Common use of Default Clause in Contracts

Default. If default is made in the payment of any installment of rent on the due date thereof, or if Lessee shall default in the performance of any other agreement (other than payment of rent) in this Lease and such default (other than payment of rent), continues for ten days after written notice thereof, or if the Premises be vacated or abandoned, then in any such event this Lease shall terminate, at the option of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthly.

Appears in 3 contracts

Sources: Lease Agreement, Lease Agreement, Lease Agreement

Default. 18.1. If Sublessee shall default is made in the payment of any installment rent or other payments required of rent on the due date thereofSublessee, and if Sublessee shall fail to cure said default within seven (7) business days after receipt of written notice of said default from Sublessor; or if Lessee Sublessee shall default in the performance or observance of any other agreement or condition on its part to be performed or observed, and if Sublessee shall fail to cure said default within ninety (90) days or such longer period as shall be reasonably required so long as the Sublessee shall be diligently pursuing such cure after receipt of written notice of said default from Sublessor; or if any person shall levy upon, or take Sublessee's leasehold interest or any part hereof, upon execution, attachment, or their process of law; or if Sublessee shall make an assignment of its property for the benefit of creditors; or if Sublessee shall file voluntary bankruptcy; or if any bankruptcy or insolvency proceedings shall be commenced by Sublessee or an involuntary bankruptcy shall be filed against the Sublessee which remains undischarged for a period of 60 days, or if a receiver, trustee, or assignee shall be appointed for the whole or any part of the Sublessee's property, then in any of said cases, Sublessor lawfully may upon seven days notice or if such notice shall adversely affect the rights of the Sublessor in any bankruptcy or receivership, then immediately, or at any time thereafter, and without further notice of demand, enter into and upon the Subleased Premises, or any part hereof in the name of the whole, and hold the Subleased Premises as if this Sublease had not been made, and expel Sublessee and those claiming under it, and remove its or their property without being taken or deemed to be guilty of any manner of trespass (or Sublessor may send written notice to Sublessee of the termination of this Sublease, and upon entry as aforesaid (or in the event that Sublessor shall sent to Sublessee notice of termination as above provided, on the fifth (5th) day next following the date of the sending of the notice), the term of this Sublease shall terminate. Sublessee hereby expressly waives any and all rights of redemption granted by or under any present or future laws in the event of Sublessee being evicted or dispossessed for any cause, or in the event Sublessor terminates this Sublease as provided in this Article. The Sublessee shall be liable for a 5% late charge applicable to any amounts due under this Sublease, which are not paid within seven (7) business days from the date of the notice of default. 18.2. In the case of such termination, Sublessee will indemnify and pay to Sublessor each month, or such other than period elected by the Sublessor against all loss of rent, and all costs, expenses of any kind incurred by Sublessor by reason of such termination, between the time of termination and the expiration of the term of this Sublease. Sublessor shall reasonably perform its legal obligation to relet the premises for such term as the Sublessor shall determine, without releasing Sublessee from Sublessee's liability whatsoever. The Sublessee shall be liable for any expenses incurred by Sublessor in connection with obtaining possession of the Subleased Premises, with removing from the Subleased Premises property of Sublessee and persons claiming under it (including warehouse charges), with putting the Subleased Premises into a condition reletting similar to its condition at the commencement of this Lease, reasonable wear and tear excepted, and with any reletting, including, but without limitation, reasonable attorneys' fees and brokers' fees. Any monies collected from any reletting shall be applied first to the foregoing expenses and then to the payment of rent and all other payments due from Sublessee to Sublessor. The Sublessor shall, commensurate with any demand for payment of any of the above as to expenses or rent) , provide the Sublessee with an itemization of all such items as a condition to the Sublessee's obligations to make payment. If Sublessor shall be in default in the prompt and full performance of any other of its promises, covenants, or agreements contained in this Lease Sublease and such default (other than payment of rent), in performance continues for ten more than thirty (30) days after written notice thereofthereof from Sublessee to Sublessor specifying the particulars of such default or breach of performance provided, or however, that if the Premises default complained of, is of such a nature that the same cannot be vacated rectified or abandonedcured within such thirty (30 day period, then such default shall be deemed to be rectified or cured if Sublessor, within such thirty (30) day period, shall have commenced such cure and shall continue thereafter with due diligence to cause such cure to be completed. Upon any default of this Sublease by Sublessor, Sublessee shall be entitled to pursue any and all remedies available to Sublessee at law or in any such event this Lease shall terminateequity, at the option of the Lessorincluding, and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demandlimitation, the service right of self- help. In the event Sublessor fails to cure the default within ten (10) days after delivery of such notice, demand or legal process being hereby expressly waivedSublessee shall have the right, and upon but not the obligation, to cure such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal actiondefault itself, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry costs incurred by Sublessee in curing such default shall be offset against the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyBase Rent next coming due until satisfied in full.

Appears in 3 contracts

Sources: Sublease (Aprisma Management Technologies Inc), Sublease (Cabletron Systems Inc), Sublease (Aprisma Management Technologies Inc)

Default. (a) If default is made (i) Tenant defaults in the payment when due of any installment of Minimum Annual Rent or in the payment of any installment Additional Rent and said default is not cured within ten (10) days of rent on the due date thereof, of default or if Lessee shall default in (ii) the performance of any other agreement (other than payment of rent) Premises become vacant or deserted except as provided in this Lease Agreement or (iii) Tenant defaults in fulfilling any other covenant of this Lease Agreement and Tenant fails to remedy such default within twenty (20) days after notice by Landlord to Tenant specifying the nature of such default (or if said default cannot be completely cured or remedied within said twenty (20) day period and Tenant shall not have diligently commenced curing such default within such twenty (20) day period and shall not thereafter in good faith diligently proceed to remedy or cure such default) or (iv) Tenant shall file a petition in bankruptcy or be adjudicated a bankrupt or make an assignment for the benefit of creditors or take advantage of any insolvency act, then Landlord may, by notice to Tenant, cancel this Lease Agreement and this Lease Agreement and the Term hereunder shall end and expire as fully and completely as if the date of cancellation were the date herein definitely fixed for the end and expiration of this Lease Agreement and the Term hereof. Tenant shall then quit and surrender the Premises to Landlord, but Tenant shall remain liable as hereinafter provided. (b) If (i) the notice provided for in subsection (a) above shall have been given and the term shall expire as aforesaid, or (ii) Tenant shall make default in payment of the Minimum Annual Rent or any item of Additional Rent or any part of either or in making any other payment herein provided for a period of ten (10) days after notice by Landlord to Tenant of such default, or (iii), any execution shall be issued against Tenant or any of Tenant's property, whereupon the Premises shall be taken or occupied or attempted to be taken or occupied by someone other than payment Tenant, then and in any of rent)such events, continues Landlord may, without notice, re-enter the Premises, and dispossess Tenant or other occupant of the Premises, by summary proceedings or otherwise, and remove their effects and hold the Premises as if this Lease Agreement had not been made. Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end, but Tenant shall remain liable for ten days after written notice thereofdamages as hereinafter provided. (c) It is expressly agreed that no demand for Minimum Annual Rent or Additional Rent, and no re-entry for condition broken, as at common law, shall be necessary to enable the Landlord to recover possession of the premises pursuant to law, and all right to any such demand, or if the Premises be vacated or abandoned, then in any such event this Lease shall terminate, at re-entry is hereby expressly waived by the option Tenant. It is further agreed that any acceptance of the Lessor, and Lessor may Minimum Annual Rent or Additional Rent or failure by Landlord to re-enter the Premises shall not be held to be a waiver of landlord's right to terminate this Lease Agreement, and Landlord may re-enter and take possession thereof, with of same as if no Minimum Annual Rent or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby Additional Rent has been accepted. (d) It is expressly waived, and upon such entry, as aforesaid, agreed that whenever this Lease Agreement shall terminate by lapse of time or by virtue of any of the express terms and the Lessor may exclude Lessee from the Premisesconditions set forth herein, changing the lock on the door or doors if deemed necessary, if applicable, without being liable Tenant hereby waives all right to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry an Notice to Quit Possession as prescribed by the Lessor that the Lessee shall remain liable for a sum equal statutes relating to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlySummary Process.

Appears in 3 contracts

Sources: Lease Agreement (Sun Hill Industries Inc), Lease Agreement (Sun Hill Industries Inc), Lease Agreement (Sun Hill Industries Inc)

Default. The occurrence of any one or more of the following shall constitute an event of default (an "Event of Default") hereunder: (i) If Tenant shall default is made in the payment of any installment of rent on the due date thereof, or if Lessee Rent herein provided as and when due; or (ii) If Tenant shall be in default in the performance of performing any other agreement (other than payment of rent) in this Lease and such default (other than payment of rent), continues for ten days after written notice thereof, or if the Premises be vacated or abandoned, then in any such event this Lease shall terminate, at the option of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with terms or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination provisions of this Lease other than the provision requiring the payment of Rent, and re-entry by fails to cure such default within ten (10) days after the Lessor that the Lessee date of receipt of written notice of such default from Landlord; or (iii) If Tenant or any guarantor hereof is adjudicated bankrupt or insolvent; or if Tenant or any guarantor hereof shall remain liable for become insolvent, shall make a sum equal to the entire rent payable to the end transfer in fraud of the Term hereof and creditors or shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let make an assignment for the remainder benefit of creditors; or is a permanent receiver is appointed for Tenant's or any such guarantor's property and such receivers is not removed within sixty (60) days thereafter Tenant to obtain such removal; or if, whether voluntarily or involuntarily, Tenant or any such guarantor takes advantage of any bankruptcy or other debtor relief proceedings under any present or future law; or if there shall be filed against Tenant or any such guarantor a petition in bankruptcy or insolvency or a similar proceeding; or if Tenant's effects should be levied upon or attached under process against Tenant which is not satisfied or dissolved within thirty (30) days; or (iv) If Tenant shall do or permit to be done anything which creates a lien upon the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any other part thereof for the remainder of the Term Property; or (v) If Tenant shall violate the provision of Section 25 of this Lease by the attempted making of an unpermitted assignment, sublease or for any longer transfer of stock or shorter period as opportunity may offer, and at such rental as interest in the ownership of Tenant; or (vi) If Tenant shall fail to maintain in force all policies of insurance required by this Lease. Any notice provided in this Paragraph may be obtainedgiven by Landlord, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount Landlord's attorney or any agent of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyLandlord.

Appears in 3 contracts

Sources: Lease Agreement (KnowBe4, Inc.), Lease Agreement (KnowBe4, Inc.), Lease Agreement (American Recreational Enterprises Inc)

Default. If default is made SECTION 1. The following occurrences are "events of default": (a) The Lessee defaults in the due and punctual payment of any installment Base Rent and Additional Rent and such default continues for ten (10) days after receipt of notice from the Lessor; provided, however, that the Lessee will not be entitled to more than one (1) notice of default in payment of rent during any twelve month period, and if, within twelve (12) months after any such notice, any rent is not paid when due, the grace period shall be shortened to five (5) days after receipt of notice from Lessor. (b) Lessee breaches any of the other agreements, terms, covenants, or conditions which this Lease requires Lessee to perform, and such breach continues for a period of thirty (30) days after notice by Lessor to Lessee provided that if any breach cannot reasonably be cured within said thirty (30) days, then no event of default shall exist so long as Lessee has commenced to cure the failure within said thirty (30) days and diligently prosecutes the curing thereof. SECTION 2. If an Event of Default shall occur, Lessor may, at its option, give to the Lessee a notice terminating this Lease upon a date specified in such notice which date shall be not less than three (3) business days after the date of receipt by the Lessee of such notice and upon the date specified in said notice, the term and estate hereby vested in the Lessee shall cease and any and all other right, title and interest of Lessee hereunder shall likewise cease without further notice or lapse of time as fully and with like effect as of the term of this Lease had elapsed, but Lessee shall continue to be liable to Lessor as hereinafter provided. SECTION 3. Upon any termination of this Lease as the result of an Event of Default, the Lessee shall quit and peaceably surrender the Demised Premises to the Lessor and, at any time after such termination, the Lessor may, without further notice, enter the Demised Premises and repossess the same by summary proceedings or other lawful means and may dispossess the Lessee and remove it and all claiming under it from the Demised Premises and may have, hold and enjoy the Demised Premises and the right to receive all rental income from the same. SECTION 4. At any time or from time to time after any such termination, Lessor shall use reasonable efforts to relet the Demised Premises or any part thereof, in the name of Lessor or otherwise, for such term or terms (which may be greater or less than the period which would otherwise have constituted the balance of the Lease term) and on such conditions (which may include concessions or free rent) as the due date Lessor, in its reasonable discretion, may determine and may collect and receive the rents therefor. Lessor shall in no way be responsible or liable for any failure to relet the Demised Premises or any part thereof, or if for any failure to collect any rent due upon any such reletting provided it has used its reasonable efforts as aforesaid. In the event of Lessee's default, Lessee shall default in the performance be liable to Lessor for all expenses associated with reletting including, without limitation, legal fees and real estate broker's commissions. SECTION 5. No such termination of any other agreement (other than payment this Lease shall relieve Lessee of rent) in its liability and obligations under this Lease and such default (other than payment of rent), continues for ten days after written notice thereof, or if the Premises be vacated or abandoned, then in liability and obligations shall survive any such termination as more particularly described below. In the event this Lease of any such termination, the Lessee shall terminatepay to the Lessor Base Rent and Additional Rent up to the date of termination. The Lessee shall also pay to the Lessor, on demand, at the option Lessor's election, either (i) the amount by which, at the time of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by (or at any time thereafter if the Lessor that shall have initially elected damages under subparagraph (ii) of this Section 5) (a) the Lessee shall remain liable aggregate of the rent due hereunder projected over the period commencing with such time and ending on the termination date of this Lease exceeds (b) the aggregate fair market rental value of the Demised Premises for a sum such period; or (ii) amounts equal to the entire rent which would have been payable to by Lessee had this Lease not been so terminated, payable upon the end of due dates therefor specified herein following such termination and until the Term hereof and then scheduled termination date, provided, however, if Lessor shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Demised Premises during such period, that Lessor shall credit Lessee with the net rents received by Lessor from such reletting, such net rents to be determined by first deducting from the gross rents as and when received by Lessor from such re-letting the expenses reasonably incurred or paid by Lessor in terminating this Lease, as well as the reasonable expenses of re-letting, including altering and preparing the Demised Premises for new tenants, brokers' commissions, and all other similar and dissimilar reasonable expenses properly chargeable against the Demised Premises and the rental therefrom, it being understood that any such re-letting may be for a period equal to or shorter or longer than the remaining term of this Lease; and provided, further, that (a) in no event shall Lessee be entitled to receive any excess of such net rents over the sums payable by Lessee to Lessor hereunder and (b) in no event shall Lessee be entitled in any suit for the collection of damages pursuant to this Subparagraph (ii) to a credit in respect of any net rents from a re-letting except to the extent that such net rents are actually received by Lessor prior to the commencement of such suit. If the Demised Premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. Lessor shall use reasonable efforts to re-let the Demised Premises. SECTION 6. A suit or suits for the remainder recovery of the Term such damages, or for any longer or shorter period as opportunity installments thereof, may offerbe brought by Lessor from time to time at its election, and nothing contained herein shall be deemed to require Lessor to postpone suit until the date when the term of this Lease would have expired if it had not been terminated hereunder. Nothing herein contained shall be construed as limiting or precluding the recovery by Lessor against Lessee of any sums or damages to which, in addition to the damages particularly provided above, Lessor may lawfully be entitled by reason of any default hereunder on the part of Lessee. SECTION 7. The specified remedies to which Lessor may resort hereunder are cumulative and are not intended to be exclusive of any remedies or means of redress to which Lessor may at such rental as may any time be obtainedlawfully entitled, and ▇▇▇▇▇▇ agrees to pay Lessor may invoke any remedy (including without limitation the difference between sum equal to the amount remedy of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyspecific performance) allowed at law or in equity as if specific remedies were not herein provided for.

Appears in 2 contracts

Sources: Lease (Digitalnet Holdings Inc), Lease (Digitalnet Holdings Inc)

Default. If default is made in the payment of any installment of rent on the due date thereof, or if If: (1) Lessee shall default fail to pay any rent or other sum payable hereunder for a period of 10 days after the same is due; (2) Lessee shall fail to observe, keep or perform any of the other terms, agreements or conditions contained herein or in the performance of any other agreement (other than payment of rent) in this Lease regulations to be observed or performed by ▇▇▇▇▇▇ and such default (other than payment of rent), continues for ten a period of 30 days after written notice thereof, by Lessor; (3) This Lease or if the Premises any interest of Lessee hereunder shall be vacated levied upon by any attachment or abandonedexecution, then in any such event shall constitute an event of default by Lessee. Upon the occurrence of any event of default by Lessee hereunder, Lessor may, at its option and without any further notice or demand, in addition to any other rights and remedies given hereunder or by law, do any of the following: (a) Lessor shall have the right, so long as such default continues, to give notice of termination to Lessee. On the date specified in such notice (which shall not be less than 3 days after the giving of such notice) this Lease shall terminate. (b) In the event of any such termination of this Lease, at the option of the Lessor, and Lessor may then or at any time thereafter, re-enter the Premises and take possession thereof, with or without force or legal process remove there from all persons and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, property and upon such entry, as aforesaid, this Lease shall terminate again repossess and the Lessor may exclude Lessee from enjoy the Premises, changing the lock on the door without prejudice to any other remedies that Lessor may have by reason of ▇▇▇▇▇▇'s default or doors if deemed necessary, if applicableof such termination. (c) The amount of damages which Lessor may recover in event of such termination shall include, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced limitation, (1) the amount at the time of award of unpaid rental earned and other sums owed by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay Lessor hereunder, as of the difference between sum equal time of termination, together with interest thereon as provided in this Lease, (2) all legal expenses and other related costs incurred by Lessor following Lessee's default including reasonable attorneys' fees incurred in collecting any amount owed hereunder (3) any damages to the amount of rent payable during property beyond its present condition. (d) Upon the residue Lessee's failure to remove its personal property from the Premises after the expiration of the Term term of this Lease, Lessor may in its sole discretion, without notice to or demand upon Lessee, remove, sell or dispose of any and net rent received all personal property located on the Premises. Lessee waives all claims for damages that may be caused by the Lessor during the Term after deducting all expenses ▇▇▇▇▇▇'s removal of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyproperty as herein provided.

Appears in 2 contracts

Sources: Lease Agreement, Lease Agreement

Default. If default is made Without in any way restricting any other rights and remedies which the Lessor may have in the payment case of the breach or non-observance or non-performance on the part of the Lessee of any installment of rent on the due date thereofcovenant, proviso, condition, restriction or if Lessee shall default in the performance of any other agreement (other than payment of rent) stipulation in this Lease and such default contained, (other than payment of rent), continues for ten days after the “Default”) the Lessor may give to the Lessee written notice thereof, or requiring the Lessee to remedy such Default and if the Premises be vacated or abandoned, then in any Lessee fails to remedy such event this Lease shall terminate, at Default within a period of thirty (30) days from the option receipt of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of such notice, demand or legal process being hereby expressly waivedor, in the case of a Default which requires more than thirty (30) days to remedy, if the Lessee fails to commence to remedy such Default within a period of thirty (30) days from the receipt of such notice and upon thereafter diligently continue in its best efforts until such entry, as aforesaidDefault has been completely remedied, this Lease shall thereupon terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may it shall be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let lawful for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let to enter into and upon the Leased Premises Demised Estate (or any part thereof for in the remainder name of the Term whole), to re-enter and the same to have again, repossess and enjoy, anything in this Lease contained to the contrary notwithstanding, and, should the Lessor so elect by notice to the Lessee within thirty (30) days of exercising this right, any or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇all ▇▇▇▇▇ agrees to pay which the difference between sum equal Lessee may have drilled on the Said Lands, including all tools, machinery, buildings, erections, equipment and materials (the “Equipment”) which the Lessee may have placed on the Said Lands for the express purpose of producing Leased Substances shall become the property of the Lessor free and clear of any claim or interest of the Lessee and the Lessee shall assign to the amount of rent payable during Lessor, without consideration, the residue wellbore(s), the Equipment, the surface rights of the Term Said Lands and net rent received by any regulatory permits or licences which the Lessor during may request; provided that, nothing in this clause 18. contained shall relieve the Term after deducting all expenses Lessee from its obligations under clause 20. (Removal of every kind the Lessee’s Equipment) unless and to the extent that the Lessor elects to take over the ▇▇▇▇▇ and Equipment or any portion thereof. Without derogating from the foregoing provisions of this clause 18, if the Demised Estate or a part thereof is included in any plan of unitization to which the Lessor has consented and a Default occurs which does not relate wholly or partly to the portion of the Said Lands included in the plan of unitization, then the Lessor shall have the right to terminate this Lease in the manner provided in this clause for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyportion of the Said Lands not included in the plan of unitization.

Appears in 2 contracts

Sources: Petroleum Lease, Natural Gas Lease

Default. If BUYER is in material default hereunder, or, on or before the date of closing as set forth herein, indicates that BUYER is made unable or unwilling to perform and SELLER stands ready to perform SELLER's obligations, SELLER's sole and exclusive remedy shall be the right to terminate this Agreement by written notice to BUYER or BUYER's attorney and retain the down payment as reasonable liquidated damages for BUYER's inability or unwillingness to perform. It is the intention of the parties hereto freely to make advance provision on the date of this Agreement for such event in order (a) to avoid controversy, delay and expense, and (b) to specify now a reasonable amount agreeable to both for compensation to the SELLER for losses which may not be readily ascertainable or quantifiable, such as any of the following which might be necessary to place SELLER in the payment position SELLER would have been in had BUYER made timely performance: costs of carrying, maintaining, insuring and protecting the property; loss of interest income on the proceeds; loss of optimum market time, value and conditions; the uncertainty, delay, expense and inconvenience of finding a substitute buyer; additional commissions, fees, taxes and borrowing expenses to meet obligations entered into in anticipation of performance. In such event and upon SELLER's written notice of termination, the Premises shall be free of any installment claims or interest of rent on the due date BUYER therein by virtue of this Agreement. In no event shall the closing, or any extension thereof, or if Lessee shall default in the performance of any other agreement take place later than twenty-one (other than payment of rent21) in this Lease and such default (other than payment of rent), continues for ten calendar days after written notice thereof, or if the Premises be vacated or abandoned, then in any such event this Lease shall terminate, at the option of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premisesdate of closing set forth in Paragraph 4 hereof, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal subject to the entire rent payable to provisions of Paragraphs 6 and 11. In the event closing has not taken place by the end of said twenty-one (21) day period, through no fault of the Term hereof non- delaying party, the delaying party shall be deemed in default. If SELLER defaults hereunder, BUYER shall have such remedies as BUYER shall be entitled to at law or in equity, including, but not limited to, specific performance. The foregoing notwithstanding, a delay in the closing through no fault of the BUYER which results in either the loss of the BUYER’S mortgage commitment or an adverse change in the terms of such commitment shall entitle BUYER to rescind this Agreement and the SELLER shall pay any loss or deficiency sustained forthwith refund all sums heretofore paid by the Lessor BUYER on account of the Premises being let for the remainder purchase price, whereupon all rights and liabilities of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder parties hereto by reason of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences this Agreement shall accrue and be payable monthlyterminate.

Appears in 2 contracts

Sources: Residential Real Estate Sales Agreement, Residential Real Estate Sales Agreement

Default. (a) If default is made Tenant defaults in the prompt payment of any installment of rent on and such default shall continue for three (3) days after notice thereof shall have been given to the due date thereof, Tenant; or if Lessee shall default Tenant defaults in the performance or observance of any other agreement (other than payment provisions of rent) in this Lease Lease, including Exhibit “A” attached, and such other default shall continue for five (other than payment of rent)5) days, continues for ten days after written notice thereof, thereof shall have been given to Tenant; or if the Premises leasehold interest of Tenant be vacated levied upon under execution or abandoned, attached by process of law; or if Tenant abandons the leased Premises; then and in any such event Landlord, if it so elects forthwith, or at any time thereafter while such default continues, either may terminate Tenant’s right to possession without terminating this Lease Lease, or may terminate this Lease. (b) Upon any termination of this Lease, whether by lapse of time or otherwise, or upon any termination of the Tenant’s right to possession without termination of the Lease, the Tenant shall terminatesurrender possession and vacate the Premises immediately and deliver possession thereof to the Landlord. (c) Tenant shall be deemed to have abandoned the Premises if rent is not currently paid and Tenant is absent from the Premises for a period of fifteen (15) days. If the Tenant abandons the Premises or defaults hereunder in any respect or otherwise entitles the Landlord so to elect, and if the Landlord elects to terminate the Tenant’s right to possession only without terminating the Lease, the Landlord may, at the option of the LessorLandlord’s option, and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from into the Premises, changing remove the lock on Tenant’s signs and other evidences of tenancy, and take and hold possession thereof as provided in the door or doors if deemed necessary, if applicablefirst paragraph of this Paragraph 19, without being liable such entry and possession terminating the Lease or releasing the Tenant, in whole or in part, from the Tenant’s obligations to Lessee pay the rent hereunder for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, the full term. Upon and the Lessee expressly agrees, notwithstanding after entry into possession without termination of this Lease and re-entry by the Lessor that Lease, the Lessee shall remain liable for a sum equal to Landlord may relet the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder account of the Term Tenant to any person, firm or corporation other than the Tenant for any longer or shorter period as opportunity may offersuch rent, for such time, and at upon such rental terms as the Landlord, in the Landlord’s sole discretion, shall determine. In any such case, the Landlord may be obtainedmake repairs in or to the Premises, and ▇▇▇▇▇▇ agrees redecorate the same to the extent deemed by the Landlord necessary or desirable and the Tenant shall, upon demand, pay the cost thereof together with the Landlord’s expenses of reletting. If the consideration collected by the Landlord upon any such reletting for the Tenant’s account is not sufficient to pay the difference between sum equal full amount of unpaid rent reserved in this Lease, together with the costs of repairs, alterations, additions, redecorating, and the Landlord’s expenses, the Tenant shall pay to the Landlord the amount of each deficiency upon demand. (d) Tenant shall pay all Landlord’s costs, charges and expenses, including the fees of counsel, agents and other retained by Landlord, incurred in enforcing any of Tenant’s obligations hereunder or incurred by Landlord in any litigation including bankruptcy or insolvency proceeding, negotiation or transaction in which Tenant causes Landlord to become involved or concerned. (e) If Tenant violates any of the terms and provisions of this Lease, or defaults in any of its obligations hereunder, other than the payment of rent or other sums payable hereunder, such violation may be restrained or such obligation enforced by injunction. (f) Tenant agrees that it will promptly pay said rent at the times above stated; that, if any part of the rent remains due and unpaid for three (3) days after notice thereof shall have been given to the Tenant, Landlord shall have the option of declaring the balance of the entire rent payable during the residue term of this Lease to be immediately due and payable, and Landlord may then proceed to collect all of the Term and net unpaid rent received called for by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthly.this Lease by distress or otherwise. TENANT INITIALS /s/ JH 4

Appears in 2 contracts

Sources: Lease Agreement (Iradimed Corp), Lease Agreement (Iradimed Corp)

Default. If default this lease is made terminated in accordance with any of ------- the payment terms herein (with the exception of any installment of rent on the due date thereofParagraph 27), or if Lessee vacates or abandons the Premises or if Lessee shall default in fail at any time to keep or perform any of its covenants or conditions of this lease, i.e. specifically the performance of any other agreement (other than covenant for the payment of rent) in this Lease monthly rent (and such default failure is not cured within ten (other than payment of rent), continues for ten 10) days after written notice thereofthereof by Lessor to Lessee in the case of monetary default and thirty (30) days for all other defaults under the lease), or if the Premises be vacated or abandonedthen, then and in any of such event this Lease shall terminateevents, at the option of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waivedat Lessor's option, and upon without being deemed guilty of trespass and/or without prejudicing any remedy or remedies which might otherwise be used by Lessor for arrearages or preceding breach of covenant or condition of this lease, enter into and repossess said Premises and expel the Lessee and all those claiming under Lessee. In such entry, as aforesaid, this Lease shall terminate and the event Lessor may exclude eject and remove from said Premises all goods and effects (forcibly if necessary). This lease if not otherwise terminated may immediately be declared by Lessor as terminated, provided however, in the case of non-monetary defaults, if the failure is of such a nature that it cannot be completely remedied within such thirty (30) day period, the failure shall not be a default if Lessee from begins correction of the failure within the thirty (30) day period and thereafter proceeds with reasonable diligence to correct the failure as soon as practicable. The termination of this lease pursuant to this Article shall not relieve Lessee of its obligations to make the payments required herein. In the event this lease is terminated pursuant to this Article, or if Lessor enters the Premises without terminating this lease and Lessor relets all or a portion of the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being Lessee shall be liable to Lessee Lessor for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal actionall the reasonable costs of reletting, including necessary renovation and alteration of the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the leased Premises. Lessee shall remain liable for a sum equal all unpaid rental which has been earned plus late payment charges pursuant to Paragraph 21 and for the entire remainder of the term of this lease for any deficiency between the net amounts received following reletting and the gross amounts due from Lessee, or if Lessor elects, Lessee shall be immediately liable for all rent payable and additional rent (Paragraph 19) that would be owing to the end of the Term hereof and term, less any rental loss Lessee proves could be reasonably avoided, which amount shall pay any loss or deficiency sustained be discounted by the Lessor on account discount rate of the Premises being let for the remainder of the original term for a less sum than before. LessorFederal Reserve Bank, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal situated nearest to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairsPremises, recovering possession and reletting the same, which differences shall accrue and be payable monthlyplus one percent (1%).

Appears in 2 contracts

Sources: Annual Report, Office Lease (Cell Therapeutics Inc)

Default. If Tenant further agrees that any one (1) or more of the following events shall be considered events of default as said term is used herein, that is to say, if (a) Tenant shall default in any payments of Rent or in any other payment required to be made by Tenant hereunder when due as herein provided and such default shall continue for ten (10) days after notice thereof in writing to Tenant; or (b) Tenant shall default in any of the other covenants and agreements herein contained to be kept, observed and performed by Tenant, and such default shall continue for thirty (30) days after notice thereof in writing to Tenant, provided, however, if such default is made susceptible to cure but cannot, by the use of reasonable efforts, be cured within thirty (30) days. Landlord shall not exercise any of its remedies hereunder if and so long as (i) Tenant shall commence to cure such default within said thirty (30) day period, and (ii) thereafter Tenant is proceeding to cure such default continuously and diligently and in a manner reasonably satisfactory to Landlord; or (c) Tenant shall abandon the payment Premises during the Term; or (d) If any time during the Term there shall be filed by or against Tenant, or against any successor to Tenant then in possession, in any court pursuant to any petition in bankruptcy, alleging an insolvency, for reorganization, for the appointment of any installment of rent on a receiver, or for an arrangement under the due date thereofBankruptcy Code, or if Lessee a similar type of proceeding shall default be filed, and such proceeding is not dismissed within sixty (60) days; or (e) Tenant shall file or admit the jurisdiction of the court and the material allegations contained in, any petition in bankruptcy, or any petition pursuant or purporting to be pursuant to the performance Federal bankruptcy laws as now or hereafter amended, or Tenant shall institute any proceedings or shall give its consent to the institution of any other agreement proceedings for any relief of Tenant under any bankruptcy or insolvency laws or any laws relating to the relief of debtors, readjustment of indebtedness, reorganization, arrangements, composition or extension, and such proceeding is not dismissed within sixty (other than payment 60) days; or (f) Tenant shall make any assignment for the benefit of rentcreditors or shall apply for or consent to the appointment of a receiver for Tenant or any of the property of Tenant. Upon the occurrence of any one (1) in or more of such events of default, Landlord may at its election terminate this Lease and such default (other than payment or terminate Tenant’s right to possession only, without terminating the Lease. Upon termination of rent), continues for ten days after written notice thereof, or if the Premises be vacated or abandoned, then in any such event this Lease shall terminateor of Tenants right to possession, at the option of the Lessor, and Lessor Landlord may re-enter the Premises (with process of law) using such force as may be necessary, and remove all persons, fixtures, and chattels therefrom and Landlord shall not be liable for any damages resulting therefrom. Upon termination of the Lease, or upon any termination of Tenant’s right to possession without termination of the Lease, Tenant shall surrender possession and vacate the Premises immediately, and deliver possession thereof to Landlord, and hereby grants to Landlord the full and free right, without demand or notice of any kind to Tenant (except as hereinabove expressly provided for), to enter into and upon the Premises in such event (with process of law) and to repossess the Premises as Landlord’s former estate and to expel or remove Tenant and, except as provided in Section 10.1, any others who may be occupying or within the Premises without being deemed in any manner guilty of trespass, eviction, or forcible entry or detainer without incurring any liability for any damage resulting therefrom and without relinquishing Landlord’s right to rent or any other right given to Landlord hereunder or by operation of law. Notwithstanding anything contained herein to the contrary, Landlord shall use reasonable efforts to mitigate its damages in the event of Tenant’s default hereunder. Upon termination of the Lease, Landlord shall, subject to Landlord’s duty to mitigate such damages, be entitled to recover as damages, all Rent and other sums due and payable by Tenant on the date of termination, plus (i) an amount equal to the present value of the Rent and other sums provided herein to be paid by Tenant for the residue of the Term, less the present value of the fair rental value of the Premises for the residue of the Term (such present values to be computed on a per annum discount rate equal to the then current Prime Rate published in the Money Rates Section of The Wall Street Journal), and (ii) the cost of performing any other covenants to be performed by Tenant. If Landlord elects to terminate Tenant’s right to possession only, without terminating the Lease, Landlord may, at Landlord’s option, enter into the Premises, remove Tenant’s signs and other evidences of tenancy, and take and hold possession thereofthereof as hereinabove provided, with without such entry and possession terminating the Lease or without force releasing Tenant, in whole or legal process and without notice in part, from Tenant’s obligations to pay the Rent hereunder for the full Term or demand, the service from any of notice, demand or legal process being hereby expressly waived, and upon such entry, its other obligations under this Lease. Subject to Landlord’s duty to mitigate its damages as aforesaid, this Lease Landlord shall terminate relet all or any part of the Premises for such rent and upon terms as shall be satisfactory to Landlord (including the right to relet the Premises for a term greater or lesser than that remaining under the Term, and the Lessor right to relet the Premises as a part of a larger area, and the right to change the character or use made of the Premises). For the purpose of such reletting, Landlord may exclude Lessee from decorate or make any repairs, changes, alteration or additions in or to the Premises that may be necessary or convenient. If Landlord does not relet the Premises, changing Tenant shall continue to pay to Landlord when due the lock on amount of the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal actionRent, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry other sums provided herein to be paid by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let Tenant for the remainder of the original term for Term. If the Premises are relet and a less sufficient sum than before. Lessorshall not be realized from such reletting after paying all of the expenses of such decorations, as agent for Lesseerepairs, without notice may re-let changes, alterations, additions, the Leased Premises or any part thereof expenses of such reletting and the collection of the Rent accruing therefrom (including, but not by way of limitation, attorneys’ fees and brokers’ commissions), to satisfy the Rent herein provided to be paid for the remainder of the Term or for Term, Tenant shall pay to Landlord on demand the present value (as computed above) of any longer or shorter period as opportunity deficiency and Tenant agrees that Landlord may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees file suit to pay recover any sums failing due under the difference between sum equal terms of this Section 17.1 from time to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlytime.

Appears in 2 contracts

Sources: Ground Lease Agreement, Ground Lease Agreement (CNL Healthcare Properties, Inc.)

Default. If default is made in a. Each of the payment following events shall be a “Lessee Event of Default” under this Lease: i. Lessee shall fail to pay any installment of rent on the due date thereof, hereby reserved or if Lessee shall default in the performance of any other agreement (other than payment of rent) in this Lease charges which are due hereunder as and when the same shall become due and shall not cure such default within seven (other than payment of rent), continues for ten 7) days after written notice thereof is given by Lessor to Lessee; ii. Lessee shall fail to comply with any term, provision or covenant of this Lease, other than the payment of rent or any other charges which are due hereunder, and shall not cure such failure within thirty (30) days after written notice thereof is given by Lessor to Lessee (provided that if such default cannot reasonably be cured within thirty (30) days, then Lessee shall have an additional reasonable period of time (not to exceed ninety (90) days) within which to cure such default); iii. Lessee shall be adjudged insolvent, make a transfer in fraud of creditors or make an assignment for the benefit of creditors; iv. Lessee shall file a petition under any section or chapter of the Bankruptcy Reform Act of 1978, as amended, or under any similar law or statute of the United States or any state thereof, or if Lessee shall be adjudged bankrupt or insolvent in proceedings filed against Lessee thereunder, or v. A receiver or trustee shall be appointed for all or substantially all of the assets of Lessee or Guarantor and Lessee or Guarantor shall not have had such appointment discharged within thirty (30) days after Lessee receives written notices of such appointment. b. Upon the occurrence of any Lessee Event of Default, Lessor shall have the option to pursue any one or more of the following remedies without any notice or demand whatsoever: i. Terminate this Lease, in which event Lessee shall immediately surrender the Premises be vacated or abandoned, then in any such event this Lease shall terminate, at the option of the to Lessor, and if Lessee fails to do so, Lessor may, without prejudiceto any other remedy which it may re-have for possession or arrearages in rent, enter upon and take possession of the Premises and take possession thereof, with expel or without force or legal process remove Lessee and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor any other person who may exclude Lessee from be occupying the Premises, changing the lock on the door or doors any part thereof, by force if deemed necessary, if applicable, without being liable to Lessee prosecution or for any claim for damages (including specifically any liability or duty under Section 93.002 of the Texas Property Code, which is specifically superseded hereby); and Lessee agrees to pay to Lessor on demand the amount of all loss and damage which Lessor may suffer by reason of such termination including without limitation, accrued rent and interest thereon pursuant to this Lease, the reasonable cost of recovering the Premises and the reasonable costs of reletting the Premises (including, without limitation, advertising costs, brokerage fees, leasing commissions, reasonable attorneys’ fees and reasonable refurbishing costs), whether through inability to relet the Premises on satisfactory terms or otherwise; ii. Enter upon and take possession of the Premises (without terminating the Lease) and expel or remove Lessee and other persons who may be occupying the Premises, or any part thereof, by force if necessary, without being liable to prosecution or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer any claim for damages (including specifically any liability or other proper legal actionduty under Section 93.002 of the Texas Property Code, which is specifically superseded hereby), and relet the Premises, as Lessee’s agent, and receive the rent therefore; and Lessee expressly agrees, notwithstanding termination agrees to pay Lessor on demand any deficiency that may arise by reason of this Lease and such reletting. Lessee hereby waives any right to claim damages for such re-entry and repossession, including any rights granted to Lessee by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end Chapter 93 of the Term hereof and shall pay any loss or deficiency sustained by Texas Property Code. In the Lessor on account event of a termination of Lessee’s possession of the Premises being let for the remainder under this Paragraph 13(b) and notwithstanding anything in Section 93.002 of the original term Texas Property Code to the contrary, Lessor shall have no obligation whatsoever to tender to Lessee a key for a less sum new locks installed in the Premises and Lessee shall have no further right to possession of the Premises. The provisions contained in the preceding sentence shall override and control any inconsistent conflicting provisions of Section 93.002 of the Texas Property Code. In the event Lessor shall elect so to relet, then rent received by Lessor from such reletting shall be applied first, to the payment of any indebtedness other than beforerent due hereunder from Lessee to Lessor (in such order as Lessor shall designate), second, to the payment of any cost of such reletting, including, without limitation, reasonable refurbishing costs, reasonable attorneys’ fees, advertising costs, brokerage fees and leasing commissions, and third, to the payment of rent due and unpaid hereunder (in such order as Lessor shall designate). Lessor shall not be responsible or liable for any failure, and Lessee hereby waives any obligation on the part of Lessor, as agent for Lessee, without notice may re-let to relet the Leased Premises or any part thereof or to collect any rent due upon any such reletting. No re-entry or taking of possession of the Premises by Lessor pursuant to this paragraph shall be construed as an election on Lessor’s part to terminate this Lease unless a written notice of such termination is given to Lessee pursuant to paragraph and, notwithstanding any such reletting without termination, Lessor may at any time thereafter elect to terminate this Lease for such previous breach. If Lessor relets the Premises (it being understood and agreed that Lessor shall have no obligation whatsoever to relet the Premises), either before or after the termination of this Lease, for a rental greater than the rent provided in this Lease, then for that portion of the Premises that is subject to such new lease, all such excess rentals shall be and remain the exclusive property of Lessor, and Lessee shall not be, at any time, entitled to recover said excess rental; or iii. Enter upon the Premises, without being liable to prosecution of for any claim for damages, and do whatever Lessee is obligated to do under the terms of this Lease; and the Lessee agrees to reimburse Lessor on demand for any reasonable and necessary expenses which Lessor may incur in thus effecting compliance with Lessee’s obligations hereunder. No repossession of or re-entering upon the Premises or any part thereof pursuant to this Paragraph 13(b) or otherwise and no reletting of the Premises or any part thereof pursuant to this Paragraph 13(b) shall relieve Lessee or any Guarantor of its liabilities and obligations hereunder, all of which shall survive such repossession or re-entering. Pursuant of any of the foregoing remedies shall not preclude pursuit of any of the other remedies herein provided or any other remedies provided by law, nor shall pursuit of any remedy herein provided constitute a forfeiture or waiver of any rent due to Lessor hereunder or of any damage accruing to Lessor by reason of the violation of any of the terms, provisions and covenants herein contained. Forbearance by Lessor to enforce one or more of the remedies herein provided upon the occurrence of a Lessee Event of Default shall not be deemed or construed to constitute a waiver of such default. c. Each of the following events shall be a “Lessor Event of Default” under this Lease: i. Lessor shall fail or refuse to pay any sum of money payable hereunder when due, and the failure or refusal continues for thirty (30) days after written notice thereof is given by Lessee to Lessor; or ii. Lessor shall fail or refuse to comply with any term, provision, or covenant of this Lease, other than provisions for the remainder payment of money, and does not cure the failure or refusal within thirty (30) days after written notice thereof is given by Lessee to Lessor (provided that is such default cannot reasonably be cured within thirty (30) days, then Lessor as the case may be, shall have an additional reasonable period of time within which to cure such default). d. Upon the occurrence of any Lessor Event of Default, Lessee shall have the option to pursue any one or more of the Term following remedies without any notice or for demand whatsoever: i. Cure the Lessor Event of Default and in connection therewith pay or incur reasonable expenses. Notwithstanding the foregoing, Lessee shall not have such right to cure a Lessor Event of Default set forth in Paragraph 13(c)(ii) in the event Lessor or their mortgagee takes action to cure such default within the cure period therein provided, but is unable, by reason of the nature of the work involved, to cure the same within such period, provided Lessor or their mortgagee (whoever commences such work) continues such work thereafter diligently and without unnecessary delays. Additionally, Lessee shall have the right to remedy any longer default of an emergency nature, in the event Lessor or shorter period as opportunity may offertheir morrgagee fails to commence to cure any default creating an emergency situation promptly upon being given notice which is reasonable under the circumstances, and at Lessee shall have the right to remedy such rental as may a default without notice (if the giving of notice is not reasonably practicable) in the event of an emergency. All sums so expended or obligations incurred by Lessee in connection with the foregoing, shall be obtainedpaid by Lessor to Lessee within five (5) days after demand. Pursuant to any of the foregoing remedies shall not preclude pursuit of any of the other remedies provided by law, and ▇nor shall pursuit of any remedy herein provided constitute a forfeiture or waiver of any damage accruing to Lessee by ▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term violation of any of the terms, provisions, and net rent received covenants herein contained. Forbearance by Lessee to enforce one or more of the remedies herein provided upon the occurrence of a Lessor during the Term after deducting all expenses Event of every kind for repairs, recovering possession and reletting the same, which differences Default shall accrue and not be payable monthlydeemed or construed to constitute a waiver of such default.

