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 ▇▇▇▇▇▇'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 ▇▇▇▇▇▇ 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: Lease Agreement, Lease Agreement
Remedies for Default. In case of For any default as described in Section 6 of this leaseParagraph 16.1, Lessor Landlord shall have the right to the following remedies which are intended to be cumulative and in In addition to any other remedies provided under applicable law:
(a) Lessor may at its option terminate the lease by notice to Lessee16.2.1. 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 Terminate ▇▇▇▇▇▇'s claim ’s right 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 possession of the default. Lessor may sue periodically to recover damages as they occur throughout the lease term Premises 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 ▇▇▇▇▇▇ has failed ▇’s rights under this Lease by written notice to perform Tenant without relieving Tenant from its obllgatlon to pay damages.
16.2.2. Re-enter and take possession of the Premises and remove any persons or property 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, after such retaking of possession, relet the Premises upon any reasonable terms. No such reletting shall be construed as an acceptance of a surrender of ▇▇▇▇▇▇’s leasehold interest.
16.2.3. Except to the extent otherwise provided by applicable law, in which case Lessor the event of termination or retaking of possession following default, 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 f1Xed 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 ▇▇▇▇▇▇’s default Including but not limited to remodeling or repair costs, attorney fees, court costs, broker commissions, and marketing costs. (iiQ 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 earller 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: Lease Agreement (Evotec SE), Lease Agreement (Evotec AG)
Remedies for Default. In case Upon occurrence of default an Event of Default as described in Section 6 of this lease10.1, Lessor Landlord 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 lawlaw or under this Lease:
(a) Lessor 10.2.1 Landlord may at its option terminate the lease by notice this Lease, without prejudice to Lesseeits right to damages for Tenant's breach. With or without termination, Lessor Landlord may retake possession of the Slip by towing Premises (using self-help or removing any boats, watercraft, or other items at the Dock otherwise) and may use or relet the Slip Premises without accepting a surrender or waiving the right to damages. Following such retaking of possession, efforts by the Lessor ▇▇▇▇▇▇▇▇ to relet the Slip Premises shall be sufficient if Lessor Landlord follows its usual procedures 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 Landlord has other vacant slip(s) at space in the DockBuilding, prospective Lessees tenants may be placed in such other slip space without prejudice to ▇▇▇▇▇▇Landlord's claim to damages or loss of rentals from LesseeTenant.
(b) Lessor 10.2.2 Landlord may recover all damages caused by LesseeTenant's default which shall include an amount equal to rentals lost because of the default, Lease commissions paid for this Lease, and the unamortized cost of any tenant improvements installed by or paid for by Landlord. Lessor Landlord may sue periodically to recover damages as they occur throughout the lease term Lease term, and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor Landlord may elect in any one action to recover accrued damages plus damages attributable to the remaining term of the leaseLease. Such damages shall be measured by the difference between the rent under this lease Lease and the reasonable rental value of the Slip Premises for the remainder of the term, discounted to the time of judgment at the prevailing interest rate on judgments.
(c) Lessor may make any payment or perform any obligation which ▇▇▇▇▇▇ 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: Office Lease (AbSci Corp), Office Lease (AbSci Corp)
Remedies for Default. In case of default as described in Section 6 of this leaseParagraph 10 above, Lessor Landlord 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 11.1. Terminate this Lease without relieving Tenant from its option terminate the lease by notice obligation to Lesseepay damages.
11.2. With or without termination, Lessor may retake Retake possession of the Slip Premises by towing summary proceedings or removing any boatsotherwise, watercraftin which case Tenant's liability to Landlord for damages shall survive the tenancy. Landlord may, 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 ▇▇▇▇▇▇construed as an acceptance of a surrender of Tenant's claim to damages or loss of rentals from Lesseeleasehold interest.
(b) Lessor may recover all 11.3. Recover damages caused by LesseeTenant's default which shall include an amount equal to rentals lost because of the defaultreasonable attorneys' fees at trial and on any appeal therefrom. Lessor Landlord may sue ▇▇▇ periodically to recover damages as they occur throughout the lease term term, and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor Landlord 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 Lease equal to the difference between the rent under this lease Lease and the reasonable rental value of the Slip Premises for the remainder of the term, discounted to the time of judgment at the prevailing interest on judgmentsrate of six (6%) percent per annum.
(c) Lessor may make 11.4. Make any payment or perform any obligation which ▇▇▇▇▇▇ has failed required of Tenant so as to perform cure Tenant's default, in which case Lessor Landlord shall be entitled to recover from Lessee upon demand all amounts so expendedexpended from Tenant, plus interest at the rate of ten percent (10%) per annum 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 defaultexpenditure.
Appears in 2 contracts
Sources: Lease Agreement (Microfield Graphics Inc /Or), Lease Agreement (Choicetel Communications Inc /Mn/)
Remedies for Default. In case of default as described in Section 6 of this leaseparagraph 10 above, Lessor Landlord 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 Terminate this lease without relieving Tenant from its option terminate the lease by notice obligation to Lessee. With or without termination, Lessor may retake pay damages.
(b) Retake possession of the Slip Premises by towing summary proceedings or removing any boatsotherwise, watercraftin which case Tenant's liability to Landlord for damages shall survive the tenancy. Landlord may, 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 ▇▇▇▇▇▇construed as an acceptance of a surrender of Tenant's claim to damages or loss of rentals from Lesseeleasehold interest.
