Common use of Remedies for Default Clause in Contracts

Remedies for Default. In case of default as described in Section 6 of this lease, Lessor shall have the right to the following remedies which are intended to be cumulative and in addition to any other remedies provided under applicable law: (a) Lessor may at its option terminate the lease by notice to Lessee. With or without termination, Lessor may retake possession of the Slip by towing or removing any boats, watercraft, or other items at the Dock and may use or relet the Slip without accepting a surrender or waiving the right to damages. Following such retaking of possession, efforts by the Lessor to relet the Slip shall be sufficient if Lessor follows its usual procedures for finding lessees for the Slip at rates not less than the current rates for other comparable Slips at the Dock. If Lessor has other vacant slip(s) at the Dock, prospective Lessees may be placed in such other slip without prejudice to Lessor's claim to damages or loss of rentals from Lessee. (b) Lessor may recover all damages caused by Lessee's default which shall include an amount equal to rentals lost because of the default. Lessor may ▇▇▇ periodically to recover damages as they occur throughout the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable to the remaining term of the lease. Such damages shall be measured by the difference between the rent under this lease and the reasonable rental value of the Slip for the remainder of the term, discounted to the time of judgment at the prevailing interest on judgments. (c) Lessor may make any payment or perform any obligation which Lessee has failed to perform in which case Lessor shall be entitled to recover from Lessee upon demand all amounts so expended, plus interest from the date of the expenditure at the rate of one-and-one half percent per month. Any such payment or performance by Lessor shall not waive Lessee's default.

Appears in 3 contracts

Sources: Marina Boat Slip Lease, Marina Boat Slip Lease, Marina Boat Slip Lease

Remedies for Default. In case A. Upon the happening of any event of default as described in Section 6 of this leasehereinabove described, Lessor Landlord shall have the right to the following remedies which are intended to be cumulative right, at its election, then or at any time thereafter and in addition to while any other remedies provided under applicable lawsuch event of default shall continue, either: (a1) Lessor may at its option To give Tenant written notice of intention to terminate this Lease on the lease by date of giving notice or on any later date specified therein, whereupon Tenant's right to Lessee. With or without termination, Lessor may retake possession of the Slip by towing Premises shall cease and this Lease shall be terminated, except as to Tenant's liability, as if the expiration of the term fixed in such notice were the end of the term herein originally demised; or (2) To re-enter and take possession of the Premises and repossess the same as of Landlord's former estate, and expel Tenant and those claiming through or removing under Tenant, and remove the effects of both, and without prejudice to any boats, watercraftremedies for arrears of Rent. Should Landlord elect to re-enter as provided in this subparagraph (2), or other items at the Dock and may should Landlord take possession pursuant to legal proceedings or pursuant to any notice provided for by law, Landlord shall without terminating this Lease, use or relet the Slip without accepting a surrender or waiving the right to damages. Following such retaking of possession, reasonable efforts by the Lessor to relet the Slip Premises in Landlord's or Tenant's name, but for the account of Tenant, for such term or terms (which may B. In the event that Landlord does not elect to terminate this Lease and elects to take possession as provided in subparagraph A(2) hereof, Tenant shall pay to Landlord (i) the Rent and other sums as herein provided, which would be payable hereunder if such repossession had not occurred, less (ii) the net proceeds, if any, of any reletting of the Premises after deducting Landlord's reasonable expenses in connection with such reletting, including, but without limitation, all repossession costs, brokerage commissions, reasonable attorneys' fees, alteration and repair costs and expenses of preparation for such reletting. If, in connection with any reletting, the new lease term extends beyond the existing term, or the Premises covered thereby include other premises not part of the Premises, a fair apportionment of the Rent received from such reletting and the expenses incurred in connection therewith will be made in determining the net proceeds from such reletting. Any Rent concessions will be apportioned over the term of the new lease. Tenant shall pay such Rent and other sums to Landlord monthly on the days on which the Rent would have been payable hereunder if possession had not been retaken, and Landlord shall be sufficient if Lessor follows its usual procedures for finding lessees for entitled to receive the Slip at rates not less than the current rates for other comparable Slips at the Dock. If Lessor has other vacant slip(s) at the Dock, prospective Lessees may be placed in same from Tenant on each such other slip without prejudice to Lessor's claim to damages or loss of rentals from Lesseeday. (bC. In the event that this Lease is terminated as a result of an uncured default by Tenant, as permitted in subparagraph A(1) Lessor may recover all hereof, Tenant shall remain liable to Landlord for damages caused by Lessee's default which shall include in an amount equal to rentals lost because the Rent and other sums which would have been owed by Tenant hereunder for the balance of the term had this Lease not been terminated, less the net proceeds, if any, of any reletting of the Premises by Landlord subsequent to such termination, after deducting all Landlord's expenses in connection with such reletting, including, but without limitation, the expenses enumerated above. Landlord shall be entitled to collect such damages from Tenant monthly on the days on which the Rent and other amounts would have been payable hereunder if this Lease had not been terminated, and Landlord shall be entitled to receive the same from Tenant on each such day. Landlord agrees to use good faith efforts to mitigate its damages in the event of Tenant's default. Lessor may ▇▇▇ periodically to recover damages as they occur throughout the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable to the remaining term of the lease. Such damages shall be measured by the difference between the rent under this lease and the reasonable rental value of the Slip for the remainder of the termAlternatively, discounted to the time of judgment at the prevailing interest on judgments. (c) Lessor may make any payment or perform any obligation which Lessee has failed to perform in which case Lessor option of Landlord, Landlord shall be entitled to recover forthwith against Tenant, as damages for the loss of the bargain and not as a penalty, an aggregate sum which, at the time of such termination of this Lease, represents the amount, if any, by which the aggregate of the Rent and all other sums payable by Tenant hereunder which would have accrued for the balance of the term exceeds the aggregate rental value of the Premises (such rental value to be computed on the basis of a tenant paying not only Rent, but also such other charges as are required to be paid by Tenant under the terms of this Lease) for the balance of such term, both discounted to present worth at the Federal Reserve discount rate plus one percent (1%). D. Suit or suits for the recovery of the amounts and damages set forth herein may be brought by Landlord, from Lessee upon demand all amounts so expendedtime to time, plus interest from at Landlord's election; and nothing herein shall be deemed to require Landlord to await the date that this Lease or the term hereof would have expired had there been no such default by Tenant, or no such termination, as the case may be. Each right and remedy provided for in this Lease shall be cumulative and shall be in addition to every other right or remedy provided for in this Lease or now or hereafter existing at law or in equity or by statute or otherwise, including, but not limited to, suits for injunctive relief and specific performance. The exercise or beginning of the expenditure exercise by Landlord of any one or more of the rights or remedies provided for in this Lease as now or hereafter existing at law or in equity or by statute or otherwise shall not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies E. No failure by Landlord to insist upon the strict performance of any agreement, term, covenant or condition hereof or to exercise any right or remedy consequent upon a breach thereof, and no acceptance of full or partial Rent during the continuance of any such breach, shall constitute a waiver of any such breach or any such agreement, term, covenant or condition. No agreement, term, covenant or condition hereof to be performed or complied with by Tenant, and no breach thereof, shall be waived, altered or modified except by written instrument executed by Landlord. No waiver of any breach shall affect or alter this Lease; but each and every agreement, term, covenant and condition hereof shall continue in full force and effect with respect to any other then existing or subsequent breach. Notwithstanding any termination of this Lease, the same shall continue in full force and effect as to any provisions hereof which require observance or performance by Landlord or Tenant subsequent to termination. (1) Nothing contained in this Paragraph 17 shall limit or prejudice the right of Landlord to prove and obtain as liquidated damages in any bankruptcy, insolvency, receivership, reorganization or dissolution proceeding an amount equal to the maximum allowed by any statute or rule of law governing such proceeding and in effect at the time when such damages are to be proved. (2) Notwithstanding anything in this Paragraph 17 to the contrary, any such proceeding or action involving bankruptcy, insolvency, reorganization, arrangement, assignment for the benefit of creditors, or appointment of a receiver or trustee, as specified in subparagraphs 16D and 16E above, shall be considered to be an event of default only when such proceeding, action or remedy shall be taken or brought by or against the then holder of the leasehold estate under this Lease. F. Any rents or other amounts owing hereunder which are not paid within 30 days after they are due shall bear interest at the rate of one-and-one half percent 10% per month. Any annum from the 31st day after the due date of such payment until received by Landlord. Similarly, any amounts paid by Landlord to cure any defaults of Tenant hereunder, which Landlord shall have the right, but not the obligation to do, shall, if not repaid by Tenant within 30 days after demand by Landlord, thereafter bear interest at the above rate until received by Landlord. G. Landlord hereby waives any statutory or common law rights it may have granting Landlord a lien or the right to foreclose on the personal property of Tenant and/or the tenant improvements installed in the Premises by Tenant. H. If Landlord is in default in the performance by Lessor shall of its obligations under this Lease and such default is not waive Lesseecured within 30 days after written notice thereof, Tenant may at its option upon 10 days' prior written notice to Landlord terminate this Lease, or may incur any expense and deduct the monies owed from Rent and any other amounts due under this Lease. Landlord's defaultperformance of each and every one of its conditions, covenants and agreements in this Lease is a condition precedent to Landlord's right to enforce this Lease.

Appears in 3 contracts

Sources: Lease Agreement (Rentx Industries Inc), Lease Agreement (Rentx Industries Inc), Lease Agreement (Rentx Industries Inc)

Remedies for Default. In case of default as described in Section 6 of this lease, Lessor shall have the right to the following remedies which are intended to be cumulative and in addition to any other remedies provided under applicable law: (a) Lessor may at its option terminate the lease by notice to Lessee. With or without terminationIf Purchaser shall default under this Agreement, Lessor may retake possession of the Slip by towing or removing any boatsand such default is not cured in accordance with Section 12(c) below, watercraft, or other items at the Dock and may use or relet the Slip without accepting a surrender or waiving the right to damages. Following such retaking of possession, efforts by the Lessor to relet the Slip then Sellers shall be sufficient if Lessor follows its usual procedures for finding lessees for entitled, as their sole and exclusive remedy, to terminate this Agreement and receive and retain the Slip at rates not less than the current rates for other comparable Slips at the Dock▇▇▇▇▇▇▇ Money. If Lessor has other vacant slip(s) at the DockIF SELLERS TERMINATE THIS AGREEMENT PURSUANT TO THIS SECTION 12(A), prospective Lessees may be placed in such other slip without prejudice to Lessor's claim to damages or loss of rentals from LesseePURCHASER AND SELLERS AGREE THAT SELLERS' ACTUAL DAMAGES WOULD BE IMPRACTICABLE OR EXTREMELY DIFFICULT TO FIX OR ASCERTAIN. THE PARTIES THEREFORE AGREE THAT, IN SUCH EVENT, SELLERS, AS SELLERS' SOLE AND EXCLUSIVE REMEDY, ARE ENTITLED TO LIQUIDATED DAMAGES IN THE AMOUNT OF THE ▇▇▇▇▇▇▇ MONEY, AND, FOLLOWING SUCH TERMINATION, NEITHER PARTY SHALL HAVE ANY FURTHER OBLIGATION OR LIABILITY UNDER THIS AGREEMENT EXCEPT FOR SURVIVING OBLIGATIONS. (b) Lessor may recover If any Seller shall default under this Agreement and such default is not cured in accordance with Section 12(c) below, then Purchaser may, as its sole and exclusive remedy, either elect to: (i) terminate this Agreement, with respect to either the particular Property or Properties affected by the default or all damages caused by Lessee's default which shall include an amount equal to rentals lost because of the default. Lessor may Properties, in which event (A) all of the ▇▇▇▇▇▇▇ periodically Money shall be refunded to recover damages as they occur throughout the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action Purchaser if Purchaser elects to recover accrued damages plus damages attributable terminate with respect to the remaining term all of the leaseProperties or (B) the terms and conditions of Section 16 shall apply if Purchaser elects to terminate with respect to only the affected Property or Properties; or (ii) bring one or more actions for specific performance of this Agreement. Such damages shall be measured Notwithstanding the foregoing, if Purchaser elects option (i), Sellers shall, promptly upon written demand, reimburse Purchaser for Purchaser's actual out-of-pocket costs and expenses (including reasonable attorneys' fees, costs and disbursements) related the transactions contemplated by this Agreement (including, without limitation, the negotiation of this Agreement and Purchaser's due diligence), up to a maximum of $125,000 (multiplied by the difference between the rent under this lease and the reasonable rental value number of the Slip Properties for the remainder of the term, discounted to the time of judgment at the prevailing interest on judgmentswhich Purchaser's termination applies). (c) Lessor may make Subject to Section 12(b) above, prior to the exercise of any payment remedy set forth in this Agreement by any Seller or perform any obligation which Lessee Purchaser due to a default by the other party or the termination right of either party set forth in Section 5, the non-defaulting party (or the party benefiting from the applicable condition that has failed) shall give the other party written notice specifying such default (or failed condition) and a five (5) day opportunity to perform in which case Lessor cure such default (or failed condition) (with such notice and cure period automatically extending the Closing Date) hereunder. (d) If either party shall be entitled to recover from Lessee upon demand all amounts so expended, plus interest from the date pursue an action for monetary damages due to a default or breach under this Agreement or under any of the expenditure at instruments of conveyance delivered pursuant to Section 6 of this Agreement, such action shall be limited to a claim for actual damages attributable to the rate of one-and-one half percent per month. Any default or breach and Sellers and Purchaser each waive any right to seek consequential, special or punitive damages in any such payment or performance by Lessor shall not waive Lessee's defaultaction.

Appears in 2 contracts

Sources: Real Estate Purchase and Sale Agreement (Ares Real Estate Income Trust Inc.), Real Estate Purchase and Sale Agreement (Ares Real Estate Income Trust Inc.)

Remedies for Default. In case of default as described in Section 6 of this lease, Lessor shall have the right to the following remedies remedies, which are intended to be cumulative and in addition to any other remedies provided under applicable law: (a) Lessor may may, at its option option, terminate the lease by notice to Lessee. With or without termination, Lessor may retake possession of the Slip by towing or removing any boats, watercraft, or other items at the Dock and may use or relet the Slip without accepting a surrender or waiving the right to damages. Following such retaking of possession, efforts by the Lessor to relet the Slip shall be sufficient if Lessor follows its usual procedures for finding lessees for the Slip at rates not less than the current rates for other comparable Slips at the Dock. If Lessor has other vacant slip(s) at the Dock, prospective Lessees may be placed in such other slip without prejudice to Lessor▇▇▇▇▇▇'s claim to damages or loss of rentals from Lessee. (b) Lessor may recover all damages caused by Lessee's default which shall include an amount equal to rentals lost because of the default. Lessor may ▇▇▇ sue periodically to recover damages as they occur throughout the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable to the remaining term of the lease. Such damages shall be measured by the difference between the rent under this lease and the reasonable rental value of the Slip for the remainder of the term, discounted to the time of judgment at the prevailing interest on judgments. (c) Lessor may make any payment or perform any obligation which Lessee ▇▇▇▇▇▇ has failed to perform perform, in which case Lessor shall be entitled to recover from Lessee upon demand all amounts so expended, plus interest from the date of the expenditure at the rate of one-and-one one-half percent per month. Any such payment or performance by Lessor shall not waive Lessee's default.

Appears in 2 contracts

Sources: Lease Agreement, Lease Agreement

Remedies for Default. In case Should the Tenant violate any of default as described in Section 6 the covenants, terms and conditions of this leaseRental Agreement, Lessor (other than a breach that materially affects health and safety or the requirement to pay rent as provided in the Rental Agreement), or should there be any misstatement or untruth in the application made by the Tenant, the Landlord shall have the right option to deliver written notice to Tenant specifying the following remedies which acts or omissions constituting the breach of the Rental Agreement and declaring that the Rental Agreement will terminate upon a date not less than seven (7) business days. If the breach is not remedied within seven (7) business days the Rental Agreement will terminate on the date specified in the notice. It is further acknowledged and agreed by Tenant that a breach of the Rental Agreement that is based upon an illegal or immoral act or incidences of disturbing neighbors on more than two (2) occasions within a six (6) month period due to excessive loud noise, cannot be cured or remedied by Tenant, and thus, Tenant can not stop the termination of the Rental Agreement or eviction by remedying or curing the default. It is further acknowledged and agreed by ▇▇▇▇▇▇ that some other breaches of the Rental Agreement by the very nature of the breach, can not be cured or remedied by Tenant, and thus, Tenant cannot stop the termination of the Rental Agreement or eviction by remedying or curing the default. RULES & REGULATIONS: The Tenant(s) understands that this lease may be subject to additional Rules & Regulations as implemented by the Landlord. In the event that such are intended implemented by the Landlord, the Landlord will provide a written copy of any and all such Rules & Regulations to be cumulative and in addition to any other remedies provided under applicable law: (a) Lessor may at its option terminate the lease by notice to Lesseefollowed for these premises. With or without termination, Lessor may retake possession of the Slip by towing or removing any boats, watercraft, or other items at the Dock and may use or relet the Slip without accepting a surrender or waiving We reserve the right to damagescancel this lease by giving thirty OUTSIDE FURNITURE OR ITEMS. Following such retaking Do not use furniture or appliances that are not manufactured for outdoor use on the outside of possessionyour house or apartment. Tuscaloosa City Code of Ordinances, efforts by the Lessor to relet the Slip Sec. 13-67.2: It shall be sufficient if Lessor follows its usual procedures unlawful for finding lessees for any person residing in or having charge or control of any dwelling within the Slip at rates not less than the current rates for other comparable Slips at the Dock. If Lessor has other vacant slip(s) at the Dock, prospective Lessees may be placed City of Tuscaloosa to leave or permit to remain outside of any such dwelling any household appliances or household further in such other slip without prejudice to Lessor's claim to damages or loss of rentals from Lessee. (b) Lessor may recover all damages caused by Lessee's default which shall include an amount equal to rentals lost because of a manner that the default. Lessor may ▇▇▇ periodically to recover damages as they occur throughout the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable same are exposed to the remaining term of the lease. Such damages shall be measured by the difference between the rent under this lease and the reasonable rental value of the Slip for the remainder of the term, discounted to the time of judgment at the prevailing interest on judgmentselements. (c) Lessor may make any payment or perform any obligation which Lessee has failed to perform in which case Lessor shall be entitled to recover from Lessee upon demand all amounts so expended, plus interest from the date of the expenditure at the rate of one-and-one half percent per month. Any such payment or performance by Lessor shall not waive Lessee's default.

Appears in 2 contracts

Sources: Residential Lease, Residential Lease

Remedies for Default. In case A. Upon the happening of any event of default as described in Section 6 of this leasehereinabove described, Lessor Landlord shall have the right to the following remedies which are intended to be cumulative right, at its election, then or at any time thereafter and in addition to while any other remedies provided under applicable lawsuch event of default shall continue, either: (a1) Lessor may at its option To give Tenant written notice of intention to terminate this Lease on the lease by date of giving notice or on any later date specified therein, whereupon Tenant's right to Lessee. With or without termination, Lessor may retake possession of the Slip by towing Premises shall cease and this Lease shall be terminated, except as to Tenant's liability, as if the expiration of the term fixed in such notice were the end of the term herein originally demised; or (2) To re-enter and take possession of the Premises and repossess the same as of Landlord's former estate, and expel Tenant and those claiming through or removing under Tenant, and remove the effects of both, and without prejudice to any boats, watercraftremedies for arrears of Rent. Should Landlord elect to re-enter as provided in this subparagraph (2), or other items at the Dock and may should Landlord take possession pursuant to legal proceedings or pursuant to any notice provided for by law, Landlord shall without terminating this Lease, use or relet the Slip without accepting a surrender or waiving the right to damages. Following such retaking of possession, reasonable efforts by the Lessor to relet the Slip shall be sufficient if Lessor follows its usual procedures for finding lessees Premises in Landlord's or Tenant's name, but for the Slip at rates not account of Tenant, for such term or terms (which may be greater or less than the current rates period which would otherwise have constituted the B. In the event that Landlord does not elect to terminate this Lease and elects to take possession as provided in subparagraph A(2) hereof, Tenant shall pay to Landlord (i) the Rent and other sums as herein provided, which would be payable hereunder if such repossession had not occurred, less (ii) the net proceeds, if any, of any reletting of the Premises after deducting Landlord's reasonable expenses in connection with such reletting, including, but without limitation, all repossession costs, brokerage commissions, reasonable attorneys' fees, alteration and repair costs and expenses of preparation for such reletting. If, in connection with any reletting, the new lease term extends beyond the existing term, or the Premises covered thereby include other comparable Slips at premises not part of the DockPremises, a fair apportionment of the Rent received from such reletting and the expenses incurred in connection therewith will be made in determining the net proceeds from such reletting. If Lessor has Any Rent concessions will be apportioned over the term of the new lease. Tenant shall pay such Rent and other vacant slip(s) at sums to Landlord monthly on the Dockdays on which the Rent would have been payable hereunder if possession had not been retaken, prospective Lessees may and Landlord shall be placed in entitled to receive the same from Tenant on each such other slip without prejudice to Lessor's claim to damages or loss of rentals from Lesseeday. (bC. In the event that this Lease is terminated as a result of an uncured default by Tenant, as permitted in subparagraph A(1) Lessor may recover all hereof, Tenant shall remain liable to Landlord for damages caused by Lessee's default which shall include in an amount equal to rentals lost because the Rent and other sums which would have been owed by Tenant hereunder for the balance of the term had this Lease not been terminated, less the net proceeds, if any, of any reletting of the Premises by Landlord subsequent to such termination, after deducting all Landlord's expenses in connection with such reletting, including, but without limitation, the expenses enumerated above. Landlord shall be entitled to collect such damages from Tenant monthly on the days on which the Rent and other amounts would have been payable hereunder if this Lease had not been terminated, and Landlord shall be entitled to receive the same from Tenant on each such day. Landlord agrees to use good faith efforts to mitigate its damages in the event of Tenant's default. Lessor may ▇▇▇ periodically to recover damages as they occur throughout the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable to the remaining term of the lease. Such damages shall be measured by the difference between the rent under this lease and the reasonable rental value of the Slip for the remainder of the termAlternatively, discounted to the time of judgment at the prevailing interest on judgments. (c) Lessor may make any payment or perform any obligation which Lessee has failed to perform in which case Lessor option of Landlord, Landlord shall be entitled to recover forthwith against Tenant, as damages for the loss of the bargain and not as a penalty, an aggregate sum which, at the time of such termination of this Lease, represents the amount, if any, by which the aggregate of the Rent and all other sums payable by Tenant hereunder which would have accrued for the balance of the term exceeds the aggregate rental value of the Premises (such rental value to be computed on the basis of a tenant D. Suit or suits for the recovery of the amounts and damages set forth herein may be brought by Landlord, from Lessee upon demand time to time, at Landlord's election; and nothing herein shall be deemed to require Landlord to await the date that this Lease or the term hereof would have expired had there been no such default by Tenant, or no such termination, as the case may be. Each right and remedy provided for in this Lease shall be cumulative and shall be in addition to every other right or remedy provided for in this Lease or now or hereafter existing at law or in equity or by statute or otherwise, including, but not limited to, suits for injunctive relief and specific performance. The exercise or beginning of the exercise by Landlord of any one or more of the rights or remedies provided for in this Lease as now or hereafter existing at law or in equity or by statute or otherwise shall not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies provided for in this Lease as now or hereafter existing at law or in equity or by statute or otherwise. All costs incurred by Landlord in connection with collecting any amounts so expendedand damages owed by Tenant pursuant to the provisions of this Lease, plus interest including reasonable attorneys' fees from the date any such matter is turned over to an attorney, shall also be recoverable by Landlord from Tenant. E. No failure by Landlord to insist upon the strict performance of any agreement, term, covenant or condition hereof or to exercise any right or remedy consequent upon a breach thereof, and no acceptance of full or partial Rent during the expenditure continuance of any such breach, shall constitute a waiver of any such breach or any such agreement, term, covenant or condition. No agreement, term, covenant or condition hereof to be performed or complied with by Tenant, and no breach thereof, shall be waived, altered or modified except by written instrument executed by Landlord. No waiver of any breach shall affect or alter this Lease; but each and every agreement, term, covenant and condition hereof shall continue in full force and effect with respect to any other then existing or subsequent breach. Notwithstanding any termination of this Lease, the same shall continue in full force and effect as to any provisions hereof which require observance or performance by Landlord or Tenant subsequent to termination. (1) Nothing contained in this Paragraph 17 shall limit or prejudice the right of Landlord to prove and obtain as liquidated damages in any bankruptcy, insolvency, receivership, reorganization or dissolution proceeding an amount equal to the maximum allowed by any statute or rule of law governing such proceeding and in effect at the time when such damages are to be proved. (2) Notwithstanding anything in this Paragraph 17 to the contrary, any such proceeding or action involving bankruptcy, insolvency, reorganization, arrangement, assignment for the benefit of creditors, or appointment of a receiver or trustee, as F. Any rents or other amounts owing hereunder which are not paid within 30 days after they are due shall bear interest at the rate of one-and-one half percent 10% per month. Any annum from the 31st day after the due date of such payment until received by Landlord. Similarly, any amounts paid by Landlord to cure any defaults of Tenant hereunder, which Landlord shall have the right, but not the obligation to do, shall, if not repaid by Tenant within 30 days after demand by Landlord, thereafter bear interest at the above rate until received by Landlord. G. Landlord hereby waives any statutory or common law rights it may have granting Landlord a lien or the right to foreclose on the personal property of Tenant and/or the tenant improvements installed in the Premises by Tenant. H. If Landlord is in default in the performance by Lessor shall of its obligations under this Lease and such default is not waive Lesseecured within 30 days after written notice thereof, Tenant may at its option upon 10 days' prior written notice to Landlord terminate this Lease, or may incur any expense and deduct the monies owed from Rent and any other amounts due under this Lease. Landlord's defaultperformance of each and every one of its conditions, covenants and agreements in this Lease is a condition precedent to Landlord's right to enforce this Lease.

