Common use of Lessor's Remedies on Default Clause in Contracts

Lessor's Remedies on Default. If Tenant defaults in the payment of rent, or any additional rent, or defaults in the performance of any of the other covenants or conditions hereof, Lessor may give Tenant notice of such default and if Tenant does not cure any such default within (this shall be fifteen, if no other number is filled in) days, after the giving of such notice (or if such other default is of such nature that it cannot be completely cured within such period, if Tenant does not commence such curing within such (this shall be fifteen, if no other number is filled in) days and thereafter proceed with reasonable diligence and good faith to cure such default), then Lessor may terminate this Lease and all rights of Lessee under this Lease by such written notice. If it so terminates on the date specified in such notice the term of this Lease shall terminate, and Tenant shall then quit and surrender the Real Property to Lessor, but Tenant shall remain liable as hereinafter provided. If this Lease shall have been so terminated by Lessor, Lessor may at any time thereafter resume possession of the Real Property by any lawful means and remove Tenant or other occupants and their effects. No failure to enforce any term shall be deemed a waiver. No act of Lessor shall be construed as terminating this Lease except written notice given by Lessor to Tenant advising Tenant that Lessor elects to terminate the Lease. In the event Lessor elects to terminate this Lease, Lessor may recover from Tenant: (a) The worth at the time of award of any unpaid rent that had been earned at the time of termination of the Lease; (b) The worth at the time of award of the amount by which the unpaid rent that would have been earned after termination of the Lease until the time of award exceeds the amount of rental loss that Tenant proves could have been reasonably avoided; (c) The worth at the time of award of the amount by which the unpaid rent for the balance of the term of this lease after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided; and (d) Any other amount necessary to compensate Lessor for all detrimental proximately caused by Tenant’s failure to perform its obligations under this Lease.

Appears in 6 contracts

Sources: Commercial Lease, Commercial Lease, Commercial Lease

Lessor's Remedies on Default. If Tenant defaults in the payment of rent, or any additional rent, or defaults in the performance of any of the other covenants or conditions hereof, Lessor may give Tenant notice of such default and if Tenant does not cure any such default within 30 Days (this shall be fifteen, if no other number is filled in) days, after the giving of such notice (or if such other default is of such nature that it cannot be completely cured within such period, if Tenant does not commence such curing within such 30 Days (this shall be fifteen, if no other number is filled in) days and thereafter proceed with reasonable diligence and good faith to cure such default), then Lessor may terminate this Lease and all rights of Lessee under this Lease by such written notice. If it so terminates on the date specified in such notice the term of this Lease shall terminate, and Tenant shall then quit and surrender the Real Property to Lessor, but Tenant shall remain liable as hereinafter provided. If this Lease shall have been so terminated by Lessor, Lessor may at any time thereafter resume possession of the Real Property by any lawful means and remove Tenant or other occupants and their effects. No failure to enforce any term shall be deemed a waiver. No act of Lessor shall be construed as terminating this Lease except written notice given by Lessor to Tenant advising Tenant that Lessor elects to terminate the Lease. In the event Lessor elects to terminate this Lease, Lessor may recover from Tenant: (a) The worth at the time of award of any unpaid rent that had been earned at the time of termination of the Lease; (b) The worth at the time of award of the amount by which the unpaid rent that would have been earned after termination of the Lease until the time of award exceeds the amount of rental loss that Tenant proves could have been reasonably avoided; (c) The worth at the time of award of the amount by which the unpaid rent for the balance of the term of this lease after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided; and (d) Any other amount necessary to compensate Lessor for all detrimental proximately caused by Tenant’s 's failure to perform its obligations under this Lease.

Appears in 2 contracts

Sources: Lease Agreement, Lease Agreement (Zero Gravity Solutions, Inc.)

Lessor's Remedies on Default. If Tenant Lessee defaults in the payment of rentFixed Basic Rent or Additional Rent, or any additional rent, or if Lessee defaults in the performance of any of the other terms, covenants and conditions here of this Lease or conditions hereofif Lessee permits the Premises to become deserted, abandoned or vacated, Lessor may give Tenant Lessee notice of such default and if Tenant default. If Lessee does not cure any such Fixed Basic Rent or Additional Rent default within five (this shall be fifteen, if no 5) days after Lessee’s receipt of notice from Lessor or other number is filled indefault within twenty (20) days, days after the giving of such notice (or if such other default is of such nature that it cannot be completely cured within such period, if Tenant Lessee does not promptly commence such curing within such twenty (this shall be fifteen, if no other number is filled in20) days and thereafter proceed with reasonable diligence and in good faith to cure such default), then Lessor may at any time thereafter either (i) deliver written notice to Lessee stating that Lessee's right to possession of the Premises shall expire and come to an end on the date fixed in such notice, which date shall be not less than ten (10) days after the date of said notice, and on the date fixed in said notice, this Lease and Lessee's right to possession of the Premises shall expire and come to an end as if such date were the date originally fixed in this Lease as the Expiration Date, and Lessee shall immediately quit and surrender the Premises to Lessor, it being the intent of the parties that this clause creates a conditional limitation, or (ii) terminate this Lease on not less than ten (10) days notice to Lessee, and all rights of Lessee under this Lease by such written notice. If it so terminates on the date specified in such notice said notice, Lessee’s right to possession of the term of this Lease Premises shall terminate, and Tenant shall then quit and surrender the Real Property to Lessor, cease but Tenant Lessee shall remain liable as hereinafter provided. If this Lease shall have been so terminated by LessorLessor pursuant to Articles 12 or 13 hereof, Lessor may at any time thereafter resume possession of the Real Property Premises by any lawful means and remove Tenant Lessee or other occupants and their effects. No failure Lessee shall pay to enforce any term shall be deemed a waiver. No act of Lessor shall be construed Lessor, on demand, such reasonable expenses as terminating this Lease except written notice given by Lessor to Tenant advising Tenant that Lessor elects to terminate the Lease. In the event Lessor elects to terminate this Lease, Lessor may recover from Tenant: (a) The worth at incur, including, without limitation, court costs and reasonable attorney’s fees and disbursements, in enforcing the time of award performance of any unpaid rent that had been earned at the time obligation of termination of the Lease; (b) The worth at the time of award of the amount by which the unpaid rent that would have been earned after termination of the Lease until the time of award exceeds the amount of rental loss that Tenant proves could have been reasonably avoided; (c) The worth at the time of award of the amount by which the unpaid rent for the balance of the term of this lease after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided; and (d) Any other amount necessary to compensate Lessor for all detrimental proximately caused by Tenant’s failure to perform its obligations Lessee under this Lease.

Appears in 2 contracts

Sources: Lease Agreement (Nexus Biopharma Inc), Lease Agreement (Fluoropharma Medical, Inc.)

