause (i), above, or unless the termination thereof be decreed by a court of competent- jurisdiction at the instance of Landlord. Upon Tenant waives any right to the occurrence service of any notice of Landlord's intention to reenter provided for by any present or future law. If Landlord terminates this Lease pursuant to this Article 21, Tenant shall remain liable (in addition to accrued liabilities) for (i) the (A) rent and all other sums provided for in this Lease until the date this Lease would have expired had such termination not occurred, or (B) any and all expenses incurred by Landlord in reentering the Demised Premises, repossessing the same, making good any default of Tenant, painting, altering or dividing the Demised Premises, putting the same in proper repair, protecting and preserving the same by placing therein watchmen and caretakers, reletting the same (including any and all reasonable attorney's fees and disbursements and brokerage fees incurred in so doing) , and any and all expenses which Landlord may incur during and which result from the occupancy of any new tenant; less (ii) the net proceeds of any reletting prior to the date when this Lease would have expired if it had not been terminated. Tenant agrees to pay to Landlord the difference between items (i) and (ii) of the foregoing sentence with respect to each month during the term of this Lease, at the end of such month. Any suit brought by Landlord to enforce collection of such difference for any one month shall not prejudice Landlord's right to enforce the collection of any difference for any subsequent month. In addition to the foregoing, and without regard to whether this Lease is terminated, Tenant shall pay to Landlord all costs incurred, including reasonable attorney's fees with respect to any successful lawsuit or action taken instituted by Landlord to enforce the provisions of this Lease. Landlord shall have the right, at its sole option, to relet the whole or any part of the Demised Premises for the whole of the unexpired term of this Lease, or longer, or from time to time for shorter periods, for any rental , then obtainable, giving such concessions of rent and making such special repairs, alterations, decorations and paintings for any new tenant as Landlord, in its sole and absolute discretion, may deem advisable. Tenant's liability as aforesaid shall survive the institution of summary proceedings and the issuance of any warrant thereunder. Landlord shall be under no obligation to relet the Demised Premises, but agrees to use reasonable efforts to do so. If Landlord terminates this Lease pursuant to this Article 21, Landlord shall have the option right, at any time, at its option, to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease, in which event require Tenant shall immediately surrender the Leased Premises to pay to Landlord, on demand, as liquidated and agreed final damages in lieu of Tenant's liability for damages hereunder, the rent and all other charges which would have been payable from the date of such demand to the date when this Lease would have expired if Tenant fails to do so Landlord mayit had not been terminated, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession minus the fair rental value of the Leased Demised Premises and expel for the same period. If the Demised Premises shall have been relet for all or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased remaining balance of the term by Landlord after a default but before presentation of proof of such liquidated damages, the amount of rent reserved upon such reletting, absent proof to the contrary, shall be deemed the fair rental value of the Demised Premises for purposes of the foregoing determination of liquidated damages. Upon payment of such liquidated and expel or remove agreed final damages, Tenant shall be released from all further liability under this Lease with respect to the period after the date of such demand. For purposes of this Article 21, the term rent shall include monthly rental, additional rent and any all other person who may charges to be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated paid by Tenant under this Lease. In addition to the other All rights and remedies provided in of Landlord under this Lease, and anything contained herein to the contrary notwithstanding, Landlord Lease shall be entitled to restrain any default or violation, or attempted or threatened default or violation cumulative and shall not be exclusive of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The rights and remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇.
Appears in 1 contract
Sources: Purchase and Assumption Agreement (Century Bancshares Inc)
Default of Tenant. Each a. In the event of the following shall constitute a default by any failure of Tenant under this Lease:
(a) Tenant fails to pay any amount required under this Lease as and when rental due hereunder within ten (10) days after the same becomes due and said due, or any failure is not cured within to perform any other terms, conditions or covenants of this Lease to be observed or performed by Tenant for more than ten (10) days after written notice thereof from Landlord; (b) Tenant fails of such failure shall have been given to perform any other term, conditionTenant, or obligation under if Tenant or an agent of Tenant shall falsify any report required to be furnished to Landlord pursuant to the terms of this Lease, or if Tenant or any guarantor of this Lease and said failure is not cured within thirty (30) days after written notice thereof from Landlord. Upon shall become bankrupt or insolvent, or file any debtor proceedings or any person shall take or have against Tenant or any guarantor of this Lease in any court pursuant to any statute either of the occurrence United States or of any state a petition in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Tenant’s or any such guarantor’s property, or if Tenant or any such guarantor’s property, or if Tenant or any such guarantor makes an assignment for the benefit of creditors, or petitions for or enters into an arrangement with its creditors, or if Tenant shall abandon the Demised Premises or suffer this Lease to be taken under any writ of execution, then in any such event Tenant shall be in default by Tenanthereunder, Landlord and Landlord, in addition to other rights of remedies it may have, shall have the option to pursue any one immediate right of re-entry and may remove all persons and property from the Demised Premises and such property may be removed and stored in a public warehouse or more of elsewhere at the following remedies without any additional notice or demand whatsoever: terminate this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlordcost of, and if Tenant fails to do so Landlord mayfor the account of Tenant, without prejudice being guilty of trespass, or becoming liable for any loss or damage which may be occasioned thereby.
b. Should Landlord elect to any other remedy which Landlord may have for omission re-enter the Demised Premises, as herein provided, or arrearages in Rent, enter upon and should it take possession of the Leased Demised Premises pursuant to legal proceedings or pursuant to any notice provided for by law, it may either terminate this Lease or it may from time to time, without terminating this Lease, make such alterations and expel or remove Tenant and any other person who repairs as may be occupying necessary in order to relet the Leased Premises or any part thereofDemised Premises, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of relet the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Demised Premises or any part thereof without being liable for prosecution such term or any claim terms (which may be for damages therefor, with or without having terminated a term extending beyond the term of this Lease) and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable. In addition Upon each such subletting all rentals received by the Landlord from such reletting shall be applied first to the payment of any indebtedness other remedies provided in this Leasethan rent due hereunder from Tenant to Landlord; second, to the payment of any costs and expenses of such reletting, including brokerage fees and attorney’s fees and costs of such alterations and repairs; third, to the payment of the rent due and unpaid hereunder, and anything contained herein the residue, if any shall be held by Landlord and applied in payment of future rent as the same may become due and payable hereunder. If such rentals received from such reletting during any month be less than that to be paid during month by Tenant hereunder, Tenant, upon demand, shall pay any such deficiency to Landlord. No such re-entry or taking possession of the contrary notwithstanding, Demised Premises by Landlord shall be entitled construed as an election on it’s part to restrain terminate this Lease unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding any such reletting without termination, Landlord may at any time after such reentry and reletting elect to terminate this Lease for such previous breach. Should Landlord at any time terminate this Lease for any such breach, in addition to any other remedies it may have, it may recover from Tenant all damages it may incur by reason of such breach, including the cost of recovering the Demised Premises, attorney’s fees, and costs, the unamortized portion of any leasehold improvements made by Landlord for Tenant and including the worth at the time of such termination of the excess, if any, of the amount of rent and charges equivalent to rent reserved in this Lease for the remainder of the stated term over the then reasonable rental value of the Demised Premises for the remainder of the stated term, all of which amounts shall be immediately due and payable from Tenant to Landlord. Landlord shall also have the right to accelerate the entire indebtedness (including the amount of Base Rent and reasonably estimated Additional Rent reserved in this Lease for the remainder of the Term of Lease), reduce the same to present value using a discount rate of one hundred basis points below the “prime” or “reference” rate then announced at W▇▇▇▇ Fargo Bank, N.A., Minneapolis office, or its successors and assigns (the “Prime Rate”), and recover a judgment from Tenant in that amount.
c. Landlord may, at its option, instead of exercising any other rights or remedies available to it in this Lease or otherwise by law, statute or equity, spend such money as is reasonably necessary to cure any default or violationof Tenant herein and the amount so spent, or attempted or threatened default or violation and costs incurred, including attorneys’ fees in curing such default, shall be paid by Tenant, as additional rent, upon demand.
d. In the event suit shall be brought for recovery of any possession of the termsDemised Premises, covenants, conditions for the recovery of rent or any other amount due under the provisions of this Lease, by injunctionor because of the breach of any other covenant herein contained on the part of the Tenant to be kept or performed, order of specific performance or other appropriate equitable relief. The remedies provided and a breach shall be established, Tenant shall pay to Landlord hereunder are intended all expenses incurred therefor, including attorney’s fees and costs, together with interest on all such expenses at the rate of ten percent (10%) per annum from the date of such breach of the covenants of this Lease.
e. Tenant waives any demand for possession of the Demised Premises, and any demand for payment of rent and any notice of intent to re-enter the Demised Premises, or of intent to terminate this Lease, other than the notices above provided in this Article, and any other notice or demand prescribed by any applicable statutes or laws.
f. No remedy herein or elsewhere in this Lease or otherwise by law, statute or equity, conferred upon or reserved to Landlord or Tenant shall be exclusive of any other remedy, but shall be cumulative, and may be exercised from time to time and as often as the occasion may arise.
g. For purposes hereof, a “Landlord Default” exists if Landlord fails to perform any of its obligations under this Lease within 30 days after receiving notice from Tenant specifying the nature and extent of such failure; provided, however, if the obligation is not reasonably curable within such 30 day period, the time for will be extended so long as Landlord continues to use reasonable efforts to effect a cure. If a Landlord Default has occurred, then, in addition to all rights, powers or remedies permitted by law or in equity, Tenant may cure such Landlord in any orderDefault and charge the cost thereof to Landlord, or simultaneouslys▇▇ for specific performance or s▇▇ for damages. Landlord is liable for, without and shall pay to Tenant within 30 days after receiving Tenant’s invoice, all reasonable attorneys’ fees and other costs incurred by Tenant as a result of a Landlord Default. If Landlord fails to pay within such exercise being a waiver by Landlord of its 30 day period the amount due, Tenant has the right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to offset such amounts against the same default. Exercise by Landlord next installments of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇Rent due hereunder.
Appears in 1 contract
Default of Tenant. Each of the following If TENANT shall constitute a default by Tenant under this Lease:
(a) Tenant fails fail to pay any amount required under this Lease as and annual installment or item of rent on the date when the same becomes due and said failure is not cured within ten (10) days after written notice thereof from Landlord; (b) Tenant fails or shall violate or fail to perform any of the other termconditions, conditioncovenants, or obligation under provisions of City of Miami Beach /CAA 10 • this Lease Agreement to be observed and said performed by TENANT, and if such violation or failure is not cured within continues for a period of thirty (30) days after written notice thereof from LandlordLANDLORD, to TENANT, except for failure to pay rent, which shall have a fifteen (15) day period for cure after written notice thereof from LANDLORD, to TENANT, then LANDLORD may at any time terminate this Lease Agreement upon seven (7) days written notice to TENANT; provided, however, that (except as to rent) if the nature of TENANT'S non - compliance is such that more than thirty (30) days are reasonably required for its cure, then TENANT shall not be deemed in default if TENANT commenced such cure within such thirty (30) day period and thereafter diligently prosecutes such cure to completion. Upon In the occurrence event of termination, LANDLORD shall also have the right to proceed with any remedy available at law or in equity in the State of Florida. All rights and remedies of LANDLORD under this Lease Agreement shall be cumulative and shall not be exclusive of any other rights and remedies provided to LANDLORD under applicable law, subject to the limitations of Section 768.28 of the Florida Statutes. ARTICLE XXVII WAIVER If, under the provisions hereof, LANDLORD or TENANT shall institute proceedings and a compromise or settlement thereof shall be made, the same shall not constitute a waiver of any covenant herein contained nor of any of LANDLORD's or TENANT's rights hereunder, unless expressly stated in such default settlement agreement. No waiver by TenantLANDLORD or TENANT of any provision hereof shall be deemed to have been made unless expressed in writing and signed by both parties. No waiver by LANDLORD or TENANT of any breach of covenant, Landlord condition, or agreement herein contained shall have operate as a waiver of such covenant, condition, or agreement itself, or of any subsequent breach thereof. No payment by TENANT or receipt by LANDLORD of lesser amount than the option monthly installments of rent (or additional rent obligations stipulated herein) nor shall any endorsement or statement on any check or letter accompanying a check for payment of rent (or additional rent obligations as stipulated herein) or any other amounts owed to LANDLORD be deemed an accord and satisfaction and LANDLORD may accept such check or payment without prejudice to or waiver of LANDLORD's right to recover the balance of such rent (or additional rent obligations as stipulated herein) or other amount owed or to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages provided in Rent, enter upon this Lease Agreement. No reentry by LANDLORD and take possession no acceptance by LANDLORD of the Leased Premises and expel or remove Tenant and any other person who may keys from TENANT shall be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim considered an acceptance of damages therefor; or enter upon and take possession a surrender of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this LeaseLease Agreement. City of Miami Beach /CAA 11 ARTICLE XXVIII ADDITIONAL RENT (OPERATING EXPENSES) In addition to the other remedies Base Rent, TENANT shall also pay the following Additional Rent as provided in this Leasebelow: TENANT shall pay One Thousand Three Hundred Twenty Seven Dollars and 94/100 ($ 1,327.94) per month, for its proportionate share of "Operating Expenses" which are defined as follows: "Operating Expenses" shall mean expenses incurred as a result of operating, repairing, and anything contained maintaining the Common Facilities . (as herein defined) and shall include electrical service, water service, sewer service, storm water costs and janitorial and custodial services to the contrary notwithstandingBuilding, Landlord including the Demised Premises. "Common Facilities" shall be entitled to restrain any default mean all Building areas, spaces, equipment, as well as certain services, available for use by or violationfor the benefit of TENANT and /or its employees, or attempted or threatened default or violation of any agents, servants, volunteers, customers, guests and/or invitees. Irrespective of the termsitems listed above, covenantsamount due by TENANT, conditions or other provisions associated with Common Facilities Operating Expenses, will be determined based on TENANT's pro -rata share of this Leasethe items, by injunctionwhich is hereby made a part of the Lease Agreement. Pro -rata share shall mean the percent which the Demised Premises bears to the total square footage of leasable space within the Building, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended which share is hereby agreed to be cumulativesixteen percent (16 %). TENANT agrees and understands that the costs incurred for Operating Expenses may increase or decrease and, and may be exercised by Landlord in any orderas such, TENANT's pro -rata share of Operating Expenses shall increase or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇decrease accordingly.
Appears in 1 contract
Sources: Lease Agreement
Default of Tenant. Each a. In the event of the following shall constitute a default by any (i) failure of Tenant under this Lease:
(a) Tenant fails to pay any amount required under this Lease as and when rental due hereunder on the date the same becomes due and said shall be due, or (ii) any failure is not cured within ten (10) days after written notice thereof from Landlord; (b) Tenant fails to perform any other termof the terms, condition, conditions or obligation under covenants of this Lease and said failure is not cured within to be observed or performed by Tenant for more than thirty (30) days after written notice thereof from Landlord. Upon of such failure shall have been given to Tenant, provided if such failure cannot be cured within said thirty (30) day period, such period shall be extended so long as Tenant commence cure within said period and continues to diligently pursue cure thereafter, or (iii) if Tenant or an agent of Tenant shall falsify any report required to be furnished to Landlord pursuant to the occurrence terms of this Lease, or (iv) if Tenant or any guarantor of this Lease shall become bankrupt or insolvent, or file any debtor proceedings or any person shall take or have against Tenant or any guarantor of this Lease in any court pursuant to any statute either of the United States or of any state a petition of bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Tenant’s or any such guarantor’s property and such proceedings or petition is not withdrawn within forty-five (45) days after filing, or (v) if Tenant or any such guarantor makes an assignment for the benefit or creditors, or (vi) if Tenant shall suffer this Lease to be taken under any writ of execution, then in any such event Tenant shall be in default by Tenanthereunder (each of the foregoing is an “Event of Default”), Landlord and Landlord, in addition to other rights or remedies it may have, shall have the option to pursue any one immediate right of re-entry and may remove all persons and property from the Premises and such property may be removed and stored in a public warehouse or more elsewhere at the cost of, and for the account of the following remedies Tenant, all without any additional service of notice or demand whatsoever: terminate this Leaseresort to legal process and without being guilty of trespass, in or becoming liable for any loss or damage which event Tenant shall immediately surrender may be occasioned thereby.
b. After an Event of Default, should Landlord elect to re-enter the Leased Premises to LandlordPremises, and if Tenant fails to do so Landlord mayas herein provided, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and should it take possession of the Leased Premises pursuant to legal proceedings or pursuant to any notice provided for by law, it may either terminate this Lease or it may from time to time, without terminating this Lease, make such alterations and expel or remove Tenant and any other person who repairs as may be occupying necessary in order to relet the Leased Premises or any part thereofPremises, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of relet the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable upon such term or terms (which may be for prosecution or any claim for damages therefor, with or without having terminated a term extending beyond the Term of this Lease) and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable. In addition Upon each such subletting all rentals received by Landlord from such reletting shall be applied first to the payment of any indebtedness other remedies provided in this Leasethan rent due hereunder from Tenant to Landlord; second, and anything contained herein to the contrary notwithstandingpayment of any costs and expenses of such reletting, including brokerage fees and attorney’s fees and costs of such alterations and repairs; third, to the payment of the rent due and unpaid payment of future rent as the same may become due and payable hereunder. If such rentals received from such reletting during any month be less than that to be paid during that month by Tenant hereunder, Tenant, upon demand, shall pay any such deficiency to Landlord. No such re-entry or taking possession of the Premises by Landlord shall be construed as an election on its part to terminate this Lease unless a written notice of such intention is given to Tenant or unless the termination thereof is decreed by a court of competent
jurisdiction. Notwithstanding any such reletting without termination, Landlord may at any time after such re-entry and reletting elect to terminate this Lease for any such Event of Default, in addition to any other remedies it may have, it may recover from Tenant all damages it may incur by reason of such Event of Default, including the cost of recovering the Premises, reasonable attorney’s fees, and including the worth (using a present value calculated using a six percent discount rate) at the time of such termination of the excess, if any, of the amount of rent and charges equivalent to rent reserved in this Lease for the remainder of the stated term, minus the amount of rental loss which Tenant proves could have been reasonably avoided, all of which amounts shall be immediately due and payable from Tenant to Landlord. Landlord shall also be entitled to restrain any default other amounts necessary to compensate Landlord for all detriment proximately caused by Tenant’s failure to comply with the requirements of this Lease.
c. Landlord may, at its option, instead of exercising any other rights or violationremedies available to it in this Lease or otherwise by law, statute or attempted or threatened default or violation equity, spend such money as is reasonably necessary to cure any Event of Default of Tenant herein and the amount so spent, and costs incurred, including attorney’s fees in curing such Event of Default, shall be paid by Tenant, as Additional Rent, upon demand.
d. After an Event of Default, in the event suit shall be brought for recovery of possession of the Premises, for the recovery of rent of any of other amount due under the terms, covenants, conditions or other provisions of this Lease, by injunctionor because of the breach of any other covenant herein contained on the part of Tenant to be kept or performed, order of specific performance or other appropriate equitable relief. The remedies provided and a breach shall be established, Tenant shall pay to Landlord hereunder are intended all expenses incurred therefore, including a reasonable attorney’s fee, together with interest on all such expenses at the rate of ten percent (10%) per annum from the date of such breach of the covenants of this Lease.
e. Tenant hereby expressly waives any and all rights of redemption granted by or under any present or future laws in the event of Tenant being evicted or dispossessed for any cause, or in the event of Landlord obtaining possession of the Premises, by reason of the violation by Tenant of any of the covenants or conditions of this Lease, or otherwise. Tenant also waives any demand for possession of the Premises, and any demand for payment of rent and any notice of intent to re-enter the Premises, or of intent to terminate this Lease, other than the notices above provided in this Article, and waives any and every other notice or demand prescribed by any applicable statues or laws.
f. No remedy herein or elsewhere in this Lease or otherwise by law, statute or equity, conferred upon or reserved to Landlord or Tenant shall be exclusive of any other remedy, but shall be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right from time to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to time and as often as the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇occasion may arise.
Appears in 1 contract
Default of Tenant. Each of the following shall constitute a default by Tenant under this Lease:
(a) Tenant fails to pay any amount required under this Lease as and when the same becomes due and said failure is not cured within ten (10) days after written notice thereof from Landlord; (b) Tenant fails to perform any other term, condition, or obligation under this Lease and said failure is not cured within thirty (30) days after written notice thereof from Landlord. Upon the occurrence of any such default by Tenant, Landlord shall have the option to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇Tenant, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇Tenant.
Appears in 1 contract
Sources: Lease Agreement
Default of Tenant. Each of the following shall constitute a default by Tenant under this Lease:
(a) Tenant fails In the event of any failure of Lessee to pay any amount required under this Lease as and when the same becomes rental due and said failure is not cured hereunder within ten (10) days after written notice thereof from Landlord; (b) Tenant fails the same shall be due, or any failure to perform any other of the term, condition, condition or obligation under covenant of this Lease and said failure is not cured within to be observed or performed by Lessee for more than thirty (30) days after written notice thereof from Landlord. Upon of such failure shall have been given to Lessee, or if Lessee or an agent of Lessee shall falsify any report required to be furnished to Lessor pursuant to the occurrence terms of this Lease, or if Lessee or any guarantor of this Lease shall become bankrupt or insolvent, or file any debtor proceedings or any person shall take or have against Lessee or any guarantor of this Lease in any court pursuant to any statute either of the United States or of any state a petition in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Lessee's or any such guarantor's property, or if Lessee or any such guarantor makes an assignment for the benefit of creditors, or petitions for or enters into an arrangement, or if Lessee shall abandon the Demised Premises or suffer this Lease to be taken under any writ of execution, then in any such event Lessee shall be in default by Tenanthereunder, Landlord and Lessor, in addition to other rights of remedies it may have, shall have the option to pursue any one immediate right of re-entry and may remove all persons and property from the Demised Premises and such property may be removed and stored in a public warehouse or more elsewhere at the cost of and for the account of the following remedies Lessee, all without any additional service of notice or demand whatsoever: terminate this Leaseresort to legal process and without being guilty of trespass, in or becoming liable for any loss or damage which event Tenant shall immediately surrender may be occasioned thereby.
(b) Should Lessor elect to re-enter the Leased Demised Premises to Landlordas herein provided, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and should it take possession of the Leased Demised Premises pursuant to legal proceedings or pursuant to any notice provided for by law, it may either terminate this Lease or it may from time to time, without terminating this Lease, make such alterations, and repairs as may be necessary in order to relet the Demised Premises and expel or remove Tenant and any other person who may be occupying relet the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Demised Premises or any part thereof for such term or terms (which may be for a term extending beyond the term of this Lease) and at such rental or rentals and upon such other terms and conditions as Lessor in its sole discretion may deem advisable. Upon each such subletting all rentals received by the Lessor from such reletting shall be applied first to the payment of any indebtedness other than rent due hereunder from Lessee to Lessor; second, to the payment of any costs and expenses of such reletting, including brokerage fees, attorney's fees and costs; third, to the payment of accrued and unpaid rent hereunder, and the remainder, if any, shall be held by Lessor and applied in payment of future rent as the same may become due and payable hereunder. If such rentals received from such reletting during any month are less than that to be paid during that month by Lessee hereunder, Lessee, upon demand, shall pay any such deficiency to Lessor. No such re-entry or taking possession of the Demised Premises by Lessor shall be construed as an election on Lessor's part to terminate this Lease unless a written notice of such intention be given to Lessee or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding any such reletting without being liable termination, Lessor may at any time after such re-entry and reletting elect to terminate this Lease for prosecution such previous breach. Should Lessor at any time terminate this Lease for any such breach, in addition to any other remedies it may have, it may recover from Lessee all damages it may incur by reason of such breach, including the cost of recovering the Demised Premises, the cost of reletting the Demises premises, reasonable attorney's fees, and including the worth at the time of such termination of the excess, if any, of the amount of rent and charges equivalent to rent reserved in this Lease for the remainder of the stated term over the then reasonable rental value of the Demised Premises for the remainder of the stated term, all of which amounts shall be immediately due and payable from Lessee to Lessor.
(c) Lessor may, at its option, instead of exercising any other rights or remedies available to it in this Lease or otherwise by law, statute or equity, spend such money as is reasonable necessary to cure any default of Lessee herein and the amount so spent, and costs incurred, including attorney's fees in curing such default, shall be paid by Lessee, as Additional Rent, upon demand.
(d) In the event suit shall be brought for recovery of possession of the Demised Premises, for the recovery of rent or any claim for damages thereforother amount due under the provisions of this Lease or because of the breach of any other covenant herein contained on the part of the Lessee to be kept or performed, and a breach shall be established, Lessee shall pay to Lessor all expenses incurred therefore, including a reasonable attorney's fee, together with or without having terminated interest on all 123 such expenses at the rate of eighteen percent (18%) per annum from the date of such breach of the covenants of this Lease. In addition to .
(e) Lessee hereby expressly waives any and all rights of redemption granted by or under any present or future laws in the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain event of Lessee being evicted or dispossessed for any default or violationcause, or attempted or threatened default or in the event of Lessor obtaining possession of the Demised Premises, by reason of the violation by Lessee of any of the terms, covenants, covenants or conditions or other provisions of this Lease, or otherwise. Lessee also waives any demand for possession of the Demised Premises, and any demand for payment of rent and any notice of intent to re-enter the Demised Premises, or of intent to terminate this Lease, other than the notices provided in this Article, and waives any and every other notice or command prescribed by injunctionany applicable statutes or laws.
(f) No remedy herein or elsewhere in this Lease or otherwise by law, order statute or equity, conferred upon or reserved to Lessor or Lessee shall be exclusive of specific performance or any other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to remedy, but shall be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right from time to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to time and as often as the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇occasion may arise.
Appears in 1 contract
Sources: Office/Warehouse Lease (Childrens Broadcasting Corp)
Default of Tenant. (a) Each of the following events shall constitute a default "Default" by Tenant under this Lease:
(ai) If Tenant fails to pay any amount required under this Lease as Rent when due, and when Tenant does not cure the same becomes due and said failure is not cured within ten (10) days after written Landlord shall have given notice thereof from Landlord; to Tenant of such failure.
(bii) If Tenant fails to perform comply with any of its other termobligations of this Lease, condition, or obligation under this Lease and said Tenant does not cure the failure is not cured within thirty (30) days after written notice thereof from Landlord. Upon the occurrence of any such default by Tenant, Landlord shall have given notice to Tenant of such failure.
(iii) If Tenant shall make an assignment for the option benefit of creditors; file or acquiesce to pursue a petition in any one court (whether or more not pursuant to any statute of the following remedies without United States or of any additional notice state) in any bankruptcy, reorganization, composition, extension, arrangement or demand whatsoever: terminate this Leaseinsolvency proceedings; or make an application in any such proceedings for an acquiesce to the appointment of a trustee or receiver for it or all of any portion of its property.
(iv) If any petition shall be filed against Tenant, to which Tenant acquiesces in which event any court (whether or not pursuant to any statute of the United States or any state) in any bankruptcy, reorganization, composition, extension, arrangement or insolvency proceedings, and Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to thereafter be adjudicated a bankrupt; such petition shall be approved by any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages thereforsuch court; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available proceedings shall not be deemed dismissed, discontinued or vacated within sixty days.
(v) If, any proceeding, pursuant to the application of any person other than Tenant to which Tenant acquiesces a receiver or trustee shall be an acceptance appointed for Tenant for all or surrender any portion of the Leased Premises by ▇▇▇▇▇▇, whether by agreement property of Tenant and such receivership or by operation of law, it being understood that trusteeship shall not be set aside within sixty days after such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇appointment.
Appears in 1 contract
Default of Tenant. Each The occurrence of any of the following shall constitute a default of this Lease by Tenant under this Lease:
(collectively and individually, a “Default of Tenant”): (a) (I) If Tenant fails shall default in its obligations to pay the Fixed Rent or Additional Rent or any amount required other charges or amounts under this Lease as and when the same becomes due and said failure is not cured within ten (10) days after written notice thereof from Landlord; (b) Tenant fails to perform any other term, condition, or obligation shall default in complying with its obligations under Sections 4.4 or 6.1.11 of this Lease and said failure is not cured if any such default shall continue for five (5) Business Days after notice from Landlord designating such default, or (II) if within thirty (30) days after written notice thereof from Landlord. Upon the occurrence of any such default by Tenant, Landlord shall have the option to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain specifying any default or violationdefaults other than those set forth in clause (I) Tenant has not cured the default or defaults so specified, provided that, if not curable with reasonable diligence within thirty (30) days but curable within one hundred twenty (120) days and Tenant has exercised reasonable diligence to cure such failure, no Default of Tenant shall exist as long as Tenant shall in fact remedy such failure within such 120-day period; or (b) if any assignment shall be made by Tenant for the benefit of creditors and is not discharged within sixty (60) days; or (c) if a lien or other involuntary encumbrance shall be filed against Tenant’s leasehold interest due to Tenant’s acts, and shall not be discharged within sixty (60) days thereafter; or (d) if a voluntary petition shall be filed by Tenant for liquidation, or attempted for reorganization or threatened default an arrangement under any provision of any bankruptcy law or violation of code as then in force and effect; or (e) if an involuntary petition under any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance any bankruptcy law or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to code shall be cumulative, filed against Tenant and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available involuntary petition shall not be deemed dismissed within one hundred twenty (120) days thereafter; or (f) if a receiver shall be authorized or appointed to be an acceptance take charge of all or surrender substantially all of the Leased Premises assets of Tenant and is not discharged within ninety (90) days; or (g) if Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation; or (h) if any order shall be entered in any proceeding by ▇▇▇▇▇▇or against Tenant decreeing or permitting the dissolution of Tenant or the winding up of its affairs and is not discharged within ninety (90) days. The notice periods provided herein are in lieu of, whether and not in addition to, any notice periods provided by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇.
Appears in 1 contract
Sources: Lease (Surgalign Holdings, Inc.)
Default of Tenant. Each a. In the event of the following shall constitute a default by any (i) failure of Tenant under this Lease:
(a) Tenant fails to pay any amount required under this Lease as and when rental due hereunder on the date the same becomes due and said shall be due, or (ii) any failure is not cured within ten (10) days after written notice thereof from Landlord; (b) Tenant fails to perform any other termof the terms, condition, conditions or obligation under covenants of this Lease and said failure is not cured within to be observed or performed by Tenant for more than thirty (30) days after written notice thereof from Landlord. Upon of such failure shall have been given to Tenant, provided if such failure cannot be cured within said thirty (30) day period, such period shall be extended so long as Tenant commence cure within said period and continues to diligently pursue cure thereafter, or (iii) if Tenant or an agent of Tenant shall falsify any report required to be furnished to Landlord pursuant to the occurrence terms of this Lease, or (iv) if Tenant or any guarantor of this Lease shall become bankrupt or insolvent, or file any debtor proceedings or any person shall take or have against Tenant or any guarantor of this Lease in any court pursuant to any statute either of the United States or of any state a petition of bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Tenant’s or any such guarantor’s property and such proceedings or petition is not withdrawn within forty-five (45) days after filing, or (v) if Tenant or any such guarantor makes an assignment for the benefit or creditors, or (vi) if Tenant shall suffer this Lease to be taken under any writ of execution, then in any such event Tenant shall be in default by Tenanthereunder (each of the foregoing is an “Event of Default”), Landlord and Landlord, in addition to other rights or remedies it may have, shall have the option to pursue any one immediate right of re-entry and may remove all persons and property from the Premises and such property may be removed and stored in a public warehouse or more elsewhere at the cost of, and for the account of the following remedies Tenant, all without any additional service of notice or demand whatsoever: terminate this Leaseresort to legal process and without being guilty of trespass, in or becoming liable for any loss or damage which event Tenant shall immediately surrender may be occasioned thereby.
b. After an Event of Default, should Landlord elect to re-enter the Leased Premises to LandlordPremises, and if Tenant fails to do so Landlord mayas herein provided, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and should it take possession of the Leased Premises pursuant to legal proceedings or pursuant to any notice provided for by law, it may either terminate this Lease or it may from time to time, without terminating this Lease, make such alterations and expel or remove Tenant and any other person who repairs as may be occupying necessary in order to relet the Leased Premises or any part thereofPremises, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of relet the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable upon such term or terms (which may be for prosecution or any claim for damages therefor, with or without having terminated a term extending beyond the Term of this Lease) and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable. In addition Upon each such subletting all rentals received by Landlord from such reletting shall be applied first to the payment of any indebtedness other remedies provided in this Leasethan rent due hereunder from Tenant to Landlord; second, and anything contained herein to the contrary notwithstandingpayment of any costs and expenses of such reletting, including brokerage fees and attorney’s fees and costs of such alterations and repairs; third, to the payment of the rent due and unpaid payment of future rent as the same may become due and payable hereunder. If such rentals received from such reletting during any month be less than that to be paid during that month by Tenant hereunder, Tenant, upon demand, shall pay any such deficiency to Landlord. No such re-entry or taking possession of the Premises by Landlord shall be construed as an election on its part to terminate this Lease unless a written notice of such intention is given to Tenant or unless the termination thereof is decreed by a court of competent jurisdiction. Notwithstanding any such reletting without termination, Landlord may at any time after such re-entry and reletting elect to terminate this Lease for any such Event of Default, in addition to any other remedies it may have, it may recover from Tenant all damages it may incur by reason of such Event of Default, including the cost of recovering the Premises, reasonable attorney’s fees, and including the worth (using a present value calculated using a six percent discount rate) at the time of such termination of the excess, if any, of the amount of rent and charges equivalent to rent reserved in this Lease for the remainder of the stated term, minus the amount of rental loss which Tenant proves could have been reasonably avoided, all of which amounts shall be immediately due and payable from Tenant to Landlord. Landlord shall also be entitled to restrain any default other amounts necessary to compensate Landlord for all detriment proximately caused by Tenant’s failure to comply with the requirements of this Lease.
c. Landlord may, at its option, instead of exercising any other rights or violationremedies available to it in this Lease or otherwise by law, statute or attempted or threatened default or violation equity, spend such money as is reasonably necessary to cure any Event of Default of Tenant herein and the amount so spent, and costs incurred, including attorney’s fees in curing such Event of Default, shall be paid by Tenant, as Additional Rent, upon demand.
d. After an Event of Default, in the event suit shall be brought for recovery of possession of the Premises, for the recovery of rent of any of other amount due under the terms, covenants, conditions or other provisions of this Lease, by injunctionor because of the breach of any other covenant herein contained on the part of Tenant to be kept or performed, order of specific performance or other appropriate equitable relief. The remedies provided and a breach shall be established, Tenant shall pay to Landlord hereunder are intended all expenses incurred therefore, including a reasonable attorney’s fee, together with interest on all such expenses at the rate of ten percent (10%) per annum from the date of such breach of the covenants of this Lease.
e. Tenant hereby expressly waives any and all rights of redemption granted by or under any present or future laws in the event of Tenant being evicted or dispossessed for any cause, or in the event of Landlord obtaining possession of the Premises, by reason of the violation by Tenant of any of the covenants or conditions of this Lease, or otherwise. Tenant also waives any demand for possession of the Premises, and any demand for payment of rent and any notice of intent to re-enter the Premises, or of intent to terminate this Lease, other than the notices above provided in this Article, and waives any and every other notice or demand prescribed by any applicable statues or laws.
f. No remedy herein or elsewhere in this Lease or otherwise by law, statute or equity, conferred upon or reserved to Landlord or Tenant shall be exclusive of any other remedy, but shall be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right from time to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to time and as often as the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇occasion may arise.
Appears in 1 contract
Default of Tenant. Each A. If any one or more of the following occurs: (1) a rent payment or any other payment due from Tenant to Landlord shall constitute a default by Tenant under this Lease:
(a) Tenant fails to pay any amount required under this Lease as be and when the same becomes due and said failure is not cured within remain unpaid in whole or in part for more than ten (10) days after Tenant’s receipt of written notice thereof that the same is past due, provided however that Landlord shall only be obligated to provide two (2) such notices in any 12-month period, and thereafter it shall be a default if a rent payment or any other payment due from LandlordTenant to Landlord shall be and remain unpaid in whole or in part for more than ten (10) days after the same is due; (b2) Tenant fails to perform shall violate or default on any of the other termcovenants, conditionagreements, stipulations or obligation under this Lease conditions herein, and said failure is not cured within such violation or default shall continue for a period of thirty (30) days after written notice thereof from Landlord of such violation or default (which 30-day period shall be subject to reasonable extension, up to a total of 60 days, provided Tenant has commenced cure and is diligently pursuing the same to completion), except that if a specific time period following notice by Landlord for Tenant to cure such violation or default is set forth elsewhere in this Lease Agreement, no additional period of notice and cure shall be afforded under this Article; (3) Tenant shall commence or have commenced against Tenant proceedings under a bankruptcy, receivership, insolvency or similar type of action; or (4) Tenant shall purport to assign this Lease Agreement or sublet, license, mortgage or transfer this Lease Agreement or the Premises hereunder in violation of the provisions of Article 16 of this Lease Agreement; then it shall be optional for Landlord. Upon the occurrence of any , without further notice or demand, to cure such default by or to declare this Lease Agreement forfeited and the said Term ended, or to terminate only Tenant, Landlord shall have the option 's right to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises Premises, and expel or remove Tenant to re-enter the Premises, subject to applicable Laws, and any other person who may Landlord shall not be occupying the Leased Premises or any part thereof, without being liable for prosecution damages by reason of such forfeiture or any claim re-entry; but notwithstanding re-entry by Landlord or termination only of damages therefor; or enter upon and take Tenant's right to possession of the Leased Premises Premises, the liability of Tenant for the rent and expel all other sums provided herein shall not be relinquished or remove Tenant extinguished for the balance of the Term of this Lease Agreement and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain periodically ▇▇▇ Tenant for all sums due under this Lease Agreement or which become due prior to judgment, but such suit shall not bar subsequent suits for any default or violationfurther sums coming due thereafter. Tenant shall be responsible for, or attempted or threatened default or violation in addition to the rentals and other sums agreed to be paid hereunder (as more particularly set forth below), the reasonable cost of any necessary maintenance, repair, restoration, reletting (including related cost of removal or modification of tenant improvements) or cure as well as reasonable attorneys’ fees incurred or awarded in any suit or action instituted by Landlord to enforce the terms, covenants, conditions or other provisions of this LeaseLease Agreement, by injunctionregain possession of the Premises, order or the collection of specific performance the rentals due Landlord hereunder. Tenant shall also be liable to Landlord for the payment of a late charge in the amount of five percent (5%) of the rental installment or other appropriate equitable relief. The remedies provided to sum due Landlord hereunder are intended if said payment has not been received within ten (10) days from the date said payment becomes due and payable. Tenant agrees to pay interest at the rate of ten percent (10%) per annum or the maximum permissible rate under the applicable usury statutes, whichever is less, on all rentals and other sums due Landlord hereunder not paid within ten (10) days from the date same become due and payable. All of Landlord’s rights and remedies under this Lease Agreement shall be cumulative, cumulative with and in addition to any and all rights and remedies which Landlord may be exercised by Landlord have at law or in equity. Any specific right or remedy provided for in any order, provision of this Lease Agreement shall not preclude the concurrent or simultaneously, without such consecutive exercise being of a waiver by Landlord of its right to exercise or remedy provided for in any other remedy granted provision hereof. Landlord shall exercise at least the level of effort required by applicable Laws to Landlord hereunder (mitigate its damages.