Appears in 2 contracts

Sources: Lease Agreement (Rentx Industries Inc), Lease Agreement (Rentx Industries Inc)

Remedies for Default. In case of For any default as described in Section 6 of this lease▇▇▇▇▇▇▇▇▇ ▇▇.▇, Lessor ▇▇▇▇▇▇▇▇ shall have the right to the following remedies which are intended to be cumulative and in addition to any other remedies provided under applicable law: (a) Lessor may at its option terminate the lease by notice 16.2.1. Terminate Tenant’s right to Lessee. With or without termination, Lessor may retake possession of the Slip Premises and Tenant’s rights under this Lease by towing written notice to Tenant without relieving Tenant from its obligation to pay damages. 16.2.2. Re-enter and take possession of the Premises and remove any persons or removing any boatsproperty by legal action or by self-help with the use of reasonable force and without liability for damages and without having accepted a surrender. Tenant’s liability to Landlord for damages shall survive the tenancy. Landlord may, watercraft, or other items at the Dock and may use or relet the Slip without accepting a surrender or waiving the right to damages. Following after such retaking of possession, efforts by the Lessor to relet the Slip Premises upon any reasonable terms. No such reletting shall be sufficient if Lessor follows its usual procedures for finding lessees for the Slip at rates not less than the current rates for other comparable Slips at the Dock. If Lessor has other vacant slip(s) at the Dock, prospective Lessees may be placed in such other slip without prejudice to Lessor's claim to damages or loss construed as an acceptance of rentals from Lesseea surrender of Tenant’s leasehold interest. (b) Lessor may recover all damages caused by Lessee's default which shall include an amount equal to rentals lost because of the default16.2.3. Lessor may ▇▇▇ periodically to recover damages as they occur throughout the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable Except to the remaining term extent otherwise provided by applicable law, in the event of the lease. Such damages shall be measured by the difference between the rent under this lease and the reasonable rental value termination or retaking of the Slip for the remainder of the termpossession following default, discounted to the time of judgment at the prevailing interest on judgments. (c) Lessor may make any payment or perform any obligation which Lessee has failed to perform in which case Lessor Landlord shall be entitled to recover from Lessee upon demand all immediately, without waiting until the due date of any future rent or until the date fixed for expiration of the Lease Term, the following amounts so expended, plus interest as damages: (i) The loss of rental from the date of default until a new tenant is secured and paying rent. (ii) The reasonable costs of reentry and reletting including without limitation the expenditure at cost of any cleanup, refurbishing, removal and disposal of Tenant’s property and fixtures, or any other reasonable expense occasioned by Tenant’s default including but not limited to restoration or repair costs, attorney fees, court costs, broker commissions, and marketing costs. Initialed DM and AG (iii) Any excess of the value of the rent and all of Tenant’s other obligations under this Lease over the reasonable expected return from the Premises for the period commencing on the earlier of the date of trial or the date the Premises are relet, and continuing through the end of the Lease Term. The present value of future amounts shall be computed using a discount rate equal to the prime loan rate in effect on the date of one-and-one half percent per month. Any such payment or performance trial of major national banks who are members of the Federal Reserve System, insured by Lessor shall not waive Lessee's defaultthe Federal Deposit Insurance Corporation and are located in the state in which the Premises is located.

Appears in 2 contracts

Sources: Office Lease Agreement, Office Lease (Lionbridge Technologies Inc /De/)

Remedies for Default. In case of For any default as described in Section 6 of this lease▇▇▇▇▇▇▇▇▇ ▇▇.▇, Lessor ▇▇▇▇▇▇▇▇ shall have the right to pursue any one (1) or more of the following remedies which are intended to be cumulative and in addition to all other rights or remedies provided herein or at law or in equity, without any notice or demand, except as set forth below, of any kind or nature whatsoever to Tenant or to any other remedies provided party liable, in whole or in part, for the performance of Tenant’s obligations under applicable lawthis Lease: (a) Lessor may at its option terminate the lease by notice 15.2.1. Terminate this Lease and/or Tenant’s right to Lessee. With or without termination, Lessor may retake possession of the Slip Premises and Tenant’s other rights under this Lease by towing written notice to Tenant without relieving Tenant from its obligation to pay damages. 15.2.2. Re-enter and take possession of the Premises and remove any persons or removing any boatsproperty by legal action without liability for damages and without having accepted a surrender. Tenant’s liability to Landlord for damages shall survive the tenancy. Landlord may, watercraft, or other items at the Dock and may use or relet the Slip without accepting a surrender or waiving the right to damages. Following after such retaking of possession, efforts by the Lessor to relet the Slip Premises upon any reasonable terms. No such reletting shall be sufficient if Lessor follows its usual procedures for finding lessees for the Slip at rates not less than the current rates for other comparable Slips at the Dock. If Lessor has other vacant slip(s) at the Dock, prospective Lessees may be placed in such other slip without prejudice to Lessor's claim to damages or loss construed as an acceptance of rentals from Lesseea surrender of Tenant’s leasehold interest. (b) Lessor may recover all damages caused by Lessee's default which shall include an amount equal to rentals lost because 15.2.3. In the event of the termination or retaking of possession following default. Lessor may ▇▇▇ periodically to recover damages as they occur throughout the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable to the remaining term of the lease. Such damages shall be measured by the difference between the rent under this lease and the reasonable rental value of the Slip for the remainder of the term, discounted to the time of judgment at the prevailing interest on judgments. (c) Lessor may make any payment or perform any obligation which Lessee has failed to perform in which case Lessor Landlord shall be entitled to recover from Lessee upon demand all immediately, without waiting until the due date of any future rent or until the date fixed for expiration of the Lease Term, the following amounts so expended, plus interest as damages: (i) The loss of rental from the date of default until a new tenant is secured and paying rent. (ii) The reasonable costs of reentry and reletting including without limitation the expenditure at cost of any cleanup, refurbishing, removal and disposal of Tenant’s property and fixtures, or any other expense occasioned by Tenant’s default including but not limited to remodeling or repair costs, attorney fees, court costs, broker commissions, and marketing costs. (iii) Any excess of the value of the rent and all of Tenant’s other obligations under this Lease over the reasonable expected return from the Premises for the period commencing on the earlier of the date of trial or the date the Premises are relet, and continuing through the end of the Lease Term. The present value of future amounts shall be computed using a discount rate equal to the prime loan rate in effect on the date of one-and-one half percent per month. Any such payment or performance trial of major national banks who are members of the Federal Reserve System, insured by Lessor shall not waive Lessee's defaultthe Federal Deposit Insurance Corporation and are located in the State in which the Premises are located.

Appears in 2 contracts

Sources: Lease (AbSci Corp), Lease (AbSci Corp)

Remedies for Default. In case the event of default Purchaser’s default, material breach or misrepresentation of any fact under the terms of the Agreement, Seller, at its option, may retain the ▇▇▇▇▇▇▇ money and any other funds paid by Purchaser as described liquidated damages and/or invoke any other remedy expressly set forth in Section 6 the Agreement (or allowed for by law) and Seller is automatically released from the obligation to sell the Property to Purchaser and neither Seller nor its representatives, agents, attorneys, successors or assigns shall be liable to Purchaser for any damages of any kind as a result of Seller’s failure to sell and convey the Property. Purchaser acknowledges and agrees that by signing this leaseaddendum, Lessor seller shall have the right to retain or seek the following remedies which are intended to be cumulative and in addition to any other remedies provided under applicable law: (a) Lessor may at its option terminate the lease by notice to Lessee. With or without termination, Lessor may retake possession release of the Slip by towing or removing any boats, watercraft, or other items at the Dock and may use or relet the Slip without accepting a surrender or waiving the right to damages. Following such retaking of possession, efforts by the Lessor to relet the Slip shall be sufficient if Lessor follows its usual procedures for finding lessees for the Slip at rates not less than the current rates for other comparable Slips at the Dock. If Lessor has other vacant slip(s) at the Dock, prospective Lessees may be placed in such other slip without prejudice to Lessor's claim to damages or loss of rentals from Lessee. (b) Lessor may recover all damages caused by Lessee's default which shall include an amount equal to rentals lost because of the default. Lessor may ▇▇▇▇▇▇▇ periodically money under this Section, without any further action, consent or document from purchaser. Seller’s agents, representatives, attorneys, closing offices and their successors and assigns are hereby authorized by Purchaser’s signature on this contract to recover damages as they occur throughout release the lease term ▇▇▇▇▇▇▇ money deposit or other such funds to Seller at Seller’s request without any further written authorization or notification. Purchaser shall hold harmless and no action indemnify such agents, attorneys, closing offices, and their successors or assigns for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable costs incurred whatsoever, relating to the remaining term disbursement of such funds, including court costs and actual attorney fees. Purchaser agrees that Seller shall not be liable to Purchaser for any special, consequential or punitive damages whatsoever, whether in contract, tort (including negligence and strict liability) or any other legal or equitable principle. Purchaser acknowledges that in the event of termination of the leaseAgreement, return of Purchaser’s ▇▇▇▇▇▇▇ Money can adequately and fairly compensate Purchaser. Such damages Upon return of the ▇▇▇▇▇▇▇ Money to Purchaser, the Agreement shall be measured by terminated, and Purchaser and Seller shall have no further liability, obligation, or responsibility to each other. Seller shall only be in default under the difference between Agreement if Purchaser delivers written notice to Seller detailing the rent default and Seller fails to cure such default within 20 days of receipt of such written notice (or such longer period of time as may be necessary, provided that Seller diligently pursues such cure). If Seller is in default hereunder or if Seller terminates the Agreement as provided under this lease and the reasonable rental value provisions of the Slip for the remainder of the termthereof, discounted to the time of judgment at the prevailing interest on judgments. (c) Lessor may make any payment or perform any obligation which Lessee has failed to perform in which case Lessor Purchaser shall be entitled to recover from Lessee upon demand all amounts so expended, plus interest from the date return of the expenditure ▇▇▇▇▇▇▇ Money as Purchaser’s sole and exclusive remedy at the rate of one-and-one half percent per month. Any such payment law or performance by Lessor shall not waive Lessee's defaultin equity.

Appears in 2 contracts

Sources: Real Estate Purchase Contract, Real Estate Purchase Contract

Remedies for Default. In case (i) Upon the occurrence of default as described in Section 6 any Event of this leaseDefault, Lessor shall have the right to the following remedies which are intended to be cumulative and in addition to any other remedies provided under applicable law: (a) Lessor may at its option terminate the lease Lender may, by notice to Lessee. With or without termination, Lessor may retake possession of the Slip by towing or removing any boats, watercraft, or other items at the Dock and may use or relet the Slip without accepting a surrender or waiving the right to damages. Following such retaking of possession, efforts by the Lessor to relet the Slip Borrower (which notice shall be sufficient if Lessor follows deemed given automatically upon occurrence of an Event of Default referred to in paragraph (v), (vi), (vii) or (viii) of Section 11), terminate its usual procedures for finding lessees for commitment to make any Loans hereunder, and declare immediately due and payable all principal, interest and other Obligations payable hereunder and under the Slip at rates not less than Note by Borrower then due and payable that would otherwise be due after the current rates for other comparable Slips at date specified in the Dock. If Lessor has other vacant slip(s) at notice (or the Dockdate such notice is deemed given), prospective Lessees may be placed in such other slip whereupon all those amounts shall become immediately due and payable, all without prejudice to Lessor's claim to damages further diligence, presentment, demand of payment, protest or loss notice of rentals from Lesseeany kind, all of which are expressly waived by Borrower. (bii) Lessor may recover all damages caused by Lessee's default which shall include an amount equal Without limitation to rentals lost because any of the defaultprovisions or remedies set forth in Section 12(a)(i), if any Event of Default shall have occurred and be continuing, Borrower may, with the prior written consent of Lender in Lender's sole discretion, (A) make a principal payment on the Loans in such amount as Lender shall specify or (B) pledge Additional Collateral having such value, as determined by Lender in its sole discretion, as Lender shall specify. Lessor may ▇▇▇ periodically If Lender so consents to recover damages Borrower's taking such action as they occur throughout is described in this Section 12(a)(ii) upon an Event of Default, Borrower shall remain liable for any remaining deficiency between the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable to the remaining term amount of the lease. Such damages shall be measured by the difference between the rent under this lease Obligations and the reasonable rental value amount of the Slip for the remainder principal payment or pledge of Additional Collateral made pursuant hereto, and under no circumstances shall Lender's consent to such action be construed as a waiver of such deficiency or a modification of the term, discounted to the time of judgment at the prevailing interest on judgmentsObligations. (ciii) Lessor may make In the event that Borrower shall hereinafter pledge any payment or perform any obligation which Lessee has failed Additional Collateral to perform Lender as specified in which case Lessor shall be entitled Section 12(a)(ii), Borrower shall, concurrently with such pledge, deliver to recover from Lessee upon demand all amounts so expendedLender an opinion of counsel in form and substance reasonably satisfactory to Lender regarding first priority, plus interest from perfection and the date absence of the expenditure at the rate Liens in respect of one-and-one half percent per month. Any such payment or performance by Lessor shall not waive Lessee's defaultAdditional Collateral.

Appears in 2 contracts

Sources: Master Residual Loan Agreement (Triad Financial Corp), Master Residual Loan Agreement (Triad Financial Corp)

Remedies for Default. In case A. Upon the occurrence of default any Default, Landlord may at its election terminate this Lease or terminate Tenant's right to possession only, without terminating the Lease. Upon termination of the Lease, or upon any termination of Tenant's right to possession without termination of the Lease, Tenant shall surrender possession and vacate the Premises immediately, and deliver possession thereof to Landlord, and hereby grants to Landlord the full and free right, without demand or notice of any kind to Tenant (except as described hereinabove expressly set forth), to enter into and upon the Premises, in Section 6 such event with or without process of law and to repossess the Premises as Landlord's former estate and to expel or remove Tenant and any others who may be occupying or within the Premises without being deemed in any manner guilty of trespass, eviction, or forcible entry or detainer, without incurring any liability for any damage resulting therefrom and without relinquishing Landlord's rights to Rent or any other right given to Landlord hereunder or by operation of law. Upon termination of this leaseLease, Lessor Landlord shall have be entitled to recover as damages all Rent and other sums due and payable by Tenant on the right to the following remedies which are intended to be cumulative and in addition to any other remedies provided under applicable law: date of termination, plus (a) Lessor may at its option terminate the lease by notice to Lessee. With or without termination, Lessor may retake possession of the Slip by towing or removing any boats, watercraft, or other items at the Dock and may use or relet the Slip without accepting a surrender or waiving the right to damages. Following such retaking of possession, efforts by the Lessor to relet the Slip shall be sufficient if Lessor follows its usual procedures for finding lessees for the Slip at rates not less than the current rates for other comparable Slips at the Dock. If Lessor has other vacant slip(s) at the Dock, prospective Lessees may be placed in such other slip without prejudice to Lessor's claim to damages or loss of rentals from Lessee. (b) Lessor may recover all damages caused by Lessee's default which shall include an amount equal to rentals lost because of the default. Lessor may ▇▇▇ periodically to recover damages as they occur throughout the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable to the remaining term of the lease. Such damages shall be measured by the difference between the rent under this lease and the reasonable rental value of the Slip Rent and other sums provided herein to be paid by Tenant for the remainder of the termTerm hereof, discounted less the fair rental value of the Premises for the remainder of the Term (taking into account the time and expenses necessary to obtain a replacement tenant or tenants, including expenses hereinafter described relating to recovery of the Premises, preparation for reletting and for reletting itself), and (b) the cost of performing any other covenants to be performed by Tenant. If Landlord elects to terminate Tenant's right to possession only without terminating the Lease, Landlord may, at Landlord's option, enter into the Premises, remove Tenant's signs and other evidences of tenancy, and take and hold possession thereof as hereinafter provided, without such entry and possession terminating the Lease or releasing Tenant, in whole or in part, from Tenant's obligations to pay the Rent and other sums provided herein to be paid by Tenant for the full term or from any other of its obligations under this Lease. Landlord may relet all or any part of the Premises for such Rent and upon such terms as shall be satisfactory to Landlord (including the right to relet the Premises as a part of a larger area, and the right to change the character or use made of the Premises). For the purpose of such reletting, Landlord may decorate or make any repairs, changes, alterations or additions in or to the Premises that may be necessary or convenient. If Landlord does not relet the Premises, Tenant shall pay to Landlord on demand damages equal to the amount of the Rent, and other sums provided herein to be paid by Tenant for the remainder of the Lease Term. If the Premises are relet and a sufficient sum shall not be realized from such reletting after paying all of the expenses of such decorations, repairs, changes, alterations, additions, the expenses of such reletting and the collection of the Rent accruing therefrom (including, but not by way of limitation, attorneys' fees and brokers' commission), to satisfy the Rent and other sums herein provided to be paid for the remainder of the Lease Term, Tenant shall pay to Landlord on demand any deficiency and Tenant agrees that Landlord may file suit to recover any Rent or other sums falling due under the terms of this Section from time to time. Landlord shall use reasonable efforts to mitigate its damages arising out of judgment Tenant's default; Landlord shall not be deemed to have failed to use such reasonable efforts by reason of the fact that Landlord has leased or sought to lease other vacant premises owned by Landlord in preference to reletting the Premises, or by reason of the fact that Landlord has sought to relet the Premises at a rental rate higher than that payable by Tenant under the Lease (but not in excess of the then current market rental rate). B. After giving Tenant at least ten (10) days' written notice of its intent to do so, Landlord may, but shall not be obligated to, cure any default by Tenant (specifically including, but not by way of limitation, Tenant's failure to obtain insurance, make repairs, or satisfy lien claims); and whenever Landlord so elects, all costs and expenses paid by Landlord in curing such default, including without limitation reasonable attorneys' fees, shall be so much additional rent due on the next rent date after such payment together with interest (except in the case of said attorneys' fees) at the prevailing interest on judgmentsDefault Rate. (c) Lessor may make any payment C. No remedy herein or perform any obligation which Lessee has failed otherwise conferred upon or reserved to perform in which case Lessor Landlord shall be entitled considered to recover exclude or suspend any other remedy but the same shall be cumulative and shall be in addition to every other remedy given hereunder, or now or hereafter existing at law or in equity or by statute, and every power and remedy given by this Lease to Landlord may be exercised from Lessee upon demand all amounts time to time and so expended, plus interest from the date of the expenditure at the rate of one-and-one half percent per month. Any such payment often as occasion may arise or performance by Lessor shall not waive Lesseeas may be deemed expedient in Landlord's defaultsole discretion.

Appears in 1 contract

Sources: Commercial Lease Agreement (Cargo Connection Logistics Holding, Inc.)

Remedies for Default. In case A. Upon the happening of any event of default as described in Section 6 of this leasehereinabove described, Lessor Landlord shall have the right to the following remedies which are intended to be cumulative right, at its election, then or at any time thereafter and in addition to while any other remedies provided under applicable lawsuch event of default shall continue, either: (a1) Lessor may at its option To give Tenant written notice of intention to terminate this Lease on the lease by date of giving notice or on any later date specified therein, whereupon Tenant's right to Lessee. With or without termination, Lessor may retake possession of the Slip by towing Premises shall cease and this Lease shall be terminated, except as to Tenant's liability, as if the expiration of the term fixed in such notice were the end of the term herein originally demised; or (2) To re-enter and take possession of the Premises and repossess the same as of Landlord's former estate, and expel Tenant and those claiming through or removing under Tenant, and remove the effects of both, without being liable for prosecution therefor, without being deemed guilty of any boatsmanner of trespass, watercraftand without prejudice to any remedies for arrears of Rent or preceding breach of covenants or conditions. Should Landlord elect to re-enter as provided in this subparagraph (2), or other items at the Dock and may should Landlord take possession pursuant to legal proceedings or pursuant to any notice provided for by law, Landlord shall without terminating this Lease, use or relet the Slip without accepting a surrender or waiving the right to damages. Following such retaking of possession, reasonable efforts by the Lessor to relet the Slip shall be sufficient if Lessor follows its usual procedures for finding lessees Premises in Landlord's or Tenant's name, but for the Slip at rates not account of Tenant, for such term or terms (which may be greater or less than the current rates for other comparable Slips at period which would otherwise have constituted the Dock. If Lessor has other vacant slip(sbalance of the term of this Lease) at the Dock, prospective Lessees may be placed in and on such conditions and upon such other slip without prejudice to Lessor's claim to damages or loss of rentals from Lessee. (b) Lessor terms as Landlord may recover all damages caused by Lessee's default which shall include an amount equal to rentals lost because of reasonably determine, and Landlord may collect and receive the defaultrents therefore. Lessor may ▇▇▇ periodically to recover damages as they occur throughout the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable to the remaining term of the lease. Such damages shall be measured by the difference between the rent under this lease and the reasonable rental value of the Slip for the remainder of the term, discounted to the time of judgment at the prevailing interest on judgments. (c) Lessor may make any payment or perform any obligation which Lessee has failed to perform in which case Lessor Landlord shall be entitled to recover from Lessee upon demand keep, without obligation to Tenant, all amounts so expended, plus interest from the date of the expenditure proceeds and rent paid as a result of reletting, regardless of any excess rent or proceeds received. Landlord shall in no way be responsible or liable for any failure to relet the Premises after exercising good faith efforts therefor, but shall make every reasonable effort to mitigate its damages. No such re-entry or taking possession of the Premises by Landlord shall be construed as an election on Landlord's part to terminate this Lease unless a written notice of such intention is given to Tenant. No notice from Landlord hereunder or under a forcible entry and detainer statute or similar law shall constitute an election by Landlord to terminate this Lease unless such notice specifically so states. Landlord reserves the right following any such re-entry or reletting to exercise its right to terminate this Lease by giving Tenant written notice to that effect, in which event the Lease will terminate as specified in said notice; or (3) Without resuming possession of the Premises or terminating this Lease, sue ▇▇▇thly for and recover all rents, other required payments due under this Lease, and all other sums including damages and legal fees owing hereunder which may accrue at any time and from time to time. B. In the rate event that Landlord does not elect to terminate this Lease as permitted in subparagraph A(1) of one-and-one half percent per monththis Paragraph, but on the contrary, elects to take possession as provided in subparagraph A(2) hereof, Tenant shall pay to Landlord (i) the Rent and other sums as herein provided, which would be payable hereunder if such repossession had not occurred, less (ii) the net proceeds, if any, of any reletting of the Premises after deducting Landlord's reasonable expenses in connection with such reletting, including, but without limitation, all repossession costs, brokerage commissions, reasonable attorneys' fees, court costs, expenses of employees, alteration and repair costs and expenses or preparation for such reletting. Landlord shall be entitled to keep, without obligation to Tenant, all of the proceeds and rent paid as a result of reletting, regardless of any excess rent or proceeds received. If, in connection with any relating, the new lease term extends beyond the existing term, or the Premises covered thereby include other premises not part of the Premises, a fair apportionment of the Rent received from such reletting and the expenses incurred in connection therewith will be made in determining the net proceeds from such reletting. Any Rent concessions will be apportioned over the term of the new lease. Tenant shall pay such payment or performance by Lessor shall not waive Lessee's default.Rent and other sums to Landlord monthly on the days on which the

Appears in 1 contract

Sources: Office Lease Agreement (Pentastar Communications Inc)

Remedies for Default. In case Tenant further covenants that: If said premises at any time be deserted, abandoned, or closed, or if Tenant defaults for a period of default as described five (5) days in Section 6 paying any installment of rent when due or in performing any covenant, provision, or condition herein contained binding upon Tenant, Landlord shall have, in addition to all other rights and remedies provided for by law, the right, without notice to Tenant, to enter and take possession of the premises, peaceably or by force, and to terminate this lease; and Landlord may relet said premises, Lessor in whole or in part, in one or more leases, for the unexpired portion of the term, or any part thereof, and receive the rent therefor and apply it to the rent due hereunder, the rate and terms of such reletting to be such as Landlord may deem expedient, and Landlord's action shall be final and binding upon Tenant, and Tenant agrees to pay promptly to Landlord, on demand, at one time, or from time to time, any difference between the rent payable hereunder and any smaller amounts collected by Landlord from the Tenant or Tenants to whom said premises may be relet as aforesaid. In the event Tenant goes into bankruptcy, voluntary or involuntary, or into receivership, or makes a general assignment for the benefit of his creditors, Landlord shall have the right to terminate this lease at such time thereafter as Landlord may elect. If the following remedies holder of a mortgage or deed of trust on the shopping center, of which the demised premises are intended a part, notifies Tenant that such holder has taken over Landlord's rights under the lease agreement, Tenant shall not assert any right to deduct the cost of repairs or any momentary claim against Landlord from any compensation thereafter due and accruing hereunder, but shall look solely to the Landlord for satisfaction of such claim. After receiving written notice from a bank, trust company or insurance company that it holds a mortgage or deed of trust on the demised premises, the Tenant shall, so long as said mortgage or deed of trust is outstanding, be required to give to such holder the same notice and opportunity to correct any default on the part of the Landlord as it might be required to be cumulative and in addition given to any other remedies provided under applicable law: (a) Lessor may at its option terminate the lease by Landlord, but such notice to Lessee. With or without termination, Lessor may retake possession of the Slip by towing or removing any boats, watercraft, or other items at the Dock and may use or relet the Slip without accepting a surrender or waiving the right to damages. Following such retaking of possession, efforts by the Lessor to relet the Slip shall be sufficient if Lessor follows its usual procedures for finding lessees for the Slip at rates not less than the current rates for other comparable Slips at the Dock. If Lessor has other vacant slip(s) at the Dock, prospective Lessees may be placed in given by Tenant to Landlord and such other slip without prejudice to Lessor's claim to damages or loss of rentals from Lesseeholder concurrently. (b) Lessor may recover all damages caused by Lessee's default which shall include an amount equal to rentals lost because of the default. Lessor may ▇▇▇ periodically to recover damages as they occur throughout the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable to the remaining term of the lease. Such damages shall be measured by the difference between the rent under this lease and the reasonable rental value of the Slip for the remainder of the term, discounted to the time of judgment at the prevailing interest on judgments. (c) Lessor may make any payment or perform any obligation which Lessee has failed to perform in which case Lessor shall be entitled to recover from Lessee upon demand all amounts so expended, plus interest from the date of the expenditure at the rate of one-and-one half percent per month. Any such payment or performance by Lessor shall not waive Lessee's default.