Appears in 2 contracts

Sources: Ground Lease Agreement (Biofuels Power Corp), Ground Lease Agreement (Biofuels Power Corp)

Default. If (a) Each of the following shall constitute an Event of Default hereunder: (i) if Sublessee shall fail to pay when due any Rent and Sublessee shall fail to remedy such default is made in the payment of any installment of rent on the due date thereof, within five (5) business days after written notice thereof has been given to Sublessee by Sublessor or if Lessee Sublessee shall fail to pay when due any other amount Sublessee may be required to pay hereunder and Sublessee shall fail to remedy such default within thirty (30) days after written notice thereof has been given to Sublessee by Sublessor; or (ii) if Sublessee shall default in the observance or performance of any other agreement term, covenant or condition of this Sublease on Sublessee's part to be observed, performed or complied with (other than the payment of rentRent and other amounts payable hereunder) in this Lease and Sublessee shall fail to remedy such default within thirty (other than payment of rent), continues for ten 30) days after written notice thereofto cure, or or, if the Premises such default is of such a nature that for reasons beyond Sublessee's control it cannot be vacated or abandonedcompletely remedied within said period of thirty (30) days, then in if Sublessee (A) shall not promptly institute and thereafter diligently prosecute to completion all steps necessary to remedy the same and (B) shall not remedy the same within a reasonable time after the date of default. (b) Upon the occurrence of any such event this Lease shall terminateEvent of Default, Sublessor may, in addition to exercising any other available rights or remedies, give to Sublessee notice of its intention to end the Term at the option expiration of three (3) days from the date of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service giving of such notice, demand or legal process being hereby expressly waivedand, and upon in the event such entry, as aforesaidnotice is given, this Lease Sublease and the Term and estate hereby granted shall terminate upon the expiration of said three (3) days with the same force and effect as if that day were the Lessor may exclude Lessee from the PremisesExpiration Date, changing the lock on the door or doors if deemed necessaryprovided, if applicablehowever, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, that Sublessor and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee Sublessee shall remain liable for a sum equal the performance of their respective obligations hereunder which survive the termination of this Sublease and for damages as provided in this Sublease. 10.2. In no event shall Sublessor or Sublessee be entitled to the entire rent payable special or consequential damages with respect to the end of the Term hereof and shall pay any loss matter arising hereunder or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyrelating hereto.

Appears in 2 contracts

Sources: Sublease (Ryder TRS Inc), Sublease (Ryder TRS Inc)

Default. If default is made in a. It shall be an Event of Default upon the payment happening of any installment of rent on the following: i. Sublessee fails to pay any Rent hereunder and such failure continues for five (5) days after Sublessee’s receipt of written notice thereof from Sublessor to Sublessee; ii. Sublessee fails to pay any other amount due date thereoffrom Sublessee hereunder for which Sublessee has received written notice from Sublessor that such amount is due, and such failure continues for ten (10) days after Sublessee’s receipt of written notice of such failure to pay from Sublessor to Sublessee; iii. Sublessee fails to perform or if Lessee observe any other material covenant or agreement set forth in this Sublease and such failure continues for thirty (30) days after Sublessee’s receipt of written notice thereof from Sublessor to Sublessee (it being intended in connection with a default not susceptible of being cured with due diligence within said thirty (30) day period that the time allowed Sublessee within which to cure same shall be extended for such period as may be necessary to complete same with all due diligence); or iv. Any other event occurs that involves Sublessee or is caused by Sublessee within the Subleased Premises and with regard to which (y) Sublessor has received notice from Master Landlord that the same constitutes a default in under the performance Master Lease, and (z) Sublessor has provided Sublessee with a copy of such written default notice from Master Landlord, and Sublessee fails to cure such default as claimed by Master Landlord before that default matures into an Event of Default under the Master Lease, but only to the extent that Sublessee is responsible for the event giving rise to Master Landlord’s default notice. b. It shall be an Event of Sublessor Default upon the happening of any of the following: i. Sublessor fails to pay timely any Rent, Operating Expenses, Real Estate Taxes, Code Costs or other agreement (other than payment of rent) in this amounts due and payable under the Master Lease and such default (failure becomes an Event of Default under the Master Lease; ii. Sublessor fails to perform or observe any other than payment covenant or agreement set forth in the Master Lease and such failure becomes an Event of rent), Default under the Master Lease; or iii. Sublessor fails to perform or observe any covenant or agreement set forth in this Sublease and such failure continues for ten thirty (30) days after written notice thereof, or if the Premises be vacated or abandoned, then thereof from Sublessee to Sublessor (it being intended in any such event this Lease shall terminate, at the option connection with a default not susceptible of the Lessor, and Lessor may re-enter the Premises and take possession thereof, being cured with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor due diligence within said thirty (30) day period that the Lessee time allowed Sublessor within which to cure same shall remain liable be extended for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter such period as opportunity may offer, and at such rental as may be obtainednecessary to complete same with all due diligence). c. If there shall be an Event of Default by Sublessee or an Event of Sublessor Default by Sublessor (“Defaulting Party”), then Sublessor or Sublessee, respectively, as the case may be (“Non-Defaulting Party”), may exercise all rights and remedies available to it at law or in equity including, without limitation, all rights and remedies afforded the Master Landlord under the Master Lease. If the Defaulting Party fails or refuses to make any payment or perform any covenant or agreement to be performed hereunder, the Non-Defaulting Party may make such payment or undertake to perform such covenant or agreement (but shall not have any obligation to do so). In such event, any actual and reasonable amounts so paid or incurred by the Non-Defaulting Party including, without limitation, all costs, expenses and reasonable attorneys’ fees (collectively “Cure Costs”), shall be immediately due and payable by the Defaulting Party to the Non-Defaulting Party. If Sublessee is the Defaulting Party, Cure Costs shall be deemed to be Rent, and ▇▇▇▇▇▇ agrees if Sublessor is the Defaulting Party, Sublessee shall be entitled to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyoffset its Cure Costs against Rent.

Appears in 2 contracts

Sources: Sublease Agreement (Titan Pharmaceuticals Inc), Sublease Agreement (Anesiva, Inc.)

Default. (a) A default under this Lease by Lessee shall exist if any of the following occurs (each, an “Event of Default”): (1) If default is made in the payment of Lessee fails to pay any installment of rent on the due date thereofMonthly Base Rent, Additional Rent, or if Lessee shall default in the performance of any other agreement sum required to be paid hereunder when due which failure continues uncured for a period of three (other than payment of rent3) in this Lease and such default (other than payment of rent), continues for ten days after written notice thereof; (2) If Lessee fails to perform any term, covenant or condition of this Lease except those requiring the payment of money, and Lessee fails to cure such breach within thirty (30) days after written notice from Lessor where such breach could reasonably be cured within such thirty (30) day period; provided, however, that where such failure could not reasonably be cured within the thirty (30)) day period; that Lessee shall not be in default if Lessee commences such performance within the thirty (30)) day period and diligently thereafter prosecutes the same to completion; (3) If Lessee’s interest in this Lease is assigned or transferred, either voluntarily or by operation of law (except as expressly permitted by other provisions of this Lease); (4) If Lessee assigns its assets for the benefit of its creditors; or (5) If a court makes or enters any decree or order other than under the bankruptcy laws of the United States adjudging Tenants to be insolvent; or approving as properly filed a petition seeking reorganization of Tenants; or directing the winding up or liquidation of Tenants and such decree or order shall have continued for a period of sixty (60) days. (b) In the Event of a Default by Lessee, Lessor may terminate this Lease and remove ail persons and property therefrom and Lessor may recover from Lessee: (1) the worth at the time of award of the unpaid rent which had been earned at the time of termination, including interest thereon at the maximum lawful rate from the time of termination until paid; (2) the worth at the time of award of 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 Lessee proves could have been reasonably avoided, including interest thereon at the maximum lawful rate from the time of termination until paid; (3) the worth at the time of award of the amount by which the unpaid rent for the balance of the term after the time of award exceeds the amount of such rental loss for the same period that Lessee proves could be reasonably avoided, computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%); and (4) any other amount necessary to compensate Lessor for all the detriment proximately caused by Lessee’s failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom. (c) If Lessor does not take possession of the Premises be vacated or abandonedterminate Lessee’s right to occupy the Premises, then in any such event this Lease shall terminate, at the option of the Lessor, continue in effect for so long as Lessor does not terminate Lessee’s right to possession and Lessor may re-enter enforce all of its rights and remedies under this Lease, including the Premises right to recover the rent and take possession thereof, with or without force or legal process other sums due from Lessee hereunder as and without notice or demandwhen due. For the purposes of this Paragraph 22, the service following do not constitute a repossession of notice, demand the Property by Lessor or legal process being hereby expressly waived, and upon such entry, as aforesaid, this a termination of the Lease shall terminate and by Lessor: (1) acts of maintenance or preservation by Lessor or efforts by Lessor to relet the Property; or (2) the appointment of a receiver by Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; protect Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of interests under this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyLease.

Appears in 2 contracts

Sources: Lease (SITIME Corp), Lease (SITIME Corp)

Default. If default is made in Upon the payment occurrence of any installment of rent on the due date thereof, or if Lessee shall default in the performance of any other agreement (other than payment of rent) in this Lease and such default (other than payment of rent), continues for ten days after written notice thereof, or if the Premises be vacated or abandoned, then in any such event this Lease shall terminate, at the option of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service following events ("Events of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease Default"): (a) Pledgor shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable fail to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises (i) all or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and principal of the ▇▇▇▇▇▇ agrees Indebtedness or the Peipert Indebtedness when due in accordance with the terms thereof, or (ii) any interest on the ▇▇▇▇▇▇ Indebtedness or the Peipert Indebtedness, and in both instances such default shall continue unremedied for a period of ten (10) Business Days; provided, however, that Pledgor shall have the right to pay withhold any payment of principal or interest in accordance with Sub-Section 8.03 of the difference between sum equal Merger Agreement; or (b) Pledgor shall default in the observance or performance of any other provision contained in this Agreement or in the ▇▇▇▇▇▇ Note or the Peipert Note, and such default shall continue unremedied for a period of thirty (30) Business Days after Pledgor has received a written notice of such default from the appropriate Pledgee; or (c) If the Pledgor files or consents to the filing of any petition in bankruptcy or for other relief under any bankruptcy law or law for the relief of debtors, or is adjudicated insolvent, which adjudication is not shown or dismissed within thirty (30) Business Days after the date thereof, or makes an assignment to its creditors, or a receiver or a similar person is appointed with respect to the Pledgor's assets, which appointment is not stayed within thirty (30) Business Days after the date thereof; then, and in any such event, either Pledgee by written notice to Pledgor may declare the full amount of rent payable during the residue of ▇▇▇▇▇▇ Indebtedness or the Term Peipert Indebtedness then outstanding, with accrued interest thereon and net rent received by all other amounts owing under this Agreement, to be immediately due and payable; provided, however, that if ▇▇▇▇▇ or Pledgor is in default with respect to the Lessor during ▇▇▇▇▇▇ Indebtedness and the Term after deducting all expenses of every kind for repairsPeipert Indebtedness, recovering possession then such Pledgee shall not be entitled to make such declaration unless and reletting until the sameother Pledgee has declared the ▇▇▇▇▇▇ Indebtedness or the Peipert Indebtedness, which differences shall accrue as the case may be, to be due and be payable monthlypayable.

Appears in 2 contracts

Sources: Merger Agreement (Elligent Consulting Group Inc), Merger Agreement (Elligent Consulting Group Inc)

Default. If default Lessee (a) shall fail to pay the said rent or any part thereof promptly when due, whether or not notice or demand has been given or made by Lessor, or (b) shall fail to pay any other sum due Lessor under the terms of this lease within ten (10) days after notice by Lessor, or (c) shall fail to faithfully observe or perform any of the other covenants or agreements herein contained and on the part of Lessee to be observed and performed within thirty (30) days after notice of breach thereof or such longer period of time as is made reasonably necessary if Lessee commences such cure within said thirty (30) days and thereafter diligently prosecutes the same, or (d) shall become bankrupt, go into receivership, or make an assignment for the benefit of creditors, or take or have taken against Lessee any proceedings of any kind under any provisions of the Federal Bankruptcy Act, or (e) shall abandon the premises, or (f) if this lease or any estate of Lessee hereunder shall be sold under any attachment or execution, then and in any such event Lessor may at once reenter the premises by means of a pass key or otherwise, with or without process of law, with or without notice to Lessee and with or without terminating this lease and may upon such entry remove from said premises all persons and property and use all necessary force therefor, and in all respects take the actual, full and exclusive possession of said premises and every part thereof without incurring any liability to Lessor or to any persons occupying or using said premises for any damage sustained by reason of such entry upon said premises or such removal of persons or property therefrom; and Lessee shall indemnify and save harmless Lessor from all cost, loss or damage whatsoever arising or occasioned thereby. Upon or without such entry, Lessor may, in the event of any such default, at its option terminate this lease and/or bring suit for summary possession against Lessee without prejudice to any other remedy or right of action for arrears of rent or for any preceding or other default. Should Lessor elect to reenter, as herein provided, or should they take possession pursuant to legal proceedings or pursuant to any notice provided by law, they may either terminate this lease or they may from time to time, without terminating this lease, relet the premises or any part thereof for a term or terms (which need not be the same as the remaining portion of the term of this lease) and at such rental or rentals and upon such other terms and conditions as Lessor in its reasonable discretion may deem advisable, with the right to make such alterations and repairs to the premises as may be reasonably necessary to relet. Upon each such reletting (a) Lessee shall be immediately liable to pay to Lessor, in addition to any indebtedness other than rent due hereunder, the cost and expense of such reletting and of such alterations and repairs, incurred by Lessor, and the amount, if any, by which the rent reserved in this lease for the period of such reletting (up to but not beyond the term of this lease) exceeds the amount agreed to be paid as rent for the premises for such period on such reletting; or (b) at the option of Lessor rents received from such reletting shall be applied: first, to the payment of any installment indebtedness other than rent due hereunder from Lessee to Lessor; second, to the payment of attorneys’ fees and real estate commissions paid and all other costs and expenses of such reletting and of such alterations and repairs; third, to the payment of rent on due and unpaid hereunder and the residue, if any, shall be held by Lessor and applied in payment of future rent as the same may become due date thereofand payable hereunder, otherwise such residue shall be the sole property of Lessor. If Lessee has been credited with any rent to be received by such reletting under option (a), and such rent shall not be promptly paid to Lessor by the new tenant, or if such rentals received from such reletting under option (b) during any month be less than that to be paid during that month by Lessee shall default in the performance of any other agreement (other than payment of rent) in this Lease and such default (other than payment of rent)hereunder, continues for ten days after written notice thereof, or if the Premises be vacated or abandoned, then in any such event this Lease shall terminate, at the option of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss such deficiency to Lessor. Such deficiency shall be calculated and paid monthly. No reentry or deficiency sustained by the Lessor on account taking possession of the Premises being let premises by Lessor shall be construed as an election on their part to terminate this lease unless a written notice of such intention be given to Lessee or unless the termination hereof be decreed by a court of competent jurisdiction. Notwithstanding any such reletting without termination, Lessor may at any time thereafter elect to terminate this lease for such previous default. Should Lessor at any time terminate this lease for any default, they may recover from Lessee all damages they may incur by reason of such default, including the cost of recovering the 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 lease for the remainder of the original stated term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let over the Leased Premises or any part thereof then reasonable rental value of the premises for the remainder of the Term stated term, all of which amounts shall be immediately due and payable from Lessee to Lessor. In determining the rental which would be payable by Lessee hereunder, subsequent to default, the rental for the unexpired term shall be computed pro rata upon the basis of the average aggregate rentals paid for the expired portions of the term of this lease, or the thirty-six (36) months next preceding such default, whichever period is the shorter. The foregoing remedies of Lessor shall not be exclusive but shall be cumulative and in addition to all other remedies now or hereafter allowed by law or elsewhere provided for. Nothing herein contained shall limit or prejudice Lessor’s right to prove and obtain as damages arising out of any default or termination of this lease the maximum allowed by law. Lessee hereby irrevocably appoints Lessor as agents and attorneys-in-fact of Lessee to enter upon the premises in the event of any default by Lessee and to remove any personal property situated upon the premises and to place such property in storage for any longer or shorter period as opportunity may offerthe account of, and at the expense of Lessee. In the event that Lessee shall not pay the cost of storing any such rental property after the property has been stored for a period of thirty (30) days or more, Lessor may sell any or all of such property at public or private sale in such manner and at such times and places as Lessor in its sole discretion may deem proper, without notice to Lessee or any demand upon Lessee for the payment of any part of such charges or the removal of any of such property, and shall apply the proceeds of such sale first to the cost and expenses of such sale, including attorneys’ fees actually incurred; second, to the payment of the costs of or charges for storing any such property; third, to the payment of any other sums of money which may then or thereafter be due Lessor from Lessee under any of the terms thereof; and, fourth, the balance, if any, to Lessee. Lessee hereby waives all claims for damages that may be obtainedcaused by Lessor’s removing and storing furniture and property, as herein provided, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal will save Lessor harmless from loss, costs or damages occasioned Lessor thereby. Any other provision in this Lease to the amount contrary notwithstanding, in the event of rent payable during termination or reentry due to Lessee’s default hereunder, Lessor shall be obligated to use reasonable efforts to relet the residue of the Term premises and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyto mitigate damages.

Appears in 2 contracts

Sources: Building Lease (Virtual Radiologic CORP), Building Lease (Virtual Radiologic CORP)

Default. If BUYER is in material default hereunder, or, on or before the date of closing as set forth herein, indicates that BUYER is made unable or unwilling to perform and SELLER stands ready to perform SELLER's obligations, SELLER's sole and exclusive remedy shall be the right to terminate this Agreement by written notice to BUYER or BUYER's attorney and retain the deposit as reasonable liquidated damages for BUYER's inability or unwillingness to perform. It is the intention of the parties hereto freely to make advance provision on the date of this Agreement for such event in order (a) to avoid controversy, delay and expense, and (b) to specify now a reasonable amount agreeable to both for compensation to the SELLER for losses which may not be readily ascertainable or quantifiable, such as any of the following which might be necessary to place SELLER in the payment position SELLER would have been in had BUYER made timely performance: costs of carrying, maintaining, insuring and protecting the property; loss of interest income on the proceeds; loss of optimum market time, value and conditions; the uncertainty, delay, expense and inconvenience of finding a substitute buyer; additional commissions, fees, taxes and borrowing expenses to meet obligations entered into in anticipation of performance. In such event and upon SELLER's written notice of termination, the Premises shall be free of any installment of rent on the due date thereof, claims or if Lessee shall default in the performance of any other agreement (other than payment of rent) in this Lease and such default (other than payment of rent), continues for ten days after written notice thereof, or if the Premises be vacated or abandoned, then in any such event this Lease shall terminate, at the option interest of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced BUYER therein by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination virtue of this Lease and re-entry by Agreement. In no event shall the Lessor that closing take place later than the Lessee shall remain liable for a sum equal date of closing set forth in Paragraph 4 hereof, subject to the entire rent payable to provisions of Paragraphs 6 and 11. In the event the closing has not taken place by the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account said period, through no fault of the Premises being let for non-delaying party, the remainder of the original term for a less sum than beforedelaying party shall be deemed in default. LessorIf SELLER defaults hereunder, BUYER shall have such remedies as agent for LesseeBUYER shall be entitled to at law or in equity, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offerincluding, and at such rental as may be obtainedbut not limited to, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyspecific performance.

Appears in 2 contracts

Sources: Real Estate Purchase and Sale Agreement, Real Estate Purchase and Sale Agreement

Default. (a) If default is made in by the payment date set for a respective Closing, Seller has fulfilled all of any installment of rent on the due date thereof, or if Lessee shall default in the performance of any other agreement Seller’s obligations hereunder (other than payment any withheld in accordance with Section 14) and all of rent) Purchaser’s conditions precedent to closing have been satisfied or waived in this Lease and such default writing by Purchaser (other than payment of rentany performance by Seller withheld in accordance with Section 14), and Purchaser, without lawful excuse, fails to fulfill its obligations hereunder and continues to fail and refuse to fulfill Purchaser’s obligations hereunder for ten more than five (5) days after receipt of written notice thereofof such default from Seller, Seller may either: (i) terminate this Agreement; or (ii) seek specific performance of this Agreement in a court of competent jurisdiction. (b) If by the date set for a respective Closing, Purchaser has fulfilled all of Purchaser’s obligations hereunder (other than any withheld in accordance with Section 13) and all of Seller’s conditions precedent to Closing have been satisfied or waived in writing by Seller (other than any performance by Purchaser withheld in accordance with Section 13), and Seller, without lawful excuse, fails to fulfill Seller’s obligations hereunder for more than five (5) days after receipt of written notice of such default from Purchaser, Purchaser may either: (i) terminate this Agreement; or (ii) seek specific performance of this Agreement in a court of competent jurisdiction. (c) Notwithstanding anything else to the contrary herein, if before or after Seller gives Purchaser notice that the Premises be vacated or abandonedPad Site is in Pad-Ready Condition the Purchaser notifies Seller that Purchaser has elected not to enter into a Recreation Center Construction Contract (as that term is defined in the Development Agreement) by the latest date specified for the Closing Date herein, then this Agreement shall automatically terminate and, in addition to any obligations Purchaser may have under the Development Agreement, within thirty (30) days after Seller notifies Purchaser of the amount payable by Seller to Bliss Sports II or third parties for causing the Pad Site to be in Pad-Ready Condition (limited to the out of pocket expenses of Bliss Sports II or such a third party plus percent ( %))(the “Pad Site Ready Improvement Amount”), Purchaser will pay such amount to Seller, together with its out of pocket expenses for the Commitment and copies of exception documents. Upon reasonable request, will provide Purchaser with access to the Seller’s, Bliss Sports II’s and any such event this Lease shall terminate, at third party’s books and records evidencing the option of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyPad Site Ready Improvement Amount.

Appears in 2 contracts

Sources: Development Agreement, Development Agreement

Default. If default is made in the payment A. The occurrence of any installment one or more of rent on the following events shall constitute a default hereunder by TENANT (an "Event of Default"): 1. If Base Rent or Additional Rent is not paid within five (5) days after it is due date thereof, or if Lessee and payable; 2. If TENANT shall have failed to cure a default in the performance of any of the other agreement terms, covenants or provisions of this Lease (other than except payment of rent) in this Lease and such default or any rule or regulation hereinafter set forth within fifteen (other than payment of rent), continues for ten 15) days after written notice thereof, or if the Premises such default is of a nature that it cannot be vacated or abandoned, then in any such event this Lease shall terminate, at the option of the Lessorcompletely remedied within said fifteen (15) day period, and Lessor TENANT shall not commence within said fifteen (15) days and shall not thereafter diligently procure to completion all steps necessary to remedy such default; 3. If a petition in bankruptcy shall be filed by or against TENANT or if TENANT shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; 4. If a receiver or trustee is appointed for any portion of TENANT's property and such appointment is not vacated within sixty (60) days; 5. If an execution or attachment shall be issued under which the Demised Premises shall be taken or occupied or attempted to be taken or occupied by anyone other than TENANT; 6. If the Demised Premises become and remain vacant, deserted or abandoned for a period of thirty (30) consecutive days; 7. If the Demised Premises are used for some purpose other than the use specifically authorized herein. B. If TENANT shall default in performing any covenant or condition of this Lease, LANDLORD may re-enter perform the Premises and take possession thereof, with or without force or legal process and without notice or demand, same for the service account of notice, demand or legal process being hereby expressly waivedTENANT, and upon such entry, as aforesaid, this Lease TENANT shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee reimburse LANDLORD for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, expense incurred therefor as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyadditional rent.

Appears in 2 contracts

Sources: Lease Agreement (Intelligent Life Corp), Lease Agreement (Intelligent Life Corp)

Default. If default is made (a) In the event that Buyer defaults in its obligation to close under this Agreement, and fails to cure the payment same within ten (10) business days following receipt of any installment of rent on the due date thereofwritten notice, or if Lessee shall default in the performance of any other agreement (other than payment of rent) in Seller may, as its sole and exclusive remedy, terminate this Lease and such default (other than payment of rent), continues for ten days after Agreement by providing written notice thereofto Buyer, or if the Premises in which event Seller shall be vacated or abandoned, then in any such event this Lease shall terminate, at the option entitled to a disbursement of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees Money (including the Non-refundable EMD) and Extension EMD (if made) as liquidated damages. Upon such termination, neither Buyer nor Seller shall have any further rights, obligations or liabilities under this Agreement, except as otherwise expressly provided herein. The Parties acknowledge that the ▇▇▇▇▇▇▇ Money is fair and equitable and that it would be impossible to pay accurately determine Seller’s damages in the difference between sum equal event of Buyer’s default. Seller waives the right to exercise any and all other rights or remedies available at law or in equity, except in connection with ▇▇▇▇▇’s indemnification obligations as set forth in Sections 6 and 21 herein, or to any obligations that survive Closing or termination of this Agreement, which may be enforced by any remedy available at law or in equity. (b) In the event of Seller’s default of any of its obligations in this Agreement which Seller fails to cure within ten (10) business days following receipt of written notice, Buyer may: (i) waive such default and proceed to Closing without any reduction in or setoff against the Purchase Price; (ii) seek to enforce specific performance of Seller’s obligations under this Agreement; or (iii) terminate this Agreement by providing written notice to Seller and receive back the full amount of rent payable during ▇▇▇▇▇▇▇ Money, including the residue Non-refundable EMD, and Extension EMD (if made), in which event Buyer may pursue any and all rights and remedies available at law or in equity. Upon such termination, neither Buyer nor Seller shall have any further rights, obligations or liabilities hereunder, except as otherwise expressly provided herein. Notwithstanding the foregoing, in the event of the Term a willful or intentional default of Seller hereunder, and net rent received by the Lessor during the Term after deducting provided specific performance is not an available remedy, Buyer may pursue any and all expenses of every kind for repairs, recovering possession rights and reletting the same, which differences shall accrue and be payable monthlyremedies available at law or in equity.

Appears in 2 contracts

Sources: Purchase and Sale Agreement, Purchase and Sale Agreement

Default. If If: (i) there shall be a default is made in the payment of any installment Rental which shall continue for a period of rent on the due date thereof, ten (10) days following receipt by Tenant of notice thereof from Landlord; or if Lessee (ii) there shall be a default in the performance of any other agreement (other than payment of rent) in this Lease and such default (other than payment of rent), continues for ten days after written notice thereof, Tenant's obligations hereunder or if the Premises be abandoned or vacated by Tenant; and if such default or abandonedcondition shall continue for a period of thirty (30) days following receipt by Tenant of notice from Landlord to make good such default or correct such condition; or (iii) any proceedings under the present or any future Bankruptcy Act be instituted by or against Tenant, then in or any receiver or trustee be appointed for or ordered to dispose of Tenant's business or property, or if Tenant makes any assignment or conveyance for benefit of creditors and if any such event this Lease proceeding instituted against Tenant shall terminatenot be dismissed within 20 days following the date of such institution; then, at the option of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may Landlord shall have the right, immediately or at any time thereafter, to enter upon the Premises in the name of the whole and repossess the same as of its former estate and expel Tenant and all those claiming by, through or under it, and remove their goods and effects and store the same on behalf of Tenant without being deemed guilty of any manner of trespass and without prejudice to any remedies which might otherwise be enforced by action in unlawful detainer used for arrears of rent or other proper legal actiondefault hereunder and upon entry as aforesaid this Lease Agreement shall be terminated. Landlord, at its election, may effect such termination by written notice to Tenant to that effect, which shall have the same force as an entry for breach as provided in this Section. In case of such termination, Landlord shall become entitled to receive from Tenant, and the Lessee expressly agreesTenant shall pay to Landlord on demand, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for as initial liquidated damages, a sum equal to the entire rent payable to amount by which the end sum of the Term hereof rent and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let other payments called for hereunder for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let exceeds the Leased fair rental value of the Premises or any part thereof for the remainder of the Term or term. Further, Tenant shall, on demand of Landlord, from time to time indemnify Landlord against all loss of rent, other payments and damages, however caused, which it may incur by reason of such termination during the remainder of the term, first giving credit to any payments made by Tenant to Landlord on account of initial liquidated damages as aforesaid. In computing such damages there shall be added such reasonable expenses as Landlord may incur in connection with such termination and/or reletting, such as legal expenses, brokerage, expenses for any longer or shorter period keeping the Premises in good order and for preparing the same for reletting and expenses and/or decorations in the Premises as opportunity may offer, way be necessary for the purpose of reletting. Landlord shall also have the right to pursue such other rights and at such rental remedies as may be obtainedallowed at law or equity against Tenant, and ▇▇▇▇▇▇ agrees any and all other parties who may be liable. All such remedies shall be cumulative. Provided, however, if any such default be under clause (ii) above and it would take more than thirty (30) days to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting cure the same, which differences Landlord shall accrue not forfeit the lease created hereby, enter upon the Premises or exercise any of the other remedies herein provided for such default if Tenant begins the cure thereof within such period and be payable monthlypursues same with reasonable due diligence to completion.

Appears in 2 contracts

Sources: Lease Agreement (Spire Corp), Lease Agreement (Spire Corp)

Default. (a) If default is made in the payment of Lessee shall fail to pay any installment of rent on rent, additional rent, or other monies due under this Lease within fifteen (15) days after the due date thereof; or shall fail to duly and timely perform any other term, covenant, condition or provision of this Lease required to be performed; or if Lessee shall default become bankrupt or insolvent, or file any debtor proceedings, or take or have taken against Lessee in any court pursuant to any statute either of the performance United States or of any other agreement (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 property; or shall make an assignment for the benefit of creditors, or petition for or enter into an arrangement, or suffer this Lease to be taken under any writ of execution or attachment; or if this Lease shall pass to or devolve upon, by law or otherwise, one other than payment of rent) Lessee except as otherwise provided for in this Lease and such default (other than payment of rent), continues for ten days after written notice thereof, or if the Premises be vacated or abandonedLease, then in any one or more of such event this Lease shall terminateevents, upon Lessor serving a written five (5) day notice of default upon Lessee specifying the nature of said default and if, at the option expiration of said five (5) day period, Lessee shall have failed to cure the default then, Lessor may give Lessee a three (3) day notice of cancellation of this Lease and at the expiration of such three (3) day period, this Lease and the term hereunder shall terminate and come to an end of the Lessordate specified in such notice of cancellation, and Lessee shall quit and surrender the demised premises to Lessor as if the term hereunder ended by expiration of the time fixed herein. In such event, however, Lessee shall remain liable to Lessor for all monies as hereinafter provided. (b) If the notices provided shall have been given and the term shall expire as aforesaid; or should Lessor elect to terminate this Lease, Lessor shall have the immediate right of reentry 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 Lessee, all without service of notice or resorting to legal process (which notice Lessee hereby expressly waives) and without being deemed guilty of trespass, or becoming liable for any loss or damage which may be occasioned thereby. Lessor shall have a lien for the payment of all sums agreed to be paid by Lessee herein upon all Lessee's property, which is to be in addition to any lien in Lessor's favor now or hereafter provided for by law. (c) Should Lessor elect to re-enter the Premises and demised premises or take possession thereofpursuant to legal proceedings or pursuant to any notice provided for by law, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from make such alterations and repairs as Lessor may in Lessor's sole discretion deem necessary in order to relet the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution thereforpremises; Lessor’s rights in such event and Lessor may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises relet said premises or any part thereof for such term or terms (which may be for a term extending beyond the remainder term of the Term or for any longer or shorter period as opportunity may offer, this lease) and at such rental commercially reasonable rentals and upon such other terms and conditions as Lessor in its sole discretion may deem advisable. Upon each such reletting, all rentals received by Lessor from such reletting shall be obtainedapplied first to the payment of any indebtedness other than rent due hereunder from Lessee to Lessor; second, to the payment of any reasonable costs and expenses of such reletting, including brokerage fees and attorney's fees and the cost of alterations and repairs; third, to the payment of rent and additional rent due and unpaid hereunder; and the residue, 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 be less than that to be paid during that month by Lessee hereunder, Lessee shall pay any such deficiency to Lessor. Such deficiency shall be paid on demand. (d) In the event of any default on the part of Lessee which shall result in the bringing of any action or proceeding by Lessor, whether to recover possession of the premises or otherwise, all sums due and owing to Lessor on account of rent, additional rent, accelerate rent, minimum rent, or otherwise under this Lease, together with all costs, disbursements, expenses and reasonable attorney's fees incurred by Lessor, shall be recoverable by Lessor in such action or proceeding or in any other action or proceeding brought by Lessor, in Lessor's sole discretion. In addition, all costs, disbursements, expenses and reasonable attorney's fees incurred by Lessor in successfully defending any action or proceeding brought by Lessee or by any third party as a result of any act of Lessee, shall likewise be recoverable by Lessor. (e) The parties waive trial by jury in any action, proceeding or counterclaim brought by either of the parties hereto against the other on any matters whatsoever arising out of or in any way connected with this Lease, the relationship of Lessor and Lessee, and ▇▇▇▇▇▇ agrees Lessee's use of occupancy of the demised premises except in claims for personal injury or property damage. (f) Lessee hereby expressly waives any and all rights to pay redemption granted by or under any present or future laws in the difference between sum equal event of Lessee being evicted or dispossessed for any cause, or in the event of Lessor obtaining possession of the demised premises, by reason of the violation by Lessee of any of the provisions of this Lease. (g) In the event of a breach or threatened breach by Lessee of any provision of this Lease, Lessor shall have the right of injunction separate and apart from all other rights and remedies provided for in this Lease and/or under the law. (h) The rights and remedies given to Lessor in this Lease are distinct, separate and cumulative remedies, and the exercise of any of them shall not be deemed to exclude Lessor's right to exercise any or all of the others. (i) This paragraph shall apply to any renewal or extension of this Lease; and if Lessee shall default hereunder prior to the amount date fixed as the commencement of rent payable during any renewal or extension of this Lease, to which the residue of the Term and net rent received by the parties may hereafter agree, Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlymay cancel such renewal or extension agreement on two (2) days' written notice to Lessee.

Appears in 2 contracts

Sources: Office Lease (American Portfolios Holdings Inc), Office Lease (American Portfolios Holdings Inc)

Default. If 20.1 With respect to all payments required to be made by WORLDCOM hereunder, WORLDCOM shall be in default hereunder if such payment is made in the payment of any installment of rent not paid on the date due date thereof, or if Lessee shall default in the performance of any other agreement (other than payment of rent) in this Lease and such default (other than payment of rent), continues for ten days after written notice thereof, or if the Premises be vacated or abandoned, then in any such event this Lease shall terminate, at the option of the Lessorpayable hereunder, and Lessor may re-enter the Premises from and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon after such entry, as aforesaid, this Lease date such unpaid amount shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for bear interest until paid at a sum rate equal to the entire rent payable rate set forth in Article XXVII. With respect to all non-payment obligations, WORLDCOM shall be in default under this Agreement thirty (30) days after QWEST shall have given WORLDCOM written notice of such default unless WORLDCOM shall have cured such default or such default is otherwise waived within such thirty (30) days; provided, however, that where such default cannot reasonably be cured within such thirty (30) day-period, if WORLDCOM shall proceed promptly to cure the end same and prosecute such curing with due diligence, the time for curing such default shall be extended for such period of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental time as may be obtainednecessary to complete such curing. Events of default also shall include, but not be limited to, the making by WORLDCOM of a general assignment for the benefit of its creditors, the filing of a voluntary petition in bankruptcy or the filing of a petition in bankruptcy or other insolvency protection against WORLDCOM which is not dismissed within ninety (90) days thereafter, or the filing by WORLDCOM of any petition or answer seeking, consenting to, or acquiescing in reorganization, arrangement, adjustment composition, liquidation, dissolution, or similar relief. Any event of default by WORLDCOM may be waived under the terms of this Agreement at QWEST's option. Upon the failure by WORLDCOM to timely cure any such default after notice thereof from QWEST, QWEST may (i) take such action as it determines, in its sole discretion, to be necessary to correct the default, and ▇▇▇▇▇▇ agrees (ii) pursue any legal remedies it may have under applicable law or principles of equity relating to pay such breach. Notwithstanding the difference between sum equal above, if WORLDCOM certifies in good faith to the amount QWEST in writing that a default has been cured, such default shall be deemed to be cured unless QWEST otherwise notifies WORLDCOM in writing within fifteen (15) days of rent payable during the residue receipt of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlysuch notice from WORLDCOM.