B. Notwithstanding anything in Article 20 A above or under applicable Laws) with respect elsewhere in this Lease Agreement to the same default. Exercise contrary, in the event Tenant shall vacate the Premises for a period of ninety (90) consecutive days (other than due to casualty loss or for temporary purposes such as remodeling or renovation), such vacation by Landlord of any one or more remedies hereunder granted or otherwise available Tenant alone shall not be deemed a default by Tenant under this Lease Agreement, but in such case Landlord shall have the option, but not the obligation, to be an acceptance or surrender terminate this Lease Agreement by giving written notice of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇termination to Tenant.
Appears in 1 contract
Sources: Lease Agreement (SomaLogic, Inc.)
Default of Tenant. Each of the The following events shall constitute be a default by ("Default") of Tenant under this Lease:
1. Failure of Tenant to pay any Rent when due.
2. Failure of Tenant to perform or comply with any provision of this Lease to be performed or complied with by Tenant (aother than provisions for the payment of Rent), and such failure continues for fifteen (15) days after notice from Landlord to Tenant specifying the failure (provided, however, if such failure cannot be cured within such fifteen (15) day period, Tenant shall not be in default if Tenant, within such fifteen (15) day period, commences and diligently proceeds with all actions necessary to cure such failure); provided, however, that if Tenant has received two (2) such notices within the immediately preceding 365-day period, no notice of any such failure shall be required.
3. If Tenant, any guarantor of Tenant or, if Tenant is a partnership or consists of two or more persons, any such partner or person, shall file a voluntary petition in bankruptcy or insolvency, or shall be adjudicated a bankrupt or insolvent, or shall file a petition or answer seeking any reorganization, arrangement composition, readjustment, liquidation, dissolution, or similar relief under the present or any future federal bankruptcy acts or any other present or future applicable federal, state, or other statue or law, or shall make an assignment for the benefit of creditors, or shall seek or consent to or acquiesce in the appointment of a trustee, receiver or liquidator of Tenant or of such guarantor, partner, or person.
4. If any proceeding seeking reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under the present or any future bankruptcy act or any other present or future applicable federal, state or other statute or law, is filed against Tenant, any guarantor of Tenant, or, if Tenant is a partnership, against any such partner of Tenant, whether by filing of a petition or otherwise, and such preceding shall not have been dismissed within ninety (90) days after the filing thereof; or if a trustee, receiver or liquidator is appointed for Tenant or for any guarantor or, if Tenant is a partnership, any such partner of Tenant, without the consent or acquiescence of Tenant, and such appointment shall not have been vacated or otherwise discharged within ninety (90) days after such appointment; or, if any execution or attachment shall be issued against the property of Tenant or of any guarantor or partner of Tenant, pursuant to which execution or attachment the Premises shall be taken or occupied or attempted to be taken or occupied; or
5. If Tenant fails to pay any amount required under this Lease as and when the same becomes due and said failure is not cured within ten (10) days after written notice thereof from Landlord; (b) Tenant fails to perform any other term, condition, or obligation under this Lease and said failure is not cured within thirty (30) days after written notice thereof from Landlord. Upon the occurrence of any such default by Tenant, Landlord shall have the option to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel as of the Lease Commencement Date or remove Tenant and any other person who may be occupying vacates or abandons the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession ceases to carry on its ordinary activities in the Premises prior to normal expiration of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇Term.
Appears in 1 contract
Sources: Lease (MPC Corp)
Default of Tenant. 20.1 Each of the following shall constitute a default by Tenant under this Lease:
an Event of Default: (a) Tenant fails Tenant's failure to make any payment of the Base Rent, Additional Rent or any other sum where such failure to pay any amount required under this Lease as and when the same becomes due and said failure is not cured within ten continues for five (105) days after Landlord's delivery of written notice thereof from Landlordof such failure to pay; (b) Tenant fails Tenant's failure to perform any other term, condition, or obligation under this Lease and said failure is not cured take possession of the Premises within thirty (30) days after written notice to Tenant that the same are Substantially Complete; (c) Tenant's violation or failure to perform or observe any other covenant or condition within thirty (30) days after notice thereof from Landlord. Upon ; or if such violation or failure is remediable but is of such a nature that it cannot be remedied within such thirty day period, then for such longer period as may reasonably be required provided that Tenant promptly commences and diligently pursues such remedy to completion; (d) Tenant's abandonment or vacation of the occurrence Premises; (e) an Event of any such default by Bankruptcy as specified in Article XXI with respect to Tenant, any general partner of Tenant (a "General Partner") or any Guarantor; or (f) Tenant's dissolution or liquidation.
20.2 If there shall be an Event of Default, including an Event of Default prior to the Lease Commencement Date, then Landlord shall have the option right, at its sole option, to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease. In addition, in which event Tenant shall immediately surrender the Leased Premises to Landlordwith or without terminating this Lease, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rentre-enter, enter upon terminate ▇▇▇▇▇▇'s right of possession and take possession of the Leased Premises and expel or remove Tenant and Premises. The provisions of this Article shall operate as a notice to quit, any other person who notice to quit or of Landlord's intention to re-enter the Premises being hereby expressly waived. If necessary, Landlord may proceed to recover possession of the Premises under and by virtue of the laws of the Commonwealth of Virginia, or by such other proceedings, including re-entry and possession, as may be occupying applicable. If Landlord elects to terminate this Lease and/or elects to terminate Tenant's right of possession, then everything contained in this Lease to be done and performed by Landlord shall cease, without prejudice, however, to ▇▇▇▇▇▇▇▇'s right to recover from Tenant all rent and other sums accrued through the Leased later of termination or Landlord's recovery of possession. Whether or not this Lease and/or ▇▇▇▇▇▇'s right of possession is terminated, Landlord may, but shall not be obligated to, relet the Premises or any part thereof, without being alone or together with other premises, for such rent and upon such terms and conditions (which may include concessions or free rent and alterations of the Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for, nor shall Tenant's obligations be diminished by reason of, Landlord's failure to relet the Premises or collect any rent due upon such reletting. Whether or not this Lease is terminated, Tenant nevertheless shall remain liable for prosecution any Base Rent, Additional Rent or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who which may be occupying due or sustained prior to such default, all costs, fees and expenses (including without limitation reasonable attorneys fees, brokerage fees, expenses incurred in placing the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition in rentable condition and tenant finish necessitated to obtain the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised new tenant) incurred by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord pursuit of its right remedies and in renting the Premises to exercise any other remedy granted others from time to Landlord hereunder time. Tenant shall also be liable for additional damages which at Landlord's election shall be either:
(or under applicable Lawsa) with respect an amount equal to the same default. Exercise by Base Rent and additional rent which would have become due during the remainder of the Lease Term, less the amount of rental, if any, which Landlord receives during such period from others to whom the Premises may be rented (other than any Additional Rent payable as a result of any one or more remedies hereunder granted or otherwise available failure of such other person to perform any of its obligations), which damages shall not be deemed to be an acceptance or surrender computed and payable in monthly installments, in advance, on the first day of each calendar month following Tenant's default and continuing until the Leased Premises by date on which the Lease Term would have expired but for ▇▇▇▇▇▇'s default. Separate suits may be brought to collect any such damages for any month(s), whether and such suits shall not in any manner prejudice Landlord's right to collect any such damages for any subsequent month(s), or Landlord may defer any such suit until after the expiration of the Lease Term, in which event the cause of action shall be deemed not to have accrued until the expiration of the Lease Term; or
(b) an amount equal to the present value (as of the date of Tenant's default) of the Base Rent and Additional Rent which would have become due during the remainder of the Lease Term, which damages shall be payable to Landlord in one lump sum on demand. For purpose of this Section, present value shall be computed by agreement discounting at a rate equal to one (1) whole percentage point above the discount rate then in effect at the Federal Reserve Bank of New York. Tenant waives any right of redemption, re-entry or by restoration of the operation of this Lease under any present or future law, it being understood that including any such surrender can right which Tenant would otherwise have if Tenant shall be affected only dispossessed for any cause.
20.3 Landlord's rights and remedies set forth in this Lease are cumulative and in addition to ▇▇▇▇▇▇▇▇'s other rights and remedies at law or in equity, including those available as a result of any anticipatory breach of this Lease. Landlord's exercise of any such right or remedy shall not prevent the concurrent or subsequent exercise of any other right or remedy. Landlord's delay or failure to exercise or enforce any of Landlord's rights or remedies or Tenant's obligations shall not constitute a waiver of any such rights, remedies or obligations. Landlord shall not be deemed to have waived any default unless such waiver expressly is set forth in an instrument signed by Landlord. If Landlord waives in writing any default, then such waiver shall not be construed as a waiver of any covenant or condition set forth in this Lease except as to the specific circumstances described in such written agreement waiver. Neither Tenant's payment of Landlord a lesser amount than the sum due hereunder nor ▇▇▇▇▇▇'s endorsement or statement on any check or letter accompanying such payment shall be deemed an accord and satisfaction, and ▇▇▇▇▇▇▇▇ may accept the same without prejudice to Landlord's right to recover the balance of such sum or to pursue any other remedy available to Landlord. ▇▇▇▇▇▇▇▇'s re-entry and acceptance of keys shall not be considered an acceptance of a surrender of this Lease.
20.4 If more than one natural person and/or entity shall execute this Lease as Tenant, then the liability of each such person or entity shall be joint and several. Similarly, if Tenant is a general partnership or other entity the partners or members of which are subject to personal liability, then the liability of each such partner or member shall be joint and several.
20.5 If Tenant fails to make any payment to any third party or do any act herein required to be made or done by Tenant, then Landlord may, but shall not be required to, make such payment or do such act. ▇▇▇▇▇▇▇▇'s taking such action shall not be considered a cure of such failure by Tenant or prevent Landlord from pursuing any remedy to which it is otherwise entitled in connection with such failure. If Landlord elects to make such payment or do such act, then all expenses incurred, plus interest thereon at the lesser of (i) a rate per annum (the "Default Rate") which is five (5) whole percentage points higher than the highest Prime Rate as published in the Wall Street Journal's Money Rates Column or if such rate is no longer published then the rate which is five (5) whole percentage points in excess of the Prime Rate of NationsBank of Virginia, N.A., or (ii) the highest non-usurious rate permitted under the laws of the jurisdiction where the Building is located, from the date incurred to the date of payment thereof by Tenant, shall constitute Additional Rent.
Appears in 1 contract
Default of Tenant. Each A. In the event Tenant fails to cure any default after ten (10) days of written notifica- tion from Landlord, at any time prior to the Rent Commencement Date, Landlord shall have the right, at its option, to terminate this Lease and to retain all monies theretofore paid by Tenant as liquidated damages. Landlord shall, in lieu thereof, have the option to continue specifically to enforce the terms of this Lease. After the Rent Commencement Date, the occurrence of any one or more of the following events shall constitute a material default by Tenant under this Lease:
(a) 1. The failure by Tenant fails to pay make any amount required payment of rent or any other sum re- quired to be made by Tenant under this Lease as and when the same becomes due and said failure is not cured within ten (10) days after Tenant is in receipt of written notice thereof notification from Landlord; (b) Landlord of failure to make payment of rent or other sums.
2. Tenant fails Transfers or mortgages or agrees to perform any other term, condition, Transfer or obligation under mortgage this Lease and said or possession of all or any portion of the Leased Premises without Land- lord’s prior written consent.
3. The failure is to comply with any of the other obligations of Tenant as pro- vided in this Lease within a reasonable time following its due date, but not cured within later than thirty (30) days after written notice thereof by Landlord to Tenant speci- fying Tenant’s failure to perform such obligation; provided, however, that if the nature of Tenant’s obligation is such that more than thirty (30) days are required for performance (and subject to further extension pursuant to Paragraph 31.0 hereof), then Tenant shall not be in default if Tenant com- mences performance within such thirty (30) day period and thereafter dili- gently prosecutes its efforts to satisfy such obligation..
B. In the event Tenant or any guarantor of this Lease shall become bankrupt or insol- vent, file any debtor proceedings, or take or have taken against Tenant or any guar- antor of this Lease in any court pursuant to any statute either of the United States or of any state a petition in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Tenant's or any such guarantor's property; or if Tenant or any such guarantor makes an assignment for the benefit of creditors or petitions for or enters into an arrangement; or if Tenant shall abandon the Leased Premises, or suffer this Lease to be taken under any writ of execution, then Landlord, in addition to all other rights or remedies it may have, shall have the immediate right to re-enter and may remove all persons and property from Landlord. Upon the Leased Premises and place and store such property in a warehouse or else- where at the cost of and for the account of Tenant, all without service of notice or resort to legal process and without being deemed guilty of trespass or becoming liable for any loss or damage which may be occasioned thereby.
C. On the occurrence of any such default of this Lease by Tenant, Landlord may at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of a right or remedy which Landlord may have by reason of such default do the following:
1. Landlord may, but shall have the option to pursue not be obligated to, perform any one or more of the following remedies without obligations of Tenant in default (including, but not limited to, payment of any additional notice or demand whatsoever: terminate sum, obtaining and maintaining any insurance policies, and maintaining and repairing the Leased Premises and Landlord may enter upon the Leased Premises for such purpose and take all such action thereon as may be nec- ▇▇▇▇▇▇ therefor. Notwithstanding anything contained in this Lease, in which the event of an emergency, Landlord shall have the right to immediately per- form the obligations of Tenant under this Lease without notice or demand and without liability to Tenant, subject to reimbursement of all liabilities, costs and expenses incurred by Landlord thereby as provided in this Section entitled “Default of Tenant.” In the event Landlord performs such obliga- tions of Tenant as provided herein, then Tenant shall immediately surrender the Leased Premises to promptly, but in no event later than five (5) business days following written demand therefor from Landlord, pay to Landlord all liabilities, costs and if Tenant fails to do so Landlord mayexpenses (includ- ing, without prejudice limitation, reasonable attorneys’ fees) incurred by Landlord arising out of, in connection with or resulting from such performance by Landlord, together with interest thereon at the highest lawful rate from the respective dates of Landlord’s making each such payment or incurring each such liability, cost and expense (subject to any other remedy which the Section entitled “Rental” hereof) until payment thereof, and same shall constitute additional rent hereunder.
2. Landlord may have for omission or arrearages elect to continue the term of this Lease in Rent, enter upon full force and take effect and not terminate Tenant's right to possession of the Leased Premises Premises, in which event Landlord shall have the right to enforce any rights and expel remedies granted by this Lease or remove Tenant and any other person who may be occupying the Leased Premises by law or any part thereofequity against Tenant, including, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of limitation, the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any collect when due rent and/or other remedy granted to sums payable here- under. Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance have elected to terminate this Lease unless Landlord gives Tenant written notice of such election to terminate. Landlord's acts of maintenance or surrender preservation of the Building or efforts to relet the Leased Premises shall not terminate this Lease; or
3. Landlord may elect by written notice to Tenant to terminate this Lease at any time after the occurrence of any default of this Lease by ▇▇▇▇▇▇. If Landlord elects to terminate this Lease, whether Landlord may, at its option, re-enter the Leased Premises. Should Landlord elect to re-enter, as herein provided, or should Landlord take possession pursuant to legal proceedings, or pursu- ant to any notice provided for by agreement or by operation of law, Landlord may either terminate this Lease or it being understood that may, from time to time, without terminating this Lease make such surrender can alterations and repairs as may be affected only necessary to relet the Leased Prem- ises and may thereafter relet the Leased Premises and any part thereof for such term or terms (which may be for a term extending beyond the Lease Term) and at such rental or rentals and upon such other terms and conditions as Landlord, in its sole discretion, may deem advisable. Upon such reletting, all rentals received by Landlord from such reletting shall be applied: first, to the written agreement payment of indebtedness other than rent due hereunder from Tenant to Landlord; second, to the payment of any costs and expenses of such re- letting, including brokerage fees and reasonable attorney's fees and of costs for repairs in the Leased Premises other than repairs for normal wear, tear, acts of God, or for damage covered by fire and casualty insurance; third, to the payment of rent due and unpaid hereunder; and the residue, if any, shall be held by Landlord and applied in payment of future rent as the same may become due and payable hereunder. If such rentals received from such re- letting during any month are less than the rental required to be paid during the month by Tenant hereunder, Tenant shall pay any such deficiency that shall be calculated and paid monthly. No such re-entry or taking possession of the Leased Premises by Landlord shall be construed as an election on its part to terminate this Lease unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of compe- tent jurisdiction. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous breach. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedies Landlord may have, Landlord may recover from Tenant all damages Landlord may incur by reason of such breach, including the costs of recovering the Leased Premises and reasona- ble attorney's fees, all of which amounts shall immediately be due and pay- able from Tenant to Landlord.