Appears in 1 contract

Sources: Lease Agreement (American Community Properties Trust)

Remedies for Default. 24.1 In case the event of any default by Tenant pursuant to Paragraph 23 above, then in addition to any other remedies available to Landlord at law or in equity, Landlord shall have the immediate option to terminate this Lease and all rights of Tenant hereunder by giving written notice of such intention to terminate. In the event that Landlord shall elect to so terminate this Lease then Landlord may recover from Tenant: (a) The worth at the time of award of any unpaid rent which had been earned at the time of such termination; plus (b) The worth at the time of award of the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of such rental loss which Tenant proves reasonably could have been avoided; plus (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 such rental loss that Tenant proves reasonably could be avoided; plus (d) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including without limitation the unamortized balance of any tenant improvement allowance provided to Tenant by Landlord or of any tenant improvements constructed or paid for by Landlord at the commencement of the term hereof, which amount shall be deemed additional rent automatically due and payable hereunder upon the occurrence of an event of default by Tenant and shall be recoverable as rent in any unlawful detainer or other action arising out of or pertaining to such default, whether or not specified in any notice given by Landlord as a condition or prior to the commencement of any such action; and (e) At Landlord's election, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable California law. 24.2 As used in subparagraphs 24.1(a) and (b) above, the "worth at the time of award" is computed by allowing interest at the rate of ten percent (10%) per annum. As used in subparagraph 24.1(c) above, the "worth at the time of award" is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of the award plus one percent. 24.3 In the event of any such default by Tenant, Landlord shall also have the right, with or without terminating this Lease, to re-enter the Premises and remove all persons and property from the Premises; such property may be removed and stored in a public warehouse or elsewhere at the cost of and for the account of Tenant. 24.4 In the event of the vacation or abandonment of the Premises by Tenant or in the event that Landlord shall elect to re-enter as provided above or shall take possession of the Premises pursuant to legal proceedings or pursuant to any notice provided by law, then if Landlord does not elect to terminate this Lease as provided in this ▇▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ may from time to time, without terminating this Lease, either recover all rental as it becomes due or relet the Premises, or any part thereof, for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable, with the right to make alterations and repairs to the Premises. Election by Landlord to proceed pursuant to this subparagraph shall be made upon written notice to Tenant and shall be deemed an election of the remedy described in California Civil Code Section 6 of this lease1951.4 and, Lessor unless Landlord relets the Premises, Tenant shall have the right to sublet or assign subject to the following prior written consent of Landlord. Such consent shall not be unreasonably withheld and shall be subject to all of the terms and provisions of Paragraph 13. 24.5 In the event that Landlord shall elect to so relet, then rentals received by Landlord from such reletting shall be applied: first, to the payment of any indebtedness other than rent due hereunder from Tenant to Landlord; second, to the payment of any reasonable cost of such reletting; third, to the payment of the cost of any repairs to the Premises necessitated by Tenant's use; fourth, to the payment of rent due and unpaid hereunder; and the residue if any, shall be held by Landlord and applied in payment of future amounts as the same may become due and payable hereunder. Should the rent for such reletting, during any month for which the payment of rent is required hereunder, be less than the rent payable during that month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord immediately upon demand therefor by Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord as soon as ascertained, any reasonable costs and expenses incurred by Landlord in such reletting or in making such repairs not covered by the rentals received from such reletting. 24.6 No re-entry or taking possession of the Premises by Landlord pursuant to this Paragraph 24 shall be construed as an election to terminate this Lease unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding any reletting without termination by Landlord because of any default by Tenant, Landlord may at any time after such reletting elect to terminate this Lease for any such default. 24.7 In any action for unlawful detainer commenced by Landlord against Tenant by reason of any default hereunder, the reasonable rental value of the Premises for the period of the unlawful detainer shall be the amount of rent reserved in this Lease for such period. The rights and remedies which are intended reserved to Landlord herein, including those not specifically described, shall be cumulative and, except as otherwise provided by California statutory law in effect at the time, Landlord may pursue any or all of such rights and remedies, at the same time or otherwise. 24.8 All covenants and agreements to be cumulative performed by Tenant under this Lease shall be performed by Tenant at Tenant's sole cost and expense and without any abatement of rent. If Tenant fails to pay any sum of money, other than rent, required to be paid by it or fails to perform any other act on its part to be performed, and such failure continues beyond any applicable grace period set forth in the Paragraph providing for such obligation (or if no grace period is set forth in such Paragraph, then the applicable grace period pursuant to Paragraph 23), then in addition to any other remedies provided under applicable law: (a) Lessor may at its option terminate the lease by notice herein Landlord may, but shall not be obligated so to Lessee. With do, without waiving or without terminationreleasing Tenant from any obligations of Tenant, Lessor may retake possession of the Slip by towing or removing any boats, watercraft, or other items at the Dock and may use or relet the Slip without accepting a surrender or waiving the right to damages. Following such retaking of possession, efforts by the Lessor to relet the Slip shall be sufficient if Lessor follows its usual procedures for finding lessees for the Slip at rates not less than the current rates for other comparable Slips at the Dock. If Lessor has other vacant slip(s) at the Dock, prospective Lessees may be placed in such other slip without prejudice to Lessor's claim to damages or loss of rentals from Lessee. (b) Lessor may recover all damages caused by Lessee's default which shall include an amount equal to rentals lost because of the default. Lessor may ▇▇▇ periodically to recover damages as they occur throughout the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable to the remaining term of the lease. Such damages shall be measured by the difference between the rent under this lease and the reasonable rental value of the Slip for the remainder of the term, discounted to the time of judgment at the prevailing interest on judgments. (c) Lessor may make any such payment or perform any obligation which Lessee has failed such other act on Tenant's part. Landlord's election to make any such payment or perform in which case Lessor any such act on Tenant's part shall be entitled not give rise to recover from Lessee upon any responsibility of Landlord to continue making the same or similar payments or performing the same or similar acts. Tenant shall, within ten (10) days after written demand therefor by Landlord, reimburse Landlord for all amounts sums so expendedpaid by Landlord and all necessary incidental costs, plus together with interest thereon at the rate of ten percent (10%) per annum, accruing from the date of the expenditure at the rate of one-and-one half percent per month. Any such payment or performance by Lessor Landlord: and Landlord shall not waive Lessee's defaulthave the same rights and remedies in the event of failure by Tenant to pay such amounts as Landlord would have in the event of a default by Tenant in payment of rent.

Appears in 1 contract

Sources: Building Lease (Vdi Media)

Remedies for Default. In case (a) Upon the occurrence of default an Event of Tenant Default, Landlord shall have the option to do and perform any one or more of the following in addition to, and not in limitation of, any other remedy or right permitted it by law or by this Lease: (i) Terminate this Lease, in which event Tenant shall immediately surrender the Premises to Landlord; but if Tenant shall fail to do so, Landlord may enter upon the Premises and expel or remove Tenant and Tenant’s personal property therefrom without prejudice to Landlord’s right to collect damages as described hereinafter provided; (ii) Enter the Premises and remove Tenant and its property there from, and relet the Premises as the agent of Tenant and receive rent therefor, and repair or alter the Premises in Section 6 a manner as Landlord may reasonably deem necessary to relet the same, whereupon Tenant shall be liable to Landlord for any deficiency which may arise by reason of such reletting during the remainder of the Term of this leaseLease, Lessor and/or (iii) Recover from Tenant all damages Landlord may incur by reason of such Event of Tenant Default, including the reasonable cost of recovering the Premises and reasonable attorney’s fees. Landlord shall exercise its best efforts to mitigate its damages, if any, arising from an Event of Tenant Default, regardless of whether or not Landlord shall elect to terminate this Lease. No receipt of money by Landlord from Tenant after the termination of this Lease as herein provided shall reinstate, continue or extend the Term of this Lease, operate as a waiver of the right of Landlord to enforce the payment of Rent when due or thereafter falling due, affect any notice theretofore given by Landlord or operate as a waiver of the right of Landlord to recover possession of the Premises by proper remedy. (b) Upon the occurrence of an Event of Landlord Default, Tenant shall have the option to do and perform any one or more of the following in addition to, and not in limitation of, any other remedy or right permitted it by law or by this Lease elect to terminate this Lease: (i) Terminate this Lease; and/or (ii) Cure the Event of Landlord Default, in which case, Tenant shall have the right to the following remedies which are intended to be cumulative and in addition to any other remedies provided under applicable law: (a) Lessor may at its option terminate the lease offset Rent otherwise due hereunder by notice to Lessee. With or without termination, Lessor may retake possession of the Slip by towing or removing any boats, watercraft, or other items at the Dock and may use or relet the Slip without accepting a surrender or waiving the right to damages. Following such retaking of possession, efforts by the Lessor to relet the Slip shall be sufficient if Lessor follows its usual procedures for finding lessees for the Slip at rates not less than the current rates for other comparable Slips at the Dock. If Lessor has other vacant slip(s) at the Dock, prospective Lessees may be placed in such other slip without prejudice to Lessor's claim to damages or loss of rentals from Lessee. (b) Lessor may recover all damages caused by Lessee's default which shall include an amount equal to rentals lost because Tenant’s aggregate costs and expenses incurred in connection with such cure (including without limitation the commercially-reasonable costs of the default. Lessor may ▇▇▇ periodically to recover damages as they occur throughout the lease term attorneys, contractors, and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable to the remaining term of the lease. Such damages shall be measured by the difference between the rent under this lease and the reasonable rental value of the Slip for the remainder of the term, discounted to the time of judgment at the prevailing interest on judgments.consultants); and/or (ciii) Lessor Recover from Landlord (by way of set-off against Rent or otherwise, as determined by Tenant) all damages Tenant may make any payment or perform any obligation which Lessee has failed to perform in which case Lessor shall be entitled to recover from Lessee upon demand all amounts so expendedincur by reason of such Event of Landlord Default, plus interest from the date of the expenditure at the rate of one-and-one half percent per month. Any such payment or performance by Lessor shall not waive Lessee's defaultincluding reasonable attorney’s fees.

Appears in 1 contract

Sources: Lease Agreement

Remedies for Default. In case A. Upon the happening of any event of default as described in Section 6 of this leasehereinabove described, Lessor Landlord shall have the right to the following remedies which are intended to be cumulative right, at its election, then or at any time thereafter and in addition to while any other remedies provided under applicable lawsuch event of default shall continue, either: (a1) Lessor may at its option To give Tenant written notice of intention to terminate this Lease on the lease by date of giving notice or on any later date specified therein, whereupon Tenant's right to Lessee. With or without termination, Lessor may retake possession of the Slip by towing Premises shall cease and this Lease shall be terminated, except as to Tenant's liability, as if the expiration of the term fixed in such notice were the end of the term herein originally demised; or (2) To re-enter and take possession of the Premises and repossess the same as of Landlord's former estate, and expel Tenant and those claiming through or removing under Tenant, and remove the effects of both, and without prejudice to any boats, watercraftremedies for arrears of Rent. Should Landlord elect to re- enter as provided in this subparagraph (2), or other items at the Dock and may should Landlord take possession pursuant to legal proceedings or pursuant to any notice provided for by law, Landlord shall without terminating this Lease, use or relet the Slip without accepting a surrender or waiving the right to damages. Following such retaking of possession, reasonable efforts by the Lessor to relet the Slip Premises in Landlord's or Tenant's name, but for the account of Tenant, for such term or terms (which may B. In the event that Landlord does not elect to terminate this Lease and elects to take possession as provided in subparagraph A(2) hereof, Tenant shall pay to Landlord (i) the Rent and other sums as herein provided, which would be payable hereunder if such repossession had not occurred, less (ii) the net proceeds, if any, of any reletting of the Premises after deducting Landlord's reasonable expenses in connection with such reletting, including, but without limitation, all repossession costs, brokerage commissions, reasonable attorneys' fees, alteration and repair costs and expenses of preparation for such reletting. If, in connection with any reletting, the new lease term extends beyond the existing term, or the Premises covered thereby include other premises not part of the Premises, a fair apportionment of the Rent received from such reletting and the expenses incurred in connection therewith will be made in determining the net proceeds from such reletting. Any Rent concessions will be apportioned over the term of the new lease. Tenant shall pay such Rent and other sums to Landlord monthly on the days on which the Rent would have been payable hereunder if possession had not been retaken, and Landlord shall be sufficient if Lessor follows its usual procedures for finding lessees for entitled to receive the Slip at rates not less than the current rates for other comparable Slips at the Dock. If Lessor has other vacant slip(s) at the Dock, prospective Lessees may be placed in same from Tenant on each such other slip without prejudice to Lessor's claim to damages or loss of rentals from Lesseeday. (bC. In the event that this Lease is terminated as a result of an uncured default by Tenant, as permitted in subparagraph A(1) Lessor may recover all hereof, Tenant shall remain liable to Landlord for damages caused by Lessee's default which shall include in an amount equal to rentals lost because the Rent and other sums which would have been owed by Tenant hereunder for the balance of the term had this Lease not been terminated, less the net proceeds, if any, of any reletting of the Premises by Landlord subsequent to such termination, after deducting all Landlord's expenses in connection with such reletting, including, but without limitation, the expenses enumerated above. Landlord shall be entitled to collect such damages from Tenant monthly on the days on which the Rent and other amounts would have been payable hereunder if this Lease had not been terminated, and Landlord shall be entitled to receive the same from Tenant on each such day. Landlord agrees to use good faith efforts to mitigate its damages in the event of Tenant's default. Lessor may ▇▇▇ periodically to recover damages as they occur throughout the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable to the remaining term of the lease. Such damages shall be measured by the difference between the rent under this lease and the reasonable rental value of the Slip for the remainder of the termAlternatively, discounted to the time of judgment at the prevailing interest on judgments. (c) Lessor may make any payment or perform any obligation which Lessee has failed to perform in which case Lessor option of Landlord, Landlord shall be entitled to recover forthwith against Tenant, as damages for the loss of the bargain and not as a penalty, an aggregate sum which, at the time of such termination of this Lease, represents the amount, if any, by which the aggregate of the Rent and all other sums payable by Tenant hereunder which would have accrued for the balance of the term exceeds the aggregate rental value of the Premises (such rental value to be computed on the basis of a tenant paying not only Rent, but also such other charges as are required to be paid by Tenant under the terms of this Lease) for the balance of such term, both discounted to present worth at the Federal Reserve discount rate plus one percent (1%). D. Suit or suits for the recovery of the amounts and damages set forth herein may be brought by Landlord, from Lessee upon demand all amounts so expendedtime to time, plus interest from at Landlord's election; and nothing herein shall be deemed to require Landlord to await the date that this Lease or the term hereof would have expired had there been no such default by Tenant, or no such termination, as the case may be. Each right and remedy provided for in this Lease shall be cumulative and shall be in addition to every other right or remedy provided for in this Lease or now or hereafter existing at law or in equity or by statute or otherwise, including, but not limited to, suits for injunctive relief and specific performance. The exercise or beginning of the expenditure exercise by Landlord of any one or more of the rights or remedies provided for in this Lease as now or hereafter existing at law or in equity or by statute or otherwise shall not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies E. No failure by Landlord to insist upon the strict performance of any agreement, term, covenant or condition hereof or to exercise any right or remedy consequent upon a breach thereof, and no acceptance of full or partial Rent during the continuance of any such breach, shall constitute a waiver of any such breach or any such agreement, term, covenant or condition. No agreement, term, covenant or condition hereof to be performed or complied with by Tenant, and no breach thereof, shall be waived, altered or modified except by written instrument executed by Landlord. No waiver of any breach shall affect or alter this Lease; but each and every agreement, term, covenant and condition hereof shall continue in full force and effect with respect to any other then existing or subsequent breach. Notwithstanding any termination of this Lease, the same shall continue in full force and effect as to any provisions hereof which require observance or performance by Landlord or Tenant subsequent to termination. (1) Nothing contained in this Paragraph 17 shall limit or prejudice the right of Landlord to prove and obtain as liquidated damages in any bankruptcy, insolvency, receivership, reorganization or dissolution proceeding an amount equal to the maximum allowed by any statute or rule of law governing such proceeding and in effect at the time when such damages are to be proved. (2) Notwithstanding anything in this Paragraph 17 to the contrary, any such proceeding or action involving bankruptcy, insolvency, reorganization, arrangement, assignment for the benefit of creditors, or appointment of a receiver or trustee, as specified in subparagraphs 16D and 16E above, shall be considered to be an event of default only when such proceeding, action or remedy shall be taken or brought by or against the then holder of the leasehold estate under this Lease. F. Any rents or other amounts owing hereunder which are not paid within 30 days after they are due shall bear interest at the rate of one-and-one half percent 10% per month. Any annum from the 31st day after the due date of such payment until received by Landlord. Similarly, any amounts paid by Landlord to cure any defaults of Tenant hereunder, which Landlord shall have the right, but not the obligation to do, shall, if not repaid by Tenant within 30 days after demand by Landlord, thereafter bear interest at the above rate until received by Landlord. G. Landlord hereby waives any statutory or common law rights it may have granting Landlord a lien or the right to foreclose on the personal property of Tenant and/or the tenant improvements installed in the Premises by Tenant. H. If Landlord is in default in the performance by Lessor shall of its obligations under this Lease and such default is not waive Lesseecured within 30 days after written notice thereof, Tenant may at its option upon 10 days' prior written notice to Landlord terminate this Lease, or may incur any expense and deduct the monies owed from Rent and any other amounts due under this Lease. Landlord's defaultperformance of each and every one of its conditions, covenants and agreements in this Lease is a condition precedent to Landlord's right to enforce this Lease.

Appears in 1 contract

Sources: Lease Agreement (Rentx Industries Inc)

Remedies for Default. In case On the occurrence of default as described in Section 6 an Event of this leaseDefault by Tenant hereunder, Lessor Landlord shall have the right to pursue any one or more of the following remedies which are intended to be cumulative and in addition to any other remedies provided under applicable lawnow or later available to Landlord, either in law or equity, which remedies shall not be exclusive, but shall instead be cumulative: (a) Lessor The right to (i) remove all persons and property from the Premises and repossess same, in which case any and all of Tenant’s property that Landlord removes from the Premises may be stored in a public warehouse or elsewhere at its option the cost of, and for the account of, Tenant; or (ii) allow Tenant to remain in full possession and control of the Premises. If Landlord chooses to repossess the Premises, then this Lease will automatically terminate in accordance with the lease by notice to Lesseeprovisions of California Civil Code Section 1951.2. With or without In the event of such termination of the Lease, Landlord may recover from Tenant: (a) the worth at the time of award of the unpaid Rent which had been earned at the time of termination, Lessor may retake possession including interest at the maximum rate allowed by law; (b) the worth at the time of award of the Slip amount by towing or removing any boatswhich the unpaid Rent which would have been earned after termination until the time of the award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided, watercraft, or other items including interest at the Dock maximum rate allowed by law; (c) the worth at the time of award of the amount by which the unpaid Rent for the balance of the Term after the time of award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided; and may use (d) any other amount necessary to compensate Landlord for all the detriment proximately caused by ▇▇▇▇▇▇’s failure to perform its obligations under this Lease or relet which, in the Slip without accepting a surrender or waiving ordinary course of things, would be likely to result therefrom. “The worth at the right to damages. Following such retaking time of possession, efforts by the Lessor to relet the Slip award,” as used in (a) and (b) of this subsection shall be sufficient if Lessor follows its usual procedures for finding lessees for the Slip at rates not less than the current rates for other comparable Slips computed by allowing interest at the Dockmaximum rate allowed by law. If Lessor has other vacant slip(s) “The worth at the Docktime of the award,” as referred to in (c) of this subsection shall be computed by discounting the amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, prospective Lessees may be placed in such other slip without prejudice to Lessor's claim to damages or loss of rentals from Lesseeplus one percent (1%). (b) Lessor may recover Tenant shall be liable immediately to Landlord for all damages caused costs Landlord incurs in reletting the Premises, including, without limitation, lost rents, eviction costs, attorney’s fees, brokers’ commissions, expenses of remodeling the Premises required by Lessee's the reletting, and like costs. Reletting can be for a period shorter or longer than the remaining Term. Tenant shall pay to Landlord the Rent due under this Lease on the dates the Rent is due, unless Landlord notifies Tenant that Landlord elects to terminate this Lease. After ▇▇▇▇▇▇’s default which shall include an amount equal and for as long as Landlord does not terminate Tenant’s right to rentals lost because possession of the defaultPremises, if Tenant obtains Landlord’s consent, Tenant shall have the right to assign its interest in this Lease, or sublet all or a portion of the Premises, but Tenant shall not be released from liability or its obligations under this Lease. Lessor may ▇▇▇ periodically ▇▇▇▇▇▇’s consent to recover damages as they occur throughout the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable to the remaining term of the lease. Such damages proposed assignment or subletting shall be measured by the difference between the rent under this lease and the reasonable rental value of the Slip for the remainder of the term, discounted to the time of judgment at the prevailing interest on judgmentsas required in Section 15. (c) Lessor may make If Landlord elects to relet the Premises as provided in this Section 19, then any Rent that Landlord receives from reletting shall be applied to the payment or perform of: (1) First, any obligation which Lessee has failed indebtedness from Tenant to perform Landlord other than Rent due from Tenant; (2) Second, all costs incurred by Landlord in which case Lessor reletting, including costs for maintenance; and (3) Third, Rent due and unpaid under this Lease. (d) After deducting the payments referred to in this Section 19, any sum remaining from any Rent that Landlord receives from reletting shall be held by Landlord and applied in payment of future Rent as Rent becomes due under this Lease. In no event shall Tenant be entitled to recover any excess Rent received by Landlord. If, on the date Rent is due under this Lease, the Rent received from Lessee upon demand any reletting is less than the Rent due on that date, then Tenant shall pay to Landlord, in addition to the remaining Rent due, all amounts so expendedcosts which Landlord incurred in reletting, plus including without limitation maintenance, that remain after applying the Rent received from the reletting, as provided in this Section 19. (e) Except as otherwise provided by law, any Rent not paid when due shall bear interest at the Default Rate from the date due until paid and shall be subject to the late charge set forth in Section 36 hereof. (f) In addition to any other remedies provided by this Section 19 of the expenditure at Lease, or any other provision of this Lease, or as provided by law, upon the rate occurrence of one-and-one half percent per monthan Event of Default on the part of Tenant during the Term of this Lease, as the same may be extended, following notice and a reasonable opportunity to cure, all unamortized costs of Tenant Improvements (as defined in Exhibit B hereof) together with the unamortized balance of any broker’s commissions paid by Landlord in connection with this Lease and/or any extension thereof, shall be accelerated and become immediately due and payable to Landlord upon demand. Any such payment or performance by Lessor sums owed pursuant to this Section 19(f) shall not waive Lessee's defaultsurvive termination of the Lease, and shall be deemed to be Additional Rent hereunder.

Appears in 1 contract

Sources: Office Lease (Intersearch Group Inc)