Appears in 2 contracts

Sources: Iru Agreement (Qwest Communications International Inc), Iru Agreement (Qwest Communications International Inc)

Default. If default Section 1. Subject to the provisions of this Article XIV, this Lease is made upon the express condition that Lessee shall faithfully and punctually perform and observe all the agreements, covenants and conditions herein set forth to be performed by Lessee, and that if (i) at any time any Rent, insurance premiums, utilities charges or any other amounts required to be paid by Lessee hereunder, or any part thereof, shall be in arrears and unpaid for a period of five (5) days after the due date, or (ii) if defaults shall be made or suffered in the performance or observance of any of the other covenants or conditions of this Lease, and if Lessee fails to cure such default within twenty (20) days after notice in writing thereof shall have been given by Lessor to Lessee, or (iii) if such default cannot be corrected within such twenty (20) day period, if Lessee does not commence to correct such default within said twenty (20) day period and thereafter diligently prosecute the correction of same to completion within a reasonable time, but in no event exceeding a total of (60) days unless Lessor agrees to extend such sixty (60) day period, which Lessor shall agree to extend from time to time if Lessee is diligently prosecuting the correction of same, but is unable to complete the correction due to circumstances outside of Lessee’s reasonable control, Lessor shall have the right, at its election, to exercise the remedies set forth below: (a) Terminate this Lease by giving Lessee notice of termination, in which event this Lease shall expire and terminate on the date specified in such notice of termination and all rights of Lessee under this Lease and in and to the Premises shall terminate. Lessee shall remain liable for all obligations under this Lease arising up to the date of such termination, and Lessee shall surrender the Premises to Lessor on the date specified in such notice; or (b) Terminate this Lease as provided above and recover from Lessee all damages Lessor may incur by reason of Lessee’s default, including, without limitation, an amount which, at the date of such termination, is calculated as follows: (1) the value of the excess, if any, of (A) the Rent and all other sums which would have been payable hereunder by Lessee for the period commencing with the day following the date of such termination and ending with the Expiration Date had this Lease not been terminated (the “Remaining Term”), over (B) the aggregate reasonable rental value of the Premises for the Remaining Term (which excess, if any shall be discounted to present value at a commercially reasonable discount rate for the Remaining Term); plus (2) the costs of recovering possession of the Premises and all other expenses incurred by Lessor due to Lessee’s default, including, without limitation, reasonable attorney’s fees; plus (3) the unpaid Rent earned as of the date of termination plus any interest and late fees due hereunder, plus other sums of money and damages owing on the date of termination by Lessee to Lessor under this Lease or in connection with the Premises. Notwithstanding the foregoing, the amount as calculated above shall not include consequential, special or punitive damages. The amount as calculated above shall be deemed immediately due and payable. The payment of the amount calculated herein shall not be deemed a penalty but shall merely constitute payment of liquidated damages, it being understood and acknowledged by Lessor and Lessee that actual damages to Lessor are extremely difficult, if not impossible, to ascertain. In determining the aggregate reasonable rental value pursuant to subparagraph (B) above, the parties hereby agree that, at the time Lessor seeks to enforce this remedy, all relevant factors should be considered, including, but not limited to, (a) the length of time remaining in the Term, (b) the then current market conditions in the general area in which the Building is located, (c) the likelihood of reletting the Premises for a period of time equal to the remainder of the Term, (d) the net effective rental rates then being obtained by landlords for similar type space of similar size in similar type buildings in the general area in which the Building is located, (e) the vacancy levels in the general area in which the Building is located, (f) current levels of new construction that will be completed during the remainder of the Term and how this construction will likely affect vacancy rates and rental rates and (g) inflation; or (c) without terminating this Lease, declare immediately due and payable the sum of the following: (1) the present value (calculated using a commercially reasonable discount rate) of all Rent due and coming due under this Lease for the entire remaining Term (as if by the terms of this Lease they were payable in advance), plus (2) the cost of recovering and reletting the Premises and all other expenses incurred by Lessor in connection with Lessee’s default, plus (3) any unpaid Rent and other rentals, charges, assessments and other sums owing by Lessee to Lessor under this Lease or in connection with the Premises as of the date this provision is invoked by Lessor, plus (4) interest on all such amounts from the date due at the interest rate chargeable under Article I hereof, and Lessor may immediately proceed to distrain, collect, or bring action for such sum, or may file a proof of claim in any bankruptcy or insolvency proceedings to enforce payment thereof; provided, however, that such payment shall not be deemed a penalty or liquidated damages, but shall merely constitute payment in advance of all Rent payable hereunder throughout the Term, and provided further, however, that upon Lessor receiving such payment, Lessee shall be entitled to receive from Lessor all rents received by Lessor from other assignees, tenants and subtenants on account of said Premises during the remainder of the Term (provided that the monies to which Lessee shall so become entitled shall in no event exceed the entire amount actually paid by Lessee to Lessor pursuant to this subparagraph (iii)), less all costs, expenses and attorneys’ fees of Lessor incurred but not yet reimbursed by Lessee in connection with recovering and reletting the Premises; or (d) Without terminating this Lease, in its own name but as agent for Lessee, enter into and upon and take possession of the Premises or any part thereof. Any property remaining in the Premises may be removed and stored in a warehouse or elsewhere at the cost of, and for the account of, Lessee without Lessor being deemed guilty of trespass or becoming liable for any loss or damage which may be occasioned thereby unless caused by Lessor’s negligence. Thereafter, Lessor may, but shall not be obligated to, lease to a third party the Premises or any portion thereof as the agent of Lessee upon such terms and conditions as Lessor may deem necessary or desirable in order to relet the Premises. The remainder of any rentals received by Lessor from such reletting, after the payment of any installment indebtedness due hereunder from Lessee to Lessor, and the payment of any costs and expenses of such reletting, shall be held by Lessor to the extent of and for application in payment of future rent on owed by Lessee, if any, as the same may become due date thereofand payable hereunder. If such rentals received from such reletting shall at any time or from time to time be less than sufficient to pay to Lessor the entire sums then due from Lessee hereunder, or if Lessee shall pay any such deficiency to Lessor. Notwithstanding any such reletting without termination, Lessor may at any time thereafter elect to terminate this Lease for any such previous default provided same has not been cured; or (e) Without terminating this Lease, and with or without notice to Lessee, enter into and upon the Premises and, without being liable for prosecution or any claim for damages therefor, maintain the Premises and repair or replace any damage thereto or do anything or make any payment for which Lessee is responsible hereunder. Lessee shall reimburse Lessor immediately upon demand for any actual expenses which Lessor incurs in the performance of any other agreement (other than payment of rent) in thus effecting Lessee’s compliance under this Lease and such default (other than payment of rent), continues for ten days after written notice thereof, or if the Premises Lessor shall not be vacated or abandoned, then in any such event this Lease shall terminate, at the option of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages with respect thereto; or (f) Without liability to Lessee or any other party and without constituting a constructive or actual eviction, suspend or discontinue furnishing or rendering to Lessee any property, material, labor, utilities or other service, wherever Lessor is obligated to furnish or render the same so long as an event of default exists, and remains uncured after any applicable cure period, under this Lease; or (g) With or without terminating this Lease, allow the Premises to remain unoccupied and collect rent from Lessee as it comes due; or (h) Pursue such other remedies as are available at law or equity. (i) If this Lease shall terminate as a result of or while there exists an Event of Default hereunder, any funds of Lessee held by Lessor may be applied by Lessor to any damages payable by Lessee (whether provided for prosecution therefor; herein or by law) as a result of such termination or default. Neither the commencement of any action or proceeding, nor the settlement thereof, nor entry of judgment thereon shall bar Lessor from bringing subsequent actions or proceedings from time to time, nor shall the failure to include in any action or proceeding any sum or sums then due be a bar to the maintenance of any subsequent actions or proceedings for the recovery of such sum or sums so omitted. No agreement to accept a surrender of the Premises and no act or omission by Lessor or Lessor’s rights agents during the Term shall constitute an acceptance or surrender of the Premises unless made in writing and signed by Lessor. No re-entry or taking possession of the Premises by Lessor shall constitute an election by Lessor to terminate this Lease unless a written notice of such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination intention is given to Lessee. No provision of this Lease shall be deemed to have been waived by either party unless such waiver is in writing and re-entry signed by the Lessor that party making such waiver. Lessor’s acceptance of Rent in full or in part following an Event of Default hereunder shall not be construed as a waiver of such Event of Default. No custom or practice which may grow up between the parties in connection with the terms of this Lease shall be construed to waive or lessen either party’s right to insist upon strict performance of the terms of this Lease, without a written notice thereof to the other party. Section 3. If, after the commencement of the Term, (a) Lessee shall remain liable for be adjudicated a sum equal bankrupt or adjudged to the entire rent payable to the end of the Term hereof and be insolvent; (b) a receiver or trustee shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent be appointed for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, ’s property and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthly.affairs;

Appears in 2 contracts

Sources: Contribution and Distribution Agreement (Xpedx Holding Co), Contribution and Distribution Agreement (Xpedx Holding Co)

Default. If The occurrence of any one or more of the following events shall constitute a default is made in hereunder by Sublessee: (a) The failure by Sublessee to make any payment of the rent or any part thereof or of other sums payable by Sublessee hereunder at the times and places herein fixed for the payment thereof and said default shall continue ten (10) days (whether or not the payment of said rent shall have been demanded); (b) The vacation or abandonment of the Premises by Sublessee; (c) The failure by Sublessee to observe or perform any installment other of rent on the due covenants herein contained or contained in the Prime Lease to be observed and performed and said default shall continue for a period of fifteen (15) days after notice to Sublessee (provided, however, that if the nature of Sublessee’s default is such that more than fifteen (15) days are reasonably required for its cure, then Sublessee shall not be deemed to be in default if Sublessee shall commence such cure within said fifteen (15)-day period and thereafter diligently prosecutes such cure to completion, which completion shall occur not later than thirty (30) days from the date thereofof such notice from Sublessor); or (d) If Sublessee shall make an assignment for the benefit of creditors, or file a voluntary petition in bankruptcy or insolvency, or shall be adjudged bankrupt, or if Lessee a permanent receiver of the property of Sublessee shall default in be appointed or Sublessee shall be declared bankrupt or insolvent according to law. In the performance event of any other agreement such default, notwithstanding any license or waiver of any former breach of covenant or consent in a former instance, in addition to all rights afforded the Prime Lessor under the Prime Lease, it shall be lawful for Sublessor thereupon or at any time thereafter, while such default, assignment, insolvency, legal proceedings, desertion, vacancy or neglect shall continue to be in effect, to terminate this Sublease and all of Sublessee’s interest hereunder by (other than payment i) giving written notice to Sublessee of rent) in such termination and of the effective date thereof (and, such notice having been given, this Lease Sublease shall cease and such default expire on the date named therein); if this Sublease is terminated pursuant to the provisions of this subparagraph (other than payment of renti), continues Sublessee will remain liable to Sublessor for ten days after written notice thereof, or if damages in an amount equal to the Premises be vacated or abandoned, then in any such event rent and other sums which would have been owing by Sublessee under this Lease shall terminate, at Sublease for the option balance of the LessorTerm, if this Sublease had not been terminated. Sublessor will be entitled to either (a) collect such damages from Sublessee monthly on the days on which the rent and other amounts would have been payable under this Sublease if this Sublease had not been terminated, and Lessor may re-enter Sublessor will be entitled to receive such damages from Sublessee on each such day or (b) at Sublessor’s option, the Premises rent due for the balance of the Term shall immediately become due and take possession thereofpayable in full in its entirety and shall be discounted to present value based upon a six percent (6%) rate; and/or (ii) at Sublessor’s option, without demand or notice, and with or without force or legal process of law to enter upon and without notice or demand, into the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for in the remainder name of the Term or for any longer or shorter period as opportunity may offerwhole, and to declare this Sublease at an end and in such rental as may be obtainedcase expel Sublessee and those claiming under it without being guilty of any manner of trespass, without prejudice, however, to Sublessor’s claims for rent or other claims for breach of covenant hereunder, it being expressly understood and ▇▇▇▇▇▇ agrees to pay the difference between sum equal agreed that this Sublease shall not continue or inure to the amount benefit of any assignee, receiver or trustee in bankruptcy, excepting at the option of Sublessor. Sublessee covenants that in the case of the termination of this Sublease in any manner specified in the foregoing proviso, Sublessee shall indemnify and save harmless Sublessor against all loss of rent or other payments which it may suffer by reason of such termination. This Section 16 shall survive termination of this Sublease. Additionally, all sums due to Sublessor from Sublessee which are not paid when due (due date shall not be extended by any periods of grace granted under this Sublease), whether or not a default has occurred or been declared by Sublessor, shall bear interest at the rate of fifteen percent (15%) per annum until paid in full, payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyto Sublessor.

Appears in 2 contracts

Sources: Sublease (Harvard Apparatus Regenerative Technology, Inc.), Sublease (Harvard Apparatus Regenerative Technology, Inc.)

Default. If default is made in In the payment of event (i) any installment of rent on or additional rent shall not be paid within ten (10) days after it's due date; or (ii) failure to remove snow and ice from sidewalks, stairs and dock area adjacent to the due date thereof, Leased Premises for more than 48 hours after such snow or if ice appears; or (iii) Lessee shall default defaults in the performance or observance of any other agreement (other than payment of rent) covenant or condition in this Lease Indenture and such default remains unremedied for twenty (other than payment of rent), continues for ten 20) days after written notice thereofthereof has been given to Lessee by Lessor; or (iv) any warranty or representation made by Lessee herein proves to be false or misleading; or (v) Lessee makes an assignment for the benefit of creditors, is generally not paying its debts as such debts become due, a custodian was appointed or took possession of its assets other than a trustee, receiver or agent appointed or authorized to take charge of less than substantially all of the property of Lessee for the purpose of enforcing a lien against such property, commences any proceeding relating to Lessee or any substantial part of its property arrangement, readjustment of debt, dissolution or liquidation law or statute of any jurisdiction whether now or hereafter in effect, or if there is commenced against Lessee any such proceeding which remains undismissed for a period of sixty (60) days, or any order approving the Premises be vacated or abandoned, then petition in any such event this Lease shall terminateproceeding is entered, at or Lessee by any act indicates its consent to, or acquiescence in, any such proceeding or the option appointment of any receiver or trustee for Lessee or any substantial part of its property, or suffers any such receivership or trusteeship to continue undischarged for a period of sixty (60) days, or any party holding a security interest in any of Lessee's fixtures or personal property of any nature whatsoever that are located on the LessorLeased Premises institutes or gives notice of foreclosure against any such property, and then, in any of such events, Lessor may re-enter the Premises and take possession thereof, with immediately or without force or legal process at any time thereafter and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and notice enter upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for in the remainder name of the Term whole and repossess the same as of Lessor's former estate and expel Lessee and those claiming through or under Lessee and remove their effects forcibly if necessary, without being deemed guilty of any manner of trespass and without prejudice to any remedies which might otherwise be used for any longer arrears of rent or shorter period as opportunity may offerpreceding breach of covenant, and at upon such rental as may be obtainedentry this Lease shall terminate, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthly.and

Appears in 2 contracts

Sources: Lease (Skillsoft Corp), Lease (Skillsoft Corp)

Default. If In the event that: (a) LESSEE shall default is made in the payment of the security deposit or any installment of rent on the due date thereof, or if Lessee shall default in the performance Annual Base Rent of any other agreement (other than payment of rent) in this Lease Additional Rent, and such default shall continue for five (other than payment of rent), continues for ten 5) business days after written notice thereof; or (b) LESSEE shall default in the observance or performance of any other of LESSEE’s covenants, agreements, or obligations hereunder and such default shall not be corrected within thirty (30) days after written notice thereof or within such longer time as may be reasonably necessary provided LESSEE commences to cure within such 30-day period and diligently pursues such cure to completion; (c) LESSEE shall be declared bankrupt or insolvent according to law, or if any voluntary or involuntary petition for bankruptcy is filed against LESSEE and not discharged within sixty (60) days from filing; or if any assignment shall be made of LESSEE’s property for the benefit of creditors; then, while such default continues, and without demand or further notice, LESSOR shall have the right to re-enter and take complete possession of the Leased Premises, to declare the term of this Lease ended, and to remove LESSEE’s effects, without being guilty of any manner of trespass and without prejudice to any remedies which might be otherwise used for arrears of rent and other default of breach of covenant. LESSEE shall indemnify LESSOR against all loss of Rent and other payments which LESSOR may incur by reason of such termination during the remainder of the term, it being expressly understood that LESSOR shall use reasonable efforts to relet the Leased Premises and collect all rents from such reletting. If LESSEE shall default, after reasonable notice thereof, in the observance or performance of any conditions or covenants on LESSEE’s part to be vacated observed or abandoned, then performed under or by virtue of any one of the provisions in any section of this Lease, LESSOR, without being under any obligation to do so and without thereby waiving such event default, may after the expiration of any applicable cure period, remedy same for the account and at the expense of LESSEE, (including but not limited to application of any or all of the Security Deposit held by LESSOR). If LESSOR pays or incurs any obligations for the payment of money in connection therewith, including but not limited to reasonable attorney’s fees in instituting, prosecuting or defending any action or proceeding, such sums paid or obligations incurred, with interest at the rate of eighteen (18%) percent per annum and costs, shall be paid to LESSOR by LESSEE as additional rent. Upon default of this Lease by LESSEE, and because the payment of Rent in monthly installments is for the sole convenience of the LESSEE, the entire balance of the Rent which would accrue hereunder shall terminate, at the option of the LessorLESSOR become immediately due and payable. The foregoing shall be subject to LESSOR’s agreement to take reasonable steps to mitigate its damages (in which case the LESSOR shall repay to LESSEE the mitigated amount against the accelerated Rent paid by LESSEE), and Lessor may re-enter but such mitigation shall not be construed to require LESSOR to lease to any substitute tenant: (a) at any Rent that is less than the Premises and take possession thereoflower of: (i) the Rent that is set forth in this Lease, with or without force or legal process and without notice or demand, (ii) the service Rent for comparable space in the Building being marketed by LESSOR as of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from date of the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefordefault; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable (b) for a sum equal to Term that is less than the entire rent payable to the end remaining balance of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for Lease; (c) on any terms or conditions that are materially less favorable to LESSOR than those set forth in the remainder of Lease; or (d) if such substitute tenant is reasonably objectionable to the original term for a less sum than beforeLESSOR. LessorNotwithstanding the foregoing, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ LESSEE agrees to pay the difference between sum equal to the amount reasonable attorney’s fees incurred by LESSOR in enforcing any or all obligations of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyLESSEE under this Lease at any time.

Appears in 2 contracts

Sources: Commercial Lease (Mersana Therapeutics, Inc.), Commercial Lease (Mersana Therapeutics, Inc.)

Default. If default is made in the payment A. The occurrence of any installment one or more of rent on the following events shall constitute a default hereunder by TENANT (an “Event of Default”): 1. If Base Rent or Additional Rent is not paid within five (5) days after it is due date thereof, or if Lessee and payable; 2. If TENANT shall have failed to cure a default in the performance of any of the other agreement terms, covenants or provisions of this Lease (other than except payment of rent) in this Lease and such default (other than payment of rent), continues for ten or any rule or regulation hereinafter set forth within fifteen(15) days after written notice thereof, or if the Premises such default is of a nature that it cannot be vacated or abandoned, then in any such event this Lease shall terminate, at the option of the Lessorcompletely remedied within said fifteen (15) day period, and Lessor TENANT shall not commence within said fifteen (15) days and shall not thereafter diligently procure to completion all steps necessary to remedy such default; 3. If a petition in bankruptcy shall be filed by or against TENANT or if TENANT shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; 4. If a receiver or trustee is appointed for any portion of TENANT’S property and such appointment is not vacated within sixty (60) days; 5. If an execution or attachment shall be issued under which the Demised Premises shall be taken or occupied or attempted to be taken or occupied by anyone other than TENANT; 6. If the Demised Premises become and remain vacant, deserted or abandoned for a period of thirty (30) consecutive days; 7. If the Demised Premises are used for some purpose other than the use specifically authorized herein. B. If TENANT shall default in performing any covenant or condition of this Lease, LANDLORD may re-enter perform the Premises and take possession thereof, with or without force or legal process and without notice or demand, same for the service account of notice, demand or legal process being hereby expressly waivedTENANT, and upon such entry, as aforesaid, this Lease TENANT shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee reimburse LANDLORD for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, expense incurred therefor as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyadditional rent.

Appears in 2 contracts

Sources: Lease Agreement, Lease Agreement (Bankrate Inc)

Default. If Should Lessee default is made in the payment of any installment of rent on the or any other sum when due date thereofas herein provided, or if Lessee shall default in the performance of or breach any other agreement (other than payment covenant, condition or restriction herein provided to be kept or performed by Lessee; or should Lessee fail to take out, pay for, maintain or deliver any of rent) the insurance certificates provided in this Lease to be paid by Lessee at the time and in the manner herein provided, and should any such default or breach continue for a period of thirty (other than payment of rent), continues for ten 30) days from and after written notice thereofthereof is given by Lessor to Lessee (or, or if except for payment of Rent, for such longer period as may be reasonably required provided that Lessee commences to cure the Premises be vacated or abandonedbreach in a prompt manner and proceeds diligently thereafter to complete such cure), then then, and in any such event event, Lessor may at Lessor’s option terminate this Lease shall terminate, at the option of the Lessorby giving Lessee no less than seven days’ prior written notice hereof, and Lessor may re-enter the Premises and take possession thereofthereupon, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon unless such entry, as aforesaiddefault is cured within such seven days’ period, this Lease shall cease and terminate and Lessee’s rights in and to the Premises and all buildings and other improvements erected and placed thereon shall cease and end, and the Lessor may exclude may, without further notice or demand of legal process, re-enter and take possession of said Premises and all buildings and other improvements thereon, remove Lessee and all persons claiming under Lessee therefrom and, except as herein otherwise provided, Lessee and all such persons shall quit and surrender possession of the Premises and all buildings and other improvements thereon to Lessor, provided, however, that such termination shall not relieve Lessee from the Premisespayment of any sums then due and payable from Lessee or any claim for damages then accrued against Lessee hereunder, changing the lock on the door and such termination shall not prevent Lessor from recovering any such sums or doors if deemed necessarydamages, if applicable, without being liable to Lessee or from enforcing such obligations or recovering damages for any damages or for prosecution therefor; Lessor’s rights default thereof, by any remedy provided by law. Notwithstanding the foregoing, Lessee shall have the right to avoid termination and have this Lease continue in full force and effect provided that it pays any unpaid Rent prior to eviction. Lessor shall use commercially reasonable efforts to relet the Premises in the event of any such event may be enforced by action in unlawful detainer or other proper legal actiontermination, and the Lessee expressly agrees, notwithstanding termination of this Lease rents and other sums collected upon any such re-entry by the Lessor that the Lessee letting shall remain liable for a sum equal to the entire rent payable to the end be credited against any of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthly’s liabilities hereunder.

Appears in 2 contracts

Sources: Lease (Blue Apron Holdings, Inc.), Lease (Blue Apron Holdings, Inc.)

Default. If default is made in the payment The occurrence of any installment one or more of the following shall constitute an “Event of Default” under this Sublease: a. Subtenant shall fail to pay any rent on or other sum due hereunder within five (5) business days after written notice by Sublandlord to Subtenant; b. Subtenant shall create or suffer a default under the due date thereofPrime Lease under any provision of the Prime Lease applicable to Subtenant or the Sublease Premises, or if Lessee except as expressly excluded herein, and Subtenant shall not cure such default within thirty (30) days after written notice from Sublandlord to Subtenant; c. Subtenant shall default in the due keeping, observing or performance of any other agreement covenant, term, provision or condition of this Sublease not described above on the part of Subtenant to be kept, observed or performed, and if such default shall continue and shall not be remedied by Subtenant within thirty (30) days after Sublandlord shall have given to Subtenant a written notice specifying the same; d. any event shall occur or any contingency shall arise whereby this Sublease or the estate hereby granted or the unexpired balance of the term hereof would, by operation of law or otherwise, devolve or pass to any person, firm, association or corporation other than payment Subtenant except as expressly permitted hereunder; e. Subtenant shall make an assignment of rent) in this Lease its property for the benefit of creditors or shall file a voluntary petition under any bankruptcy or insolvency law, or an involuntary petition under any bankruptcy or insolvency law shall be filed against Subtenant and such default involuntary petition is not dismissed within sixty (other than payment of rent), continues for ten 60) days after written notice the filing thereof, ; f. a petition is filed by or if against Subtenant under the Premises be vacated or abandoned, then in any such event this Lease shall terminate, at the option reorganization provisions of the LessorUnited States Bankruptcy Code or under the provisions of any law of like import, unless such petition under said reorganization provisions be one filed against Subtenant which is dismissed within sixty (60) days after its filing; g. Subtenant shall file a petition under the arrangement provisions of the United States Bankruptcy Code or under the provisions of any law of like import; or h. a permanent receiver, trustee or liquidator shall be appointed for Subtenant or of or for the property of Subtenant, and Lessor may such receiver, trustee or liquidator shall not have been discharged within sixty (60) days from the date of his or her appointment. If an Event of Default occurs under this Sublease, Subtenant does hereby authorize and fully empower Sublandlord to use all lawful means available to cancel and annul this Sublease, and to re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, of the service of notice, demand or legal process being hereby expressly waivedSublease Premises, and upon remove all persons and their property therefrom so as to recover at once full and exclusive possession of all the Sublease Premises, whether in possession of Subtenant or of third persons, or vacant; or Sublandlord may at its option at any time after such entrydefault or violation of condition or covenant, as aforesaid, re-enter and take possession of the Sublease Premises without such re-entering working a forfeiture of the rents to be paid and the covenants to be kept by Subtenant for the full term of this Sublease. The foregoing shall in no way limit the remedies or rights of Sublandlord and the parties hereby agree that all of the rights and remedies in favor of Prime Landlord under the Prime Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal inure to the entire rent payable to the end benefit of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account Sublandlord if an Event of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyDefault occurs under this Sublease.

Appears in 2 contracts

Sources: Sublease Agreement, Sublease Agreement (Tier Technologies Inc)

Default. (a) Failure of Tenant to perform any of its obligations hereunder shall constitute an (“Event of Default”). Upon the occurrence of an Event of Default, Landlord shall: (i) If the Event of Default relates to any other obligation not deemed to be an emergency by Landlord, Landlord shall give Tenant a thirty (30) day written notice of default; (ii) If the Event of Default is deemed by Landlord to be an emergency requiring immediate attention, Landlord shall give Tenant telephonic notice of default is made in followed by written notice requiring immediate cure of the payment default. (b) Upon expiration of the notice period provided above, if Tenant has not cured the Event of Default, Landlord may take any installment of rent on the due date thereoffollowing actions, or if Lessee shall default in the performance of any other agreement actions allowed in law or equity: (other than payment i) Cure the Event of rent) in this Lease and such default (other than payment of rent), continues for ten days after written notice thereof, or if the Premises be vacated or abandoned, then in any such event this Lease shall terminate, Default at the option expense of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees ▇, in which case any costs incurred by Landlord in curing the Event of Default shall be due and payable to pay Landlord within thirty (30) days after receipt of an invoice therefore; (ii) Terminate this Lease by written notice of termination to Tenant. Absent such written notice of termination, no action by Landlord shall be deemed to be a termination of this Lease; (iii) Proceed under the difference between sum equal to the amount of rent payable during the residue law of the Term State to re-enter and net rent received by take possession of the Lessor during leased premises, expelling Tenant therefrom and relet the Term after deducting all leased premises without terminating the Lease, with Tenant to be liable for costs and expenses of every kind reletting as well as any difference in rental through the remainder of the term of the Lease; (iv) Bring an action for repairs, recovering possession collection of damages caused by ▇▇▇▇▇▇’s breach of the Lease; or (v) Any combination of the foregoing remedies and reletting the same, which differences shall accrue and be payable monthlythose provided in law or equity.

Appears in 2 contracts

Sources: Agricultural Lease Agreement, Agricultural Lease Agreement

Default. A. If default Purchaser exercises the Option, all contingencies are satisfied and the sale and purchase of the Property as contemplated by this Agreement is made not consummated because of Purchaser’s default, Seller shall provide Purchaser with written notice describing the alleged defaults and a demand to cure the same within twenty-one (21) days thereafter, and in the payment event Purchaser fails to cure within the aforesaid twenty-one (21) period, then Seller may, at Seller’s option, as Seller’s exclusive remedies, either: (a) terminate this Agreement by giving written notice of any installment such termination to Purchaser, whereupon the Option Price and the interest earned thereon shall be retained by Seller and all rights, duties and obligations of rent on all the due date thereofparties hereunder shall expire and this Agreement shall in all respects become null and void, or if Lessee shall default in the (b) seek and obtain specific performance of any other agreement (other than payment of rent) in this Lease and such default (other than payment of rent), continues for ten days after written notice thereof, or if Agreement. It is expressly intended by the Premises be vacated or abandoned, then in any such event this Lease shall terminate, at the option provisions of the Lessor, preceding sentence to exclude such other rights and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental remedies as may be obtainedprovided for or allowed by law or in equity including, without limitation, any right to seek damages, compensatory or otherwise. The terms and limitations of this Section of this Agreement shall not be construed to limit any of Seller’s remedies that are specifically set forth in other Sections of this Agreement. B. If Purchaser exercises the Option, all contingencies are satisfied and the sale and purchase of the Property as contemplated by this Agreement is not consummated because of Seller’s default, Purchaser shall provide Seller with written notice describing the alleged defaults and a demand to cure the same within twenty-one (21) days thereafter, and ▇▇▇▇▇▇ agrees in the event Seller fails to pay cure within the difference between sum equal aforesaid twenty-one (21) period, then Purchaser may, at Purchaser’s option, as Purchaser’s exclusive remedies, either: (a) terminate this Agreement by giving written notice of such termination to Seller, whereupon the amount Option Price, including the interest earned thereon, if any, shall be returned to Purchaser and all rights, duties and obligations of rent payable during all the residue parties hereunder shall expire and this Agreement shall in all respects become null and void, or (b) seek and obtain specific performance of this Agreement. It is expressly intended by the provisions of the Term preceding sentence to exclude such other rights and net rent received remedies as may be provided for or allowed by the Lessor during the Term after deducting all expenses law or in equity including, without limitation, any right to seek damages, compensatory or otherwise. The terms and limitations of every kind for repairs, recovering possession and reletting the same, which differences this Section of this Agreement shall accrue and not be payable monthlyconstrued to limit any of Purchaser’s remedies that are specifically set forth in other Sections of this Agreement.

Appears in 2 contracts

Sources: Option Agreement (Illinois River Energy LLC), Option Agreement (Illinois River Energy LLC)

Default. If 22.01. This Lease and the term and estate hereby granted are subject to the limitation that whenever Tenant shall hereafter make an assignment for the benefit of creditors, or shall file a voluntary petition under any bankruptcy or insolvency law, or (subject to clause (a) below) an involuntary petition alleging an act of bankruptcy or insolvency shall be filed against Tenant under any bankruptcy or insolvency law, or whenever a petition shall be filed by or (subject to clause (a) below) against Tenant under the reorganization provisions of the United States Bankruptcy Code or under the provisions of any law of like import, or whenever a petition shall be filed by Tenant, under the arrangement provisions of the United States Bankruptcy Code or under the provisions of any law of like import, or whenever a permanent receiver of Tenant, or of or for the property of Tenant, shall be appointed, then Landlord (a) if such event occurs without the acquiescence of Tenant, as the case may be, at any time after the event continues for ninety (90) days, or (b) if such event is voluntary by Tenant, at any time after the occurrence of any such event, may give Tenant a notice of intention to end the term of this Lease at the expiration often (10) days from the date of service of such notice of intention, and upon the expiration of said ten (10) day period this Lease and the term and estate hereby granted, whether or not the term shall theretofore have commenced, shall terminate with the same effect as if that day were the Expiration Date of this Lease, but Tenant shall remain liable for damages as provided in Article 24 hereof. Landlord acknowledges that at the time this Lease is executed a segregated account of Tenant is currently subject to a rehabilitation proceeding in Wisconsin and Tenant’s parent company, Ambac Financial Group Inc., is currently subject to a federal bankruptcy proceeding and neither of those current proceedings shall have an adverse affect on this Lease or be considered a default under this Article 22 provided the Lease is made not transferred to the segregated account of Tenant, the general account of Tenant does not become encompassed in the rehabilitation proceeding in Wisconsin and Tenant does not become subject to its parent company’s bankruptcy proceeding. 22.02. This Lease and the term and estate hereby granted are subject to the further limitations that: (a) if Tenant shall default in the payment when due of any Fixed Rent or Additional Charges, and such default shall continue for fourteen (14) days after notice of such default, or (b) if Tenant shall, whether by action or inaction, be in default of any of its obligations under this Lease (other than a default in the payment of any installment of rent on the due date thereof, Fixed Rent or if Lessee shall default in the performance of any other agreement (other than payment of rentAdditional Charges) in this Lease and such default shall continue and not be remedied within thirty (other than payment of rent), continues for ten 30) days after written Landlord shall have given to Tenant a notice thereofspecifying the same, or if or, in the Premises case of a default which cannot with due diligence be vacated or abandoned, then in any such event this Lease shall terminate, at the option cured within a period of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate thirty (30) days and the continuance of which for the period required for cure will not (i) subject Landlord or any Superior Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable any Superior Mortgagee to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to crime or (ii) subject the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof or the Building or Land, or any part thereof, to being condemned or vacated, if Tenant shall not (x) within said thirty (30) day period advise Landlord of Tenant’s intention to take all steps necessary to remedy such default, (y) duly commence within said thirty (30) day period, and thereafter diligently prosecute to completion all steps necessary to remedy the default, then in any of said cases Landlord may give to Tenant a notice of intention to end the term of this Lease at the expiration of five (5) days from the date of the service of such notice of intention, and upon the expiration of said five (5) days this Lease and the term and estate hereby granted, whether or not the term shall theretofore have commenced, shall terminate with the same effect as if that day was the day herein definitely fixed for the remainder end and expiration of this Lease, but Tenant shall remain liable for damages as provided in Article 24 hereof. (a) If Tenant shall have assigned its interest in this Lease, and this Lease shall thereafter be disaffirmed or rejected in any proceeding under the United States Bankruptcy Code or under the provisions of any federal, state or foreign law of like import, or in the event of termination of this Lease by reason of any such proceeding, the assignor or any of its predecessors in interest under this Lease, upon request of Landlord given within ninety (90) days after such disaffirmance or rejection shall (a) pay to Landlord all Fixed Rent and Additional Charges then due and payable to Landlord under this Lease to and including the date of such disaffirmance or rejection and (b) enter into a new lease as lessee with Landlord of the Term Premises for a term commencing on the effective date of such disaffirmance or rejection and ending on the Expiration Date, unless sooner terminated as in such lease provided, at the same Fixed Rent and Additional Charges and upon the then executory terms, covenants and conditions as are contained in this Lease, except that (i) the rights of the lessee under the new lease, shall be subject to any possessory rights of the assignee in question under this Lease and any rights of persons claiming through or under such assignee, (ii) such new lease shall require all defaults existing under this Lease to be cured by the lessee with reasonable diligence, and (iii) such new lease shall require the lessee to pay all Additional Charges which, had this Lease not been disaffirmed or rejected, would have become due after the effective date of such disaffirmance or rejection with respect to any prior period, subject to the right of such lessee to dispute such amounts. If the lessee shall fail or refuse to enter into the new lease within fourteen (14) days after Landlord’s request to do so, then in addition to all other rights and remedies by reason of such default, under this Lease, at law or in equity Landlord shall have the same rights and remedies against the lessee as if the lessee had entered into such new lease and such new lease had thereafter been terminated at the beginning of its term by reason of the default of the lessee thereunder. (b) if pursuant to the Bankruptcy Code, Tenant is permitted to assign this Lease in disregard of the restrictions contained in Article 7 hereof (or if this Lease shall be assumed by a trustee), the trustee or assignee shall cure any default under this Lease and shall provide adequate assurance of future performance by the trustee or assignee including (a) of the source of payment of rent and performance of other obligations under this Lease (for which adequate assurance shall mean the deposit of cash security with Landlord in an amount equal to the sum of one year’s Fixed Rent then reserved hereunder plus an amount equal to all Additional Charges payable under Article 3 hereof for the calendar year preceding the year in which such assignment is intended to become effective, which deposit shall be held by Landlord, with interest, for the balance of the term as security for the full and faithful performance of all of the obligations under this Lease on the part of Tenant yet to be performed) and that any longer such assignee of this Lease shall have a net worth computed in accordance with generally accepted accounting principles, equal to at least ten (10) times the aggregate of the annual Fixed Rent reserved hereunder plus all Additional Charges for the preceding calendar year as aforesaid and (b) that the use of the Premises shall comply with the provisions of Article 2 of this Lease and shall not be so disreputable as to adversely affect the reputation of the Building. If all defaults are not cured and such adequate assurance is not provided within 60 days after there has been an order for relief under the Bankruptcy Code, then this Lease shall be deemed rejected, Tenant or shorter period any other person in possession shall vacate the Premises, and Landlord shall be entitled to retain any rent or security deposit previously received from Tenant and shall have no further liability to Tenant or any person claiming through Tenant or any trustee. If Tenant receives or is to receive any valuable consideration for such an assignment of this Lease, such consideration, after deducting therefrom (a) the brokerage commissions, if any, and other expenses reasonably incurred by Tenant for such assignment and (b) any portion of such consideration reasonably designed by the assignee as opportunity paid for the purchase of Tenant’s Property in the Premises, shall be and become the sole exclusive property of Landlord and shall be paid over to Landlord directly by such assignee. If Tenant’s trustee, Tenant or Tenant as debtor-in-possession assumes this Lease and proposes to assign the same (pursuant to Title 11 U.S.C. Section 365, as the same may be amended) to any person, including, without limitation, any individual, partnership or corporate entity, who shall have made a bona fide offer to accept an assignment of this Lease on terms acceptable to the trustee, Tenant or Tenant as debtor-in-possession, then notice of such proposed assignment, setting forth (x) the name and address of such person, (y) all of the terms and conditions of such offer, and at (z) the adequate assurance to be provided Landlord to assure such rental person’s future performance under this Lease, including, without limitation, the assurances referred to in Title 11 U.S.C. Section 365(b)(3) (as the same may be obtainedamended), shall be given to Landlord by the trustee, Tenant or Tenant as debtor-in-possession prior to the assignment, but in any event no later than ten (10) days prior to the date that the trustee, Tenant or Tenant as debtor-in-possession shall make application to a court of competent jurisdiction for authority and approval to enter into such assignment and assumption, and ▇▇▇▇▇▇ agrees Landlord shall thereupon have the prior right and option, to be exercised by notice to the trustee, Tenant or Tenant as debtor-in-possession, given at any time prior to the effective date of such proposed assignment, to accept an assignment of this Lease upon the same terms and conditions and for the same consideration after giving effect to any sharing of consideration to which Landlord would be entitled under Section 7.07 if this were an assignment contemplated by Article 7 hereof, if any, as the bona fide offer made by such person, less any brokerage commissions which may be payable out of the consideration to be paid by such person for the assignment of this Lease except to the extent of any such brokerage commissions that Tenant is required to pay the difference between sum equal to the amount of rent payable during the residue of the Term any party unaffiliated with Tenant and net rent received which is in fact paid by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyTenant.

Appears in 2 contracts

Sources: Lease (Ambac Financial Group Inc), Settlement Agreement (Ambac Financial Group Inc)

Default. If default and whenever: (a) the Rent hereby reserved, or any part thereof, is made not paid on the day appointed for payment thereof, whether demanded or not, or (b) in the payment case of any installment of rent on the due date thereof, breach or if Lessee shall default in the non-observance or non-performance of any other agreement of the covenants, agreements, provisos, conditions, or rules and regulations on the part of the Tenant to be kept, observed, or performed, or (c) in case the Term is taken in execution of attachment for any cause whatsoever, (d) if, without being permitted under this Lease, the Restaurant should be used by any person other than payment the Tenant, or for any purpose other than that for which the same was let, or then if the Landlord considers the default is curable by the Tenant, the Landlord may give to the Tenant notice of rent) in this Lease and such default (other than payment and if at the expiration of rent), continues for ten 15 days after written the giving of such notice thereofthe default continues to exist, or if the Premises Landlord considers the default to be vacated or abandonednon-curable, then in every such case, it will be lawful for the Landlord at any such event this Lease shall terminate, at time thereafter to enter into and upon the option Restaurant or any part thereof in the name of the Lessorwhole and the same to have again, repossess, and Lessor may enjoy as of its former estate, anything inthis Lease contained to the contrary notwithstanding. Whenever the Landlord is entitled to re-enter the Premises and take possession thereofRestaurant it may, with or without force or legal process at its option and without notice or demandlimiting its other remedies, terminate the Lease and, if so terminated, the full amount of Rent for that part of the Term that would have remained will become due and payable. If this Lease is so terminated, the Landlord, to the extent permitted by law, may immediately repossess the Restaurant, sell or dispose of such Tenant's fixtures, trade fixtures, personal property or leasehold improvements therein as the Landlord considers appropriate, or store any of the Tenant's fixtures, trade fixtures, personal property or leasehold improvements therein in a public warehouse or elsewhere at the cost of the Tenant, all without service of notice, demand or without legal process being hereby expressly waivedproceedings, and upon such entry, as aforesaid, without liability for loss or damage and wholly without prejudice to the rights of the Landlord to recover arrears of Rent or damages for any default by the Tenant of its obligations or agreements under this Lease shall terminate or of any term or condition of this Lease, and wholly without prejudice to the Lessor may exclude Lessee rights of the Landlord to recover from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee Tenant damages for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced loss of Rent suffered by action in unlawful detainer or other proper legal actionreason of this Lease having been prematurely terminated, and the Lessee expressly agreesLandlord reserves a right to claim all costs (on a solicitor and client basis) losses, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offerdamages, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay expenses arising from the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyTenant's breach.

Appears in 2 contracts

Sources: Lease Agreement, Lease Agreement

Default. If default the Company does not have a sufficient number of shares of Common Stock available to satisfy the Company's obligations to a Holder of Debentures upon receipt of a Conversion Notice or is made otherwise unable to issue such shares of Common Stock in accordance with the terms of this Agreement and such condition shall remain unremedied for a period of thirty (30) days after the Company's receipt of a Conversion Notice (a "CONVERSION DEFAULT"), then from and after the fifth (5th) day following a Conversion Default (which for all purposes shall be deemed to have occurred upon the expiration of the applicable cure period following the Company's receipt of the applicable Conversion Notice), each Holder of the Debentures shall have the right to demand from the Company immediate redemption of the Debentures in cash at a redemption price per Debenture equal to 120% of the then Outstanding Principal Amount of the Debenture (including Debentures for which a Conversion Notice has not yet been sent), plus accrued but unpaid interest on the Debenture. Within three days of the occurrence of a Conversion Default, the Company shall notify each Holder in writing of such occurrence. No notice of redemption may be delivered by a Holder subsequent to receipt by such Holder of notice from the Company (sent by overnight or 2-day courier with a copy sent by facsimile) of availability of sufficient shares of Common Stock to perfect conversion (a "POST-DEFAULT CONVERSION") of all the Debentures; PROVIDED FURTHER that such right to demand redemption shall be reinstated if the Company shall thereafter fail to perfect such Post-Default Conversion by delivery of Common Stock certificates in accordance with the applicable provisions of Paragraph 6(b) hereof and payment of any installment all accrued and unpaid interest in cash with respect thereto within five business days of rent delivery of the notice of Post-Default Conversion. In addition to the foregoing, upon a Conversion Default, the rate of interest on all of the Debentures (including Debentures for which a Conversion Notice has not yet been sent), shall, to the maximum extent allowed by applicable law, be permanently increased by two percent (2%) per annum (i.e., from 6% to 8%) commencing on the first day of the thirty (30) day period (or part thereof) following a Conversion Default; an additional two percent (2%) per annum commencing on the first day of each of the second and third such thirty (30) day periods (or part thereof); and an additional one percent (1%) per annum on the first day of each consecutive thirty (30) day period (or part thereof) thereafter until such securities have been duly converted or redeemed as herein provided; provided that in no event shall the rate of interest exceed the lower of 20% or the highest rate permitted by applicable law to be charged on commercial loans. Any such interest which is not paid when due date thereofshall, or if Lessee to the maximum extent permitted by law, accrue interest until paid at the rate from time to time applicable to interest on the Debentures as to which the Conversion Default has occurred. In the event the Company pays any interest on the Debentures and it is determined that such interest was paid at a rate in excess of the legal maximum rate, then that portion of the interest payment representing an amount in excess of the legal maximum rate shall default in the performance of any other agreement (other than be deemed a payment of rent) in this Lease principal and such default (other than payment of rent), continues for ten days after written notice thereof, or if shall be applied against the Premises be vacated or abandoned, then in any such event this Lease shall terminate, at the option principal of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyDebenture.

Appears in 2 contracts

Sources: Convertible Subordinated Debenture (Ross Systems Inc/Ca), Convertible Subordinated Debenture (Ross Systems Inc/Ca)

Default. If default any party hereunder shall fail to perform any of the material covenants and agreements contained herein and such condition or failure continues for a period of ten (10) days (or such additional period as may be reasonably required to effectuate a cure of the same) after written notice thereof from the other party hereto, the non-defaulting party may terminate this Agreement, in which event the prorated amount of the developer fees earned to date pursuant to Section 6 above by Harbor, if Harbor is made in the non-defaulting party, shall become immediately due and payable to Harbor, and shall be paid within ten (10) days of the defaulting party’s receipt of written notice of such termination. If Owner is the non-defaulting party and elects to terminate this Agreement as set forth above, as an additional remedy, Owner shall have the right to terminate the Management Agreement without payment of any installment termination fee or other fees that accrue after the date of rent on termination. If Harbor is the due non-defaulting party and elects to terminate this Agreement as set forth above, then Harbor shall be entitled to: (a) Immediate release from any construction-related guaranty and indemnification by Owner from and against any and all claims thereunder arising from and after the date thereof, or if Lessee shall default of termination; (b) Payment of all monies held in the performance of any other agreement Developer Holdback Account; (other than payment of rentc) in this Lease and such default (other than payment of rent), continues for ten days after written notice thereof, or if the Premises be vacated or abandoned, then in any such event this Lease shall terminate, at the option Payment of the Lessor, balance of the portion of its Development Fee owed for work performed through termination; (d) To terminate the Management Agreement; and (e) To exercise any and Lessor may re-enter the Premises and take possession thereof, with all of its rights at law or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable in equity to Lessee for any recover additional damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding against Owner. Upon termination of this Lease and re-entry by Agreement pursuant to this Section 10, except as set forth in the Lessor that the Lessee preceding paragraphs, neither party shall remain liable for a sum equal have any further liability or obligation to the entire rent payable other pursuant to this Agreement, except for provisions (if any) that survive termination. If any lawsuit or other legal proceeding arises in connection with the end enforcement of this Agreement, the Term hereof prevailing party therein shall be entitled to receive from the non-prevailing party the prevailing party’s costs and shall pay any loss or deficiency sustained by the Lessor expenses, including reasonable attorneys’ fees, incurred in connection therewith, in preparation therefore and on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the sameappeal therefrom, which differences amounts shall accrue and be payable monthlyincluded in any judgment therein.