(bc) Lessor may recover all Recover damages caused by LesseeTenant's default which shall include an amount equal to rentals lost because of the defaultreasonable attorneys' fees at trial and on any appeal therefrom. Lessor Landlord may sue ▇▇▇ periodically to recover damages as they occur throughout the lease term term, and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor Landlord 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 lease equal to the difference between the rent under this lease and the reasonable rental value of the Slip Premises for the remainder of the term, discounted to the time of judgment at the prevailing interest on judgmentsrate of 6 percent per annum.
(cd) Lessor may make Make any payment or perform any obligation which ▇▇▇▇▇▇ has failed required of Tenant so as to perform cure Tenant's default, in which case Lessor Landlord shall be entitled to recover from Lessee upon demand all amounts so expendedexpended from Tenant, plus interest at the rate of 10 percent per annum 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 defaultexpenditure.
Appears in 2 contracts
Sources: Lease (Fei Co), Lease (Fei Co)
Remedies for Default. In case of default as described in Section 6 of this leaseparagraph 10 above, Lessor Landlord shall still 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 Terminate this Lease without relieving Tenant from its option terminate the lease by notice obligation to Lessee. With or without termination, Lessor may retake pay damages.
b) Retake possession of the Slip Premises by towing summary proceedings or removing any boatsotherwise, watercraftin which case Tenant's liability to Landlord for damages shall survive the tenancy. Landlord may, 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 ▇▇▇▇▇▇construed as an acceptance of a surrender of Tenant's claim to damages or loss of rentals from Lesseeleasehold interest.
(bc) Lessor may recover all Recover damages caused by LesseeTenant's default which shall include an amount equal to rentals lost because of the defaultreasonable attorney’s fees at trial and on any appeal therefrom. Lessor Landlord may sue ▇▇▇ periodically to recover damages as they occur throughout the lease term term, and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor Landlord 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 lease equal to the difference between the rent under this lease Lease and the reasonable rental value of the Slip Premises for the remainder of the term, discounted to the time of judgment at the prevailing interest on judgmentsrate of 6 percent per annum.
(cd) Lessor may make Make any payment or perform any obligation which ▇▇▇▇▇▇ has failed required of Tenant so as to perform cure Tenant's default, in which case Lessor Landlord shall be entitled to recover from Lessee upon demand all amounts so expended, expended from Tenant~ plus interest from the date of the expenditure at the rate of one-and- one half 10 percent per month. Any such payment or performance by Lessor shall not waive Lessee's defaultannum from the date for the expenditure.
Appears in 2 contracts
Sources: Lease Agreement, Lease Agreement
Remedies for Default. In case of default as described in Section 6 of this leaseherein, Lessor Landlord 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 A. Landlord 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 Landlord to relet the Slip Premises shall be sufficient if Lessor Landlord follows its usual procedures 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 Landlord has other vacant slip(s) at space in the DockBuilding, prospective Lessees tenants may be placed in such other slip space without prejudice to ▇▇▇▇▇▇Landlord's claim to damages or loss of rentals from LesseeTenant.
(b) Lessor B. Landlord may recover all damages caused by LesseeTenant's default which shall include an amount equal to rentals lost because of the default, lease commissions paid for this Lease, and the unamortized cost of any tenant improvements installed by Landlord to meet Tenant's special requirements. Lessor Landlord may sue periodically to recover damages dama▇▇▇ as they occur throughout the lease term Lease term, and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor Landlord may elect in any one action to recover accrued damages plus damages attributable to the remaining term of the leaseLease. Such damages shall be measured by the difference between the rent under this lease Lease and the reasonable rental value of the Slip Premises for the remainder of the term, discounted to the time of judgment at the prevailing interest rate on judgments.
(c) Lessor C. Landlord may make any payment or perform any obligation which ▇▇▇▇▇▇ Tenant has failed to perform in which case Lessor Landlord shall be entitled to recover from Lessee Tenant upon demand all amounts so expended, expended plus interest from the date of the expenditure at the rate of one-and- one and-one-half percent per month. Any such payment or performance by Lessor Landlord shall not waive LesseeTenant's default.
Appears in 1 contract
Sources: Office Lease (Dogs International)
Remedies for Default. In case of default as described in Section 6 of this leaseparagraph 12.1, Lessor Landlord 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 Landlord may at its option terminate the lease by notice to LesseeTenant. With or without termination, Lessor Landlord may retake possession of the Slip by towing or removing any boats, watercraft, or other items at the Dock Premises and may use or relet the Slip Premises without accepting a surrender or waiving the right to damages. Following such retaking of possession, efforts by the Lessor Landlord to relet the Slip Premises shall be sufficient if Lessor Landlord follows its usual procedures 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 Landlord has other vacant slip(s) at space in the DockBuilding, prospective Lessees tenants may be placed in such other slip space without prejudice to ▇▇▇▇▇▇Landlord's claim to damages or loss of rentals from LesseeTenant.
(b) Lessor Landlord may recover all damages caused by LesseeTenant's default which shall include an amount equal to rentals lost because of the default, lease commissions paid for this lease, and the unamortized cost of any tenant improvements installed by Landlord to meet Tenant's special requirements. Lessor Landlord may sue ▇▇▇ periodically to recover damages as they occur throughout the lease term term, and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor Landlord 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 term, discounted to the time of judgment at the prevailing interest rate on judgments.