Remedies for Default. In case A. If any one or more events of default as described in Section 6 of this leaseshall happen, Lessor then Landlord shall have the right at Landlord’s election, then or at any time thereafter without demand or notice, to reenter and take possession of the following remedies which are intended to be cumulative Premises or any part thereof and in addition repossess the same as Landlord’s former estate and expel Tenant and those claiming through or under Tenant, and remove the effects of both or either, without being deemed guilty of any manner of trespass, and without prejudice to any other remedies for arrears of Base Rent or Additional Rent or breach of covenants or prior conditions. B. Should Landlord take possession pursuant to legal proceedings or pursuant to any notice provided under applicable lawfor by law including a proceeding for possession pursuant to Colorado’s Forcible Entry and Unlawful Detainer Statutes, Landlord may, from time to time, with or without terminating this Lease either: (a1) Lessor Relet the Premises or any part thereof, either alone or in conjunction with other portions of the Building of which the Premises are a part, in Landlord’s or Tenant’s name, but for the account of Tenant, for such term or terms (which may at be greater or less than a period which would otherwise have constituted the balance of the term of this Lease) and on such conditions and upon such other terms (which may include concessions of free rent and alteration and repair of the Premises) as Landlord, in its option terminate sole discretion, may determine, and Landlord may collect and receive the rents therefor. Landlord shall use reasonable efforts to relet the Premises after all other space available for leasing in the Building has been let, but, Landlord shall not have any duty to lease by notice the Premises below the then current market rental rates being obtained for competing high rise office buildings in downtown Denver, Colorado and shall in no way be responsible or liable for any failure to Lesseerelet the Premises, or any part thereof, or for any failure to collect any rent due upon such reletting. With No such reentry or without termination, Lessor may retake taking possession of the Slip Premises by towing Landlord shall be construed as an election on Landlord’s part to terminate this Lease unless a written notice of such intention be given to Tenant. No notice from Landlord hereunder or removing under a forcible entry and unlawful detainer statute or similar law shall constitute an election by Landlord to terminate this Lease unless such notice specifically so states. Landlord reserves the right following any boatssuch reentry and/or reletting to exercise its right to terminate this Lease by giving Tenant such written notice, watercraftin which event the Lease will terminate as specified in said notice. If Landlord elects to take possession of the Premises as provided in this Subsection (1) without terminating the Lease, Tenant shall pay to Landlord (i) the Base Rent and other sums as herein provided, which would be payable hereunder if such repossession had not occurred, less (ii) the net proceeds, if any, of any reletting of the Premises after deducting all Landlord’s reasonable and actual expenses in connection with such reletting, including, but without limitation, all repossession costs, brokerage commissions, legal expenses, attorneys’ fees, expenses of employees, alteration, remodeling and repair costs and expenses of preparation for such reletting. If, in connection with any reletting, the new lease term extends beyond the existing term, or the premises covered thereby include other items at premises not part of the Dock Premises, a fair apportionment of the rent received from such reletting and may use the expenses incurred in connection therewith as provided aforesaid will be made in determining the net proceeds received from such reletting. Tenant shall pay such other amounts to Landlord monthly on the days on which the Base Rent and all other amounts owing hereunder would have been payable if possession had not been retaken and Landlord shall be entitled to receive the same from Tenant on each such day; or (2) Give Tenant written notice of intention to terminate this Lease on the date of such given notice, or relet on any later date specified therein, and on the Slip without accepting a surrender or waiving the date specified in such notice, Tenant’s right to damages. Following such retaking possession of possessionthe Premises shall cease and the Lease shall thereupon be terminated, efforts by except as to Tenant’s liability hereunder as hereinafter provided, as if the Lessor to relet expiration of the Slip shall be sufficient if Lessor follows its usual procedures for finding lessees for the Slip at rates not less than the current rates for other comparable Slips at the Dock. If Lessor has other vacant slip(s) at the Dock, prospective Lessees may be placed term fixed in such other slip without prejudice notice were the end of the term herein originally demised. In the event this Lease is terminated pursuant to Lessor's claim the provisions of this Subsection (2), or terminated pursuant to a proceeding for possession under the Colorado Forcible Entry and Unlawful Detainer Statutes, Tenant shall remain liable to Landlord for damages or loss of rentals from Lessee. (b) Lessor may recover all damages caused by Lessee's default which shall include in an amount equal to rentals lost because the Base Rent and other sums which would have been owing by Tenant hereunder for the balance of the defaultPrimary Lease Term had this Lease not been terminated, less the net proceeds, if any, of any reletting of the Premises by Landlord subsequent to such termination, after deducting all Landlord’s expenses in connection with such reletting, including, but without limitation, the expenses enumerated in Subsection (1) above. Lessor may ▇▇▇ periodically Landlord shall be entitled to collect such damages from Tenant monthly on the days on which the Base Rent and other amounts would have been payable hereunder if this Lease had not been terminated, and Landlord shall be entitled to receive the same from Tenant on each such day. Alternatively, at the option of Landlord, in the event this Lease is terminated, Landlord shall be entitled to recover forthwith against Tenant as damages for loss of the bargain and not as they occur throughout the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable penalty, an amount equal to the remaining term worth at the time of termination of the lease. Such damages shall be measured by excess, if any, of the difference between amount of Base Rent and Additional Rent reserved in this Lease for the rent under this lease and balance of the Primary Lease Term hereof over the then reasonable rental value of the Slip Premises for the remainder same period plus all amounts incurred by Landlord in order to obtain possession of the Premises and relet the same, including attorneys’ fees, reletting expenses, alterations and repair costs, brokerage commissions and all other like amounts. C. Suit or suits for the recovery of the Base Rent, Additional Rent and other amounts and damages set forth hereinabove may be brought by Landlord, from time to time, at Landlord’s election, and nothing herein shall be deemed to require Landlord to await the date whereon this Lease or the Primary Lease Term hereof would have expired by limitation had there been no such default by Tenant, or no such termination, as the case may be. Each right and remedy provided for in this Lease shall be cumulative and shall be in addition to every other right or remedy provided for in this Lease or now or hereafter existing at law or in equity or by statute or otherwise including but not limited to suits for injunctive relief and specific performance. The exercise or beginning of the exercise by Landlord of any one or more of the rights or remedies provided for in this Lease or now or hereafter existing at law or in equity or by statute or otherwise shall not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies provided for in this Lease or now or hereafter existing at law or in equity or by statute or otherwise. All costs incurred by Landlord in connection with collecting any Base Rent or other amounts and damages owing by Tenant pursuant to the provisions of this Lease, or to enforce any provision of this Lease, including reasonable attorneys’ fees from the date such matter is turned over to an attorney, whether or not one or more actions are commenced by Landlord, shall also be recoverable by Landlord from Tenant. D. No failure by Landlord to insist upon the strict performance of any agreement, term, discounted covenant or condition hereof or to exercise any right or remedy consequent upon a breach thereof, and no acceptance of full or partial payment of Base Rent or Additional Rent during the continuance of any such breach, shall constitute a waiver of any such breach or of such agreement, term, covenant or condition. No agreement, term, covenant or condition hereof to be performed or complied with by Tenant, and no breach thereof, shall be waived, altered or modified except by written instrument executed by Landlord. No waiver of any breach shall affect or alter this Lease, but each and every agreement, term, covenant and condition hereof shall continue in full force and effect with respect to any other then existing or subsequent breach thereof. Notwithstanding any termination of this Lease, the same shall continue in force and effect as to any provisions which require observance or performance by Landlord or Tenant subsequent to such termination. E. Nothing contained in this Section 18 shall limit or prejudice the right of Landlord to prove and obtain as liquidated damages in any bankruptcy, insolvency, receivership, reorganization or dissolution proceeding, an amount equal to the time maximum allowed by any statute or rule of judgment law governing such a proceeding and in effect at the prevailing interest on judgmentstime when such damages are to be proved, whether or not such amount be greater, equal or less than the amounts recoverable, either as damages or rent, referred to in any of the preceding provisions of this Section. Notwithstanding anything contained in this Section to the contrary, any such proceeding or action involving bankruptcy, insolvency, reorganization, arrangement assignment for the benefit of creditors, or appointment of a receiver or trustee, as set forth above, shall be considered to be an event of default only when such proceeding, action or remedy shall be taken or brought by or against the then holder of the leasehold estate under this Lease. (c) Lessor may make F. Landlord and Tenant agree that any payment action or perform any obligation which Lessee has failed proceeding arising out of this Lease shall be heard by the court sitting without a jury, and they hereby waive all rights to perform trial by jury. In the event of default, in which case Lessor addition to all other remedies therefor, Landlord shall be entitled to recover receive from Lessee upon demand Tenant all sums the payment of which may previously have been waived by Landlord, or which may have been paid by Landlord, pursuant to any agreement by Landlord to grant Tenant a rental abatement or other monetary inducement or concession, including any tenant finish allowance and all other payments made by Landlord to or on behalf of Tenant, together with interest on such amounts so expendedat three (3) percentage points above the Prime Rate, plus interest from the date or dates such amounts were paid by Landlord or would have been due from Tenant but for the abatement, until finally paid or repaid. G. Any amounts paid by Landlord to cure any defaults of Tenant hereunder, which Landlord shall have the expenditure right, but not the obligation, to do, shall, if not repaid by Tenant within five (5) days of demand by Landlord, thereafter bear interest at the rate of one-and-one half three percent per month. Any such payment (3%) over the then Prime Rate, or performance the highest rate permitted by Lessor shall not waive Lessee's defaultapplicable usury law, whichever is lower, until paid.

Appears in 1 contract

Sources: Office Building Lease (Georesources Inc)

Remedies for Default. In case 19.1 Upon the occurrence of default an Event of Default, Landlord shall have the right at its option to do any one or more of the following without further demand upon or notice to Tenant: (a) Landlord may give Tenant notice of Landlord’s intention to terminate this Lease on a date specified in such notice, which date shall not be less than five (5) Business Days after the giving of such notice. On such date, unless the Event of Default for which the surrender is required has been cured by Tenant, the Term and the estate hereby granted and all rights of Tenant hereunder shall expire and terminate as described if such date were the date fixed for the expiration of the Term, but Tenant shall remain liable for all its obligations hereunder through the date fixed for the expiration of the Term, including its liability for the payment of Fixed Rent and Additional Rent as hereinafter provided and all provisions of this Lease that shall survive the termination or early expiration of this Lease shall so survive. (b) With or without termination of this Lease, Landlord or Landlord’s agents may immediately or at any time thereafter re-enter the Premises or any part thereof and dispossess Tenant and any other occupants of the Premises, by summary proceedings or otherwise as permitted by applicable Legal Requirements, and remove effects located thereon, without being liable to indictment, prosecution or damages therefor, to the end that Landlord may possess, have, hold and enjoy the Premises. The word “re-enter”, as used herein, is not restricted to its technical legal meaning. (c) After any repossession of any of the Premises whether or not this Lease is terminated, Landlord shall undertake reasonable efforts to re-let the Premises or any part thereof to any Person for such term (which may be greater or less than the period which would otherwise have constituted the balance of the Term), for such rent and on such other conditions (which may include concessions or free rent) and for such uses as Landlord, in its reasonable discretion, may determine and Landlord shall proceed to collect and receive any rents payable by reason of such re-letting. The rents received from such re-letting shall be applied (A) first to the reasonable costs and expenses of such re-letting and collection actually incurred by or on behalf of Landlord, including any renovations and alterations of the Premises, reasonable attorneys’ fees and any actual real estate commissions paid, and (B) thereafter toward payment of all sums due or to become due to Landlord hereunder in such order as Landlord deems appropriate. (d) Notwithstanding anything set forth herein to the contrary, in the event of any Operating Failure, Landlord’s sole remedy for such Operating Failure shall be as set forth in Section 6 6.3. 19.2 Tenant hereby waives the service of any notice of intention to re-enter or to institute legal proceedings to that end which may otherwise be required to be given under any present or future law. Tenant, on its own behalf and on behalf of all Persons claiming through or under Tenant, including all creditors, does further hereby waive any and all rights which Tenant and all such Persons might otherwise have under any present or future law to redeem the Premises, or to re-enter or repossess the Premises, or to restore the operation of this leaseLease, Lessor after (i) Tenant shall have been dispossessed by a judgment or by warrant of any court or judge, (ii) any re-entry by Landlord whether or not this Lease has been terminated, or (iii) 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. In the event of a breach or threatened breach by Tenant, or any persons claiming through or under Tenant, of any term, covenant or condition of this Lease, Landlord shall have the right to enjoin such breach and the right to invoke any other remedy allowed by law or in equity as if re-entry, summary proceedings and other special remedies were not provided in this Lease for such breach. The right to invoke the remedies set forth in this Lease are cumulative and shall not preclude Landlord from invoking any other remedy allowed at law or in equity. 19.3 If this Lease and the Term shall expire or terminate and Landlord shall re-enter or take possession of all or any portion of the Premises as provided in Section 19.1, or Landlord shall re-enter or take possession of all or any portion of the Premises by or under any summary proceeding or any other action or proceeding, whether this Lease is terminated or not, then the following remedies which are intended to be cumulative and in addition to any other remedies provided under applicable lawshall apply: (a) Lessor may at its option terminate Tenant shall pay to Landlord all Fixed Rent and Additional Rent payable under this Lease for the lease by notice period up to Lessee. With the earlier to occur of (i) the date upon which this Lease and the Term shall have expired or without terminationterminated, Lessor may retake and (ii) the date of any re-entry or taking of possession upon all or any portion of the Slip Premises by towing or removing any boatson behalf of Landlord, watercraft, or other items at as the Dock and case may use or relet the Slip without accepting a surrender or waiving the right to damages. Following such retaking of possession, efforts by the Lessor to relet the Slip shall be sufficient if Lessor follows its usual procedures for finding lessees for the Slip at rates not less than the current rates for other comparable Slips at the Dock. If Lessor has other vacant slip(s) at the Dock, prospective Lessees may be placed in such other slip without prejudice to Lessor's claim to damages or loss of rentals from Lesseebe. (b) Lessor may recover all damages caused by Lessee's default which Tenant shall include an be liable for and shall pay to Landlord, as damages, any deficiency (the “Deficiency”) between the amount equal to rentals lost because of the default. Lessor may ▇▇▇ periodically to recover damages as they occur throughout Fixed Rent and Additional Rent for the lease term period which otherwise would have constituted the then unexpired portion of the Term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in the net amount, if any, of all fixed and additional rents collected under any one action to recover accrued damages plus damages attributable re-letting of all or any portion of the Premises effected pursuant to the remaining term provisions of the leaseSection 19.1 for any part of such period. Such damages Any Deficiency shall be measured calculated after first deducting from the amount of any such rents collected under any re-letting the aggregate amount of Landlord’s reasonable costs and expenses actually incurred by or on behalf of Landlord as described in Section 19.1(c). Any Deficiency shall be paid in monthly installments by Tenant on the difference between the rent under days specified in this lease Lease for payment of installments of Fixed Rent, and the reasonable rental value of the Slip for the remainder of the term, discounted to the time of judgment at the prevailing interest on judgments. (c) Lessor may make any payment or perform any obligation which Lessee has failed to perform in which case Lessor Landlord shall be entitled to recover from Lessee Tenant such Deficiency monthly as the same shall arise or from time to time and no suit to collect the amount of the Deficiency for any month or months shall prejudice Landlord’s right to collect the Deficiency for any subsequent month or months by a similar proceeding. (c) Whether or not Landlord shall have collected any monthly or other Deficiency as aforesaid, Landlord shall be entitled to recover from Tenant, and Tenant shall pay to Landlord, on demand, in lieu of any further Deficiency as and for liquidated and agreed final damages, a sum equal to the amount by which the Fixed Rent for the period which otherwise would have constituted the unexpired portion of the Term exceeds the then fair and reasonable rental value of the Premises for the same period, both discounted to present worth at the annual rate of five percent (5%) per annum, less the aggregate amount of Deficiencies theretofore collected by Landlord pursuant to the provisions of Section 19.3(b) for the same period; if, before presentation of proof of such liquidated damages to any court, commission or tribunal, the Premises, or any part thereof, shall have been re-let by Landlord for the period which otherwise would have constituted the unexpired portion of the Term, or any part thereof, the amount of rent and additional rent reserved upon demand all amounts such re-letting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so expendedre-let during the term of the re-letting; provided, plus interest from such re-letting is an arm’s length bona fide transaction. 19.4 If the Premises, or any part thereof, shall be re-let together with other space in the Building, the rents collected or reserved under any such re-letting and the expenses of any such re-letting shall be equitably apportioned for the purposes of Section 19.3. Tenant shall in no event be entitled to any rents collected or payable under any re-letting, whether or not such rents shall exceed the Fixed Rent reserved in this Lease. Fixed Rent as referred to in Section 19.3(a) means the Fixed Rent in effect immediately prior to the date upon which this Lease and the Term shall have expired and come to an end, or the date of re-entry upon the expenditure Premises by Landlord, as the case may be. All rights and remedies of Landlord set forth herein are in addition to all other rights and remedies available to Landlord hereunder or at the rate law or in equity. All rights and remedies available to Landlord hereunder or at law or in equity are expressly declared to be cumulative. The exercise by Landlord of one-and-one half percent per month. Any any such payment right or performance by Lessor remedy shall not be deemed an election of remedies or prevent the concurrent or subsequent exercise of any other right or remedy. No delay in the enforcement or exercise of any such right or remedy shall constitute a waiver of any default by Tenant hereunder or of any of Landlord’s rights or remedies in connection therewith. Landlord shall not be deemed to have waived any default by Tenant hereunder unless such waiver is set forth in a written instrument signed by Landlord. If Landlord waives in writing any default by Tenant, such waiver shall not be construed as a waiver of any covenant, condition or agreement set forth in this Lease except as to the specific circumstances described in such written waiver. Notwithstanding anything contained herein to the contrary, no shareholder, member, director or partner from time to time of Tenant, nor any officer, agent, or employee of Tenant shall be charged personally with any liability by, or held liable to, any party hereto or by any Person claiming through or under such party under any term or provision of this Lease, or by virtue of its execution or attempted execution, or due to any breach, attempted breach or alleged breach thereof. 19.5 Notwithstanding any provisions of this Lease to the contrary, except with regard to the damages specifically provided under Section 22.2, Landlord shall not be liable to Tenant, and Tenant shall not be liable to Landlord, for indirect, consequential, special, punitive, exemplary, incidental or other like damages (including, without limitation, damages to Landlord for lost profits or opportunities, or the loss by foreclosure, deed in lieu, or otherwise, of all or any portion of Landlord’s interest in the Building and/or Land), even if arising from any act, omission or negligence of such party or from the breach by such party of its obligations under this Lease. 19.6 If either Landlord or Tenant desires to bring an action against the other in connection with this Lease, such action shall be brought in the federal courts located in the Eastern District of Virginia, Alexandria Division, or state or local courts located in Fairfax County, Virginia. Landlord and Tenant consent to the jurisdiction of such courts and waive Lessee's defaultany right to have such action transferred from such courts on the grounds of improper venue or inconvenient forum. 19.7 Landlord hereby waives the benefit of all statutory or common law liens Landlord may have on any of Tenant’s tangible or intangible personal property located in the Premises, including, without limitation, the right to distrain for rent.

Appears in 1 contract

Sources: Deed of Lease (Verisign Inc/Ca)

Remedies for Default. In case Tenant covenants that If (i) a petition is filed or any proceeding is commenced against Tenant or by Tenant under any federal or state 287 bankruptcy or insolvency law, or a receiver or other official is appointed for Tenant or for a substantial part of default as described Tenant’s assets or for Tenant’s interest in Section 6 this Lease, or Tenant 288 makes any assignment for the benefit of creditors, or any attachment or execution against a substantial part of Tenant’s assets or against Tenant’s interest in this Lease remains 289 unstayed or un-dismissed for a period of more than ten (10) days, or a substantial part of Tenant’s assets or Tenant’s interest in this Lease is taken by legal process in any 290 action against Tenant or if (ii) the demised premises at any time are deserted, abandoned or closed for a period of five (5) days or more, or if Tenant defaults for a period 291 of five (5) days in paying any installment of rent when due or in performing any covenant, provision or condition herein contained binding upon Tenant, or if the Tenant 292 causes waste to the terms of this lease, Lessor or if the Tenant shall terminate or caused to be terminated, for what ever reason, any utility service (water, sewage, electric, gas, 293 telephone, etc.) to the premises, Landlord shall have the right, WITH OUT TERMINATING THIS LEASE or terminating the Landlord's right to receive rents or the Broker 294 to receive fees (from the tenant or landlord as maybe applicable), for the remaining term of this lease, in addition to all other rights and remedies provided by law, the right, 295 without notice to Tenant, to enter and take possession of the demised premises - peaceable or by force. The Landlord, solely at the Landlord's option, may terminate this 296 lease by giving written notice to the tenant within 30 days of taking the premises - as herein provided. Tenant will hold landlord harmless and without liability for such action 297 and Tenant will pay all of the Landlord's cost and/or expenses of whatever nature associated with such action. Wherein the Landlord has taken possession as herein described 298 the Landlord may remove all property therein, without liability for damage to, and without obligation to store such property. The Landlord has the additional right to relet 299 the demised premises, in whole or in part, in one or more leases, for the unexpired portion of the term, or any part thereof, and receive the rent therefore and apply it on the 300 rent and other charges due hereunder, the rate and terms of such reletting to be such as Landlord deems expedient, and Landlord's action shall be final and binding upon 301 Tenant, and Tenant agrees to pay promptly to Landlord on demand, at one time or from time to time, any difference between the rent and other charges payable hereunder 302 and any smaller amounts collected by Landlord from the tenant or tenants to whom the demised premises may be relet as aforesaid. It is the Landlord's and/ or Broker’s intent 303 that the tenant's duty to pay rent and/or fees under the terms of this lease shall not lapse upon the Landlord's reentering the property as provided herein. It is further the 304 Landlord's intent that the Tenant be liable for any difference between the rents due under the terms of this lease and the rent obtained by reletting. If Tenant goes into bankrupt- 305 cy, voluntary or involuntary, or into receivership, or makes a general assignment for the benefit of creditors, Landlord shall have the right to terminate this lease at such time 306 thereafter as Landlord may elect and in any such event and/or election Landlord and/ or Broker shall have all the following rights and/or remedies which are intended provided by law and/or by this lease. 307 All remedies of Landlord shall be cumulative. All remedies and/or fees of the Broker shall be cumulative. Notwithstanding other provisions herein stated, in the event 308 the tenant violates any provision of this lease the tenant further agrees to pay to the landlord and/ or Broker and/ or their agent(s) or anyone working on their 309 behalf the sum of $200.00 an hour - For the landlord's and/ or Broker’s or their agent's time spent enforcing the landlord's and/ or Broker’s entitlement(s) under 310 the lease or other promulgations herein provided with a minimum fee for this service - per occurrence - to be $150.00. 311 312 6.B. REMEDIES NOT LIMITED. Landlord shall have all rights and remedies now or hereafter existing at law or in equity with respect to the enforcement of Tenant’s obligations 313 herein stated and the recovery of the Premises. No right or remedy conferred upon or reserved by Landlord shall be exclusive of any other right or remedy, but shall be 314 cumulative and in addition to any all other rights and remedies provided under applicable law: (a) Lessor may given hereafter or now or hereafter existing at its option terminate law or in equity. Landlord shall be entitled to injunctive relief in 315 the lease by notice to Lessee. With or without termination, Lessor may retake possession case of the Slip by towing or removing any boats, watercraftviolation, or other items at the Dock and may use attempted or relet the Slip without accepting threatened violation, of any covenant, agreement, condition or provision of this Lease, or to a surrender decree compelling performance of 316 any covenant, agreement, condition or waiving provision of this Lease. Nothing herein contained shall limit or prejudice the right of Landlord to damages. Following such retaking exercise any or all rights and remedies 317 available to Landlord by reason of possessiondefault or to prove for and obtain in proceedings under any bankruptcy or insolvency laws, efforts by the Lessor to relet the Slip shall be sufficient if Lessor follows its usual procedures for finding lessees for the Slip at rates not less than the current rates for other comparable Slips at the Dock. If Lessor has other vacant slip(s) at the Dock, prospective Lessees may be placed in such other slip without prejudice to Lessor's claim to damages or loss of rentals from Lessee. (b) Lessor may recover all damages caused by Lessee's default which shall include an amount equal to rentals lost because the maximum amount 318 allowed by any law in effect at the time when, and governing the proceedings in which, the damages are to be proven, whether or not the amount is greater, equal to, or less 319 than the amount of the defaultloss or damage referred to herein. Lessor may ▇▇▇ periodically to recover damages as they occur throughout the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable to the remaining term of the lease. Such damages shall be measured by the difference between the rent under this lease and the reasonable rental value of the Slip for the remainder of the term, discounted to the time of judgment at the prevailing interest on judgments. (c) Lessor may make any payment or perform any obligation which Lessee has failed to perform in which case Lessor shall be entitled to recover from Lessee upon demand all amounts so expended, plus interest from the date of the expenditure at the rate of one-and-one half percent per month. Any such payment or performance by Lessor shall not waive Lessee's default.320

Appears in 1 contract

Sources: General Commercial Lease

Remedies for Default. In case the event of any default as described in Section 6 of by Tenant under this leaseLease, Lessor shall have the right to the following remedies which are intended to be cumulative and then, in addition to and without prejudice to any other remedies provided under applicable lawright or remedy given hereunder or by law and notwithstanding any waiver of any former breach of covenant Landlord may: (a1) Lessor may at its option terminate the lease by notice Terminate this Lease, and ▇▇▇▇▇▇'s right to Lessee. With or without termination, Lessor may retake possession of the Slip Property, by towing or removing any boatsgiving to Tenant a notice of intention to terminate this Lease specifying a day not earlier than ten (10) days after the date on which such notice of intention is given and, watercraftupon the giving of such notice, or other items at the Dock term of this Lease and may use or relet all right, title, and interest of the Slip without accepting a surrender or waiving Tenant hereunder shall expire as fully and completely on the right to damages. Following such retaking of possession, efforts by day so specified as if that day were the Lessor to relet the Slip shall be sufficient if Lessor follows its usual procedures for finding lessees date herein specifically fixed for the Slip at rates not less than the current rates for other comparable Slips at the Dock. If Lessor has other vacant slip(s) at the Dock, prospective Lessees may be placed in such other slip without prejudice to Lessor's claim to damages or loss of rentals from Lessee. (b) Lessor may recover all damages caused by Lessee's default which shall include an amount equal to rentals lost because of the default. Lessor may ▇▇▇ periodically to recover damages as they occur throughout the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable to the remaining term of the lease. Such damages shall be measured by the difference between the rent under this lease and the reasonable rental value of the Slip for the remainder expiration of the term, discounted whereupon Tenant shall immediately surrender the Property to Landlord, and if Tenant fails to do so, Landlord may, without prejudice to any other remedy which it may have for possession or arrearages in rent, enter upon and take possession of the Property and expel or remove Tenant and any other person who may be occupying such Property or any part thereof without being liable for prosecution or any claim of damages therefore; and ▇▇▇▇▇▇ agrees to pay to Landlord on demand the amount of all loss and damage which Landlord may suffer by reason of such termination, whether through inability to relet the Property on satisfactory terms or otherwise. (2) Terminate this Lease as aforesaid and, upon termination of this Lease, exercise the remedies available under Massachusetts law including, without limitation, the right to recover the worth at the time of judgment at award of the prevailing interest on judgmentsamount by which the unpaid Base Rent and Additional Rent for the balance of the Term after the time of award exceeds the amount of such rental loss for the same period that Tenant proves could be reasonably avoided. (c3) Lessor So long as Landlord has not terminated ▇▇▇▇▇▇'s right to possession of the Premises, exercise the remedies available under Massachusetts law including without limitation, the right to collect, by suit or otherwise, each installment of Base Rent or payment of Additional Rent that becomes due hereunder, or to enforce, by suit or otherwise, performance or observance of any agreement, covenant or condition hereof on the part of Tenant to be performed or observed. (4) Enter upon and take possession of the Property without terminating this Lease and expel or remove Tenant and any other person who may be occupying such Property or any part thereof without being liable for prosecution of any claim of damages therefore, and without terminating this Lease or releasing Tenant from its obligations hereunder for the full term hereof, endeavor to relet the Property for the account of Tenant for such time and upon such terms as the Landlord shall determine, and receive the rent therefore. In any case of reletting hereunder, the Landlord may make repairs, alterations and additions in or to the Property, and redecorate the same to the extent deemed by the Landlord necessary or desirable, and the Tenant shall, upon demand, pay the cost thereof, together with the Landlord's expenses of the reletting (including, without limitation, attorney's fees). If the consideration collected by the Landlord upon any payment such reletting for ▇▇▇▇▇▇'s account is not sufficient to pay monthly the full amount of the Base Rent and Additional Rent reserved in this Lease, together with the cost of repairs, alterations, additions, redecorating and the Landlord's expenses, the Tenant shall pay to the Landlord the amount of each monthly or perform other deficiency upon demand. In the event Landlord is successful in reletting the Property at a rental in excess of that agreed to be paid by Tenant pursuant to the terms of this Lease, Landlord and Tenant each agrees that Tenant shall not be entitled, under any obligation which Lessee has failed circumstances, to perform in which case Lessor shall be entitled such excess rental, and Tenant does hereby specifically waive any claim to recover from Lessee such excess rental. (5) Have the right to have a receiver appointed, upon demand all amounts so expendedapplication by ▇▇▇▇▇▇▇▇, plus interest to take possession of the Property and to apply any rental collected from the date of the expenditure at the rate of one-and-one half percent per month. Any such payment or performance by Lessor shall not waive Lessee's defaultProperty and to exercise all other rights and remedies granted to Landlord pursuant to Paragraph 19B(4) hereof.