Appears in 2 contracts

Sources: Development Agreement, Development Agreement (CNL Healthcare Trust, Inc.)

Default. (a) If default Sublessee shall fail to pay any rent or Additional Rent to Sublessor within ten (10) days after the same is made in due and payable under the payment terms of any installment this Sublease and following the passage of rent on the due date thereoften (10) days notice of such failure by Sublessor, or if Lessee the Sublessee shall default in the performance of fail to perform any other agreement (other than payment of rent) in duty or obligation imposed upon it by this Lease Sublease and such default shall continue for a period of thirty (other than payment of rent), continues for ten 30) days after written notice thereofthereof has been given to Sublessee by Sublessor (except where Sublessee has diligently begun to correct such other duties or obligations within such period and continues to cure such default on a diligent basis), or if the Sublessee shall be adjudged bankrupt, or shall make a general assignment for the benefit of its creditors, or if a receiver of any property of Sublessee in or upon the Subleased premises be appointed in any actions, suit, or proceeding by or against Sublessee, or if the interest of Sublessee in the Subleased Premises shall be vacated sold under execution or abandonedother legal process, then and in any such event this Lease Sublessor shall terminatehave the right to enter upon the Subleased Premises and again have, at the option of the Lessorrepossess, and Lessor may enjoy the same as if this Sublease had not been made, and thereupon this Sublease shall terminate without prejudice, however, to the right of Sublessor to recover from Sublessee all rent due and unpaid up to the time of such re-enter entry. In the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service event of notice, demand or legal process being hereby expressly waived, and upon any such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease default and re-entry by entry, Sublessor shall have the Lessor that right to relet the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Subleased Premises being let for the remainder of the original then existing term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let whether such term be the Leased Premises initial term of this Sublease or any part thereof for the remainder of the Term renewed or for any longer or shorter period as opportunity may offerextended term, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay recover from Sublessee the difference between sum equal the rent reserved by this Sublease and the amount obtained through such reletting less the costs and expenses reasonably incurred by Sublessor in such reletting. Sublessor hereby expressly reserves all other rights and remedies available to it, whether at law or equity. (b) If any rent (including Additional Rent) shall not be paid within ten (10) days after due, in addition to, and without waiving or releasing any other rights and remedies of Sublessor, a late charge of one and one-half percent (1.5%) per month on the amount of such rent shall become immediately due and payable during to Sublessor, as liquidated damages for Sublessee's failure to make prompt payment, and the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences same shall accrue and be payable monthlyconsidered as additional rent.

Appears in 2 contracts

Sources: Sublease (Mastech Corp), Sublease (Mastech Corp)

Default. (a) If the Lessee shall, at any time, be in default is made in of the payment of either rent or any installment payments required of rent on Lessee hereunder or any part thereof, Lessor shall provide written notice of such default and Lessee shall have three days subsequent to the due date thereofissuance of said notice to cure the monetary default before Lessor may invoke any other remedies available under the terms of this Lease, or if Lessee shall be in default in the performance of any of the other agreement (other than payment covenants and conditions of rent) in this Lease to be kept, observed, and such default performed by Lessee for more than thirty (other than payment of rent), continues for ten 30) days after the giving of written notice thereofby the Lessor to the Lessee of such default, provided, however, that if the nature of the specified obligation(s) is such that more than thirty (30) days are required for performance, then lessee shall not be in default if it commences performance within such 30 day period and thereafter diligently prosecutes the same to completion, or if Lessee shall vacate or abandon the Premises premises, or fail to take possession of the premises and actively operate its business therein, or if Lessee shall be vacated adjudged a bankrupt, or abandonedif a receiver or trustee shall be appointed and shall not be discharged within thirty (30) days from the date of such appointment, then and in any such event this Lease shall terminate, at events the option of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with leased premises by summary proceedings or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waivedotherwise, and upon such entry, as aforesaid, this Lease shall terminate thereupon may expel all persons and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicableremove all property therefrom, without being becoming liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and may, among other remedies elect: (i) to relet said premises as the Lessee expressly agreesagent of the Lessee, notwithstanding termination and reserve the rent therefrom, applying the same first to the payment of this Lease the reasonable expense of such reentry, and re-entry by then to the Lessor that payment of the rent accruing hereunder; but whether or not the leased premises are relet, the Lessee shall remain liable for a sum equal to the entire equivalent of all rent and other charges provided for under this Lease, plus the cost of reletting, if any, which said amount shall be due and payable to the end Lessor as damages, or rent, as the case may be, on the successive monthly rent days hereinabove provided; or (ii) To terminate this Lease and immediately resume possession of the Term hereof leased premises, wholly discharged from any obligations under the term of this Lease, and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let enter and repossess said premises, free form any and all claims on the Leased Premises or any part thereof for the remainder of the Term Lessee. Termination of the Lease does not discharge or in any way affect Lessee's obligation to pay Lessor all the rents or other charges or payments accruing under the Lease up to the date of termination. (b) Lessor shall not be in default unless it fails to perform the obligations required of Lessor by this Lease Agreement within thirty (30) days after written notice by Lessee to Lessor specifying which obligation(s) Lessor has failed to perform. Provided, however, that if the nature of the specified obligation(s) is such that more than thirty (30) days are required for any longer performance, then Lessor shall not be in default if it commences performance within such 30-day period and thereafter diligently prosecutes the same to completion. If Lessor has not cured or shorter period as opportunity commenced to cure the default set forth in said notice within said 30-day period, Lessee may offerat his option either (i) cure such default and deduct the reasonable costs and expenses incurred from the next and succeeding rent payment(s) or (ii) cancel this Lease and, in such event, this Lease shall thereupon cease, terminate, and come to an end with the same force and effect as though the original demised term had expired at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlythat time.

Appears in 2 contracts

Sources: Lease Agreement (Express Scripts Inc), Lease Extension and Amendment Agreement (Express Scripts Inc)

Default. If default is made 10.1 Subtenant acknowledges that certain services to be rendered to the Premises are to be rendered by Overlandlord under the Over▇▇▇▇▇. ▇▇ything in this Sublease to the contrary notwithstanding, if there exists a breach by Sublandlord of any of its obligations under this Sublease and, concurrently, a corresponding breach by Overlandlord under the Over▇▇▇▇▇ ▇▇ its obligations under the Over▇▇▇▇▇ ▇▇▇sts, then and in such event, Subtenant's sole remedy against Sublandlord in the payment event of any installment breach of rent on obligations under this Sublease shall be the due date right to pursue a claim in the name of Sublandlord against Overlandlord, and Sublandlord agrees that it will, at Subtenant's expense, cooperate with Subtenant in the pursuit of such claim. 10.2 Anything contained in any provisions of this Sublease to the contrary notwithstanding, Subtenant agrees, for the benefit of both Sublandlord and Overlandlord, with respect to the Premises, to comply with and remedy any default claimed by Overlandlord under the Over▇▇▇▇▇ ▇▇▇ caused by Subtenant, within the period allowed to Sublandlord as tenant under the Over▇▇▇▇▇, ▇▇en if such time period is shorter that the period otherwise allowed in the Over▇▇▇▇▇, ▇▇e to the fact that notice of default from Sublandlord to Subtenant is given after the corresponding notice of default from Overlandlord. Sublandlord agrees to forward to Subtenant, upon receipt thereof by Sublandlord, a copy of each notice of default received by Sublandlord in its capacity as tenant-under the Over▇▇▇▇▇. ▇▇btenant agrees to forward to Sublandlord, upon receipt thereof, copies of any notices received by Subtenant with respect to the-Premises from Overlandlord or if Lessee shall from any governmental authorities. Sublandlord and Subtenant each agree to indemnify and hold the other harmless from and against all claims, penalties and expenses, including reasonable attorneys' fees, based upon any uncured default in by such party during the term hereof and its performance of those terms, covenants and provisions of the Over▇▇▇▇▇ ▇▇▇ch are or shall be applicable to such party. 10.3 Subtenant acknowledges that upon breach of any provisions of this Sublease by Subtenant, any rights or options granted to Subtenant under this Sublease or the Over▇▇▇▇▇ ▇▇▇ating to expansion, renewal, or any other agreement equity option, shall immediately terminate and shall not be exercisable for the remainder of the Sublease term. If and whenever there shall occur any event of default of this Sublease, beyond any applicable cure period, Sublandlord may, at Sublandlord's option, in addition to any other remedy or right given under the Over▇▇▇▇▇ ▇▇ by law or equity, do any one or more of the following:. (a) Terminate this Sublease without notice to Subtenant, in which Subtenant shall immediately surrender possession of the Premises to Sublandlord; (b) Terminate Subtenant's right to possession of the Premises under this Sublease without terminating the Sublease itself, by written notice to Subtenant in which event Subtenant shall immediately surrender possession of the Premises to Sublandlord (c) Enter upon and take possession of the Premises and expel or remove Subtenant and any other than payment occupant therefrom, with or without having terminated this Sublease; (d) Alter locks and other security devices at the Premises with or without having terminated this Sublease or Subtenant's right to possession under the Sublease; (e) Enter upon the Premises by force if necessary without being liable for prosecution or any claim for damages therefor, and do whatever Subtenant is obligated to do under the terms of rentthis Sublease; and Subtenant agrees to reimburse Sublandlord on demand for any direct or indirect expenses which Sublandlord or Overlandlord may incur in thus effecting compliance with Subtenant's obligations under this Sublease, and Subtenant further agrees that Sublandlord shall not be liable for any damages resulting to Subtenant from such action; (f) Accelerate all rental payments due under the Sublease for the. remainder of the Sublease Term. Sublandlord shall use reasonable diligence to relet the Premises after such default by Subtenant, and the net proceeds of such reletting (after deducting reasonable expenses) shall be credited against the amount due under the Sublease. 10.4 It is hereby expressly stipulated by Sublandlord and Subtenant that any of the above listed actions including, without limitation, termination of this Sublease, termination of Subtenant's right to possession, and re-entry by Sublandlord, will not affect the obligations of Subtenant for the unexpired Sublease Term, including the obligations to pay unaccrued monthly rentals and other charges provided in this Lease Sublease for the remaining portion of the Sublease Term. If an event of default occurs, and such default (other than payment is not cured within -the applicable cure period, if any, Sublandlord is entitled and is hereby authorized, without notice to Subtenant, to enter upon the Premises by use of rent)a master key, continues for ten days after written notice thereofa duplicate key, or if other peaceable means, and to change, alter, and/or modify the door locks on all entry doors of the Premises, thereby permanently excluding Subtenant, and its officers, principals, agents, employees, and representatives therefrom. In the event that Sublandlord has either terminated Subtenant's right to possession of the Premises pursuant to the foregoing provisions of this Sublease, or has terminated the Sublease by reason of Subtenant's default, Sublandlord shall not thereafter be vacated or abandonedobligated to provide Subtenant with a key to the Premises at any time; provided, then however, that in any such event this Lease shall terminateinstance, during Sublandlord's normal business hours and at the option convenience of the LessorSublandlord, and Lessor upon the written request of Subtenant accompanied by such written waiver and releases as the Sublandlord may require, Sublandlord will escort Subtenant or its, authorized personnel to the Premises to retrieve any personal belongings or other property of Subtenant. If Sublandlord elects to exclude Sub tenant from the Premises without permanently repossessing the Premises or terminating the Sublease pursuant to the foregoing provisions of this Sublease, the Sublandlord (at any time prior to actual permanent repossession or termination) shall not be obligated to provide Subtenant a key to re-enter the Premises until such time as all delinquent rental and take possession thereofother amounts due under this Sublease have been paid in full (and all other defaults, with or without force or legal process and without notice or demandif any, the service of notice, demand or legal process being hereby expressly waivedhave been completely cured to Sublandlord's satisfaction), and upon Sublandlord has been given assurance reasonably satisfactory to Sublandlord evidencing Subtenant's ability to satisfy its remaining obligations under this Sublease. During any such entrytemporary period of exclusion, as aforesaidSublandlord will, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offerduring Sublandlord's regular business hours, and at Sublandlord's convenience, upon written request by Subtenant accompanied by such rental waivers and releases as the Sublandlord may require, escort Subtenant or its authorized personnel to the Premises to retrieve personal belongings of Subtenant or its employees. This remedy of Sublandlord shall be obtainedin addition to, and not in lieu of, any of its other remedies set forth in this Sublease, the Over▇▇▇▇▇, ▇agrees otherwise available to pay Sublandlord at law or in equity. 10.5 Exercise by Sublandlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the difference between sum equal Premises by Subtenant, whether by agreement or by operation of law, it being understood that such surrender can be effected only by the written agreement of Sublandlord and Subtenant. No such alteration of locks or other security devices and no removal or other exercise of dominion by Sublandlord over the property of Subtenant or others at the Premises shall be deemed unauthorized or constitute a conversion, Subtenant hereby consenting, after any event of default, to the amount aforesaid exercise of rent payable during dominion over Subtenant's property within the residue Premises. All claims for damages by reason of such re-entry and/or repossession and/or alteration of locks or other security devices are hereby waived, as are all claims for damages by reason of any distress warrant, forcible detainer proceedings, sequestration proceedings or other legal process. Subtenant 'agrees that any re-entry by Sublandlord may be pursuant to a judgment obtained in forcible detainer proceedings or other legal proceedings without the Term necessity for any legal proceedings, as Sublandlord may elect, and net rent received Sublandlord shall not be liable in trespass or otherwise. 10.6 Neither Subtenant nor Sublandlord shall be liable for consequential damages caused by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlysuch party's default under this Sublease.

Appears in 2 contracts

Sources: Sublease Agreement (Wink Communications Inc), Sublease Agreement (Wink Communications Inc)

Default. If That in the event default is made in the payment of any installment of rent on the due date thereof, or if Lessee shall default in the performance of any other agreement (other than payment of rent) in this Lease , or any part thereof, and such default (other than payment of rent), continues for ten Seven (7) days after notice of such non-payment has been delivered to the Tenant, or in the case of non-performance or non-observance on the part of the Tenant of any covenant, condition, restriction or stipulation herein contained, expressed or implied, which ought to be observed or performed by the Tenant, and which has not been expressly waived in writing by the Landlord, and such non-performance or non-observance continues for Seven (7) days after notice of such default has been delivered to the Tenant, then the Landlord may at its option in addition to exercising any other remedy available to it in law, remedy and defect or default by the Tenant and charge to the Tenant as Additional Rent such cost and/or cancel this lease by written notice thereofto the Tenant and, or if the Premises be vacated or abandoned, then in any one or more of such event this Lease shall terminatecases, at the option all rights and interest hereby created or then existing in favour of the LessorTenant or derived under this lease, shall thereupon cease and determine, and Lessor the Landlord may re-enter into and upon the Demised Premises and take possession thereofto repossess and enjoy the same of its former estate, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal anything herein to the entire rent payable to contrary notwithstanding, or the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice Landlord may re-let the Leased Demised Premises or any part thereof as agent for the remainder Tenant; PROVIDED, HOWEVER, that in case of such cancellation and re-entry, the Tenant shall continue to be liable to pay and the Landlord shall have the same remedy for the recovery of any rent then due or accruing due as if this lease had not been cancelled, together with interest at the rate of Eighteen percent (18%) per annum on any overdue rent, but remained in full force and effect, and further, that any right of action of the Term or for Landlord against the Tenant in respect of any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount antecedent breach of rent payable during the residue any of the Term said covenants, conditions, restrictions and net rent received by stipulations shall not thereby be prejudiced; PROVIDED FURTHER, the Lessor during Landlord reserves any and all legal remedies and rights of action for damages against the Term after deducting all expenses Tenant for breach of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlylease.

Appears in 2 contracts

Sources: Lease Agreement (Pinnacle Oil International Inc), Lease Agreement (Pinnacle Oil International Inc)

Default. If default is made in the payment of any installment of rent on the due date thereof, or if Lessee LESSEE shall default in the performance of any other agreement Agreement (other than payment of rent) in this Lease and such default (other than payment of rent), ) continues for ten 30 days after written notice thereof, or if the Leased Premises be vacated or abandonedabandoned in violation of the terms hereof, then in any such event this Lease shall terminate, at the option of the LessorLESSOR, and Lessor LESSOR may re-enter the Leased Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor LESSOR may exclude Lessee LESSEE from the Leased Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee LESSEE for any damages or for prosecution therefor; Lessor’s therefore, LESSOR's rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee LESSEE shall remain liable for a sum equal to the entire rent payable to the end of the Term term hereof and shall pay any loss or deficiency sustained by the Lessor LESSOR on account of the Leased Premises being let for the remainder of the original then current term for a sum less sum than beforethe amount due hereunder. LessorLESSOR, as agent for LesseeLESSEE without notice, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term then current term for a sum less than the amount due hereunder. LESSOR, as agent for LESSEE without notice, may re-let the Leased Premises or any part thereof for the remainder of the term or for any longer or shorter period as opportunity may offer, and at such rental rentals as may be obtained, and ▇▇▇▇▇▇ LESSEE agrees to pay the difference between a sum equal to the amount of rent payable during the residue of the Term term and the net rent actually received by the Lessor LESSOR during the Term term after deducting all expenses of every kind for repairs, recovering possession and reletting re-letting the same, which differences difference shall accrue and be payable monthly.

Appears in 2 contracts

Sources: Lease (Atlantic Express Transportation Corp), Lease Agreement (Atlantic Express Transportation Corp)

Default. If default is made in All of the payment following events shall be deemed an Event of any installment Default hereunder: (a) failure of rent on Sublessee to pay the Base Rent, Additional Rent or other sums due date thereof, or if Lessee hereunder as and when the same shall default in be due and payable and the performance continuance of any other agreement such failure for five (other than payment of rent5) in this Lease and such default (other than payment of rent), continues for ten days after written notice thereofthereof from Sublessor; (b) failure of Sublessee to perform any of the obligations required to be performed on its part in this Sublease or the Lease and the continuance of such failure for thirty (30) days after written notice thereof from Sublessor; provided that no Event of Default shall exist hereunder if such default or failure by its nature cannot be cured within thirty (30) days by reasonable effort and if Sublessee commences to cure such default or failure within said thirty (30) day period and thereafter diligently pursues such cure and completes such cure within one hundred twenty (120) days after the initial written notice from Sublessor; (c) the existence of a hazardous condition and the failure to cure the same promptly upon written notice to Sublessee; (d) any voluntary petition or similar pleading under any bankruptcy act or under any Federal or State law seeking reorganization or arrangement with creditors or adjustment of debts, is filed by or against Sublessee, or if the Premises be vacated or abandoned, then in any such event this Lease shall terminate, at the option of the Lessorpetition or pleading is involuntary, and Lessor may re-enter the Premises and take possession thereofit is not adjudicated favorably to Sublessee within sixty (60) days after its filing; (e) Sublessee admits its inability to pay its debts, with or without force or legal process and without notice or demandif a receiver, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer trustee or other proper legal actioncourt appointee is appointed for all or a substantial part of Sublessee's property; (f) Sublessee makes an assignment for the benefit of creditors, and the Lessee expressly agrees, notwithstanding termination or if any proceedings are filed by or against Sublessee to declare Sublessee insolvent or unable to meet its debts; (g) a receiver or similar type of this Lease and re-entry by the Lessor that the Lessee shall remain liable appointment of court appointee or nominee of any name or character is made for a sum equal Sublessee or its property; (h) Sublessee assigns or subleases its interest herein contrary to the entire rent payable provisions of Article VII hereof; or (i) an event of default (after the expiration of any applicable cure period) has occurred under the Lease due to the end acts or omissions of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlySublessee.

Appears in 1 contract

Sources: Sublease Agreement (SPSS Inc)

Default. If default is made in the payment A. The occurrence of any installment one or more of rent on the following events shall constitute a default hereunder by TENANT (an “Event of Default”): 1. If Base Rent or Additional Rent is not paid within five (5) days after it is due date thereof, or if Lessee and payable; 2. If TENANT shall have failed to cure a default in the performance of any of the other agreement terms, covenants or provisions of this Lease (other than except payment of rent) in this Lease and such default or any rule or regulation hereinafter set forth within fifteen (other than payment of rent), continues for ten 15) days after written notice thereof, or if the Premises such default is of a nature that it cannot be vacated or abandoned, then in any such event this Lease shall terminate, at the option of the Lessorcompletely remedied within said fifteen (15) day period, and Lessor TENANT shall not commence within said fifteen (15) days and shall not thereafter diligently procure to completion all steps necessary to remedy such default; 3. If a petition in bankruptcy shall be filed by or against TENANT or if TENANT shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; 4. If a receiver or trustee is appointed for any portion of TENANT’S property and such appointment is not vacated within sixty (60) days; 5. If an execution or attachment shall be issued under which the Demised Premises shall be taken or occupied or attempted to be taken or occupied by anyone other than TENANT; 6. If the Demised Premises become and remain vacant, deserted or abandoned for a period of thirty (30) consecutive days; 7. If the Demised Premises are used for some purpose other than the use specifically authorized herein. B. If TENANT shall default in performing any covenant or condition of this Lease, LANDLORD may re-enter perform the Premises and take possession thereof, with or without force or legal process and without notice or demand, same for the service account of notice, demand or legal process being hereby expressly waivedTENANT, and upon such entry, as aforesaid, this Lease TENANT shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee reimburse LANDLORD for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, expense incurred therefor as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyadditional rent.

Appears in 1 contract

Sources: Lease Agreement (Bankrate Inc)

Default. If default is made 7.1 Sublessee shall pay a penalty of 5% of the Rent amount due as a late fee in the payment of any installment of rent on event Rent payments are received by the Sublessor more than 10 days after the due date thereoffor the Rent. If the Sublessor does not receive the Rent payment within 15 days after its due date, then the Sublessee shall owe interest on the amount due at an interest rate that is the lesser of one and one-half percent (1.5%) per month, or if Lessee the maximum rate allowed by law, on all Rent not paid when due, from the due date until the payment is fully paid and satisfied. Sublessee shall indemnify Sublessor and Master Lessor against all costs and charges (including legal fees) lawfully and reasonably incurred in enforcing payment of the Rent, and in obtaining possession of the Subleased Premises after default of the Sublessee or upon expiration or earlier termination of the Term of this sublease. 7.2 All covenants and agreements to be performed by the Sublessee under any of the terms of this Sublease shall be performed by the Sublessee at Sublessee's sole cost and expense, and without any abatement of Rent. If Sublessee fails to perform any act on its part to be performed hereunder, and such failure shall continue for 10 days after notice thereof from Sublessor, Sublessor may perform such act (but shall not be obligated to do so) without waiving or releasing Sublessee from any of its obligations relative thereto. All reasonable sums paid or costs incurred by Sublessor in so performing such acts together with interest thereon at the performance rate set in paragraph 7.1 herein from the date payment was made or each cost incurred by the Sublessor shall be payable by Sublessee to Sublessor on demand. 7.3 The following events shall be deemed events of default by Sublessee under this Sublease: (a) part or all of the Rent is not paid when due and Sublessee has not paid the Rent within five (5) days after receipt of a written notice from the Sublessor, or (b) Sublessee becomes insolvent or commits an act of bankruptcy or becomes bankrupt or takes benefit of any other agreement (other than payment statute that may be in force for bankrupt or insolvent debtors or becomes involved in involuntary or involuntary winding-up proceedings or if a receiver is appointed for the business, property, affairs or revenues of rent) in this Lease and such default (other than payment of rent), continues for ten days after written notice thereofSublessee, or if (c) Sublessee ceases to conduct business from the Premises Subleased Premises, or (d) Sublessee fails to observe, perform, and keep each and every material covenant, agreement, provision, stipulation and condition herein contained to be vacated observed, performed, and kept by Sublessee. 7.4 Upon the occurrence of any event of default by Sublessee, Sublessor shall have, in addition to other remedies available to Sublessor at law or abandonedin equity, then in any such event this Lease shall terminate, at the option to pursue any one or more of the Lessorfollowing remedies (each and all of which shall be cumulative and non-exclusive) without any notice or demand whatsoever: (a) Terminate this Sublease, in which case Sublessee shall immediately surrender the Subleased Premises to Sublessor, and Lessor if Sublessee fails to do so, Sublessor may re-enter the Premises and take possession of the Subleased Premises and expel or remove the Sublessee and any other person who may be occupying the Subleased Premises or any part thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution thereforor any claim or damages therefore; Lessor’s rights in and Sublessor may recover from Sublessee the following: (i) the worth at the time of award of any unpaid Rent which has been earned at the time of termination, plus (ii) the worth at the time of award of the amount by which the unpaid Rent which would have been earned after termination until the time of award exceeds the amount of such event may be enforced loss of Rent that Sublessee proves could have been reasonably avoided; plus (iii) the worth at the time of award by action in unlawful detainer or other proper legal action, and which the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by unpaid Rent for the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end balance of the Term hereof after the time of award exceeds the amount of such loss of rent that Sublessee proves could have been reasonably avoided; plus (iv) any other amount necessary to compensate Sublessor for all the detriment proximately caused by Sublessee's failure to perform its obligations under this Sublease; and shall pay any loss (v) at Sublessor's election, such other amounts in addition to or deficiency sustained in lieu of the foregoing as may be permitted from time to time by the Lessor applicable law. (b) If Sublessor does not elect to terminate this Sublease on account of any default by Sublessee, Sublessor may, from time to time, without terminating this Sublease, enforce all of its rights and remedies under this Sublease, including the right to recover all Rent as it becomes due. (c) If the Sublessee defaults under this agreement, Sublessor shall have the right to terminate any and all subleases, licenses, concessions or other arrangements for possession entered into by Sublessee and affecting the Subleased Premises being let for or may, in Sublessor's sole discretion, succeed to Sublessee's interest in such subleases, licenses, concessions or arrangements. In the remainder event of Sublessor's election to succeed to Sublessee's interest in any such subleases, licenses, concessions or arrangements, Sublessee shall, as of the original term for a less sum than before. Lessordate of notice by Sublessor of such election, as agent for Lessee, without notice may re-let have no farther right to or interest in the Leased Premises rent or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyother consideration receivable thereunder.

Appears in 1 contract

Sources: Sublease Agreement (Ramp Networks Inc)

Default. (a) Any of the following events shall constitute an Event of Default by Tenant: (i) If default the rent (basic or additional) shall be in arrears, in whole or in part for more than five (5) business days after written notice; or (ii) If Tenant shall have failed to perform or comply with any other term, condition, or covenant of this Lease on its part to be performed or complied with, for a period of thirty (30) days after notice of such failure from Landlord; or (iii) If the premises are vacant, unoccupied or deserted for a period of fifteen (15) days or more at any time during the term of this Lease; or (iv) If there shall occur an Act of Bankruptcy, as defined in Section 38 hereof; or (v) If Tenant’s leasehold interest under this Lease is made in the payment sold under execution, attachment or decree of court to satisfy any installment debt of rent on the due date thereofTenant, or if Lessee any lien (including a mechanic’s lien) is filed against Tenant’s leasehold interest and is not discharged within ten (10) days thereafter. (b) Upon the happening of an Event of Default as defined in paragraph (a) hereof, Landlord, in addition to any and all legal and equitable remedies it may have, shall have the following remedies: (i) To distrain for any rent or additional rent in default; (ii) At any time after an Event of Default, without notice, to declare this Lease terminated and enter the premises with or without legal process; and in such event Landlord shall have the benefit of all provisions of law now or hereafter in force respecting the speedy recovery of possession from Tenant’s holding over or proceedings in forcible entry and detainer, and Tenant waives any and all provisions for notice under such laws; and (iii) At any time after an Event of Default, without notice, to re-enter the premises without terminating the Lease, with the benefit of all laws referred to in clause (ii) above. Notwithstanding such re-entry and/or termination, Tenant shall immediately be liable to Landlord for the sum of the following: (a) all rent and additional rent then in arrears, without apportionment to the termination date; (b) all other liabilities of Tenant and damages sustained by Landlord as a result of Tenant’s default, including, but not limited to, the reasonable costs of reletting the premises and any broker’s commissions payable as a result thereof; (c) all of Landlord’s costs and expenses (including reasonable counsel fees) in connection with such default and recovery of possession; (d) the difference between the rent reserved under this Lease for the balance of the term and the fair rental value of the premises for the balance of the term to be determined as of the date of re-entry; or at Landlord’s option in lieu thereof, Tenant shall pay the performance amount of the rent and additional rent reserved under this Lease at the times herein stipulated for payment of rent and additional rent for the balance of the term, less any amount received by Landlord during such period from others to whom the premises may be rented on such terms and conditions and at such rentals as Landlord, in its sole discretion, shall deem proper; and (e) any other agreement damages recoverable by law. In the event Landlord brings any action against Tenant to enforce compliance by Tenant with any covenant or condition of this Lease, including the covenant to pay rent, and it is judicially determined that Tenant has defaulted in performing or complying with any such covenant or condition, then and in such event, Tenant shall pay to Landlord all costs and expenses incurred by Landlord in bringing and prosecuting such action against Tenant, including Landlord’s attorney’s fees. (c) Tenant hereby waives any right to recover possession of the premises or to redeem or reinstate this Lease, which the Tenant would otherwise have after Landlord recovers possession of the premises in accordance with this Section 13. (d) In the event Tenant fails to pay Landlord any rental payment or other than charge due hereunder on the date due, Tenant shall pay a late charge equal to fifteen percent (15%) of the rental payment of rentor other such charge, which late charge shall be collectible as additional rent and shall be payable by Tenant to Landlord within five (5) in this Lease and such default (other than payment of rent), continues for ten days after written notice thereoffrom Landlord to Tenant assessing the same. In addition, or if the Premises be vacated or abandoned, then in any such event this Lease rental payment or other charge which is delinquent for five (5) days or more, shall terminate, at the option of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee bear interest from the Premises, changing date on which same was due at a rate equal to four (4) percentage points above the lock prime rate of interest published by the Wall Street Journal on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal date closest to the entire rent payable to the end of the Term hereof and shall pay date on which any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlypayment was due.

Appears in 1 contract

Sources: Lease (Tessco Technologies Inc)

Default. If default is made In the event the Lessee fails to perform any of the terms, conditions, and covenants in the manner and at the time or times required, including but not limited to, the payment in full of any installment of rent rental payment or the reimbursement on the due date thereofLessor of any disbursement made hereunder, or if Lessee shall default any proceeding in bankruptcy or insolvency is instituted by or against the performance of any other agreement (other than payment of rent) in this Lease and such default (other than payment of rent), continues for ten days after written notice thereofLessee, or if reorganization of the Premises Lessee is sought under any statute, state or federal, or a receiver appointed for the goods and chattels of the Lessee, or the Lessee makes an assignment for the benefit of creditors or makes an attempt to sell, secrete, convert, or remove the Furniture and Fixtures or if any distress, execution, or attachment be vacated levied thereon, or abandoned, then the equipment be encumbered in any such event way, or if at any time in the Lessor's judgment its rights in the Furniture and Fixtures shall be threatened or rendered insecure, the Lessee shall be deemed to be in default under this Lease Agreement, and the Lessor shall terminate, at have the option right to exercise either of the Lessor, following remedies: (a) To declare the balance of the rental payable hereunder to be due and Lessor may re-enter payable whereupon the Premises same shall become immediately due and take possession thereof, with or payable; or (b) To retake and retain the Furniture and Fixtures without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waivedprocess, and upon such entryfree of all rights of the Lessee, as aforesaid, this Lease shall terminate and in which case the Lessee authorized the Lessor may exclude Lessee from or its agents to enter upon any premises where the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event Furniture and Fixtures may be enforced by action in unlawful detainer or other proper legal action, found for the purpose of repossessing the same and the Lessee expressly agrees, notwithstanding termination specifically waives any right of this Lease action it might otherwise have arising out of such entry and re-entry by repossession whereupon all rights of the Lessee in the Furniture and Fixtures shall terminate immediately. If the Lessor that retakes possession of the Furniture and Fixtures and at the time of such retaking there shall be in, upon or attached to the Furniture and Fixtures any property, goods or things of value belonging to the Lessee shall remain liable for a sum equal to or in the entire rent payable to custody or under the end control of the Term hereof and shall pay any loss or deficiency sustained by Lessee, the Lessor on account is hereby authorized to take possession of such property, goods, or things of value and hold the Premises being let same for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof place such property, goods or things of value in public storage for the remainder of account of, in at the Term or for any longer or shorter period as opportunity may offerexpense of, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyLessee.

Appears in 1 contract

Sources: Furniture and Fixtures Lease Renewal Agreement (Casella Waste Systems Inc)

Default. If default is made in a Registration Event occurs, then the payment Company will make payments to each Purchaser, as partial liquidated damages for the minimum amount of any installment of rent on damages to the due date Purchaser by reason thereof, and not as a penalty, at a rate equal to one percent (1%) of the Offering Price per share of Common Stock held by such Purchaser per month, for each calendar month of the Registration Default Period (pro rated for any period less than 30 days); provided, however, if a Registration Event occurs (or if Lessee shall default in is continuing) on a date more than one year after the performance of any other agreement Purchaser acquired the Registrable Securities (other than payment of rentand thus the one year holding period under Rule 144(d) in this Lease and such default (other than payment of renthas elapsed), continues liquidated damages shall be paid only with respect to that portion of a Purchaser’s Registrable Securities that cannot then be immediately resold in reliance on Rule 144; and provided, further, that in no event shall the aggregate liquidated damages payable by the Company to any Purchaser exceed 20% of the aggregate Offering Price paid by such Purchaser for ten all shares of Common Stock acquired by such Purchaser pursuant to the Subscription Agreement. Each such payment shall be due and payable within five days after written notice thereof, or if the Premises be vacated or abandoned, then in any such event this Lease shall terminate, at the option of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of each calendar month of the Term hereof Registration Default Period until the termination of the Registration Default Period and within five days after such termination. Such payments shall be in partial compensation to the Purchaser, and shall pay any loss not constitute the Purchaser’s exclusive remedy for such events. The Registration Default Period shall terminate upon (i) the filing of the Registration Statement in the case of clause (a) of the definition of “Registration Event,” (ii) the SEC Effective Date in the case of clause (b) of the definition of “Registration Event,” and (iii) the ability of the Purchaser to effect sales pursuant to the Registration Statement in the case of clause (c) of the definition of “Registration Event,” and (iv) in the case of the events described in clauses (b) and (c) of the definition of “Registration Event,” the earlier termination of the Registration Default Period. The amounts payable as partial liquidated damages pursuant to this paragraph shall be payable in lawful money of the United States. Amounts payable as partial liquidated damages to each Purchaser hereunder with respect to each share of Registrable Securities shall cease when the Purchaser no longer holds such share of Registrable Securities or deficiency sustained such share of Registrable Securities can be immediately sold by the Lessor Purchaser in reliance on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyRule 144.

Appears in 1 contract

Sources: Registration Rights Agreement (National Coal Corp)

Default. If the Tenant shall: (a) default is made in the payment of the annual rent reserved herein or any installment item or additional other payment herein provided; or (b) default in the observance of rent on any of the due date thereofother terms, covenants and conditions of this lease and such default shall continue for more than fifteen (15) days after such written notice of such default, or if Lessee the demised premises shall be abandoned, deserted or vacated, or if this lease shall be assigned or pass to or devolve upon one other than Tenant, except as herein provided, or if the entire demised premises shall be abandoned or deserted or be occupied by someone other than Tenant; or (c) if any tenant then in possession of the demised premises (including but not limited to any assignee or subtenant of Tenant) shall make any assignment for the benefit of creditors or file a voluntary petition in bankruptcy or be by any court adjudicated a bankrupt or take the benefit of any insolvency act or be dissolved, voluntarily or involuntarily, or if a receiver or trustee of Tenant and/or its property shall be appointed in any proceedings other than bankruptcy proceedings and such appointment, if made in proceedings instituted by the tenant then in possession, shall not be vacated within ten (10) days after it has been made, or if made in proceedings instituted by other than the tenant then in possession, shall not be vacated within forty-five (45) days after it has been made, or if Tenant shall fail to move into or take possession of the demised premises upon the Term Commencement Date of which fact Landlord shall be the sole judge; or (d) Tenant shall record or attempt to record this lease or any memorandum, assignment or other instrument relative to this lease; or (e) if Tenant shall default in the performance of any other agreement covenant of this lease (other than payment of including the covenant to pay rent) more than six (6) times, in the aggregate, during the term of this lease, then notwithstanding that such defaults shall have been cured within the period after notice as above provided, any further similar default shall be deemed to be deliberate and Landlord shall not be required to afford Tenant an opportunity to cure such default; then, upon the happening of any one or more of the defaults or events above mentioned in this Lease Paragraph 46, this lease and such default the Term hereof shall upon the date specified in a notice, which date shall be not less than three (other than payment of rent), continues for ten 3) days after written the date of mailing of such notice thereofby Landlord to Tenant, or if wholly cease and expire, with the Premises be vacated or abandoned, then in any such event this Lease shall terminate, at same force and effect as though the option date so specified were the date hereinabove first set forth as the date of the Lessor, and Lessor may re-enter expiration of the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee Term (but Tenant shall remain liable for a sum equal to Landlord as hereinafter provided); and thereupon, or at any time thereafter, Landlord may reenter the entire rent payable to demised premises either by force or otherwise, and have the end possession of the Term hereof and shall pay any loss or deficiency sustained same as of its former estate, and/or may recover possession thereof in the manner prescribed by the Lessor on account of the Premises statute relating to summary proceedings, or similar statutes (but Tenant shall remain liable to Landlord as hereinafter provided), it being let understood that no demand for the remainder of the original term rent and no reentry for a less sum than before. Lessorcondition broken and no notice to quit possession or other notices prescribed by statute shall be necessary to enable Landlord to recover such possession, as agent for Lessee, without but that all right to any such demand and any such reentry and any notice may re-let the Leased Premises to quit possession or any part thereof for the remainder of the Term other statutory notices or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received prerequisites are hereby expressly waived by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyTenant.

Appears in 1 contract

Sources: Lease Rider (Tetragenex Pharmaceuticals, Inc.)

Default. (1) If Tenant defaults in fulfilling any of the covenants of this lease including the covenants for the payment of rent or additional rent (no notice under this Article need be served as a condition for the commencement of a nonpayment summary proceeding); or if the demised premises becomes vacant or deserted "or if this lease be rejected under ss.235 of Title 11 of the U.S. Code (bankruptcy code)" (no prior notice of default need be served in the event this lease is made rejected) or if any execution or attachment shall be issued against Tenant or any of Tenant's property whereupon the demised premises shall be taken or occupied by someone other than Tenant; or if Tenant shall make default with respect to any other lease between Owner and Tenant; or if Tenant shall have failed, after Fifteen (15) days written notice, to redeposit with Owner any portion of the security deposited hereunder which Owner has applied to the payment of any rent and additional rent due and payable hereunder or failed to move into or take possession of the premises within fifteen (15) days after the commencement of the term of this lease, of which fact Owner shall be sole judge; then in any one or more of such events, upon Owner serving a written fifteen (15) days notice upon Tenant specifying the nature of said default and upon the expiration of said fifteen (15) days if Tenant shall have failed to comply with or remedy such default, or if the said default or omission complained of shall be of a nature that the same cannot be completely cured or remedied within said fifteen (15) day period, and if Tenant shall not have diligently commenced during such default within such fifteen (15) day period, and shall not thereafter with reasonable diligence and in good faith, proceed to remedy or cure such default, then Owner may serve a written three (3) days' notice of cancellation of this lease upon Tenant, and upon the expiration of said three (3) days this lease and the term thereunder shall end and expire as fully and completely as if the expiration of such three (3) day period were the day herein definitely fixed for the end and expiration of this lease and the term thereof and Tenant shall then quit and surrender the demised premises to Owner but Tenant shall remain liable as hereinafter provided. (2) If the notice provided for in (1) hereof shall have been given, and the term shall expire as aforesaid: or if tenant shall make default in the payment of the rent reserved herein or any installment item of additional rent on the due date thereof, herein mentioned or if Lessee shall default any part of either or in the performance of making any other agreement (other than payment of rent) in this Lease herein required: then and such default (other than payment of rent), continues for ten days after written notice thereof, or if the Premises be vacated or abandoned, then in any of such event this Lease shall terminateevents Owner may without notice, at the option of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or without demised premises either by force or otherwise, and dispossess Tenant by summary proceedings or otherwise, and the legal process representative of Tenant or other occupant of demised premises and without notice or demandremove their effects and hold the premises as if this lease had not been made, and Tenant hereby waives the service of notice, demand notice of intention to re-enter or to institute legal process being hereby expressly waived, and upon such entry, proceedings to that end. If Tenant shall make default hereunder prior to the date fixed as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door commencement of any renewal or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination extension of this Lease lease, Owner may cancel and re-entry terminate such renewal or extension agreement by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlywritten notice.