Lessor's Remedies on Default. If Tenant Lessee defaults in the payment of rentFixed Basic Rent, or any additional rentAdditional Rent, or defaults in the performance of any of the other covenants and conditions hereof or conditions hereofpermits the Premises to become deserted, abandoned or vacated, Lessor may give Tenant Lessee notice of such default default, and if Tenant Lessee does not cure any such Fixed Basic Rent or Additional Rent default within ten (this shall be fifteen, if no 10) days or other number is filled indefault within thirty (30) days, days after the giving of such notice (or if such other default is of such nature that it cannot be completely cured within such period, if Tenant Lessee does not commence such curing within such thirty (this shall be fifteen, if no other number is filled in30) days day period and thereafter proceed with reasonable diligence and in good faith to cure such default), then Lessor may terminate this Lease on not less than ten (10) days notice to Lessee, and all rights of Lessee under this Lease by such written notice. If it so terminates on the date specified in such notice said notice, Lessee's right to possession of the term of this Lease Premises shall terminate, and Tenant shall then quit and surrender the Real Property to Lessor, cease but Tenant Lessee shall remain liable as hereinafter provided. If this Lease shall have been so terminated by LessorLessor pursuant to Articles 12 or 13 hereof, Lessor may at any time thereafter resume possession of the Real Property Premises by any lawful means and remove Tenant Lessee or other occupants and their effects. No failure The unsuccessful party shall pay tothe prevailing party, on demand, such expenses asthe prevailing party may incur, including, without limitation, court costs and reasonable attorney's fees and disbursements, in any proceeding relating to enforce any term this Lease. Notwithstanding the foregoing, Lessee's vacating of the Premises shall not be deemed a waiver. No act of Lessor shall be construed as terminating this Lease except written notice given by Lessor to Tenant advising Tenant that Lessor elects to terminate the Lease. In the event Lessor elects to terminate default under this Lease, Lessor may recover from Tenant: (a) The worth provided that at the time of award of any unpaid rent that had been earned at the time of termination such vacating of the Lease; (b) The worth at the time of award Premises, Lessee shall deliver to Lessor a certification of the amount by which Chief Executive Officer or Chief Financial Officer of Lessee certifying that Lessee has the unpaid rent that would have been earned after termination of the Lease until the time of award exceeds the amount of rental loss that Tenant proves could have been reasonably avoided; (c) The worth at the time of award of the amount by which the unpaid rent for the balance of the term of this lease after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided; and (d) Any other amount necessary ability to compensate Lessor for all detrimental proximately caused by Tenant’s failure to perform meet its financial obligations under this Lease.

Appears in 2 contracts

Sources: Lease (Medicines Co /De), Lease (Medicines Co /De)

Lessor's Remedies on Default. If Tenant defaults in the payment of rent, or any additional rent, or defaults in the performance of any of the other covenants or conditions hereof, Lessor may give Tenant notice of such default and if Tenant does not cure any such default within 30 days (this shall be fifteen, if no other number is filled in) days, after the giving of such notice (or if such other default is of such nature that it cannot be completely cured within such period, if Tenant does not commence such curing within such 30 days (this shall be fifteen, if no other number is filled in) days and thereafter proceed with reasonable diligence and good faith to cure such default), then Lessor may terminate this Lease and all rights of Lessee under this Lease by such written notice. If it so terminates on the date specified in such notice the term of this Lease shall terminate, and Tenant shall then quit and surrender the Real Property to Lessor, but Tenant shall remain liable as hereinafter provided. If this Lease shall have been so terminated by Lessor, Lessor may at any time thereafter resume possession of the Real Property by any lawful means and remove Tenant or other occupants and their effects. No failure to enforce any term shall be deemed a waiver. No act of Lessor shall be construed as terminating this Lease except written notice given by Lessor to Tenant advising Tenant that Lessor elects to terminate the Lease. In the event Lessor elects to terminate this Lease, Lessor may recover from Tenant: (a) The worth at the time of award of any unpaid rent that had been earned at the time of termination of the Lease; (b) The worth at the time of award of the amount by which the unpaid rent that would have been earned after termination of the Lease until the time of award exceeds the amount of rental loss that Tenant proves could have been reasonably avoided; (c) The worth at the time of award of the amount by which the unpaid rent for the balance of the term of this lease after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided; and (d) Any other amount necessary to compensate Lessor for all detrimental proximately caused by Tenant’s failure to perform its obligations under this Lease.

Appears in 2 contracts

Sources: Lease Agreement, Lease Agreement (Zero Gravity Solutions, Inc.)

Lessor's Remedies on Default. If Tenant defaults in the payment of rent, or any additional rent, or defaults in the performance of any of the other covenants or conditions hereof, Lessor may give Tenant notice of such default and if Tenant does not cure any such default within 30 days (this shall be fifteen, if no other number is filled in) days, after the giving of such notice (or if such other default is of such nature that it cannot be completely cured within such period, if Tenant does not commence such curing within such 30 days (this shall be fifteen, if no other number is filled in) days and thereafter proceed with reasonable diligence and good faith to cure such default), then Lessor may terminate this Lease and all rights of Lessee ofLessee under this Lease by such written notice. If it so terminates on the date specified in such notice the term of this Lease shall terminate, and Tenant shall then quit and surrender the Real Property to Lessor, but Tenant shall remain liable as hereinafter provided. If this Lease shall have been so terminated by Lessor, Lessor may at any time thereafter resume possession of the Real Property by any lawful means and remove Tenant or other occupants and their effects. No failure to enforce any term shall be deemed a waiver. No act of Lessor shall be construed as terminating this Lease except written notice given by Lessor to Tenant advising Tenant that Lessor elects to terminate the LeaseI ease. In the event Lessor elects to terminate this Lease, Lessor may recover from Tenant: (a) The worth at the time of award of any unpaid rent that had been earned at the time of termination of the Lease; (b) The worth at the time of award of the amount by which the unpaid rent that would have been earned after termination of the Lease until the time of award exceeds the amount of rental loss that Tenant proves could have been reasonably avoided; (c) The worth at the time of award of the amount by which the unpaid rent for the balance of the ofthe term of this lease after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided; and (d) Any other amount necessary to compensate Lessor for all detrimental proximately caused by Tenant’s 's failure to perform its obligations under this Lease.

Appears in 1 contract

Sources: Commercial Lease (Zero Gravity Solutions, Inc.)

Lessor's Remedies on Default. 15.1 If Tenant the Lessee defaults in the payment of rent, or any additional rent, or defaults in the performance of any of the other covenants or conditions hereofof this Agreement, the Lessor may give Tenant the Lessee notice of such default and if Tenant the Lessee does not cure any such default within three (this shall be fifteen, if no other number is filled in3) business days, after the giving of such notice (or if such other default is of such a nature that it cannot be completely cured within such period, if Tenant the Lessee does not commence such curing within such three (this shall be fifteen, if no other number is filled in3) business days and thereafter proceed with reasonable diligence and in good faith to cure such default), then the Lessor may terminate this Lease and all rights of Lessee under this Lease by such written noticelease on not less than thirty (30) calendar days' notice to the Lessee. If it so terminates on On the date specified in such notice the term of this Lease lease shall terminate, and Tenant the Lessee shall then quit and surrender the Real Property Premises to the Lessor, but Tenant the Lessee shall remain liable as hereinafter providedprovided in this Agreement. If this Lease lease shall have been so terminated by the Lessor, the Lessor may at any time thereafter resume possession of the Real Property Premises by any lawful means and remove Tenant the Lessee or other occupants and their effects. No failure to enforce any term shall be deemed a waiver. No act . 15.2 The making by the Lessee of Lessor shall be construed as terminating any general assignment or general arrangement for the benefit of creditors; the filing by or against the Lessee of a petition to have the Lessee adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against the Lessee, same is dismissed within sixty (60) days; the appointment of a trustee or receiver to take possession of substantially all the Lessee's assets located at the Premises or of the Lessee's interest in this Lease except written notice given by Lessor lease, where possession is not restored to Tenant advising Tenant that Lessor elects to terminate the LeaseLessee within thirty (30) days; or the attachment, execution or other judicial seizure of substantially all of the Lessees assets located at the Premises or of the Lessee's interest in this lease, where such seizure is not discharged within thirty (30) days. In the event Lessor elects to terminate this Leaseof a judgement of bankruptcy against the lessee (Donavan Consulting Group, Lessor may recover from Tenant: (a) The worth at the time of award of any unpaid rent that had been earned at the time of termination Inc). Mr D▇▇▇▇▇ ▇arber and Mr Mark Van Pelt, ▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇nd se▇▇▇▇▇▇▇, will be responsible for completion of the Lease; (b) The worth at the time of award of the amount by which the unpaid rent that would have been earned after termination of the Lease until the time of award exceeds the amount of rental loss that Tenant proves could have been reasonably avoided; (c) The worth at the time of award of the amount by which the unpaid rent for the balance of the term terms of this lease after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided; and (d) Any other amount necessary to compensate Lessor for shall abide by all detrimental proximately caused by Tenant’s failure to perform its obligations under this Leaseclauses herein.