4. On termination of this Lease by reason of Tenant's default, Landlord may recover from Tenant all damages incurred by Landlord by reason of Ten- ant's default, including, but not limited to:
a. The cost of recovering possession of the Leased Premises;
b. Reasonable expenses of reletting (including, but not limited to, ad- vertising costs, necessary renovation and alteration of the Leased Premises and the cost of any concessions which Landlord gives to relet the Leased Premises, reasonable attorney's fees, and any real estate commissions paid or payable by Landlord applicable to the unexpired term of this Lease) notwithstanding the foregoing, the amount of such expenses shall not exceed the remaining amount due under the Lease, including but not necessarily limited to, Base Rent and Tenant’s proportionate share of Building Operating Expenses;
c. The worth at the time of award by a court of competent jurisdiction of the amount:
(i) of any unpaid rent which had been earned at the time of ter- mination; plus
(ii) the amount by which the unpaid 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
(iii) the amount by which the unpaid rent for the balance of Lease term after the time of award exceeds the amount of the rental loss that Tenant proves could be reasonably avoided; plus
(iv) any other amount necessary to compensate Landlord for all detriment proximately caused by ▇▇▇▇▇▇'s failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom. The worth “at the time of termination" as used in subparagraph
(i) above and the worth “at the time of award as used in sub- paragraph (ii) above is to be computed by allowing interest at the rate of eighteen percent (18%) per annum. The worth “at the time of award" as used in subparagraph (iii) above is to be computed by discounting the amount at the discount rate of the Federal Reserve Bank situated nearest to the Leased Premises at the time of the award plus one percent (1%). If, prior to an award by a court of competent jurisdic- tion, Landlord re-leases the Leased Premises following a ter- mination by reason of Tenant's default, the rent charged by Landlord on such re-leasing shall be deemed to be the rental value of the Leased Premises for the purpose of calculation of the damages which Landlord may recover from Tenant.
Appears in 1 contract
Sources: Lease Agreement
Default of Tenant. Each If any one or more of the following shall constitute a default by Tenant under this Leaseoccurs:
(a1) a rent payment or any other payment due from Tenant fails to pay any amount required under this Lease as Landlord shall be and when the same becomes due and said failure is not cured within ten remain unpaid in whole or in part for more than fifteen (1015) days after written notice thereof from Landlordsame is due and payable; (b2) Tenant fails to perform shall violate or default on any of the other covenants, agreements, stipulations or conditions herein or in any other term, condition, agreement between Landlord and Tenant relating to the Premises and such violation or obligation under this Lease and said failure is not cured within defaults shall continue for a period of thirty (30) days after written notice thereof from Landlord. Upon the occurrence Landlord of any such default by Tenant, Landlord shall have the option to pursue any one violation or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and default; (3) if Tenant fails to do so or any guarantor of this Lease Agreement shall commence or have commenced against Tenant or any guarantor proceedings under a bankruptcy, receivership, insolvency or similar types of action; or (4) Landlord may, without prejudice process, re-enter immediately into the Leased Premises and remove all persons and property therefrom and at its option, cancel this Lease as to all future rights of Tenant, and regain, repossess, and enjoy the Premises, and Tenant hereby expressly waives the right of any other remedy which Landlord may have for omission or arrearages notice in Rent, enter upon writing of intention to re-entry and take also the right of restoration to possession of the Leased Premises and expel after re-entry or remove Tenant and any other person who may be occupying the Leased Premises or any part after judgment for possession thereof, without being liable for prosecution Tenant shall be responsible for, in addition to the rentals and other sums agreed to be paid hereunder, the cost of any necessary maintenance, repair, restoration, relenting (including related cost of removal or modification of tenant improvements) or cure as well as reasonable attorney's fees incurred or awarded in any claim suit or action instituted by Landlord to enforce the provisions of damages therefor; or enter upon and take this Lease Agreement, regain possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being the collection of the rentals due Landlord hereunder. Tenant shall also be liable to Landlord for prosecution the payment of a late charge in the amount of 10% of rental installment or any claim other sum due Landlord hereunder if said payment has not been received within ten (10) days from the date said payment becomes due and payable, or cleared by Landlord's bank within six (6) business days after deposit. Each night or remedy of Landlord provided for damages therefor, with or without having terminated in this Lease. In Lease Agreement shall be cumulative and shall be in addition to the every other remedies right or remedy provided for in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default Lease Agreement now or violation, hereafter existing at law or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement equity or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇statute or otherwise.
Appears in 1 contract
Sources: Lease Amendment (Editek Inc)
Default of Tenant. Each In the event of the following shall constitute a default by any failure of Tenant under this Lease:
(a) Tenant fails to pay any amount required under this Lease as and when the same becomes rental due and said failure is not cured hereunder within ten (10) days after written notice thereof from LandlordLandlord to Tenant; (b) Tenant fails or any failure to perform any other term, condition, condition or obligation under covenant of this Lease and said failure is not cured within to be observed or performed by Tenant for more than thirty (30) days (or such additional time, in no event more than 60 additional days unless paragraph 17A.d applies, as is reasonably required to correct such failure) after written notice thereof from Landlord. Upon of such failure shall have been given to Tenant; or if Tenant or an agent of Tenant shall falsify any report required to be furnished to Landlord pursuant to the occurrence terms of this Lease; or if Tenant or any guarantor of this Lease shall become bankrupt or insolvent, or file any debtor proceedings, or any person shall take or have against Tenant or any guarantor of this Lease in any court pursuant to any statute either of the United States or of any state a petition in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Tenant's or any such default by Tenantguarantor's property, Landlord or if Tenant or any such guarantor makes an assignment for the benefit of creditors, or petitions for or enters into an arrangement; or if Tenant shall have abandon the option Demised Premises (other than as permitted under paragraph 31) or suffer this Lease to pursue be taken under any one or more writ of the following remedies without execution, then in any additional notice or demand whatsoever: terminate this Lease, in which such event Tenant shall immediately surrender the Leased Premises to be in default hereunder, and Landlord, in addition to other rights and if Tenant fails to do so Landlord mayremedies it may have, without prejudice to any other remedy which Landlord may have declare all rents reserved under this Lease for omission or arrearages in Rent, enter upon and take possession the then unexpired balance of the Leased Premises term to be immediately due and expel or payable, and shall have (as and when allowed pursuant to judicial process) the immediate right of re-entry and may remove Tenant all persons and any other person who property from the Demised Premises, and such property may be occupying removed and stored in a public warehouse or elsewhere at the Leased Premises cost and for the account of Tenant, all without service of notice or any part thereof, resort to legal process (except as required by law or this Lease) and without Landlord's being guilty of trespass or becoming liable for prosecution any loss or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who damage which may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇occasioned thereby.
Appears in 1 contract
Default of Tenant. Each of the following shall constitute a default by Tenant under this Lease:
(a) (I) If Tenant fails shall default in its obligations to pay any amount required the Annual Fixed Rent or Additional Rent when due or shall default in complying with its obligations under Sections 4.4 or 6.1.11 of this Lease as and when the same becomes due and said failure is not cured within ten if any such default shall continue for five (105) days after written notice thereof from Landlord; (b) Tenant fails to perform any other term, conditionLandlord designating such default, or obligation under this Lease and said failure is not cured (II) if as promptly as possible but in any event within thirty (30) days after written notice from Landlord to Tenant specifying any default or defaults other than those set forth in clause (I) Tenant has not cured the default or defaults so specified; or (b) if any assignment shall be made by Tenant for the benefit of creditors; or (c) if Tenant’s leasehold interest shall be taken on execution; or (d) if an involuntary lien or other involuntary encumbrance shall be filed against Tenant’s leasehold interest or Tenant’s property at the Premises and shall not be discharged within sixty (60) days after Tenant shall have been given notice thereof from Landlord. Upon the occurrence by any party; or (e) if a petition shall be filed by Tenant for liquidation, or for reorganization or an arrangement under any provision of any bankruptcy law or code as then in force and effect; or (f) if an involuntary petition under any of the provisions of any bankruptcy law or code shall be filed against Tenant and such involuntary petition shall not be dismissed within thirty (30) days thereafter; or (g) if a custodian or similar agent shall be authorized or appointed to take charge of all or substantially all of the assets of Tenant; or (h) if Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation; or (i) if any order shall be entered in any proceeding by or against Tenant decreeing or permitting the dissolution of Tenant or the winding up of its affairs; (j) if Tenant shall fail to deposit the second half of the Security Deposit with Landlord by April 5, 2013 in accordance with Section 4.7, or (k) if Tenant shall fail to pay any installment of Annual Fixed Rent or Additional Rent when due, Tenant shall cure such default by Tenantwithin the grace period provided in clause (a) (I) above (or with Landlord’s approval after the expiration of such grace period) and Tenant shall, Landlord shall have within the option next year following the date such initial defaulted payment was first due, fail more than twice to pursue pay any one installment of Annual Fixed Rent or more of Additional Rent within five (5) days after the following remedies without any additional notice or demand whatsoever: terminate this Leasedate the same is due, in which event Tenant shall immediately surrender the Leased Premises to Landlordthen, and if Tenant fails to do so in any of such cases indicated in clauses (a) through (k) hereof (collectively and individually, a “Default of Tenant”), Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter (x) give notice to Tenant terminating this Lease and/or the term hereof, which notice shall specify the date of such termination, whereupon on the date so specified, the term of this Lease and all of Tenant’s rights and privileges under this Lease shall expire and terminate or (y) without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon terminating this Lease terminate Tenant’s right of possession and/or occupancy and reenter and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises notice and expel or remove Tenant and any other person who may be occupying the Leased Premises or party claiming under Tenant and remove any part thereof of their effects, without being liable for prosecution on account thereof, whether in trespass or any claim for damages thereforbreach or covenant or otherwise, with (and no such reentry or without having terminated taking possession shall be construed as an election by Landlord to terminate this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Lease unless Landlord shall be entitled affirm such election by notice expressly to restrain any default or violationsuch effect), or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord but in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available either case Tenant shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇remain liable as hereinafter provided.
Appears in 1 contract
Sources: Lease (Mimedx Group, Inc.)
Default of Tenant. Each of the The following events shall constitute be a default by Tenant (a “Default”) under this Lease:
(a1) Failure of Tenant fails to pay any amount required under this Lease Pay Rent as and when due, if the same becomes due and said failure is not cured within ten continues for three (103) business days after notice from Landlord specifying the failure.
(2) Failure of Tenant to comply with or perform any covenant or obligation of Tenant under this Lease, other than those concerning the payment of Rent, if the failure continues for twenty (20) days after notice from Landlord to Tenant specifying the failure; provided, however, that if the failure on the part of Tenant is not capable of being cured within such 20-day period but Tenant expeditiously commences to cure same and diligently proceeds with such cure, Tenant’s time to cure such failure shall be extended for the time necessary to cure same, but in no event longer than ninety (90) days, inclusive of the original 20-day period.
(3) If Tenant’s activities in the Premises results in a continuing or repeated, credible and significant threat of physical danger to other tenants and/or users of the Building, whether or not Tenant is capable of controlling such threat, Landlord shall have the right to terminate this Lease upon ninety (90) days’ prior written notice thereof from to Tenant in which Landlord describes in reasonable detail the nature of the continuing or repeated, credible and significant threat of physical danger or such shorter notice period as may be required to avoid cancellation of Landlord’s insurance or an increase in Landlord’s insurance premium; provided, however, that such termination shall be void and of no force or effect if Tenant ceases the threatening activities prior to the expiration of such notice period or such threatening activities otherwise cease.
(b4) If Tenant, any guarantor of Tenant’s performance hereunder (a “Guarantor”) or, if Tenant fails to perform is a partnership, any partner of Tenant (“Partner”), shall file a voluntary petition in bankruptcy or insolvency, shall be adjudicated bankrupt or insolvent or shall file a petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future federal, state or other term, conditionlaw, or obligation under this Lease and said failure is not cured shall make an assignment for the benefit of creditors, or shall seek or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or of any Guarantor or Partner or of all or any part of the property of Tenant or of such Guarantor or Partner.
(5) If, within thirty (30) days after written notice thereof from Landlord. Upon the occurrence commencement of any proceeding against Tenant or a Guarantor or Partner, whether by the filing of a petition or otherwise, seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future applicable federal, state or other law, such default by Tenantproceeding shall not have been dismissed or if, Landlord within thirty (30) days after the appointment of any trustee, receiver or liquidator of Tenant or any Guarantor Or Partner, or of all or any part of the property of Tenant or of any Guarantor or Partner, without the acquiescence of such individual or entity, such appointment shall not have been vacated or otherwise discharged, or if any execution or attachment shall have been issued against the option property of Tenant or of any Guarantor or Partner, pursuant to pursue any one which the Premises shall be taken or more of the following remedies without any additional notice occupied or demand whatsoever: terminate this Lease, in which event Tenant shall immediately surrender the Leased Premises attempted to Landlord, and if be taken or occupied.
(6) If Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel on the Lease Commencement Date or remove Tenant and any other person who may be occupying vacates, abandons or ceases to carry on its ordinary activities in the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of prior to the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages thereforLease Expiration Date, with or without having terminated an intention of paying Rent; provided, however, that if (i) Tenant gives Landlord at least thirty (30) days prior written notice that it intends to vacate the Premises, (ii) Tenant pays the full amount of all Rent when due under this Lease. In addition to Lease while the Premises are vacant, (iii) the fact that the Premises is vacant does not adversely affect the Building or other remedies provided tenants therein and does not result in this Leaseany liability to, or expenditure of funds by, Landlord, and anything contained herein (iv) Tenant leaves the Premises in a condition satisfactory to Landlord and continues to maintain the contrary notwithstandingPremises, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any in the condition required by this Lease throughout the remainder of the termsTerm, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulativethen, and may be exercised by Landlord in any ordersuch event only, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available Tenant shall not be deemed to be an acceptance or surrender in Default under this Section 19.A.(6) and Landlord shall have the right, exercisable by sending written notice to Tenant, to sublet from Tenant for the balance of the Leased Term of this Lease all of the Premises by ▇▇▇▇▇▇at Tenant’s then rental rate hereunder, whether by agreement or by operation to terminate this Lease as to all or any portion of lawthe Premises, it being understood that such surrender can be affected only by the written agreement which rights of Landlord as to subletting and ▇▇▇▇▇▇termination shall be exercisable by Landlord in its sole discretion.
Appears in 1 contract
Default of Tenant. Each 10.1 Tenant shall be deemed to have defaulted under this lease upon any of the following shall constitute a default by Tenant under this Leaseevents:
(a) Tenant fails The failure to pay any amount installment of Minimum Rent, Additional Rent, or any other sum required to be paid by Tenant under this Lease as for a period of ten (10) days after such sum is due;
(b) The failure by Tenant to perform, observe, and when the same becomes due and said failure is not cured within discharge any of its other obligations under this Lease for a period of ten (10) days after written notice thereof from Landlord; of such failure is made by Landlord to Tenant;
(bc) Tenant fails to perform any other termThe expiration, conditionlapse, or obligation non-effect for any reason whatsoever of any insurance policy required of Tenant under this Lease Lease;
(d) In the event that Tenant becomes bankrupt, insolvent, files any debtor proceedings, or takes or has taken against it in any court pursuant to any statute either of the United States or of any state a petition in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Tenant's property, and said failure if such proceeding is not cured terminated within thirty (30) days after written notice thereof from Landlord. Upon the occurrence date of its commencement;
(e) If Tenant makes an assignment for the benefit of creditors;
(f) If Tenant shall abandon the Leased Premises;
(g) If Tenant's rights under this Lease are assigned by operation of law; or
(h) If Tenant shall lose its license or other privilege to conduct its business.
10.2 In the event of any such default by Tenantof the defaults specified in Section 10.1, Landlord may give to Tenant a notice of intention to cancel this Lease at the expiration of five (5) days from the date of service of such Notice, and upon the expiration of such five (5) day period, the Term of this Lease shall have the option to pursue any one or more expire, and all of the following remedies without any additional notice or demand whatsoever: terminate right, title and interest of Tenant under this LeaseLease shall terminate. Thereafter, in which event Tenant shall immediately quit and surrender the Leased Premises to Landlord; provided, however, that Tenant's liability under all of the provisions of this Lease, including Tenant's obligation to pay Minimum Rent, Additional Rent, and such other sums as may be due and payable hereunder, shall continue notwithstanding any expiration and surrender, and notwithstanding any re-entry, repossession, or dispossession by Landlord under Section 10.3, hereinafter.
10.3 Upon the expiration of the Term of this Lease, or the termination of this Lease by Landlord pursuant to Section 10.2, hereinbefore, Landlord, its agents and employees, may immediately or at any time thereafter re-enter the Leased Premises and remove Tenant, its agents, subtenants, licensees, concessionaires, and invitees, and any of its or their property from the Leased Premises. Re-entry and removal may be effectuated by any suitable action or proceeding at law or equity, by force, or otherwise. Landlord shall not be liable in any way for any action it may take pursuant to this Section. Tenant's liability to Landlord under the Terms of this Lease shall survive Landlord's re-entry, the institution of summary process proceedings, or the issuance of any warrants or executions with respect thereto.
10.4 If this Lease shall be terminated by Landlord pursuant to Section 10.2, hereinbefore, Tenant shall remain liable (in addition to accrued liabilities) to the extent legally permissible for the Minimum Rent, Additional Rent, and all other charges Tenant would otherwise have been required to pay to Landlord until the expiration of the Term of this Lease if such earlier termination had not occurred. All such amounts shall be deemed liquidated damages. Minimum Rent, Additional Rent, and other charges Tenant fails would have been required to do so pay to Landlord may(hereinafter "Rents") shall be computed as follows:
(a) The Rents shall be added to such expenses as Landlord may have incurred in re-entering and/or repossessing the Leased Premises during any default by Tenant, without prejudice painting, altering or dividing the Leased Premises for prospective tenants, combining the Leased Premises with any adjacent space for any new or prospective tenant, putting the Leased Premises in proper repair, the expenses of reletting the Leased Premises, including attorney's fees, brokerage fees, disbursements to marshals, etc., and any other remedy expenses which Landlord may have incur during the occupance of any new Tenant. From all of the foregoing sums shall be subtracted any and all proceeds Landlord may collect, if any, in reletting the Leased Premises. At the end of each month, Tenant shall pay the Rents set forth for omission that month at the address the rent was otherwise payable. Any suit brought by Landlord to enforce collection of this provision for any one month shall not prejudice Landlord's right to enforce collection for any subsequent month.
10.5 Landlord may relet all or arrearages any part of the Leased premises for all or any part of the unexpired portion of the Term of this Lease or for any longer period. Landlord may accept any rental then obtainable; grant any concessions of rent; and agree to paint or make any special repairs, alterations, or decorations for any new tenant as Landlord may deem advisable in Rentthe exercise of its sole and absolute discretion; provided, enter upon however, that Landlord shall be under no obligation to relet or attempt to relet the Leased Premises. Tenant hereby waives for itself and take all persons claiming by, through, or under it, any right or redemption or restoration of the operation of this Lease under any present or future law in the event that Tenant shall be dispossessed for any cause, or Landlord shall obtain possession of the Leased Premises and expel pursuant to this Article.