(c) Lessor Landlord may make any payment or perform any obligation which ▇▇▇▇▇▇ Tenant has failed to perform perform, in which case Lessor Landlord shall be entitled to recover from Lessee Tenant upon demand all amounts so expended, plus interest from the date of the expenditure at the rate of one-and- one and-one-half percent per month. Any such payment or performance by Lessor Landlord shall not waive LesseeTenant's default.
Appears in 1 contract
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 ▇▇▇▇▇▇'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 term, and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor LESSOR may elect in any one anyone action to recover accrued damages plus damages attributable to the remaining term 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 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 and-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 (New Visual Corp)
Remedies for Default. In case of default as described in Section 6 of this leaseparagraph 10 above, Lessor Landlord 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 Terminate this lease without relieving Tenant from its option terminate the lease by notice obligation to Lessee. With or without termination, Lessor may retake pay damages.
(b) Retake possession of the Slip Premises by towing summary proceedings or removing any boatsotherwise, watercraftin which case Tenant's liability to Landlord for damages shall survive the tenancy. Landlord may, 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 ▇▇▇▇▇▇construed as an acceptance of a surrender of Tenant's claim to damages or loss of rentals from Lesseeleasehold interest.
(bc) Lessor may recover all Recover damages caused by LesseeTenant's default which shall include an amount equal to rentals lost because of the defaultreasonable attorneys' fees at trial and on any appeal therefrom. Lessor Landlord may sue periodically ▇▇▇iodically to recover damages as they occur throughout the lease term term, and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor Landlord 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 lease equal to the difference between the rent under this lease and the reasonable rental value of the Slip Premises for the remainder of the term, discounted to the time of judgment at the prevailing interest on judgmentsrate of 6 percent per annum.
(cd) Lessor may make Make any payment or perform any obligation which ▇▇▇▇▇▇ has failed required of Tenant so as to perform cure Tenant's default, in which case Lessor Landlord shall be entitled to recover from Lessee upon demand all amounts so expendedexpended from Tenant, plus interest at the rate of 10 percent per annum 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 defaultexpenditure.
Appears in 1 contract
Sources: Lease Agreement (Microhelix Inc)
Remedies for Default. In case of default as described in Section 6 of this lease, Lessor 11.1 Landlord 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 Landlord may at its option terminate the lease by notice to LesseeTenant. With or without termination, Lessor Landlord may retake possession of the Slip by towing or removing any boats, watercraft, or other items at the Dock Premises and may use or relet the Slip Premises without accepting a surrender or waiving the right to damages. Following such retaking of possession, efforts by the Lessor Landlord to relet the Slip Premises shall be sufficient if Lessor Landlord follows its usual procedures 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 Landlord has other vacant slip(s) at space in the DockBuilding, prospective Lessees tenants may be placed in such other slip space without prejudice to ▇▇▇▇▇▇'s Landlord’s claim to damages or loss of rentals from LesseeTenant.
(b) Lessor Landlord may recover all damages caused by Lessee's Tenant’s default which shall include an amount equal to rentals lost because of the default, lease commissions paid for this Lease, and the unamortized cost of any tenant improvements installed by Landlord to meet Tenant’s special requirements. Lessor Landlord may sue s▇▇ periodically to recover damages as they occur throughout the lease term term, and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor Landlord 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 Lease and the reasonable rental value of the Slip Premises for the remainder of the term, discounted to the time of judgment judgement at the prevailing interest rate on judgmentsjudgements.
(c) Lessor Landlord may make any payment or perform any obligation which ▇▇▇▇▇▇ Tenant has failed to perform perform, in which case Lessor Landlord shall be entitled to recover from Lessee Tenant upon demand all amounts so expended, plus interest from the date of the expenditure at the rate of one-and- one and-one-half percent per month. Any such payment or performance by Lessor Landlord shall not waive Lessee's Tenant’s default.
Appears in 1 contract
Sources: Office Lease (Pixelworks, Inc)
Remedies for Default. In case of default as described in Section 6 of this lease, Lessor paragraph 11.1 Landlord 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 Landlord may at its option terminate the lease by notice to LesseeTenant. With or without termination, Lessor Landlord may retake possession of the Slip by towing or removing any boats, watercraft, or other items at the Dock Premises and may use or relet re-let the Slip Premises without accepting a surrender or waiving the right to damages. Following such retaking of or possession, efforts by Landlord to re-let the Lessor to relet the Slip Premises shall be sufficient if Lessor Landlord follows its usual procedures 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 Landlord has other vacant slip(s) at Page 6 Please Initial -------- -------- Landlord Tenant space in the DockBuilding, prospective Lessees tenants may be placed in such other slip space without prejudice to ▇▇▇▇▇▇Landlord's claim to damages or loss of rentals from LesseeTenant.
(b) Lessor Landlord may recover all damages caused by LesseeTenant's default which shall include an amount equal to rentals lost loss because of the default, lease commissions paid for this lease, and the unamortized cost of any tenant improvements installed by Landlord to meet Tenant's special requirements. Lessor Landlord may sue ▇▇▇ periodically to recover damages as they occur throughout the lease term term, and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor Landlord 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 term, discounted to the time of judgment at the prevailing interest rate on judgments.
(c) Lessor Landlord may make any payment or perform any obligation which ▇▇▇▇▇▇ Tenant has failed to perform perform, in which case Lessor Landlord shall be entitled to recover from Lessee upon Tenant on demand all amounts so expendedexpected, plus interest from the date of the expenditure at the rate of one-and- one and-one-half percent per month. Any such payment or performance by Lessor Landlord shall not waive LesseeTenant's default.
