Payments by Tenant. In case of any such re-entry, termination and/or dispossession by summary proceedings or otherwise as provided in the immediately preceding paragraph, (i) the Basic Rent and Additional Rent shall be paid up to the time of such re-entry, dispossession and/or termination, together with such expenses, including reasonable attorneys’ fees and expenses, as Landlord shall incur in connection with such re-entry, termination and/or dispossession by summary proceedings or otherwise; (ii) Landlord may in good faith relet the Leased Property or any part or parts thereof, either in the name of Landlord or otherwise, for a term or terms which may, at Landlord’s option, be equal to or less than or exceed the period which would otherwise have constituted the balance of the Term of this Lease; (iii) Tenant shall also pay to Landlord all other damages and expenses which Landlord shall have sustained by reason of the breach of any provision of this Lease, including, without limitation, legal expenses, reasonable attorneys’ fees, brokerage commissions and expenses incurred in removing Tenant’s trade fixtures or other assets from the Leased Property, repairing and putting the Leased Property and any buildings and improvements thereon in good order and condition and in preparing the same for reletting, which expenses shall be paid by Tenant as they are incurred by Landlord; (iv) Tenant shall also pay to Landlord the amount by which the Basic Rent reserved in this Lease exceeds the net amount, if any, of the rents collected on account of the leases of the Leased Property for each month of the period which would otherwise have constituted the Term of this Lease (excluding unexercised extension options), which amounts shall be paid in monthly installments by Tenant on the respective Rent Payment Dates specified therefor, and any suit brought to collect said amounts for any month or months shall not prejudice in any way the rights of Landlord to collect the deficiency in any subsequent month by a similar action or proceeding; and/or (v) at the option of Landlord exercised at any time, Landlord forthwith shall be entitled to recover from Tenant as liquidated damages, in addition to clause (i), but in lieu of and not in addition to any amount which would thereafter have become payable under the preceding clauses (ii), (iii) and (iv), whichever of the following sums Landlord shall elect: (A) an amount equal to the excess, if any, of the Termination Value of a Leased Property computed as of the Termination Date over the present value of the Fair Market Rental Value of such Leased Property for the balance of the useful life of such Leased Property, such Fair Market Rental Value to be determined by mutual agreement of Landlord and Tenant, or if they cannot agree within ten (10) days of such notice, by the appraisal procedure set forth in Paragraph (e) of Article 4 above, but without regard to any limitations imposed with respect to Maximum Renewal Term Rent or Aggregate FMRV Rent; (B) if a Leased Property has not been sold, an amount equal to the excess, if any, of the Termination Value of such Leased Property, computed as of the Termination Date, over the Fair Market Purchase Value of such Leased Property as of the Final Payment Date, such Fair Market Purchase Value to be determined by mutual agreement of Landlord and Tenant, or if they cannot agree within ten (10) days after such notice, by the appraisal procedure set forth in Paragraph (e) of Article 4 above, but without regard to any limitations imposed with respect to Maximum Renewal Term Rent or Aggregate FMRV Rent; or (C) the Termination Value of a Leased Property computed as of the Termination Date, provided that upon payment of such amount and the amount of any unpaid Rent referred to in clause (i) of this Article 23(c)(C), Landlord shall assign and convey such Leased Property to Tenant, without further consideration, in accordance with the terms and provisions of Article 17 hereof. Landlord, at Landlord’s option, may make such alterations and/or decorations in the Leased Property as Landlord, in Landlord’s sole judgment, considers advisable and necessary for the purpose of reletting the Leased Property; and the making of such alterations and/or decorations shall not operate or be construed to release Tenant from liability hereunder as aforesaid.