Appears in 1 contract

Sources: Lease Agreement

Remedies for Default. Failure by Developer to satisfy any of the covenants set out in section 5 (Developer’s Representations, Warranties and Covenants) shall be deemed a default under this Agreement. In case of default as described addition to all other remedies Barrie has in Section 6 of this leaselaw and equity: a. If Developer fails to comply with section 5(c) (File Site Plan), Lessor Barrie shall have the right to repurchase the following remedies which are intended to be cumulative and in addition to any other remedies provided under applicable law: Property from Developer at ninety (a90%) Lessor may at its option terminate the lease by notice to Lessee. With or without termination, Lessor may retake possession percent of the Slip purchase price of the Property including infrastructure improvements, without interest, and free from any and all encumbrances, and Developer shall provide to Barrie all cessations of charges and releases of other encumbrances and execute all Transfers and assurances as may be requisite in order to transfer a good and marketable title to Barrie within thirty (30) days of having been requested to do so by towing or removing Barrie. The said right to repurchase may be exercised by Barrie on sixty (60) days notice in writing at any boatstime. b. If Developer fails to comply with section 5(d) (Acceptable Site Plans), watercraftas reasonably determined by Barrie, or other items at the Dock and may use or relet the Slip without accepting a surrender or waiving Barrie shall have the right to damages. Following such retaking repurchase the Property from Developer at ninety (90%) percent of possessionthe purchase price of the Property, efforts by the Lessor including infrastructure improvements, without interest, and free from any and all encumbrances, and Developer shall provide to relet the Slip shall be sufficient if Lessor follows its usual procedures for finding lessees for the Slip at rates not less than the current rates for Barrie all cessations of charges and releases of other comparable Slips at the Dock. If Lessor has other vacant slip(s) at the Dock, prospective Lessees encumbrances and execute all Transfers and assurances as may be placed requisite in such other slip without prejudice order to Lessor's claim transfer a good and marketable title to damages or loss Barrie within thirty (30) days of rentals from Lesseehaving been requested to do so by Barrie. The said right to repurchase may be exercised by Barrie on sixty (60) days notice in writing at any time. c. If Developer fails to comply with section 5(f) (bCommencement of Construction), Barrie shall have the right to repurchase the Property from Developer at ninety (90%) Lessor may recover all damages caused by Lessee's default which shall include an amount equal to rentals lost because percent of the default. Lessor may ▇▇▇ periodically to recover damages as they occur throughout the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable to the remaining term purchase price of the leaseProperty including infrastructure improvements, without interest, and free from any and all encumbrances, and Developer shall provide to Barrie all cessations of charges and releases of other encumbrances and execute all Transfers and assurances as may be requisite in order to transfer a good and marketable title to Barrie within thirty (30) days of having been requested to do so by Barrie. Such damages shall The said right to repurchase may be measured exercised by the difference between the rent under this lease and the reasonable rental value of the Slip for the remainder of the term, discounted to the time of judgment Barrie on sixty (60) days notice in writing at the prevailing interest on judgmentsany time. (c) Lessor may make any payment or perform any obligation which Lessee has failed to perform in which case Lessor shall be entitled to recover from Lessee upon demand all amounts so expended, plus interest from the date of the expenditure at the rate of one-and-one half percent per month. Any such payment or performance by Lessor shall not waive Lessee's default.

Appears in 1 contract

Sources: Agreement of Purchase and Sale

Remedies for Default. In case of default any such default, after the expiration of any applicable notice and cure period, reentry, expiration and/or dispossess by summary proceedings or otherwise, (a) the total of all rents due under this lease shall immediately thereupon become due and payable without credits or offsets and damages shall be payable as described provided below in Section 6 this paragraph; (b) Landlord shall use all reasonable efforts to re-let the premises or any part or parts thereof, either in the name of Landlord or otherwise for a term which may at Landlord's reasonable judgment be less than or exceed the period which would otherwise have constituted the balance of the term of this leaselease and may grant reasonable concessions or free rent. The failure or refusal of Landlord to re-let the premises or any part or parts thereof shall not release or affect Tenant's liability for damages. In computing such damages there shall be added to the above sums and deficiency such expenses as Landlord may incur in connection with re-letting, Lessor such as legal expenses, attorney's fees, brokerage and for keeping the demises premises in good order and for preparing the same for re-letting. Landlord may make such alterations, repairs, replacements and/or decorations in the demised premises as Landlord in Landlord's sole judgment considers advisable or desirable for the purpose of re-letting the demises premises which shall not operate or be construed to release Tenant from liability hereunder as aforesaid. Except for Landlord's gross negligence, Landlord shall in no event be liable in any way whatsoever for failure to re-let the demised premises, or in the event that the demised premises are re-let, for failure to collect the rent thereof under such re-letting. In the event of a material breach by Tenant of any of the material covenants or provisions hereof, after the expiration of any applicable notice and cure period, Landlord shall have the right to the following remedies which are intended to be cumulative of injunction and in addition to any other remedies provided under applicable law: (a) Lessor may at its option terminate the lease by notice to Lessee. With or without termination, Lessor may retake possession of the Slip by towing or removing any boats, watercraft, or other items at the Dock and may use or relet the Slip without accepting a surrender or waiving the right to damages. Following such retaking of possessioninvoke any remedy allowed at law to ▇▇▇ for rent or other charges due either on a monthly basis or otherwise, efforts by the Lessor to relet the Slip or in equity; (c) Tenant shall be sufficient if Lessor follows its usual procedures liable for finding lessees and shall pay to Landlord, as damages, any deficiency between (i) the Annual Rent and Additional Rent payable hereunder for the Slip at rates not less than period which would have constituted the current rates unexpired portion of the Term (conclusively presuming the Additional Rent to be the same as was payable for other comparable Slips at the Dock. If Lessor has other vacant slip(syear immediately preceding such termination or re-entry) at and (ii) the Docknet amount, prospective Lessees may be placed if any, of rent ("Net Rent") collected under any reletting effected pursuant to the provisions of paragraph 13(b) for any part of such period (first deducting from the rents collected under any such reletting all of Landlord's reasonable expenses in connection with the termination of this Lease or Landlord's re-entry upon the Premises and in connection with such other slip without prejudice to Lessor's claim to damages or loss of rentals from Lessee. reletting as set forth in (b) Lessor may above. In addition, the Landlord shall be entitled to interest at the rate of eleven (11%) percent per annum on the total amounts due under this Section from the date payment was due until the date of payment; (d) Only if Landlord shall not have collected any monthly deficiencies as aforesaid, Landlord shall at its sole option, be entitled to recover all damages caused by Lessee's default which from Tenant, and Tenant shall include an amount pay Landlord, on demand, as and for liquidated and agreed final damages, a sum equal to rentals lost because the amount by which the Annual Rent and Additional Rent payable hereunder for the period which otherwise would have constituted the unexpired portion of the default. Lessor may ▇▇▇ periodically Term (conclusively presuming the Additional Rent to recover damages be the same as they occur throughout was payable for the lease term year immediately preceding such termination of re-entry) exceeds the then fair and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable to the remaining term of the lease. Such damages shall be measured by the difference between the rent under this lease and the reasonable rental value of the Slip Premises for the remainder of the termsame period, both discounted to the time of judgment at the prevailing interest on judgments. (c) Lessor may make any payment or perform any obligation which Lessee has failed to perform in which case Lessor shall be entitled to recover from Lessee upon demand all amounts so expended, plus interest from the then due date of the expenditure at the rate of one-and-one half five (5%) percent per monthannum. Any If, before presentation of proof of such payment liquidated damages to any court, commission or performance tribunal, the Premises, or any part thereof, shall have been relet by Lessor Landlord for the period which otherwise would have constituted the unexpired portion of the Term, or any part thereof, the amount of rent upon such reletting shall not waive Lessee's defaultbe deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the reletting; (e) In no event (i) shall Tenant be entitled to receive any excess of such Net Rent over the sums payable by Tenant to Landlord hereunder, or (ii) shall Tenant be entitled in any suit for the collection of damages pursuant to this Section to a credit in respect of any Net Rent from a reletting except to the extent that such Net Rent is actually received by Landlord prior to the commencement of such suit. If the Premises or any part thereof should be relet in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such reletting and of the expenses of reletting.

Appears in 1 contract

Sources: Lease Agreement (Priceline Com Inc)

Remedies for Default. In case of default as If a Default by the Buyer has occurred and is not cured within the cure period (if any) described in Section 6 Clause 13.2, Gascor may (without prejudice to any of its other rights in this lease, Lessor shall have the right to Agreement) exercise any or any combination of the following remedies which are intended to be cumulative and in addition to any other remedies provided under applicable lawas appropriate: (a) Lessor may at if the Default is a Material Financial Default, subject to giving [THIS PARAGRAPH CONTAINS CONFIDENTIAL INFORMATION WHICH HAS BEEN OMITTED, BUT FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION] Working Days' notice in writing to the Buyer stating its option intention to do so if the Default is not cured (and the Default is not cured within that notice period): (1) terminate the lease agreement between Gascor and the Buyer recorded by notice this Agreement, the Buyer's Agency Agreement and the Master Agreement; or (2) suspend any obligations which it owes to Lessee. With or without terminationthe Buyer under the agreement between Gascor and the Buyer recorded by this Agreement, Lessor may retake possession of the Slip by towing or removing any boats, watercraft, or other items at Buyer's Agency Agreement and the Dock and may use or relet Master Agreement until the Slip without accepting a surrender or waiving the right to damages. Following such retaking of possession, efforts by the Lessor to relet the Slip shall be sufficient if Lessor follows its usual procedures for finding lessees for the Slip at rates not less than the current rates for other comparable Slips at the Dock. If Lessor has other vacant slip(s) at the Dock, prospective Lessees may be placed in such other slip without prejudice to Lessor's claim to damages or loss of rentals from Lessee.Default is cured; (b) Lessor may recover all damages caused by Lessee's default which shall include an amount equal if the Default is a Retail Licence Default or a Solvency Default, subject to rentals lost because of the default. Lessor may ▇▇▇ periodically to recover damages as they occur throughout the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect giving notice in any one action to recover accrued damages plus damages attributable writing to the remaining term of Buyer stating its intention to do so: (1) terminate the lease. Such damages shall be measured by the difference agreement between the rent under this lease Gascor and the reasonable rental value of Buyer recorded by this Agreement, the Slip for Buyer's Agency Agreement and the remainder of the term, discounted Master Agreement; or (2) suspend any obligations which it owes to the time of judgment at Buyer under the prevailing interest on judgments.agreement between Gascor and the Buyer recorded by this Agreement, the Buyer's Agency Agreement and the Master Agreement until the Default is cured; (c) Lessor may make if the Default is a Non-financial Default which has a Material Adverse Effect, subject to giving [THIS PARAGRAPH CONTAINS CONFIDENTIAL INFORMATION WHICH HAS BEEN OMITTED, BUT FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION] Working Days' notice in writing to the Buyer stating its intention to do so if the Default is not cured (and the Default is not cured within that notice period): (1) terminate the agreement between Gascor and the Buyer recorded by this Agreement, the Buyer's Agency Agreement and the Master Agreement; or (2) suspend any payment obligations which it owes to the Buyer under the agreement between Gascor and the Buyer recorded by this Agreement, the Buyer's Agency Agreement and the Master Agreement until the Default is cured; (d) subject to Clause 13.4, ▇▇▇ the Buyer for damages for that Default; or (e) exercise all other available legal and equitable remedies (other than in respect of damages), including, without limitation, suing for specific performance, injunctive relief or perform any obligation which Lessee has failed to perform in which case Lessor shall be entitled to recover from Lessee upon demand all amounts so expended, plus interest from the date of the expenditure at the rate of one-and-one half percent per month. Any such payment or performance by Lessor shall not waive Lessee's defaultother orders as it deems appropriate.

Appears in 1 contract

Sources: Sub Sales Agreement (Txu Australia Holdings Partnership L P)

Remedies for Default. In case of For any default as described in Section 6 of Paragraph 15.1 that has continued beyond any applicable notice and cure periods afforded Tenant under this leaseLease, Lessor Landlord shall have the right right, during the continuance thereof, to pursue any one or more of the following remedies which are intended to be cumulative and remedies, in addition to all other rights or remedies provided herein or at law or in equity, without any notice or demand of any kind or nature whatsoever to Tenant or to any other remedies provided party liable, in whole or in part, for the performance of Tenant’s obligations under applicable lawthis Lease: (a) Lessor may at its option terminate the lease 15.2.1. Terminate this Lease by written notice to Lessee. With Tenant, in which event Tenant shall immediately surrender the Premises to Landlord, and if Tenant fails to do so, Landlord may, without prejudice to any other remedy which Landlord may have for possession or without terminationarrearages in Rent (including any interest and/or service charge which may have accrued thereon) and to the extent permitted by Applicable Laws, Lessor may retake enter upon and take possession of the Slip Premises and property therein, by towing picking or removing changing the locks if necessary, and lock out, expel and remove Tenant and/or any boatsother person or party who may be occupying all or any portion of the Premises, watercraftwithout being liable for prosecution or any claim for damages therefor (Tenant hereby waiving any claim by reason of such entry, taking possession or removal or by issuance of any distress warrant or writ of sequestration, or otherwise), and upon any such entry and taking possession by Landlord, Tenant’s right to possession of the Premises and leasehold estate and options hereunder shall immediately cease and terminate. Landlord shall be entitled to recover damages from Tenant by reason of any such termination of this Lease, including all such damages hereinafter described. 15.2.2. Terminate Tenant’s right of possession of the Premises (without terminating this Lease) and, without prejudice to any other items remedy which Landlord may have for possession or arrearages in Rent (including any interest and/or service charge which may have accrued thereon) and to the extent permitted by Applicable Laws, enter upon and take possession of the Premises and property therein, by picking or changing the locks if necessary, and lock out, expel and remove Tenant and/or any other person or party who may be occupying all or any portion of the Premises, without being liable for prosecution or any claim for damages therefor (Tenant hereby waiving any claim by reason of such entry, taking possession or removal or by issuance of any distress warrant or writ of sequestration, or otherwise). Notwithstanding any such entry by Landlord and termination of Tenant’s right of possession of the Premises as aforesaid, same shall not work a termination of this Lease, nor shall Tenant be relieved of its obligation to pay rentals and to perform its other obligations under this Lease, it being understood that Tenant shall remain liable for the payment of all rentals and other sums and charges due or to become due hereunder and for the performance of all other obligations of Tenant hereunder. On any such termination of Tenant’s right of possession of the Premises, Landlord may relet the Premises for the account of Tenant for such rent and on such terms and conditions as Landlord may determine; provided, however, that any such reletting by Landlord shall not be deemed as an acceptance of Tenant’s surrender of the Premises unless Landlord expressly notifies Tenant of such acceptance in writing, Tenant hereby acknowledging that Landlord shall be reletting as Tenant’s agent and Tenant furthermore agreeing to pay to Landlord on demand any deficiency. Landlord shall only be required to use the same efforts it then uses to lease other space or properties which it owns or manages; provided, however that Landlord shall not be required to give any preference or priority to the showing or leasing of the Premises over any other space that Landlord may be leasing or have available and may place a suitable prospective tenant in any such available space regardless of when such alternative space becomes available; provided, further, Landlord shall not be required to observe any instruction given by Tenant about such reletting or accept any tenant offered by Tenant unless such offered tenant has a credit worthiness acceptable to Landlord, leases the entire Premises, agrees to use the Premises in a manner consistent with this Lease and leases the Premises at the Dock and may use or relet the Slip without accepting a surrender or waiving the right to damages. Following such retaking of possessionsame rent, efforts by the Lessor to relet the Slip shall be sufficient if Lessor follows its usual procedures for finding lessees for the Slip at rates not less no more than the current rates term and on the same terms and conditions as in this Lease without any expenditure by Landlord for other comparable Slips at tenant improvements or broker’s commissions. In any such case, Landlord may, but shall not be required to, make repairs, alterations and additions in or to the Dock. If Lessor has other vacant slip(s) at Premises and redecorate the Dock, prospective Lessees may be placed in such other slip without prejudice same to Lessor's claim to damages the extent Landlord deems necessary or loss of rentals from Lesseedesirable. (b) Lessor may recover all damages caused 15.2.3. Except to the extent otherwise provided by Lessee's default which shall include an amount equal to rentals lost because applicable law, in the event of Landlord’s termination of this Lease or of Tenant’s right of possession of the default. Lessor may ▇▇▇ periodically to recover damages as they occur throughout the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable Premises pursuant to the remaining term provisions of the lease. Such damages shall be measured by the difference between the rent under this lease and the reasonable rental value of the Slip for the remainder of the termParagraphs 15.2.1 or 15.2.2, discounted to the time of judgment at the prevailing interest on judgments. (c) Lessor may make any payment or perform any obligation which Lessee has failed to perform in which case Lessor Landlord shall be entitled to recover from Lessee upon demand Tenant the following amounts as damages: (i) In the case of Landlord’s termination of this Lease, Tenant shall be liable for the immediate payment to Landlord of the sum of (A) all amounts so expended, plus interest from Rent accrued hereunder through the date of such termination, (B) all amounts due under Paragraph 15.2.3(iii), and (C) an amount equal to (1) the expenditure at then present value of the rate total Rent that Tenant would have been required to pay for the remainder of one-and-one half percent per month. Any the then current Lease term, minus (2) the then present value of the fair rental value of the Premises for such payment or performance period. (ii) In the case of Landlord’s termination of Tenant’s right of possession of the Premises without terminating this Lease, Tenant shall pay to Landlord (A) all Rent and other amounts accrued hereunder to the date of such termination of possession, (B) all amounts due from time to time under Paragraph 15.2.3(iii), and (C) all Rent and other sums required hereunder to be paid by Lessor Tenant during the remainder of the Lease Term as the same become due under this Lease, diminished by any net sums thereafter received by Landlord through reletting the Premises during such period; however, Landlord shall not waive Lessee's defaultbe liable for, nor shall Tenant’s obligations hereunder be diminished because of, Landlord’s inability to relet the Premises or to collect rent due for a reletting; provided, however, Landlord shall exercise commercially reasonable efforts to relet the Premises and to otherwise mitigate its damages. Tenant shall not be entitled to the excess of any consideration obtained by reletting over the Rent due hereunder. Reentry by Landlord in the Premises shall not affect Tenant’s obligations hereunder for the unexpired term of this Lease; rather, Landlord may, from time to time, bring action against Tenant to collect amounts due by Tenant, without the necessity of Landlord’s waiting until the expiration of the then current Lease term. Unless Landlord delivers written notice to Tenant expressly stating that it has elected to terminate this Lease, all actions taken by Landlord to exclude or dispossess Tenant of the Premises shall be deemed to be taken under this Paragraph 15.2.

Appears in 1 contract

Sources: Lease (ZS Pharma, Inc.)

Remedies for Default. In case of default Upon Lessee’s default, as described in Section 6 of this leasedefined above, Lessor shall have the right to the following remedies which are intended to be cumulative and have, in addition to any other rights or remedies provided under applicable lawit may have, the following remedies, all of which are cumulative: (a) A. Lessor may exercise the immediate right of re-entry and may secure said premises to prevent the removal of goods or equipment subject to a Lessor’s lien and may remove all persons or property from the premises and such property may be removed and stored in public warehouse or elsewhere at its option terminate the lease by cost of, and for the account of Lessee, all without service of notice or resort to Lesseelegal process and without being deemed guilty of trespass, or becoming liable for any loss or damage which may be occasioned thereby, and without terminating this lease. With or without termination, Lessor may retake take possession of the Slip by towing premises, which will not be deemed an acceptance of surrender of this lease or removing a waiver of any boatsrights or remedies of Lessor. B. Lessee shall pay Lessor upon demand: All rent and other payments accrued to the date of default, watercraft, or other items at including a proportionate part of the Dock and may use or relet the Slip without accepting a surrender or waiving the right to damages. Following such retaking of possession, efforts by the Lessor to relet the Slip shall be sufficient if Lessor follows its usual procedures for finding lessees rent otherwise payable for the Slip at rates not less than the current rates for other comparable Slips at the Dockmonth in which default occurs; ▇. If Lessor has other vacant slip(s) at the Dock, prospective Lessees may be placed in such other slip without prejudice to Lessor's claim to damages or loss of rentals from Lessee. (b) Lessor may recover all damages caused by Lessee's default which shall include an amount equal to rentals lost because of the default. Lessor may ▇▇▇▇▇▇ periodically may terminate this lease. In the event lessee defaults in the payment of rent or any other condition or covenant contained in this agreement, which remedy for default is not specifically addressed herein, the Lessor shall give the lessee notice to recover damages as they occur throughout cure such default within the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action following time: For failure to recover accrued damages plus damages attributable pay rent on time – 3 day notice to cure; For failure to repair damage – 15 day notice to cure; For failure to provide proof of insurance – 30 day notice; In the remaining term event of the lease. Such damages shall be measured by the difference between the rent under termination of this lease for whatever cause, lessee shall immediately quit and surrender to Lessor the reasonable rental value of demised premises, including all renovations and improvements and each and every part thereof and lessee’s rights and interests hereunder shall wholly cease and expire. In the Slip event Lessor shall accrue any legal fees as a result of, or for the remainder purpose of the termcuring Lessee’s default, discounted Lessee hereby agrees to the time of judgment at the prevailing interest on judgmentsreimburse Lessor for such attorney fees and court costs. (c) Lessor may make any payment or perform any obligation which Lessee has failed to perform in which case Lessor shall be entitled to recover from Lessee upon demand all amounts so expended, plus interest from the date of the expenditure at the rate of one-and-one half percent per month. Any such payment or performance by Lessor shall not waive Lessee's default.

Appears in 1 contract

Sources: Lease Agreement

Remedies for Default. (a) In case the event of any default or breach, LANDLORD, in addition to any other rights and remedies it may have, shall have the immediate right to re-enter the premises, by summary proceedings, to dispossess TENANT and all other occupants there-from and remove and dispose of all property therein in the manner provided by law, without LANDLORD being deemed guilty of or liable for same. LANDLORD shall also have the right, at its option and after notice, to immediately terminate this Lease, and to thereupon re-enter and take possession of said premises. In the event of any default or breach, LANDLORD shall also have the right, upon court order and at its option, from time to time, without terminating this Lease, to re-enter and re-let the premises, or any part thereof, as described the agent and for the account of TENANT upon such terms and conditions as LANDLORD may deem advisable or satisfactory, in Section 6 which event the rents received on such re-letting shall be applied first to the expenses of such re-letting and collection (including but not limited to necessary renovation and alterations of the premises, care of demised premises while vacant, reasonable attorney's fees, costs, out-of-pocket expenses, and any real estate commissions paid), and thereafter toward payment of all sums due or to become due LANDLORD hereunder; and if a sufficient sum shall not be thus realized or secured to pay such sums and other charges, (i) at LANDLORD'S option, TENANT shall pay LANDLORD any deficiency monthly, notwithstanding that LANDLORD may have received rental in excess of the rental stipulated in this Lease in previous or subsequent months, and LANDLORD may bring an action therefore as such monthly deficiency shall arise, or (ii) at LANDLORD'S option, the entire deficiency, which is subject to ascertainment for the remaining term of this leaseLease, Lessor shall be immediately due and payable by TENANT. Nothing herein, however, shall be construed to require LANDLORD to reenter and re-let in any event. The LANDLORD shall not be required to pay TENANT any surplus of any sums received by LANDLORD on a re-letting of said premises in excess of the rent provided in this Lease; (b) In the event of any default or breach, the LANDLORD, in addition to any other rights and remedies it may have, shall have the right, at its option, to declare the Rent for the entire remaining term, and other indebtedness, if any, immediately due and payable without regard to whether or not possession shall have been surrendered to or taken by LANDLORD, and may commence action immediately thereupon and recover judgment therefore; (c) LANDLORD, in addition to any other rights and remedies it may have, shall have the right to remove all or any part of TENANT'S property from said premises. Any property removed may be stored in any public warehouse or elsewhere at the following remedies cost of and for the account of TENANT, and LANDLORD shall not be responsible for the care or safekeeping thereof. TENANT hereby waives any claim for any and all loss, destruction and/or damage or injury in which are intended may be occasioned by any of the aforesaid acts. (d) No re-entry or taking possession of said premises by LANDLORD shall be construed as an election on LANDLORD'S part to terminate this Lease, unless a written notice of such intention is given to TENANT. Notwithstanding any such re-letting without termination, LANDLORD may at all times thereafter elect to terminate this Lease for any default or breach. Any re-entry shall be allowed by TENANT after court order without hindrance, and LANDLORD shall not be liable for damages for any such re-entry, or guilty of trespass; (e) Any and all rights, remedies, and options given in this Lease to LANDLORD shall be cumulative and in addition to and without waiver of or in derogation of any other remedies provided under applicable law: (a) Lessor may at its option terminate the lease by notice right or remedy given to Lessee. With or without termination, Lessor may retake possession of the Slip by towing or removing any boats, watercraft, or other items at the Dock and may use or relet the Slip without accepting a surrender or waiving the right to damages. Following such retaking of possession, efforts by the Lessor to relet the Slip shall be sufficient if Lessor follows its usual procedures for finding lessees for the Slip at rates not less than the current rates for other comparable Slips at the Dock. If Lessor has other vacant slip(s) at the Dock, prospective Lessees may be placed in such other slip without prejudice to Lessor's claim to damages or loss of rentals from Lessee. (b) Lessor may recover all damages caused by Lessee's default which shall include an amount equal to rentals lost because of the default. Lessor may ▇▇▇ periodically to recover damages as they occur throughout the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable to the remaining term of the lease. Such damages shall be measured by the difference between the rent LANDLORD under this lease and the reasonable rental value of the Slip for the remainder of the term, discounted to the time of judgment at the prevailing interest on judgmentsLease or any law now or hereafter in effect. (c) Lessor may make any payment or perform any obligation which Lessee has failed to perform in which case Lessor shall be entitled to recover from Lessee upon demand all amounts so expended, plus interest from the date of the expenditure at the rate of one-and-one half percent per month. Any such payment or performance by Lessor shall not waive Lessee's default.