Appears in 1 contract

Sources: Lease Agreement (Opus360 Corp)

Default. If 16.1 This Lease and the term and estate hereby granted are subject to the limitation that whenever Tenant shall make an assignment of the property of Tenant for the benefit of creditors, or shall file a voluntary petition under any bankruptcy or insolvency law or any involuntary petition alleging an act of bankruptcy or insolvency shall be filed against Tenant under any bankruptcy or insolvency law, or whenever a petition shall be filed by or against Tenant under the reorganization provisions of the United States Bankruptcy Act or under the provisions of any law of like import, or whenever a petition shall be filed by Tenant under the provisions of any law of like import, or whenever a permanent receiver of Tenant or of or for the property of Tenant shall be appointed, then, Landlord may, (a) at any time after receipt of notice of the occurrence of any such event, and (b) if such event occurs without the acquiescence of Tenant, at any time after the event continues for sixty (60) days, give Tenant a notice of intention to end the term of this Lease at the expiration of five (5) days from the date of service of such notice of intention, and upon the expiration of said five (5) day period, this Lease and the term and estate hereby granted, whether or not the term shall theretofore have commenced, shall terminate with the same effect as if that day were the Expiration Date, but Tenant shall remain liable for damages as provided in Article 18. 16.2 This Lease and the term and estate hereby granted are subject to further limitation as follows: (a) whenever Tenant shall default is made in the payment of any installment of rent on the due date thereoffixed annual rent, or in the payment of any additional rent or any other charge payable by Tenant to Landlord, in either case for ten (10) days after written notice is given to Tenant that such payment shall have become due; or (b) whenever Tenant shall do or permit anything to be done, whether by action or inaction, contrary to or in violation of any of Tenant's obligations, or, the terms, conditions or provisions hereunder, other than Tenant's obligations to pay fixed annual rent or additional rent or other charges under this Lease, and if Lessee such situation shall continue and shall not be remedied by Tenant within twenty (20) days after Landlord shall have given to Tenant a notice specifying the same, or, in the case of a happening or default which cannot with due diligence be cured within a period of twenty (20) days and the continuation of which for the period required for cure will not subject Landlord to the risk of criminal or civil liability (as more particularly described in Article 8 hereof) or termination of any superior lease or foreclosure of any superior mortgage, if Tenant shall not, (i) within said twenty (20) day period advise Landlord of Tenant's intention to duly institute all steps necessary to remedy such situation, (ii) duly institute within said twenty (20) day period, and thereafter diligently and continuously prosecute to completion all steps necessary to remedy the same and (iii) complete such remedy within such time after the date of the giving of said notice of Landlord as shall reasonably be necessary; or (c) whenever any event shall occur or any contingency shall arise whereby this Lease or the estate hereby granted or the unexpired balance of the term hereof would, by operation of law or otherwise, devolve upon or pass to any person, firm, corporation or other entity other than Tenant, except as expressly permitted by Article 11; or (d) whenever Tenant shall abandon the demised premises (unless as a result of a casualty) and such abandonment shall continue for twenty (20) days after Landlord shall have given Tenant notice thereof; (e) whenever Tenant shall default in the due keeping, observing or performance of any covenant, agreement, provision or condition of Article 5 hereof on the part of Tenant to be kept, observed or performed and if such default shall continue and shall not be remedied by Tenant within three (3) Business Days after Tenant receives a notice specifying the same; or (f) whenever Tenant shall default with respect to any other agreement lease between Landlord and Tenant; then in any of said cases set forth in the foregoing subsections (other than payment a), (b), (c), (d), (e) and (f), Landlord may give to Tenant a notice of rentintention to end the term of this Lease at the expiration of three (3) in days from the date of the service of such notice of intention, and upon the expiration of said three (3) days this Lease and such default (other than payment of rent)the term and estate hereby granted, continues for ten days after written notice thereofwhether or not the term shall theretofore have commenced, or if the Premises be vacated or abandoned, then in any such event this Lease shall terminate, at the option of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and with the Lessor may exclude Lessee from same effect as if that day were the PremisesExpiration Date, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee but Tenant shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, damages as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyprovided in Article 18.

Appears in 1 contract

Sources: Lease Agreement (Interliant Inc)

Default. If default is made in the payment of any installment of rent on the due date thereof, or if Lessee shall be in default in the performance of any other agreement (other than payment of rent) in under this Lease Lease, and such default (other than payment of rent), continues for ten days after written notice thereofis not cured within the applicable grace period, or if the shall abandon or vacate said Premises be vacated or abandoned, then in any such event this Lease shall terminate, at the option of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to before the end of the Term hereof term of this Lease, or shall suffer the rent to be in arrears beyond applicable notice provisions and grace periods, the Lessor may, at its option, forthwith cancel this Lease or it may enter said Premises as the agent of the Lessee, by force or otherwise (all in accordance with local law), and relet the Premises as the agent of the Lessee, at such price and upon such terms and for such duration of time as the Lessor may determine, and receive the rent therefor, applying the same to the payment of the rent due by these presents, and if the full rental herein provided shall not be realized by Lessor over and above the expenses to Lessor in such re-letting, the said Lessee shall pay any loss or deficiency sustained by deficiency, and if more than the full rental is realized Lessor on account will pay over to said Lessee the excess of rent net of all costs associated with releasing the Premises. In the alternative, Lessor may elect to declare the entire rent for the balance of the Premises being let for the remainder of the original term for a less sum than before. LessorLease Term, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof thereof, due and payable forthwith, and to bring an action for the remainder recovery thereof. For purposes of this Lease, the term “abandon” shall be defined to mean the failure by Lessee, (i) to keep the Premises properly lit, air conditioned, dehumidified, and secured for a period of more than five (5) calendar days, and/or (ii) to properly maintain the electrical and interior plumbing systems and promptly notify Lessor of roof leaks, and/or (iii) to provide Lessor access to Premises when reasonably requested to allow inspections to insure proper functioning of the Term or for any longer or shorter period as opportunity may offerBuilding including but not limited to the roof, plumbing, sewer, electrical, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyother systems.

Appears in 1 contract

Sources: Business Lease (Spirit Airlines, Inc.)

Default. If default is made in the payment of Should LESSEE fail to pay any installment of rent on when due or fail to fulfill or perform any of the due date thereofagreements or provisions of this lease, which are the obligation of the LESSEE, or if Lessee otherwise at any time to be in default thereinunder, and fail to pay such rent or continue in breach or default for a period of thirty (30) days after LESSOR shall default have demanded in the writing by Certified Return Receipt mail for performance thereof; or should LESSEE be adjudicated a bankrupt or make an assignment for benefit of any other agreement (other than payment of rent) creditors; or should LESSEE'S interest in this Lease lease be levied on or attached in any action against LESSEE and such default levy or attachment is not vacated within sixty (other than payment of rent), continues for ten 60) days after written notice thereof, or if the Premises be vacated or abandonedthereafter, then in any such event or events, LESSEE'S interest in the leased premises and in this Lease lease shall terminatenot be transferred by operation of law, but LESSOR may, at the option of the LessorLESSOR'S election, and Lessor without prejudice to any other rights or remedies which might otherwise be available to LESSOR, (1) bring appropriate action against LESSEE to enforce the agreements and provision of this lease, and to compel the LESSEE to abide by the same; (2) terminate this lease, and in such event LESSOR may rightfully re-enter the Premises and take possession thereof, with or without force or legal process and tile leased premises without notice or demand, and repossess the service of noticesame or recover possession thereof, demand as if such premises were held by forcible detainer; or legal process being hereby expressly waived(3) to pursue, in connection with the foregoing or separately, and upon other right or remedy provided by law: provided however, that LESSEE shall not be in default hereunder in the event that such entryobligation, as aforesaidother than the payment of rent is fulfilled and performed within such Thirty (30) day period. LESSOR'S RIGHT OF ACCESS ------------------------ The LESSOR may enter the leased property, this Lease shall terminate and the Lessor may exclude Lessee from the Premisesat any reasonable time, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder purpose of inspecting the original term for a less sum than beforeleased property or performing any work which the LESSOR deems necessary to maintain property interest. LessorPROPERTY INSURANCE, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthly.DESTRUCTION OF PREMISES AND ----------------------------------------------- OBLIGATION TO REBUILD ---------------------

Appears in 1 contract

Sources: Lease Agreement (Bowlin Outdoor Advertising & Travel Centers Inc)

Default. If Without prejudice to all of the rights and recourses available to the Lessor, the following shall be considered special defaults under the Terms of this Lease; a) in the event that Lessee shall be in default is made under any provision of this Lease providing for the payment of rent or additional rent and such default shall continue for ten (10) days after the due date; b) in the event that Lessee shall be adjudicated a bankrupt or make any general assignment for the benefit of creditors, or take, or attempt to take, the benefit of any insolvency or bankruptcy Act, or if a petition in bankruptcy shall be granted against Lessee, or if a receiver or trustee be appointed for the property of Lessee, or any part thereof, or any execution be issued pursuant to a judgment, rendered against Lessee or pursuant to this Lease, or if the estate of Lessee hereunder be transferred or pass to or devolve upon any other person or corporation by operation of law; or if the Lessee abandons the Leased Premises or if they are vacant or unattended for more than ten (10) days, or occupied by persons other than the Lessee without Lessor's written consent; or c) in the event that Lessee shall be in default in observing any covenant herein contained and/or performing any of its obligations contained in the Lease (other than a default in the payment of any installment of rent on the due date thereof, or if Lessee shall default in the performance of any other agreement (other than payment of additional rent) in this Lease and such default shall continue for thirty (other than payment of rent), continues for ten 30) days after written notice thereofspecifying such default shall have been given to Lessee by Lessor. In the event of any special default under the Terms of this Lease, the Lessor without prejudice to any rights or if remedies it may have hereunder or by law shall have the Premises be vacated or abandoned, then in any right to terminate this Lease forthwith upon written notice given to Lessee by Lessor. Lessee upon such event a termination of this Lease shall terminatethereupon quit and surrender the Leased Premises to Lessor and Lessor, its agents and servants, may immediately or at any time thereafter, re-enter the Leased Premises and dispossess Lessee, and remove any and all persons and any or all property therefrom whether by summary dispossession proceedings or by any suitable action or proceeding at law, or otherwise without being liable to prosecution or damages therefor. In case of any termination, or in case Lessee, in the absence of such termination, shall be dispossessed by or at the instance of Lessor in any lawful manner, whether by force or otherwise, rent for the balance of the original Term of the Lease shall immediately become due and payable and this Lease shall immediately, at the option of the Lessor, become forfeited and terminated and the Lessor may may, without notice or any form of legal process, forthwith re-enter the Premises upon and take possession thereof, with or without force or legal process of the Leased Premises and without notice or demandremove the Lessee's effects therefrom, the service whole without prejudice to and under reserve of notice, demand or legal process being hereby expressly waived, all of the rights and upon such entry, as aforesaid, this Lease shall terminate and recourse of the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for claim any and all losses and damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account by reason of and arising from any default of the Premises being let Lessee. In the event of the bankruptcy of the Lessee, the Lessor shall be entitled to rent for the remainder following three (3) months, as accelerated rent, without prejudice to all of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder other rights of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay Lessor under the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlycircumstances.

Appears in 1 contract

Sources: Lease Agreement (Griffith Micro Science International Inc)

Default. (A) If, (a) Tenant fails to keep any of Tenant’s agreements mentioned in the Lease other than Tenant’s agreement to pay rent; or, (b) if the Tenant or any other occupants of the Apartment engage in objectionable conduct; or, (c) if the Apartment is vacated by all authorized occupants; or (d) if the Apartment is damaged because of negligence or misuse of Tenant, Tenant’s family, servants, visitors, or guests, or, (e) if any execution or attachment shall be issued against Tenant or any of Tenant’s property resulting in the Apartment being taken or occupied by someone other than Tenant; or, (f) if Tenant shall fail to move into or take possession of the Apartment within fifteen (15) days after the beginning of the Lease, then in any one or more of such events, Landlord may serve upon Tenant written notice stating the nature of said default, and if such default of Tenant has not been cured and corrected or objectionable conduct stopped within five (5) days, then at the end of said five (5) days, the Landlord may serve upon Tenant three (3) days notice of Landlord’s election to end the Lease, and upon the end of said three (3) days, the Lease shall end as if the end of such three (3) days period were the day stated to be the end of the Lease, and the Tenant shall then give up the Apartment to Landlord, but Tenant shall remain responsible to Landlord as stated in this agreement, however, where the default involves a violation of Rule 13 or Rule 14, or otherwise relates to the unlawful trade, manufacture, distribution, storage and/or sale of marihuana or controlled substances, or where the conduct constitutes an imminent threat to the viability of the project to the safety of other tenants or occupants of the project, no notice as set forth in this paragraph need be given by the Landlord to the Tenant. (B) If the notice provided for in (A) hereof shall have been given, and the term shall end as provided above or if no notice is required pursuant to subparagraph (A) hereof, or if Tenant shall make default is made in the payment of any installment of the rent on the due date thereofor additional rent, or if Lessee shall default in the performance of any other agreement (other than payment of rent) in this Lease and such default shall continue three (other than payment of rent), continues for ten 3) days after written notice thereofthe statutory personal demand for rent, or if the Premises be vacated or abandonedgiving of the statutory written three (3) days demand for rent, then in any such event this Lease shall terminate, at the option of the Lessor, and Lessor Landlord may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer dispossess Tenant or other proper legal action, occupants and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry their property by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss summary proceedings or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than beforepeaceful reentry or other lawful means. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthly.

Appears in 1 contract

Sources: Lease Agreement

Default. If The Borrower shall be deemed to have committed an act of default is made if the Borrower(s) does not comply with his/her obligations as mentioned in this Agreement or any Loan Document, and also on the payment happening of any installment one or more of rent the following events, (each an ‘Event of Default’ and collectively ‘Events of Default’): a) The Borrower fails to pay any EMI Amount or the Outstanding Dues under this Agreement on or before the due date thereofDue Date; b) The Borrower commits breach of any of the terms, representations, covenants or if Lessee shall conditions contained in this Agreement or the Loan Document; c) it is found that the Borrower commits a default of any of the terms and conditions in the performance respect of any other agreement (other than payment loan or facility provided by the Lender and/or any affiliates of rentthe Lender; d) there exists any circumstances which in this Lease and such default (other than payment the opinion of rent), continues for ten days after written notice thereof, the Lender prejudicially affects or may affect the Lender’s interest or the Borrower’s ability to repay the Loan; e) demise of the Borrower or if the Premises Borrower compounds with his/her creditors or permits any attachment or sequestrations or other processes against any of his/her assets or properties; f) if the Borrower commits an act of insolvency or if the Borrower is declared insolvent or bankrupt or if a receiver or official assignee is appointed in respect of any property or estate of the Borrower or if the Borrower asks for any application for declaring himself an insolvent or if an application for declaring the Borrower as insolvent is made or any order is passed by any competent count or authority for taking the Borrower into insolvency; and g) if any proceedings are pending or threatened against the Borrower by any government agency or authority for any misconduct or breach/violation of any law or regulations or code of conduct, etc.; h) any other events, conditions or circumstances which occur or exist which have or could have a material adverse effect on the business of the Lender. Any Event of Default shall be vacated or abandonedconsidered a material breach of this Agreement and upon the occurrence of the Event of Default and at any time thereafter, then in if any such event this Lease shall terminatebe continuing, at the option Lender may, in its sole discretion and upon written notification: a) accelerate the repayment of the Lessor, and Lessor may re-enter Loan including the Premises and take possession thereof, with or without force or legal process and without notice or demand, Outstanding Dues; b) place the service of notice, Loan on demand or legal process being hereby expressly waiveddeclare all the Outstanding Dues payable by the Borrower in respect of the Loan to be due and payable immediately; c) recover the charges for dishonour of the Repayment Modes, Penal Interest and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee any other penal charges from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s Borrower as mentioned in Schedule II; d) terminate this Agreement; e) exercise such other rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental remedies as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal available to the amount of rent payable Lender under Applicable Law during the residue pendency of the Term Loan including without limitation under Section 138 of the Negotiable Instruments Act, 1881 and net rent received by under Section 25 (1) of Payment of Settlement System Act, 2007; and/or f) stipulate such other condition(s) or take such other action(s) as the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyLender deems fit.

Appears in 1 contract

Sources: Personal Loan Agreement

Default. If default As used in this Lease, the term "event of default" shall ------- mean any one of the following: A. The failure of Tenant to make any payment of rent by the fifth (5th) day of the month in which the same becomes due and payable; B. The failure of Tenant to fulfill any other duty or obligation imposed on Tenant by this Lease; C. The appointment of a receiver or the entry of an order declaring Tenant bankrupt or the assignment by Tenant for the benefit of creditors or the participation by Tenant in any other insolvency proceedings; D. The taking of the leasehold interest of Tenant hereunder pursuant to an execution on a judgment. E. Notwithstanding any other provisions contained in this Lease, in the event (a) Tenant or its successors or assignees shall become insolvent or bankrupt, or if it or their interests under this Lease shall be levied upon or sold under execution or other legal process, or (b) the depository institution then operating on the Premises is made closed, or is taken over by any depository institution supervisory authority ("Authority") and if such Authority elects to and does in fact continue paying rent and otherwise perform herewith, Landlord may terminate this Lease only with the concurrence of any Receiver or Liquidator appointed by such Authority; provided, that in the event this Lease is terminated by the Receiver or Liquidator, the maximum claim of Landlord of rent, damages, or indemnity for injury resulting from the termination, rejection, or abandonment of the unexpired Lease shall in no event be in an amount in excess of all accrued and unpaid rent to the date of termination. Upon the happening of any "event of default", Landlord may at its option accelerate payments due hereunder and terminate this Lease and expel Tenant and recover reasonable legal fees and costs therefrom without prejudice to any other remedy; provided, however, that before the exercise of such option in the event of default, in the case of failure by Tenant in the payment of rent or the payment of taxes or insurance costs or any installment other sums as required by this Lease, Landlord shall first have given written notice of rent on such event of default to Tenant, which thereafter shall have five (5) days within which to remedy or correct such monetary default, including the due date thereofpayment of any late fees or other charges assessed by the lender of Landlord, or if Lessee shall default and in the performance case of failure by Tenant to perform any other agreement condition imposed herein upon Tenant, Landlord shall have first given written notice of such event of default to Tenant, which thereafter shall have thirty (30) days (as to any event of default other than payment of rentrent or other monetary default) in this Lease and within which to remedy or correct such default (other than payment of rent)default; provided, continues for ten days after written notice thereof, or that if the Premises be vacated or abandoned, then in any such event this Lease of non-monetary default cannot reasonably be cured within said thirty (30) day period, Tenant shall terminate, at the option of the Lessor, not be deemed in default hereunder if cure is commenced within said period and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlydiligently pursued thereafter.

Appears in 1 contract

Sources: Lease (Firstbancorporation Inc)

Default. If Tenant shall fail to pay, as and when due, any installment of Base Rent or any other sum required to be paid by Tenant under this Lease or under the terms of any other agreement between Landlord and Tenant, or if default is shall be made in the payment observance or performance of any installment of rent the other covenants or conditions in this Lease which Tenant is required to observe and perform and such default shall continue for ten (10) days after written notice to Tenant (unless such default is not reasonable capable of being cured within such ten (10) day period, in which event Tenant shall not be in default if Tenant commences to cure the default within such ten (10) day period and thereafter diligently prosecutes the cure to completion), or if Tenant is in default of any of its obligations under Paragraph 4(d) above (Hazardous Materials), below and if such default is not cured by Tenant promptly after written notice to Tenant, or if the interest of Tenant in this Lease shall be levied on under execution or other legal process, or if any voluntary petition in bankruptcy or for corporate reorganization or any similar relief shall be filed by Tenant, or if any involuntary petition in bankruptcy shall be filed against Tenant under any federal or state bankruptcy or insolvency act and shall not have been dismissed within thirty (30) days from the due date filing thereof, or if Lessee a receiver shall default in be appointed for Tenant or any of the performance property of Tenant by any other agreement (other than payment of rent) in this Lease court and such default receiver shall not have been dismissed within thirty (other than payment 30) days from the date of rent), continues for ten days after written notice thereofappointment, or if Tenant shall make an assignment for the benefit of creditors, if Tenant shall admit in writing Tenant's inability to meet Tenant's debts as they mature, or if Tenant shall abandon or vacate (for longer than ten (10) consecutive days) the Premises be vacated or abandonedduring the Term, then in Landlord may treat the occurrence of any such event one or more of the foregoing events as a breach of this Lease shall terminate, at the option ("Event of the LessorDefault"), and Lessor may re-enter the Premises and take possession thereofthereupon at its option may, with or without force or legal process and without further notice or demanddemand of any kind to Tenant or any other person, the service of notice, demand have any one or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end more of the Term hereof remedies described in Paragraph 26, below, in addition to all other rights and shall pay any loss remedies provided at law or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises in equity or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyelsewhere in this Lease.

Appears in 1 contract

Sources: Lease Agreement (O S I Corp)

Default. If default this lease is made terminated in accordance with any of the payment terms herein (with the exception of any installment of rent on the due date thereofLessee’s insolvency), or if Lessee abandons the Premises or if Lessee shall default in fail at any time to keep or perform any of the performance covenants or conditions of any other agreement (other than this lease, i.e. specifically the covenant for the payment of monthly rent, and if any monetary default is not cured within ten (10) in this Lease and such default (other than payment of rent), continues for ten days after Lessor gives Lessee written notice thereofthereof or any nonmonetary default is not cured within thirty (30) days after such notice, or such longer period as may be reasonably required to complete such cure if the Premises be vacated or abandonedsame is commenced within said thirty (30) days and pursued thereafter in good faith and with due diligence, then then, and in any of such event this Lease shall terminate, at the option of the Lessor, and events Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waivedat Lessor’s option, and upon without being deemed guilty of trespass and/or without prejudicing any remedy or remedies which might otherwise be used by Lessor for arrearages or preceding breach of covenant or condition of this lease, enter into and repossess said Premises and expel the Lessee and all those claiming under Lessee. In such entry, as aforesaid, this Lease shall terminate and the event Lessor may exclude Lessee eject and remove from the Premises, changing the lock on the door or doors said Premises all goods and effects in any manner permitted by law. This lease if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event not otherwise terminated may immediately be enforced declared by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the as terminated. Lessee shall remain liable for a sum equal all unpaid rental which has been earned plus late payment charges pursuant to this lease and for the entire remainder of the term of this lease for any deficiency between the net amounts received following reletting and the gross amounts due from Lessee, or if Lessor elects, Lessee shall be immediately liable for all rent payable and additional rent that would be owing to the end of the Term hereof and term, less any rental loss Lessee proves could be reasonably avoided, which remainder shall pay any loss or deficiency sustained be discounted by the discount rate of the Federal Reserve Bank, situated nearest to the Premises, plus one percent (1%). Waiver by the Lessor on account of any default, monetary or non-monetary, under this Lease shall not be deemed a waiver of any future default under the Lease. Acceptance of rent by Lessor after a default shall not be deemed a waiver of any defaults (except the default pertaining to the particular payment accepted) and shall not act as a waiver of the Premises being let right of Lessor to terminate this Lease as a result of such defaults by an unlawful detainer action or otherwise. If Lessor is fails to perform any of its obligations under this lease and such failure continues beyond the same cure period here given to Lessee for the remainder same type of default, Lessee shall have the original term for a less sum than before. Lessorright to recover its damages caused by such breach, as agent for to cure such default on behalf of Lessor or, if such default materially interferes with Lessee, without notice may re-let ’s ability to use the Leased Premises or any part thereof for the remainder purposes herein stated, to terminate this lease. Any sums expended by Lessee in effecting such cures shall be repaid by Lessor upon demand or may be offset by Lessee against the next installments of the Term or for any longer or shorter period as opportunity may offerrent and additional rent, and such sums shall be interest at the rate applicable to delinquent rents from the date of such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal expenditure to the amount date of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyrepayment or offset.

Appears in 1 contract

Sources: Office Lease (Dendreon Corp)

Default. If default 11.01 It is made a condition under this Lease that if the Lessee shall fail to pay any one or more rent installments, as called for by this Lease, for a period of fifteen (15) days after the same becomes due and payable, the Authority, at its option, may, after thirty (30) days written notice and failure of the Lessee to pay such rental installment within the said thirty (30) days, cancel and terminate the Lease and recover possession of the leased premises, such notice to be given as provided in Article XXI herein. 11.02 It is further agreed that if the payment of any installment of rent on the due date thereof, or if Lessee shall default in the performance of any other agreement (other than payment of rent) the terms, provisions, covenants or conditions in this Lease and such default (other than payment of rent)its part to be performed, continues for ten days after written notice thereof, kept or if the Premises be vacated or abandonedobserved hereunder, then and in any such event the Authority at its election may terminate this Lease shall terminateat any time thereafter and recover possession of the leased premises and personal property by giving thirty days written notice, as provided in Article XXI herein; and at the option expiration of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaidthirty day period, this Lease and all of the right and interest herein granted to the Lessee, including any option privileges, shall cease and terminate and unless within such thirty day period all such default or defaults shall have been cured, except in the Lessor may exclude Lessee from event that the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in curing of such event may be enforced by action in unlawful detainer or other proper legal action, default takes more than thirty days and the Lessee expressly agrees, notwithstanding termination is proceeding to cure the default as soon as possible. 11.03 If the right of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end use, occupancy and possession of the Term hereof and leased premises shall pay be terminated in any loss or deficiency sustained by way, then the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises Authority shall use its best efforts to relet said premises or any part thereof for the remainder account and benefit of the Term Lessee for such renewal terms to such persons, firms, or corporation and for any longer such periods or shorter period as opportunity may offer, and at such rental as may be obtainedfixed and determined by the Authority, and ▇▇▇▇▇▇ the Authority shall not unreasonably refuse to accept or receive any suitable occupant or tenant offered by the Lessee. The Authority shall not otherwise be required to do any act whatsoever or exercise any diligence whatsoever in or about the procurement of another occupant or tenant to mitigate the damages to the Authority, and if a sufficient sum shall not be received from any reletting to satisfy the rental payments hereby agreed to be made by the Lessee, after paying the expenses of reletting and collection, then the Lessee hereby agrees to pay and satisfy any such deficiency if, as and when the difference between sum equal same exists; provided, however, any excess rentals from any such reletting shall be credited to the amount of rent payable during the residue of the Term and net rent received any rental due or to become due by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyLessee.

Appears in 1 contract

Sources: Lease Agreement (General Housing Inc)

Default. If Any other provisions in this Lease notwithstanding, it shall be an event of default is made in the payment ("Event of Default") under this Lease if: (i) Tenant fails to pay any installment of rent Fixed Rent, Additional Rent or other sum payable by Tenant hereunder when due and such failure continues for a period of ten (10) days after notice from Landlord to Tenant that such payment has not been received, provided, however, that Landlord shall not be obligated to give such notice, and Tenant shall not be entitled to the benefit of such notice on the due date thereofmore than one (1) occasion during any calendar year, or if Lessee shall default in the performance of (ii) Tenant fails to observe or perform any other covenant or agreement (other than payment of rent) in this Lease Tenant herein contained and such default (other than payment of rent), failure continues for ten days after written notice thereofgiven by or on behalf of Landlord to Tenant for more than fifteen (15) days, provided, however, that if such non-monetary Event of Default by Tenant cannot reasonable be cured within such fifteen (15) day period, and provided further that Tenant is proceeding with the due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default until the same is cured, and it is cured no later than ninety (90) days after the giving of such notice to Tenant by Landlord, or if (iii) Tenant uses or occupies the Demised Premises be vacated other than as permitted hereunder, or abandoned(iv) Tenant assigns or sublets, then in any such event this Lease shall terminate, at the option of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or without force purports to assign or legal process and without notice or demandsublet, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Demised Premises or any part thereof other than in the manner and upon the conditions set forth herein, or (v) Tenant abandons the Demised Premises or without Landlord's prior written consent, Tenant removes or attempts to remove or manifests an intention to remove any or all of Tenant's property from the Demised Premises other than in the ordinary and usual course of business, or (vi) Tenant (which, for purposes of this clause, includes any guarantor hereunder) files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (vii) if Tenant is a banking organization, Tenant files an application for protection, voluntary liquidation or dissolution applicable to banking organizations, or (viii) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant's property or of the Demised Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (ix) Tenant shall generally not pay Tenant's debts as such debts become due, or shall make an assignment for the remainder benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due, or (x) any of the Term foregoing occurs as to any guarantor or for surety of Tenant's performance under this Lease, or such guarantor or surety defaults on any longer provision under its guaranty or shorter suretyship agreement. The notice and grace period as opportunity may offer, provisions in clauses (i) and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal (ii) above shall have no application to the amount Events of rent payable during Default referred to in clauses (iii) through (ix) above or, to the residue extent applicable, (x). Notwithstanding anything contained herein to the contrary, the occurrence of an "Event of Default" under that certain Office Space Lease dated November 25, 1985, as amended, pursuant to which Tenant currently is leasing space in the Term and net rent received by the Lessor during the Term after deducting all expenses Park, automatically shall constitute an Event of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyDefault hereunder without any further notice or opportunity to cure whatsoever required.

Appears in 1 contract

Sources: Lease Agreement (Immunicon Corp)

Default. If default is made in Lessee shall (i) fail to pay the payment of rent or any installment of rent on the other item to be paid by Lessee hereunder when due date thereofand such failure shall not have been cured within three (3) days after written Notice thereof by Lessor to Lessee; (ii) fail to perform any other term, covenant, or if Lessee shall default in the performance condition of any other agreement (other than payment of rent) in this Lease and such default failure shall not have been cured to the satisfaction of Lessor within twenty (other than payment of rent), continues for ten 20) days after written notice thereofNotice thereof by Lessor; (iii) vacate or abandon the Premises; or (iv) fail to open within sixty (60) days after the Commencement Date as set forth in this Lease; then Lessor may, or if the Premises at its option, declare Lessee to be vacated or abandonedin Default hereunder, then in any such event and thereupon, Lessor shall be entitled, without further notice, to terminate this Lease shall terminateand accelerate the payment of Base Rent and Additional Rent for the balance of the term hereof or, in addition, exercise any one or more of the remedies provided herein or permitted by law. In the event of a Default by Lessee, Lessor may, at the option its option, elect any of the Lessor, and Lessor may following remedies: (a) re-enter and take possession of the Premises and remove all persons and property from the Premises at the cost and for the account of Lessee without being deemed guilty of trespass or becoming liable for any loss or damage which may be occasioned thereby, or Lessor may terminate this Lease. In the event Lessor elects to re-enter and take possession of the Premises without terminating this Lease, Lessor may, as agent of Lessee, relet the Premises, or any part thereof, with for such term or without force terms, which may be for a term extending beyond the term of this Lease, at such rental or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waivedrentals, and upon such entryother terms and conditions as Lessor, in its discretion, may deem advisable, with the right to make alterations and repairs to the Premises. Upon any such reletting, Lessor shall receive and collect the rents therefor, applying the same first to the payment of such expenses as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from have paid, assumed or incurred in recovering possession of the Premises, changing including costs, expenses and attorney's fees, placing the lock on same in good order and condition, repairing or altering the door Premises for reletting and all other expenses, commissions and charges paid, assumed or doors if deemed necessary, if applicable, without being liable to Lessee for any damages incurred by Lessor in or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal actionabout reletting the Premises, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal then to the entire rent payable to the end fulfillment of the Term hereof Lease obligations of Lessee. In any event, and shall pay any loss whether or deficiency sustained by not the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof is relet, Lessee shall pay Lessor for all such amounts required to be paid by Lessee up to the time of re-entry by Lessor and thereafter. Lessee shall, if required by Lessor, pay to Lessor until the expiration or termination of this Lease, an equivalent of that amount equal to all Base Rent and Additional Rent, and other charges required to be paid by Lessee under the terms hereof, less the proceeds, if any, of such reletting, and the same shall be due and payable on the first day of each calendar month during the remainder of this Lease. (b) re-take and recover possession of the Term or for any longer or shorter period as opportunity may offerPremises, and at such rental as may be obtainedaccelerate and collect all Base Rent and Additional Rent, and ▇▇▇▇▇▇ agrees other charges required to pay be paid by Lessee for the difference between sum equal to the amount of rent payable during the residue balance of the Lease Term and net rent received by under the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyterms hereof.

Appears in 1 contract

Sources: Lease Agreement (Sforza Enterprises Inc)

Default. If 10.1 The following events shall be deemed to be events of default is made in the payment of by Lessee under this Lease Agreement: (i) Lessee shall fail to pay any installment of Rent, additional rent on the due date thereof, or if Lessee shall default in the performance of any other agreement (other than payment of rent) in this Lease and such default (other than payment of rent), charge or assessment against Lessee pursuant to the terms hereof when due which failure continues for ten thirty (30) business days after written notice thereof, thereof from Lessor to Lessee; (ii) a receiver or if the Premises trustee shall be vacated or abandoned, then in any such event this Lease shall terminate, at the option of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee appointed for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder all or substantially all of the Term assets of Lessee or of any guarantor of this Lease Agreement; (iii) Lessee shall abandon or vacate all or any portion of the Leased Premises or fail to take possession thereof as provided in this Lease Agreement; or (iv) Lessee shall do, or permit to be done anything which creates a lien upon the Leased Premises which lien is not removed by payment or bond within thirty (30) business days after Lessee receives notice thereof. 10.2 Upon the occurrence of any of the aforesaid events of default, Lessor shall have the option to pursue and one or more of the following remedies without any notice of demand whatsoever: (i) terminate this Lease Agreement, in which event Lessee shall immediately surrender the Leased Premises to Lessor and, if Lessee fails to do so, Lessor may without prejudice to any other remedy which it may have for any longer possession or shorter period as opportunity may offerarrearage in rent, enter upon and at such rental as may be obtained, take possession of the Leased Premises and expel or remove ▇▇▇▇▇▇ agrees to pay the difference between sum equal to and any other person who may be occupying said Leased Premises or any part thereof, by force, if necessary, without being liable for prosecution or any claim of damages, as permitted by Georgia law, therefore; (ii) make demand for the amount of rent payable during all Rent and other charges accrued through the residue date of termination. 10.3 Pursuit of any of the Term foregoing remedies shall not preclude pursuit of any remedy herein provided or any other remedy provided by law or at equity, nor shall pursuit of any remedy herein constitute an election of remedies thereby excluding the later election of an alternate remedy, or a forfeiture or waiver of any Rent, additional rent of other remedy hereunder or of any damages accruing to Lessor by reason of violation of any of the terms, covenants, warranties and net rent received provisions herein contained. Forbearance by Lessor to enforce one or more of the remedies herein provided upon an event of default shall not be deemed or construed to constitute a waiver of such default. In determining the amount of loss or damage, which Lessor may suffer by reason of termination of this Lease Agreement following default by Lessee or the deficiency arising by reason of any re-letting of the Leased Premises by Lessor as above provided, allowance shall be made for expense of repossession. 10.4 In case Lessor shall default on the performance of any covenant or agreement herein contained, if Tenant gives written notice to Landlord of the need for any such maintenance, repair or replacement and Landlord fails to commence such maintenance, repair or replacement within ten (10) days and thereafter fails to commence or diligently pursue such maintenance, repair or replacement within three (3) business days after Tenant gives Landlord further written notice thereof and of Tenant’s intention to undertake such maintenance, repair or replacement, then Tenant may proceed to undertake such maintenance, repair or replacement; provided, however, that such further notice to Landlord shall not be required if Tenant’s initial notice identifies the condition requiring maintenance, repair or replacement as one that involves present or imminent danger of injury to persons or damage to property. Notwithstanding anything in this Agreement to the contrary, Landlord shall have no obligation to repair damages caused by Tenant’s negligence or willful misconduct of Tenant’s employees, agents, or contractors. All reasonable costs and expenses incurred by Tenant in exercising Tenant’s rights under this this paragraph shall be payable by Landlord to Tenant upon demand, which shall be accompanied by an invoice of such costs and expenses and reasonable documentation substantiating such costs and expenses. If Landlord fails to pay any such amount within fifteen (15) days after demand Landlord agrees that any services, replacement, repairs or maintenance done by the Lessor during Tenant to the Term after deducting all expenses Premises or to any improvements or additions made to the Premises by the Landlord shall not be construed as a waiver by the Tenant of every kind for repairsLandlord’s obligations under this paragraph. In the event that Tenant constructs or erects any additions and/or improvements on the Premises with prior Landlord approval, recovering possession Landlord shall have no obligation whatsoever to service, replace, keep and reletting maintain the same, which differences shall accrue same in good order and be payable monthlyrepair.

Appears in 1 contract

Sources: Lease Agreement

Default. If default this lease is made terminated in accordance with any of the payment terms herein (with the exception of any installment of rent on the due date thereofParagraphs 2, 15, 26 or 27), or if Lessee vacates or abandons the Premises or if Lessee shall default in fail at any time to keep or perform any of the performance covenants or conditions of any other agreement (other than this lease, i.e. specifically the covenant for the payment of monthly rent) in this Lease , then, and such default (other than payment of rent), continues for ten days after written notice thereof, or if the Premises be vacated or abandoned, then in any of such event this Lease shall terminate, at the option of the Lessor, and events Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waivedat Lessor’s option, and upon without being deemed guilty of trespass and/or without prejudicing any remedy or remedies which might otherwise be used by Lessor for arrearages or preceding breach of covenant or condition of this lease, enter into and repossess said Premises and expel the Lessee and all those claiming under Lessee. In such entry, as aforesaid, this Lease shall terminate and the event Lessor may exclude eject and remove from said Premises all goods and effects (forcibly if necessary). This lease if not otherwise terminated may immediately be declared by Lessor as terminated. The termination of this lease pursuant to this Article shall not relieve Lessee from of its obligations to make the payments required herein. In the event this lease is terminated pursuant to this Article, or if Lessor enters the Premises without terminating this lease and Lessor relets all or a portion of the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being Lessee shall be liable to Lessee Lessor for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal actionall the costs of reletting, including necessary renovation and alteration of the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the leased Premises. Lessee shall remain liable for a sum equal all unpaid rental which has been earned plus late payment charges pursuant to Paragraph 21 and for the entire remainder of the term of this lease for any deficiency between the net amounts received following reletting and the gross amounts due from Lessee, or if Lessor elects, Lessee shall be immediately liable for all rent payable and additional rent (Paragraph 19) that would be owing to the end of the Term hereof and term, less any rental loss Lessee proves could be reasonably avoided, which amount shall pay any loss or deficiency sustained be discounted by the discount rate of the Federal Reserve Bank, situated nearest to the Premises, plus one percent (1%). Waiver by the Lessor of any default, monetary or non-monetary, under this Lease shall not be deemed a waiver of any future default under the Lease. Acceptance of rent by Lessor after a default shall not be deemed a waiver of any defaults (except the default pertaining to the particular payment accepted) and shall not act as a waiver of the right of Lessor to terminate this Lease as a result of such defaults by an unlawful detainer action or otherwise. Notwithstanding anything to the contrary herein, Lessee shall not be deemed to be in default, nor shall any late charge be imposed, on account of the Premises being let Lessee’s failure to (a) pay money to Lessor, unless such failure to pay continues for the remainder five (5) calendar days after Lessee’s actual receipt of written notice of the original term delinquency or (b) perform any other covenant of this Lease, unless such failure continues after Lessee’s actual receipt of written notice for a less sum than beforeperiod of thirty (30) calendar days or such longer time as may reasonably be required to cure the default. LessorNotwithstanding anything to the contrary herein, Lessee shall not be in default of this Lease solely because it abandons or vacates the Premises, or as agent for a consequence of the filing of an involuntary bankruptcy petition, the appointment of a receiver, the attachment of any interest in this Lease or of Lessee’s other assets or the exercise by any third party of any other remedy with respect to Lessee, without notice may re-let Lessee’s interest in this Lease or Lessee’s other assets, unless the Leased Premises petition, receiver, attachment or other remedy is not discharged within sixty (60) calendar days. Notwithstanding anything to the contrary herein, (a) Lessor shall use its best efforts to mitigate any part thereof for the remainder of the Term or damages resulting from any default by Lessee, and Lessee shall not in any event be liable for any longer damages reasonably mitigable by Lessor and (b) Lessor waives any right of distraint, distress for rent or shorter period as opportunity Lessor’s lien that may offer, and arise at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlylaw.

Appears in 1 contract

Sources: Office Lease (Aptevo Therapeutics Inc.)

Default. A. Any one and all of the following events shall constitute an Event or Default. i. If default is made Lessee files a petition in bankruptcy or insolvency or for reorganization under any bankruptcy act or voluntarily takes advantage of any such act or makes an assignment for the benefit of creditors; ii. If involuntary proceedings under any bankruptcy law, insolvency or receivership action shall be instituted against Lessee or if a receiver or trustee shall be appointed for all or substantially all of the property of Lessee, and such proceedings are not dismissed, or the receivership or trusteeship vacated, within ten (10) days after the institution or appointment; iii. If Lessee fails to pay rentals to the Lessor or fails to pay any other charges when due, and does not make the payment of any installment of rent on the due date thereof, or if Lessee shall default in the performance of any other agreement within five (other than payment of rent5) in this Lease and such default (other than payment of rent), continues for ten days after written notice thereof. For the purposes hereof, such other charges shall constitute additional rentals; iv. If Lessee fails to fully perform and comply with all conditions of Lease Agreement and such failure of performance continues for a period of ten (10) days after notice thereof; v. If Lessee vacates or if abandons the Premises be vacated Premises; vi. If the interest of Lessee is transferred or abandonedassigned to any other person, then firm or corporation except as herein permitted; vii. If Lessor, in any three (3) months of any Lease Year, give any notice to Lessee pursuant to subsection iii and iv above, notwithstanding Lessee’s cure of default within the allowable period or periods. viii. If Lessee loses their license to practice or is otherwise unable to practice full time for a period exceeding 90 days in one calendar year. B. Upon the occurrence of any Event of Default as set forth above, Lessor shall have at its option any one or more the following rights: i. To cancel and terminate the Lease Agreement and all interests of the Lessee hereunder by giving notice of such event cancellation and termination not less than ten (10) days prior to the effective date of such termination. Upon the expiration of said ten (10) day period, the Lessee shall have no further rights under this Lease shall terminate, at the option Agreement; and/or ii. To make any payment required of the LessorLessee herein or correct any condition required to be corrected by Lessee, and Lessor may re-shall have the right to enter the Premises for the purpose of correcting any such condition and take possession thereofto remain on the Premises until the complete correction of such condition. However, no expenditure by Lessor on behalf of Lessee shall be deemed to waive or release Lessee’s breach hereof and Lessor shall retain all rights to proceed against Lessee as set forth herein; and/or iii. To reenter the Premises immediately with or without force or legal process Order of Court and without being guilty of trespass, remove the property and personnel of Lessee and store such property in a public warehouse or such other location selected by Lessor, all at the expense of Lessee. After such reentry, Lessor shall have the right to terminate this Lease Agreement by giving ten (10) days notice or demandof termination to Lessee, but without such notice, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, reentry by Lessor shall not terminate this Lease shall terminate and the Agreement. On termination, Lessor may exclude recover from Lessee all damages resulting from Lessee’s breach, including the Premisescost of recovery of the Premises and placing them in satisfactory condition, changing the lock on value of the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination balance of this Lease and re-entry by over the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account reasonable rental value of the Premises being let for the remainder of the original term for a less sum than beforeTerm, all of which sums shall be immediately payable to Lessor from Lessee; and/or iv. Lessor, as agent for Lessee, without notice may re-let To relet the Leased Premises or any part thereof for any term, with or without terminating the remainder of the Term or for any longer or shorter period as opportunity may offerLease, and at such rental rentals and on such other terms as Lessor may be obtainedselect including the right to grant free rental, and ▇▇▇▇▇▇ agrees to alter and repair the Premises as Lessor deems necessary. Should Lessor relet the Premises, Lessee shall pay all expense of reletting including brokers’ or finders’ fees and such reasonable attorneys’ fees as Lessor may incur. Lessor shall apply the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by from reletting in the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthly.following order:

Appears in 1 contract

Sources: Lease Agreement (Radiation Therapy Services Holdings, Inc.)