Appears in 1 contract
Sources: Office Lease (Cobalt Group Inc)
Remedies for Default. In case of default as described in Section 6 of this leaseparagraph 10 above, Lessor Landlord 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 Terminate this lease without relieving Tenant from its option terminate the lease by notice obligation to Lessee. With or without termination, Lessor may retake pay damages.
(b) Retake possession of the Slip Premises by towing summary proceedings or removing any boatsotherwise, watercraftin which case Tenant's liability to Landlord for damages shall survive the tenancy. Landlord may, 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 ▇▇▇▇▇▇construed as an acceptance of a surrender of Tenant's claim to damages or loss of rentals from Lesseeleasehold interest.
(bc) Lessor may recover all Recover damages caused by LesseeTenant's default which shall include an amount equal to rentals lost because of the defaultreasonable attorneys' fees at trial and on any appeal therefrom. Lessor Landlord may sue ▇▇▇ periodically to recover damages as they occur throughout the lease term term, and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor Landlord 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 lease equal to the difference between the rent under this lease and the reasonable rental value of the Slip Premises for the remainder of the term, discounted to the time of judgment at the prevailing interest on judgmentsrate of 6 percent per annum.
(cd) Lessor may make Make any payment or perform any obligation which ▇▇▇▇▇▇ has failed required of Tenant so as to perform cure Tenant's default, in which case Lessor Landlord shall be entitled to recover from Lessee upon demand all amounts so expendedexpended from Tenant, plus interest at the rate of 10 percent per annum 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 defaultexpenditure.
Appears in 1 contract
Sources: Lease Amendment (Thrustmaster Inc)
Remedies for Default. In case of default as described in Section 6 of this lease, Lessor paragraph 17 Landlord 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 a. Landlord 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, possession efforts by the Lessor Landlord to relet the Slip Premises shall be sufficient if Lessor Landlord follows its usual procedures for finding lessees tenants for the Slip space at rates not less than the current rates for other comparable Slips space in the Building. Landlord at its option may make such physical changes to the DockPremises as Landlord considers advisable or necessary in connection with any such reletting or proposed reletting, without relieving Tenant of any liability under this Lease or otherwise affecting Tenant's liability. If Lessor Landlord has other vacant slip(s) at space in the DockBuilding, prospective Lessees tenants may be placed in such other slip space without prejudice to ▇▇▇▇▇▇Landlord's claim to damages or loss of rentals from LesseeTenant.
(b) Lessor b. Landlord may recover all damages caused by LesseeTenant's default which shall include an amount equal to (i) rentals lost because of the default, (ii) lease commissions paid for this lease, (iii) the amortized cost of the initial Tenant Improvements described in Exhibit B, (iv) all legal expenses and other related costs incurred by Landlord following Tenant's default, and (v) all costs incurred by Landlord in reletting the Premises. Lessor To the extent permitted under Oregon Law, Landlord may sue periodically to recover damages as they occur throughout the lease term term, and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor Landlord may elect in any one action to recover accrued damages plus damages attributable to the remaining term of the leaseLease. Such damages shall be measured by the difference between the rent under this lease Lease (including an estimated amount of Additional Rent as determined by Landlord) and the reasonable rental value of the Slip Premises for the remainder of the term, discounted to the time of judgment at the prevailing interest rate on judgments.
(c) Lessor c. Landlord may make any payment or perform any obligation which ▇▇▇▇▇▇ Tenant has failed to perform perform, in which case Lessor Landlord shall be entitled to recover from Lessee Tenant upon demand all amounts so expended, plus interest from the date of the expenditure at the rate of one and one-and- one half percent per month. Any such payment or performance by Lessor Landlord shall not waive LesseeTenant's default.
Appears in 1 contract
Sources: Sublease Agreement (Webridge Inc)
Remedies for Default. In case of default as described in Section 6 of this lease, Lessor paragraph 11.1 Landlord 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 Landlord may at its option terminate the lease by notice to LesseeTenant. With or without termination, Lessor Landlord may retake possession of the Slip by towing or removing any boats, watercraft, or other items at the Dock Premises and may use or relet the Slip Premises without accepting a surrender or waiving the right to damages. Following such retaking of possession, efforts by the Lessor Landlord to relet the Slip Premises shall be sufficient if Lessor Landlord follows its usual procedures 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 Landlord has other vacant slip(s) at space in the DockBuilding, prospective Lessees tenants may be placed in such other slip space without prejudice to ▇▇▇▇▇▇Landlord's claim to damages or loss of rentals from LesseeTenant.
(b) Lessor Landlord may recover all damages caused by LesseeTenant's default which shall include an amount equal to rentals lost because of the default, lease commissions paid for this lease, and the unamortized cost of any tenant improvements installed by Landlord to meet Tenant's special requirements. Lessor Landlord may sue ▇▇▇ periodically to recover damages as they occur throughout the lease term term, and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor Landlord 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 term, discounted to the time of judgment at the prevailing interest rate on judgments.
(c) Lessor Landlord may make any payment or perform any obligation which ▇▇▇▇▇▇ Tenant has failed to perform perform, in which case Lessor Landlord shall be entitled to recover from Lessee Tenant upon demand all amounts so expended, plus interest from the date of the expenditure at the rate of one-and- one and-one-half percent per month. Any such payment or performance by Lessor Landlord shall not waive LesseeTenant's default.