Appears in 1 contract

Sources: Commercial Lease (Manchester Equipment Co Inc)

Lessor's Remedies on Default. If Tenant Lessee defaults in the timely payment of rentBase Rent, Additional Rent, Service Fees or TPSA, or any additional rent, or if Lessee defaults in the performance of any of the other covenants or conditions hereof, Lessor may give Tenant Lessee written notice of such default and if Tenant Lessee does not cure any such default within ten (this shall be fifteen, if no other number is filled in10) days, days after the giving of such notice (notice, or if Lessor determines that such other default is constitutes an imminent danger to the property or safety of such nature that it cannot be completely cured others, within such period, if Tenant does not commence shorter period of time as Lessor shall designate in such curing within such (this shall be fifteen, if no other number is filled in) days and thereafter proceed with reasonable diligence and good faith to cure such default)written notice, then Lessor may immediately terminate this Lease and all rights of Lessee under this Lease by such written noticeLessee’s right to possession. If it so terminates on On the date specified in such notice notice, the term Term of this Lease shall terminate, and Tenant Lessee shall then quit and surrender the Real Property Premises to LessorLessor in the same condition as in existence on the Commencement Date, but Tenant Lessee shall remain liable for Base Rent, Additional Rent, Services Fees and TPSA as hereinafter provided. If this Lease shall have been so terminated by Lessor, Lessor may at any time thereafter resume possession of the Real Property Premises by any lawful means and remove Tenant Lessee or other occupants and their effects. No failure Lessor may, at its sole option, also remove any vessel(s) from the Premises and, at Lessee’s sole risk and expense, move the vessel(s) to enforce any term shall be deemed a waiverdifferent slip, mooring space, anchorage site or dry land storage. No act of Lessor shall be construed as terminating this Lease except written notice given by Lessor entitled to Tenant advising Tenant that Lessor elects to terminate the Lease. In the event Lessor elects to terminate this Lease, Lessor may recover from TenantLessee: (ai) The worth the amount at the time of award such termination of any the sum of unpaid rent that had been earned Base Rent, Additional Rent, Services Fees and TPSA which were due and payable by Lessee at the time of termination of the Leasetermination; plus (bii) The worth at the time of award of on a monthly basis thereafter, the amount by which the unpaid rent that Base Rent and Additional Rent payable by Lessee (or which would have been earned after termination of the Lease until the time of award exceeds the amount of rental loss that Tenant proves could have been reasonably avoided; (cpayable by Lessee) The worth at the time of award of the amount by which the unpaid rent for each month over the balance of the term of this lease after the time of award Term exceeds the amount amount, if any, of rental loss that Tenant proves could the Base Rent and Additional Rent actually collected by the Lessor from a substitute tenant each month over the balance of the Term. Lessor shall also be reasonably avoided; entitled to recover any reasonable costs or expenses incurred by Lessor in removing or relocating any vessel, repairing or preserving the Premises, the reasonable cost of recovering possession of the Premises, reasonable expenses of re-letting, Lessor’s reasonable attorneys’ fees incurred in connection therewith, and (d) Any other amount necessary any reasonable real estate commission paid to compensate Lessor for all detrimental proximately caused by Tenant’s failure an unrelated third party real estate brokerage firm upon re-letting the Premises with respect to perform its obligations under this Leasethe lease period until at the end of the Term.

Appears in 1 contract

Sources: Lease and Services Agreement

Lessor's Remedies on Default. If Tenant Lessee defaults in the timely payment of rentBase Rent or any Additional Rent, or any additional rent, or if Lessee defaults in the performance of any of the other covenants or conditions hereof, Lessor may give Tenant Lessee written notice of such default and if Tenant Lessee does not cure any such default within ten (this shall be fifteen, if no other number is filled in10) days, days after the giving of such notice in the case of a payment default, or thirty (30) days in the case of a non-monetary default (or if such other non-monetary default is of such nature that it cannot be completely cured within such thirty (30) day period, if Tenant Lessee does not commence such curing cure within such thirty (this shall be fifteen, if no other number is filled in30) days and thereafter proceed with reasonable diligence and in good faith to cure such default), then Lessor may immediately terminate this Lease and all rights of Lessee under this Lease by such written noticeLessee’s right to possession. If it so terminates on On the date specified in such notice notice, the term Term of this Lease shall terminate, and Tenant Lessee shall then quit and surrender the Real Property Premises to Lessor, but Tenant Lessee shall remain liable for Base Rent, Additional Rent and Service Fees as hereinafter provided. If this Lease shall have been so terminated by Lessor, Lessor may at any time thereafter resume possession of the Real Property Premises by any lawful means and remove Tenant Lessee or other occupants and their effects. No failure to enforce any term shall be deemed a waiver. No act of Lessor shall be construed as terminating this Lease except written notice given by Lessor entitled to Tenant advising Tenant that Lessor elects to terminate the Lease. In the event Lessor elects to terminate this Lease, Lessor may recover from TenantLessee: (ai) The worth the amount at the time of award such termination of any the sum of unpaid rent that had been earned Base Rent, Additional Rent and Service Fees which were due and payable by Lessee at the time of termination of the Leasetermination; plus (bii) The worth at the time of award of on a monthly basis thereafter, the amount by which the unpaid rent that Base Rent and Additional Rent payable by Lessee (or which would have been earned after termination of the Lease until the time of award exceeds the amount of rental loss that Tenant proves could have been reasonably avoided; (cpayable by Lessee) The worth at the time of award of the amount by which the unpaid rent for each month over the balance of the term of this lease after the time of award Term exceeds the amount amount, if any, of rental loss that Tenant proves could the Base Rent and Additional Rent actually collected by the Lessor from a substitute tenant each month over the balance of the Term. Lessor shall also be reasonably avoided; entitled to recover any reasonable costs or expenses incurred by Lessor in maintaining or preserving the Premises after such default, the reasonable cost of recovering possession of the Premises, reasonable expenses of re-letting, including necessary repairs of the Premises for which Lessee was responsible hereunder, Lessor’s reasonable attorneys’ fees incurred in connection therewith, and (d) Any other amount necessary any reasonable real estate commission paid to compensate Lessor for all detrimental proximately caused by Tenant’s failure an unrelated third party real estate brokerage firm upon re-letting the Premises with respect to perform its obligations under this Leasethe lease period until at the end of the Term.