Default. 18.1 If default is made in the payment Lessee fails to pay any rents when due within ten (10) days of any installment of rent on the due date thereofdate, or if Lessee shall default commits a breach under paragraph 17 hereof, or if Lessee defaults in the performance of any other agreement (other than payment term or covenant of rent) in this Lease Agreement, and any such default is not cured within five (other than payment of rent), continues for ten 5) days after written notice thereofthereof from Lessor to Lessee, or if the Premises be vacated or abandonedthen, then in any such event Lessor may, at Lessor's option, terminate this Lease shall terminate, at the option of the Lessor, and Lessor may Agreement and/or re-enter the Premises and take possession thereof, with remove all persons and all or without any property therefrom either by summary dispossess proceedings or by any other suitable action or proceeding at law or by force or legal process otherwise, without being guilty of trespass or liable to indictment, prosecution or damage therefor, and repossess and enjoy the Premises, together with all improvements, additions, alterations, installations and fixtures, without notice such re-entry and repossession working a forfeiture or demand, waiver of the service rents to be paid and the covenants to be performed by Lessee during the full term of notice, demand or legal process being hereby expressly waivedthis Lease Agreement, and upon such termination or re-entry, Lessee will quit and surrender the Premises to Lessor, but Lessee shall remain liable as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding hereinafter provided. Upon termination of this Lease Agreement or expiration of Lessee's right to occupy the Premises by reason of the happening of any of the foregoing events, or in any other manner or circumstances whatsoever, whether with or without legal proceedings, by reason of or based upon or arising out of a default or breach of this Lease Agreement on the part of Lessee, or upon the happening of any default hereunder, Lessor may, at its option, at any time and from time to time, relet the Premises or any part or parts thereof, for the account of Lessee or otherwise, and receive and collect the rent therefor, applying the same first to the payment of such expenses as Lessor may have incurred in recovering possession of the Premises, including attorneys' fees and expenses for putting the same into good order and condition or preparing or altering the same for re-entry by the Lessor that the Lessee shall remain liable for a sum equal rental to the entire rent payable extent Lessor deems necessary or desirable and all other expenses, commissions and charges paid, assumed or incurred by Lessor in or about reletting the Premises and then to the end fulfillment of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account covenants of the Premises being let Lessee hereunder. Any such reletting herein provided for may be for the remainder of the original term of this Lease Agreement, as originally granted, or for a less sum than beforelonger or shorter period. Lessor shall have the right to change the character and use made of the Premises, and Lessor shall not be required to accept any substitute tenant offered by Lessee or to observe any instructions given by Lessee up to the later of the time of such termination of this Lease Agreement or of such recovery of possession of the Premises by Lessor, as agent for the case may be, and thereafter, except in a case in which liability of Lessee as hereinafter provided arises by reason of the happening of the insolvency of Lessee, without notice may re-let Lessee covenants and agrees, if required by Lessor, to pay to Lessor until the Leased Premises or any part thereof for the remainder end of the Term or for initial term of this Lease Agreement, and/or any longer or shorter period renewal term, as opportunity the case may offerbe, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to equivalent of the amount of all rent payable during reserved hereunder, and all other charges required to be paid by Lessee, less the residue net proceeds of reletting, if any. Lessor shall have the election in place of and instead of holding Lessee so liable forthwith to recover against Lessee as damages for loss of the Term bargain and net not as a penalty, an aggregate sum which at the time of such termination of this Lease Agreement or of such recovery of possession of the Premises by Lessor, as the case may be, represents the then present worth of the excess, if any, of the aggregate of the rent received and all other charges payable by Lessee hereunder that would have accrued for the balance of the initial term, and/or any renewal term, as the case may be, over the then present worth of the fair market rents and all other charges for the Premises for the balance of such term. In addition, upon any default hereunder, Lessor shall have the right to exercise in connection therewith or separately any other rights or remedies provided by law. 18.2 The rights and remedies of Lessor shall include, but are not limited to, enforcement of any rights and privileges hereunder by mandatory injunction, restraining order or other equitable relief. In the event of re-entry by Lessor as hereinabove provided, Lessor shall not be or become responsible for or incur any liability to Lessee or other persons for any personal property, goods, commodities or materials in or about the Premises at the time of re-entry, the Lessor during may store or dispose of such personal property, goods, commodities or materials at the Term after deducting all expenses expense of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and Lessee with payment therefore to be payable monthlymade by Lessee upon demand of Lessor.

Appears in 1 contract

Sources: Commercial Lease (Sitek Inc)

Default. If default is made (a) In the event that Buyer defaults in its obligation to close under this Agreement, and fails to cure the payment same within ten (10) business days following receipt of any installment of rent on the due date thereofwritten notice, or if Lessee shall default in the performance of any other agreement (other than payment of rent) in Seller may, as its sole and exclusive remedy, terminate this Lease and such default (other than payment of rent), continues for ten days after Agreement by providing written notice thereofto Buyer, or if the Premises in which event Seller shall be vacated or abandoned, then in any such event this Lease shall terminate, at the option entitled to a disbursement of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees Money (including the Non-refundable EMD) and Extension EMD (if made) as liquidated damages. Upon such termination, neither Buyer nor Seller shall have any further rights, obligations or liabilities under this Agreement, except as otherwise expressly provided herein. The Parties acknowledge that the ▇▇▇▇▇▇▇ Money is fair and equitable and that it would be impossible to pay accurately determine Seller’s damages in the difference between sum equal event of Buyer’s default. Seller waives the right to exercise any and all other rights or remedies available at law or in equity, except in connection with ▇▇▇▇▇’s indemnification obligations as set forth in Sections 6 and 21 herein, or to any obligations that survive Closing or termination of this Agreement, which may be enforced by any remedy available at law or in equity. (b) In the event of Seller’s default of any of its obligations in this Agreement which Seller fails to cure within ten (10) business days following receipt of written notice, Buyer may: (i) waive such default and proceed to Closing without any reduction in or setoff against the Purchase Price; (ii) seek to enforce specific performance of Seller’s obligations under this Agreement; or (iii) terminate this Agreement by providing written notice to Seller and receive back the full amount of rent payable during ▇▇▇▇▇▇▇ Money, including the residue Non- refundable EMD, and Extension EMD (if made), in which event Buyer may pursue any and all rights and remedies available at law or in equity. Upon such termination, neither Buyer nor Seller shall have any further rights, obligations or liabilities hereunder, except as otherwise expressly provided herein. Notwithstanding the foregoing, in the event of the Term a willful or intentional default of Seller hereunder, and net rent received by the Lessor during the Term after deducting provided specific performance is not an available remedy, Buyer may pursue any and all expenses of every kind for repairs, recovering possession rights and reletting the same, which differences shall accrue and be payable monthlyremedies available at law or in equity.

Appears in 1 contract

Sources: Purchase and Sale Agreement

Default. If default is made in any one or more of the following events (an "Event of Default") shall happen: (a) If the Tenant shall fail to make due and punctual payment of any installment of rent on the due date thereof, Base Rent or if Lessee shall default in the performance of any other agreement (other than payment of rent) in Additional Rent payable under this Lease as the same shall become due and payable, and such default failure shall continue for a period of ten (other than payment of rent), continues for ten 10) days after written notice thereofthereof by the Landlord to the Tenant specifying with particularity the nature of the default and the monetary amount required to be paid to the Landlord to cure the same; or (b) If the Tenant shall fail to perform or observe any other agreement, term, covenant or condition required by the terms of this Lease to be performed or observed by it, and such failure shall continue for a period of thirty (30) days after written notice from the Landlord to the Tenant specifying with particularity the items in default and the specific actions required to cure such default or, in the case of a default which cannot with due diligence be cured within said thirty (30) day period, if the Tenant fails to commence within said thirty (30) day period the steps necessary to cure the same or thereafter to prosecute the curing of such default with due diligence (it being understood that the time of the Tenant within which to cure shall be extended for such period as may be necessary to complete the same with all due diligence); or (c) If the Tenant shall file a voluntary petition in bankruptcy or shall be adjudicated bankrupt or insolvent, or if there shall be appointed a receiver or trustee of all or substantially all of the Premises be vacated property of the Tenant or abandonedif the Tenant shall make any assignment for the benefit of the Tenant's creditors, then and such condition shall continue for a period of fifteen (15) days after written notice from the Landlord specifying with particularity the nature of the alleged default; or (d) [Intentionally omitted] then, and in any such event event, at any time thereafter while such Event of Default shall exist and be continuing, the Landlord may give written notice to the Tenant stating that this Lease and the term hereby demised shall terminateexpire and terminate on the date specified in such notice, which shall be at least 30 days (15 days if for non-payment of Base Rent or Additional Rent) after the option of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service giving of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights date specified in such event may be enforced by action in unlawful detainer or other proper legal actionnotice, and the Lessee expressly agrees, notwithstanding termination term of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end all rights of the Term hereof Tenant under this Lease shall expire and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyterminate.

Appears in 1 contract

Sources: Lease Agreement (Langer Inc)

Default. If In the event that: (a) the LESSEE shall default is made in the payment of any installment of rent on the due date thereof, or if Lessee shall default in the performance of any other agreement (other than payment of rent) in sum payable under this Lease and such default shall continue for seven (other than payment of rent), continues for ten 7) business days after written notice thereof; (b) the LESSEE shall default in the observance or performance of any other of the LESSEE’S covenants, agreements, or if obligations hereunder and such default shall not be corrected within thirty (30) days after written notice thereof; (c) the Premises LESSEE shall make an assignment for the benefit of creditors; admit in writing its inability to pay its debts as they become due; file a petition in bankruptcy, be vacated adjudicated a bankrupt or abandonedinsolvent, then or shall file a petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, or file an answer admitting or not contesting the material allegations or a petition filed against it in any such event this Lease proceeding; or seek, consent to, or acquiesce in the appointment of any trustee, receiver or liquidator of any material part of its assets; (d) within thirty (30) days after the commencement of any proceeding against the LESSEE seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, such proceeding shall terminatenot have been dismissed, at or if, within thirty (30) days after the option appointment without the consent or acquiescence of the LessorLESSEE of any trustee, receiver or liquidator of any material part of its assets, such appointment shall not have been vacated; or (e) the interest of LESSEE in the Leased Premises shall be sold under execution or other legal process; then the LESSOR shall have the right shall have the right thereafter to immediately and Lessor may without further notice to Lessee retain all moneys held as “Security Deposit” and while such default continues, to re-enter the Premises and take complete possession thereof, with or without force or legal process and without notice or demand, of the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Leased Premises, changing to declare the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination term of this Lease ended, and re-entry by remove the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. LessorLESSEE’S effects, as agent for Lesseeafter written notice, without notice may re-let the Leased Premises or prejudice to any part thereof remedies which might be otherwise used for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount arrears of rent payable or other default. The LESSEE shall indemnify the LESSOR against all loss of rent and other payments, which the LESSOR may incur by reason of such termination during the residue of the Term term. If the LESSEE shall default, after written notice thereof, in the observance or performance of any conditions or covenants on LESSEE’S part to be observed or performed under or by virtue of any of the provisions of this Lease, the LESSOR, without being under any obligation to do so and net rent received without thereby waiving such default, may remedy such default on the account and at the expense of the LESSEE. If the LESSOR makes any expenditures or incurs any obligations for the payment of money in connection therewith, including but not limited to, reasonable attorneys’ fees in instituting, prosecuting or defending any action or proceeding, such sums paid, or obligations incurred, with interest at the rate of eighteen percent (18%) per annum, shall be paid to the LESSOR by the Lessor during LESSEE as additional rent. Upon the Term after deducting all expenses occurrence of every kind for repairsdefault, recovering possession LESSOR may exercise the rights and reletting remedies accorded a secured party by the same, which differences shall accrue Uniform Commercial Code any other rights and be payable monthlyremedies provided therein.

Appears in 1 contract

Sources: Commercial Lease (Telemynd, Inc.)

Default. If default is made in a Registration Event occurs, then the payment Company will make payments to each Purchaser, as partial liquidated damages for the minimum amount of any installment of rent on damages to the due date Purchaser by reason thereof, and not as a penalty, at a rate equal to one percent (1%) of the Offering Price per share of Common Stock held by such Purchaser per month, for each calendar month of the Registration Default Period (pro rated for any period less than 30 days); PROVIDED, HOWEVER, if a Registration Event occurs (or if Lessee shall default in is continuing) on a date more than one year after the performance of any other agreement Purchaser acquired the Registrable Securities (other than payment of rentand thus the one year holding period under Rule 144(d) in this Lease and such default (other than payment of renthas elapsed), continues liquidated damages shall be paid only with respect to that portion of a Purchaser's Registrable Securities that cannot then be immediately resold in reliance on Rule 144; and PROVIDED, FURTHER, that in no event shall the aggregate liquidated damages payable by the Company to any Purchaser exceed 20% of the aggregate Offering Price paid by such Purchaser for ten all shares of Common Stock acquired by such Purchaser pursuant to the Subscription Agreement. Each such payment shall be due and payable within five days after written notice thereof, or if the Premises be vacated or abandoned, then in any such event this Lease shall terminate, at the option of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of each calendar month of the Term hereof Registration Default Period until the termination of the Registration Default Period and within five days after such termination. Such payments shall be in partial compensation to the Purchaser, and shall pay any loss or deficiency sustained by not constitute the Lessor on account Purchaser's exclusive remedy for such events. The Registration Default Period shall terminate upon (i) the filing of the Premises being let for Registration Statement in the remainder case of CLAUSE (A) of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let definition of "Registration Event," (ii) the Leased Premises or any part thereof for SEC Effective Date in the remainder case of CLAUSE (B) of the Term or for any longer or shorter period as opportunity may offer, definition of "Registration Event," and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees (iii) the ability of the Purchaser to pay the difference between sum equal effect sales pursuant to the amount Registration Statement in the case of rent payable during the residue CLAUSE (C) of the Term definition of "Registration Event," and net rent received by (iv) in the Lessor during case of the Term after deducting all expenses events described in CLAUSES (B) and (C) of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthly.definition of "Registration Event," the earlier termination of the

Appears in 1 contract

Sources: Registration Rights Agreement (National Coal Corp)

Default. If default Section 1. Subject to the provisions of this Article XVII, this Lease is made upon the express condition that Lessee shall faithfully and punctually perform and observe all the agreements, covenants and conditions herein set forth to be performed by Lessee, and that if at any time any Rent, Additional Rent, Taxes, insurance premiums, utilities charges or any other monies required to be paid by Lessee hereunder, or any part thereof, shall be in the payment arrears and unpaid for a period of any installment of rent on the due date thereoften (10) days after notice in writing thereof shall have been given by Lessor to Lessee, or if Lessee defaults shall default be made or suffered in the performance or observance of any of the other agreement (other than payment covenants or conditions of rent) in this Lease Lease, and if Lessee fails to cure such default within thirty (other than payment of rent), continues for ten 30) days after written notice thereofin writing thereof shall have been given by Lessor to Lessee, or if the Premises nature of the default is such that it cannot be vacated or abandonedcured within thirty (30) days after notice, then in any if Lessee fails to commence to cure the default within the thirty (30) day notice period and to diligently and continuously thereafter proceeds to cure the default, Lessor shall have the right, at its election, to terminate this Lease or to enter upon the Leased Premises and take immediate possession thereof, and to bring suit for and collect from Lessee all Rents, Additional Rents, undisputed Taxes, utilities, insurance premiums, payments or other charges which shall have accrued up to the time of such event entry, and thence forward from the time of such entry this Lease shall terminatebecome void for all intents and purposes whatsoever, at subject, however, to the option right of Lessor to sue on such Lease for the Lessorcontinuing breach thereof, and this Lease ▇▇▇ all buildings and improvements upon the Leased Premises shall be forfeited to Lessor without compensation therefor to Lessee, or any other person, firm or corporation whomsoever, provided, however, that if Lessee shall twice in any consecutive twelve month period cure a payment default by making payment within ten (10) days of a notice of default, then upon the occurrence of a third payment default within the said consecutive twelve month period, Lessee shall have no right to cure the default and Lessor shall have no obligation other than to notify the Lessee that the payment default has occurred for a third time during a consecutive twelve month period and that Lessor is exercising its default remedies under the Lease. Such right to sue and the right to forfeit and reenter are cumulative and not excl▇▇▇ve of each other or of any other lawful right or remedy that Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal actionhave, and the Lessee expressly agrees, notwithstanding termination fact that Lessor may have brought suit and recovered judgment for Rent or other sums in default hereunder shall not impair its right to cause forfeiture of this Lease and re-entry reenter, upon the terms set forth herein, in case the default upon which any such suit was based shall continue unsatisfied for the period of time hereinabove stipulated for such forfeiture and entry. Regardless of anything to the contrary stated above, in addition to any other remedies set forth herein, Lessor may declare immediately due and payable from Lessee, in addition to any damages or other amounts becoming due from Lessee under any other provision of this Lease, an amounts equaling the difference between the Rent and all other payments due from Lessee under this Lease from the date of the default for the remaining Term to the expiration of this Lease and the then fair market value of the Leased Premises for the same period, both discounted to present value. Section 2. Should any of the events of default hereinabove specified occur, in case Lessor does not elect to exercise the right to terminate this Lease conferred by the provisions of Section 1 of this Article XVII, Lessor that shall nevertheless have, and is hereby expressly given, the Lessee shall remain liable for a sum equal right at its sole election to reenter the entire rent payable Leased Premises with or without legal process, and to the end of the Term hereof remove and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent store for Lessee, without notice may re-let Lessee's signs and all property and effects of Lessee or other occupants of Leased Premises, and to relet the Leased Premises upon such terms and to such person or any part thereof persons and for the remainder such period or periods as Lessor may reasonably determine: and in case of the Term or such reletting, Lessee shall be liable to Lessor for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during Rents and payments herein reserved and agreed upon for the residue of the Term (except as hereinafter otherwise provided) and the rent realized by Lessor by such reletting, such net rent rents and payments to be determined by deducting from the entire rents and payments received by Lessor from such reletting, the expenses of recovering possession, reletting, altering and repairing the Leased Premises, storing Lessee's property, and collecting rent, including but not limited to brokers commissions, advertising costs and reasonable attorney's fees; and Lessee hereby agrees to pay to Lessor such deficiency each month, as the same may accrue. Lessee shall pay to Lessor within ten (10) days after the expiration of each month during such residue of the Term the difference between the Rents and payments for said month, and the net amount realized by Lessor from the Leased Premises during said month from such reletting. Lessor shall have the right at any time after deducting all expenses such reentry and reletting, in its sole discretion, to terminate this Lease and thence forward there shall be no liability on the part of every kind Lessee for repairsany future accruing Rent or payments reserved under this Lease. Section 3. If, recovering possession after the commencement of the Term (a) Lessee shall be adjudicated as bankrupt or adjudged to be insolvent; (b) a receiver or trustee shall be appointed for Lessee's property and reletting the same, which differences shall accrue and be payable monthly.affairs;

Appears in 1 contract

Sources: Net Lease (Source Interlink Companies Inc)

Default. If default is made in The happening of any one or more of the payment following events shall constitute an “event of default”: A. Tenant shall fail to pay when due any installment of rent on the due date thereofBase Rent, Additional Rent or if Lessee shall default in the performance of any other agreement (other than payment of rent) in amount owing under this Lease Lease, and such default shall continue for three (other than payment of rent), continues for ten 3) days after receipt of written notice thereoffrom Landlord; provided, or if the Premises however, that Tenant shall not be vacated or abandoned, then entitled to more than two (2) notices of a delinquency in a monetary obligation during any such event this Lease shall terminate, at the option of the LessorYear, and Lessor may re-enter if thereafter any Base Rent or other amount owing hereunder is not paid when due, a default shall be considered to have occurred even though no notice thereof is given; or Tenant shall fail to procure the Premises and take possession thereof, with release of any mechanic’s lien as set forth in Section 10. B. Tenant shall vacate or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from abandon the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights shall not continually operate its business in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let during Ordinary Business Hours and such cessation or curtailment of operations occurs for more than ten (10) days. C. This Lease or the remainder estate of Tenant hereunder shall be transferred to or shall pass to or devolve upon any other person or party except in a manner permitted herein. D. This Lease or the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof shall be taken upon execution or by other process of law directed against Tenant, or shall be taken upon or subject to any attachment at the instance of any creditor or claimant against Tenant, and said attachment shall not be discharged or disposed of within fifteen (15) days after the levy thereof. E. Tenant or any guarantor of this Lease shall file a petition in bankruptcy or insolvency or for reorganization or arrangement under the bankruptcy laws of the United States or under any insolvency act of any state, or shall voluntarily take advantage of any such law or act by answer or otherwise, or shall die, be dissolved, or shall make an assignment for the remainder benefit of creditors, or shall admit in writing its inability to pay its debts as they mature. F. Involuntary proceedings under any such bankruptcy law or insolvency act or for the dissolution of Tenant or any guarantor of this Lease shall be instituted against Tenant or such guarantor, or a receiver or trustee of all or substantially all of the Term property of Tenant or any guarantor of this Lease shall be appointed, and such proceeding shall not be dismissed or such receivership or trusteeship vacated within sixty (60) days after such institution or appointment. G. Tenant shall fail to take possession of the Premises within thirty (30) days of the commencement of the Primary Lease Term. H. Tenant shall fail to perform any of the other agreements, terms, covenants or conditions hereof on Tenant’s part to be performed, and such nonperformance shall continue for a period of thirty (30) days after notice thereof by Landlord to Tenant. I. In no event will Landlord or any mortgagee be responsible for any longer consequential damages incurred by Tenant, including, but not limited to, lost profits or shorter period interruption of business, as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount a result of rent payable during the residue of the Term and net rent received any alleged default by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyLandlord.

Appears in 1 contract

Sources: Office Building Lease (Georesources Inc)

Default. If The following events shall be deemed to be events of default is made in by ------- Tenant under this Lease: (i) if Tenant shall fail to pay any fixed or additional rent hereby reserved within ten (10) days after due date; (ii) if Tenant shall fail to comply with any term, or provision, or covenant of this Lease, other than the payment of any installment of rent on the due date thereofrent, or if Lessee and shall default in the performance of any other agreement not cure such failure within thirty (other than payment of rent30) in this Lease and such default (other than payment of rent), continues for ten days after written notice thereofthereof to Tenant; (iii) if Tenant shall become insolvent, or shall make a transfer with intent to defraud its creditors, or shall make an assignment for the benefit of its creditors; (iv) if Tenant shall file a petition under any section or chapter of the Premises National Bankruptcy Act; as amended, or under any similar law or statute of the United States or any state thereof; or Tenant shall be vacated adjudicated bankrupt or abandoned, then insolvent in proceedings filed thereunder; (v) if a receiver or trustee shall be appointed for all or substantially all of the assets of Tenant; or (vi) if Tenant shall desert or vacate any substantial portion of the Leased Premises. Upon the occurrence of any such event of default, Landlord shall have the option to pursue any one or more of the following remedies (as well as any other remedies provided by law) without any further notice or demand whatsoever: (a) Declare immediately due and payable the entire amount of the rent then remaining to be paid under this Lease shall terminate, at for the option balance of the Lessor, and Lessor may re-enter the Premises Lease term; (b) Enter upon and take possession thereof, with or without force or legal process and without notice or demand, of the service of notice, demand or legal process being hereby expressly waivedLeased Premises by any lawful means, and upon such entrydispossess, as aforesaidexpel, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for remove Tenant and any damages or for prosecution therefor; Lessor’s rights in such event other persons who may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let occupying the Leased Premises or any part thereof for (including changing or altering the remainder of the Term locks and other security devices) and remove and expel any personal property or trade fixtures located therein, all without being liable to any prosecution thereof or for any longer damages resulting therefrom. Such re-entry and/or repossession by Landlord shall not terminate this Lease nor relieve Tenant of its obligations under this Lease, including its obligation to pay rent (whether or shorter period not the time for payment of rent has been accelerated). In the event of such re-entry or repossession by Landlord, Landlord shall also have the option to re-let the Leased Premises as opportunity agent for Tenant (in the name of Landlord or in the name of Tenant), at any rent and for any term readily obtainable and receive the rent therefor, in which event Tenant shall be given credit for any rents that may offerarise by reason, of such re-letting (after first deducting all repossession costs, brokerage commissions, legal expenses, attorneys' fees, and at all other expenses in cleaning, repairing and altering the premises for re-letting); and (c) Forfeit and terminate this Lease forthwith. In the event of such rental as termination, Tenant shall immediately surrender the Leased Premises to Landlord and if Tenant fails to do so, Landlord may enter upon and take possession of the Leased Premises by any lawful means and expel or remove Tenant and any other person who may be obtainedoccupying said premises or any part thereof, and ▇▇▇▇▇▇ any personal property or trade fixtures located therein. In the event of the forfeiture of this Lease as herein provided, Tenant agrees that any security deposit being held by Landlord hereunder shall be retained by Landlord and applied against all damages incurred with respect to Tenant's default, which damages shall include all unpaid rent and any other damages accruing to Landlord by reason of the violation by Tenant of any of the terms, provisions and covenants of this Lease. Tenant hereby waives demand for rent, demand for possession, notice for forfeiture, notice of termination and any and all other demands or notices required by law. Pursuit by Landlord of any of the foregoing remedies or any other remedy provided by law shall not constitute a forfeiture or waiver of any rent due to Landlord hereunder or of any damages accruing to Landlord by reason of the violation by Tenant of any of the terms, provisions and covenants of this Lease. In no event shall Tenant be relieved from its obligation to pay the difference between sum equal rentals specified in this Lease by reason of a surrender of possession, termination of this Lease or in any other manner whatsoever, unless specifically agreed to the amount in writing by Landlord. No waiver by Landlord of rent payable during the residue any violation or breach of any of the Term terms, provisions and net rent received covenants of this Lease shall be deemed or construed to constitute a waiver of any other violation or breach of any of the terms, provisions and covenants herein contained. Forbearance by Landlord to enforce one or more of the Lessor during remedies herein provided upon an event of default shall not be deemed or construed to constitute a waiver of such default. If Landlord incurs any expenses, including court costs and attorneys' fees, as a result of a default by Tenant under this lease, then such expenses shall be reimbursed by Tenant as additional rent, whether or not such default is subsequently cured. Tenant's delinquent payments shall bear interest at the Term after deducting all expenses rate of every kind for repairs, recovering possession and reletting twelve percent (12%) per annum from the same, which differences shall accrue and be payable monthlydate of delinquency until paid.

Appears in 1 contract

Sources: Sublease Agreement (Concentric Network Corp)

Default. If and whenever: (a) the Tenant shall be in default is made in the payment of any installment money, whether hereby expressly reserved or deemed as Rent, or any part thereof, and such default shall continue for ten business (10) days following Notice by the Landlord requiring the Tenant to pay the same; (b) the leasehold interest hereunder, or any goods, chattels or equipment of rent on the due date thereofTenant located in the Lease Area, shall be taken or seized in execution or attachment, or if Lessee any writ of execution shall default in issue against the performance Tenant, or the Tenant shall become insolvent or commit an act of bankruptcy or become bankrupt or take the benefit of any Act that may be in force for bankrupt or insolvent debtors or become involved in voluntary or involuntary winding up, dissolution or liquidation proceedings, or if a receiver shall be appointed for the affairs, business, property or revenues of the Tenant; (c) the Tenant shall fail to commence, diligently pursue and complete the Tenant’s Work to be performed pursuant to this Agreement or other agreement (signed by the parties, or vacate or abandon the Lease Area, or fail or cease to operate or otherwise cease to use the Lease Area except for reasonable interruptions for maintenance, repair, and periodic seasonal or other than payment of rent) in this Lease and such default (other than payment of rent), continues for ten days after written notice thereofshutdowns, or if the Premises be vacated Tenant shall assign or abandonedsublet or fail to cure a default under Section 19.1(d) or move or commence, then attempt, or threaten to move its goods, chattels and equipment out of the Lease Area, other than in the routine course of its business, after fourteen (14) days following Notice from the Landlord requiring that the Tenant remedy, correct or comply or, in the case of any such event default which would reasonably require more than fourteen (14) days to rectify, unless the Tenant shall commence rectification to the satisfaction of the Landlord, acting reasonably, within the said fourteen (14) day notice period and thereafter promptly and diligently proceed with the rectification of any such default to the satisfaction of the Landlord, acting reasonably; or (d) the Tenant shall not observe, perform and keep each and every of the covenants, agreements, stipulations, obligations, conditions and other provisions of this Lease Agreement to be observed, performed and kept by the Tenant and shall terminatepersist in such default, in the case of monetary payments, beyond the period stipulated in Section 19.1(a) or, in the case of any other default, beyond the period stipulated in Section 19.1(c), then, and in each of such cases, and at the option of the LessorLandlord, this Lease may be terminated and the Term shall then immediately become forfeited and void, and Lessor the Landlord may without Notice or any form of legal process whatever forthwith re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises Area or any part thereof for and in the remainder name of the Term or for any longer or shorter period whole repossess and enjoy the same as opportunity may offerof its former estate, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal anything contained herein to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlycontrary notwithstanding.

Appears in 1 contract

Sources: Land Lease Agreement

Default. If default is made in the payment of Tenant shall fail to pay any installment of the fixed rent on reserved herein within five (5) business days of the date the same shall become due and payable or any other charges within twenty (20) days of the date thereofthe same shall become due and payable, although no demand shall have been made for same unless required hereunder, or if Lessee Tenant shall default in violate or fail or neglect to keep and perform any of the performance terms, covenants, conditions or agreements herein contained on the part of any other agreement (Tenant to be kept and performed, other than payment of rentrent and the same is not cured or corrected within thirty (30) in this Lease and such default (other than payment of rent), continues for ten days after written notice thereofthereof (unless the same cannot be cured within thirty (30) days in which event Tenant shall have commenced to cure the same within said 30 day period and diligently prosecutes the cure to completion), or if Tenant shall make an assignment of assets for benefit of creditors or file a voluntary petition in bankruptcy or be adjudicated bankrupt or insolvent, or if an involuntary petition in bankruptcy or for receivership be instituted against Tenant and the Premises same not be vacated or abandoneddismissed within sixty (60) days of the filing thereof, then then, and in any each and every such event this Lease shall terminateevent, and at all times thereafter, at the option of Landlord, Tenant's right of possession of the LessorLeased Premises and to reenter same and expel or remove Tenant and any other person who may be occupying said Leased Premises or any part thereof and any personal property or trade fixtures located therein without demand of rent or demand of possession, and Lessor may any notice to quit or of intention to re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon waived by Tenant. In the event of such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee process of law or otherwise, Tenant agrees to and shall remain liable for a sum equal any and all damage, deficiency or loss of rent which Landlord may sustain by such re-entry; and in such case Landlord reserves full power, which is hereby acceded by Tenant, to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises for the benefit of Tenant, in liquidation and discharge, in whole or in part, as the case may be, of the liability of Tenant under the terms and provisions of this Lease. If Tenant becomes the subject debtor in a case pending under the Federal Bankruptcy Code, Landlord's fight to terminate this Lease under this paragraph shall be subject to the applicable rights, if any, of the Trustee in Bankruptcy Code. The failure of the Trustee to effect such assumption or assignment hereof within the applicable time period provided in the Federal Bankruptcy Code shall (a) Tenant's gross receipts in the ordinary course of its business during the thirty (30) days immediately preceding the initiation of the case under the Federal Bankruptcy Code must be at least two (2) times greater than the next payment of rent due under this Lease, (b) both the average and median of Tenant's monthly gross receipts in the ordinary course of business during the six (6) months immediately preceding initiation of the case under Federal Bankruptcy Code must be at least two (2) times greater than the next payment of rent due under this Lease, (c) Tenant must pay to Landlord all rentals and other sums payable by Tenant hereunder including also therein its share (as estimated by Landlord) of the cost of all services provided by Landlord (whether directly or through agents or contractors, and whether or not the cost of such services, and (d) the Tenant must agree (by writing delivered to Landlord) that the Tenant's business liquidating sales, auctions, or other non-first class business operations shall be conducted on the Leased Premises, and that the use of the Leased Premises as stated in this lease will remain unchanged, and that the assumption or assignment of this Lease will not violate or affect the rights of other tenants in the building. In the event Tenant is unable to (i) cure its defaults, (ii) reimburse Landlord for its monetary damages, (iii) pay the rents due under this Lease or any other payments required of Tenant under this Lease on time, or (iv) meet the criteria and obligations imposed by (a) through (d) above in this paragraph 23, then Tenant hereby agrees in advance that it has not met its burden to provide adequate assurance of future performance, and this Lease may be terminated by Landlord in accordance with this paragraph. Should the Trustee fail to comply with the provisions of the Federal Bankruptcy Code governing the assumption or assignment of this Lease or should the Trustee reject this Lease then Landlord shall have the right to terminate this Lease by giving thirty (30) days prior written notice to Tenant. The provisions of this paragraph shall apply not only to a Trustee in Bankruptcy but also to Tenant as a Debtor In Possession Under the Federal Bankruptcy Code. Landlord's pursuit of any remedy herein provided shall not preclude pursuit of any other remedies provided by law, nor shall pursuit of any remedy herein provided constitute a forfeiture or waiver of any rent due to Landlord hereunder or of any damages accruing to Landlord by reason of the violation of Tenant of any of the terms, covenants, conditions or agreements of this Lease. In addition to the foregoing, upon such default, at Landlord's option, the entire amount of the rent then remaining to be paid under this Lease shall become due and payable provided, that Landlord's damages shall be such a sum as at the time of such default on the part thereof of Tenant represents the amount of excess, if any, of the then present value of the total fixed annual rent which would have accrued to Landlord under this Lease for the remainder of the Term or Lease term if the Lease term had been fully complied with by Tenant for any longer or shorter period as opportunity may offerthe balance of the Lease term over and above the then present rental value of the Leased Premises for the balance of the Lease term, such present values to be determined using an interest rate at the then current federal 30 year Treasury rate, and at any tenant improvements, commissions and other procurement costs. No waiver by Landlord of any violation or breach of any of the terms, covenants, conditions or agreements of this Lease shall be deemed or construed to constitute a waiver of any other violation or breach of any of the terms, covenants, conditions or agreements hereof; and no provision of this Lease shall be deemed to have been waived by Landlord unless such rental as may waiver shall be obtainedin writing signed by Landlord. No payment by Tenant or receipt by Landlord of a lesser amount than the monthly installments of rent herein stipulated shall be deemed to be other than on account of the earliest stipulated rent nor shall any endorsement or statement on any check or any letter accompanying any check or payment of rent be deemed an accord and satisfaction, and ▇▇▇▇▇▇ Landlord may accept such check or payment without prejudice to Landlord's right to recover the balance of such rent or pursue any other remedy provided in this Lease. In no event shall (leasing company/lender) cause to be recorded any financing statements, Uniform Commercial Code filings or their equivalents in connection with this Agreement which affect or otherwise impair title to Landlord's fixtures and real or personal property located on the Property. Tenant, upon default, agrees to pay all reasonable costs and expenses actually incurred and paid by Landlord in the difference between sum equal to the amount enforcement of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting Landlord's rights hereunder including all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyreasonable attorney's fees.

Appears in 1 contract

Sources: Lease Agreement (American Homepatient Inc)

Default. If 16.1 The Lessee covenants with the Lessor that if the Lessee violates or neglects any covenant, agreement or stipulation herein contained on its part to be kept, performed or observed and any such default is made in the payment of any installment of rent on the due date thereof, or if part of the Lessee shall default in the performance of any other agreement (other than payment of rent) in this Lease and such default (other than payment of rent), continues for ten 15 days after written notice thereofthereof to the Lessee by the Lessor (provided that if such default cannot reasonably be remedied within 15 days, then the Lessee shall not be in default if the Lessee commences to remedy the default within such 15-day period and proceeds with all reasonable diligence thereafter), or if any payments of rent or any part thereof, whether the same are demanded or not, are not paid within five days after written demand by the Lessor, or in case the Premises be are vacated or abandoned, become vacated or remain unoccupied for seven days then and in any such event case the Lessor in addition to any other remedy now or hereafter provided by law may at its option terminate this Lease shall terminateforthwith and re-enter and may remove all persons and property and may use such force and assistance in making such removal as the Lessor may deem advisable to recover at once full and exclusive possession of the Premises and such re-entry will not operate as a waiver or satisfaction in whole or in part of any right, claim or demand arising out of or connected with any breach or violations by the Lessee of any covenant or agreement on its part to be performed. 16.2 If the Term or any renewal thereof or any of the goods or chattels of the Lessee are at any time seized or taken in execution or attachment by any creditor of the Lessee or if the Lessor makes any assignment for the benefit of creditors or becomes bankrupt or insolvent or takes the benefit of any bankruptcy or insolvency legislation, the then current month's rent together with the rent accruing for the next three months (being in each case the net rent and the Taxes and the Lessee's Proportionate Share of Operating Expenses for those months) will immediately become due and payable, and the Term or any renewal thereof will at the option of the LessorLessor become forfeit and void, and it is lawful for the Lessor may at any time thereafter to re-enter into or upon the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof in the name of the whole and the same to have again, repossess and enjoy as of its former estate, notwithstanding anything herein contained to the contrary and neither this Lease nor any interests therein nor any estate hereby created will pass or enure to the benefit of any trustee in bankruptcy or any receiver or assignee for the remainder benefit of creditors or otherwise by operation of law. 16.3 No termination of this Lease shall occur unless the Lessor provides written notice to the Lessee of termination of this Lease. 16.4 In the event of default pursuant to section 16.1 of this Lease, the Lessor may, at its option in lieu of terminating this Lease, enter the Premises as agent of the Term Lessee and as such agent, relet them for whatever term (which may be for a term extending beyond the Term) and on whatever terms and conditions as the Lessor acting reasonably may determine and to receive the rent therefor and, as the agent of the Lessee, to remove any property of the Lessee or for any longer other property thereon and to store the same at the expense and risk of the Lessee and the Lessor may sell or shorter period as opportunity may offerotherwise dispose of the same at public or private sale, and at further the Lessor may make such rental alterations to the Premises in order to facilitate their reletting as may be obtainedthe Lessor shall determine, and ▇▇▇▇▇▇ agrees to pay may apply the difference between sum equal to the amount of rent payable during the residue net proceeds of the Term and net rent received sale of any property of the Lessee or other property or from the reletting of the Premises, less all expenses incurred by the Lessor during in making the Term after deducting all expenses of every kind Premises ready for repairs, recovering possession reletting and in reletting the samePremises, which differences on account of the rent due and to become due under this Lease and the Lessee shall accrue be liable to Lessor for any deficiency and for all such expenses incurred by the Lessor as aforesaid; no such entry or taking possession of or performing alterations to or reletting of the Premises by the Lessor shall be payable monthlyconstrued as an election on the Lessor's part to terminate this Lease unless a written notice of termination is given by the Lessor to the Lessee pursuant to section 16.3 of this Lease.

Appears in 1 contract

Sources: Office Lease (Chalk Media Corp)

Default. If default is made Pledgor defaults in the payment of the principal or interest under the Note when it becomes due (whether upon demand, acceleration or otherwise) or any installment other event of rent on default under the due date thereofNote or this Pledge Agreement occurs (including the bankruptcy or insolvency of Pledgor), or if Lessee shall default in the performance Company may exercise any and all the rights, powers and remedies of any other agreement owner of the Pledged Units (other including the right to vote the Pledged Units and receive distributions with respect to such equity securities) and shall have any may exercise without demand any and all the rights and remedies granted to a secured party upon default under the Uniform Commercial Code of Delaware or otherwise available to the Company under applicable law. Without limiting the foregoing, the Company is authorized to sell, assign and deliver at its discretion, from time to time, all or any part of the Pledged Units at any private sale or public auction, on not less than payment of rent) in this Lease and such default (other than payment of rent), continues for ten days after written notice thereof, or if the Premises be vacated or abandoned, then in any such event this Lease shall terminateto Pledgor, at the option of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with such price or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, prices and upon such entryterms as the Company may deem advisable. Pledgor shall have no right to redeem the Pledged Units after any such sale or assignment. At any such sale or auction, as aforesaid, this Lease shall terminate and the Lessor Company may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal actionbid for, and become the Lessee expressly agreespurchaser of, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises whole or any part thereof for the remainder of the Term or Pledged Units offered for sale. In case of any such sale, after deducting the costs, attorneys’ fees and other expenses of sale and delivery, the remaining proceeds of such sale shall be applied to the principal of and accrued interest on the Note; provided that after payment in full of the indebtedness evidenced by the Note, the balance of the proceeds of sale then remaining shall be paid to Pledgor and Pledgor shall be entitled to the return of any of the Pledged Units remaining in the hands of the Company. Except as and to the extent otherwise provided in the Note, Pledgor shall be liable for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees deficiency if the remaining proceeds are insufficient to pay the difference between sum equal to indebtedness under the amount Note in full, including the fees of rent payable during the residue of the Term and net rent received any attorneys employed by the Lessor during Company to collect such deficiency. For the Term after deducting all expenses avoidance of every kind for repairsdoubt, recovering possession the Company’s exercise of its rights under this Section 5 is at its sole discretion and reletting nothing contained herein shall restrict the same, which differences shall accrue and be payable monthlyCompany in any manner from pursuing any potential cause of action against Pledgor with respect to any event of default.