Appears in 1 contract
Sources: Office Lease (Nettel Holdings Inc)
Remedies for Default. In case of default as described in Section 6 of this leaseparagraph 10 above, Lessor Landlord 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 Terminate this lease without relieving Tenant from its option terminate the lease by notice obligation to Lessee. With or without termination, Lessor may retake pay damages.
(b) Retake possession of the Slip Premises by towing summary proceedings or removing any boatsotherwise, watercraftin which case Tenant's liability to Landlord for damages shall survive the tenancy. Landlord may, 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 ▇▇▇▇▇▇construed as an acceptance of a surrender of Tenant's claim to damages or loss of rentals from Lesseeleasehold interest.
(bc) Lessor may recover all Recover damages caused by LesseeTenant's default which shall include an amount equal to rentals lost because of the defaultreasonable attorneys' fees at trial and on any appeal therefrom. Lessor Landlord may sue periodically to recover re▇▇▇er damages as they occur throughout the lease term term, and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor Landlord 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 lease equal to the difference between the rent under this lease and the reasonable rental value of the Slip Premises for the remainder of the term, discounted to the time of judgment at the prevailing interest on judgmentsrate of 6 percent per annum.
(cd) Lessor may make Make any payment or perform any obligation which ▇▇▇▇▇▇ has failed required of Tenant so as to perform cure Tenant's default, in which case Lessor Landlord shall be entitled to recover from Lessee upon demand all amounts so expendedexpended from Tenant, plus interest at the rate of 10 percent per annum 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 defaultexpenditure.
Appears in 1 contract
Sources: Assignment and Modification of Lease (Agritope Inc)
Remedies for Default. In case of default as described in Section 6 of this lease, Lessor paragraph 12.1 Landlord 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 13.1 Landlord may at its option terminate the lease by notice to Lessee. With or without termination, Lessor may 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, possession efforts by the Lessor Landlord to relet the Slip Premises shall be sufficient if Lessor Landlord follows its usual procedures for finding lessees tenants for the Slip at rates not less than the current rates for other comparable Slips at the Dockspace. If Lessor Landlord has other vacant slip(s) at space in the DockBuilding, prospective Lessees tenants may be placed in such other slip space without prejudice to ▇▇▇▇▇▇Landlord's claim to damages or loss of rentals from LesseeTenant.
(b) Lessor 13.2 Landlord may recover all damages caused by LesseeTenant's default which shall include an amount equal to rentals lost because of the defaultdefault and the unamortized cost of any tenant improvement installed by the Landlord to meet Tenant's special requirements. Lessor Landlord may sue ▇▇▇ periodically to recover damages as they occur throughout the lease term term, and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor Landlord 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 lease equal to the difference between the rent under this lease and the reasonable rental value of the Slip Premises for the remainder of the term, discounted to the time of judgment at the prevailing interest on judgmentsrate of 6 percent per annum.
(c) Lessor 13.3 Landlord may make any payment or perform any obligation which ▇▇▇▇▇▇ Tenant has failed to perform perform, in which case Lessor Landlord shall be entitled to recover from Lessee Tenant upon demand all amounts so expended, plus interest from the date of the expenditure at the rate of one-and- one half 10 percent per monthannum. Any such payment or performance by Lessor Landlord shall not waive LesseeTenant's default.
Appears in 1 contract
Remedies for Default. In case of default as described in Section 6 of this lease, Lessor paragraph 11.1 Landlord 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 Landlord may at its option terminate the lease by notice to LesseeTenant. With or without termination, Lessor Landlord may retake possession of the Slip by towing or removing any boats, watercraft, or other items at the Dock Premises and may use or relet the Slip Premises without accepting a surrender or waiving the right to damages. Following such retaking of possession, efforts by the Lessor Landlord to relet the Slip Premises shall be sufficient if Lessor Landlord follows its usual procedures 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 Landlord has other vacant slip(s) at space in the DockBuilding, prospective Lessees tenants may be placed in such other slip space without prejudice to ▇▇▇▇▇▇'s Landlord’s claim to damages or loss of rentals from LesseeTenant.
(b) Lessor Landlord may recover all damages caused by Lessee's Tenant’s default which shall include an amount equal to rentals lost because of the default, lease commissions paid for this lease, and the unamortized cost of any tenant improvements installed by Landlord to meet Tenant’s special requirements. Lessor Landlord may sue ▇▇▇ periodically to recover damages as they occur throughout the lease term term, and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor Landlord 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 term, discounted to the time of judgment judgement at the prevailing interest rate on judgmentsjudgements.
(c) Lessor Landlord may make any payment or perform any obligation obligation, which ▇▇▇▇▇▇ Tenant has failed to perform perform, in which case Lessor Landlord shall be entitled to recover from Lessee Tenant upon demand all amounts so expended, plus interest from the date of the expenditure at the rate of one-and- one and-one-half percent per month. Any such payment or performance by Lessor Landlord shall not waive Lessee's Tenant’s default.
Appears in 1 contract
Sources: Office Lease (Imageware Systems Inc)
Remedies for Default. In case of default as described in Section 6 of this leaseParagraph 10 above, Lessor Landlord 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 11.1 Terminate this Lease without relieving Tenant from its option terminate the lease by notice obligation to Lessee. With or without termination, Lessor may retake pay damages.