Appears in 1 contract

Sources: Lease and Services Agreement

Lessor's Remedies on Default. If Tenant Lessee defaults in the payment of rent, or any additional rent, or defaults in the performance of any of the other covenants or conditions hereof, Lessor covenant's hereof the lessor may give Tenant lessee notice of such default and if Tenant If lessee does not cure any such default within (this shall be fifteen, if no other number is filled in) seven days, after the giving of such notice (or if such other default is of such nature that it cannot be completely cured within such period, if Tenant lessee does not commence such curing within such (this shall be fifteen, if no other number is filled in) seven days and thereafter proceed with reasonable diligence and in good faith to cure such default), the default then Lessor the lessor may terminate this Lease and all rights of Lessee under this Lease by such written notice. If it so terminates lease on not less than seven days notice to the lessee.On the date specified in such notice the term of this Lease lease shall terminate, terminate and Tenant then the lessee shall then quit and surrender the Real Property premises to Lessor, lessor but Tenant the lessee shall remain liable as hereinafter provided. If this Lease this Iease shall have been so terminated by Lessor, Lessor lessor,lessor may at any time thereafter resume possession of the Real Property premises by any lawful means and remove Tenant lessee or other occupants and their effects. No , no failure to enforce any term shall be deemed a waiverdeemed. No act SECURITY DEPOSIT, lessee shall deposit with lessor on signing of Lessor shall be construed as terminating this Lease except written notice given by Lessor to Tenant advising Tenant that Lessor elects to terminate lease the Lease. In sum of $750.00 dollars for the event Lessor elects to terminate performance lessee's obligations under this Leaselease including without limitation, Lessor may recover from Tenant: (a) The worth at the time surrender of award of any unpaid rent that had been earned at the time of termination possession of the Lease; (b) The worth at the time of award premises to lessor as herein provided, If lessor applies any part of the amount by which the unpaid rent that would have been earned after termination deposit to cure any default of the Lease until the time of award exceeds lessee, lessor shall on demand deposit with Lessor the amount of rental loss so applied, so that Tenant proves could lessor shall have been reasonably avoided; (c) The worth the full deposit on hand at the time of award of the amount by which the unpaid rent for the balance of all times the term of this lease after At the time signature of award exceeds this present Lease agreement by both parties the tenant will also pay the first and the last months rent together with the rent deposit for a total of three months rent. In the event there is any tax increase during the term of this lease in the City or County or estate taxes over and above the amount of rental loss such taxes assessed the tax year during which the term of this lease commences whether because of increased rate or valuation lessee upon presentation of paid tax bills an amount equal 50% of the increase in taxes upon the land and building in which the leased premises are situated In the event that Tenant proves could taxes are accessed for a tax year extending beyond the term of this lease the oblIgation of Lessee shall be reasonably avoided; proportionate portion Of the lease term included in such year COMMON AREA EXPENSES In the event the demised premises are situated in a shopping center or in a commercial building in which there are common areas, Lessee agrees to pay his pro-rated share maintainance taxes and (d) Any other amount necessary to compensate Lessor insurance for all detrimental proximately caused by Tenant’s failure to perform its obligations under this Leasethe common area.

Appears in 1 contract

Sources: Commercial Lease (Invicta Group Inc)

Lessor's Remedies on Default. If Tenant Lessee defaults in the payment of rentFixed Basic Rent, or any additional rentAdditional Rent, or defaults in the performance of any of the other covenants and conditions hereof or conditions hereofpermits the Premises to become deserted, abandoned or vacated, Lessor may give Tenant Lessee notice of such default default, and if Tenant Lessee does not cure any such Fixed Basic Rent or Additional Rent default within ten (this shall be fifteen, if no 10) days or other number is filled indefault within twenty (20) days, days after the giving of such notice (or if such other default is of such nature that it cannot be completely cured within such period, if Tenant Lessee does not commence such curing within such twenty (this shall be fifteen, if no other number is filled in20) days and thereafter proceed with reasonable diligence and in good faith to cure such default), then Lessor may terminate this Lease on not less than ten (10) days notice to Lessee, and all rights of Lessee under this Lease by such written notice. If it so terminates on the date specified in such notice said notice, Lessee's right to possession of the term of this Lease Premises shall terminate, and Tenant shall then quit and surrender the Real Property to Lessor, cease but Tenant Lessee shall remain liable as hereinafter provided. If this Lease shall have been so terminated by LessorLessor pursuant to Articles 12 or 13 hereof, Lessor may at any time thereafter resume possession of the Real Property Premises by any lawful means and remove Tenant Lessee or other occupants and their effects. No failure Lessee shall pay to enforce Lessor, within thirty (30) days after demand, such actual out-of-pocket reasonable expenses as Lessor may incur, including, without limitation, court costs and reasonable attorney's fees and disbursements, in enforcing the performance of any term obligation of Lessee under this Lease. Notwithstanding anything contained herein, Lessee's vacating, deserting or abandoning of the Premises shall not be deemed a waiver. No act default of Lessor shall be construed as terminating this Lease except written notice given by Lessor to Tenant advising Tenant that Lessor elects to terminate the Lease. In the event Lessor elects to terminate this Lease, if Lessee submits to Lessor may recover from Tenant: (a) The worth at then current financial statements, certified by Lessee's chief financial officer or an independent certified public accountant, evidencing to Lessor's reasonable satisfaction, that Lessee has the time of award of any unpaid rent that had been earned at the time of termination of the Lease; (b) The worth at the time of award of the amount by which the unpaid rent that would have been earned after termination of the Lease until the time of award exceeds the amount of rental loss that Tenant proves could have been reasonably avoided; (c) The worth at the time of award of the amount by which the unpaid rent for the balance of the term of this lease after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided; and (d) Any other amount necessary financial resources to compensate Lessor for all detrimental proximately caused by Tenant’s failure to perform meet its obligations under this Lease.

Appears in 1 contract

Sources: Lease Agreement (Alteon Inc /De)

Lessor's Remedies on Default. 15.1 If Tenant the Lessee defaults in the payment of rent, or any additional rent, or defaults in the performance of any of the other covenants or conditions hereofof this Lease, the Lessor may give Tenant the Lessee notice of such default and if Tenant the Lessee does not cure any such default within three (this shall be fifteen, if no other number is filled in3) business days, after the giving of such notice (or if such other default is of such a nature that it cannot be completely cured within such period, if Tenant the Lessee does not commence such curing within such three (this shall be fifteen, if no other number is filled in3) business days and thereafter proceed with reasonable diligence and in good faith to cure such default), then the Lessor may terminate this Lease and all rights of Lessee under this Lease by such written noticeon not less than thirty (30) calendar days' notice to the Lessee. If it so terminates on On the date specified in such notice the term of this Lease shall will terminate, and Tenant shall the Lessee will then quit and surrender the Real Property Premises to the Lessor, but Tenant shall the Lessee will remain liable as hereinafter providedprovided in this Lease. If this Lease shall will have been so terminated by the Lessor, the Lessor may at any time thereafter resume possession of the Real Property Premises by any lawful means and remove Tenant the Lessee or other occupants and their effects. No failure to enforce any term shall will be deemed a waiver. No act . 15.2 The making by the Lessee of Lessor shall be construed as terminating this Lease except written notice given any general assignment or general arrangement for the benefit of creditors; the filing by Lessor or against the Lessee of a petition to Tenant advising Tenant that Lessor elects have the Lessee adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to terminate bankruptcy (unless, in the Lease. In case of a petition filed against the event Lessor elects Lessee, same is dismissed within sixty days; the appointment of a trustee or receiver to terminate take possession of substantially all the Lessee's assets located at the Premises or of the Lessee's interest in this Lease, Lessor may recover from Tenant: where possession is not restored to the Lessee within thirty (a30) The worth days; or the attachment, execution or other judicial seizure of substantially all of the Lessees assets located at the time of award of any unpaid rent that had been earned at the time of termination Premises or of the Lease; (b) The worth at the time of award of the amount by which the unpaid rent that would have been earned after termination of the Lease until the time of award exceeds the amount of rental loss that Tenant proves could have been reasonably avoided; (c) The worth at the time of award of the amount by which the unpaid rent for the balance of the term of this lease after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided; and (d) Any other amount necessary to compensate Lessor for all detrimental proximately caused by Tenant’s failure to perform its obligations under Lessee's interest in this Lease, where such seizure is not discharged within thirty (30) days.