Appears in 1 contract

Sources: Senior Management Agreement (Pathology Solutions, LLC)

Default. If default is made in the payment of any installment of rent on the due date thereof, or if Lessee shall default in the performance of any other agreement (other than payment of rent) in this Lease and such default (other than payment of rent), ) continues for ten days after written notice thereof, or if the Premises be vacated or abandoned, then in any such event this Lease shall terminate, at the option of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefortherefore; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof term hereof, plus interest as described in Section 2 herein, and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, Lessee without notice may re-let the Leased leased Premises or any part thereof for the remainder of the Term term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term term and net rent actually received by the Lessor during the Term term after deducting all expenses of every kind for repairs, recovering possession and reletting re-letting the same, which differences shall accrue and be payable monthly.

Appears in 1 contract

Sources: Lease Agreement

Default. 22.1 An “Event of Default” shall be deemed to have occurred with respect to an AHG Shareholder if such AHG Shareholder commits a material breach of this Agreement or the Company’s constitutional documents (including the Articles of Association). 22.2 If default a non-defaulting AHG Shareholder (a “Non-Defaulting AHG Shareholder”) becomes aware of an Event of Default, it shall promptly provide written notice to the AHG Shareholder who has committed the Event of Default (the “Defaulting AHG Shareholder”) and the Company as soon as reasonably practicable upon becoming aware of such Event of Default. 22.3 As soon as reasonably practicable upon the Company becoming aware that an Event of Default has occurred in relation to an AHG Shareholder (including pursuant to receipt of a notice under Clause 22.2), the Company shall notify each AHG Shareholder in writing and such notice shall also set out the number of Default Securities Beneficially Owned by the Defaulting AHG Shareholder. 22.4 Upon the occurrence of an Event of Default and for so long as such Event of Default remains unremedied to the Company’s reasonable satisfaction: 22.4.1 all rights under this Agreement held by the Defaulting AHG Shareholder shall be suspended and shall not be exercisable by such Defaulting AHG Shareholder; and 22.4.2 the Defaulting AHG Shareholder shall cease to have any rights to vote or otherwise give its consent for any matter concerning the Group, including any Supermajority Reserved Matter, Reserved Matter or Liquidity Matter (and where a vote is made to be taken on any such Supermajority Reserved Matter, Reserved Matter or Liquidity Matter, the votes attributable to the Securities held by the Defaulting AHG Shareholder shall be disregarded) and the Defaulting Shareholder shall abstain from voting (or procuring the voting of) any Voting Shares it beneficially owns on any resolutions of the Company, (each of the above being a “Default Consequence”). 22.5 If an Event of Default is capable of remedy, the Defaulting AHG Shareholder shall have sixty (60) days (the “Cure Period”) to remedy an Event of Default from the date on which the Defaulting AHG Shareholder first becomes aware of such Event of Default. If the Event of Default is not capable of remedy or is not remedied in the payment of any installment of rent on Cure Period, then the due date thereofDefault Consequences shall continue to apply to such Defaulting AHG Shareholders’ Default Securities, or if Lessee shall default including in the performance event of any other agreement (other than payment a Transfer of rent) in this Lease and such default (other than payment of rent), continues for ten days after written notice thereof, or if the Premises be vacated or abandoned, then in any such event this Lease shall terminate, at the option of the Lessor, and Lessor may reDefault Securities to a Non-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises Defaulting AHG Shareholder or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyThird Party Purchaser.

Appears in 1 contract

Sources: Shareholder Agreement (Capital World Investors)

Default. (a) Purchaser shall be in default under this Agreement (a Purchaser's Event of Default) if any of the following events shall occur: (i) If default is made in Purchaser shall be obligated to close the payment Escrow pursuant to the terms of any installment of rent this Agreement and Purchaser fails to pay the Purchase Price and to close the Escrow on the date scheduled therefor as provided in this Agreement; (ii) Purchaser shall fail to pay any monies due date thereof, or if Lessee shall default in the performance of any other agreement accordance with this Agreement (other than payment the obligations referenced in Subparagraph (i)) by 5:00 p.m. MST on the stated due date; or (iii) Purchaser shall fail to fully and timely perform any of rent) in this Lease and such default Purchaser's obligations (other than payment the monetary obligations referenced in Subparagraphs (i) and (ii)) arising under this Agreement by 5:00 p.m. MST on the fifth (5th) Business Day after Purchaser's receipt of rent), continues for ten days after written notice thereof, or from Seller specifying Purchaser's nonperformance. (b) Seller shall be in default under this Agreement (a Seller's Event of Default) if any of the Premises following events shall occur: (i) If Seller shall be vacated or abandoned, then obligated to close the Escrow pursuant to the terms of this Agreement and Seller fails to close the Escrow on the date scheduled therefor as provided in this Agreement; (ii) Seller shall fail to fully and timely perform any of Seller's obligations arising under this Agreement (other than the obligations referenced in Subparagraph (i)) and such failure shall continue past 5:00 p.m. MST on the fifth (5th) Business Day after Seller's receipt of written notice from Purchaser specifying Seller's nonperformance; or (iii) any representation of Seller becomes untrue in any material respect and Seller fails to cure such event this Lease untruth in accordance with Section 7(b). (c) If a Seller's Event of Default shall terminateexist, Purchaser, at Purchaser's sole option and as Purchaser's sole remedies, may (i) cancel this Agreement by written notice to Seller and Title Company whereupon the option of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and Earnest Money plus interes▇ ▇▇▇▇eon shall be paid immediately by Title Company to Purchaser and, except as otherwise provided in this Agreement as to any Survival Item, neither Purchaser nor Seller shall have any further liability or obligation hereunder; or, (ii) seek specific performance against Seller by delivering the Purchase Price into the Escrow; provided, however, that as conditions precedent to such action for specific performance: [a] no uncured Purchaser's Event of Default shall exist and no event shall have occurred which with the passage of time or with notice, or both, could become a Purchaser's Event of Default; and [b] Purchaser shall not seek to amend the Purchase Price in such action, in which event the Closing shall be automatically extended as necessary. (d) If a Purchaser's Event of Default shall exist, as Seller's sole remedy (in lieu of any other legal or equitable remedies against Purchaser which Seller expressly waives except as hereinafter provided otherwise) Seller shall be entitled to retain the Earnest Money only in accord▇▇▇▇ agrees ▇ith Section 3(b) as Seller's agreed and total liquidated damages unless Purchaser objects to, fails to pay the difference between sum equal to the amount cooperate with or otherwise opposes Seller's withdrawal of rent payable during the residue such Earnest Money out of the Term and net rent received by Es▇▇▇▇, in which event Seller shall have all of the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyremedies otherwise available to Seller at law or in equity.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Development Partners Ii)

Default. If default is made in the payment of any installment of rent on the due date thereof, or if Lessee Tenant shall default in the performance of any other agreement (other than payment of rent) in this Lease its obligations and if such default (other than payment of rent), continues shall continue for ten (10) days after written notice thereofthereof by the Landlord to the Tenant, hereinafter referred to as grace period, except that if the Tenant cannot reasonably cure any such default within said ten (10) day period, this period may be extended for a reasonable time, provided that the Tenant commences to cure such default within ten (10) day period and proceeds diligently thereafter to effect such cure, and further provided that Tenant shall be entitled to only one ten (10) day grace period in any twelve month period, or if the Premises Tenant shall be vacated adjudicated bankrupt or abandonedinsolvent according to law, or shall make an assignment for the benefit of creditors, then Landlord may lawfully enter the premises or any part thereof in any such event this Lease shall terminate, the name of the whole or mail a notice of termination addressed to Tenant at the option demised premises and repossess the same as of the Lessor, former estate of the Landlord and Lessor may re-enter expel the Premises Tenant and take possession thereof, with or those claiming under the Tenant without force or legal process being deemed guilty of any manner of trespass and without notice prejudice to any other remedies which the Landlord may have for arrears of rent or demand, the service preceding breach of notice, demand or legal process being hereby expressly waivedcovenant, and upon such entry, entry or mailing as aforesaid, this Lease lease shall terminate and the Lessor may exclude Lessee from Tenant covenants that in case of such termination, it will indemnify the PremisesLandlord against all loss of rent, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal actionreletting expenses, and brokerage, which the Lessee expressly agrees, notwithstanding Landlord may incur by reason of such termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term term. The Landlord may elect to receive as damages upon termination under this Section XXV either the amount by which, at the termination of this lease, the aggregate of the rent and other charges (including escalations projected on the basis of experience under the lease) projected over the period from such termination until the normal expiration date of the term exceeds the aggregate projected rental value of the premises for such period or amounts equal to the rent and other charges which would have been payable had the lease not so terminated, payable upon the due dates as specified herein (subject to offset for net rent events actually received from reletting after subtraction of the expenses or reletting proportionally allocated to the term of the reletting). Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the Lessor during date when the Term after deducting all expenses term of every kind this lease would have expired if it had not been terminated hereunder. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant. In the event of any termination of this lease or re-entry by Landlord under the provisions of this Section XXV, or in the event of the termination of this lease or of re-entry by or under any summary process or other proceeding or action or any provision of law by reason of default under this lease on the part of Tenant, then for repairs, recovering possession and reletting the same, which differences purposes of computing damages as shall accrue and be payable monthlypursuant to this Section XXV, it is agreed that: In calculating the damages under the first textual paragraph under this Section XXV, there shall be payable to Landlord as part of such damages the product of the Electricity Charge, the Escalation Excesses (Tax Excess and Operating Cost Excess) for the immediately preceding Lease Year, times the number of years then remaining unexpired of the term hereof, on the agreement the Electricity Charge and the Escalation Excess would have remained constant for each subsequent Lease Year of the full term hereby granted.

Appears in 1 contract

Sources: Lease Agreement (Ascent Pediatrics Inc)

Default. If default is made in a. Any one or more of the payment following events shall constitute and “Event of Default” hereunder: (i) if Sublessee fails to pay any installment of rent on the or additional rent within fifteen (15) days after it is due date thereof, or if Lessee shall default in the performance of any other agreement and within fifteen (other than payment of rent15) in this Lease and such default (other than payment of rent), continues for ten days after written notice thereofis given to Sublessee; (ii) if Sublessee fails to remedy a default by it with respect to any of the other covenants, conditions and agreements contained herein or in any rider, exhibit or other addendum hereto, Within forty-five (45) days after notice thereof and, in the event of any such alleged default in the obligation of Sublessee under this Sublease pursuant to clause (ii) of this paragraph, Sublessor will deliver to Sublessee within three (3) days of the occurrence, written notice listing the reasons for Sublessee‘s default and Sublessee wilhhave forty-five (45) days. following receipt of such notice to cure such alleged default or, in the event the alleged default cannot reasonably be cured within a forty-five (45) day period, to commence action and proceed diligently to cure such alleged default; or (iii) if a petition in bankruptcy is filed by Sublessee or if proceedings under any bankruptcy or debtor’s relief law is filed are taken by or against Sublessee, or if Sublessee becomes insolvent or admits in writing its inability to pay its debts as they become due, or if proceedings are taken by or against Sublessee seeking the appointment of a receive or similar relief, provided that in the event an involuntary petition is so”filed against Sublessee, there shall be no Event of Default unless the same is not dismissed within sixty( 60) days after its filing. b. If an Event of Default shall occur, Sublessor may, in addition to any other right or rights which Sublessor may have, serve a written three (3) days’ notice of cancellation of the Sublease Agreement upon Sublessee, and upon the expiration of said three (3) days, this Sublease Agreement and the term hereunder shall end and expire as fully and completely as if the date of expiration of such three (3) day period were the day herein definitely fixed for the end and expiration of this Sublease Agreement and the term thereof, and Sublessee shall then quit and surrender the Subleased Premises to Sublessor, but Sublessee shall remain liable as hereinafter provided. If the three (3) day notice of cancellation shall have been given, and the term shall expire as aforesaid, or if any execution or attachment shall be vacated issued against Sublessee or abandonedany of Sublessee’s property where upon the Leased Premises shall be taken or occupied by someone other than Sublessee, then and in any either of such event this Lease shall terminateevents Sublessor may, at the option of the Lessorwithout notice, and Lessor may re-enter the Leased Premises and take possession thereof, with dispossess Sublessee and the legal representative of Sublessee or without force other occupant of the Lease Premises by summary proceedings or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waivedotherwise, and upon remove their effects using such entry, force for such purposes as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed be necessary, if applicable, without being liable for prosecution, without being deemed guilty of any manner of trespass, and without prejudice to Lessee any remedies for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer arrears of rent or other proper legal actionamounts payable under this Subleasc Agreement or as a result of any preceding breach of covenants or conditions; and hold the Leased Premises as if this Sublease Agreement had not been made, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee but Sublessee shall remain liable for a sum equal hereunder as hereinafter provided. c. In case of any such default, re-entry, expiration and/or dispossession by summary proceedings otherwise, (1) all rent, additional rent and other sums to be paid by Sublessee pursuant to this Sublease Agreement shall become due thereupon and paid up to the entire rent payable to time of re-entry, dispossession and/or expiration, together with such reasonable expenses as Sublessor may incur for legal expenses, attorneys‘ fees, brokerage, and/or putting the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Leased Premises being let for the remainder of the original term for a less sum than before. Lessorin good order, as agent for Lessee, without notice (2) Sublessor may re-let the Leased Premises or any part thereof or parts thereof, either in the name of Sublessor or otherwise, for a term or terms, which may at Sublessor’s option be less than or exceed the period which would otherwise have constituted the balance of the term of this Sublease Agreement and may grant concessions of free rent and/or (3) Sublessee or the legal representatives of Sublessee shall also pay Sublessor as liquidated damages for the remainder failure of Sublessee to observe and perform Sublessee’s covenants herein contained, any deficiency between the rents and other sums hereby reserved and/or covenanted to be paid and the net amount, if any, of the Term rents collected on account of the lease or leases of the Lease Property for each month of the period which would otherwise have constituted the balance of the term of this Sublease Agreement. In computing such damages there shall be added to the said deficiency such reasonable expenses as Sublessor may incur in connection with re-letting, such as legal expenses, attorneys fees brokerage and for keeping the Leased Premises in good order. Sublessor, at Sublessor’s option, may make such alterations, repairs, decorations and replacements as are reasonably necessary or desirable for the purpose of re-letting the Leased Premises; and the making of such alterations and/or decorations shall not operate or be construed to release Sublessee from liability hereunder as aforesaid. Sublessor agrees to use commercially reasonable efforts to mitigate its damages from an Event of Default but neither the failure or refusal of Sublessor to re-let the Leased Premises or any part of parts thereof nor, in the event that the Leased Premises are re-let, the failure of Sublessor to collect the rent under such re-letting shall release or affect Sublessee’s liability for damages, and Sublessor shall not in any way be liable for same, but, if Sublessor fails to collect such rent, Sublessee is hereby authorized to collect the same and apply the same to any indebtedness owing to Sublessor. Any such damages shall be paid in monthly installments by Lessee on the rent days specified in this Sublease Agreement and any suit brought to collect the amount of deficiency for any longer month or shorter period as opportunity months shall not prejudice in any way the rights of Sublessor to collect the deficiency for any subsequent month or months by a similar proceeding. Any such action may offerbe an action for the full amounts of all rents then due or to be due to, and at all damages then suffered or to be suffered bySublessor. Mention in this Sublease Agreement of any particular remedy shall not preclude Sublessor from resorting to any other remedy, in law or in equity. The foregoing remedies and rights of Sublessor are cumulative. Sublessee expressly waives any and all rights or redemption granted by or under any present or future laws in the event of Sublessee’s eviction or dispossession for any cause. All costs incurred by Sublessor in collecting any amounts and damages owing by Sublessee pursuant to the provisions of this Sublease or to enforce any provision of this Sublease, including reasonable attomeys’ fees from the date any such rental matter is turned over to an attorney, whether or not one or more actions are commenced by Sublessor wil also be recoverable by Sublessor from Sublessee. d. Notwithstanding anything to the contrary herein, so long as may be obtained, and ▇▇▇▇▇▇ agrees ▇▇▇▇▇ is the Chief Executive Officer of Sublessee, Sublessor shall not be entitled to pay the difference between sum equal declare or allege that an Event of Default has occurred and shall not be entitled to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyexercise its remedies under this Section 18.

Appears in 1 contract

Sources: Sublease Agreement (Trinity Biotech PLC)

Default. If default is made in If (I) Maker shall fail to pay any sum within 15 days of the payment date when due hereunder; and such failure continues for 15 days following written notice of nonpayment to maker;provided,(ii) Maker shall fail to perform any installment of rent other obligation hereunder on the its due date thereof, or if Lessee shall default in and its failure continues period of 30 days following the performance of any other agreement (other than payment of rent) in this Lease and such default (other than payment of rent), continues for ten days after date Payee has delivered written notice thereof, or if the Premises be vacated or abandoned, then in of such failure to Maker; (iii) Maker shall fail to perform any such event this Lease shall terminate, at the option obligation under any of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable Security Documents after giving effect to Lessee for any damages or for prosecution therefor; Lessor’s rights applicable cure periods contained in such event may be enforced by action in unlawful detainer Security Document; or other proper legal action, and (iv) an Eveny of Default shall have occurred under the Lessee expressly agrees, notwithstanding termination Varrichio Noet regarless of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and whether Varrichio has acc▇▇▇▇▇▇▇▇ agrees ▇▇▇ ▇npaid principal balanc▇ ▇▇▇▇▇ ▇he Varichio Note. (any such default being hereinafter being called an :Event of Default"), the the entire unpaid principal on this Note together with interest accrued thereon and wit all other sums due or owed by Maker hereunder (including any unpaid fees) and under the terms of the Security Documents, shall, at the option of Payee and without notice to pay maker, become due and payable immediately with interest at the difference between sum rate equal to the amount lower of rent payable during 15% per annum or the residue highest interest rate permiited by law, togetherwith reasonable attorney's fees fro collection and payment and the same may be enforced and recovered by entry of judgement on this Note and the issuance and execution thereon. Maker (and all endorsers, sureties, and mortgagors) hereby waives all benefit that might accrue to Maker by virtue of any present or future laws exempting any property, real or personal, or any part of the Term proceeds arising from any sale of any such property, from attachment, levy or sale under execution, providing for any stay of execution, exemption from civil process or extension of time, and net rent received agrees that such property may be sold to satisfy any judgment entered on this Note or the Security Documents, in whole or in part, and in any order as may be desired by Payees. Maker (and all endorsers, and sureties, if any) waives presentment for payment, demand, notice of demand, notice of nonpayment or dishonor, protest and notice of protest of this Note, and all other notices in connection with the Lessor during delivery, acceptance, performance, default or enforcement of the Term after deducting all expenses payment of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlythis Note.

Appears in 1 contract

Sources: Mortgage Note (Ep Medsystems Inc)

Default. A. If default (i) Tenant fails to comply with any term, provision, condition, or covenant of this Lease or any of the Rules and Regulations now or hereafter established for government of the Building; (ii) Tenant deserts or vacates the Demised Premises; (iii) any petition is made in filed by or against Tenant under any section or chapter of the payment Bankruptcy Reform Act of 1978, as amended, or under any similar law or statute of the United States or of any installment state thereof; (iv) Tenant becomes insolvent or makes a transfer in fraud of rent on creditors; (v) Tenant makes an assignment for benefit of creditors; (vi) a receiver is appointed for Tenant or any of the due date thereofassets of Tenant: or (vii) tenant ceases to be a going concern; then Landlord may, or if Lessee shall after ten (10) days prior written notice to cure any non-monetary default in the performance of and after five (5) days prior written notice to cure any other agreement (other than payment of rent) monetary default in this Lease and such default (other than payment of rent)thereafter, continues for ten days after written notice thereof, or if the Premises be vacated or abandoned, then in any such event this Lease Landlord shall terminate, at have the option to do any one or more of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or following without force or legal process and without any notice or demand, in addition to and not in limitation of any other remedy permitted by law or by this Lease: i. Terminate this lease, in which event ▇▇▇▇▇▇ shall immediately surrender the service Demised Premises to Landlord and if Tenant fails so to do, Landlord may without prejudice to any other remedy which it may have for possession or arrearage in rent, enter upon and take possession of noticethe Demised Premises and expel or remove Tenant and any other person who may be occupying such Demised Premises or any part thereof, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors by force if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event or any claim of damages. ii. Enter upon and take possession of the Demised Premises and expel or remove ▇▇▇▇▇▇ and any other person who may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased occupying such Demised Premises or any part thereof thereof, by force if necessary, without being liable for the remainder of the Term prosecution or any claim for any longer or shorter period as opportunity may offerdamages herefore, and at such rental as may be obtainedrelet the Demised Premises and receive the rent herefore. iii. Enter upon the Demised Premises, by force if necessary without being liable for prosecution or any claim for damages herefore, and do whatever Tenant is obligated to do under the terms of this lease and ▇▇▇▇▇▇ agrees to reimburse Landlord on demand for any expenses which Landlord may incur in thus effecting compliance with ▇▇▇▇▇▇’s obligations under this Lease and ▇▇▇▇▇▇ further agrees that Landlord shall not be liable for any damages resulting to Tenant from such action, whether caused by the negligence of Landlord or otherwise. iv. Upon three (3) days written notice to Tenant, alter all locks and other security devices at the Demised Premises without terminating this Lease. B. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance of surrender of the Demised Premises by Tenant whether by agreement or by operation of law, it being understood that such surrender can be effected only by the written agreement of Landlord and ▇▇▇▇▇▇. No alteration of locks or other security devices and no removal or other exercise of dominion by Landlord over the property of Tenant or others at the Demised Premises shall be deemed unauthorized or constitute a conversion. All claims for damages by reason of re-entry, repossession and/or alteration of locks or other security devices are hereby waived, as are all claims for damages by reason of any distress warrant, forcible detainer proceedings, sequestration proceedings or other legal process. ▇▇▇▇▇▇ agrees that any re-entry by Landlord may be pursuant to judgment obtained in forcible detainer proceedings or other legal proceedings or without the necessity for any legal proceedings, as Landlord may elect, and Landlord shall not be liable in trespass or otherwise. C. If Landlord elects to terminate this Lease by reason of an event of default, then, notwithstanding, such terminations, Tenant shall be liable for and pay to Landlord, at the address specified for notice to Landlord herein, the sum of all rental and other indebtedness accrued to date of such termination (minus any amounts collected from any guarantor of this Lease) plus as damages, an amount equal to the difference between sum equal (i) the total rental hereunder for the remaining portion of this Lease term (had such term not been terminated by Landlord prior to the amount date of rent payable expiration stated herein), and (ii) the present value of the then fair rental value of the Demised Premises for such period. D. If Landlord elects to repossess the Demised Premises without terminating this Lease, then Tenant shall be liable for and shall pay to Landlord, at the address specified for notice to Landlord herein, all rental and other indebtedness accrued to the date of such repossession, plus rental required to be paid by Tenant to Landlord during the residue remainder of the Lease Term and until the date of expiration of the Lease Term as stated in herein diminished by any net rent sums thereafter received by Landlord through reletting the Lessor Demised Premises during said period (after deducting expenses incurred by ▇▇▇▇▇▇▇▇ as provided in Sub-Article 36.E. below). In no event shall Tenant be entitled to any excess of any rental obtained by reletting over and above the rental herein reserved. Actions to collect amounts due by Tenant to Landlord under this subparagraph may be brought from time to time, on one or more occasions, without the necessity of Landlord’s waiting until expiration of the Lease Term. E. In case of any event of default or breach by Tenant, Tenant shall also be liable for and shall pay to Landlord at the address specified for notice to Landlord herein in addition to any sum provided to be paid above, brokers fees incurred by Landlord in connection with reletting the whole or any part of the Demised Premises; the costs of removing and storing Tenant’s or other occupant’s property; the costs of repairing, altering, remodeling or otherwise putting the Demised Premises into condition acceptable to a new tenant or tenants; and all reasonable expenses incurred by Landlord in enforcing or defending Landlord’s right and/or remedies including reasonable attorney’s fees. F. In the event of termination or repossession of the Demised Premises for an event of default, Landlord shall make good faith, commercially reasonable efforts to relet or to attempt to relet the premises, or any portion thereof, or to collect rental after reletting and in the event of reletting, Landlord may relet the whole or any portion of the premises for any period to any tenant and for any use and purpose. Any sums received by Landlord as a result of any such reletting shall be credited against any damages due to Landlord because of Tenant’s default, but only to the extent that such monies are paid to Landlord for the use of the premises during what would have been the Lease Term. G. If Tenant fails to make any payment or cure any default hereunder within the time herein permitted, Landlord, without being under any obligation to do so and without thereby waiving such default, may make such payment and/or remedy such other default for the account of Tenant (and enter the premises for such purpose), and thereupon Tenant shall be obligated to, and hereby agrees to pay Landlord, upon demand, all costs, expenses and disbursements (including reasonable attorney’s fees) incurred by Landlord in taking such remedial action. H. In the event of any default by Landlord, ▇▇▇▇▇▇’s exclusive remedy shall be an action for damages. Tenant hereby waives the benefit of any laws granting a lien upon the property of Landlord and/or upon rent due Landlord), but prior to any such action, Tenant will give Landlord written notice specifying such default with particularity, and Landlord shall thereupon have thirty (30) days in which to cure any such default. Unless and until Landlord fails to cure any default after such notice, Tenant shall not have any remedy or cause of action by reason thereof. All obligations of Landlord hereunder will be construed as covenants, not conditions; and all such obligations will be binding upon Landlord only during the period of its possession of the premises and not thereafter. The term “Landlord” shall mean only the owner, the Demised Premises, and in the event of the transfer by such owner of its interest in the Demised Premises, such owner shall thereupon be released and discharged from all covenants and obligation of Landlord thereafter accruing, but such covenants and obligations shall be binding during the Lease Term after deducting all expenses upon each new owner for the duration of every such owner’s ownership. Notwithstanding any other provision to the contrary herein, Landlord shall not have any personal liability hereunder. In the event of any breach or default by Landlord in any term or provision of this Lease, ▇▇▇▇▇▇ agrees to look solely to the equity or interest then owned by Landlord in the Demised Premises; however, in no event, shall any deficiency judgment or any money judgment of any kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlysought or obtained against Landlord.

Appears in 1 contract

Sources: Lease (New River Pharmaceuticals Inc)

Default. If default is made in the payment of any installment of rent on the due date thereof, or if Lessee shall default defaults in the performance or observance of any other agreement (other than payment of rent) in this Lease the covenants or conditions herein contained on its part to be performed or observed, the Lessor may give to the Lessee written notice thereof specifying the default, and if such default has not been cured within thirty (other than payment 30) days of rent)the giving of such notice, continues for ten days after or such longer period as is hereinafter provided, the Lessor may give to the Lessee written notice thereofof the termination of this lease, or if and the Lessee shall then surrender the Premises be vacated or abandoned, then in any such event this Lease shall terminate, at the option of to the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude at any time after such termination resume possession of the Premises by any lawful means and, subject to the Lessee's right to remove its building and other improvements, remove the Lessee from the Premisesand other occupants and their effects, changing the lock on the door by dispossess proceedings or doors if deemed necessary, if applicableotherwise, without being liable to Lessee for any damages prosecution or for prosecution damage therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action. Provided, and however, that, if the Lessee expressly agrees, notwithstanding termination of this Lease and reshall in good faith contest-entry whether the Lessee is in default as specified in any written notice specifying default given by the Lessor that as herein above provided (other than default in the payment of the rent hereunder) by instituting proceedings at law or in equity in any court of law having jurisdiction over the matter within thirty (30) days of the giving of such notice, the time within which the Lessee shall remain liable for a sum equal have to cure such default, if any, shall be extended to the entire rent payable date which is thirty (30) days after a 7 final adjudication of such proceedings unfavorable to the end Lessee and the expiration of any applicable appeal period, or, if any appeal be taken and prosecuted by the Lessee in good faith, thirty (30) days after a final adjudication of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal appeal unfavorable to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyLessee.

Appears in 1 contract

Sources: Lease Agreement (Ipswich Bancshares Inc)

Default. If Should Tenant at any time be in default is made in the payment of with respect to any installment of rent on the due date thereofrental payments or other charges payable by Tenant, or if Lessee shall default in the performance of any other agreement (other than payment of rent) in this Lease and should such default continue for a period of three (other than payment of rent), continues for ten 3) days after written notice thereoffor Landlord to Tenant or should Tenant be in default in the prompt and full performance of any of its other promises, covenants or if agreements herein contained and should such default or breach of performance continue for more than a reasonable time (in no event to exceed thirty (30) days) after written notice thereof from Landlord to Tenant specifying the Premises be vacated particulars of such default or abandonedbreach of performance or should Tenant vacate or abandon the Premises, then Landlord my treat the occurrence of any one or more of the foregoing events as a breach of this Lease, and in addition to any such event this Lease or all other rights or remedies of Landlord hereunder and by law provided, it shall terminatebe, at the option of Landlord, without further notice or demand of any kind to Tenant or any other person: (a) The right of Landlord to declare the Lessor, term hereof ended and Lessor may re-enter to reenter the Premises and take possession thereof, with or without force or legal process thereof and without notice or demand, the service of notice, demand or legal process being hereby expressly waivedremove all persons therefrom, and upon such entry, as aforesaid, Tenant shall have no further claim thereon or hereunder; or (b) The right of Landlord without declaring this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable ended to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of reenter the Premises being let for and occupy the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises whole or any part thereof for and on account of Tenant and to collect any unpaid rentals and other charges, which have become payable, or which may thereafter become payable; or (c) The right of Landlord, even though it may have reentered the remainder Premises, to thereafter elect to terminate this Lease and all of the Term rights of Tenant in and to the Premises. Should Landlord have reentered the Premises under the provisions of subparagraph (b) above, Landlord shall not be deemed to have terminated this Lease, or the liability of Tenant to pay any rental or other charges thereafter accruing, or to have terminated Tenant's liability for damages under any longer of the provision hereof, by any such reentry or shorter period as opportunity may offerby any action, in unlawful detainer or otherwise, to obtain possession of the Premises, unless Landlord shall have notified Tenant in writing that Landlord has so elected to terminate this Lease, and Tenant further covenants that the service by Landlord of any notice pursuant to the unlawful detainer statutes of Colorado and the surrender of possession pursuant to such notice shall not (unless Landlord elects to the contrary at the time of or at any time subsequent to the serving of such notices and such election is evidenced by a written notice to Tenant) be deemed to be a termination of this Lease. In the event of any entry or taking possession of the Premises as aforesaid, Landlord shall have the right, but not the obligation, to removed therefrom all or any part of the personal property located therein and may place the same in storage at a public warehouse at the expense and risk of Tenant. Should Landlord elect to terminate this Lease pursuant to the provisions of subparagraph (a) or (c) above, Landlord may recover from Tenant as damages, the following: (i) the worth at the time of award of any unpaid rental which had been earned at the time of such termination; plus (ii) the worth at the time of award of the amount by which the unpaid rental which would have been earned after termination until the time of award exceeds the amount of such rental loss Tenant proves could have been reasonably avoided; plus (iii) the worth at the time of award of the amount by which the unpaid rental for the balance of the term after the time of award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided; plus (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligation under this Lease or which in the ordinary course of things would be likely to result therefrom, including, but not limited to any costs or expenses incurred by Landlord in (a) retaking possession of the Premises, including reasonable attorneys' fees therefor, (b) maintaining or preserving the Premises after such default, (c) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises for such reletting, (d) leasing commissions, or (e) any other costs necessary or appropriate to relet the Premises; plus (v) at Landlord's election, such other amount in addition to or in lieu of the foregoing as may be obtainedpermitted from time to time by the laws of the State of Colorado. As used in subparagraphs (i) and (ii) above, the "worth at the time of award" is computed by allowing interest at the rate of eighteen percent (18%) per annum. As used in subparagraph (iii) above, the "worth at the time of award" is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Building at the time of award plus one percent (1%). In the event of default, all of Tenant's fixtures, furniture, equipment, improvements, additions, alterations, and ▇▇▇▇▇▇ other personal property shall remain on the Premises and in that event, and continuing during the length of said default, Landlord shall have the right to take the exclusive possession of same and to use same, rent or charge free, until all defaults are cured or, at its option, at any time during the term of this Lease, to require Tenant to forthwith remove same. Notwithstanding any other provisions of this Article 16, Landlord agrees that if the default complained of, other than for the payment of monies, is of such a nature that the same cannot be rectified or cured within the period requiring such rectification or curing as specified in the written notice relating thereto, then such default shall be deemed to be rectified or cured if Tenant within such period shall have commenced the rectification and curing thereof and shall continue thereafter with all due diligence to cause such rectification and curing and does so complete the same with the use of such diligence as aforesaid. The remedies given to Landlord in this Article 16 shall be in addition and supplemental to all other rights or remedies which Landlord may have under laws then in force. The waiver by Landlord of any breach of any term, convenant or condition herein contained shall not be deemed to be a waiver of such term, convenant or condition or of any subsequent breach of the same or any other term, convenant or condition herein contained. The subsequent acceptance of rental hereunder by Landlord shall not be deemed to be a waiver of any preceding breach by Tenant of any term, covenant or condition of this Lease, other than the failure of Tenant to pay the difference between sum equal particular rental so accepted, regardless of Landlord's knowledge of such preceding breach at the time of acceptance of such rental. No covenant, term or condition of his Lease shall be deemed to the amount of rent payable during the residue of the Term and net rent received have been waived by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and Landlord unless such waiver be payable monthlyin writing signed by Landlord.

Appears in 1 contract

Sources: Office Building Lease (Fortress Group Inc)

Default. If (a) Lessor or Sublessor may in writing declare this Agreement in default is made in ("Default") if: (1) Sublessee breaches its obligation to pay Rent or any other sum when due and fails to cure the payment breach within ten (10) days; (2) Sublessee breaches any of any installment of rent on the due date thereofits insurance obligations under SECTION IX hereof, or if Lessee shall default in Sublessee fails to comply with the performance provisions of SECTION XXIII of the Master Lease; (3) Sublessee breaches any of its other agreement obligations hereunder and fails to cure that breach within thirty (other than payment of rent30) in this Lease and such default (other than payment of rent), continues for ten days after written notice thereof; (4) any representation or warranty made by Sublessee in connection with this Agreement shall be false or misleading in any material respect; (5) Sublessee becomes insolvent or ceases to do business as a going concern; (6) any Equipment is illegally used; (7) a petition is filed by or against Sublessee under any bankruptcy or insolvency laws and, if such petition is filed against Sublessee, such petition is not dismissed within ninety (90) days; (8) Sublessee shall have terminated its corporate existence, consolidated with, merged into, or if conveyed or leased substantially all of its assets as an entirety to any person (such actions being referred to as an "Event"), unless not less than sixty (60) days prior to such Event: (x) such person is organized and existing under the Premises be vacated laws of the United States or abandonedany state, then and executes and delivers to Lessor and Sublessor an agreement containing an effective assumption by such person of the due and punctual performance of this Sublease; and (y) Lessor and Sublessor are reasonably satisfied as to the creditworthiness of such person; (9) effective control of Sublessor's voting capital stock, issued and outstanding from time to time, is not retained by the present stockholders (unless Sublessor shall have provided sixty (60) days' prior written notice to Lessor of the proposed disposition of stock and Lessor shall have consented thereto in any such event writing). Any provision of this Lease shall terminateAgreement to the contrary notwithstanding, Lessor and Sublessor may exercise all rights and remedies hereunder independently with respect to each Schedule. (b) After Default, at the option request of the Lessor, and Sublessee shall comply with the provisions of SECTION X(a) hereof. Sublessee hereby authorizes Lessor may re-enter the Premises to enter, with or without legal process, any premises where any Equipment is located and take possession thereof. Sublessee shall, without further demand, forthwith pay to Lessor (i) as liquidated damages for loss of a bargain and not as a penalty, the Stipulated Loss Value of the Equipment (calculated in accordance with Annex D to the Master Lease as of the Rent Payment date next preceding the declaration of default), and (ii) all Rent and other sums then due hereunder. Lessor may, but shall not be required to, sell the Equipment at private or public sale, in bulk or in parcels, with or without force or legal process notice, and without notice having the Equipment present at the place of sale; or demandLessor may, but shall not be required to, lease, otherwise dispose of or keep idle all or part of the service Equipment; and Lessor may use Sublessee's premises for any or all of noticethe foregoing without liability for rent, demand costs, damages or legal process being hereby expressly waivedotherwise. The proceeds of sale, lease or other disposition, if any, shall be applied in the following order of priorities: (1) to pay all of Lessor's costs, charges and expenses incurred in taking, removing, holding, repairing and selling, leasing or otherwise disposing of Equipment; then, (2) to the extent not previously paid by Sublessee, to pay Lessor all sums due from Sublessee hereunder; then (3) to reimburse to Sublessee any sums previously paid by Sublessee as liquidated damages; and (4) any surplus shall be remitted to Sublessee. Sublessee shall pay any deficiency in clauses (1) and (2) forthwith. (c) In addition to the foregoing rights, after Default, Lessor or Sublessor may terminate the lease as to any or all of the Equipment. (d) The foregoing remedies are cumulative, and upon such entryany or all thereof may be exercised in lieu of or in addition to each other or any remedies at law, as aforesaidin equity, this Lease shall terminate or under statute. Sublessee waives notice of sale or other disposition (and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal actiontime and place thereof), and the Lessee expressly agreesmanner and place of any advertising. If permitted by law, notwithstanding Sublessee shall pay reasonable attorney's fees actually incurred by Lessor and Sublessor in enforcing the provisions of this Sublease and any ancillary documents. Waiver of any Default shall not be a waiver of any other or subsequent default. (e) Any default under the terms of any other material agreement between Sublessor and Sublessee or any of their affiliates giving rise to the termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as other agreement may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received declared by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlySublessor a default under this agreement.

Appears in 1 contract

Sources: Master Establishment and Transition Agreement (Savvis Communications Corp)

Default. If It is mutually agreed that in the event the Tenant shall default is made in the payment of any installment of rent on the due date thereofherein reserved, or if Lessee shall when due, and fails to cure said default in the performance of any other agreement within ten (other than payment of rent10) in this Lease and such default (other than payment of rent), continues for ten days after written notice thereofthereof from Landlord; or if Tenant shall be in default in performing any of the terms or provisions of the lease other than the provision requiring the payment of rent, and fails to cure such default within thirty (30) days after the written notice of default from Landlord; or if Tenant is adjudicated bankrupt or if a permanent receiver is appointed for Tenant's property and such receiver is not removed within sixty (60) days after written notice from Landlord to Tenant to obtain such removal: or if, whether voluntarily or involuntarily, Tenant takes advantage of debtor relief proceedings under any present of future law, whereby the rent or any part thereof is, or is proposed to be, reduced or payment thereof deferred; or if the Premises Tenant makes an assignment for benefit of creditors; or if Tenant's property or any part thereof should be vacated levied upon or abandonedattached under process against Tenant and not satisfied or dissolved within thirty (30) days after written notice from Landlord to Tenant to obtain satisfaction thereof; then, then and in any such event this Lease shall terminatesaid events, Landlord, at the option his option, may at once, or within six (6) months thereafter (but only during continuance of such default or condition), terminate this lease by written notice to Tenant: whereupon this lease shall end. After an authorized assignment or subletting of the Lessorentire premises covered by this lease, the occurring of any of the foregoing defaults or events shall affect this lease only if caused by , or happening to the assignee or subtenant. Any notice provided in this paragraph may be given by Landlord, or Agent herein named. Upon such termination by Landlord, Tenant will at once surrender possession of the premises to Landlord and Lessor remove all of Tenant's property therefrom; and Landlord may forthwith re-enter the Premises premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waivedrepossess himself hereof, and upon remove all persons and property therefrom, using such entry, force as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, be necessary without being liable guilty of trespass, forcible entry to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal actiontort, and or the Lessee expressly agrees, notwithstanding termination violation of any of the terms of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlylease.

Appears in 1 contract

Sources: Lease Agreement (Mohawk Industries Inc)

Default. If default is made in the payment The occurrence of any installment of rent on the following shall constitute an "EVENT OF DEFAULT" hereunder: (i) if Subtenant fails to pay any Rent when due date thereof, or if Lessee shall default in the performance of any other agreement (other than payment of rent) in this Lease and such default (other than payment of rent), failure continues for ten three (3) days after written notice thereofof such failure (provided, however, that Subtenant shall not be entitled to such notice if Sublandlord has given notice to Subtenant of one or more previous such failures within a 12-month period, in which event such failure shall constitute a default hereunder upon the expiration of three (3) days after such payment was due without notice), or (ii) if Subtenant fails to perform or observe any of the terms of this Sublease other than those requiring the payment of Rent and such failure continues for ten (10) days after Sublandlord gives written notice of said failure; provided, however, that if the grace period for such default provided to Sublandlord under the Prime Lease is shorter than ten (10) days, the length of Subtenant's grace period shall be two (2) days less than Sublandlord's grace period and if the nature of the default is such that the default cannot reasonable be cured within ten (10) days, no default shall exist so long as Subtenant promptly commences and diligently prosecutes such cure to completion; or (iii) if the subleasehold hereby created shall be taken on execution, or by other process of law, or if the Premises any assignment shall be vacated or abandoned, then in any such event this Lease shall terminate, at the option made of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let Subtenant's property for the remainder benefit of the original term for creditors, or if a less sum than before. Lessorreceiver, as agent for Lesseeguardian, without notice may re-let the Leased Premises conservator, trustee in bankruptcy or similar officer shall be appointed to take charge of all or any part thereof for of Subtenant's property by a court of competent jurisdiction, or if a petition is filed by Subtenant under any bankruptcy or insolvency law, or if a petition is filed against Subtenant under any bankruptcy law and the remainder of same shall not be dismissed within thirty (30) days from the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, date upon which differences shall accrue and be payable monthlyit is filed.