10.6 In the event that Landlord shall retain an attorney to enforce the provisions of this Lease, or remove Tenant and if suit shall be brought for recovery of possession of the Leased Premises, for the recovery of Rent, or any other person who amount due under the provisions of this Lease, or because of the breach of any other covenant or obligation imposed upon Tenant by this Lease, Tenant shall pay to Landlord all expenses incurred thereof, including a reasonable attorney's fee, providing Landlord prevails in such action.
10.7 The rights and remedies of Landlord set forth in this Article shall be in addition to any other right or remedy Landlord may have, now or hereafter. All rights and remedies of Landlord shall be occupying cumulative and not exclusive. Landlord may exercise its rights and remedies at any time, from time to time, in any order, to any extent, and as often as Landlord deems advisable. A single or partial exercise of a right or remedy by Landlord shall not preclude a further exercise thereof, or the exercise of another right or remedy from time to time. No delay or omission by Landlord in exercising any right or remedy shall exhaust or impair the same or constitute a waiver or acquiescence by Landlord of a Default of Tenant. No waiver of a default shall extend to or affect any other default or impair any right or remedy with respect thereto. No action or inaction by Landlord shall constitute a waiver of a default by Tenant. No waiver of a default by Landlord shall be effective unless Landlord provides Tenant with a Notice of the same.
10.8 Tenant shall pay to Landlord for each day Tenant retains possession of the Leased Premises Premises, or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession after the expiration of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions Term of this Lease, by injunctionTwo Hundred (200%) percent of the Rent for the last day immediately preceding the expiration of the Term of this Lease, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, together with any and may be exercised all damages sustained by Landlord in any orderby reason of Tenant's retention and, or simultaneouslyif Landlord provides a Notice of Tenant of Landlord's election thereof, without such exercise being holding over by Tenant shall constitute an extension of this Lease for a waiver by Landlord period from month to month, upon all of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same defaultterms and conditions of this Lease. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available This provision shall not be deemed to be an acceptance waive Landlord's right of re-entry or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement any other right hereunder or by operation of at law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇.
Appears in 1 contract
Default of Tenant. Each of the following If Tenant shall constitute a default by Tenant under this Lease:
(a) Tenant fails fail to pay any amount required under this Lease as and installment of rent on the day when the same becomes shall become due and said failure is not cured within payable hereunder and shall continue in default for a period of ten (10) days after Landlord gives written notice thereof from Landlord; (b) thereof, or if Tenant fails shall fail to keep and perform any of the other termterms, conditioncovenants, or obligation under and conditions of this Lease on its part to be performed and said failure is not cured within shall continue in default for a period of thirty (30) days after written Landlord gives notice thereof from Landlord. Upon the occurrence to Tenant of said default, then in said event, and as often as any such default by Tenantsaid event shall occur, Landlord shall have the option to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Leasemay, at Landlord's option, cure said default at Tenant's sole cost and expense, in which event Tenant any cost incurred by Landlord in curing said default shall become immediately surrender due and payable from Tenant, together with interest thereon at the rate of 12% per annum, or Landlord may terminate this Lease and enter into the Leased Premises to LandlordPremises, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, either with or without being liable for prosecution process of law, and expel Tenant, or any claim of damages therefor; or enter upon person occupying the Leased Premises, and take possession of use such force as may be necessary so to do, and repossess and enjoy the Leased Premises as in Landlord's former estate, but Tenant shall remain fully liable hereunder for all rents and expel or remove other sums to be paid and all covenants to be performed by Tenant and any other person who may be occupying during the remaining balance of the term of this Lease but subject to reduction in accordance with the next sentence. Landlord shall use all reasonable diligence to relet the Leased Premises or Premises, and in said event, Landlord, shall apply the rent received from any part new tenant thereof without being liable for prosecution or on any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in balance due under this Lease, and Tenant shall be responsible for no more than the remaining balance that may then be due hereunder. Notwithstanding anything contained herein in this paragraph to the contrary notwithstandingcontrary, if any default shall occur, other than in the payment of money, which cannot with due diligence be cured within a period of thirty (30) days, and Tenant, prior to the expiration of thirty (30) days from and after the giving of notices as aforesaid, shall commence to eliminate the cause of said default, shall proceed diligently and with reasonable dispatch to take all steps and do all work required to cure said default, and shall thereafter cure said default, then Landlord shall be entitled grant Tenant a reasonable extension of time within which to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same cure said default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇.
Appears in 1 contract
Default of Tenant. Each of the following If Tenant shall constitute a default by Tenant under this Lease:
(a) Tenant fails fail to pay any amount required under this Lease monthly installment of rent when due as aforesaid and when the same becomes due and said such failure is not cured within shall continue for a period of ten (10) days after written notice thereof from to the Tenant by Landlord; (b) Tenant fails , or shall violate or fail to perform any of the other termconditions, conditioncovenants or agreements herein made by Tenant, and such violation or obligation under this Lease and said failure is not cured within shall continue for a period of thirty (30) days after written notice thereof from Landlord. Upon to the occurrence Tenant by Landlord (unless Tenant has commenced and is diligently pursuing completion of any such default by Tenantcure within the 30-day period, Landlord Tenant shall have such time as is reasonably necessary to complete such cure), then and in any of said events this Lease shall, at the option of Landlord, cease and terminate and shall operate as a notice to pursue quit, any one notice to quit or more of Landlord’s intention to re-enter being hereby expressly waived, and Landlord may proceed to recover possession under and by virtue of the following remedies provisions of the laws of the State of Virginia or by such other legal proceedings, as may be applicable. If Landlord elects to terminate this Lease, everything herein contained on the part of Landlord to be done and performed shall cease without any additional notice prejudice, however, to the right of Landlord to recover from Tenant all rental accrued up to the time of termination of recovery of possession by Landlord, whichever is later. Should this Lease be terminated before the expiration of the term of this Lease by reason of Tenant’s default as hereinabove provided, or demand whatsoever: terminate if Tenant shall abandon or vacate the demised Premises before the expiration or termination of the term of this Lease, the demised Premises may be relet by Landlord for such rent and upon such terms as are not unreasonable under the circumstance, and if the full rental hereinabove provided shall not be realized by Landlord, Tenant shall be liable for all damages sustained by Landlord, including, without limitation, deficiency in rent, reasonable attorney’s fees, brokerage fees, and expenses of placing the Premises in rentable condition. Any damage or loss of rental sustained by Landlord may be recovered by Landlord, at Tenant’s option, at the time of the re-letting, or in separate actions, from time to time, as said expiration of the term of this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession cause of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available action shall not be deemed to be an acceptance or surrender have accrued until the date of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation expiration of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇.said Initials TD / Illegible
Appears in 1 contract
Sources: Lease Agreement (Website Pros Inc)
Default of Tenant. Each of the The following events shall constitute be a default by Tenant (a "Default") under this Lease:
(a1) Failure of Tenant fails to pay any amount required under this Lease Rent as and when due, if the same becomes due and said failure is not cured within ten continues for five (105) days after written notice thereof from Landlord; Landlord specifying the failure.
(b2) Failure of Tenant fails to comply with or perform any covenant or obligation of Tenant under this Lease, other termthan those concerning the payment of Rent, conditionif the failure continues for twenty (20) days after notice from Landlord to Tenant specifying the failure; provided, however, that if the failure on the part of Tenant is not capable of being cured within such 20-day period but Tenant expeditiously commences to cure same and diligently proceeds with such cure, Tenant's time to cure such failure shall be extended for the time necessary to cure same, but in no event longer than sixty (60) days, inclusive of the original 20-day period.
(3) [Intentionally omitted.]
(4) If Tenant, any guarantor of ▇▇▇▇▇▇'s performance hereunder (a "Guarantor") or, if Tenant is a partnership, any partner of Tenant ("Partner"), shall file a voluntary petition in bankruptcy or insolvency, shall be adjudicated bankrupt or insolvent or shall file a petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future federal, state or other law, or obligation under this Lease and said failure is not cured shall make an assignment for the benefit of creditors, or shall seek or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or of any Guarantor or Partner or of all or any part of the property of Tenant or of such Guarantor or Partner.
(5) If, within thirty (30) days after written notice thereof from Landlord. Upon the occurrence commencement of any proceeding against Tenant or a Guarantor or Partner, whether by the filing of a petition or otherwise, seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future applicable federal, state or other law, such default by Tenantproceeding shall not have been dismissed or if, Landlord within thirty (30) days after the appointment of any trustee, receiver or liquidator of Tenant or any Guarantor or Partner, or of all or any part of the property of Tenant or of any Guarantor or Partner without the acquiescence of such individual or entity, such appointment shall not have been vacated or otherwise discharged, or if any execution or attachment shall have been issued against the option property of Tenant or of any Guarantor or Partner, pursuant to pursue any one which the Premises shall be taken or more of the following remedies without any additional notice occupied or demand whatsoever: terminate this Lease, in which event Tenant shall immediately surrender the Leased Premises attempted to Landlord, and if be taken or occupied.
(6) If Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel on the Lease Commencement Date or remove Tenant and any other person who may be occupying vacates, abandons or ceases to carry on its ordinary activities in the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of prior to the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages thereforLease Expiration Date, with or without having terminated an intention of paying Rent; provided, however, that if (i) Tenant gives Landlord at least thirty (30) days prior written notice that it intends to vacate the Premises, (ii) Tenant pays the full amount of all Rent when due under this Lease. In addition to Lease while the Premises are vacant, (iii) the fact that the Premises are vacant does not adversely affect the Building or other remedies provided tenants of the Park and does not result in this Leaseany liability to, or expenditure of funds by, Landlord, and anything contained herein (iv) Tenant leaves the Premises in a condition satisfactory to Landlord and continues to maintain the contrary notwithstanding, Premises in a condition satisfactory to Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any throughout the remainder of the termsTerm, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulativethen, and may be exercised by Landlord in any ordersuch event only, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available Tenant shall not be deemed to be an acceptance or surrender in Default under this Section 19.A.(6) and Landlord shall have the right, exercisable by sending written notice to Tenant, to sublet from Tenant for the balance of the Leased Term of this Lease all or any portion of the Premises by ▇▇▇▇▇▇at Tenant's then rental rate hereunder, whether by agreement or by operation to terminate this Lease as to all or any portion of lawthe Premises, it being understood that such surrender can be affected only by the written agreement which rights of Landlord as to subletting and ▇▇▇▇▇▇termination shall be exercisable by Landlord in its sole discretion.
Appears in 1 contract
Sources: Deed of Lease (Equinix Inc)
Default of Tenant. Each of the following shall constitute a default by Tenant under this Lease:
A. If (a) Tenant fails shall fail to pay any amount installment of Monthly Base Rent or fail to timely make any other payment required under this Lease as by the terms and when the same becomes due provisions hereof and said such failure is not cured within ten to pay shall continue for more than seven (107) business days after written notice thereof from to Tenant by Landlord; or (b) Tenant fails shall violate or fail to perform any of the other termterms, conditionconditions, provisions, covenants or obligation under this Lease agreements herein made by Tenant, and said if such violation or failure is not cured within shall continue for a period of thirty (30) days after written notice thereof from to Tenant by Landlord. Upon , provided, however, that if the occurrence nature of such violation or failure is not reasonably capable of being cured within such thirty (30) day period, then the period in which Tenant may cure such failure shall be extended to a total of up to one hundred twenty (120) days, provided Tenant promptly commences the cure of such violation or failure within the initial thirty (30) day period and thereafter continually and diligently pursues the cure of such violation or failure; or (c) an Event of Bankruptcy (as specified in Section 20.D below) shall occur; or (d) Tenant’s dissolution or liquidation shall occur; or (e) any subletting, assignment, transfer, mortgage or other encumbrance of the Demised Premises or this Lease not permitted by Section 34, then and in any of said events (each such default by Tenantevent, following expiration of the applicable notice and cure period is referred to as an “Event of Default”), Landlord shall have the option right, at its election, then or at any time thereafter while such Event of Default shall continue, either:
(1) To give Tenant written notice of its intent to pursue terminate this Lease on the date of such notice or on any one or more later date specified therein, and on the date specified in such notice Tenant’s right to possession of the following remedies Demised Premises shall cease and this Lease shall thereupon be terminated; or
(2) Subject to all applicable laws, with or without any additional notice or demand whatsoever: terminate terminating this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon reenter and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises Demised Premises, or any part thereof, and repossess the same as of Landlord’s former estate and expel Tenant and those claiming through or under Tenant and remove the effects of both or either, by summary proceedings, or by action at law or in equity or by force (if necessary) or otherwise, without being liable deemed guilty of any manner of trespass and without prejudice to any remedies for prosecution arrears of rental or any claim breach of damages therefor; covenant. If this Lease is terminated or enter upon and take Landlord recovers possession of the Leased Premises and expel or remove before the expiration of the Term by reason of Event of Default by Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, in accordance with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstandingSection 20, Landlord shall be entitled take all reasonable steps to restrain any default or violationrelet the Premises for such rent and upon such terms as are not unreasonable under the circumstances.
B. If Landlord terminates this Lease pursuant to this Section 20, Tenant shall remain liable (in addition to accrued liabilities) for (i) the rental and all other sums provided for in this Lease which would have been due and payable to Landlord had such termination not occurred, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised all reasonable costs and expenses incurred by Landlord in reentering the Demised Premises, repossessing the same, making good any orderEvent of Default of Tenant, reletting the same (including any and all reasonable attorney’s fees and disbursements and brokerage fees incurred in so doing), and any and all reasonable costs and expenses which Landlord may incur during the occupancy of any new tenant or simultaneously, without such exercise being a waiver by Landlord subtenant; less (ii) the net proceeds of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect reletting prior to the same defaultdate when this Lease would have expired if it had not been terminated. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇.Tenant
Appears in 1 contract
Default of Tenant. Each 14.1 If Tenant shall be late in the payment of any installment of Fixed Rent or any regular monthly installment of Supplemental Rent and if such breach shall continue for seven (7) days, Tenant shall be conclusively deemed to be in material breach of this Lease. Notwithstanding the foregoing, before Landlord through legal action re-enters and resumes possession of the following Demised Premises as a result of such non-payment, Landlord agrees that with respect to the first three (3) occasions of such default in any twelve month period Landlord shall constitute a serve Tenant with written notice of the default and allow Tenant one (1) business day from the date of service of the notice to cure the default by payment by wire transfer or bank check of the full amount due with any late fee which may have accrued as a result of such default.
14.2 If Tenant under shall be late in the payment of any payment of Supplemental Rent (other than regular monthly installment payments covered by Section 14.1) or any Additional Rent, or shall fail to post any portion of the Security Deposit or otherwise breach Article 25 of this Lease:, and if such breach shall continue for fifteen (15) days after Landlord shall have served Tenant with an invoice or written notice of the amount due, Tenant shall be conclusively deemed to be in material breach of this Lease. Notwithstanding the foregoing, before Landlord through legal action re-enters and resumes possession of the Demised Premises as a result of such non-payment, Landlord agrees that with respect to the first three (3) such defaults in any twelve month period Landlord shall serve Tenant with written notice of the default and allow Tenant one (1) business day from the date of service of the notice to cure the default by payment by wire transfer or bank check of the full amount due with any late fee which may have accrued as a result of such default.
14.3 If, during the term of this Lease, (a) Tenant fails to pay any amount required under this Lease as and when shall make an assignment for the same becomes due and said failure is not cured within ten (10) days after written notice thereof from Landlord; benefit of creditors, or (b) a voluntary petition be filed by Tenant fails under any law having for its purpose the adjudication of Tenant a bankrupt, or the extension of time for payment, composition, adjustment, modification, settlement or satisfaction of the liabilities of Tenant or the reorganization or liquidation of Tenant, or (c) a receiver be appointed for the property of Tenant by reason of the insolvency or alleged insolvency of Tenant, or if (d) any department of the state or federal government or any officer thereof or duly authorized Trustee or Receiver shall take possession of the business or property of the Tenant or if (e) an involuntary petition be filed against Tenant under any law having for its purpose the adjudication of Tenant as a bankrupt, or for the liquidation of Tenant; and (except with respect to perform items (a) and (b), supra, which shall be non-curable events of default) if same have not been removed, cured or discharged within sixty (60) days; or if (f) any Receiver or Trustee pursuant to any bankruptcy or insolvency law, whether Federal or State, shall attempt to thereafter assign this Lease to any party or attempt to sublet all or any part of the Demised Premises, then Tenant shall be conclusively deemed to be in material breach of this Lease.
14.4 If (a) Tenant shall default in the performance or observation of any other termagreement or condition (other than payment of Rent or Additional Rent) on its part to be performed or observed, condition, or obligation under this Lease and if Tenant shall fail to cure said failure is not cured default within thirty (30) days after written notice thereof from of said default by Landlord (or, in the case of a default not susceptible of a cure within thirty (30) days, if Tenant shall fail to commence a cure within thirty (30) days and diligently complete such cure within a reasonable time); or (b) if Tenant shall make default with respect to any other Lease between it and Landlord. Upon ; or (c) in the occurrence event Tenant is more than seven (7) days late in respect to any three (3) months' Rent due hereunder, which three (3) months fall within a consecutive 6-month period, then, in any of said cases, (notwithstanding any waiver of any such default former breach of agreement or condition or waiver of the benefit hereof or consent in a former instance), Tenant shall be conclusively deemed to have materially breached this Lease.
14.5 In the event of any material breach by Tenant, Landlord shall have the option may (a) permit Tenant to pursue any one remain in possession and s▇▇ for all Rents, damages, attorneys’ fees and collection costs as due; or more of the following remedies without any additional notice or demand whatsoever: (b) terminate this LeaseLease by written declaration, but allow Tenant to remain in which event possession as Tenant shall immediately surrender the Leased Premises to Landlordat Will and s▇▇ Tenant for all Rents, damages, attorneys’ fees and if Tenant fails to do so Landlord may, without prejudice to any other remedy which collection costs as due; or (c) Landlord may have for omission immediately, or arrearages in Rentat any time thereafter, through legal process, re-enter upon and take resume possession of the Leased Demised Premises and expel remove all persons and property therefrom either by summary dispossess proceedings or remove by a suitable action or proceeding at law or in equity, or in the case of permanent abandonment of the Demised Premises by the Tenant and any other person who may be occupying the Leased Premises or any part thereofby peaceful self-help, without being liable for prosecution or any claim damages therefor (no re-entry by the Landlord shall be deemed an acceptance of damages therefora surrender of this Lease unless accompanied by a written declaration signed by Landlord to that effect); or enter (d) upon re-taking possession, keep the Demised Premises vacant (subject to reasonable efforts at mitigation of Landlord’s damages) and take recover from Tenant all Rents, damages, attorneys’ fees and collection costs as hereinafter provided; or (e) upon re-taking possession of Landlord may, as Tenant’s agent and without effecting Tenant’s liability hereunder, relet the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises whole or any part thereof without being liable of the Demised Premises for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violationa period equal to, or attempted greater, or threatened default or violation of any less than the remainder of the terms, covenants, conditions or other provisions then term of this Lease, at such rental and upon such terms and concessions as Landlord shall deem reasonable, to any lessee or lessees which it may deem suitable and satisfactory for any use and purpose which it may deem appropriate. In no event shall the Landlord be liable in any respect for failure to relet the Demised Premises or in the event of such reletting, for failure to collect the rent thereunder. Any sums received by injunctionthe Landlord on a reletting for any monthly installment of rent in excess of the Rent reserved in this Lease shall belong to Landlord. Without liability to Tenant or any other party and without constituting a constructive or actual eviction, order of specific performance Landlord may suspend or other appropriate equitable relief. The remedies provided discontinue furnishing or rendering to Landlord hereunder are intended to be cumulative, and may be exercised Tenant any work then being performed by Landlord for Tenant, wherever Landlord is obligated to furnish or render the same, so long as Tenant is in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or material default under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇this Lease.