Appears in 1 contract

Sources: Warehouse Lease Agreement (Sense Holdings Inc)

Remedies for Default. In case A. Upon the happening of any event of default as described in Section 6 of this leasehereinabove described, Lessor Landlord shall have the right to the following remedies which are intended to be cumulative right, at its election, then or at any time thereafter and in addition to while any other remedies provided under applicable lawsuch event of default shall continue, either: (a1) Lessor may at its option To give Tenant written notice of intention to terminate this Lease on the lease by date of giving notice or on any later date specified therein, whereupon Tenant's right to Lessee. With or without termination, Lessor may retake possession of the Slip by towing Premises shall cease and this Lease shall be terminated, except as to Tenant's liability, as if the expiration of the term fixed in such notice were the end of the term herein originally demised; or (2) To re-enter and take possession of the Premises and repossess the same as of Landlord's former estate, and expel Tenant and those claiming through or removing under Tenant, and remove the effects of both, and without prejudice to any boats, watercraftremedies for arrears of Rent. Should Landlord elect to re-enter as provided in this subparagraph (2), or other items at the Dock and may should Landlord take possession pursuant to legal proceedings or pursuant to any notice provided for by law, Landlord shall without terminating this Lease, use or relet the Slip without accepting a surrender or waiving the right to damages. Following such retaking of possession, reasonable efforts by the Lessor to relet the Slip shall be sufficient if Lessor follows its usual procedures for finding lessees Premises in Landlord's or Tenant's name, but for the Slip at rates not account of Tenant, for such term or terms (which may be greater or less than the current rates for other comparable Slips at period which would otherwise have constituted the Dock. If Lessor has other vacant slip(sbalance of the term of this Lease) at the Dock, prospective Lessees may be placed in and on such conditions and upon such other slip terms as Landlord may reasonably determine, and Landlord may collect and receive the rents therefor. Landlord shall in no way be responsible or liable for any failure to relet the Premises after exercising good faith efforts therefor, but shall make every reasonable effort to mitigate its damages. No such re-entry or taking possession of the Premises by Landlord shall be construed as an election on Landlord's part to terminate this Lease unless a written notice of such intention is given to Tenant. No notice from Landlord hereunder or under a forcible entry and detainer statute or similar law shall constitute an election B. In the event that Landlord does not elect to terminate this Lease and elects to take possession as provided in subparagraph A(2) hereof, Tenant shall pay to Landlord (i) the Rent and other sums as herein provided, which would be payable hereunder if such repossession had not occurred, less (ii) the net proceeds, if any, of any reletting of the Premises after deducting Landlord's reasonable expenses in connection with such reletting, including, but without prejudice limitation, all repossession costs, brokerage commissions, reasonable attorneys' fees, alteration and repair costs and expenses of preparation for such reletting. If, in connection with any reletting, the new lease term extends beyond the existing term, or the Premises covered thereby include other premises not part of the Premises, a fair apportionment of the Rent received from such reletting and the expenses incurred in connection therewith will be made in determining the net proceeds from such reletting. Any Rent concessions will be apportioned over the term of the new lease. Tenant shall pay such Rent and other sums to Lessor's claim Landlord monthly on the days on which the Rent would have been payable hereunder if possession had not been retaken, and Landlord shall be entitled to damages or loss of rentals receive the same from LesseeTenant on each such day. (bC. In the event that this Lease is terminated as a result of an uncured default by Tenant, as permitted in subparagraph A(1) Lessor may recover all hereof, Tenant shall remain liable to Landlord for damages caused by Lessee's default which shall include in an amount equal to rentals lost because the Rent and other sums which would have been owed by Tenant hereunder for the balance of the term had this Lease not been terminated, less the net proceeds, if any, of any reletting of the Premises by Landlord subsequent to such termination, after deducting all Landlord's expenses in connection with such reletting, including, but without limitation, the expenses enumerated above. Landlord shall be entitled to collect such damages from Tenant monthly on the days on which the Rent and other amounts would have been payable hereunder if this Lease had not been terminated, and Landlord shall be entitled to receive the same from Tenant on each such day. Landlord agrees to use good faith efforts to mitigate its damages in the event of Tenant's default. Lessor may ▇▇▇ periodically to recover damages as they occur throughout the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable to the remaining term of the lease. Such damages shall be measured by the difference between the rent under this lease and the reasonable rental value of the Slip for the remainder of the termAlternatively, discounted to the time of judgment at the prevailing interest on judgments. (c) Lessor may make any payment or perform any obligation which Lessee has failed to perform in which case Lessor option of Landlord, Landlord shall be entitled to recover forthwith against Tenant, as damages for the loss of the bargain and not as a penalty, an aggregate sum which, at the time of such termination of this Lease, represents the amount, if any, by which the aggregate of the Rent and all other sums payable by Tenant hereunder which would have accrued for the balance of the term exceeds the aggregate rental value of the Premises (such rental value to be computed on the basis of a tenant paying not only Rent, but also such other charges as are required to be paid by Tenant under the terms of this Lease) for the balance of such term, both discounted to present worth at the Federal Reserve discount rate plus one percent (1%). D. Suit or suits for the recovery of the amounts and damages set forth herein may be brought by Landlord, from Lessee upon demand all amounts so expendedtime to time, plus interest from at Landlord's election; and nothing herein shall be deemed to require Landlord to await the date that this Lease or the term hereof would E. No failure by Landlord to insist upon the strict performance of any agreement, term, covenant or condition hereof or to exercise any right or remedy consequent upon a breach thereof, and no acceptance of full or partial Rent during the continuance of any such breach, shall constitute a waiver of any such breach or any such agreement, term, covenant or condition. No agreement, term, covenant or condition hereof to be performed or complied with by Tenant, and no breach thereof, shall be waived, altered or modified except by written instrument executed by Landlord. No waiver of any breach shall affect or alter this Lease; but each and every agreement, term, covenant and condition hereof shall continue in full force and effect with respect to any other then existing or subsequent breach. Notwithstanding any termination of this Lease, the same shall continue in full force and effect as to any provisions hereof which require observance or performance by Landlord or Tenant subsequent to termination. (1) Nothing contained in this Paragraph 17 shall limit or prejudice the right of Landlord to prove and obtain as liquidated damages in any bankruptcy, insolvency, receivership, reorganization or dissolution proceeding an amount equal to the maximum allowed by any statute or rule of law governing such proceeding and in effect at the time when such damages are to be proved. (2) Notwithstanding anything in this Paragraph 17 to the contrary, any such proceeding or action involving bankruptcy, insolvency, reorganization, arrangement, assignment for the benefit of creditors, or appointment of a receiver or trustee, as specified in subparagraphs 16D and 16E above, shall be considered to be an event of default only when such proceeding, action or remedy shall be taken or brought by or against the then holder of the expenditure leasehold estate under this Lease. F. Any rents or other amounts owing hereunder which are not paid within 30 days after they are due shall bear interest at the rate of one-and-one half percent 10% per month. Any annum from the 31st day after the due date of such payment until received by Landlord. Similarly, any amounts paid by Landlord to cure any defaults of Tenant hereunder, which Landlord shall have the right, but G. Landlord hereby waives any statutory or common law rights it may have granting Landlord a lien or the right to foreclose on the personal property of Tenant and/or the tenant improvements installed in the Premises by Tenant. H. If Landlord is in default in the performance by Lessor shall of its obligations under this Lease and such default is not waive Lesseecured within 30 days after written notice thereof, Tenant may at its option upon 10 days' prior written notice to Landlord terminate this Lease, or may incur any expense and deduct the monies owed from Rent and any other amounts due under this Lease. Landlord's defaultperformance of each and every one of its conditions, covenants and agreements in this Lease is a condition precedent to Landlord's right to enforce this Lease.

Appears in 1 contract

Sources: Lease Agreement (Rentx Industries Inc)

Remedies for Default. In case If Seller is in default or material breach under the terms of default the Agreement or if Seller terminates the Agreement as described provided in Section 6 9 of this leaseAddendum, Lessor shall have the right to the following remedies which are intended to be cumulative and in addition to any other remedies provided under applicable law: (a) Lessor may at its option terminate either case the lease by notice to Lessee. With or without terminationtransaction does not close, Lessor may retake possession of the Slip by towing or removing any boats, watercraft, or other items at the Dock and may use or relet the Slip without accepting a surrender or waiving the right to damages. Following such retaking of possession, efforts by the Lessor to relet the Slip shall be sufficient if Lessor follows its usual procedures for finding lessees for the Slip at rates not less than the current rates for other comparable Slips at the Dock. If Lessor has other vacant slip(s) at the Dock, prospective Lessees may be placed in such other slip without prejudice to Lessor's claim to damages or loss of rentals from Lessee. (b) Lessor may recover all damages caused by Lessee's default which shall include an amount equal to rentals lost because of the default. Lessor may ▇▇▇ periodically to recover damages as they occur throughout the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable to the remaining term of the lease. Such damages shall be measured by the difference between the rent under this lease and the reasonable rental value of the Slip for the remainder of the term, discounted to the time of judgment at the prevailing interest on judgments. (c) Lessor may make any payment or perform any obligation which Lessee has failed to perform in which case Lessor Buyer shall be entitled to recover from Lessee upon demand all amounts so expended, plus interest from the date return of the expenditure ▇▇▇▇▇▇▇ Money Deposit as Buyer’s sole and exclusive remedy at law and/or equity. Buyer waives any rights to file and maintain an action against Seller for specific performance and Buyer acknowledges that the rate return of one-and-one half percent per month▇▇▇▇▇’s ▇▇▇▇▇▇▇ Money Deposit will adequately and fairly compensate Buyer. Any such payment or performance by Lessor Upon return of the ▇▇▇▇▇▇▇ Money Deposit to Buyer, the Agreement shall be terminated, and Buyer and Seller shall not waive Lessee's defaulthave any further liability or obligation to each other with respect to the Agreement except as to any provision that survives the termination of the Agreement pursuant to Section 31 of this Addendum. Buyer agrees that Seller shall not be liable to Buyer for any special, consequential or punitive damages whatsoever, whether in contract, tort (including negligence and strict liability) or any other legal or equitable principle, including but not limited to, any cost or expense incurred by Buyer in selling or surrendering a lease on a current or prior residence, obtaining other living accommodations, moving, storage or relocation expenses or any other such expenses or cost arising from or related to the Agreement or this Addendum or breach of the Agreement. BUYER AND SELLER AGREE THAT IF BUYER FAILS TO COMPLETE THE PURCHASE OF THE PROPERTY BY REASON OF ANY DEFAULT OF BUYER, AS DETERMINED BY SELLER IN ITS SOLE DISCRETION: (a) SELLER SHALL BE RELEASED FROM ANY OBLIGATION TO SELL THE PROPERTY TO BUYER; AND (b) BUYER AND SELLER EXPRESSLY AGREE THAT IT WOULD BE EXTREMELY DIFFICULT TO DETERMINE SELLER’S ACTUAL DAMAGES AS A RESULT OF SUCH DEFAULT BY BUYER, THEREFORE, THE PARTIES AGREE THAT SELLER SHALL RETAIN AS LIQUIDATED DAMAGES AND NOT AS A PENALTY AND AS A REASONABLE PRE-ESTIMATE OF SELLER’S ACTUAL DAMAGES FOR BREACH OF THE AGREEMENT AN AMOUNT EQUAL TO THE ▇▇▇▇▇▇▇ MONEY DEPOSIT, OR SUCH LESSER AMOUNT AS PROVIDED BY APPLICABLE LAW AND ANY EXCESS SHALL BE RETURNED TO BUYER.

Appears in 1 contract

Sources: Seller’s Auction Addendum to Real Estate Purchase Contract and Release of Claims

Remedies for Default. In case the event of default the occurrence of an event of default, as described defined in Section 6 20.1, in addition to all other rights and remedies available to Landlord under this Lease or under law, Landlord shall have the following remedies: 20.2.1. At any time following an event of default, Landlord may, at Landlord's option, elect to terminate this leaseLease by written notice to Tenant specifying Landlord's intention to terminate this Lease, Lessor which notice may, but need not be, included in a notice of intention to evict or pleading in an eviction action. Notice of termination shall be served in the manner specified in Section 27.9, or any manner authorized for service of any pleading or notice of intention to evict. Following service of the notice of termination, Tenant shall have the right to reinstate this Lease by paying to Landlord all fixed minimum rent, percentage rent, additional rentals, late charges and all other fees and charges payable under this Lease and curing all other events of default under this Lease, by no later than 11:59 p.m of the tenth business day following remedies which are either: i) personal delivery of notice of termination to Tenant's manager or assistant manager; ii) service of the notice of termination on Tenant by facsimile transmission; iii) the expiration of one full day after mailing of notice of termination; or iv) such later day as specified by Landlord in the notice of termination. For the purpose of this provision, a "business day" shall be each Monday through Friday, inclusive, but shall not include any federally recognized banking holiday for New Years, Christmas, Memorial Day, Independence Day, Fourth of July or Thanksgiving. Landlord shall be under no obligation to reinstate this Lease if Tenant fails to cure all events of default within the time and in the manner required herein. Unless Tenant reinstates this Lease in the time and in the manner provided above, termination of this Lease will be effective, without further notice and without the necessity of any legal suit or action, upon the expiration of the period Tenant is allowed to reinstate this Lease. Delivery of Landlord's notice of termination under this provision is intended to satisfy any common law requirements relating to service of notice of default or demand for payment of rents prior to terminating a lease, and no further notice to quit, vacate, demand or legal process shall be cumulative necessary to terminate this Lease, whether or not any additional notice may be required by law as a condition to obtaining an order evicting Tenant from the Premises. Following the effective time of termination, Tenant shall have no further interest in the Premises or in this Lease, or any right to rents or profits generated by Landlord from the Premises and, subject to Landlord's right to recover damages under Subsection 20.3.2, Tenant shall not be liable to Landlord for fixed minimum rent, percentage rent, or additional rents which first accrue after the effective date of termination. Rents and other charges paid to Landlord for the post-termination use or occupancy of all or any portion of the Premises shall not reduce Tenant's obligations to pay all rents and other charges which accrued prior to the effective date of termination. No attempt by Tenant to cure defaults under this Lease following expiration of the time to cure defaults shall be valid. Landlord's acceptance of rent following expiration of the period of curing a default shall not, unless otherwise agreed by Landlord in addition writing, constitute reinstatement of this Lease, and any post-termination rental payments received or recovered by Landlord shall be applied by Landlord to satisfy Tenant's obligations under this Lease, without affecting the termination of this Lease. 20.2.2. At any other remedies provided under applicable law: (a) Lessor may time following an event of default, Landlord, shall, at its option terminate option, have the lease by notice immediate right to Lessee. With re-enter the Premises, with or without terminationlegal process, Lessor and without terminating this Lease. Should Landlord elect to re-enter, it may take such steps as it deems necessary to secure the Premises and to exclude Tenant and its agents and employees therefrom; make such alterations and repairs as may be necessary in order to relet the premises; and relet the Premises or any part thereof, on behalf of Tenant, for such term or terms (which may be for a term extending beyond the term of this Lease) and at such rental and upon such other terms and conditions as Landlord, in its sole discretion, may deem advisable. Notwithstanding re-entry by Landlord, and until termination of this Lease, Tenant's obligations under this Lease shall remain in full force and effect and, unless Landlord has agreed to lease or otherwise convey all or any portion of the Premises, Tenant shall have the right to reinstate this Lease and retake possession of the Slip Premises by towing or removing any boats, watercraft, or other items at the Dock curing all events of default and may use or relet the Slip without accepting a surrender or waiving the right to damagespaying all late charges and legal fees due under this Lease. Following such retaking of possession, efforts Any rents collected by the Lessor to relet the Slip Landlord following re-entry shall be sufficient if Lessor follows its usual procedures for finding lessees for the Slip at rates not less than the current rates for other comparable Slips at the Dock. If Lessor has other vacant slip(s) at the Dock, prospective Lessees may be placed applied as provided in such other slip without prejudice to Lessor's claim to damages or loss of rentals from Lesseesubsection 20.3. (b) Lessor may recover all damages caused by Lessee's default which shall include an amount equal to rentals lost because of the default. Lessor may ▇▇▇ periodically to recover damages as they occur throughout the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable to the remaining term of the lease. Such damages shall be measured by the difference between the rent under this lease and the reasonable rental value of the Slip for the remainder of the term, discounted to the time of judgment at the prevailing interest on judgments. (c) Lessor may make any payment or perform any obligation which Lessee has failed to perform in which case Lessor shall be entitled to recover from Lessee upon demand all amounts so expended, plus interest from the date of the expenditure at the rate of one-and-one half percent per month. Any such payment or performance by Lessor shall not waive Lessee's default.

Appears in 1 contract

Sources: Ground Lease (Founders Food & Firkins LTD /Mn)

Remedies for Default. In case the event of default as described in Section 6 termination far of this leaseLease or otherwise, Lessor shall have default under any of the right provisions Tenant covenants and agrees to pay forthwith to Landlord, at Landlord's election, a single lump sum payment equal to the following remedies which are intended sum of (i) all Annual Fixed Rent, additional rent and all other sums due hereunder to be cumulative and in addition to any other remedies provided under applicable law: the date of payment, plus (aii) Lessor may at its option terminate the lease by notice to Lessee. With or without termination, Lessor may retake possession excess of the Slip by towing or removing any boats, watercraft, or other items at then present value to Landlord of the Dock and may use or relet the Slip without accepting a surrender or waiving the right to damages. Following such retaking of possession, efforts by the Lessor to relet the Slip shall be sufficient if Lessor follows its usual procedures for finding lessees rent reserved for the Slip at rates not less than the current rates for other comparable Slips at the Dock. If Lessor has other vacant slip(s) at the Dock, prospective Lessees may be placed in such other slip without prejudice to Lessor's claim to damages or loss of rentals from Lessee. (b) Lessor may recover all damages caused by Lessee's default which shall include an amount equal to rentals lost because residue of the default. Lessor may ▇▇▇ periodically to recover damages as they occur throughout Term over the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable to the remaining term then present value of the lease. Such damages shall be measured by the difference between the rent under this lease and the reasonable fair marker rental value of the Slip Premises for said residue of the Term (which fair market rental value shall take into account Landlord's reasonable expenses of reletting described below). The present value to Landlord shall be calculated as though the Term had not been terminated, and shall be a discounted value based on the projected periodic rent which would have come due hereunder: fair market rental value shall likewise be a discounted value. (for the remainder purpose of calculating the additional rent which would have been paid hereunder for the lump sum calculation, the last full year's charges for additional rent is to be deemed constant for each year thereafter. The Federal Reserve discount rate (or equivalent) shall be used in calculating present values.) Should the parties be unable to agree on a fair market rental value, the matter shall be submitted, upon the demand of either party, to the Boston, Massachusetts office of the termAmerican Arbitration Association, discounted to with a request for arbitration by a single arbitrator who shall be an MAI or ASREC appraiser who has had at least 10 years experience in the time leasing, owning or management of judgment at least 1,000,000 square feet of office space in the Greater Boston area, in accordance with the rules of the Association. The parties agree that a decision of the arbitrator shall be conclusive and binding upon them. If, at the prevailing interest on judgments. (c) Lessor may make any payment end of the Term, the rent which Landlord has actually received from the premises is less than the aggregate fair market rent estimated as aforesaid, Tenant shall thereupon pay Landlord the amount of such difference. Unless Landlord elects such lump sum payment, Tenant covenants, as an additional cumulative obligation after such termination, to pay punctually to Landlord all the sums and so long as Tenant, or persons claiming under Tenant, remains in possession perform any obligation all the obligations which Lessee has failed Tenant covenants in this Lease to pay and to perform in which case Lessor the same manner and to the same extent and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence Tenant shall be entitled credited with the net proceeds of any rent received by Landlord by reletting the Premises, after deducting all Landlord's reasonable expenses in connection with such reletting, including without limitation, all repossession costs, brokerage commissions, fees for legal services, tenant allowances and expenses of preparing the Premises for reletting, it being agreed by Tenant that Landlord may (i) relet the Premises or any part or parts thereof for a term or terms which may at Landlord's option be equal to recover from Lessee upon demand all amounts so expended, plus interest from or less than or exceed the date period which would otherwise have constituted the balance of the expenditure at Term, and may grant such concessions as Landlord in its sole judgment considers advisable or necessary, and (ii) make such alterations, repairs and decorations in the rate Premises as Landlord in its sole judgment considers advisable or necessary, and no action of one-and-one half percent per monthLandlord in accordance with the foregoing or failure to relet or to collect rent under any reletting shall operate or be construed to release or reduce Tenant's liability as aforesaid. Any such payment or performance obligation to relet the Premises imposed upon Landlord by Lessor law shall not waive Lesseebe subject to Landlord's defaultreasonable objectives of developing its property in a harmonious manner with appropriate mixes of tenants, uses, floor areas, terms, etc.

Appears in 1 contract

Sources: Lease Agreement (Circe Biomedical Inc)

Remedies for Default. In case Upon the occurrence of default as described in Section 6 an Event of this leaseDefault, Lessor the Lender shall have the right to the following remedies which are intended to be cumulative and in addition to any other remedies provided under applicable lawremedies: (a) Lessor The Lender may at its option terminate the lease by notice elect to Lessee. With or without termination, Lessor may retake possession exercise any and all of the Slip by towing Borrower's rights and remedies under the Additional Collateral, without any interference or removing any boatsobjection from the Borrower, watercraft, or other items at and the Dock Borrower shall cooperate in causing the Contractors to comply with all the terms and may use or relet conditions of the Slip without accepting a surrender or waiving the right to damages. Following such retaking of possession, efforts by the Lessor to relet the Slip shall be sufficient if Lessor follows its usual procedures for finding lessees for the Slip at rates not less than the current rates for other comparable Slips at the Dock. If Lessor has other vacant slip(s) at the Dock, prospective Lessees may be placed in such other slip without prejudice to Lessor's claim to damages or loss of rentals from LesseeContracts. (b) Lessor The Lender may recover all damages caused enforce this Assignment by Lessee's default which shall include an amount equal to rentals lost because notifying the Borrower by registered or certified mail sent in accordance with the notice provision of the defaultLoan Agreement. Lessor may ▇▇▇ periodically to recover damages as they occur throughout the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable to the remaining term The affidavit or written statement of an officer, agent or attorney of the lease. Such damages Lender stating that there has been an Event of Default shall be measured by the difference between the rent under this lease constitute conclusive evidence thereof, and the reasonable rental value any of the Slip for Governmental Authorities, the remainder of Contractors, the term, discounted Sellers or the Purchasers and Lessees or any other person is authorized and directed to the time of judgment at the prevailing interest on judgmentsrely thereon. (c) Lessor may make any payment or perform any obligation which Lessee has failed If and to perform in which case Lessor shall be entitled to recover from Lessee upon demand all amounts so expended, plus interest from the date extent permitted by law and the terms of the expenditure Additional Collateral, the Lender may, with or without entry upon the Property, at its option, take over and enjoy the rate benefits of one-and-one half percent per monthall or part of the Additional Collateral (including, without limitation, taking possession of the Development Information), exercise the Borrower's rights under the Additional Collateral (including, without limitation, taking possession of the Development Information), and perform all acts in the same manner and to the same extent as the Borrower might do. Any In connection with any and all of the foregoing powers, and without limiting the same, the Lender may effect new Contracts, Licenses, Acquisition Agreements and Conveyance Agreements, cancel or surrender existing Contracts, Licenses, Acquisition Agreements or Conveyance Agreements, alter and amend the terms of and renew existing Contracts, Licenses, Acquisition Agreements and Conveyance Agreements, and make concessions to the Governmental Authorities, the Contractors, the Sellers and the Purchasers and Lessees. The Borrower hereby releases any and all claims that it has or might have against the Lender arising out of such payment or performance by Lessor shall not waive Lessee's defaultthe Lender. (d) The Lender may do and perform all other acts that Lender may deem necessary or proper, in its sole and absolute discretion, to protect its security, including, without limitation, the Additional Collateral.

Appears in 1 contract

Sources: Loan Agreement (Transeastern Properties Inc)

Remedies for Default. In case Should the Tenant violate any of default as described in Section 6 the covenants, terms and conditions of this leaseRental Agreement, Lessor (other than a breach that materially affects health and safety or the requirement to pay rent as provided in the Rental Agreement), or should there be any misstatement or untruth in the application made by the Tenant, the Landlord shall have the right option to deliver written notice to Tenant specifying the following remedies which acts or omissions constituting the breach of the Rental Agreement and declaring that the Rental Agreement will terminate upon a date not less than seven (7) business days. If the breach is not remedied within seven (7) business days the Rental Agreement will terminate on the date specified in the notice. It is further acknowledged and agreed by Tenant that a breach of the Rental Agreement that is based upon an illegal or immoral act or incidences of disturbing neighbors on more than two (2) occasions within a six (6) month period due to excessive loud noise, cannot be cured or remedied by Tenant, and thus, Tenant can not stop the termination of the Rental Agreement or eviction by remedying or curing the default. It is further acknowledged and agreed by Tenant that some other breaches of the Rental Agreement by the very nature of the breach, can not be cured or remedied by Tenant, and thus, Tenant cannot stop the termination of the Rental Agreement or eviction by remedying or curing the default. RULES & REGULATIONS: The Tenant(s) understands that this lease may be subject to additional Rules & Regulations as implemented by the Landlord. In the event that such are intended implemented by the Landlord, the Landlord will provide a written copy of any and all such Rules & Regulations to be cumulative and in addition to any other remedies provided under applicable law: (a) Lessor may at its option terminate the lease by notice to Lesseefollowed for these premises. With or without termination, Lessor may retake possession of the Slip by towing or removing any boats, watercraft, or other items at the Dock and may use or relet the Slip without accepting a surrender or waiving We reserve the right to damagescancel this lease by giving thirty (30) days written notice in the event a sale is made of the premises. Following such retaking OUTSIDE FURNITURE OR ITEMS. Do not use furniture or appliances that are not manufactured for outdoor use on the outside of possessionyour house or apartment. Tuscaloosa City Code of Ordinances, efforts by the Lessor to relet the Slip Sec. 13-67.2: It shall be sufficient if Lessor follows its usual procedures unlawful for finding lessees for any person residing in or having charge or control of any dwelling within the Slip at rates not less than the current rates for other comparable Slips at the Dock. If Lessor has other vacant slip(s) at the Dock, prospective Lessees may be placed City of Tuscaloosa to leave or permit to remain outside of any such dwelling any household appliances or household further in such other slip without prejudice to Lessor's claim to damages or loss of rentals from Lessee. (b) Lessor may recover all damages caused by Lessee's default which shall include an amount equal to rentals lost because of a manner that the default. Lessor may ▇▇▇ periodically to recover damages as they occur throughout the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable same are exposed to the remaining term elements. Landlord must first approve in writing any outside furniture or items left in view of the lease. Such damages shall be measured by the difference between the rent under this lease and the reasonable rental value of the Slip for the remainder of the term, discounted to the time of judgment at the prevailing interest on judgmentspublic. (c) Lessor may make any payment or perform any obligation which Lessee has failed to perform in which case Lessor shall be entitled to recover from Lessee upon demand all amounts so expended, plus interest from the date of the expenditure at the rate of one-and-one half percent per month. Any such payment or performance by Lessor shall not waive Lessee's default.