Appears in 1 contract

Sources: Commercial Lease (Mothernature Com Inc)

Lessor's Remedies on Default. If Tenant Lessee defaults in the payment of rent, or any additional rent, or defaults in the performance of any of the other covenants or conditions hereof, Lessor may give Tenant Lessee notice of such default and if Tenant Lessee does not cure any such default within five (this shall be fifteen, if no other number is filled in5) days, after the giving of such notice (or if such other default is of such nature that it cannot be completely cured within such period, if Tenant Lessee does not commence such curing within such five (this shall be fifteen, if no other number is filled in5) days and thereafter proceed with reasonable diligence and in good faith to cure such default), then Lessor may terminate this Lease and all rights of Lessee under this Lease by such written noticelease on not less than five (5) days' notice to Lessee. If it so terminates on On the date specified in such notice the term of this Lease lease shall terminate, and Tenant Lessee shall then quit and surrender the Real Property premises to Lessor, but Tenant Lessee shall remain liable as hereinafter provided. If this Lease lease shall have been so terminated by Lessor, Lessor may at any time thereafter resume possession of the Real Property premises by any lawful means and remove Tenant Lessee or other occupants and their effects. No failure to enforce any term shall be deemed a waiver. No act If the premises shall be abandoned during the term or if Lessee shall be evicted from said premises by summary proceedings or otherwise, or in the event of the commencement of any bankruptcy proceedings by or against Lessee which are not discharged or dismissed within thirty (30) days, or upon the happening of any event of default as provided above, Lessor may at its election terminate this lease (in which event Lessor shall be construed as terminating this Lease except written notice given by Lessor entitled to Tenant advising Tenant that Lessor elects to terminate the Lease. In the event Lessor elects to terminate this Leaserecover damages for any such default), or Lessor may recover from Tenant: (a) The worth reenter the same by force or otherwise, without being liable for prosecution therefor, and may re-let the premises at any time as agent of Lessee, applying any monies collected first to costs, fees and expenses of collecting, then to the time expense of award of any unpaid rent that had been earned at obtaining possession, then to the time of termination payment of the Leaserent and all other sums owing and to become owing Lessor and paying any surplus thereof to Lessee; (b) The worth at the time of award of the amount by which the unpaid and such reentry and re-letting shall not discharge Lessee from liability for rent that would have been earned after termination of the Lease until the time of award exceeds the amount of rental loss that Tenant proves could have been reasonably avoided; (c) The worth at the time of award of the amount by which the unpaid rent for the balance of the term or from any other covenant of this lease after the time of award exceeds the amount of rental loss that Tenant proves could by Lessee to be reasonably avoided; kept and (d) Any other amount necessary to compensate Lessor for all detrimental proximately caused by Tenant’s failure to perform its obligations under this Leaseperformed.

Appears in 1 contract

Sources: Lease Agreement (Casino Resource Corp)

Lessor's Remedies on Default. If Tenant Lessee defaults in the payment of rent, or any additional rentother sum due under this Lease, or defaults in the performance of any of the other covenants covenant or conditions hereof, Lessor may give Tenant Lessee notice of such default default, and if Tenant Lessee does not cure any such default within seven (this shall be fifteen, if no other number is filled in7) days, after days of the giving of such notice (in the case of non-payment of rent or if such other default is of such nature that it cannot be completely cured within such periodcharges, if Tenant does not commence such curing within such and thirty (this shall be fifteen, if no other number is filled in30) days and thereafter proceed with reasonable diligence and good faith to cure such defaultin all other cases), , then Lessor may terminate this Lease and all rights of Lessee under this Lease reenter and repossesses the Leased Premises as provided and permitted by such written noticelaw. If it so terminates on On the date specified in such notice the term of this Lease shall terminate, and Tenant Lessee shall then quit and surrender the Real Property Leased Premises to Lessor, but Tenant Lessee shall remain liable as hereinafter providedfor all obligations under this Lease, including but not limited to the payment of rent for the unexpired term of this Lease. If this Lease shall have been so terminated by Lessor, Lessor may at any time thereafter resume possession of the Real Property Leased Premises by any lawful means and remove Tenant Lessee or other occupants and their effects. No failure to enforce any term shall be deemed a waiver. No act of If Lessor shall obtain possession of the Leased Premises by re-entry, summary proceedings or otherwise, Lessee shall pay Lessor all expenses incurred in obtaining possession of the Leased Premises and also all expenses and commissions that may be construed as terminating paid in and about the letting of the same, and all other damages, including reasonable attorney fees incurred with any of the foregoing. Lessor’s rights under this Lease except written notice given by Lessor to Tenant advising Tenant Section 17 shall be in addition to, and not exclusive of, any other right or remedy that Lessor elects to terminate the Lease. In the event Lessor elects to terminate this Leasemay have at law, Lessor may recover from Tenant: (a) The worth at the time of award of any unpaid rent that had been earned at the time of termination of the Lease; (b) The worth at the time of award of the amount by which the unpaid rent that would have been earned after termination of the Lease until the time of award exceeds the amount of rental loss that Tenant proves could have been reasonably avoided; (c) The worth at the time of award of the amount by which the unpaid rent for the balance of the term of this lease after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided; and (d) Any other amount necessary to compensate Lessor for all detrimental proximately caused by Tenant’s failure to perform its obligations in equity or under this Lease.

Appears in 1 contract

Sources: Lease Agreement

Lessor's Remedies on Default. If Tenant defaults in fulfilling any of the covenants of this Lease other than the covenants for the payment of rent, rent or any additional rent, or defaults if the Demised Premises becomes vacant or deserted in the performance violation of this Lease; 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 covenants than Tenant; or conditions hereofif this Lease be rejected under Section 235 of Title 11 of the U.S. Code (bankruptcy code); or if Tenant shall fail to move into or take possession of the premises within thirty (30) days after the commencement of the term of this Lease, Lessor may give Tenant notice 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 if Tenant does not cure any such default within upon the expiration of said fifteen (this shall be fifteen, if no other number is filled in15) days, after the giving of if Tenant shall have failed to comply with or remedy such notice (default, or if such other the said default is or omission complained of such shall be of a nature that it 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, if Tenant does and shall not commence such curing within such (this shall be fifteen, if no other number is filled in) days and thereafter proceed with reasonable diligence and in good faith faith, proceed to remedy or cure such default), then Lessor Owner may terminate 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 all rights of Lessee under this Lease by such written notice. If it so terminates on the date specified in such notice 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 shall terminate, and the term thereof and Tenant shall then quit and surrender the Real Property Demised Premises to LessorOwner, but Tenant shall remain liable as hereinafter provided. If the notice provided above 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 item of additional rent herein mentioned or any part of either or in making any other payment herein required and such default remains uncured for ten 10) days after written notice from Landlord; then and in any such events Owner may without notice re-enter the Demised Premises either by force or otherwise, and dispossess Tenant by summary proceedings or otherwise, and the legal representative of Tenant or other occupant of Demised Premises and remove their effects and hold the Premises as if this Lease had not been made, and Tenant hereby waives the service of notice of intention to re-enter or institute legal proceedings to that end. If Tenant shall make default hereunder beyond the expiration of the applicable grace period prior to the date fixed as the commencement of any renewal or extension of this Lease, Owner may cancel and terminate such renewal or extension Agreement by written notice. If this Lease shall have been so terminated by LessorLessor pursuant to Paragraph 15 or 16 hereof, Lessor may may, at any time thereafter thereafter, resume possession of the Real Property Premises by any lawful means and remove Tenant Lessee or other occupants and their effects. No failure to enforce any term shall be deemed a waiver. No act of Lessor shall be construed as terminating this Lease except written notice given by Lessor to Tenant advising Tenant that Lessor elects to terminate the Lease. In the event Lessor elects to terminate this LeaseIF LANDLORD IS REQUIRED TO PROCESS FOR COLLECTION OR POSSESSION OR IS CAUSED TO EXPEND LEGAL RESOURCES AS A RESULT OF LESSEE'S DEFAULT UNDER THIS LEASE, Lessor may recover from Tenant: (a) The worth at the time of award of any unpaid rent that had been earned at the time of termination of the Lease; (b) The worth at the time of award of the amount by which the unpaid rent that would have been earned after termination of the Lease until the time of award exceeds the amount of rental loss that Tenant proves could have been reasonably avoided; (c) The worth at the time of award of the amount by which the unpaid rent for the balance of the term of this lease after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided; and (d) Any other amount necessary to compensate Lessor for all detrimental proximately caused by Tenant’s failure to perform its obligations under this LeaseTHEN LESSEE SHALL BE RESPONSIBLE FOR ALL REASONABLE LEGAL FEES AND COSTS AS A RESULT OF SAID DEFAULT.