Appears in 1 contract
Default of Tenant. Each of the following If Tenant shall constitute a default by Tenant under this Lease:
(a) Tenant fails fail to pay any amount required under this Lease monthly installment of rent as aforesaid (although no legal or formal demand has been made therefor), or shall violate or fail to perform any of the other conditions, covenants or agreements herein made by Tenant, and when the same becomes due and said such failure is not cured within ten to pay rent or such violation or failure shall continue for a period often (10) days after written notice thereof from to Tenant by Landlord; (b) Tenant fails , then and in any of said events this Lease shall, at the option of Landlord, cease and terminate and shall operate as a notice to perform quit, any other term, conditionnotice to quit, or obligation of Landlord’s intention to re-enter, being hereby expressly waived, and Landlord may proceed to recover possession under and by virtue of the provisions of the laws of the State of Maryland, or by such other proceedings, including re-entry and possession, as may be applicable. If Landlord elects to terminate this Lease, everything herein contained on the part of Landlord to be done and performed shall cease without prejudice, however, to the right of Landlord to recover from Tenant all rental accrued up to the time of termination or recovery of possession by Landlord, whichever is later. Should this Lease by reason of Tenant’s default as hereinabove provided, or if Tenant shall abandon or vacate the Demised Premises before the expiration or termination of the Term of this Lease, the Demised premises may be relet by Landlord for such rent and upon such terms as are not unreasonable under the circumstances and, if the full rental hereinabove provided shall not be realized by Landlord, Tenant shall be liable for all damages sustained by Landlord, including, without limitation deficiency in rent, reasonable attorneys’ fees, brokerage fees, and expenses of placing the Demised Premises in first class rentable condition. Any damage or loss of rental sustained by in separate actions, from time to time, as said failure is not cured within thirty (30) days after written notice thereof from Landlord. Upon the occurrence of any such default by Tenant, Landlord damage shall have been made more easily ascertainable by successive relettings, or, at Landlord’s option, may be deferred until the option to pursue any one or more expiration of the following remedies without any additional notice or demand whatsoever: terminate term of this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession cause of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available action shall not be deemed to have accrued until the date of expiration of said term. If Landlord should commence any summary proceeding for non-payment of rent by Tenant, Tenant shall not interpose any counterclaim of any nature or description in any such proceeding. The provisions contained in this paragraph shall be an acceptance or surrender in addition to and shall not prevent the enforcement of any claim Landlord may have against Tenant for anticipatory breach of the Leased unexpired term of this Lease. In the event that Tenant continues to occupy the Demised Premises by ▇▇▇▇▇▇after the expiration of the term of this Lease, whether by agreement with the express or by operation implied consent of lawLandlord, it being understood that such surrender can tenancy shall be affected only by from month-to-month and shall not be renewal of the written agreement term of this Lease or tenancy from year-to year. All rights and remedies of Landlord under this Lease shall be cumulative and ▇▇▇▇▇▇shall not be exclusive of any other rights and remedies provided to Landlord under applicable law.
Appears in 1 contract
Sources: Lease Agreement (Tvi Corp)
Default of Tenant. Each of the following shall constitute a default by Tenant under this Lease:
(a) It shall constitute an Event of Default if Tenant fails shall fail to perform or comply with its obligations to pay any amount required Rent under this Lease as and when the same becomes due and said such failure is not cured within shall continue for a period of ten (10) days after Tenant’s receipt of written notice thereof from Landlord; (b) Landlord for failure to pay Rent. It shall also constitute an Event of Default it Tenant fails shall fail to perform or comply with any other term, condition, term or obligation under this Lease and said such failure is not cured within shall continue for a period of thirty (30) days after Tenant’s receipt of written notice thereof from LandlordLandlord specifying such failure and requiring it to be remedied; provided, however, that if any such failure, other than the failure to pay Rent, cannot with due diligence be remedied by Tenant within a period of thirty (30) days, it Tenant commences to remedy such failure within such thirty (30) day period and thereafter prosecutes such remedy with reasonable diligence, the period of time for remedy of such failure shall be extended so long as Tenant prosecutes such remedy with reasonable diligence for a period not to exceed an additional sixty (60) days. Upon Following the occurrence of any such default Event of Default, Landlord may terminate this Lease and have immediate possession of the Premises, in addition to any other remedies allowed by Tenantlaw.
(b) To the extent permitted by law and only to the extent permitted by law, upon an occurrence of an Event of Default, Landlord shall have the option right at its election then or at any time thereafter and while any such Event of Default shall continue either:
(i) to pursue give Tenant written notice of Landlord’s intention to terminate the Lease on the date of such given notice or on any one or more later date specified therein, whereupon on the date specified in such notice, Tenant’s right to possession of the following remedies without any additional Premises shall cease and this Lease shall thereupon be terminated, except as to Tenant’s liability, as if the expiration of the term fixed in such notice or demand whatsoever: terminate this Lease, in which event Tenant shall immediately surrender were the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, end of the term herein originally demised; or
(ii) To re-enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution and repossess the same as Landlord’s former estate and expel Tenant and those claiming through or any claim for damages therefor, with under Tenant and remove the effects of both or without having terminated this Leaseeither. In addition Should Landlord elect to the other remedies re-enter as provided in this Section or should Landlord take possession pursuant to legal proceedings or pursuant to any notice provided for by law, Landlord may, from time to time, without terminating this Lease, relet the Premises or any part thereof in Landlord’s or in Tenant’s name, but for the account of Tenant, for such term or teams and anything contained herein all such conditions as Landlord in its sole discretion, may determine and Landlord may collect and receive the rents therefore. Landlord shall in no way be responsible or liable for any failure to relet the contrary notwithstanding, Premises of for any failure to collect any rent due upon such reletting. No such re-entry or taking possession of the Premises by Landlord shall be entitled construed as an election on Landlord’s part to restrain terminate the Lease unless a written notice of such intention is given to the Tenant. No notice from Landlord hereunder or under a forcible entry and detainer statute or similar law shall constitute an election by Landlord to terminate this Lease unless such notice specifically so states. Landlord reserves the right following any default or violationsuch re-entry and/or reletting to exercise its right to terminate this Lease by giving Tenant such written notice in which event this Lease will terminate as specified in said notice.
(iii) In the event Landlord does not elect to terminate the Lease as permitted herein but on the contrary elects to take possession, or attempted or threatened default or violation Tenant shall pay to the Landlord:
(A) the Rent and other sums due and payable hereunder as if such repossession had not occurred, less
(B) the net proceeds, if any, of any reletting of the termsPremises after deducting all of Landlord’s expenses in connection with such reletting, covenants, conditions including legal fees and brokerage commission,
(C) Suit or suits for the recovery of the amounts and damages set forth above may be brought by Landlord from time to time at Landlord’s election and nothing herein shall be deemed to require Landlord to await the date whereon this Lease or the term herein would have expired by limitation had there been no such default by Tenant or no such termination as the case may be. Each right and remedy as provided for in this Lease shall be cumulative and shall be an addition to every other right or remedy provided for in the Lease or not or hereafter existing at law or in equity or by statute or otherwise. All costs incurred by Landlord in connection with collecting any amounts and damages owing by Tenant pursuant to the provisions of this Lease or to enforce any provision of this Lease, by injunctionincluding reasonable attorneys fees from the date any such matter is turned over to an attorney, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to shall also be cumulative, and may be exercised recoverable by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇from Tenant.
Appears in 1 contract
Sources: Lease Agreement (Tvi Corp)
Default of Tenant. Each (a) The occurrence of any of the following shall ----------------- constitute a an event of default by Tenant (each, an "Event of Default") under this Lease:
(ai) Failure of Tenant fails to pay any amount required under this Lease as and Rent when the same becomes due and said failure is not cured within ten hereunder after seven (107) days after written notice thereof from Landlord; (b) Tenant fails Tenant's failure to perform any other termcovenant, condition, condition or obligation under this Lease and said failure is not cured (other than those set forth in (i) above) within thirty (30) days after written notice thereof from and demand by Landlord, unless the failure is of such a character as to require more than thirty (30) days to cure, in which event it shall be an Event of Default upon Tenant's failure to commence and proceed diligently to cure such default. Appointment of a receiver or trustee of the assets of Tenant.
(b) Upon the occurrence of an Event of Default:
(i) Landlord may terminate this Lease and/or any services provided to Tenant under this Lease, by giving notice of such default termination to Tenant, whereupon this Lease shall automatically cease and terminate, and Tenant shall be obligated to immediately quit the Premises. Any other notice to quit or notice of Landlord's intention to re-enter the Premises is hereby expressly waived. If Landlord elects to terminate this Lease, everything contained in this Lease on the part of Landlord to be done and performed shall cease, without prejudice, however, to the right of Landlord to recover from Tenant all Rent accrued up to the time of termination or recovery of possession by TenantLandlord, whichever is later, and any other monetary damages or loss of Rent sustained by Landlord.
(ii) Whether or not this Lease is terminated pursuant to (i) above, Landlord may proceed to recover possession of the Premises under and by virtue of the provisions of the laws of the State of Virginia, or by such other proceedings, including re-entry and possession, as may be lawful.
(iii) Should this Lease be terminated pursuant to(i) above, Landlord shall have the option to pursue relet the Premises for such rent and upon such terms as are not unreasonable under the circumstances and, if the full Rent reserved under this Lease (and any one or more of the following remedies without any additional notice costs, expenses, or demand whatsoever: terminate this Leasedamages indicated below) shall not be realized by Landlord, in which event Tenant shall immediately surrender the Leased Premises be liable to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages deficiency in Rent, enter upon and take possession reasonable attorneys' fees, reasonable brokerage fees (attributable to the end of the Leased Term), and the reasonable expenses of placing the Premises and expel or remove in the condition Tenant and any other person who may be occupying is required to return the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession same at the end of the Leased Premises and expel or remove Term.
(iv) Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages thereforshall pay to Landlord as damages, with or without having terminated this Lease. In addition in monthly installments, an amount equal to the other remedies provided Rent for the balance of the Lease Term (not including any unexercised renewal options) had this Lease not been terminated, less the net proceeds, if any, of any reletting of the Premises by Landlord subsequent to such termination, after deduction of Landlord's reasonable legal expenses and court costs in this Lease, and anything contained herein to the contrary notwithstanding, connection with such recovery of possession. Landlord shall be entitled to restrain collect and receive such damages from Tenant on the days on which the Rent would have been payable if this Lease had not been terminated.
(c) If, under the provisions hereof, Landlord shall institute proceedings against Tenant and a compromise or settlement thereof shall be made, the same shall not constitute a waiver of any default other covenant, condition, agreement or violationobligation contained in this Lease, or attempted or threatened default or violation nor of any of Landlord's rights under this Lease.
(d) If Tenant commits an Event of Default in the termsmaking of any payment or in the doing of any act under this Lease required to be made or done by Tenant, covenantsthen Landlord may, conditions but shall not be required to, make such payment or other do such act, and charge the amount of the expense thereof, if made or done by Landlord, with interest thereon at the Lease Interest Rate. Such payment and interest shall constitute Additional Rent hereunder due and payable within thirty (30) days of Landlord's demand therefor, but the making of such payment or the taking of such action by Landlord shall not operate to cure such default or to estop Landlord from the pursuit of any remedy to which Landlord would otherwise be entitled at law, in equity or under this Lease.
(e) Notwithstanding any of the terms and provisions herein contained to the contrary, Landlord and Tenant shall each have the duty and obligation to use reasonable efforts to mitigate any and all damages that may or shall be caused or suffered by virtue of the other's defaults under, or violation of, any of the terms and provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The burden of proof as to the reasonableness of a party's efforts shall be borne by the defaulting party in any litigation between the parties. In the event of an Event of Default by Tenant, if Landlord puts a for lease sign on the Premises and lists the Premises with a broker to lease, Landlord shall be deemed to have satisfied the provisions of this subsection.
(f) All rights and remedies of the parties under this Lease shall be cumulative and shall not be exclusive of any other rights and remedies provided to each under this Lease, which rights and remedies include specific performance, a suit for actual damages incurred and injunctive relief, except that Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its shall have no right to exercise any other remedy granted to Landlord hereunder accelerate rent for more than six (or under applicable Laws6) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇months at a time.
Appears in 1 contract
Sources: Lease (Silver Diner Inc /De/)
Default of Tenant. Each 11.01 In the event of the following shall constitute a default by any failure of Tenant under this Lease:
(a) Tenant fails to pay any amount required under this Lease as and when the same becomes all rental due and said failure is not cured hereunder within ten (10) days after written notice thereof from Landlord; (b) Tenant fails the same shall become due or any failure to perform any other termterms, condition, conditions or obligation under covenants of this Lease and said failure is not cured within thirty to be observed or performed by Tenant for more than twenty (3020) days after the written notice thereof from delivered to Tenant of Tenant’s default, then in any one of said event, Landlord. , besides other rights or remedies that Landlord may have, shall have the right to declare this Lease terminated and shall have the immediate right of reentry and may remove all persons and property form the Leased Premises and such property may be removed and stored in a public warehouse or elsewhere at the costs and for the account of Tenant, without evidence of notice or resort to legal process and without being deemed guilty of trespass or becoming liable for any loss or damages which may be occasioned thereby.
11.02 Upon the occurrence a declaration of any such default by Tenanta default, as set forth above, Landlord shall have the option right to pursue any one or more accelerate the rental payments due hereunder so that all unpaid rents shall become immediately due and payable.
11.03 Tenant hereby pledges and assigns to Landlord a security interest in all furniture, fixtures, inventory and other personal property to secure the performance of the following remedies without any additional notice or demand whatsoever: terminate this Lease, Tenant’s obligations hereunder.
11.04 The rights set forth above are collective in which event Tenant shall immediately surrender the Leased Premises to Landlord, nature and if Tenant fails to do so Landlord may, without prejudice to are not mutually exclusive of any other remedy contained herein or at law.
11.05 Tenant shall pay all reasonable attorney’s fees and court costs incurred by Landlord in enforcing and provisions of this Lease or in any litigation in which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereofshall, without being liable for prosecution or any claim its fault, become involved on account of damages therefor; or enter upon this Lease and take possession of the Leased Premises and expel or remove Tenant and any other person who may in which Landlord shall be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Leasesuccessful. In addition to the other remedies provided in event of default of any term, condition or covenant of this LeaseLease by Landlord, and anything contained herein to the contrary notwithstanding, Landlord Tenant shall be entitled to restrain seek any remedies available at law or in equity, including, but not necessarily limited to, specific performance, damages, and Tenant, at its sole election, may upon such default or violationby Landlord, or attempted or threatened default or violation of cancel the within Lease, Landlord shall pay all reasonable attorney’s fees and court costs incurred by Tenant in enforcing any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance Lease or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneouslylitigation in which Tenant shall, without such exercise being a waiver by Landlord its fault, become involved on account of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available this Lease and in which Tenant shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇successful.
Appears in 1 contract
Default of Tenant. Each of the following shall constitute a default by Tenant under this Lease:
(a) (I) If Tenant fails shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any amount required other charges or amounts under this Lease as when due or shall default in complying with its obligations under Subsection 6.1.11 of this Lease and when the same becomes due and said failure is not cured within ten if any such default shall continue for five (105) days after written notice thereof from Landlord; (b) Tenant fails to perform any other term, conditionLandlord designating such default, or obligation under this Lease and said failure is not cured (II) if as promptly as possible but in any event within thirty (30) days after written notice thereof from Landlord. Upon Landlord to Tenant specifying any default or defaults other than those set forth in clause (I) Tenant has not cured the occurrence default or defaults so specified, provided that if Tenant is proceeding in good faith and with due diligence to complete the cure of any such non-monetary performance breach which is curable but cannot reasonably be cured within thirty (30) days, Tenant will not be held in default for not completing such cure within thirty (30) days so long as Tenant is diligently and continuously proceeding to complete such cure; or (b) if any assignment shall be made by Tenant for the benefit of creditors; or (c) if Tenant’s leasehold interest shall be taken on execution; or (d) if a lien or other involuntary encumbrance shall be filed against Tenant’s leasehold interest or Tenant’s other property and shall not be discharged within thirty (30) days thereafter; or (e) if a petition shall be filed by Tenant for liquidation, Landlord shall have the option to pursue or for reorganization or an arrangement under any one provision of any bankruptcy law or more code as then in force and effect; or (f) if an involuntary petition under any of the following remedies without provisions of any additional notice bankruptcy law or demand whatsoever: terminate this Leasecode shall be filed against Tenant and such involuntary petition shall not be stayed, dismissed or vacated within sixty (60) days thereafter; or (g) if a custodian or similar agent shall be authorized or appointed to take charge of all or substantially all of the assets of Tenant; or (h) if Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation; or (i) if any order shall be entered in which event any proceeding by or against Tenant decreeing or permitting the dissolution of Tenant or the winding up of its affairs; or (j) if Tenant shall immediately surrender fail to pay any installment of Annual Fixed Rent or Additional Rent when due, Tenant shall cure such default within the Leased Premises grace period provided in clause (a) (I) above (or with Landlord’s approval after the expiration of such grace period) and Tenant shall, within the next year following the date such initial defaulted payment was first due, fail more than twice to Landlordpay any installment of Annual Fixed Rent or Additional Rent when due, then, and if Tenant fails to do so in any of such cases indicated in clauses (a) through (j) hereof (collectively and individually, a “Default of Tenant”), Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter (x) give notice to Tenant terminating this Lease and/or the term hereof, which notice shall specify the date of such termination, whereupon on the date so specified, the term of this Lease and all of Tenant’s rights and privileges under this Lease shall expire and terminate or (y) without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon terminating this Lease terminate Tenant’s right of possession and/or occupancy and reenter and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises notice and expel or remove Tenant and any other person who may be occupying the Leased Premises or party claiming under Tenant and remove any part thereof of their effects, without being liable for prosecution on account thereof, whether in trespass or any claim for damages thereforbreach or covenant or otherwise, with (and no such reentry or without having terminated taking possession shall be construed as an election by Landlord to terminate this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Lease unless Landlord shall be entitled affirm such election by notice expressly to restrain any default or violationsuch effect), or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord but in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available either case Tenant shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇remain liable as hereinafter provided.
