Common use of Liability of Tenant and Landlord Clause in Contracts

Liability of Tenant and Landlord. No termination of this Lease pursuant to Section 15.02 hereof or by operation of law or otherwise (except as expressly provided herein) and no repossession of the Premises or any part thereof pursuant to Section 15.03 hereof or otherwise, shall relieve Tenant or Landlord of their respective liability and obligations hereunder, all of which shall survive such termination or repossession. Landlord shall be entitled, at its election, to ▇▇▇ for and receive each increment of Rent and Additional Rental as and when the same shall become due, irrespective of whether Landlord shall have terminated this Lease or reentered and relet the Premises or any portion thereof, provided only that in the event of reletting, Tenant shall be entitled to a credit for the Reletting Proceeds, if any, up to the amount of Rent and Additional Rental that would otherwise have been due from Tenant to Landlord hereunder.

Appears in 2 contracts

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