Appears in 1 contract

Sources: Lease Agreement (Global Sources LTD)

Lessor's Remedies on Default. If Tenant Lessee defaults in the payment of rentFixed Basic Rent, or any additional rentAdditional Rent, or defaults in the performance of any of the other covenants and conditions hereof or conditions hereofpermits the Premises to become deserted, abandoned or vacated, Lessor may give Tenant Lessee notice of such default default, and if Tenant Lessee does not cure any such Fixed Basic Rent or Additional Rent default within ten (this shall be fifteen, if no 10) days or other number is filled indefault within thirty (30) days, days after the giving of such notice (or if such other default is of such nature that it cannot be completely cured within such period, if Tenant Lessee does not commence such curing within such thirty (this shall be fifteen, if no other number is filled in30) days and thereafter proceed with reasonable diligence and in good faith to cure such default), then Lessor may terminate this Lease on not less than ten (10) days' notice to Lessee, and all rights of Lessee under this Lease by such written notice. If it so terminates on the date specified in such notice said notice, Lessee's right to possession of the term of this Lease Premises shall terminate, and Tenant shall then quit and surrender the Real Property to Lessor, cease but Tenant Lessee shall remain liable as hereinafter provided. If this Lease shall have been so terminated by LessorLessor pursuant to Articles 12 or 13 hereof, Lessor may at any time thereafter resume possession of the Real Property Premises by any lawful means and remove Tenant Lessee or other occupants and their effects. No failure Lessee shall pay to enforce Lessor, within thirty (30) days after demand and delivery of reasonable documentation therefor, such actual out-of-pocket reasonable expenses as Lessor may incur, including, without limitation, court costs and reasonable attorney's fees and disbursements, in enforcing the performance of any term obligation of Lessee under this Lease. Notwithstanding anything contained herein, Lessee's vacating of the Premises shall not be deemed a waiver. No act default of Lessor shall be construed as terminating this Lease except written notice given by Lessor to Tenant advising Tenant that Lessor elects to terminate the Lease. In the event Lessor elects to terminate this Lease, if Lessee submits to Lessor may recover from Tenant: (a) The worth at then current financial statements, certified by Lessee's chief financial officer or a certified public accountant, evidencing to Lessor's reasonable satisfaction, that Lessee has the time of award of any unpaid rent that had been earned at the time of termination of the Lease; (b) The worth at the time of award of the amount by which the unpaid rent that would have been earned after termination of the Lease until the time of award exceeds the amount of rental loss that Tenant proves could have been reasonably avoided; (c) The worth at the time of award of the amount by which the unpaid rent for the balance of the term of this lease after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided; and (d) Any other amount necessary financial resources to compensate Lessor for all detrimental proximately caused by Tenant’s failure to perform meet its obligations under this Lease.

Appears in 1 contract

Sources: Lease Agreement (Barr Laboratories Inc)

Lessor's Remedies on Default. If Tenant Lessee defaults in the payment of rent, or any additional rent, or defaults in the performance of any of the other covenants or conditions hereof, Lessor may give Tenant Lessee notice of such default and if Tenant Lessee does not cure any such default within five (this shall be fifteen, if no other number is filled in5) days, after the giving of such notice (or if such other default is of such nature that it cannot be completely cured within such period, if Tenant Lessee does not commence such curing within such five (this shall be fifteen, if no other number is filled in5) days and thereafter proceed with reasonable diligence and in good faith to cure such default), then Lessor may terminate this Lease and all rights of Lessee under this Lease by such written noticelease on not less than five (5) days' notice to Lessee. If it so terminates on On the date specified in such notice the term of this Lease lease shall terminate, and Tenant Lessee shall then quit and surrender the Real Property premises to Lessor, but Tenant Lessee shall remain liable as hereinafter provided. If this Lease lease shall have been so terminated by Lessor, Lessor may at any time thereafter resume possession of the Real Property premises by any lawful means and remove Tenant Lessee or other occupants and their effects. No failure to enforce any term shall be deemed a waiver. No act If the premises shall be abandoned during the term or if Lessee shall be evicted from aid premises by summary proceedings or otherwise, or in the event of the commencement of any bankruptcy proceedings by or against Lessee which are not discharged or dismissed within thirty (30) days, or upon the happening of any event of default as provided above, Lessor may at its election terminate this lease (in which event Lessor shall be construed as terminating this Lease except written notice given by Lessor entitled to Tenant advising Tenant that Lessor elects to terminate the Lease. In the event Lessor elects to terminate this Leaserecover damages for any such default), or Lessor may recover from Tenant: (a) The worth reenter the same by force or otherwise, without being liable for prosecution therefore, and may re-let the premises at anytime as agent of Lessee, applying any monies collected first to costs, fees and expenses of collecting, then to the time expense of award of any unpaid rent that had been earned at obtaining possession, then to the time of termination payment of the Leaserent and all other sums owing and to become owing Lessor and paying any surplus thereof to Lessee; (b) The worth at the time of award of the amount by which the unpaid and such reentry and re-letting shall not discharge Lessee from liability for rent that would have been earned after termination of the Lease until the time of award exceeds the amount of rental loss that Tenant proves could have been reasonably avoided; (c) The worth at the time of award of the amount by which the unpaid rent for the balance of the term or from any other covenant of this lease after the time of award exceeds the amount of rental loss that Tenant proves could by Lessee to be reasonably avoided; kept and (d) Any other amount necessary to compensate Lessor for all detrimental proximately caused by Tenant’s failure to perform its obligations under this Leaseperformed.

Appears in 1 contract

Sources: Lease Agreement (Bouncebacktechnologies Com Inc)