Appears in 2 contracts
Sources: Lease Agreement (Gramercy Capital Corp), Lease Agreement (Gramercy Capital Corp)
Payments by Tenant. In case of any such re-entry, termination and/or dispossession by summary proceedings or otherwise as provided in the immediately preceding paragraph, (i) the Basic Rent and Additional Rent shall become due thereupon and be paid up to the time of such re-entry, dispossession and/or termination, together with such expenses, including reasonable attorneys’ fees and expenses, as Landlord shall incur in connection with such re-entry, termination and/or dispossession by summary proceedings or otherwise; (ii) Landlord may in good faith relet the Leased Property or any part or parts thereof, either in the name of Landlord or otherwise, for a term or terms which may, at Landlord’s option, be equal to or less than or exceed the period which would otherwise have constituted the balance of the Term term of this Lease; (iii) Tenant shall also pay to Landlord all other damages and expenses which Landlord shall have sustained by reason of the breach of any provision of this Lease, including, without limitation, legal expenses, reasonable attorneys’ fees, brokerage commissions and expenses incurred in removing Tenant’s trade fixtures or other assets from the Leased Propertyaltering, repairing and putting the Leased Property and any buildings and improvements thereon in good order and condition and in preparing the same for reletting, which expenses shall be paid by Tenant as they are incurred by Landlord; (iv) Tenant shall also pay to Landlord the amount by which the Basic Rent reserved in this Lease exceeds the net amount, if any, of the rents collected on account of the leases of the Leased Property for each month of the period which would otherwise have constituted the Term of this Lease (excluding unexercised extension options), which amounts shall be paid in monthly installments by Tenant on the respective Rent Installment Payment Dates specified therefor, and any suit brought to collect said amounts for any month or months shall not prejudice in any way the rights of Landlord to collect the deficiency in any subsequent month by a similar action or proceeding; and/or (v) at the option of Landlord exercised at any time, Landlord forthwith shall be entitled to recover from Tenant as liquidated damages, in addition to clause (i), any other proper claims but in lieu of and not in addition to any amount which would thereafter have become payable under the preceding clauses (ii), (iii) and clause (iv), whichever of the following sums Landlord shall elect:
(A1) an amount equal to the excessBasic Rent and Additional Rent reserved in this Lease and/or covenanted to be paid for the remainder of the Term of this Lease (excluding unexercised extension periods), discounted at the rate of five percent (5%) per year to present worth; provided that, if any, of the Termination Value of a Leased Property computed as of the Termination Date over the present value of the Fair Market Rental Value of such Leased Property for the balance of the useful life of such Leased Property, such Fair Market Rental Value to be determined by mutual agreement of Landlord and Tenant, or if they cannot agree within ten (10) days of such notice, by the appraisal procedure set forth in Paragraph (e) of Article 4 above, but without regard to any limitations imposed with respect to Maximum Renewal Term Rent or Aggregate FMRV Rent;
(B) if a Leased Property has not been sold, an amount equal to the excess, if any, of the Termination Value of such Leased Property, computed as of the Termination Date, over the Fair Market Purchase Value of such Leased Property as of the Final Payment Date, such Fair Market Purchase Value to be determined by mutual agreement of Landlord and Tenant, or if they cannot agree within ten (10) days after such notice, by the appraisal procedure set forth in Paragraph (e) of Article 4 above, but without regard to any limitations imposed with respect to Maximum Renewal Term Rent or Aggregate FMRV Rent; or
(C) the Termination Value of a Leased Property computed as of the Termination Date, provided that upon payment of such amount and the amount of any unpaid Rent referred to in clause (i) of this Article 23(c)(C)Tenant shall so request, Landlord shall at the time of such payment assign and convey such the Leased Property to Tenant, without further consideration, in accordance with the terms and provisions of Article 17 hereof; or
(2) the Termination Value as set forth in Schedule F hereto, plus any penalty imposed upon Landlord pursuant to any mortgage affecting Landlord’s interest in the Leased Property due to Landlord’s prepayment of the debt secured by said mortgage. Landlord, at Landlord’s option, may make such alterations and/or decorations in the Leased Property as Landlord, in Landlord’s sole judgment, considers advisable and necessary for the purpose of reletting the Leased Property; and the making of such alterations and/or decorations shall not operate or be construed to release Tenant from liability hereunder as aforesaid.