11.2 Retake possession of the Slip Premises by towing summary proceedings or removing any boatsotherwise, watercraftin which case Tenant's liability to Landlord for damages shall survive the tenancy. Landlord may, 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 ▇▇▇▇▇▇construed as an acceptance of a surrender of Tenant's claim to damages or loss of rentals from Lesseeleasehold interest.
(b) Lessor may recover all 11.3 Recover damages caused by LesseeTenant's default which shall include an amount equal to rentals lost because of the defaultreasonable attorneys' fees at trial and on any appeal therefrom. Lessor Landlord may sue periodically to recover damages as they ▇▇▇y occur throughout the lease term term, and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor Landlord 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 Lease equal to the difference between the rent under this lease Lease and the reasonable rental value of the Slip Premises for the remainder of the term, discounted to the time of judgment at the prevailing interest on judgmentsrate of six (6%) percent per annum.
(c) Lessor may make 11.4 Make any payment or perform any obligation which ▇▇▇▇▇▇ has failed required of Tenant so as to perform cure Tenant's default, in which case Lessor Landlord shall be entitled to recover from Lessee upon demand all amounts so expendedexpended from Tenant, plus interest at the rate of ten percent (10%) per annum 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 defaultexpenditure.
Appears in 1 contract
Sources: Lease Agreement (Fei Co)
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 15.2.1. 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.
15.2.2. 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, watercraftother than as a result of Landlord’s gross negligence or willful misconduct, or other items at and without having accepted a surrender. Tenant's liability to Landlord for damages shall survive the Dock and may use or relet the Slip without accepting a surrender or waiving the right to damagestenancy. Following Landlord may, 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 ▇▇▇▇▇▇construed as an acceptance of a surrender of Tenant's claim to damages or loss of rentals from Lesseeleasehold interest.
(b) Lessor may recover all damages caused by Lessee's default which shall include an amount equal to rentals lost because of the default15.2.3. 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 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 ▇▇▇▇▇▇ 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 is located.
Appears in 1 contract
Sources: Lease (Calypte Biomedical Corp)
Remedies for Default. 11.1. In case of default as described in Section 6 of this leaseParagraph 10 above, Lessor Landlord 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 11.1.1. Terminate this Lease without relieving Tenant from its option terminate the lease by notice obligation to Lesseepay damages.
11.1.2. With or without termination, Lessor may retake Retake possession of the Slip Premises by towing summary proceedings or removing any boatsotherwise, watercraftin which case Tenant's liability to Landlord for damages shall survive the tenancy. Landlord may, 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 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 ▇▇▇▇▇▇'s claim to damages or loss of rentals from LesseePremises upon any reasonable terms.
(b) Lessor may recover all 11.1.3. Recover damages caused by LesseeTenant's default which shall include an amount equal to rentals lost because of the defaultreasonable attorneys' fees at trial and on any appeal therefrom. Lessor Landlord may sue ▇▇▇ periodically to recover damages as they occur throughout the lease term term, and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor Landlord 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 Lease equal to the difference between the rent under this lease Lease and the reasonable rental value of the Slip Premises for the remainder of the term, discounted to the time of judgment at the prevailing interest on judgmentsrate of ten (10%) percent per annum.
(c) Lessor may make 11.1.4. Make any payment or perform any obligation which ▇▇▇▇▇▇ has failed required of Tenant so as to perform cure Tenant's default, in which case Lessor Landlord shall be entitled to recover all amounts so expended from Lessee upon demand all Tenant, plus interest at the rate of ten percent (10%) per annum from the date of the expenditure.
11.2. Landlord shall not be in default unless Landlord fails to perform obligations required of Landlord under this Lease within twenty (20) calendar days after Landlord's receipt of written notice by Tenant specifying wherein Landlord has failed to perform such obligations; provided, however, that if the nature of Landlord's obligation is such that more than twenty (20) calendar days are required for performance, then Landlord shall not be in default if Landlord commences performance within such twenty (20) calendar day period and thereafter diligently prosecutes that same to completion. If Landlord fails to correct a default following such notice, Tenant may make the correction and any amounts so expended, plus interest from the date of the expenditure at the default rate of one-and- one half percent per monthstated in Paragraph 11.1.4, shall be recoverable from Landlord, but Tenant may not have any right to offset such amounts against rent due under this Lease. Any such payment or performance by Lessor This paragraph shall not waive Lesseealso apply to Landlord's defaultfailure to repair as stated in Paragraph 3.2.
Appears in 1 contract
Sources: Lease Agreement (Planar Systems 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 ▇▇▇▇▇▇'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 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 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 ▇▇▇▇▇▇ 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 is located.
Appears in 1 contract
Sources: Office Lease (Nautilus, Inc.)
Remedies for Default. In case of default as described in Section 6 of this lease15, Lessor Landlord 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 Landlord may at its option terminate the lease Lease by notice to LesseeTenant. With or without termination, Lessor Landlord may retake possession of the Slip by towing or removing any boats, watercraft, or other items at the Dock Premises and may use or relet the Slip Premises without accepting a surrender or waiving the right to damages. Following such retaking of possession, efforts by the Lessor Landlord to relet the Slip Premises shall be sufficient if Lessor Landlord follows its usual procedures for finding lessees Tenant's for the Slip space at rates not less than the current rates for other comparable Slips at space in the Dock. If Lessor has other vacant slip(s) at the Dock, prospective Lessees may be placed in such other slip without prejudice to ▇▇▇▇▇▇'s claim to damages or loss of rentals from LesseeBuilding.