Lessor's Remedies on Default. If Tenant Lessee defaults in the payment of rent, or any additional rent, or defaults in the performance of any of the other covenants or conditions hereof, . Lessor may give Tenant Lessee notice of such default and if Tenant Lessee does not cure any such default within (this shall be fifteen, if no other number is filled in) 30 days, after the giving of such notice (or if such other default is of such nature that it cannot be completely cured within such period, if Tenant Lessee does not commence such curing within such (this shall be fifteen, if no other number is filled in) 30 days and thereafter proceed with reasonable diligence and in good faith to cure such default), then the Lessor may terminate this Lease and all rights of Lessee under this Lease by such written noticeon not less than 30 days’ notice to Lessee. If it so terminates on On the date specified in such notice the term of this Lease shall terminate, and Tenant Lessee shall then quit and surrender the Real Property premises to Lessor, but Tenant Lessee shall remain liable as hereinafter provided. If this Lease shall have been so terminated by Lessor, Lessor may at any time thereafter resume possession of the Real Property premises by any lawful means and remove Tenant Lessee or other occupants and their effects. No failure to enforce any term SECURITY DEPOSIT. Lessee shall be deemed a waiver. No act deposit with Lessor on the signing of Lessor shall be construed as terminating this Lease except written notice given by Lessor to Tenant advising Tenant that Lessor elects to terminate the Lease. In sum of Six hundred and NO/100 - ($600.00) - DOLLARS as security for the event Lessor elects to terminate performance of Lessee’s obligations under this Lease, Lessor may recover from Tenant: (a) The worth at including without limitation the time surrender of award of any unpaid rent that had been earned at the time of termination possession of the Lease; (b) The worth at the time of award premises to Lessor as herein provided. If Lessor applies any part of the amount by which the unpaid rent that would have been earned after termination deposit to cure any default of the Lease until the time of award exceeds Lessee, Lessee shall on demand deposit with Lessor the amount of rental loss so applied so that Tenant proves could Lessor shall have been reasonably avoided; (c) The worth the full deposit on hand at the time of award of the amount by which the unpaid rent for the balance of all times during the term of this lease after Lease. ATTORNEY’S FEES. In case suit should be brought for recovery of the time premises, or for any sum due hereunder, or because of award exceeds any act which may arise out of the amount possession of rental loss that Tenant proves could the premises, by either party, the prevailing party shall be reasonably avoided; and (d) Any other amount necessary entitled to compensate Lessor for all detrimental proximately caused by Tenantcosts incurred in connection with such action, including a reasonable attorney’s failure to perform its obligations under this Leasefee.

Appears in 1 contract

Sources: Lease Agreement (Lectec Corp /Mn/)