Appears in 1 contract

Sources: Residential Lease

Remedies for Default. Upon the occurrence of any Tenant event of default, Landlord has the option to pursue anyone or more of the following: 21.02.01. In case addition to, and without limiting any other remedies available to Landlord at law or in equity, immediately terminate this Lease and all rights of default as described in Section 6 of this leaseTenant hereunder. Upon termination, Lessor shall have ▇▇▇▇▇▇ must immediately surrender the right Premises to the following remedies which are intended Landlord. If Tenant fails to be cumulative and in addition do so, Landlord may, without prejudice to any other remedies provided remedy, enter and take possession of the Premises or any part thereof and expel or remove Tenant and any other person who may be occupying the Premises or any part thereof, by force if necessary, without being liable for prosecution or any claim of damages. 21.02.02. Enter upon and take possession of the Premises or any part thereof and expel or remove ▇▇▇▇▇▇ and any other person who may be occupying said Premises or any part thereof, by force if necessary, without being liable for prosecution or any claim for damages therefor without having terminated the Lease. 21.02.03. Enter upon the Premises, by force if necessary, without being liable for prosecution or any claim for damages, and do whatever Tenant is obligated to do under applicable lawthe terms of this Lease. In such case, ▇▇▇▇▇▇ must reimburse Landlord on demand for expenses Landlord may incur in thus effecting compliance with Tenant’s obligations. Landlord is not liable for any damages resulting to the Tenant from such action. 21.02.04. Alter all locks and other security devices at the Premises without terminating this Lease. If Landlord does so: (ai) Lessor may at its option terminate Landlord need not allow Tenant re-entry to the lease by notice to Lessee. With Premises or without termination, Lessor may retake possession of the Slip by towing or removing provide Tenant with a new key unless and until Tenant cures any boats, watercraft, or other items at the Dock and may use or relet the Slip without accepting a surrender or waiving the right to damages. Following such retaking of possession, efforts by the Lessor to relet the Slip shall be sufficient if Lessor follows its usual procedures for finding lessees for the Slip at rates not less than the current rates for other comparable Slips at the Dock. If Lessor has other vacant slip(s) at the Dock, prospective Lessees may be placed in such other slip without prejudice to Lessor's claim to damages or loss of rentals from Lessee.all defaults under this Lease, (bii) Lessor Landlord may recover all damages caused refuse to give Tenant a new key unless Tenant establishes a security deposit by Lessee's default which shall include an amount equal to rentals lost because of determined by Landlord, (iii) If Landlord does provide Tenant with a key, it will do so only during the defaultLandlord’s regular business hours, and (iv) Tenant must pay Landlord all costs and expenses incurred by Landlord in connection with altering the locks and other security devices. Lessor may ▇▇▇ periodically to recover damages as they occur throughout the lease term ▇▇▇▇▇▇’s remedies and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable to the remaining term of the lease. Such damages shall be measured by the difference between the rent rights under this lease Lease entirely supersede and supplant the reasonable rental value provisions of the Slip for the remainder of the term, discounted to the time of judgment at the prevailing interest on judgmentsTexas Property Code § 93.002. (c) Lessor may make any payment or perform any obligation which Lessee has failed to perform in which case Lessor shall be entitled to recover from Lessee upon demand all amounts so expended, plus interest from the date of the expenditure at the rate of one-and-one half percent per month. Any such payment or performance by Lessor shall not waive Lessee's default.

Appears in 1 contract

Sources: Retail Lease

Remedies for Default. In case of default as described in Section 6 of this lease, Lessor shall have the right to the following remedies which are intended to be cumulative and in addition to any other remedies provided under applicable law: (a) Lessor may at its option terminate the lease by notice to LesseeIF SELLER COMMITS A DEFAULT PRIOR TO CLOSING, INCLUDING ANY BREACH OF WARRANTY, PURCHASER MUST, AS ITS SOLE REMEDY, EITHER (a) TERMINATE THIS AGREEMENT AND RECEIVE THE RETURN OF THE DEPOSIT, (b) ENFORCE SPECIFIC PERFORMANCE OF THIS AGREEMENT OR (c) IF, AND ONLY IF, SPECIFIC PERFORMANCE IS NOT AVAILABLE AS A REMEDY, RECEIVE THE RETURN OF THE DEPOSIT AND ▇▇▇ SELLER FOR DAMAGES NOT TO EXCEED FIVE HUNDRED THOUSAND DOLLARS ($500,000). With or without terminationPURCHASER MUST SEND SELLER WRITTEN NOTICE OF WHICH REMEDY PURCHASER ELECTS TO PURSUE WITHIN TEN (10) DAYS AFTER PURCHASER’S KNOWLEDGE OF SELLER’S DEFAULT. IF PURCHASER DOES NOT SO ELECT OR IF PURCHASER ELECTS TO PURSUE LITIGATION AS ITS REMEDY AND DOES NOT COMMENCE THE LITIGATION WITHIN THIRTY (30) DAYS AFTER NOTIFYING SELLER THAT PURCHASER IS ELECTING LITIGATION AS ITS REMEDY, Lessor may retake possession of the Slip by towing or removing any boats, watercraft, or other items at the Dock and may use or relet the Slip without accepting a surrender or waiving the right to damages. Following such retaking of possession, efforts by the Lessor to relet the Slip shall be sufficient if Lessor follows its usual procedures for finding lessees for the Slip at rates not less than the current rates for other comparable Slips at the Dock. If Lessor has other vacant slip(s) at the Dock, prospective Lessees may be placed in such other slip without prejudice to Lessor's claim to damages or loss of rentals from LesseePURCHASER’S SOLE REMEDY WILL BE TO TERMINATE THIS AGREEMENT AND RECEIVE THE RETURN OF THE DEPOSIT. (b) Lessor may recover all damages caused by Lessee's default which shall include an amount equal to rentals lost because In the event the consummation of the defaulttransactions contemplated by this Agreement do not occur by reason of a Purchaser’s Default, Seller shall be entitled, as its sole remedy, to terminate this Agreement as described in Section 20 above and to retain the Deposit and any interest accrued thereon as liquidated damages. Lessor may ▇▇▇ periodically The payment to recover damages as they occur throughout the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable to the remaining term Seller of the leaseDeposit as liquidated damages is not intended to be a forfeiture or penalty but is intended to constitute liquidated damages to Seller. Such damages However, the foregoing provisions of this subsection (b) shall not be measured by the difference between the rent deemed to prohibit or limit Seller’s right to seek actual, compensatory damages, post-Closing, with respect to Purchaser’s breach of Purchaser’s representations or warranties under this lease Agreement; and shall not be deemed to prohibit or limit Seller’s right to seek damages, the remedy of specific performance, an injunction, or other appropriate relief with respect to any breach of Purchaser’s obligations under Sections 5, 15, 19 or 23 of this Agreement or under any provision of this Agreement pursuant to which Purchaser has agreed to indemnify, defend, or hold harmless Seller, its affiliates and/or successors for any matters. Furthermore, the foregoing provisions shall not be deemed to prohibit or limit Seller’s right to seek reasonable rental value attorneys’ fees and costs to enforce the provisions of the Slip for the remainder this subsection (b) or any other provision of the term, discounted to the time of judgment at the prevailing interest on judgmentsthis Agreement. (c) Lessor Any claim that Purchaser may make have at any payment time against Seller for a breach of any representation or perform warranty, whether known or unknown, which is not asserted by notice from Purchaser to Seller within one (1) year after the Closing Date or, if notice is sent, litigation to enforce the claim is not commenced within sixty (60) days after said notice will not be valid or effective, and Seller will have no liability with respect thereto. Seller shall have no liability to Purchaser for a breach of any obligation which Lessee has failed to perform representations or warranties unless all such breaches exceed Twenty Five Thousand Dollars ($25,000) and in which case Lessor no event shall be entitled to recover from Lessee upon demand Seller’s liability for all amounts so expended, plus interest from such breaches exceed the date aggregate amount of the expenditure at the rate of oneOne Million Six Hundred Seventy-and-one half percent per month. Any such payment or performance by Lessor shall not waive Lessee's defaultFive Thousand Dollars ($1,675,000).

Appears in 1 contract

Sources: Purchase and Sale Agreement (Gallagher Arthur J & Co)

Remedies for Default. In case of default as If a Default by the Agent has occurred and is not cured within the cure period (if any) described in Section 6 Clause 14.2, Gascor may (without prejudice to any of its other rights in this lease, Lessor shall have the right to Agreement) exercise any or any combination of the following remedies which are intended to be cumulative and in addition to any other remedies provided under applicable lawas appropriate: (a) Lessor may at if the Default is a Material Financial Default, subject to giving [THIS PARAGRAPH CONTAINS CONFIDENTIAL INFORMATION WHICH HAS BEEN OMITTED, BUT FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.] Working Days' notice in writing to the Agent stating its option intention to do so if the Default is not cured (and the Default is not cured within that notice period): (1) terminate the lease agreement between Gascor and the Agent recorded by notice this Agreement, the Agent's Sub-sales Agreement and the Master Agreement; or (2) suspend any obligations which it owes to Lessee. With or without terminationthe Agent under the agreement between Gascor and the Agent recorded by this Agreement, Lessor may retake possession of the Slip by towing or removing any boats, watercraft, or other items at Agent's Sub-sales Agreement and the Dock and may use or relet Master Agreement until the Slip without accepting a surrender or waiving the right to damages. Following such retaking of possession, efforts by the Lessor to relet the Slip shall be sufficient if Lessor follows its usual procedures for finding lessees for the Slip at rates not less than the current rates for other comparable Slips at the Dock. If Lessor has other vacant slip(s) at the Dock, prospective Lessees may be placed in such other slip without prejudice to Lessor's claim to damages or loss of rentals from Lessee.Default is cured; (b) Lessor may recover all damages caused by Lessee's default which shall include an amount equal if the Default is a Minimum Quantity Default, a Retail Licence Default or a Solvency Default, subject to rentals lost because of the default. Lessor may ▇▇▇ periodically to recover damages as they occur throughout the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect giving notice in any one action to recover accrued damages plus damages attributable writing to the remaining term of Agent stating its intention to do so: (1) terminate the lease. Such damages shall be measured by the difference agreement between the rent under this lease Gascor and the reasonable rental value of Agent recorded by this Agreement, the Slip for Agent's Sub-sales Agreement and the remainder of the term, discounted Master Agreement; or (2) suspend any obligations which it owes to the time of judgment at Agent under the prevailing interest on judgments.agreement between Gascor and the Agent recorded by this Agreement, the Agent's Sub-sales Agreement and the Master Agreement until the Default is cured; (c) Lessor may make if the Default is a Non-financial Default which has a Material Adverse Effect, subject to giving [THIS PARAGRAPH CONTAINS CONFIDENTIAL INFORMATION WHICH HAS BEEN OMITTED, BUT FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.] Working Days' notice in writing to the Agent stating its intention to do so if the Default is not cured (and the Default is not cured within that notice period): (1) terminate the agreement between Gascor and the Agent recorded by this Agreement, the Agent's Sub-sales Agreement and the Master Agreement; or (2) suspend any payment obligations which it owes to the Agent under the agreement between Gascor and the Agent recorded by this Agreement, the Agent's Sub-sales Agreement and the Master Agreement until the Default is cured; (d) subject to Clause 14.5, ▇▇▇ the Agent for damages for that Default; or (e) exercise all other available legal and equitable remedies (other than in respect of damages), including, without limitation, suing for specific performance, injunctive relief or perform any obligation which Lessee has failed to perform in which case Lessor shall be entitled to recover from Lessee upon demand all amounts so expended, plus interest from the date of the expenditure at the rate of one-and-one half percent per month. Any such payment or performance by Lessor shall not waive Lessee's defaultother orders as it deems appropriate.

Appears in 1 contract

Sources: Agency Agreement (Txu Australia Holdings Partnership L P)

Remedies for Default. In case On the occurrence of any event of default as described specified in Section 6 of this leaseParagraph 15.01, Lessor Landlord shall have the right to the following remedies which are intended to be cumulative and have, in addition to all other rights and remedies available to it by law or equity or by any other remedies provided under applicable lawprovisions of this Lease, the option to pursue any one or more of the following remedies: (a) Lessor may at its option terminate the lease by Upon three (3) days’ notice to Lessee. With or without terminationTenant, Lessor may retake possession declare to be immediately due and payable, on account of the Slip by towing or removing any boats, watercraft, or rent and other items at the Dock and may use or relet the Slip without accepting a surrender or waiving the right to damages. Following such retaking of possession, efforts by the Lessor to relet the Slip shall be sufficient if Lessor follows its usual procedures for finding lessees charges herein reserved for the Slip at rates not less than balance of the current rates for other comparable Slips at term of this Lease (taken without regard to any early termination of said term on account of default), a sum equal to the Dock. If Lessor has other vacant slip(s) at the DockAccelerated Rent Component (as defined in Paragraph 15.04 below), prospective Lessees may be placed in such other slip without prejudice and Tenant shall remain liable to Lessor's claim to damages or loss of rentals from LesseeLandlord as hereinafter provided. (b) Lessor Whether or not Landlord has elected to recover the Accelerated Rent Component, terminate this Lease on not less than (3) days’ notice to Tenant and, on the date specified in said notice, this Lease and the term hereby demised and all rights of Tenant hereunder shall expire and terminate, Tenant shall thereupon quit and surrender possession of the Premises to Landlord in the condition elsewhere herein required, and Tenant shall remain liable to Landlord as hereinafter provided. (c) In any case in which this Lease shall have been terminated, or in any case in which Landlord shall have elected to recover the Accelerated Rent Component and any portion of such sum shall remain unpaid, Landlord may, without further notice, enter upon and repossess the Premises, by summary proceedings, ejectment or otherwise, and may dispossess Tenant and remove Tenant and all other persons and property from the Premises and may have, hold and enjoy the Premises and the rents and profits there from. Landlord may, in its own name, as agent for Tenant, if this Lease has not been terminated, or in its own behalf, if this Lease has been terminated, 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 term of this Lease) and on such conditions and provisions (which may include concessions or free rent) as Landlord in its sole discretion may determine. Landlord may, in connection with any such reletting, cause the Premises to be redecorated, altered, divided, consolidated with other space or otherwise changed or prepared for reletting. No reletting shall be deemed a surrender and acceptance of the Premises. (d) Tenant shall, with respect to all periods of time up to and including the expiration of the term of this Lease (or what would have been the expiration date in the absence of default or breach) remain liable to Landlord as follows: (1) In the event of termination of this Lease on account of Tenant’s default or breach, Tenant shall remain liable to Landlord for damages equal to the rent and other charges payable under this Lease by Tenant as if this Lease were still in effect, less the net proceeds of any reletting after deducting all costs incident thereto (including without limitation all repossession costs, brokerage and management commissions, operating and legal expenses and fees, alteration costs and expenses of preparation for reletting) and to the extent such damages shall not have been recovered by Landlord by virtue of payment by Tenant of the Accelerated Rent Component (but without prejudice to the right of Landlord to demand and receive the Accelerated Rent Component), such damages shall be payable to Landlord monthly upon presentation to Tenant of a ▇▇▇▇ for the amount due. (2) If this Lease shall not have been terminated after default or breach by Tenant, the rent and all other charges payable under this Lease shall be reduced by the net proceeds of any reletting by Landlord (after deducting all costs incident thereto as above set forth) and by any portion of the Accelerated Rent Component paid by Tenant to Landlord, and any amount due to Landlord shall be payable monthly upon presentation to Tenant of a ▇▇▇▇ for the amount due. (e) In the event Landlord shall, after default or breach by Tenant, recover all the Accelerated Rent Component from Tenant and it shall be determined at the expiration of the term of this Lease (taken without regard to early termination for default) that a credit is due Tenant because the net proceeds of reletting, as aforesaid, plus the amounts paid to Landlord by Tenant exceed the aggregate of rent and other charges accrued in favor of Landlord to the end of said term, Landlord shall refund such excess to Tenant, without interest, promptly after such determination. (f) Landlord shall in no event be responsible or liable for any failure to relet the Premises or any part thereof, or for any failure to collect any rent due upon a reletting. (g) As a cumulative and alternative remedy of Landlord in the event of termination of this Lease by Landlord following any breach or default by Tenant, Landlord, at its option, shall be entitled to recover damages caused by Lessee's default which shall include for such breach in an amount equal to rentals lost because the Accelerated Rent Component (determined from and after the date of the default. Lessor may ▇▇▇ periodically to recover damages as they occur throughout the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable to the remaining term of the lease. Such damages shall be measured by the difference between the rent Landlord’s election under this lease and subparagraph (g)) less the reasonable fair rental value of the Slip Premises for the remainder of the term, discounted term of this Lease (taken without regard to the time of judgment at the prevailing interest on judgmentsearly termination), and such damages shall be payable by Tenant upon demand. (ch) Lessor Nothing contained in this Lease shall limit or prejudice the right of Landlord to prove and obtain as damages incident to a termination of this Lease, in any bankruptcy, reorganization or other court proceedings, the maximum amount allowed by any statute or rule of law in effect when such damages are to be proved. (i) Tenant hereby waives all errors and defects of a procedural nature in any proceeding brought against it by Landlord under this Lease. Tenant further waives the right to any notices to quit as may make be specified in the Landlord and Tenant Act of Pennsylvania, Act of April 6, 1951, as amended, or any payment other applicable law. Tenant further agrees to surrender the Premises without the need for notice at the expiration of the term (including any renewal term) or perform upon the sooner termination of this Lease. (j) If rent or any obligation which Lessee has failed other sum due from Tenant to perform in which case Lessor Landlord shall be entitled to recover overdue for more than three (3) days after notice from Lessee upon demand all amounts so expendedLandlord, plus it shall thereafter bear interest from the date of the expenditure at the rate of one-and-one half five (5%) percent per month. Any such payment or performance by Lessor shall not waive Lessee's defaultannum over the Prime Rate published in the Wall Street Journal, from time to time in effect (or, if lower, the highest legal rate), until paid.

Appears in 1 contract

Sources: Lease Agreement

Remedies for Default. In any litigation arising out of this lease, the prevailing party shall be entitled to recover attorney fees at the trial and on any appeal or petition for review. If Lessor incurs attorney fees because of default by ▇▇▇▇▇▇, Lessee shall pay all such fees whether or not litigation is filed. Any of the following shall constitute a default by Lessee under this lease: (a) ▇▇▇▇▇▇'s failure to pay rent or any other charges under this lease within 10 days after the due date or failure to comply with any other term or condition within 20 days following written notice from Lessor specifying the non-compliance. If such non-compliance cannot be cured within the 20-day period, this provision shall be satisfied if Lessee commences correction within such period and thereafter proceeds in good faith and with reasonable diligence to effect compliance as soon as possible. Time is of the essence of this lease. (b) ▇▇▇▇▇▇'s insolvency or assignment for the benefit of its creditors. Lessee's commencement of proceedings under any provision of any bankruptcy or insolvency law or failure to obtain dismissal of any petition filed against it under such laws within the time required to answer, or the appointment of a receiver of ▇▇▇▇▇▇'s properties. (c) Assignment or subletting of the Space by the Lessee In case of default as described in Section 6 7 of this lease, Lessor shall have the right to the following remedies which are intended to be cumulative and in addition to any other remedies provided under applicable law: (a) Lessor may at its option terminate the lease by notice to Lessee. With or without termination, Lessor may retake possession of the Slip Space by towing or removing any boats, watercraft, vehicles or other items at in the Dock Yard and may use or relet the Slip Space without accepting a surrender or waiving the right to damages. Following such retaking of possession, efforts by the Lessor to relet the Slip Space shall be sufficient if Lessor follows its usual procedures for finding lessees for the Slip Space at rates not less than the current rates for other comparable Slips at spaces in the DockYard. If Lessor has other vacant slip(s) at space in the Dock, Yard prospective Lessees may be placed in such other slip space without prejudice to Lessor▇▇▇▇▇▇'s claim to damages or loss of rentals from Lessee. (b) Lessor may recover all damages caused by Lessee's default which shall include an amount equal to rentals lost because of the default. Lessor may ▇▇▇ sue periodically to recover damages as they occur throughout the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable to the remaining term of the lease. Such damages shall be measured by the difference between the rent under this lease and the reasonable rental value of the Slip Space for the remainder of the term, discounted to the time of judgment at the prevailing interest on judgments. (c) Lessor may make any payment or perform any obligation which Lessee ▇▇▇▇▇▇ has failed to perform in which case Lessor shall be entitled to recover from Lessee upon demand all amounts so expended, plus interest from the date of the expenditure at the rate of one-and-one half percent per month. Any such payment or performance by Lessor shall not waive Lessee's default.

Appears in 1 contract

Sources: Recreational Vehicle Storage Yard Lease

Remedies for Default. In case Tenant covenants that if the Demised Premises at any time are deserted, abandoned or closed, or if Tenant defaults for a period of default as described thirty (30) days in Section 6 paying any installment of rent when due or in performing any covenant, provision or condition herein contained binding upon Tenant, Landlord shall have, in addition to all other rights and remedies provided by law, the right, without notice to Tenant, to enter and take possession of the Demised Premises, peaceably or by force, and to terminate this lease; and Landlord may relet the Demised Premises, Lessor in whole or in part, in one or more leases, for the unexpired portion of the term, or any part thereof, and receive the rent therefor and apply it on the rent and other charges due hereunder, the rate and terms of such reletting to be such as Landlord deems expedient, and L▇▇▇▇▇▇▇’s action shall be final and binding upon Tenant, and T▇▇▇▇▇ agrees to pay promptly to Landlord on demand, at one time or from time to time, any difference between the rent and other charges payable hereunder and any smaller amounts collected by Landlord from the tenant or tenants to whom the Demised Premises may be relet as aforesaid. If Tenant goes into bankruptcy, voluntary or involuntary, or into receivership, or makes a general assignment for the benefit of creditors, Landlord shall have the right to the following remedies which are intended to be cumulative terminate this lease at such time thereafter as Landlord may elect and in addition to any other such event and/or election Landlord shall have all the rights and/or remedies provided under applicable lawby law and/or by this lease. If Landlord pursues any such remedies (and regardless of whether such remedies are prosecuted to judgment), T▇▇▇▇▇ will be liable as follows: A. For all past due rent and other charges; B. For all additional rent (afuture rent) Lessor that would have accrued until the expiration of the term of occupancy under this Lease or until a new lease term begins (provided (i) that this will not affect Landlord’s duty to minimize the damages by making reasonable efforts to enter into a new lease as soon as practical, and (ii) that if Landlord obtains a judgment to future rent, Landlord shall apply as a credit towards that judgment all funds received by Landlord as rent for the Premises for three months for which the judgment for future rent was awarded. C. For all expenses Landlord may at its option terminate incur for cleaning, painting and repairing the lease Premises due to Tenant’s failure to leave the Premises thoroughly clean and in good condition, reasonable wear and tear excepted; D. For any court costs and reasonable attorney’s fees incurred by notice to Lessee. With Landlord (i) in collecting rent, other charges or without terminationdamages, Lessor may retake and (ii) in obtaining possession of the Slip by towing or removing any boats, watercraft, or other items at the Dock and may use or relet the Slip without accepting a surrender or waiving the right to damages. Following such retaking of possession, efforts by the Lessor to relet the Slip shall be sufficient if Lessor follows its usual procedures for finding lessees for the Slip at rates not less than the current rates for other comparable Slips at the Dock. If Lessor has other vacant slip(s) at the Dock, prospective Lessees may be placed in such other slip without prejudice to Lessor's claim to damages or loss of rentals from LesseePremises. (b) Lessor may recover all damages caused by Lessee's default which shall include an amount equal to rentals lost because of the default. Lessor may ▇▇▇ periodically to recover damages as they occur throughout the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable to the remaining term of the lease. Such damages shall be measured by the difference between the rent under this lease and the reasonable rental value of the Slip for the remainder of the term, discounted to the time of judgment at the prevailing interest on judgments. (c) Lessor may make any payment or perform any obligation which Lessee has failed to perform in which case Lessor shall be entitled to recover from Lessee upon demand all amounts so expended, plus interest from the date of the expenditure at the rate of one-and-one half percent per month. Any such payment or performance by Lessor shall not waive Lessee's default.

Appears in 1 contract

Sources: Lease (Armed Forces Brewing Company, Inc.)