Appears in 1 contract
Sources: Lease (Curis Inc)
Default of Tenant. Each A. If there should occur any default on the part of the following shall constitute a default by Tenant under this Lease:
(a) Tenant fails to pay any amount required under this Lease as and when in the same becomes due and said failure is not cured within ten (10) days after written notice thereof from Landlord; (b) Tenant fails to perform punctual payment of any other term, conditionBase Rent or Additional Rent when due or in the performance of any conditions and covenants herein contained, or obligation under this Lease and said failure is not cured within thirty (30) days after written notice thereof from Landlord. Upon if during the occurrence of any such default by Tenant, Landlord shall have term hereof the option to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Demised Premises or any part thereofthereof shall be or become abandoned or deserted, vacated or vacant, or should the Tenant be evicted by summary proceedings or otherwise, the Landlord, in addition to any other remedies herein contained or as may be permitted by law, may either by force or otherwise, without being liable for prosecution therefor, or for damages, re-enter the Demised Premises and the same have again possess and enjoy; and as agent for the Tenant or otherwise, re-let the Demised Premises and receive the rents therefor and apply the same, first to the payment of such expenses, reasonable attorney fees and costs, as the Landlord may have been put to in re-entering and repossessing the same and in making such repairs and alterations as may be necessary; and second to the payment of the rents due hereunder. The Tenant shall remain liable for such rents as may be in arrears and also the rents as may accrue subsequent to the re-entry by the Landlord, to the extent of the difference between the rents reserved hereunder and the rents, if any, received by the Landlord during the remainder of the unexpired term hereof, after deducting the aforementioned expenses, fees and costs; the same to be paid as such deficiencies arise and are ascertained each month. Tenant expressly waivers any claim and all rights of damages therefor; redemption granted by or enter upon and take under any present or future law in the event it is evicted or dispossessed for any cause or if Landlord obtains possession of the Leased Demised Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises by reason of violation or any part thereof without being liable for prosecution or any claim for damages thereforterms, with or without having terminated this covenants and conditions of the Lease. In addition to .
B. Upon the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation occurrence of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord contingencies set forth in any orderthe proceeding clause, or simultaneouslyshould the Tenant be adjudicated bankrupt, without such exercise being a waiver insolvent or placed in receivership, or should proceedings be instituted by Landlord or against the Tenant for bankruptcy, insolvency, receivership, agreement of its right composition or assignment for the benefit of creditors, or should Tenant be dissolved or liquidated or possession of the property of Tenant be taken by any governmental officer or agency pursuant to exercise any other remedy granted statutory authority for dissolution rehabilitation, reorganization or liquidation, or if this Lease or the estate of the Tenant hereunder shall pass to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise another by Landlord virtue of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender court proceedings, writ of the Leased Premises by ▇▇▇▇▇▇execution, whether by agreement levy, sale, or by operation of law, it being understood that the Landlord may, in addition to any other remedies Landlord may have, if the Landlord so elects, at any time thereafter, terminate this Lease and the term hereof, upon giving to the Tenant or to any trustee, receiver, assignee or other person in charge of or acting as custodian of the assets or property of the Tenant, five days notice in writing, of the Landlord's intention so to do. Upon the giving of such surrender can be affected only notice, this Lease and the term hereof shall end on the date fixed in such notice as if the said date was the date originally fixed in this Lease for the expiration hereof; and the Landlord shall have the right to remove all persons, goods, fixtures and chattels therefrom, by force or otherwise, without liability for damages.
C. The parties hereby shall and they hereby do waive trial by jury in any action or proceeding brought by either of the written agreement parties hereto against the other on any matters whatsoever arising out of or in any way connected with this Lease, the relationship of Landlord and ▇▇▇▇▇▇Tenant, Tenant's use or occupancy of the Demised Premises any claim of injury or damage. In the event Landlord commences any proceedings for non-payment of Base Rent and/or Additional Rent, Tenant waives its right to file a counterclaim or remove such action to the Superior Court from Special Civil Part. This shall not, however, be construed as a waiver of Tenant's rights to assert such claims in any special action or actions.
D. If the Tenant shall fail or refuse to comply with and perform any conditions and covenants of the within Lease, the Landlord may (but shall not be obligated to) if the Landlord so elects, carry out and perform such conditions and covenants, at the cost and expense of the Tenant, and the said cost and expense shall be payable on demand, or at the option of the Landlord shall be added to the installment of rent due immediately thereafter but in no case later than one month after such demand, whichever occurs sooner, and shall be due and payable as such. This remedy shall be in addition to such other remedies as the Landlord may have hereunder by reason for the breach by the Tenant of any of the covenants and conditions in this Lease contained. Landlords delay or failure to insist upon strict performance of any of the covenants and conditions of this Lease or to exercise any other available right or remedy shall not impair any such right or remedy, nor shall it be construed to be a forbearance or waiver.
Appears in 1 contract
Default of Tenant. Each In the event of the following shall constitute a default by any failure of Tenant under this Lease:
(a) Tenant fails to pay any amount required under rental or other charges due hereunder on the day the same shall be due, or any failure to perform any other of the terms, conditions, or covenants of this Lease as and when the same becomes due and said failure is not cured within to be observed or performed by Tenant for more than ten (10) days after written notice thereof from Landlord; (b) Tenant fails of such default shall have been mailed to perform any other term, conditionTenant, or obligation under if Tenant shall abandon said premises or permit this Lease and said failure is not cured within thirty (30) days after written notice thereof from to be taken under any writ of execution, then the Landlord. Upon the occurrence of any such default by Tenant, Landlord besides other rights or remedies it may have, shall have the option right to pursue any one declare this Lease terminated and the term ended and/or shall have the immediate right of re-entry and may remove all persons and property from the leased premises, and such property may be removed and stored in a public warehouse or more elsewhere at the cost of and for the following remedies account of Tenant, without any additional evidence of notice or demand whatsoever: resort to legal process and without being deemed guilty of trespass or becoming liable for any loss or damage which may be occasioned thereby. Should Landlord elect to re-enter, as herein provided, or should it take possession pursuant to legal proceedings or pursuant to any notice provided for by law, it may either terminate this Lease or it may from time to time, without terminating this Lease, make such alterations and repairs as may be necessary in which event Tenant shall immediately surrender order to relet the Leased Premises to Landlordpremises, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises relet said premises or any part thereof without being liable for prosecution such term or terms (which may be for a term extending beyond the term of this Lease) and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable. Upon each such reletting, all rentals and other sums received by Landlord from such reletting shall be applied: first, to the payment of any claim for damages thereforindebtedness other than rent due hereunder from Tenant to Landlord; second, with to the payment of any costs and expenses of such reletting, including reasonable brokerage fees and attorneys' fees and of costs of such alterations and repairs and costs of moving other tenants in the Premises in order to relet the leased premises, such as repairs and alterations to other portions of the Premises or without having terminated reduced rental to other tenants; third, to the payment of rent and other charges due and unpaid hereunder, and the residue, if any, shall be held by Landlord and applied in payment of future rent as the same may become due and payable hereunder. If such rentals and other sums received from such reletting during any month be less than that to be paid during that month by Tenant hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall in no event be entitled to any rent collected as payable under any reletting, whether or not such rent shall exceed the rent reserved in this Lease. In No such re-entry or taking possession of said premises by Landlord shall be construed as an election on its part to terminate this Lease unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding any such reletting without termination, Landlord may at any time hereafter elect to terminate this Lease for such previous breach. Should Landlord at any time terminate this Lease for any breach, in addition to the any other remedies provided it may have, it may recover from Tenant all damages it may incur by reason of such breach, including the cost of recovering the leased premises, reasonable attorneys' fees, and including the worth at the time of such termination of the excess, if any, of the amount of rent and charges equivalent to rent reserved in this LeaseLease for the remainder of the stated term over the then reasonable rental value of the leased premises for the remainder of the stated term, all of which amounts shall be immediately due and anything contained herein payable from Tenant to Landlord. Abandonment of the contrary notwithstandingleasehold shall not terminate tenant's obligations hereunder. In the event tenant seeks relief pursuant to 11 USC of the United States Bankruptcy Code, the parties hereto agree that any relief approved by the court thereunder after Motion of the Debtor will only be effective as of the date of the Hearing on such Motion, or such later date as the court may designate. Landlord shall be entitled to restrain immediate administrative payment of all amounts due under the lease from the date of filing any default or violationPetition in Bankruptcy, or attempted or threatened default or violation until said relief may be granted by the court. In case suit shall be brought for recovery of any possession of the termsleased premises, covenants, conditions for the recovery of rent or any other amount due under the provisions of this Lease, by injunctionor because of the breach of any other covenant herein contained on the part of Tenant to be kept performed, order of specific performance or other appropriate equitable relief. The remedies provided and a breach shall be established, Tenant shall pay to Landlord hereunder are intended to be cumulativeall expenses incurred therefor, and may be exercised including reasonable attorneys' fees. If any amount due from Tenant is not received by Landlord in within five (5) days of when due, Tenant shall pay to the Landlord an additional sum equal to five (5%) percent of such overdue amount as a late charge. Payment of any order, such late charge shall not excuse or simultaneously, without such exercise being a waiver by cure any default or prevent Landlord from exercising any of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord rights and ▇▇▇▇▇▇remedies.
Appears in 1 contract
Default of Tenant. Each of the following If Tenant shall constitute a default by Tenant under this Lease:
(a) Tenant fails fail to pay any amount required under this Lease as and installment of rent on the day when the same becomes shall become due and said failure is not cured within payable hereunder and shall continue in default for a period of ten (10) days after Landlord gives written notice thereof from Landlord; (b) thereof, or if Tenant fails shall fail to keep and perform any of the other termterms, conditioncovenants, or obligation under and conditions of this Lease on its part to be performed and said failure is not cured within shall continue in default for a period of thirty (30) days after written Landlord gives notice thereof from Landlord. Upon the occurrence to Tenant of said default, then in said event,- and as often as any such default by Tenantsaid event shall occur, Landlord shall have the option to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Leasemay, at Landlord's option, cure said default at Tenant's sole cost and expense, in which event Tenant any cost incurred by Landlord in curing said default shall become immediately surrender due and payable from Tenant, together with interest thereon at the rate of 12% per annum, or Landlord may terminate this Lease and enter into the Leased Premises to LandlordPremises, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, either with or without being liable for prosecution process of law, and expel Tenant, or any claim of damages therefor; or enter upon person occupying the Leased Premises, and take possession of use such force as may be necessary so to do, and repossess and enjoy the Leased Premises as in Landlord's former estate, but Tenant shall remain fully liable hereunder for all rents and expel or remove other sums to be paid and all covenants to be performed by Tenant and any other person who may be occupying during the remaining balance of the term of this Lease but subject to reduction in accordance with the next sentence. Landlord shall use all reasonable diligence to relet the Leased Premises or Premises, and in said event, Landlord, shall apply the rent received from any part new tenant thereof without being liable for prosecution or on any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in balance due under this Lease, and Tenant shall be responsible for no more than the remaining balance that may then be due hereunder. Notwithstanding anything contained herein in this paragraph to the contrary notwithstandingcontrary, if any default shall occur, other than in the payment of money, which cannot with due diligence be cured within a period of thirty (30) days, and Tenant, prior to the expiration of thirty (30) days from and after the giving of notices as aforesaid, shall commence to eliminate the cause of said default, shall proceed diligently and with reasonable dispatch to take all steps and do all work required to cure said default, and shall thereafter cure said default, then Landlord shall be entitled grant Tenant a reasonable extension of time within which to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same cure said default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇.
Appears in 1 contract
Default of Tenant. Each a. In the event of the following shall constitute a default by any failure of Tenant under this Lease:
(a) Tenant fails to pay any amount required under this Lease as and when the same becomes Base Rent, Additional Rent or other amounts due and said failure is not cured hereunder within ten (10) days after written notice thereof from Landlord; (b) Tenant fails the same shall be due, or any failure to perform any other termof the terms, condition, conditions or obligation under covenants of this Lease and said failure is not cured within to be observed or performed by Tenant with all reasonable diligence, but in any event for more than thirty (30) days after written notice thereof from Landlord. Upon of such failure shall have been given to Tenant provided that, if such default cannot with due diligence by wholly cured within such thirty (30) days, Tenant shall have such longer period, up to ninety (90) days, as may be reasonably necessary to cure the occurrence default, so long as Tenant proceeds promptly to commence the cure of same within such thirty (30) day period and diligently prosecutes the cure to completion, or if Tenant or an agent of Tenant shall intentionally falsify any report required to be furnished to Landlord pursuant to the terms of this Lease, or if Tenant or any guarantor of this Lease shall become bankrupt or insolvent, or file any debtor proceedings, or any person shall file against Tenant or any guarantor of this Lease in any court pursuant to any statute either of the United States or of any state a petition in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Tenant's or any such guarantor's property, or if Tenant or any such guarantor makes an assignment for the benefit of creditors, or petitions for or enters into any similar arrangement, and such bankruptcy, insolvency, receivership or other proceeding is not dismissed in ninety (90) days or if any guarantor of this Lease shall be in default in the performance of any covenant, duty or obligation under any guaranty or other agreement entered into with or in favor of Landlord and such default by Tenantshall remain uncured for a period of thirty (30) days or more after notice of such default, Landlord or if Tenant shall have abandon the option Demised Premises (provided Tenant may vacate the Demised Premises provided it continues to pursue perform its obligations hereunder) or suffer this Lease to be taken under any writ of execution (any one or more of the following foregoing shall constitute an "Event of Default"), then in any such event Tenant shall be in default hereunder, and Landlord, in addition to any other rights and remedies it may have, shall have the immediate right of re-entry and may remove all persons and property from the Demised Premises and such property may be removed and stored in a public warehouse or elsewhere at the sole cost of, and for the account of Tenant, all in accordance with applicable legal process and without being guilty of trespass, or becoming liable for any additional notice loss or demand whatsoever: damage which may be occasioned thereby.
b. Upon the occurrence of an Event of Default, Landlord shall have the right (in addition to any other rights or remedies) to either terminate this Lease or, from time to time, without terminating this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take terminate Tenant's right of possession of the Leased Premises Demised Premises. If Landlord terminates Tenant's right of possession only, Landlord shall use commercially reasonable efforts to make such alterations and expel or remove Tenant and any other person who repairs as may be occupying necessary in order to relet the Leased Premises or any part thereofDemised Premises, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of relet the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Demised Premises or any part thereof without being liable upon such term or terms (which may be for prosecution a term extending beyond the term of this lease) and at such rental or any claim for damages therefor, with or without having terminated this Leaserentals and upon such other terms and conditions as are commercially reasonable. In addition Landlord's obligations under the preceeding sentence are subject to the following conditions: i) Landlord has absolutely no obligation to prefer the Demised Premises over other remedies provided in then available space within the Building, ii) Landlord is under absolutely no obligation to accept any substitute lease for less then the current fair market value of the Demised Premises, iii) Landlord has absolutely no obligation to expend additional funds for tenant improvements for the substitute tenant and (iv) Landlord is under absolutely no obligation to accept a substitute tenant who does not meet Landlord's reasonable creditworthiness standards. Upon any such reletting all rentals received by the Landlord from such reletting shall be applied first to the payment of any indebtedness other than rent due hereunder from Tenant to Landlord; second, to the payment of any reasonable costs and expenses of such reletting, including brokerage fees and attorney's fees and costs of such alterations and repairs; third, to the payment of the rent due and unpaid payment of future rent as the same may become due and payable hereunder. If such rentals received from any such reletting during any month are less than that to be paid during that month by Tenant hereunder, Tenant, upon demand, shall pay any such deficiency to Landlord. No such re-entry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease unless a written notice of such intention is given to Tenant. Notwithstanding any such reletting without termination, Landlord may at any time after such re-entry and reletting elect to terminate this Lease, and anything contained herein in addition to any other remedies it may have, it may recover from any Tenant all damages it may incur by reason of such breach, including the contrary notwithstandingcost of recovering the Demised Premises, Landlord reasonable attorney's fees, and including the worth at the time of such termination of the excess, if any, of the amount of rent and charges equivalent to rent reserved in this Lease for the remainder of the stated term over the then reasonable rental value of the Demised Premises for the remainder of the stated term, which shall be entitled discounted to restrain present value at a rate of ten percent (10%) all of which amounts shall be immediately due and payable from Tenant to Landlord.
c. Landlord may, at its option, in addition to any default other rights or violationremedies available to it in this Lease or otherwise by law, statute or attempted or threatened default or violation equity, spend such money as is necessary to cure any Event of any Default of Tenant herein and the amount so spent, and costs incurred, including reasonable attorney's fees in curing such default, shall be paid by Tenant, as additional rent, upon demand.
d. In the event suit shall be brought for recovery of possession of the termsDemised Premises, covenants, conditions for the recovery of rent or any other amount due under the provisions of this Lease, by injunctionor in connection with any Event of Default, order and an Event of specific performance or other appropriate equitable relief. The remedies provided Default shall be established, Tenant shall pay to Landlord hereunder are intended all reasonable expenses incurred in connection therewith, including attorney's fees, together with interest on all such expenses at the Default Rate from the date of such breach.
e. Tenant hereby expressly waives any and all rights of redemption granted by or under any present or future laws in the event of Tenant being evicted or dispossessed for any cause, or in the event of Landlord obtaining possession of the Demised Premises, by reason of any Event of Default hereunder, or otherwise. Tenant also waives any demand for possession of the Demised Premises, and any demand for payment of rent and any notice of intent to re-enter the Demised Premises, or of intent to terminate this Lease, other than the notices above provided in this Article, or as prescribed by any applicable statutes or laws.
f. No remedy herein or elsewhere in this Lease or otherwise by law, statute or equity, conferred upon or reserved to Landlord shall be exclusive of any other remedy, but shall be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right from time to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to time and as often as the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇occasion may arise.
Appears in 1 contract
Sources: Lease Agreement (Mgi Pharma Inc)
Default of Tenant. Each The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant under this Lease▇▇▇▇▇▇:
(a1) Any failure by Tenant fails to pay the Rent, which for purposes of this Article Thirteen shall be defined to mean Base Rent and Additional Rent required to be paid by Tenant pursuant to the terms of this Lease, within ten (10) days after the due date thereof without any further notice being required from Landlord to Tenant (except that Landlord agrees to give Tenant written notice of default under this Section 13.01 but shall not be required to provide such notice more than once in any one Lease year), or to pay any amount other monetary sums required under this Lease as and when the same becomes due and said failure is not cured to be paid hereunder within ten (10) days after written notice thereof from Landlord; Landlord to Tenant therefor;
(b2) The abandonment or vacation of the Premises by Tenant fails for more than ten (10) consecutive business days unless Tenant shall have provided prior notice to Landlord and given Landlord reasonable assurance of its continued performance under the Lease;
(3) A failure by Tenant to observe and perform any other term, condition, or obligation under provisions of this Lease and said to be observed or performed by Tenant, where such failure is not cured within continues for thirty (30) days after written notice thereof from Landlord. Upon the occurrence of any such default by Tenant, Landlord shall have the option to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any orderto Tenant; provided, or simultaneouslyhowever, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available that Tenant shall not be deemed to be an acceptance or surrender in default if the nature of such failure is such that the Leased Premises by same cannot reasonably be cured within such thirty (30) day period and Tenant shall within such period commence such cure and thereafter diligently prosecute such cure and complete the cure within no more than ninety (90) days, which time shall be extended only upon ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the ▇▇'s written agreement of Landlord and consent to a longer period. ▇▇▇▇▇▇▇▇'s consent to extend the period of cure shall not be unreasonably withheld so long as Tenant demonstrates that the cure could not have been timely completed by expenditure of additional funds and Tenant has specifically designated reserves on its books to cover the full expense of such cure. In no event shall Landlord's consent to a period of cure of more than ninety (90) days be required if Tenant's failure to cure places Landlord in breach of any agreements it may have with other parties, including any lender or other tenant in the Office Building. Any consent to a longer period by Landlord shall be conditioned upon ▇▇▇▇▇▇'s continued use of its best efforts to diligently complete the cure.
Appears in 1 contract
Sources: Lease (American Business Financial Services Inc /De/)
Default of Tenant. Each If the rent or any part thereof shall be unpaid for fifteen days after the same becoming payable (whether formally demanded or not) or if the Tenant shall fail or neglect to perform or observe any of the following terms and conditions herein contained and on its part to be performed or observed or if the Tenant shall constitute become bankrupt or if the Tenant (if a default by Tenant under this Lease:
limited company) shall go into liquidation (awhether compulsory or voluntary except for the purpose of amalgamation of a solvent company) Tenant fails or shall enter into any composition of arrangement with its creditors or shall suffer its goods or chattels to pay be levied in execution then and in any amount required under this Lease as and when the same becomes due and said failure is not cured within ten (10) days after written notice thereof from Landlord; (b) Tenant fails to perform any other term, condition, or obligation under this Lease and said failure is not cured within thirty (30) days after written notice thereof from Landlord. Upon the occurrence of any such default by Tenant, Landlord shall have the option to pursue any one or more of the following remedies said cases it shall be lawful for the Landlord at any time thereafter (with or without notice to the Tenant) to re-enter upon the said premises or any additional notice or demand whatsoever: terminate part thereof in the name of the whole and thereupon this Lease, in which event Tenant Agreement shall immediately surrender absolutely determine and the Leased Premises said deposit so paid as aforesaid shall be absolutely forfeited to Landlord, the Landlord (as liquidated damages and if Tenant fails to do so Landlord may, not as penalty) but without prejudice to any right of action of the Landlord against the Tenant in respect of any breach of the Tenant’s terms and conditions herein contained. All costs and expenses incurred by the Landlord in demanding the rent and other remedy which Landlord may have for omission or arrearages moneys and in Rent, enter upon and take recovering vacant possession of the Leased Premises said premises from the Tenant, including legal costs and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession expenses of the Leased Premises Landlord of all proceedings between the Landlord and expel or remove the Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any respect of the terms, covenants, conditions or other enforcement of the terms and provisions of this LeaseTenancy Agreement or otherwise, shall be paid or repaid by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect the Tenant to the same defaultLandlord on a solicitors-and-own-client basis and shall be recoverable from it as a debt together with interest thereon as hereinafter provided. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only A written notice served by the written agreement Landlord on the Tenant or left at the said premises to the effect that the Landlord thereby exercises the power of re-entry herein contained shall be a full and sufficient exercise of such power notwithstanding any statutory or common law provisions to the contrary. Further, the Tenant shall pay to the Landlord interest at the rate of 2% over and ▇▇▇▇▇▇above the Prime rate per annum quoted by The Hongkong and Shanghai Banking Corporation Limited from time to time (subject to fluctuation) on any sum due and payable by the Tenant to the Landlord under this Agreement from the due date to the date of full payment.
Appears in 1 contract
Sources: Tenancy Agreement (Memec Inc)
Default of Tenant. Each of the following If Tenant shall constitute a default by Tenant under this Lease:
(a) Tenant fails fail to pay when due in the manner provided in Section 4(b) hereof any amount monthly installment of Base Rent or any other charge or payment required under this Lease as of Tenant hereunder (any such charge or payment being conclusively deemed to be additional rent payable hereunder), and when the same becomes due and said failure is not cured within such default continues for ten (10) days after Landlord gives Tenant a written notice thereof from Landlord; specifying the failure, or (b) Tenant fails violate or fail to perform any of the other termconditions, conditioncovenants, or obligation under this Lease agreements herein made by Tenant, and said such violation or failure is not cured within shall continue for a period of thirty (30) days after written notice thereof from to Tenant by Landlord. Upon , plus such additional period of time as may be reasonably necessary to cure such violation or failure, provided Tenant commences the occurrence cure within the 30-day period and prosecutes the same to completion with due diligence, or (c) vacate or abandon the demised premises, then in any of any such default by Tenantsaid events this Lease shall, Landlord shall have at the option of Landlord, cease and terminate and shall operate as a notice to pursue quit (any one notice to quit or more of Landlord's intention to re-enter being hereby expressly waived) and Landlord may proceed to recover possession under and by virtue of the following remedies without any additional notice provisions of the laws of the State of Maryland, or demand whatsoever: by such other proceedings, including re-entry and possession, as may be applicable. If Landlord elects to terminate this Lease, in which event the obligations herein contained on the part of Landlord to be performed shall cease without prejudice; provided, however, that Landlord shall retain the right to recover from Tenant all rental and other charges accrued up to the time of such termination, or recovery of possession by Landlord, whichever is later. Should this Lease be terminated before the expiration of the term of this Lease by reason of Tenant's default as hereinabove provided, or if Tenant shall immediately surrender abandon or vacate the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission demised premises before the expiration or arrearages in Rent, enter upon and take possession termination of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions term of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and the demised premises may be exercised relet by Landlord, for such rent and upon such terms as Landlord in any orderis able to obtain, or simultaneouslyand, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to if the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available full rental hereinabove provided shall not be deemed to realized by Landlord, Tenant shall be an acceptance or surrender of the Leased Premises liable for all damages sustained by ▇▇▇▇▇▇Landlord, whether by agreement or by operation of lawincluding, it being understood that such surrender can be affected only by the written agreement of Landlord without limitation, deficiency in rent and ▇▇▇▇▇▇.all other charges due hereunder, reasonable
Appears in 1 contract
Sources: Office Lease (Radio One Inc)
Default of Tenant. Each The Landlord may give the Tenant ten days' of the Landlord's intention to terminate the Lease in the event of any of the following shall constitute a default by Tenant under this Leasecircumstances:
(a) If the Tenant fails to pay is in default in the payment of the basic monthly rental, in the payment of the additional rental or in the performance of any amount required under covenant of this Lease as Lease, other than those specified in Subparagraphs (b) through (d) below, and when the same becomes due and said failure such default is not cured within ten (10) fifteen days after written notice thereof from is given to the Tenant by the Landlord; or if such default is of such nature that it cannot be cured completely within fifteen days, if the Tenant has not promptly commenced curing such default within such fifteen-day period and thereafter proceeded with reasonable diligence and in good faith to remedy such default.
(b) If the Tenant fails to perform any other termis adjudicated a bankrupt, conditionmakes a general assignment for the benefit of creditors, or obligation under takes the benefit of any insolvency act, or if a receiver or trustee in bankruptcy is appointed for the Tenant's property and such appointment is not vacated within ninety days.
(c) If the premises becomes vacant or deserted for a period of thirty days.
(d) If this Lease and said failure is not assigned or the premises sublet other than in accordance with the terms hereof. If the Landlord shall give the ten days' notice of intention to terminate provided above, unless the condition giving rise thereto is cured within thirty such period (30) days after written notice thereof from Landlord. Upon in which case this Lease shall not terminate), then, at the occurrence expiration of any such default by Tenantperiod, Landlord this Lease shall have terminate as completely as if that were the option to pursue any one or more date herein definitely fixed for the expiration of the following remedies without any additional notice or demand whatsoever: terminate this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession term of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein the Tenant shall then quit and surrender the premises to Landlord. The Tenant shall remain liable for all its obligations for the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of basic monthly rental and the terms, covenants, conditions or other provisions additional rental under this Lease despite such termination of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇.
Appears in 1 contract
Default of Tenant. Each An Event of the following Default shall constitute a default by Tenant exist under this Lease, if:
(a1) Tenant fails to does not pay any amount Rent as required under this Lease, including any installment of Monthly Rent, costs of Landlord's Work, if any, or any sums, charges, expenses and costs of any kind or nature identified in this Lease as additional rent, although no legal or formal demand has been made, provided that there shall exist no Event of Default unless Tenant shall have been given written notice of such nonpayment and when shall not have made the same becomes due and said failure is not cured payment within ten five (105) days after following the giving of such notice, provided, however, Landlord shall not be required to provide more than one (1) written notice thereof from Landlord; of default to Tenant in any one twelve (b12) month period during the Lease Term;
(2) Tenant fails to materially violates or does not perform any other term, condition, or obligation under of the provisions of this Lease and said failure is not cured within required of Tenant, provided that, on up to three (3) occasions during the Lease Term, there shall exist no Event of Default unless Tenant's violation or nonperformance of any of those provisions continues for a period of thirty (30) days after written notice thereof from has been delivered by Landlord to Tenant or, in cases where the violation or nonperformance cannot be corrected within thirty (30) days, Tenant does not begin to correct the violation or nonperformance within thirty (30) days after receiving Landlord. Upon 's written notice and/or Tenant thereafter does not diligently pursue the occurrence of any such default by Tenant, Landlord shall have the option to pursue any one or more correction of the following remedies violation or nonperformance to completion within sixty (60) days after receiving Landlord's written notice;
(3) Tenant abandons the Premises without any additional notice paying the Rent when due;
(4) this Lease or demand whatsoever: terminate this Lease, in which event the estate of Tenant hereunder shall immediately surrender the Leased Premises be transferred to Landlord, and if Tenant fails or shall pass to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter devolve upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying or party except in a manner permitted herein;
(5) Tenant does not obtain the Leased Premises release of any mechanic's lien as required by this Lease;
(6) this Lease or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution shall be taken upon execution or by other process of law directed against Tenant, or shall be taken upon or subject to any claim for damages therefor, with attachment at the instance of any creditor or without having terminated this Lease. In addition to the other remedies provided in this Leaseclaimant against Tenant, and anything contained herein the attachment shall not be discharged or disposed of within fifteen (15) days after the levy thereof;
(7) Tenant, its employees or invitees do not comply with the rules and regulations pertaining to parking space usage described in Section 1.3, provided that there shall exist no Event of Default unless Tenant shall have been given written notice of such failure to comply and Tenant shall not have cured the contrary notwithstandingnoncompliance within ten (10) days following the giving of such notice, provided, however, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed required to be provide more than one (1) written notice of default for failure to comply with the rules and regulations pertaining to parking space usage to Tenant during the Lease Term; or
(8) an acceptance or surrender Event of the Leased Premises by ▇▇▇▇▇▇Bankruptcy occurs, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇as specified in Section 3 1.14.
Appears in 1 contract
Sources: Office Lease (Xedar Corp)
Default of Tenant. Each of the following If any Base Rent or Additional Rent reserved, or any part thereof, shall constitute a default by Tenant under this Lease:
(a) Tenant fails to pay any amount required under this Lease as be and when the same becomes due and said failure is not cured within remain unpaid for ten (10) days after written notice thereof from Landlord; (b) Tenant fails to perform any other term, conditionthe date such payment is due, or obligation under if Tenant violates or defaults in any of the other provisions of this Lease and said failure is not cured within Lease, which violation or default continues for a period of thirty (30) days after written notice thereof from Landlord. Upon the occurrence of any such default has been given by Landlord to Tenant, Landlord shall have the option to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which then Landlord may have for omission or arrearages in Rent, re-enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Leaselegal process, by force if necessary, and anything contained herein either terminate this Lease or Tenant's right of possession. No such re-entry shall terminate this Lease unless Landlord gives Tenant a written notice of termination. Notwithstanding any re-entry, the liability of Tenant for Base Rent and Additional Rent shall not be extinguished for the balance of the term hereof, and Tenant shall continue to make payments of Base Rent and Additional Rent and all other sums due hereunder as and when due, except that if Landlord relets the contrary notwithstandingPremises, Landlord which it shall be under no obligation to do, Tenant shall be entitled to restrain any default or violation, or attempted or threatened default or violation receive a credit against the payments otherwise due hereunder in the amount of the net proceeds of such reletting. The net proceeds of any reletting shall be determined by deducting from the gross rentals received the costs of the termsany such reletting, covenantsincluding, conditions or other provisions of this Leasebut not limited to, by injunctionbrokerage fees, order of specific performance or other appropriate equitable reliefalterations , rent concessions, and legal fees. The foregoing remedies provided shall not be exclusive and, in addition to the rights reserved pursuant to paragraph 14 above, Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its reserves the right to exercise any other remedy granted to Landlord hereunder (provided for at law or in equity. In addition, Tenant shall be liable for Landlord's costs and expenses, including legal fees, incurred in enforcing its rights under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇this Lease.
Appears in 1 contract
Default of Tenant. Each of the following shall constitute A. It is a default by Default for Tenant under this Lease:
to: (a) not pay any Base or Additional Rent or other sum when due under the Lease (provided, however, that Tenant shall not be deemed in default until it fails to pay cure any amount required under this Lease as and when the same becomes due and said failure is not cured such delinquency within ten (10) 3 days after receiving Landlord's written notice thereof from Landlordof the delinquency); (b) not cure any Lease violation not described by the other clauses of this paragraph within 10 days after Landlord gives notice of the violation (provided Landlord will extend this period so long as cure is possible and Tenant fails has begun and is diligently pursuing a cure); (c) knowingly violate the Lease on 3 separate occasions during any 12 month period; (d) knowingly misrepresent any material fact in any writing provided to perform Landlord or pursuant to this Lease; and (f) become insolvent or the subject of a bankruptcy petition or an assignment for the benefit of creditors.
B. A Default entitles Landlord to exercise all remedies available under law, including the right to re-enter, at its option, the Premises and remove all persons and property from the Premises. Without limitation, Landlord may, at its option, instead of exercising any other term, condition, rights or obligation remedies available to it under this Lease or otherwise, enter the Premises (if necessary) and said failure is not cured within thirty (30) days after written notice thereof from Landlord. Upon the occurrence perform such acts or spend such sums of money as may be reasonably necessary to cure any such default Default by Tenant, Landlord shall have and the option to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Leasecost incurred, including reasonable attorney's fees, in which event Tenant curing the Default shall immediately surrender be paid by Tenant, as additional rent, within 10 days after receipt of Landlord's invoice.
C. Should Landlord elect to re-enter the Leased Premises to LandlordPremises, and if Tenant fails to do so Landlord mayas herein provided, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and should it take possession of the Leased Premises pursuant to legal proceedings or pursuant to any notice provided for by law, it may either terminate this Lease or it may from time to time, without terminating this Lease, make such alterations and expel or remove Tenant and any other person who repairs as may be occupying necessary in order to relet the Leased Premises or any part thereofPremises, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of relet the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution such term or terms (which may be for a term extending beyond the term of this Lease) and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable. Upon each such reletting all rentals received by the Landlord from such reletting shall be applied first to the payment of any indebtedness other than rent due hereunder from Tenant to Landlord; second, to the payment of any costs and expenses of such reletting, including brokerage fees and attorney's fees and of costs of such alterations and repairs; third, to all rent accrued and due hereunder from Tenant; and fourth, to a fund to be held by Landlord and applied in payment of future rent as the same may become due and payable from Tenant hereunder. Any surplus remaining upon termination of this Lease shall belong to Landlord. If such rentals received from such reletting during any month be less than that to be paid during that month by Tenant hereunder, Tenant, upon demand, shall pay any such deficiency to Landlord. No such re-entry or taking possession of the Premises by Landlord, or reletting, or any claim other act or omission, shall be construed as an election on its part to terminate this Lease unless a written notice of such intention be given to Tenant. Notwithstanding any such reletting without termination, Landlord may at any time after such re-entry elect to terminate this Lease for damages therefor, with or without having terminated this Lease. such previous breach.
D. In addition to the its other remedies provided in this Lease, and anything contained herein to the contrary notwithstandingavailable because of Tenant's Default, Landlord may elect, by giving written notice, to accelerate unaccrued Base and Additional Rent and hold Tenant immediately liable for the present value (using a 6% per annum time-value of money component) of the sum of all Base and Additional Rent payable during the remainder of the Term. For purposes of this provision, accelerated Additional Rent shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any deemed fixed for each month of the termsremainder of the Term in the same estimated amount as had been due monthly at the time Landlord gives notice of the acceleration. If Landlord exercises its rights under this paragraph D., covenantsLandlord will not thereafter terminate the Lease but rather will credit against Tenant's obligation under this paragraph any rentals, conditions or other provisions net of this Leasethe expenses of reletting, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) it collects from re-letting the Premises with respect to the same defaultremainder of the Term; provided, however, that Landlord may terminate the Lease after accelerating the rent if it also waives any right to claim rent on an accelerated basis and limits its remedies to those available under the other paragraphs of this Article. Exercise Notwithstanding anything in this Article to the contrary, Landlord waives any legal right to dispossess Tenant by reason of a Default under clauses (a) or (b) of paragraph A., above, if Tenant cures the Default prior to the issuance of an order for a writ of restitution or similar order by a court of competent jurisdiction.
E. Should Landlord at any time terminate this Lease for any such Default, in addition to any other remedies it may have, it may recover from Tenant all damages it may incur by reason of such breach, including the worth at the time of such termination of the excess, if any, of the amount of rent and changes equivalent to rent (discounted to present value using a 6% value of money discount factor) reserved in this Lease for the remainder of the stated term over the then reasonable rental value of the Premises for the remainder of the stated term, all of which amounts shall be immediately due and payable from Tenant to Landlord.
F. All expenses, including, without limitation, attorneys' fees, broker's fees, and retro-fit expense, incurred by Landlord by reason of any one Tenant's breach, whether or more remedies hereunder granted not the breach results in the commencement of legal proceedings or otherwise available involves termination
G. No remedy of Landlord's shall not be deemed to exclusive except insofar as it may be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or such by operation of law. To the extent the law allows, it being understood that such surrender can Landlord's remedies shall be affected only by the written agreement of cumulative and exercisable from time to time and as often as Landlord and ▇▇▇▇▇▇desires.
Appears in 1 contract
Sources: Lease (Fsi International Inc)