Lessor's Remedies on Default. (1) If Tenant any one or more of the following events shall happen and shall not have been cured within any applicable grace period herein provided: (i) if default shall be made in the due and punctual payment of Fixed Basic Rent or Additional Rent payable by Lessee under this Lease when and as the same shall become due and payable, and such default shall continue for a period of ten (10) days after written notice thereof from Lessor to Lessee (provided that no such notice shall be required if, during the period of one (1) year immediately preceding the date of default, there shall have been two (2) or more defaults in the due and punctual payment of rentFixed Basic Rent or Additional Rent payable by Lessee under this Lease when and as the same shall have been due and payable following the required notice and the expiration of the applicable cure period); or (ii) if default shall be made by Lessee in performance of, or any additional rentcompliance with, or defaults in the performance of any of the other covenants covenants, agreements or conditions hereofcontained in this Lease and either (i) in the case of a default or a contingency which can with due diligence be cured within thirty (30) days, such default shall continue for a period of thirty (30) days after written notice thereof from Lessor to Lessee, or (ii) in the case of a default or a contingency which cannot with due diligence be cured within thirty (30) days, Lessee shall fail, after written notice thereof from Lessor, to proceed promptly and with all due diligence to commence to cure the same and thereafter to prosecute the curing of such default with all due diligence (it being intended that, in connection with a default which is not susceptible of being cured with due diligence within thirty (30) days the time of Lessee within which to cure the same shall be extended for such period as may be necessary for the curing thereof with all due diligence); or (iii) if Lessee shall file a voluntary petition seeking an order or relief under Title 11 of the United States Code or similar law of any jurisdiction applicable to Lessee, or Lessee shall be adjudicated a debtor, bankrupt or insolvent, or shall file any petition or answer seeking, consenting to or acquiescing in any order for relief, reorganization, arrangement, composition, adjustment, winding-up, liquidation, dissolution or similar relief with respect to Lessee or its debts under the present or any future bankruptcy act or any other present or future applicable federal, state or other statute or law, or shall file an answer admitting or failing to deny the material allegations of a petition against it for any such relief or shall generally not, or shall be unable to, pay its debts as they become due or shall admit in writing in any filing with any court or Governmental Authority its insolvency or its inability to pay its debts as they become due, or shall make a general assignment for the benefit of creditors or shall seek or consent or acquiesce in the appointment of any trustee, receiver, examiner, assignee, sequestrator, custodian or liquidator or similar official of Lessee or of all or any part of Lessee’s property or if Lessee shall take any action in furtherance of or authorizing any of the foregoing; or (iv) if any case, proceeding or other action shall be commenced or instituted against Lessee, seeking to adjudicate Lessee a bankrupt or insolvent, or seeking an order for relief against Lessee as debtor, or reorganization, arrangement, composition, adjustment, winding-up, liquidation, dissolution or similar relief with respect to Lessee or its debts under the present or any future bankruptcy act or any other present or future applicable federal, state or other statute or law, or seeking appointment of any trustee, receiver, examiner, assignee, sequestrator, custodian or liquidator or similar official of Lessee or of all or part of Lessee’s property, which either (i) results in the entry of an order for relief, adjudication of bankruptcy or insolvency or such an appointment or the issuance or entry of any other order having similar effect or (ii) remains undismissed for a period of ninety (90) days; or if any case, proceeding or other action shall be commenced or instituted against Lessee seeking issuance of a warrant of execution, attachment, restraint or similar process against Lessee or any of Lessee’s property which results in the taking or occupancy of the Premises or an attempt to take or occupy the Premises which shall not have been vacated, discharged, or stayed or bonded pending appeal within ninety (90) days after the entry thereof; or (v) if any financial statement or other information furnished to Lessor by Lessee in connection with this Lease is materially false or misleading; then and in any such event (hereinafter sometimes called an “Event of Default”) Lessor may give Tenant written notice (“Termination Notice”) to Lessee specifying such Event of such default Default or Events of Default and if Tenant does not cure any such default within (stating that this Lease and the Term shall expire and terminate on the date specified in the Termination Notice, which shall be fifteen, if no other number is filled inat least ten (10) days, days after the giving of such notice (or if such other default is of such nature that it cannot be completely cured within such periodthe Termination Notice, if Tenant does not commence such curing within such (this shall be fifteen, if no other number is filled in) days and thereafter proceed with reasonable diligence and good faith to cure such default), then Lessor may terminate on the date specified therein this Lease and the Term and all rights of Lessee under this Lease by such written notice. If it so terminates on the date specified in such notice the term of this Lease shall expire and terminate, it being the intention of the Lessor and Tenant shall then quit Lessee hereby to create conditional limitations, and surrender the Real Property to Lessor, but Tenant Lessee shall remain liable as hereinafter providedprovided in this Article 13 and in accordance with those provisions of this Lease which are specifically stated herein to survive the expiration or other termination of this Lease. (2) Notwithstanding the provisions of Section 13(a), if there shall be an Event of Default at any time or from time to time under the provisions of subdivision (i) of Section 13(a)(1), Lessor may, in lieu of giving a Termination Notice, at any time after the occurrence of any such Event of Default and during the continuance thereof, institute an action for the recovery of the Fixed Basic Rent and/or Additional Rent in respect of which an Event of Default shall have occurred and be continuing. If Neither the commencement of any such action for the recovery of Fixed Basic Rent and/or Additional Rent nor the prosecution thereof shall be deemed a waiver of Lessor’s right to give a Termination Notice in respect of any such Event of Default during the continuance thereof and Lessor may, notwithstanding the commencement and prosecution of any such action, give a Termination Notice and terminate this Lease pursuant to Section 13(a) at any time during the continuance of such Event of Default. (3) If, at any time, (i) Lessee shall be comprised of two or more persons, or (ii) Lessee’s obligations under this Lease shall have been so guaranteed by any person other than Lessee, or (iii) Lessee’s interest in this Lease shall have been assigned, the word “Lessee”, as used in subdivisions (iv) and (v) of Section 13(a)(1), shall be deemed to mean any one or more of the persons primarily or secondarily liable for Lessee’s obligations under this Lease. Any monies received by Lessor from or on behalf of Lessee during the pendency of any proceeding of the types referred to in said subdivision (iv) of Section 13(a)(1) shall be deemed paid as compensation for the use and occupation of the Premises and the acceptance of any such compensation by Lessor shall not be deemed an acceptance of rent or a waiver on the part of Lessor of any rights under Section 13(a). (b) In the event that this Lease shall be terminated by Lessoras provided in this Section, Lessor may or Lessor’s agents may, immediately, or at any time thereafter resume possession thereafter, without further notice, enter upon and re-enter the Premises and possess and repossess itself thereof, by summary proceedings, ejectment or otherwise, and have, hold and enjoy the Premises and the right to receive all income of and from the same. No re-entry by Lessor pursuant to this Section shall be deemed an acceptance of a surrender of this Lease nor shall it absolve or discharge Lessee from any liability under this Lease. (c) In the event that this Lease shall be terminated as provided in this Section, Lessor may, at any time or from time to time thereafter, relet the Premises or any part thereof, for such term or terms (which may be greater or less than the period which would otherwise have constituted the balance of the Real Property by Term) and on such conditions (which may include concessions or free rent, which shall, however, be amortized over the entire term for the purpose of determining damages under this Section) as Lessor may determine, to any lawful means tenant which it may deem suitable and remove Tenant satisfactory and for any use and purpose it may deem appropriate and may collect and receive the rents therefor. Lessor shall use commercially reasonable methods in making such reletting. Lessor, at its option, may make such repairs, alterations, additions, improvements, decorations and other physical changes in and to the Premises as Lessor considers advisable or other occupants and their effectsnecessary in connection with any such reletting or proposed reletting, without relieving Lessee of any liability under this Lease or otherwise affecting any such liability. No Lessor shall in no way be responsible or liable for any failure to enforce relet the Premises, or any term part thereof, or for any failure to collect any rent due upon such reletting. Lessor shall not in any event be required to pay Lessee (but shall credit Lessee, to the extent set forth in this Section, with) any sums received by Lessor on a reletting of the Premises, or any part thereof; whether or not in excess of the rent reserved in this Lease. (d) Lessee, on its own behalf and on behalf of all persons claiming through or under Lessee including all creditors, does hereby waive any and all rights and privileges, so far as is permitted by law, which Lessee and all such persons might otherwise have under any present or future law, to (i) the service of any notice of intention to re-enter or institute legal proceedings to that end, excluding service of process, (ii) redeem the Premises, (iii) re-enter or repossess the Premises, or (iv) restore the operation of this Lease, after Lessee shall have been dispossessed by a judgment or by warrant of any court or judge, or after any re-entry by Lessor or after any expiration or termination of this Lease and the Term, whether such dispossess, re-entry, expiration or termination shall be by operation of law or pursuant to the provisions of this Lease. The words “re-enter,” “re-entry” and “re-entered” as used in this Lease shall not be deemed to be restricted to their technical legal meanings. (e) In the event the Lessee shall dispute the validity or amount, or the time or manner of payment of, any rent claimed by Lessor to be due from Lessee under this Lease, Lessee shall nevertheless pay the same and such payment may be without prejudice to Lessee’s position if Lessee so requests at the time of payment. If the dispute shall be finally determined in Lessee’s favor by a court of competent jurisdiction or arbitration, Lessor shall within a reasonable period of time not to exceed sixty (60) days pay Lessee the amount of Lessee’s overpayment of such rent, together with interest as provided hereunder. Lessee’s failure to observe and perform the provisions of this Section shall be deemed a waiver. No act default under subdivision (i) of Section 13(a). (f) In the event that this Lease be terminated as a result of an Event of Default on the part of the Lessee and whether or not the Premises be relet, Lessor shall be construed entitled to retain all monies, if any, paid by Lessee to Lessor, whether as terminating this Lease except written notice given advance rent or otherwise, but such monies shall be credited by Lessor to Tenant advising Tenant that Lessor elects to terminate the Lease. In the event Lessor elects to terminate this Lease, Lessor may recover from Tenant: (a) The worth against any rent due at the time of award such termination, or at Lessor’s option against any damages payable by Lessee, and Lessor shall be entitled to recover from Lessee, and Lessee shall pay to Lessor the following: (i) All rent to the date upon which this Lease and the Term shall have terminated, and (ii) All expenses reasonably incurred by Lessor in recovering possession of any unpaid the Premises (including reasonable attorneys’ fees and the costs of summary or other legal proceedings), restoring the Premises to good order and condition, maintaining the Premises in good order and condition while vacant, altering or otherwise returning the same to the condition that same were in upon delivery of the Premises to Lessee on the Commencement Date, the same to be paid by Lessee to Lessor on demand, and (iii) All expenses incurred by Lessor in reletting the Premises, including brokerage commissions, tenant improvement costs, rent that had concessions and other inducements, and (iv) The amount by which the rent which, but for the termination of this Lease, would have been earned at payable under this Lease from the time date of termination to the Expiration Date exceeds the rental and other income, if any, collected by Lessor in respect of the Lease; Premises, or any part thereof, subject nevertheless to the provisions of Section 13(c), said amount to be due and payable by Lessee to Lessor on the several days on which the rent reserved in this Lease would have become due and payable for the period which otherwise would have constituted the unexpired portion of the Term (b) The worth at that is to say, upon each of such days Lessee shall pay to Lessor the time amount of award of deficiency then existing). Whether or not Lessor shall have collected any monthly deficiencies aforesaid, Lessor shall be entitled to recover from Lessee on demand, as and for liquidated damages, a lump sum payment equal to the amount by which the unpaid rent that Fixed Basic Rent and Additional Rent payable hereunder for the period which otherwise would have been earned after termination constituted the unexpired portion of the Lease until Term (due account being taken of amounts, if any, collected under clause [3] of Section 13(a), and conclusively presuming the time Additional Rent to be the same as was payable for the year immediately preceding such termination or re-entry and thereafter increasing by five (5%) percent per annum) exceeds the then rental value of award exceeds the Premises for the same period both discounted at a rate equal to then applicable Treasury Rate to present value. If the Premises or any part thereof be reset by Lessor for the unexpired portion of the Term, or any part thereof, before presentation of proof of such liquidated damages to any court, commission or tribunal, the amount of rent reserved upon such reletting shall be deemed prima facie to be the fair and reasonable rental loss that Tenant proves could have been reasonably avoided; (c) The worth value for the part or the whole of the Premises so relet during the term of the reletting. Nothing herein contained shall limit or prejudice the right of the Lessor to prove for and obtain as damages by reason of such termination an amount equal to the maximum allowed by any statute or rule of law in effect at the time of award of when, and governing the proceedings in which, such damages are to be proved, whether or not such amount by which the unpaid rent for the balance of the term of this lease after the time of award exceeds be greater or less than the amount of rental loss that Tenant proves could liquidated damages referred to above (due account to be reasonably avoided; and (d) Any other amount necessary to compensate Lessor for all detrimental proximately caused by Tenant’s failure to perform its obligations taken, however, of the amounts, if any, collected under this LeaseSection 13). (g) In no event shall Lessee be entitled to receive any excess of the rental and other income collected by Lessor in respect of the Premises over the sums payable by Lessee to Lessor hereunder. In no event shall Lessee be entitled in any suit for the collection of damages pursuant to this Section to a credit in respect of any such rental and other income, except to the extent that such rental and other income is allocable to the portion of the Term in respect of which such suit is brought and is actually received by Lessor prior to the entry of judgment in such suit. (h) Separate actions may be maintained by Lessor against Lessee from time to time to recover any damages which, at the commencement of any such action, have then or theretofore become due and payable to Lessor under Section, without waiting until the end of the Term and without prejudice to Lessor’s right to collect damages thereafter.

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Sources: Lease Agreement (Vonage Holdings Corp)