Remedies for Default. In case A. Upon the happening of any event of default as described in Section 6 of this leasehereinabove described, Lessor Landlord shall have the right to the following remedies which are intended to be cumulative right, at its election, then or at any time thereafter and in addition to while any other remedies provided under applicable lawsuch event of default shall continue, either: (a1) Lessor may at its option To give Tenant written notice of intention to terminate this Lease on the lease by date of giving notice or on any later date specified therein, whereupon Tenant's right to Lessee. With or without termination, Lessor may retake possession of the Slip by towing or removing any boats, watercraft, or other items at the Dock Premises shall cease and may use or relet the Slip without accepting a surrender or waiving the right to damages. Following such retaking of possession, efforts by the Lessor to relet the Slip this Lease shall be sufficient terminated, except as to Tenant's liability, as if Lessor follows its usual procedures for finding lessees for the Slip at rates not less than expiration of the current rates for other comparable Slips at the Dock. If Lessor has other vacant slip(s) at the Dock, prospective Lessees may be placed term fixed in such other slip notice were the end of the term herein originally demised; or (2) To re-enter and take possession of the Premises and repossess the same as of Landlord's former estate, and expel Tenant and those claiming through or under Tenant, and remove the effects of both, and without prejudice to Lessorany remedies for arrears of Rent. Should Landlord elect to re- enter as provided in this subparagraph (2), or B. In the event that Landlord does not elect to terminate this Lease and elects to take possession as provided in subparagraph A(2) hereof, Tenant shall pay to Landlord (i) the Rent and other sums as herein provided, which would be payable hereunder if such repossession had not occurred, less (ii) the net proceeds, if any, of any reletting of the Premises after deducting Landlord's claim reasonable expenses in connection with such reletting, including, but without limitation, all repossession costs, brokerage commissions, reasonable attorneys' fees, alteration and repair costs and expenses of preparation for such reletting. If, in connection with any reletting, the new lease term extends beyond the existing term, or the Premises covered thereby include other premises not part of the Premises, a fair apportionment of the Rent received from such reletting and the expenses incurred in connection therewith will be made in determining the net proceeds from such reletting. Any Rent concessions will be apportioned over the term of the new lease. Tenant shall pay such Rent and other sums to damages or loss of rentals Landlord monthly on the days on which the Rent would have been payable hereunder if possession had not been retaken, and Landlord shall be entitled to receive the same from LesseeTenant on each such day. (bC. In the event that this Lease is terminated as a result of an uncured default by Tenant, as permitted in subparagraph A(1) Lessor may recover all hereof, Tenant shall remain liable to Landlord for damages caused by Lessee's default which shall include in an amount equal to rentals lost because the Rent and other sums which would have been owed by Tenant hereunder for the balance of the term had this Lease not been terminated, less the net proceeds, if any, of any reletting of the Premises by Landlord subsequent to such termination, after deducting all Landlord's expenses in connection with such reletting, including, but without limitation, the expenses enumerated above. Landlord shall be entitled to collect such damages from Tenant monthly on the days on which the Rent and other amounts would have been payable hereunder if this Lease had not been terminated, and Landlord shall be entitled to receive the same from Tenant on each such day. Landlord agrees to use good faith efforts to mitigate its damages in the event of Tenant's default. Lessor may ▇▇▇ periodically to recover damages as they occur throughout the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable to the remaining term of the lease. Such damages shall be measured by the difference between the rent under this lease and the reasonable rental value of the Slip for the remainder of the termAlternatively, discounted to the time of judgment at the prevailing interest on judgments. (c) Lessor may make any payment or perform any obligation which Lessee has failed to perform in which case Lessor option of Landlord, Landlord shall be entitled to recover forthwith against Tenant, as damages for the loss of the D. Suit or suits for the recovery of the amounts and damages set forth herein may be brought by Landlord, from Lessee upon demand time to time, at Landlord's election; and nothing herein shall be deemed to require Landlord to await the date that this Lease or the term hereof would have expired had there been no such default by Tenant, or no such termination, as the case may be. Each right and remedy provided for in this Lease shall be cumulative and shall be in addition to every other right or remedy provided for in this Lease or now or hereafter existing at law or in equity or by statute or otherwise, including, but not limited to, suits for injunctive relief and specific performance. The exercise or beginning of the exercise by Landlord of any one or more of the rights or remedies provided for in this Lease as now or hereafter existing at law or in equity or by statute or otherwise shall not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies provided for in this Lease as now or hereafter existing at law or in equity or by statute or otherwise. All costs incurred by Landlord in connection with collecting any amounts so expendedand damages owed by Tenant pursuant to the provisions of this Lease, plus interest including reasonable attorneys' fees from the date any such matter is turned over to an attorney, shall also be recoverable by Landlord from Tenant. E. No failure by Landlord to insist upon the strict performance of any agreement, term, covenant or condition hereof or to exercise any right or remedy consequent upon a breach thereof, and no acceptance of full or partial Rent during the continuance of any such breach, shall constitute a waiver of any such breach or any such agreement, term, covenant or condition. No agreement, term, covenant or condition hereof to be performed or complied with by Tenant, and no breach thereof, shall be waived, altered or modified except by written instrument executed by Landlord. No waiver of any breach shall affect or alter this Lease; but each and every agreement, term, covenant and condition hereof shall continue in full force and effect with respect to any other then existing or subsequent breach. Notwithstanding any termination of this Lease, the same shall continue in full force and effect as to any provisions hereof which require observance or performance by Landlord or Tenant subsequent to termination. (1) Nothing contained in this Paragraph 17 shall limit or prejudice the right of Landlord to prove and obtain as liquidated damages in any bankruptcy, insolvency, receivership, reorganization or dissolution proceeding an amount equal to the maximum allowed by any statute or rule of law governing such proceeding and in effect at the time when such damages are to be proved. (2) Notwithstanding anything in this Paragraph 17 to the contrary, any such proceeding or action involving bankruptcy, insolvency, reorganization, arrangement, assignment for the benefit of creditors, or appointment of a receiver or trustee, as specified in subparagraphs 16D and 16E above, shall be considered to be an event of default only when such proceeding, action or remedy shall be taken or brought by or against the then holder of the expenditure leasehold estate under this Lease. F. Any rents or other amounts owing hereunder which are not paid within 30 days after they are due shall bear interest at the rate of one-and-one half percent 10% per month. Any annum from the 31st day after the due date of such payment until received by Landlord. Similarly, any amounts paid by Landlord to cure any defaults of Tenant hereunder, which Landlord shall have the right, but not the obligation to do, shall, if not repaid by Tenant within 30 days after demand by Landlord, thereafter bear interest at the above rate until received by Landlord. G. Landlord hereby waives any statutory or common law rights it may have granting Landlord a lien or the right to foreclose on the personal property of Tenant and/or the tenant improvements installed in the Premises by Tenant. H. If Landlord is in default in the performance by Lessor shall of its obligations under this Lease and such default is not waive Lesseecured within 30 days after written notice thereof, Tenant may at its option upon 10 days' prior written notice to Landlord terminate this Lease, or may incur any expense and deduct the monies owed from Rent and any other amounts due under this Lease. Landlord's defaultperformance of each and every one of its conditions, covenants and agreements in this Lease is a condition precedent to Landlord's right to enforce this Lease.

Appears in 1 contract

Sources: Lease Agreement (Rentx Industries Inc)

Remedies for Default. In case A. Upon the happening of any event of default as described in Section 6 of this leasehereinabove described, Lessor Landlord shall have the right to the following remedies which are intended to be cumulative right, at its election, then or at any time thereafter and in addition to while any other remedies provided under applicable lawsuch event of default shall continue, either: (a1) Lessor may at its option To give Tenant written notice of intention to terminate this Lease on the lease by date of giving notice or on any later date specified therein, whereupon Tenant's right to Lessee. With or without termination, Lessor may retake possession of the Slip by towing Premises shall cease and this Lease shall be terminated, except as to Tenant's liability, as if the expiration of the term fixed in such notice were the end of the term herein originally demised; or (2) To re-enter and take possession of the Premises and repossess the same as of Landlord's former estate, and expel Tenant and those claiming through or removing under Tenant, and remove the effects of both, and without prejudice to any boats, watercraftremedies for arrears of Rent. Should Landlord elect to re-enter as provided in this subparagraph (2), or other items at the Dock and may should Landlord take possession pursuant to legal proceedings or pursuant to any notice provided for by law, Landlord shall without terminating this Lease, use or relet the Slip without accepting a surrender or waiving the right to damages. Following such retaking of possession, reasonable efforts by the Lessor to relet the Slip shall be sufficient if Lessor follows its usual procedures for finding lessees Premises in Landlord's or Tenant's name, but for the Slip at rates not account of Tenant, for such term or terms (which may be greater or less than the current rates for other comparable Slips at period which would otherwise have constituted the Dock. If Lessor has other vacant slip(sbalance of the term of this Lease) at the Dock, prospective Lessees may be placed in and on such conditions and upon such other slip terms as Landlord may reasonably determine, and Landlord may collect and receive the rents therefor. Landlord shall in no way be responsible or liable for any failure to relet the Premises after exercising good faith efforts therefor, but shall make every reasonable effort to mitigate its damages. No such re-entry or taking possession of the Premises by Landlord shall be construed as an election on Landlord's part to terminate this Lease unless a written notice of such intention is given to Tenant. No notice from Landlord hereunder or under a forcible entry and detainer statute or similar law shall constitute an election B. In the event that Landlord does not elect to terminate this Lease and elects to take possession as provided in subparagraph A(2) hereof, Tenant shall pay to Landlord (i) the Rent and other sums as herein provided, which would be payable hereunder if such repossession had not occurred, less (ii) the net proceeds, if any, of any reletting of the Premises after deducting Landlord's reasonable expenses in connection with such reletting, including, but without prejudice limitation, all repossession costs, brokerage commissions, reasonable attorneys' fees, alteration and repair costs and expenses of preparation for such reletting. If, in connection with any reletting, the new lease term extends beyond the existing term, or the Premises covered thereby include other premises not part of the Premises, a fair apportionment of the Rent received from such reletting and the expenses incurred in connection therewith will be made in determining the net proceeds from such reletting. Any Rent concessions will be apportioned over the term of the new lease. Tenant shall pay such Rent and other sums to Lessor's claim Landlord monthly on the days on which the Rent would have been payable hereunder if possession had not been retaken, and Landlord shall be entitled to damages or loss of rentals receive the same from LesseeTenant on each such day. (bC. In the event that this Lease is terminated as a result of an uncured default by Tenant, as permitted in subparagraph A(1) Lessor may recover all hereof, Tenant shall remain liable to Landlord for damages caused by Lessee's default which shall include in an amount equal to rentals lost because the Rent and other sums which would have been owed by Tenant hereunder for the balance of the term had this Lease not been terminated, less the net proceeds, if any, of any reletting of the Premises by Landlord subsequent to such termination, after deducting all Landlord's expenses in connection with such reletting, including, but without limitation, the expenses enumerated above. Landlord shall be entitled to collect such damages from Tenant monthly on the days on which the Rent and other amounts would have been payable hereunder if this Lease had not been terminated, and Landlord shall be entitled to receive the same from Tenant on each such day. Landlord agrees to use good faith efforts to mitigate its damages in the event of Tenant's default. Lessor may ▇▇▇ periodically to recover damages as they occur throughout the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable to the remaining term of the lease. Such damages shall be measured by the difference between the rent under this lease and the reasonable rental value of the Slip for the remainder of the termAlternatively, discounted to the time of judgment at the prevailing interest on judgments. (c) Lessor may make any payment or perform any obligation which Lessee has failed to perform in which case Lessor option of Landlord, Landlord shall be entitled to recover forthwith against Tenant, as damages for the loss of the bargain and not as a penalty, an aggregate sum which, at the time of such termination of this Lease, represents the amount, if any, by which the aggregate of the Rent and all other sums payable by Tenant hereunder which would have accrued for the balance of the term exceeds the aggregate rental value of the Premises (such rental value to be computed on the basis of a tenant paying not only Rent, but also such other charges as are required to be paid by Tenant under the terms of this Lease) for the balance of such term, both discounted to present worth at the Federal Reserve discount rate plus one percent (1%). D. Suit or suits for the recovery of the amounts and damages set forth herein may be brought by Landlord, from Lessee upon demand time to time, at Landlord's election; and nothing herein shall be deemed to require Landlord to await the date that this Lease or the term hereof would have expired had there been no such default by Tenant, or no such termination, as the case may be. Each right and remedy provided for in this Lease shall be cumulative and shall be in addition to every other right or remedy provided for in this Lease or now or hereafter existing at law or in equity or by statute or otherwise, including, but not limited to, suits for injunctive relief and specific performance. The exercise or beginning of the exercise by Landlord of any one or more of the rights or remedies provided for in this Lease as now or hereafter existing at law or in equity or by statute or otherwise shall not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies provided for in this Lease as now or hereafter existing at law or in equity or by statute or otherwise. All costs incurred by Landlord in connection with collecting any amounts so expendedand damages owed by Tenant pursuant to the provisions of this Lease, plus interest including reasonable attorneys' fees from the date any such matter is turned over to an attorney, shall also be recoverable by Landlord from Tenant. E. No failure by Landlord to insist upon the strict performance of any agreement, term, covenant or condition hereof or to exercise any right or remedy consequent upon a breach thereof, and no acceptance of full or partial Rent during the continuance of any such breach, shall constitute a waiver of any such (1) Nothing contained in this Paragraph 17 shall limit or prejudice the right of Landlord to prove and obtain as liquidated damages in any bankruptcy, insolvency, receivership, reorganization or dissolution proceeding an amount equal to the maximum allowed by any statute or rule of law governing such proceeding and in effect at the time when such damages are to be proved. (2) Notwithstanding anything in this Paragraph 17 to the contrary, any such proceeding or action involving bankruptcy, insolvency, reorganization, arrangement, assignment for the benefit of creditors, or appointment of a receiver or trustee, as specified in subparagraphs 16D and 16E above, shall be considered to be an event of default only when such proceeding, action or remedy shall be taken or brought by or against the then holder of the expenditure leasehold estate under this Lease. F. Any rents or other amounts owing hereunder which are not paid within 30 days after they are due shall bear interest at the rate of one-and-one half percent 10% per month. Any annum from the 31st day after the due date of such payment until received by Landlord. Similarly, any amounts paid by Landlord to cure any defaults of Tenant hereunder, which Landlord shall have the right, but not the obligation to do, shall, if not repaid by Tenant within 30 days after demand by Landlord, thereafter bear interest at the above rate until received by Landlord. G. Landlord hereby waives any statutory or common law rights it may have granting Landlord a lien or the right to foreclose on the personal property of Tenant and/or the tenant improvements installed in the Premises by Tenant. H. If Landlord is in default in the performance by Lessor shall of its obligations under this Lease and such default is not waive Lesseecured within 30 days after written notice thereof, Tenant may at its option upon 10 days' prior written notice to Landlord terminate this Lease, or may incur any expense and deduct the monies owed from Rent and any other amounts due under this Lease. Landlord's defaultperformance of each and every one of its conditions, covenants and agreements in this Lease is a condition precedent to Landlord's right to enforce this Lease.

Appears in 1 contract

Sources: Lease Agreement (Rentx Industries Inc)

Remedies for Default. In case of default as described in Section 6 of this leaseParagraph 17.1, Lessor LESSOR shall have the right to the following remedies which are intended to be cumulative and in addition to any other remedies provided under applicable law: (a) Lessor LESSOR may at its option terminate the lease by notice to Lessee. With or without termination, Lessor may LEASE and retake possession of the Slip by towing or removing any boats, watercraft, or other items at the Dock and may use or relet the Slip without accepting a surrender or waiving the right to damagesPremises. Following such retaking of possession, efforts by the Lessor LESSOR to relet the Slip Premises shall be sufficient if Lessor LESSOR follows its usual procedures procedure for finding lessees tenants for the Slip space at rates not less than the current rates for other comparable Slips at space in the DockBuilding. If Lessor LESSOR has other vacant slip(s) at space in the DockBuilding, prospective Lessees tenants may be placed in such other slip space without prejudice to Lessor's LESSOR'S claim to damages or loss of rentals rental from LesseeLESSEE. (b) Lessor LESSOR may recover all damages caused by Lessee's LESSEE'S default which shall include an amount equal to rentals lost because of the default, lease commissions paid for this LEASE, the unamortized cost of any tenant improvements installed by LESSOR to meet LESSEE'S special requirements and the cost of any clean up, refurbishing, lock changes and removal of the LESSEE'S property and fixtures. Lessor LESSOR may ▇▇▇ sue periodically to recover damages as they occur throughout the lease term tern, and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor LESSOR may elect in any one action to recover accrued damages plus damages attributable to the remaining term tern of the leaseLEASE. Such damages shall be measured by the difference between based upon the rent due under this lease and the reasonable rental value of the Slip LEASE for the remainder of the term, discounted to the time of judgment at the prevailing interest rates on judgments. (c) Lessor LESSOR may make any payment or perform any obligation which Lessee LESSEE has failed to perform perform, in which case Lessor LESSOR shall be entitled to recover from Lessee LESSEE upon demand all amounts so expended, plus interest from the date of the expenditure at the rate of one-and-one one-half percent (1 1/2%) per month. Any such payment or performance by Lessor LESSOR shall not waive Lessee's LESSEE'S default.

Appears in 1 contract

Sources: Office Lease (Valesc Inc)

Remedies for Default. In case On the occurrence of any event of default as described specified in Section 6 of this lease, Lessor 11.1. Landlord shall have the right option to pursue any one or more of the following remedies which are intended to be cumulative and in addition to any other remedies provided under applicable lawremedies: (a) Lessor Landlord may terminate this Lease after at its option terminate least 15 days' written notice, in which event Tenant shall immediately surrender the lease by notice Premises to LesseeLandlord. With Landlord may, without prejudice to any other remedy that it may have for possession or without terminationarrearages in rent, Lessor may retake enter on and take possession of the Slip by towing or removing Premises and remove all persons and property without being deemed guilty of any boatsmanner of trespass, watercraft, or other items at the Dock and may use or relet the Slip without accepting Premises. or any part of the Premises, for all or any part of the remainder of the Lease term to a surrender or waiving party satisfactory to Landlord at such monthly rental as Landlord with reasonable diligence is able to secure. Tenant agrees to pay Landlord on demand the right to damages. Following amount of all loss and damage that Landlord suffers by reason of such retaking of possessiontermination, efforts by the Lessor whether through inability to relet the Slip shall be sufficient if Lessor follows its usual procedures for finding lessees for the Slip at rates not less than the current rates for other comparable Slips at the Dock. If Lessor has other vacant slip(s) at the Dock, prospective Lessees may be placed in such other slip without prejudice to Lessor's claim to damages Premises on satisfactory terms or loss of rentals from Lesseeotherwise. (b) Lessor Landlord may recover all damages caused by Lessee's default which shall include an amount equal to rentals lost because enter on and take possession of the default. Lessor may ▇▇▇ periodically to recover damages Premises, after at least 15 days' written notice, and relet the premises for the benefit of Tenant on such terms as they occur throughout the lease term Tenant deems advisable, and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable to the remaining term of the lease. Such damages shall be measured by the difference between receive the rent under this lease and the reasonable rental value of the Slip for the remainder reletting. Tenant agrees to pay Landlord on demand any deficiency that may arise by reason of the term, discounted to the time of judgment at the prevailing interest on judgmentssuch reletting. (c) Lessor Landlord may make enter on the Premises, without being liable for prosecution or any payment claim for damages for such entry, and do whatever Tenant is obligated to do under the terms of this Lease to correct the default. Tenant agrees to reimburse Landlord on demand for any reasonable expenses that Landlord may incur in effecting compliance with Tenant's obligations under this Lease in this manner, and Tenant further agrees that Landlord shall not be liable for any damages resulting to Tenant from such action. No reentry or perform any obligation which Lessee has failed to perform in which case Lessor taking possession of the Premises by Landlord shall be entitled construed as an election on its part to recover terminate this Lease, unless written notice of such intention be given to Tenant. Notwithstanding any such reletting or reentry or taking possession, Landlord may at any time thereafter elect to terminate this Lease for a previous default. The loss or damage that Landlord may suffer by reason of termination of this Lease or the deficiency from Lessee upon demand all amounts so expendedany reletting as provided for above, plus interest from shall include the date expense of the expenditure at the rate of one-and-one half percent per month. Any such payment or performance by Lessor shall not waive Lessee's defaultrepossession.

Appears in 1 contract

Sources: Office Lease (West Coast Entertainment Corp)

Remedies for Default. In case 21.1 If Tenant fails to pay any sum for more than three (3) business days after notice that payment of such sum is due or in the event of Tenant's default as described in Section 6 performing any of the other terms of this leaseLease for more than ten (10) days after notice of such non-monetary default (or within such additional time as is reasonably required to correct any default other than payment of money by Tenant), Lessor or if Tenant assigns or otherwise transfers this Lease or subleases the Premises without Landlord's prior written consent, Landlord, in addition to the other rights or remedies it may have, shall have the right to immediately terminate this Lease or re-enter and attempt to relet without terminating this Lease and remove all persons and property from the following remedies Premises (which property may be removed and stored in a public warehouse or elsewhere at the cost and risk of, and for the account of Tenant) all without service of notice or resort to legal process and without being deemed guilty of trespass, or any liability of Landlord for any loss or damage which may be occasioned thereby. 21.2 It shall be a material breach of this Lease if Tenant or any guarantor of Tenant shall become bankrupt or insolvent, or commence any proceedings under any bankruptcy or insolvency laws, or if Tenant or any guarantor of Tenant shall take or have taken against it in federal or state court a petition in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Tenant's or such guarantor's property, if Tenant or any guarantor makes an assignment for the benefit of creditors, of if any assets of Tenant (whether located in the Premises or elsewhere) are intended seized or attached by any creditor of Tenant or a governmental agency. 21.3 If Landlord, without terminating this Lease, either (1) elects to re-enter the Premises and attempt to relet or (2) takes possession of the Premises pursuant to legal proceedings, or (3) takes possession of the Premises pursuant to any notice provided by law, then Landlord may, from time to time, make such alterations and repairs as may be necessary in order to relet the Premises or any part thereof for such term or terms (which may be for a term extending beyond the term of this Lease) and at such rent and other terms as Landlord in its reasonable discretion deems advisable. Upon such reletting, all rents received by Landlord from such reletting shall be applied, first, to the payment of any indebtedness of Tenant (other than any rents due hereunder) to Landlord; second, to the payment of any costs and expenses of obtaining possession and any such reletting, including expense of alterations and repairs, brokerage fees and attorney's fees; third, to the payment of any rents due and unpaid hereunder. If such rents and any other amounts received from such reletting during any month be less than that to be cumulative and paid during that month by Tenant, Tenant shall immediately pay such deficiency to Landlord. No such re-entry or taking possession of the Premises by Landlord shall be construed as an election by Landlord to terminate this Lease unless a notice of such intention be given to Tenant. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous breach. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedies provided under applicable lawit may have, Landlord may recover from Tenant all damages it may incur by reason of such breach, including the cost of recovering the Premises, reimbursement of any brokerage fees incurred by Landlord in connection with Tenant's lease, and all rent as follows which, at Landlord's election, shall be accelerated and be due in full on demand: (a) Lessor may 21.3.1 The unpaid rent and additional rent payable hereunder which had been earned at its option terminate the lease by notice to Lessee. With or without termination, Lessor may retake possession date of such termination plus interest at the rate of 18% per annum from the date due until paid in full; plus 21.3.2 The present worth of the Slip amount by towing or removing any boatswhich the unpaid rent and additional rent which would have been earned after termination for the balance of the term exceeds the amount of such rental loss which Tenant proves could reasonably have been avoided. 21.3.3 As used in subparagraph 21.3.2 above, watercraft, or other items the "present worth" is computed by discounting such amount at the Dock and may use or relet discount rate of the Slip without accepting a surrender or waiving Federal Reserve Bank of San Francisco as of the right to damagesdate of termination plus one percent. Following such retaking of possession, efforts by the Lessor to relet the Slip The present worth amount due under subparagraph 21.3.2 shall be sufficient if Lessor follows its usual procedures for finding lessees for the Slip at rates not less than the current rates for other comparable Slips bear interest at the Dock. If Lessor has other vacant slip(s) at the Dock, prospective Lessees may be placed in such other slip without prejudice to Lessor's claim to damages or loss rate of rentals from Lessee. (b) Lessor may recover all damages caused by Lessee's default which shall include an amount equal to rentals lost because of the default. Lessor may ▇▇▇ periodically to recover damages as they occur throughout the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable to the remaining term of the lease. Such damages shall be measured by the difference between the rent under this lease and the reasonable rental value of the Slip for the remainder of the term, discounted to the time of judgment at the prevailing interest on judgments. (c) Lessor may make any payment or perform any obligation which Lessee has failed to perform in which case Lessor shall be entitled to recover from Lessee upon demand all amounts so expended, plus interest 18% per annum from the date of termination until paid in full. 21.4 Landlord's rights and remedies in this Lease are cumulative and no one of such rights and remedies shall be exclusive at law or in equity of the expenditure rights and remedies which Landlord might otherwise have by virtue of a default under this Lease, and the exercise of one such right or remedy by Landlord shall not impair Landlord's standing to exercise any other right or remedy. Landlord and Tenant shall, and do hereby, waive trial by jury in any action, suit or proceeding related to, arising out of or in connection with the terms, conditions and covenants of this Lease. 21.5 In the event that Tenant and Landlord are parties to any other agreement in addition to this lease, any breach of such other agreement shall also be deemed, at the rate sole election of one-and-one half percent per month. Any such payment or performance by Lessor shall not waive Lessee's defaultLandlord, to be a breach of this Lease and vice versa.

Appears in 1 contract

Sources: Lease Agreement (Cobalt Group Inc)

Remedies for Default. In case of default as described Emergent shall, in Section 6 of this leaseaddition to other remedies available at law or equity, Lessor shall have the right to the following remedies which are intended to be cumulative and in addition to any other remedies provided under applicable lawupon the occurrence of an Event of Default: (a) Lessor On default hereunder and at any time thereafter, Emergent may at its option terminate the lease by notice to Lessee. With declare any or without termination, Lessor may retake possession all of the Slip by towing or removing any boats, watercraft, Obligations immediately due and payable and shall have the remedies of a secured party under the Uniform Commercial Code or other items applicable statutes of the State of South Carolina. Emergent may require YGI to assemble the Collateral and make it available to Emergent at a place to be designated by Emergent that is reasonably convenient to both parties. Emergent shall give YGI reasonable notice of the Dock time and may use place of any public sale thereof or relet of the Slip without accepting a surrender time after which any private sale or waiving the right any other intended disposition thereof is to damagesbe made. Following such retaking The requirements of possession, efforts by the Lessor to relet the Slip reasonable notice shall be sufficient met if Lessor follows its usual procedures for finding lessees for such notice is mailed, postage prepaid, to the Slip address of YGI shown in this Loan Agreement at rates not less than least ten (10) business days before the current rates for other comparable Slips at time of the Dock. If Lessor has other vacant slip(s) at the Dock, prospective Lessees may be placed in such other slip without prejudice to Lessor's claim to damages sale or loss of rentals from Lesseedisposition. (b) Lessor With respect to Collateral which is accounts receivable, YGI hereby grants Emergent the right, upon default hereunder by YGI, to instruct the account debtors of such accounts receivable to pay all monies payable on such accounts receivable directly to Emergent. YGI hereby irrevocably grants to Emergent a power of attorney to execute and to file any such documents on YGI's behalf as may recover all damages caused by Lessee's default which shall include an amount equal be necessary to rentals lost because of the default. Lessor may ▇▇▇ periodically to recover damages as they occur throughout the lease term and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor may elect in any one action to recover accrued damages plus damages attributable to the remaining term of the lease. Such damages shall be measured by the difference between the rent under effectuate this lease and the reasonable rental value of the Slip for the remainder of the term, discounted to the time of judgment at the prevailing interest on judgmentssubparagraph (b). (c) Lessor may make any payment or perform any obligation which Lessee has failed to perform in which case Lessor YGI shall be entitled liable to recover from Lessee upon demand Emergent for all amounts so expendedreasonable expenses of Emergent incurred in connection with exercise or the protection of its rights hereunder, plus interest from including but not limited to reasonable attorneys' fees and legal expenses incurred by Emergent. After deducting all legal and other costs, expenses, and charges, including reasonable attorneys' fees, incurred in the date collection, sale, delivery, or preservation of the expenditure at Collateral, or any part thereof, Emergent shall apply the rate residue of one-and-one half percent per monthsuch sale proceeds to the payment of the Obligations and the interest thereon. Any Should there be any surplus of such payment or performance by Lessor proceeds, such surplus shall not waive Lessee's defaultbe paid to YGI. YGI shall pay on demand to Emergent whatever balance may be due after the sale of the Collateral and the application of the proceeds of such sale as above provided.

Appears in 1 contract

Sources: Loan and Security Agreement (Emergent Group Inc)