Appears in 2 contracts
Sources: Lease Agreement (Gramercy Capital Corp), Lease Agreement (Gramercy Capital Corp)
Payments by Tenant. In case On or before the first day of each calendar month during the Term hereof, Tenant shall pay to Landlord in advance for such month the Rental together with any Additional Rental provided for herein then in effect without notice or demand except as provided in Paragraph 5 commencing with the first day of the first month following the Commencement Date. All payments due hereunder shall be paid in lawful money of the United States of America at the time of payment at the address of Landlord as set forth below, or if Landlord so requests Tenant in writing, by sending such amount to such other party or place in Bexar County, Texas as Landlord may designate from time to time in a written notice to Tenant. If this Lease commences or terminates on any day other than the first or last day of a calendar month or year, the Rental (but not the Additional Rental) due hereunder shall be prorated. Tenant's responsibility to pay such Rental and Additional Rental is an independent covenant and, unless expressly agreed to in writing by Landlord, Tenant shall not be entitled to require Landlord's demand, nor for Tenant to deduct from or set off against such payments any sums owing or claimed to be owing by Landlord to Tenant; and, no condition or circumstances shall entitle Tenant to an abatement of any such re-entry, termination and/or dispossession by summary proceedings or otherwise as provided in payment. In the immediately preceding paragraph, (i) event the Basic Rent Rental and Additional Rent shall be paid up to the time of such re-entry, dispossession and/or termination, together with such expenses, including reasonable attorneys’ fees and expenses, as Landlord shall incur in connection with such re-entry, termination and/or dispossession by summary proceedings or otherwise; (ii) Landlord may in good faith relet the Leased Property or any part or parts thereof, either in the name of Landlord or otherwise, for a term or terms which may, at Landlord’s option, be equal to or less than or exceed the period which would otherwise have constituted the balance of the Term of this Lease; (iii) Tenant shall also pay to Landlord all other damages and expenses which Landlord shall have sustained by reason of the breach of any provision of this Lease, including, without limitation, legal expenses, reasonable attorneys’ fees, brokerage commissions and expenses incurred in removing Tenant’s trade fixtures or other assets from the Leased Property, repairing and putting the Leased Property and any buildings and improvements thereon in good order and condition and in preparing the same for reletting, which expenses shall be paid by Tenant as they are incurred by Landlord; (iv) Tenant shall also pay to Landlord the amount by which the Basic Rent reserved in this Lease exceeds the net amountRental, if any, is not received by Landlord on or before the TENTH (10TH) day of the rents collected on account month in which it is due, Tenant shall pay an additional sum ("Late Charge") equal to FIVE PERCENT (5%) of the leases amount of the Leased Property for each month of the period Rental and Additional Rental due and payable which would otherwise have constituted the Term of this Lease (excluding unexercised extension options), which amounts sum shall be paid in monthly installments by Tenant on immediately due and payable and tendered with the respective Rent Payment Dates specified therefor, payment of such Rental and any suit brought to collect said amounts for any month or months shall not prejudice in any way the rights of Landlord to collect the deficiency in any subsequent month by a similar action or proceeding; and/or (v) at the option of Landlord exercised at any time, Landlord forthwith shall be entitled to recover from Tenant as liquidated damages, in addition to clause (i), but in lieu of and not in addition to any amount which would thereafter have become payable under the preceding clauses (ii), (iii) and (iv), whichever of the following sums Landlord shall elect:
(A) an amount equal to the excessAdditional Rental, if any, of the Termination Value of a Leased Property computed as of the Termination Date over the present value of the Fair Market Rental Value of such Leased Property . The Late Charge shall be compensation to Landlord for the balance of the useful life of such Leased Property, such Fair Market Rental Value to be determined by mutual agreement of Landlord and Tenant, or if they cannot agree within ten (10) days of such notice, by the appraisal procedure set forth in Paragraph (e) of Article 4 above, but without regard to any limitations imposed with respect to Maximum Renewal Term Rent or Aggregate FMRV Rent;
(B) if a Leased Property has not been sold, an amount equal to the excess, if any, of the Termination Value of such Leased Property, computed as of the Termination Date, over the Fair Market Purchase Value of such Leased Property as of the Final Payment Date, such Fair Market Purchase Value to be determined by mutual agreement of Landlord and Tenant, or if they cannot agree within ten (10) days after such notice, by the appraisal procedure set forth in Paragraph (e) of Article 4 above, but without regard to any limitations imposed with respect to Maximum Renewal Term Rent or Aggregate FMRV Rent; or
(C) the Termination Value of a Leased Property computed as of the Termination Date, provided that upon payment of such amount and the amount of any unpaid Rent referred to in clause (i) of this Article 23(c)(C), Landlord shall assign and convey such Leased Property to Tenant, without further consideration, in accordance with the terms and provisions of Article 17 hereof. Landlord, at Landlord’s option, may make such alterations and/or decorations additional expense involved in the Leased Property as Landlord, in Landlord’s sole judgment, considers advisable handling and necessary for the purpose processing of reletting the Leased Property; and the making of such alterations and/or decorations shall not operate or be construed to release Tenant from liability hereunder as aforesaidlate payments.