(b) Lessor Landlord may recover all damages caused by LesseeTenant's default which shall include an amount equal to rentals lost because of the default, lease commissions paid for this Lease, and the unamortized cost of any tenant improvements installed by Landlord to meet Tenant's special requirements. Lessor Landlord may sue ▇▇▇ periodically to recover damages as they occur throughout the lease term Lease Term, and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor Landlord may elect in Please Initial /s/ Illegible /s/ HW ------------- --------- Landlord Tenant Lease Agreement - 10 any one action to recover accrued damages plus damages attributable to the remaining term of the leaseLease. Such damages shall be measured by the difference between the rent under this lease Lease and the reasonable rental value of the Slip Premises for the remainder of the term, Term discounted to the time of judgment at the prevailing interest rate on judgments.
(c) Lessor Landlord may make any payment or perform any obligation which ▇▇▇▇▇▇ Tenant has failed to perform perform, in which case Lessor Landlord shall be entitled to recover from Lessee Tenant upon demand all amounts so expended, plus interest from the date of the expenditure at the rate of one and one-and- one half percent (1.5%) per month. Any such payment or performance by Lessor Landlord shall not waive LesseeTenant's default.
Appears in 1 contract
Sources: Real Estate Lease (Oregon Baking Co Dba Marsee Baking)
Remedies for Default. In case of default as described in Section 6 of this lease, Lessor paragraph 11.1 Landlord 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 Landlord may at its option terminate the lease by notice to LesseeTenant. With or without termination, Lessor Landlord may retake possession of the Slip by towing or removing any boats, watercraft, or other items at the Dock Premises and may use or relet the Slip Premises without accepting a surrender or waiving the right to damages. Following such retaking of possession, efforts by the Lessor Landlord to relet the Slip Premises shall be sufficient if Lessor Landlord follows its usual procedures 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 Landlord has other vacant slip(s) at space in the DockBuilding, prospective Lessees tenants may be placed in such other slip space without prejudice to ▇▇▇▇▇▇Landlord's claim to damages or loss of rentals from LesseeTenant.
(b) Lessor Landlord may recover all damages caused by LesseeTenant's default which shall include an amount equal to rentals lost because of the default, lease commissions paid for this lease, and the unamortized cost of any tenant improvements installed by Landlord to meet Tenant's special requirements. Lessor Landlord may sue periodically to recover damages as ▇▇ they occur throughout the lease term term, and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor Landlord 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 term, discounted to the time of judgment judgement at the prevailing interest rate on judgmentsjudgements.
(c) Lessor Landlord may make any payment or perform any obligation which ▇▇▇▇▇▇ Tenant has failed to perform perform, in which case Lessor Landlord shall be entitled to recover from Lessee Tenant upon demand all amounts so expended, plus interest from the date of the expenditure at the rate of one-and- one and-one-half percent per month. Any such payment or performance by Lessor Landlord shall not waive LesseeTenant's default.
Appears in 1 contract
Remedies for Default. In case of default as described in Section 6 of this lease, Lessor paragraph 11.1 Landlord 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 Landlord may at its option terminate the lease by notice to LesseeTenant. With or without termination, Lessor Landlord may retake possession of the Slip by towing or removing any boats, watercraft, or other items at the Dock Premises and may use or relet the Slip Premises without accepting a surrender or waiving the right to damages. Following such retaking of possession, efforts by the Lessor Landlord to relet the Slip Premises shall be sufficient if Lessor Landlord follows its usual procedures 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 Landlord has other vacant slip(s) at space in the DockBuilding, prospective Lessees may tenants my be placed in such other slip space without prejudice to ▇▇▇▇▇▇landlord's claim to damages or loss of rentals from LesseeTenant.
(b) Lessor Landlord may recover all damages caused by LesseeTenant's default which shall include an amount equal to rentals lost because of the default, lease commissions paid for this lease, and the unamortized cost of any tenant improvements installed by Landlord to meet Tenant's special requirements. Lessor Landlord may sue ▇▇▇ periodically to recover damages as they occur throughout the lease term term, and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor Landlord 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 term, discounted to the time of judgment at the prevailing interest rate on judgments.
(c) Lessor Landlord may make any payment or perform any obligation which ▇▇▇▇▇▇ Tenant has failed to perform perform, in which case Lessor Landlord shall be entitled to recover from Lessee Tenant upon demand all amounts so expended, plus interest from the date of the expenditure at the rate of one-and- one and-one-half percent per month. Any such payment or performance by Lessor Landlord shall not waive LesseeTenant's default.
Appears in 1 contract
Remedies for Default. In case Upon occurrence of default an Event of Default as described in Section 6 of this lease11.1, Lessor Landlord 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 lawlaw or under this Lease:
(a) Lessor 11.2.1 Landlord may at its option terminate the lease by notice this Lease, without prejudice to Lesseeits right to damages for Tenant's breach. With or without termination, Lessor Landlord may retake possession of the Slip by towing or removing any boats, watercraft, or other items at the Dock Premises and may use or relet the Slip Premises without accepting a surrender or waiving the right to damages. Following such retaking of possession, efforts by the Lessor Landlord to relet the Slip Premises shall be sufficient if Lessor Landlord follows its usual procedures 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 Landlord has other vacant slip(s) at space in the DockBuilding, prospective Lessees tenants may be placed in such other slip space without prejudice to ▇▇▇▇▇▇'s Landlord’s claim to damages or loss of rentals from LesseeTenant.
