INDUCEMENT RECAPTURE IN EVENT OF BREACH. Any agreement by Lessor for free or abated rent or other charges applicable to the Premises, or for the giving or paying by Lessor to or for Lessee of any cash or other bonus, inducement or consideration for Lessee's entering into this Lease, all of which concessions are hereinafter referred to as "Inducement Provisions," shall be deemed conditioned upon Lessee's full and faithful performance of all of the terms, covenants and conditions of this Lease to be performed or observed by Lessee during the term hereof as the same may be extended. Upon the occurrence of a Breach of this Lease by Lessee, as defined in Paragraph 13. 1. In the event that Lessee does not complete the initial improvements for a particular building and is in material default of this Lease beyond any period provided for cure, Lessor shall have the right, in addition to any other damages provided for herein, to seek damages in the amount of base rent for any abated period of abated rent applicable to the building containing incomplete initial improvements.
Appears in 2 contracts
Sources: Lease Agreement (Idealab), Lease Agreement (Idealab)