Appears in 1 contract
Payments by Tenant. In case The Tenant shall pay to the Landlord a fee of $1.50 per square foot of the Rentable Space of the Leased Premises to provide temporary services during the period that the Tenant is completing the Tenant's Work including hoisting, temporary power, lighting, heating and security. The Tenant shall further pay to the Landlord, in respect of the conduct of Tenant's Work, the reasonable cost to the Landlord of special supervision, the cost of any necessary cutting or patching of or repairing any injury to the Landlord's Work, the cost of removal of refuse or of cleaning as a result of Tenant's Work, or of removing or correcting faulty Tenant's Work, any cost to the Landlord of changes in the Landlord's Work required by the Tenant for the use of the Leased Premises, the cost of any Tenant's Work performed by the Landlord at the request of the Tenant, and all other costs incurred for the accommodation of any Tenant's Work (including delays in the Landlord's Work caused by the conduct of Tenant's Work) and any other costs of the Landlord that can reasonably be allocated as direct expense relating to the conduct of Tenant's Work as well as an administrative fee equal to five (5%) percent of the full contract price for all approvals, supervision to ensure compliance with approved plans and building code requirements and attendance at site meetings, if necessary. Any invoices may be based upon the Landlord's reasonable estimate of any such re-entry, termination and/or dispossession by summary proceedings or otherwise as provided in the immediately preceding paragraph, (i) the Basic Rent and Additional Rent shall costs wherever such costs cannot be paid up exactly determined from information then available to the time Landlord. The Tenant shall pay to the Landlord the Landlord's Cost of such re-entrywork performed by the Landlord, dispossession and/or termination, together with such expenses, including reasonable attorneys’ fees and expenses, as Landlord shall incur in connection with such re-entry, termination and/or dispossession by summary proceedings or otherwise; within thirty (ii) Landlord may in good faith relet the Leased Property or any part or parts thereof, either in the name of Landlord or otherwise, for a term or terms which may, at Landlord’s option, be equal to or less than or exceed the period which would otherwise have constituted the balance of the Term of this Lease; (iii) Tenant shall also pay to Landlord all other damages and expenses which Landlord shall have sustained by reason of the breach of any provision of this Lease, including, without limitation, legal expenses, reasonable attorneys’ fees, brokerage commissions and expenses incurred in removing Tenant’s trade fixtures or other assets from the Leased Property, repairing and putting the Leased Property and any buildings and improvements thereon in good order and condition and in preparing the same for reletting, which expenses shall be paid by Tenant as they are incurred by Landlord; (iv) Tenant shall also pay to Landlord the amount by which the Basic Rent reserved in this Lease exceeds the net amount, if any, of the rents collected on account of the leases of the Leased Property for each month of the period which would otherwise have constituted the Term of this Lease (excluding unexercised extension options), which amounts shall be paid in monthly installments by Tenant on the respective Rent Payment Dates specified therefor, and any suit brought to collect said amounts for any month or months shall not prejudice in any way the rights of Landlord to collect the deficiency in any subsequent month by a similar action or proceeding; and/or (v) at the option of Landlord exercised at any time, Landlord forthwith shall be entitled to recover from Tenant as liquidated damages, in addition to clause (i), but in lieu of and not in addition to any amount which would thereafter have become payable under the preceding clauses (ii), (iii) and (iv), whichever of the following sums Landlord shall elect:
(A) an amount equal to the excess, if any, of the Termination Value of a Leased Property computed as of the Termination Date over the present value of the Fair Market Rental Value of such Leased Property for the balance of the useful life of such Leased Property, such Fair Market Rental Value to be determined by mutual agreement of Landlord and Tenant, or if they cannot agree within ten (1030) days of such notice, by receipt of an invoice from the appraisal procedure set forth in Paragraph (e) of Article 4 above, but without regard to any limitations imposed with respect to Maximum Renewal Term Rent or Aggregate FMRV Rent;
(B) if a Leased Property has not been sold, an amount equal to the excess, if any, of the Termination Value of such Leased Property, computed as of the Termination Date, over the Fair Market Purchase Value of such Leased Property as of the Final Payment Date, such Fair Market Purchase Value to be determined by mutual agreement of Landlord and Tenant, or if they cannot agree within ten (10) days after such notice, by the appraisal procedure set forth in Paragraph (e) of Article 4 above, but without regard to any limitations imposed with respect to Maximum Renewal Term Rent or Aggregate FMRV Rent; or
(C) the Termination Value of a Leased Property computed as of the Termination Date, provided that upon payment of such amount and the amount of any unpaid Rent referred to in clause (i) of this Article 23(c)(C), Landlord shall assign and convey such Leased Property to Tenant, without further consideration, in accordance with the terms and provisions of Article 17 hereof. Landlord, at Landlord’s option, may make such alterations and/or decorations in the Leased Property as Landlord, in Landlord’s sole judgment, considers advisable and necessary for the purpose of reletting the Leased Property; and the making of such alterations and/or decorations shall not operate or be construed to release Tenant from liability hereunder as aforesaid.
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