Appears in 1 contract

Sources: Sublease (Chemconnect Inc)

Default. If 16.1 This Lease and the term and estate hereby granted are subject to the limitation that whenever Tenant shall make an assignment of the property of Tenant for the benefit of creditors, or shall file a voluntary petition under any bankruptcy or insolvency law or any involuntary petition alleging an act of bankruptcy or insolvency shall be filed against Tenant under any bankruptcy or insolvency law, or whenever a petition shall be filed by or against Tenant under the reorganization provisions of the United States Bankruptcy Act or under the provisions of any law of like import, or whenever a petition shall be filed by Tenant under the provisions of any law of like import, or whenever a permanent receiver of Tenant or of or for the property of Tenant shall be appointed, then, Landlord may, (a) at any time after receipt of notice of the occurrence of any such event, and (b) if such event occurs without the acquiescence of Tenant, at any time after the event continues for sixty (60) days, give Tenant a notice of intention to end the term of this Lease at the expiration of five (5) days from the date of service of such notice of intention, and upon the expiration of said five (5) day period, this Lease and the term and estate hereby granted, whether or not the term shall theretofore have commenced, shall terminate with the same effect as if that day were the Expiration Date, but Tenant shall remain liable for damages as provided in Article 18. 16.2 This Lease and the term and estate hereby granted are subject to further limitation as follows: (a) whenever Tenant shall default is made in the payment of any installment of rent on the due date thereoffixed annual rent, or in the payment of any additional rent or any other charge payable by Tenant to Landlord, on any day upon which the same ought to be paid, or (b) whenever Tenant shall do or permit anything to be done, whether by action or inaction, contrary to any of Tenant's obligations hereunder other than Tenant's obligations to pay fixed annual rent or additional rent or other charges under this Lease, and if Lessee such situation shall continue and shall not be remedied by Tenant within ten (10) days after Landlord shall have given to Tenant a notice specifying the same, or, in the case of a happening or default which cannot with due diligence be cured within a period of twenty (20) days and the continuation of which for the period required for cure will not subject Landlord to the risk of criminal liability (a more particularly described in Article 8 hereof) or termination of any superior lease or foreclosure of any superior mortgage, if Tenant shall not, (i) within said twenty (20) day period advice Landlord of Tenant's intention to duly institute all steps necessary to remedy such situation, (ii) duly institute within said twenty (20) day period, and thereafter diligently and continuously prosecute to completion all steps necessary to remedy the same and (iii) complete such remedy within such time after the date of the giving of said notice of Landlord as shall reasonably be necessary; or (c) whenever any event shall occur or any contingency shall arise whereby this Lease or the estate hereby granted or the unexpired balance of the term hereof would, by operation of law or otherwise, devolve upon or pass to any person, firm or corporation other than Tenant, except as expressly permitted by Article 11; or (d) whenever Tenant shall abandon the demised premises (unless as a result of a casualty) and such abandonment shall continue for twenty (20) days after Landlord shall have given Tenant notice thereof; or (e) whenever Tenant shall default in the due keeping, observing or performance of any other agreement covenant, agreement, provision or condition of Article 5 hereof on the part of Tenant to be kept, observed or performed and if such default shall continue and shall not be remedied by Tenant within five (other than payment 5) Business Days after Tenant receives a notice specifying the same; then in any of rentsaid cases set forth in the foregoing subsections (a), (b), (c), (d) in and (e), Landlord may give to Tenant a notice of intention to end the term of this Lease at the expiration of five (5) days from the date of the service of such notice of intention, and upon the expiration of said three (3) days this Lease and such default (other than payment of rent)the term and estate hereby granted, continues for ten days after written notice thereofwhether or not the term shall theretofore have commenced, or if the Premises be vacated or abandoned, then in any such event this Lease shall terminate, at the option of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and with the Lessor may exclude Lessee from same effect as if that day were the PremisesExpiration Date, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee but Tenant shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, damages as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyprovided in Article 18.

Appears in 1 contract

Sources: Lease Agreement (Interliant Inc)

Default. If default is made in the 9.01 Each and every payment of any installment rent and every other payment payable by the Tenant to the Landlord hereunder shall bear interest at the rate of rent on five percent (5%) per annum greater than the due prime rate of interest set by the Landlord's bank, from the date thereofwhen the same became payable under the terms of this lease until the same has been paid, or if Lessee shall default in the performance of any other agreement (other than payment of rent) in this Lease and such default (other than payment of rent), continues for ten days after written notice thereof, or if the Premises be vacated or abandoned, then in any such event this Lease shall terminate, at the option of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences interest shall accrue and be payable monthlywithout the necessity of any demand therefore being made. (a) It is hereby expressly understood and agreed that if, at any time and so often as the same shall happen, the Tenant makes default in the observance or performance of any covenant contained herein to be observed or performed by it, or fails to make payment of any money hereby undertaken to be paid by it, then the Landlord may, but shall not be obligated so to do, without waiving or releasing the Tenant from its obligations under this lease, itself observe and perform the covenant or covenants in respect of which the Tenant has made default or make payment of the moneys the Tenant has failed to pay. (b) All costs and expenses incurred by the Landlord in the observance or performance of such covenant or covenants, including, without limitation, legal costs and any moneys so paid by the Landlord, will, with interest thereon, be a charge on the leased premises in favour of the Landlord in priority to the interest of the Tenant hereunder and of any person claiming through or under the Tenant, and all such costs, expenses and moneys and interest thereon shall be payable forthwith by the Tenant to the Landlord, and the Tenant covenants to pay the same forthwith on demand by the Landlord, and the Landlord shall have the same rights and remedies and may take the same steps for the recovery thereof as for the recovery of rent in arrears. (c) PROVIDED, and it is expressly understood and agreed, that if the Tenant fails to make payment of any money demanded of the Tenant by a person other than the Landlord, and if the Tenant in good faith disputes the amount or propriety of any such claim made upon it, and if forfeiture of the building or lands or the registration of a lien against the building or lands will not result from nonpayment, then the Landlord shall not pay the same until such dispute has been resolved either by agreement of the Tenant or by the decision of a competent authority, and then only in the event that the Tenant has failed for a period of 10 days or more to make payment of the same. 9.03 Whenever the Landlord has the right under this lease to enter the leased premises, whether to inspect, repair, exhibit, re-enter or otherwise, and the Tenant neglects or refuses or is unavailable to allow such entry, the Landlord may enter by use of a master key or by such force as may be reasonably necessary, and the Landlord shall not be liable for any loss, damage or inconvenience suffered by the Tenant thereby. (a) The Tenant waives and renounces the benefit of any present or future law taking away or limiting the Landlord's rights against the property of the Tenant and, notwithstanding any such law, the Landlord may seize and sell all the Tenant's goods and property whether within the leased premises or not, and apply the proceeds of such sale to rent and all other amounts outstanding and to the costs of the seizure and sale in the same manner as might have been done if such law had not been passed. This clause shall only apply in the event that the Tenant is in default under this lease. (b) The Tenant further agrees that if it leaves the leased premises, leaving any rent or other amounts required to be paid under this lease unpaid, the Landlord, in addition to any remedy otherwise provided by law, may seize the goods and chattels of the Tenant at any place to which the Tenant or any other person may have removed them, and may sell such goods and chattels in the same manner as if such goods and chattels had remained upon the leased premises. 9.05 If and whenever the rent hereby reserved or any part thereof shall not be paid on the day appointed for payment thereof, whether lawfully demanded or not, or in case of breach or non-observance or non-performance of any of the covenants, agreements, provisos, conditions or rules and regulations to be kept, observed or performed by the Tenant, or in case the leased premises shall be vacated or remain unoccupied for 10 days, or in case the term shall be taken in execution or attachment for any cause whatsoever, THEN and in every such case, and notwithstanding anything contained in this lease to the contrary, it shall be lawful for the Landlord thereafter to enter into and upon the leased premises or any part thereof in the name of the whole and to have again, repossess and enjoy the same as of its former estate, PROVIDED ONLY that the Landlord shall not at any time have the right to re-enter and forfeit this lease by reason of the Tenant's default in payment of rent reserved by this lease, unless and until the Landlord shall have given to the Tenant at least 5 business days' written notice of its intention so to do and setting forth the amount of rent in arrears, and the Tenant shall have failed within such period to have paid the arrears. 9.06 The Tenant covenants and agrees that on the Landlord's becoming entitled to re-enter the leased premises under any of the provisions of this lease, the Landlord, in addition to all other rights, shall have the right to enter the leased premises as the agent of the Tenant, either by force or otherwise, without being liable for any prosecution therefor, and to relet the leased premises as the agent of the Tenant, and to receive the rent therefor, and as the agent of the Tenant to take possession of any furniture or other property on the leased premises and to sell the same at public or private sale without notice, and to apply the proceeds of such sale and any rent derived from re-letting the leased premises upon account of the rent under this lease, and the Tenant shall be liable to the Landlord for any deficiency. 9.07 The Tenant covenants and agrees that on the Landlord's becoming entitled to re-enter the leased premises under any of the provisions of this lease, the Landlord, in addition to all other rights, shall have the right to terminate forthwith this lease and the term by leaving upon the leased premises notice in writing of its intention to do so, and thereupon rent and additional rent shall be computed, apportioned and paid in full to the date of such termination of this lease, and any other payments for which the Tenant is liable under this lease shall be paid, and the Tenant shall immediately and peaceably deliver up possession of the leased premises to the Landlord, and the Landlord may re-enter and take possession of the same. 9.08 No condoning, excusing or overlooking by the Landlord of any default, breach or non-observance by the Tenant at any time in respect of any covenant, proviso or condition contained herein shall operate as a waiver of the Landlord's rights hereunder in respect of any continuing or subsequent default, breach or non-observance, or so as to defeat or affect in any way the rights of the Landlord herein in respect of any such continuing or subsequent default or breach, and no waiver shall be inferred from or implied by anything done or omitted by the Landlord, save only express waiver in writing. 9.09 All rights and remedies of the Landlord contained in this lease shall be cumulative and not alternative. 9.10 In the event of any breach by the Tenant of any covenant or proviso herein, the Landlord shall have the right to retain counsel to enforce the Landlord's rights hereunder or to advise thereon, and any solicitor-client costs incurred by the Landlord shall be paid by the Tenant to the Landlord forthwith on demand.

Appears in 1 contract

Sources: Lease Agreement (Royal Bodycare Inc/Nv)

Default. 18.1. If Sublessee shall default is made in the payment of any installment rent or other payments required of rent on the due date thereofSublessee, and if Sublessee shall fail to cure said default within seven (7) business days after receipt of written notice of said default from Sublessor; or if Lessee Sublessee shall default in the performance or observance of any other agreement or condition on its part to be performed or observed, and if Sublessee shall fail to cure said default within fifteen (other than payment of rent15) in this Lease and such default (other than payment of rent), continues for ten business days after receipt of written notice thereofof said default from Sublessor; or if any person shall levy upon, or take this leasehold interest or any part hereof, upon execution, attachment, or their process of law; or if Sublessee shall make an assignment of its property for the benefit of creditors; or if Sublessee shall file voluntary bankruptcy; or if any bankruptcy or insolvency proceedings shall be commenced by Sublessee or an involuntary bankruptcy shall be filed against the Sublessee which remains undischarged for a period of 60 days, or if a receiver, trustee, or assignee shall be appointed for the Premises be vacated whole or abandonedany part of the Sublessee’s property, then in Sublessor may exercise any or all remedies available under this Sublease or at law. The Sublessee shall be liable for a 5% late fee applicable to any amounts due under this Sublease, from the due date of such payment. 18.2. In the case of such termination, Sublessee will indemnify Sublessor each month against all loss of rent, and all obligations which Sublessor may incur by reasons of any such event termination, between the time of termination and the expiration of the term of this Lease shall terminate, Sublease; or at the option election of Sublessor, exercised at the time of the Lessortermination or at any time thereafter, Sublessee will indemnify Sublessor, each month until the exercise of the election, against all loss of rent and Lessor other obligations which Sublessor may re-enter incur by reason of such termination, during the Premises period between the time of the termination and take possession thereof, with or without force or legal process and without notice or demand, the service exercise of notice, demand or legal process being hereby expressly waivedthe election, and upon the exercise of the election Sublessee will pay to Sublessor as damages such entry, amount as aforesaid, this Lease shall terminate and at the Lessor may exclude Lessee time of the exercise of the election represents the amount by which the rental value of the leased Premises for the period from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end exercise of the Term hereof and shall pay any loss or deficiency sustained by election until the Lessor on account expiration of the Premises being let for the remainder of the original term for a shall be less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable and other payments provided herein to be paid by Sublessee to Sublessor during said period. It is understood and agreed that at the residue time of the Term termination, or at any time thereafter, the Sublessor shall diligently perform the legal obligation to relet the premises for a term which may expire after the expiration of the term of this Sublease, without releasing Sublessee from any liability whatsoever, only for the term of this Sublease, but not for the longer re-let term. The Sublessee shall be liable for any expenses incurred by Sublessor in connection with obtaining possession of the Subleased Premises, with removing from the Subleased Premises property of Sublessee and net persons claiming under it (including warehouse charges), with putting the Subleased Premises into a condition reletting similar to its condition at the commencement of this lease, reasonable wear and tear excepted, and with any reletting, including, but without limitation, reasonable attorneys’ fees and brokers’ fees, and that any monies collected from any reletting shall be applied first to the foregoing expenses and then to the payment of rent received by and all other payments due from Sublessee to Sublessor. The Sublessor shall, commensurate with any demand for payment of any of the Lessor during above as to expenses or rent, provide the Term after deducting Sublessee with an itemization of all expenses of every kind for repairs, recovering possession and reletting such items as a condition to the same, which differences shall accrue and be payable monthlySublessee’s obligations to make payment.

Appears in 1 contract

Sources: Sublease Agreement (Pc Connection Inc)

Default. 17.01 If default is made in the payment of LESSEE fails to pay any installment of rent on the due date thereof, RENT or if Lessee shall default in the performance of any other agreement money obligation to be paid by LESSEE until the terms of this LEASE when due, and if the same remains unpaid for a period of ten (other than payment of rent10) in this Lease and such default (other than payment of rent), continues for ten calendar days after written notice thereof, or if LESSEE shall fail to perform or observe any of its other obligations under this LEASE and shall fail to commence the Premises correction of such other default within ten (10) calendar days after notice to LESSEE by LESSOR of such default and to complete the correction thereof within a reasonable time thereafter; or if LESSEE abandons or vacates the LEASED PREMISES or makes an assignment for the benefit of creditors; or if LESSEE suffers a receiver or trustee to be appointed for its business or property, unless such appointment is vacated within sixty (60) calendar days of its entry; or abandonedif an order for relief under the federal Bankruptcy Code is entered naming LESSEE as debtor; or if LESSEE's interest in the LEASED PREMISES is sold upon execution or other legal process, then then, in any such event event, the right of LESSEE to occupy the LEASED PREMISES shall terminate immediately and LESSOR shall have the right to repossess the LEASED PREMISES and each and every part thereof, to declare all remaining rental payments under this Lease shall terminateLEASE to be due and payable immediately, at and to expel and put out LESSEE and every other person occupying the option LEASED PREMISES, without such termination, repossession or expulsion working a termination of this LEASE. Neither such termination of the Lessor, right of LESSEE to occupy the LEASED PREMISES nor such repossession by LESSOR shall relieve LESSEE from its obligations to pay RENT and Lessor may to perform and observe all of its other obligations under this LEASE. 17.02 In the event that LESSOR shall re-enter into possession of the Premises and take possession thereofLEASED PREMISES without termination of the LEASE TERM as contemplated by Section 17.01 of this LEASE, with LESSOR may, but shall not be required to, relet the LEASED PREMISES, in whole or without force in part, for the account of LESSEE to any person, firm or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, corporation at such rent and upon such entryother terms and conditions as LESSOR shall desire. In any such case, as aforesaid, this Lease shall terminate LESSOR may make such repairs and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal alterations to the entire rent payable LEASED PREMISES as are reasonably necessary in order to relet the end same and LESSEE shall, on demand by LESSOR, pay the costs thereof, together with LESSOR's expenses of reletting the Term hereof and shall pay LEASED PREMISES as additional RENT due under this LEASE. If the consideration collected by LESSOR upon any loss or deficiency sustained by the Lessor on such reletting for LESSEE's account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees is insufficient to pay the difference between sum equal full amount of the monthly RENT and any other monies to be paid the LESSEE under this LEASE, LESSEE shall pay to LESSOR as additional RENT the amount of rent payable during each such deficiency, upon demand by LESSOR. 17.03 In addition to the residue right of LESSOR under this ARTICLE XVII to terminate LESSEE's right to possession only to the Term LEASED PREMISES, LESSOR shall have the right to elect, at any time, after default by LESSEE (including any time after LESSOR has terminated LESSEE'S right to possession only to the LEASED PREMISES as contemplated by Section 17.01 of this LEASE), to cancel and net rent received terminate the LEASE TERM by the Lessor during the Term after deducting all expenses giving notice to LESSEE of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlysuch election.

Appears in 1 contract

Sources: Lease Agreement (Fti Consulting Inc)

Default. (a) If default is made in the payment of any installment of rent on the due date thereof, Rent or other payments herein agreed to be paid by Lessee shall remain or be unpaid thirty (30) days after written notice is received by Lessee; or if Lessee shall breach or fail to perform any of the covenants or agreements herein contained by Lessee to be performed, and such breach or nonperformance shall continue for thirty (30) days after written notice is received by Lessee (or, if the default requires more than thirty (30) days to be cured and Lessee shall not have commenced in good faith to cure said breach within such thirty (30) days and diligently prosecuted the same thereafter); or if Lessee shall become insolvent or shall admit in writing the inability of Lessee to pay Lessee’s debts generally as they become due, or shall file a petition in bankruptcy or make an assignment for the benefit of the creditors of Lessee, or shall consent to the appointment of a receiver of all or any part of Lessee’s property or business, or on a petition in bankruptcy filed against Lessee; or if Lessee shall be adjudicated a bankrupt (individually, an “Event of Default” and collectively, “Events of Default”); then and in any of said events, the Lessor may at any time thereafter, in its sole discretion, exercise any one of the remedies listed below: (i) terminate this Lease, take possession of all Leasehold Improvements wherever located, and for such purpose enter upon any premises to repossess such Leasehold Improvements; (ii) proceed by appropriate court action to enforce specific performance by Lessee of its obligations contained in this Lease; (iii) effectuate a sale of the Leasehold Improvements to Lessee, whereupon Lessee shall pay to Lessor an amount equal to the “Stipulated Loss Value” for the Leasehold Improvements as identified on Exhibit B attached to this Lease that corresponds to the month in which such sale occurs; or (iv) accept an assignment of all or any of the Leasehold Improvements from Lessee by Lessee’s assigning (with the written consent of the lessor under the Underlying Office Lease) the Underlying Office Lease for the Leased Office where the Leasehold Improvements are located, provided such Underlying Office Lease has a remaining term including renewals of at least five (5) years. (b) Delays occasioned by fire, strikes, embargoes, governmental restrictions, or other cause beyond the reasonable control of Lessee shall not be included in calculating any period of grace provided for herein. The time for the performance of any act required to be done by either party shall be extended by a period equal to any delay caused by or resulting from act of God, war, civil commotion, fire, casualty, labor difficulties, shortages of labor or materials or equipment, governmental regulation, act or default of the other agreement party, or other causes beyond such party’s reasonable control, whether such time be designated by a fixed date, or a fixed time or otherwise. (other than payment of rentc) in this Lease In the event that any dispute shall arise between Lessor and Lessee with respect to any claimed default by Lessee and such default (other than payment dispute is referred to arbitration or litigation pursuant to the terms of rent)this Lease, continues for ten days after written notice thereof, or if the Premises be vacated or abandoned, then in any such event this Lease shall terminate, at the option and provided Lessee performs all of the Lessor, other terms and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination conditions of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let except for the remainder item in dispute, no default shall be deemed to exist on the part of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof Lessee and no period for the remainder remedying of such alleged default shall be deemed to commence until the Term or for any longer or shorter period as opportunity may offer, and at day following the determination of such rental as may be obtained, and ▇▇▇▇▇▇ agrees dispute adversely to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyLessee.

Appears in 1 contract

Sources: Leasehold Improvements Lease (Huntington Preferred Capital Inc)

Default. A. If default is made Lessee(s), (1) defaults in the payment of any installment single installation of rent on or in the due date thereof, payment of any other sum required to be paid under this Lease or if Lessee shall default under the terms of any other agreement between Lessee(s) and Lessor; or (2) defaults in the performance of any other covenant or agreement hereof, Lessor may treat such event as a breach of this Lease and Lessor shall have any one or more of the following described remedies in addition to all other rights and remedies provided at law or in equity; Then: (other than payment a) Lessor may terminate this Lease and the term created hereby, in which event Lessor may forthwith repossess the apartment in accordance with law and Lessee(s) agrees to pay to Lessor damages in an amount equal to the amount of rent) rent provided in this Lease to be paid by ▇▇▇▇▇▇(s) for the balance of the term as set forth in this Lease less the fair rental value of the apartment for said period, and in addition, any other sum of money and damages owed by ▇▇▇▇▇▇(s) or Lessor, or (b) Lessor may terminate Lessee(s)' right of possession and may repossess the apartment in accordance with law without further demand or notice of any kind to Lessee(s) and without such entry and possession terminating this Lease or releasing Lessee(s) in whole or in part from Lessee(s)' obligation to pay rent hereunder for the full term. Upon and after such entry into possession without termination of this lease, Lessor may relet the apartment as ▇▇▇▇▇▇(s)' agent and may make repairs, alterations, and additions in or to the apartment and redecorate. Lessee(s) shall on demand pay to Lessor damages and all Lessor’s expenses of reletting as set forth. If the consideration collected by Lessor from any such reletting for ▇▇▇▇▇▇(s) account is not sufficient to pay the amount provided in the Lease to be paid monthly by Lessee(s) together with all such expenses, Lessee(s) shall pay to lessor, as damages, the amount of each month deficiency. ▇▇▇▇▇▇(s) agrees that Lessor may from time to time file suit to recover any such sums falling due under the terms of this paragraph and that no suit or recovery of any portion due Lessor hereunder shall be a defense to any subsequent action brought for any amount not theretofore reduced to judgment in favor of Lessor except that Lessor shall not be permitted more than one recovery in the aggregate amount so due. B. If Lessee(s) is the subject of an involuntary proceeding under any section of any bankruptcy act and any court or tribunal shall adjudge Lessee(s) insolvent or unable to pay Lessee(s) debts and such default order is not vacated within thirty (other than payment of rent), continues for ten 30) days after written notice thereofits entry, or if Lessee(s) files any voluntary section or similar proceeding under any section of any bankruptcy act in court or tribunal to delay or reduce or modify Lessee(s) debts or if Lessee(s) is declared insolvent according to law, or if any assignment of ▇▇▇▇▇▇(s) property shall be made for the Premises be vacated benefit of creditors, or abandoned, then in if any such event this Lease shall terminate, at the option of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with receiver or without force trustee is appointed for Lessee(s) or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaidhis property, this Lease shall automatically terminate and the without need of an election by Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to ▇’s remedy shall be as set forth in Sub-paragraph A above. C. Lessee(s) shall pay the difference between sum equal Lessor all Lessor’s costs, expenses and attorney’s fees pertaining to the amount of rent payable during the residue enforcement of the Term covenants and net rent received by the Lessor during the Term after deducting all expenses agreements of every kind for repairsthis Lease, recovering possession and reletting the same, which differences shall accrue and be payable monthlywhether or not suit is filed.

Appears in 1 contract

Sources: Lease Agreement

Default. If 8.1 Each of the following shall constitute an event of default is made in the payment (ìEvent of any installment of rent on the due date thereof, or if Defaultî) hereunder: (a) Lessee shall default fail to make any payment to Lessor when due hereunder; (b) any representation or warranty of Lessee contained herein or in the performance of any document furnished to Lessor in connection herewith shall be incorrect or misleading when made; (c) Lessee shall fail to observe or perform any other covenant, agreement (other than payment of rent) in this Lease or warranty made by Lessee hereunder and such default (other than payment of rent), continues failure shall continue for ten days after written notice thereofthereof to Lessee; (d) any default shall occur under any other agreement between Lessee and Lessor; (e) Lessee shall cease to do business, become insolvent, make an assignment for the benefit of creditors or file any petition or action under any bankruptcy, reorganization, insolvency or moratorium law, or if any other law or laws for the Premises relief of, or relating to, debtors; or (f) any involuntary petition shall be vacated filed under any bankruptcy statute against Lessee, or abandonedany receiver, then trustee, custodian or similar official shall be appointed to take possession of the properties of Lessee, unless such petition or appointment ceases to be in effect within thirty days of said filing or appointment. 8.2 If any such event Event of Default shall occur, Lessor, at its option, may (a) proceed by appropriate court action or actions either at law or in equity to enforce performance by Lessee of the applicable covenants of this Lease or to recover damages for the breach thereof; or (b) by notice in writing to Lessee terminate this Lease, whereupon all rights of Lessee to use the Units shall terminate, at the option of the Lessor, and Lessor may re-enter the Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by the Lessor that the but Lessee shall remain liable as hereinafter provided; and thereupon Lessor may require Lessee to return the Units pursuant to Section 9 hereof or Lessor may, without notice, liability or legal process, enter upon the premises where any of the Units may be and take possession thereof and thenceforth hold the same free from any right of Lessee, its successors or assigns; but Lessor shall, nevertheless, have a right to recover from Lessee (whether or not Lessor takes possession of the Units) any and all amounts which under the terms of this Lease may be then due or which may have accrued to the date of such termination and also to recover forthwith from Lessee (i) as damages for loss of the bargain and not as a sum penalty, a sum, with respect to each Unit, equal to the entire rent payable to the end Casualty Value of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthly.Unit and

Appears in 1 contract

Sources: Master Tax Lease

Default. A. If default is made in the payment of any installment of Tenant shall fail to pay rent on the due date thereof, or if Lessee shall default in the performance of any other agreement (other than payment of rent) in this Lease sum payable to Landlord hereunder when due, and such default shall continue for five (other than payment of rent), continues for ten 5) days after written notice thereofthereof by Landlord, or if Tenant shall fail to perform or observe any of the Premises be vacated other covenants, terms or abandonedconditions contained in this Lease within fifteen (15) business days (or such longer period as is reasonably required to correct any such default, then provided Tenant promptly commences and diligently continues to effectuate a cure (but in any such event this Lease shall terminatewithin thirty (30) business days) after written notice thereof by Landlord, at the option or if any of the Lessorevents specified in Section 13 occur, or if Tenant vacates or abandons the Demised Premises during the term hereof or removes or manifests an intention to remove any of Tenant’s goods or property therefrom other than in the ordinary and usual course of Tenant’s business and ceases to pay rent or, if Tenant shall fail to commence business in the Demised Premises upon the commencement of the term hereof, then, and Lessor in any of said cases (notwithstanding any prior breach of covenant or waiver thereof in a prior instance), Landlord, in addition to all other rights and remedies available to it by law or equity or by any other provisions hereof, may re-enter at any time thereafter: (i) upon three (3) days’ prior written notice to ▇▇▇▇▇▇, declare to be immediately due and payable, on account of the Premises rent and take possession thereof, with or without force or legal process and without notice or demand, other charges herein reserved for the service balance of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee from the Premises, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination term of this Lease and re-entry by the Lessor that the Lessee shall remain liable for (taken without regard to any early termination of said term on account of default), a sum equal to the Accelerated Rent Component (as hereinafter defined), and Tenant shall remain liable to Landlord as hereinafter provided; and/or (ii) whether or not Landlord has elected to recover the Accelerated Rent Component, terminate this Lease on at least five (5) days’ prior written notice to Tenant and, on the date specified in said notice, this Lease and the term hereby demised and all rights of Tenant hereunder shall expire and terminate and Tenant shall thereupon quit and surrender possession of the Demised Premises to Landlord in the condition elsewhere herein required and Tenant shall remain liable to Landlord as hereinafter provided. B. For purposes hereof, the Accelerated Rent Component shall mean the aggregate of: (1). all rent and other charges, payments, costs and expenses due from Tenant to Landlord and in arrears at the time of the election of Landlord to recover the Accelerated Rent Component; (2). the minimum rent reserved for the then entire rent payable unexpired balance of the term of this Lease (taken without regard to any early termination of the term by virtue of any default), plus all other charges, payments, costs and expenses herein agreed to be paid by Tenant up to the end of said term which shall be capable of precise determination at the Term time of Landlord’s election to recover the Accelerated Rent Components less any rent reduction to be provided in accordance with sections D(1) and (2) below; and (3). ▇▇▇▇▇▇▇▇’s good faith estimate of all charges, payments, costs and expenses herein agreed to be paid by Tenant up to the end of said term which shall not be capable of precise determination as aforesaid (and for such purposes no estimate of any component of additional rent to accrue pursuant to the provisions of Article 4 hereof shall be less than the amount which would be due if each such component continued at the highest monthly rate or amount in effect during the twelve (12) months immediately preceding the default). C. In any case in which this Lease shall have been terminated, or in any case in which Landlord shall have elected to recover the Accelerated Rent Component and any portion of such sum shall pay any loss remain unpaid, Landlord may, without further notice, enter upon and repossess the Demised Premises, by an action for ejectment or deficiency sustained by otherwise to dispossess Tenant and remove Tenant and all other persons and property from the Lessor on account of Demised Premises and may have, hold and enjoy the Demised Premises being let for and the remainder of the original term for a less sum than beforerents and profits therefrom. LessorLandlord, may, in its own name, as agent for LesseeTenant, without notice may re-let if this Lease has not been terminated, or in its own behalf, if this Lease has been terminated, relet the Leased Demised Premises or any part thereof for such term or terms (which may be greater or less than the remainder period which would otherwise have constituted the balance of the Term term of this Lease) and on such terms (which may include concessions or free rent) as Landlord in its sole discretion may determine. Landlord may, in connection with any such reletting, cause the Demised Premises to be redecorated, altered, divided, consolidated with other space or otherwise changed or prepared for reletting. No reletting shall be deemed a surrender and acceptance of the Demised Premises. In accordance with Section 505.1 (b) of the Pennsylvania Landlord and Tenant Act, as amended, Tenant shall have ten (10) days after Landlord has repossessed the Demised Premises to advise Landlord regarding ▇▇▇▇▇▇’s intent to remove any longer or shorter period as opportunity may offerpersonal property from the Demised Premises. If Tenant does not advise Landlord within such ten (10) day period, and Landlord may, at Landlord’s sole discretion, dispose of all such rental as may be obtained, and personal property. ▇. ▇▇▇▇▇▇ agrees shall, with respect to pay all periods of time up to and including the difference between sum expiration of the term of this Lease (or what would have been the expiration date in the absence of default or breach) remain liable to Landlord as follows: (1) In the event of termination of this Lease on account of Tenant’s default or breach, Tenant shall remain liable to Landlord for damages equal to the amount rent and other charges payable under this Lease by Tenant as if this Lease were still in effect, less the net proceeds of rent payable during the residue of the Term and net rent received by the Lessor during the Term any reletting after deducting all costs incident thereto (including without limitation all repossession costs, brokerage and management commissions, operating and legal expenses and fees, alteration costs and expenses of every kind preparation for repairsreletting) and to the extent such damages shall not have been recovered by Landlord by virtue of payment by Tenant of the Accelerated Rent Component (but without prejudice to the right of Landlord to demand and receive the Accelerated Rent Component), recovering possession and reletting the same, which differences such damages shall accrue and be payable monthlyto Landlord monthly upon presentation to Tenant of a bill for the amount due.

Appears in 1 contract

Sources: Office Lease (Alteva, Inc.)

Default. If It is further agreed that if any rent payment or any part thereof, or any other payment of money due hereunder from Lessee, shall at any time be in arrears and unpaid for a period of fifteen (15) days after written notice given, and if said Lessee shall fail to keep and perform any of the covenants, or conditions of this Lease on its part to be kept or performed, or if said Lessee shall abandon or vacate the Demised Premises for more than thirty (30) days during the term hereof or shall make an assignment for the benefit of creditors or if the interest of the Lessee in the Demised Premises shall be sold under execution or other legal process, or if the Lessee shall be adjudged a bankrupt or if a receiver or trustee shall be appointed for the Lessee by any court, the Lessor may at Lessor’s election at any time thereafter while such condition exists, and if such default is made in the payment of any installment of Lease rent on the due date thereofand same is not paid within said fifteen (15) day period, or if Lessee shall default in the performance of any other agreement (other than payment of rent) in this Lease and such default is in some other condition herein named, and same is not remedied within a thirty (other than payment of rent), continues for ten days 30) day period after written notice thereof, or if the Premises be vacated or abandonednotice, then in any such event this Lease shall terminate, at the option of the Lessor, and Lessor may lawfully re-enter the Demised Premises or any part thereof and take possession thereofrepossess the same as of the former estate of the Lessor and expel the Lessee and those claiming under and through it and remove all persons and effects therefrom (forcibly if necessary), with or without force or legal process being deemed guilty of any manner of trespass and without notice prejudice to any remedy which might otherwise be used for arrears of rent or demand, the service other breach of notice, demand or legal process being hereby expressly waivedcovenant, and upon such entry, entry as aforesaid, the rights of the Lessee under this Lease shall terminate and the Lessor may exclude Lessee from the Premisescovenants that in case of such termination, changing the lock on the door or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry by will indemnify the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end against all loss of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let for the remainder of the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offer, and at such rental as may be obtained, and ▇▇▇▇▇▇ agrees to pay the difference between sum equal to the amount of rent payable during the residue of the Term and net rent received by the Lessor during the Term after deducting all expenses of every kind for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlyrent.

Appears in 1 contract

Sources: Lease Agreement (Emdeon Inc.)

Default. It is hereby further expressly agreed and declared as follows :- 8.1 If default is made and whenever any part of the rent hereby reserved or any other payments payable by the Tenant hereunder shall be in arrears for fifteen (15) days (whether the payment same shall have been formally demanded or not) or if and whenever there shall be a breach of any installment of rent on the due date thereof, or if Lessee shall default in agreements by the performance of any other agreement (other than payment of rent) in this Lease and such default (other than payment of rent), continues for ten days after written notice thereof, Tenant hereinbefore contained or if the Premises Tenant (being an individual or sole proprietor or partnership) shall commit any act of bankruptcy or shall have its Business Registration cancelled or (being a corporation) shall go into liquidation (either voluntary or otherwise) or shall have any order made or resolution passed for winding up or if the Tenant shall become insolvent or enter into any composition or arrangements with the creditors or shall suffer execution to be vacated levied upon any of his goods or abandonedeffects the Landlord shall upon the happening of any such event be entitled to re-enter upon the said premises or any part thereof in the name of the whole and thereupon this Agreement shall absolutely cease and determine but without prejudice to any rights which may have accrued to the Landlord by reason of any antecedent breach of any of the obligations on the part of the Tenant hereinbefore contained AND the deposit paid hereunder shall be forfeited to the Landlord as and for liquidated damages and not as penalty but without prejudice to the Landlord’s right to claim any further damages which the Landlord shall have sustained or may sustain AND a written notice served by the Landlord on the Tenant or left at the said premises to the effect that the Landlord thereby exercises the power of re-entry shall be a full and sufficient exercise of such power without actual entry on the part of the Landlord. Notwithstanding the foregoing, then the Landlord may in any such event at its option elect not to terminate this Lease shall terminate, at Agreement but to deduct from the option deposit the amount of any monetary loss incurred by the Landlord in consequence of the Lessorbreach, and Lessor may non-observance or non-performance by the Tenant in which event the Tenant shall, as a condition precedent to the continuation of this Agreement deposit with the Landlord the amount so deducted and, if the Tenant shall fail so to do, the Landlord shall forthwith be entitled to re-enter on the Premises said premises and take possession thereof, with or without force or legal process to determine this Agreement in which event the deposit may be forfeited to the Landlord as hereinbefore provided. 8.2 Notwithstanding anything hereinbefore contained in the event of default in payment of rent and without notice or demandother charges payable by the Tenant hereunder for a period of ten days from the date on which the same falls due for payment, the service Tenant shall further pay to the Landlord on demand interest on the amount in arrears at the monthly rate of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the Lessor may exclude Lessee 2% calculated from the Premises, changing date on which the lock on same becomes due for payment as stipulated hereunder (not ten days thereafter) until the door date of payment as liquidated damages and not as penalty provided that the demand and/or receipt by the Landlord of interest pursuant to this sub-clause shall be without prejudice to and shall not affect the right of the Landlord to exercise any other right or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and remedy hereof (including the Lessee expressly agrees, notwithstanding termination right of re-entry) exercisable under the terms of this Lease Agreement. The Tenant shall further pay to the Landlord any solicitors’ and/or Counsel’s fee (all on a solicitor and re-entry own client basis) and court fees incurred by the Lessor that the Lessee shall remain liable for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss or deficiency sustained by the Lessor on account of the Premises being let Landlord for the remainder purpose of recovering the original term for a less sum than before. Lessor, as agent for Lessee, without notice may re-let the Leased Premises rent and all other charges in arrears and/or other money or any part thereof for thereof. 8.3 Acceptance of rent by the remainder Landlord shall not be deemed to operate as a waiver by the Landlord of any right to proceed against the Tenant in respect of any breach, non-observance or non-performance by the Tenant of any of the Term agreements, stipulations and conditions herein contained and on the Tenant’s part to be observed and performed. 8.4 For the purpose of these presents any act, default, neglect or omission of any servant, agent or licensee (as hereinbefore defined) of the Tenant shall be deemed to be the act, default, neglect or omission of the Tenant. 8.5 For the purposes of distress for any longer or shorter period as opportunity may offerrent in terms of Part 3 of the Landlord and Tenant (Consolidation) Ordinance (Chapter 7) and of these presents, the term rent in respect of the said premises shall include the management fee and at such rental as may be obtained, Government Rates and ▇▇▇▇▇▇ agrees to pay that the difference between sum equal to the amount of rent payable during the residue in respect of the Term said premises shall be deemed to be in arrears if not paid in advance at the time and net rent received by the Lessor during the Term after deducting all expenses of every kind in manner hereinbefore provided for repairs, recovering possession and reletting the same, which differences shall accrue and be payable monthlypayment thereof.

Appears in 1 contract

Sources: Tenancy Agreement (SU Group Holdings LTD)

Default. If default SECTION 1. It is made covenanted and agreed that if Tenant shall be in arrears more than ten (10) days in the payment of any installment of rent on the due date thereofrent, or if Lessee Tenant shall be in default in the performance or keeping of any of the other agreement (other than payment of rent) covenants, agreements or conditions contained in this Lease lease, on Tenant's part to be performed and kept, for a period of ten (10) days after notice of such default (other than payment shall have been given to Tenant, then and in any of rent)said events, continues for ten days after written notice thereofLandlord lawfully may, at Landlord's option, immediately, or if the Premises be vacated or abandoned, then in at any time thereafter while such event this Lease shall terminate, at the option of the Lessordefault continues, and Lessor may re-without any further demand or notice, terminate this lease and enter upon the Premises and take possession thereofpremises, either with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waivedlaw, and upon repossess the same and expel therefrom and remove the SECTION 2. It is further covenanted and agreed that in the event of any such entrytermination or reentry, as aforesaidby summary proceedings or otherwise, this Lease shall terminate rents and all other charges required to be paid up to the Lessor may exclude Lessee from the Premises, changing the lock on the door time of such termination or doors if deemed necessary, if applicable, without being liable to Lessee for any damages or for prosecution therefor; Lessor’s rights in such event may be enforced by action in unlawful detainer or other proper legal action, and the Lessee expressly agrees, notwithstanding termination of this Lease and re-entry shall be paid by Tenant, and Tenant shall also pay to Landlord all expenses which Landlord may incur for restoring the Lessor that premises to the Lessee shall remain liable same condition in which by Section 1 of Article XVIII they are required to be surrendered, and such further expenses which Landlord may reasonably incur in preparing the premises for reletting, but not including the expenses of any alterations. Landlord may, at any time thereafter and from time to time, relet the premises, in whole or in part, for such rental as may then be obtainable, either in Landlord's own name or as agent for Tenant, for a sum equal to the entire rent payable to the end of the Term hereof and shall pay any loss term or deficiency sustained by the Lessor on account of the Premises being let terms which, at Landlord's option, may be for the remainder of the original then current term for a less sum than before. Lessorof this lease, as agent for Lessee, without notice may re-let the Leased Premises or any part thereof for the remainder of the Term or for any longer or shorter period as opportunity may offerperiod. SECTION 3. If this lease be so terminated, Tenant nevertheless covenants and at such rental as may be obtainedagrees, and ▇▇▇▇▇▇ agrees notwithstanding any termination or re-entry by Landlord, whether by summary proceedings or otherwise, to pay and be liable for, on the difference between sum days originally fixed herein for payment thereof, amounts equal to the several installments of rent and other charges reserved as they would, under the terms of this lease, become due if this lease had not been terminated, or if Landlord had not re-entered, and whether the premises be relet or remain vacant, in whole or in part, or for a period less than the remainder of the term, or for the whole thereof; but, in the event the premises be relet by Landlord, Tenant shall be entitled to a credit in the net amount of rent payable during received by Landlord in reletting after deduction of all expenses and costs incurred or paid in reletting the residue premises and collecting the rent in connection therewith. As an alternative, at the election of Landlord, Tenant will upon such termination pay to Landlord, as damages, such a sum as at the time of such termination represents the amount of the Term excess, if any, of the value of the total rent and net other benefits which would have accrued to Landlord under this lease for the remainder of the lease term if the lease provisions had been fully complied with by Tenant, over and above the rental value of the premises for the balance of the term, both discounted to the then value. For the purposes of this provision, it shall be deemed that the percentage rent received for any period after any such default and entry by Landlord would have been at a monthly rate thereafter equal to the Lessor during average monthly percentage rental which Tenant was obligated to pay to Landlord under this lease in respect to the Term last five (5) full lease years immediately preceding the date of such entry, or such lesser period of the term hereof as may have then elapsed. SECTION 4. Landlord is hereby given a first lien upon all property of Tenant which shall come in or be placed upon the premises and whether acquired by Tenant before or after deducting all expenses the date hereof to secure the payment of rent and the performance of each and every kind for repairsother covenant herein contained to be performed by Tenant. Upon such default, recovering and failure to cure as aforesaid, Landlord without notice or demand may take possession of and reletting the samesell such property without legal process of any kind, which differences shall accrue and be payable monthly.at public or private sale after one publication of a notice thereof in a daily newspaper published in Portland, Oregon, not less than ten (10) days

Appears in 1 contract

Sources: Lease Agreement (Gi Joes Inc)