(b) Lessor 11.2.2 Landlord may recover all damages caused by Lessee's Tenant’s default which that shall include an amount equal to rentals lost because of the default, Lease commissions paid for this Lease, and the unamortized cost of any tenant improvements installed by or paid for by Landlord. Lessor Landlord may sue ▇▇▇ periodically to recover damages as they occur throughout the lease term Lease term, and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor Landlord may elect in any one action to recover accrued damages damages, plus damages attributable to the remaining term of the leaseLease. Such damages shall be measured by the difference between the rent under this lease Lease and the reasonable rental value of the Slip Premises for the remainder of the term, discounted to the time of judgment at the prevailing interest rate on judgments.
(c) Lessor may make any payment or perform any obligation which ▇▇▇▇▇▇ 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: Office Lease
Remedies for Default. In case 23.1 If any default by Lessee continues uncured after receipt of written notice of default and the period to cure as described in Section 6 of required by this leaseLease, Lessor shall have for the right period applicable to the default, the Port has the following remedies which are intended to be cumulative and in addition to any all other rights and remedies provided under applicable law:
(a) Lessor by law or equity to which Port may at its option terminate resort cumulatively or in 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 ▇▇▇▇▇▇'s claim to damages or loss of rentals from Lesseealternative.
(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 23.2 Without terminating this lease and the reasonable rental value of the Slip for the remainder of the termLease, discounted to the time of judgment at the prevailing interest on judgments.
(c) Lessor may make any payment or perform any obligation which ▇▇▇▇▇▇ has failed to perform in which case Lessor Port shall be entitled to recover from Lessee upon demand any amounts due hereunder or any damages arising out of the violation or failure of Lessee to perform any covenant, condition or provision of this Lease.
23.3 Port may elect to terminate this Lease and any and all amounts so expendedinterest and claim of Lessee by virtue of such Lease, plus whether such interest from or claim is existing or prospective, and to terminate all interest of Lessee in the Premises and any improvements or fixtures thereon (except trade fixtures). In the event this Lease is terminated, all obligations and indebtedness of Lessee to Port arising out of this Lease prior to the date of termination shall survive such termination. In the expenditure event of termination by Port, Port shall be entitled to recover immediately as damages the total of the following amounts:
23.3.1 The reasonable costs of re-entry and re-letting, including, but not limited to, any expenses of cleaning, repairing, altering, remodeling or refurbishing the Premises to the condition they were in at the rate outset of onethe Lease, reasonable wear and tear excepted, removing Lessee’s property or any other expenses incurred in recovering possession of the Premises or re-and- one half percent per monthletting the Premises, including, but not limited to, reasonable attorney’s fees, court costs, broker’s commissions and advertising expense.
23.3.2 The loss of rental on the Premises accruing until the date when a new Lessee has been or, with the exercise of reasonable diligence, could have been obtained.
23.4 Port may re-enter the Premises and take possession thereof and remove any persons and property by legal action or by self-help and without liability for damages and Lessee shall indemnify and hold the Port harmless from any claim or demand arising out of such re-entry and removal of persons and property, except for the gross negligence or willful misconduct of the Lessor. Any such payment or performance Such re-entry by Lessor the Port shall not waive Lessee's terminate the Lease or release the Lessee from any obligations under the Lease. In the event Port re-enters the Premises for the purpose of re-letting, Port may re-let all or some portion of the Premises, alone or in conjunction with other properties, for a term longer or shorter than the term of this Lease, upon any reasonable terms and conditions, including the granting’ of a period of rent-free occupancy or other rental concession, and Port may not be required to re-let to any Lessee which Port may reasonably consider objectionable. cure the default. For the cure of any other default, Lessee shall have thirty (30) days after receipt of written notice to cure the default, provided; however, that if it takes more than thirty (30) days to cure a default, the Lessee shall not be in default if it promptly undertakes a cure and diligently pursues it.
Appears in 1 contract
Sources: Lease Agreement (Plasmet Corp)
Remedies for Default. In case 23.1 If any default by Lessee continues uncured after receipt of written notice of default and the period to cure as described in Section 6 of required by this leaseLease, Lessor shall have for the right period applicable to the default, the Port has the following remedies which are intended to be cumulative and in addition to any all other rights and remedies provided under applicable law:
(a) Lessor by law or equity to which Port may at its option terminate resort cumulatively or in 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 ▇▇▇▇▇▇'s claim to damages or loss of rentals from Lesseealternative.
(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 23.2 Without terminating this lease and the reasonable rental value of the Slip for the remainder of the termLease, discounted to the time of judgment at the prevailing interest on judgments.
(c) Lessor may make any payment or perform any obligation which ▇▇▇▇▇▇ has failed to perform in which case Lessor Port shall be entitled to recover from Lessee upon demand any amounts due hereunder or any damages arising out of the violation or failure of Lessee to perform any covenant, condition or provision of this Lease.
23.3 Port may elect to terminate this Lease and any and all amounts so expendedinterest and claim of Lessee by virtue of such Lease, plus whether such interest from or claim is existing or prospective, and to terminate all interest of Lessee in the Premises and any improvements or fixtures thereon (except trade fixtures). In the event this Lease is terminated, all obligations and indebtedness of Lessee to Port arising out of this Lease prior to the date of termination shall survive such termination. In the expenditure event of termination by Port, Port shall be entitled to recover immediately as damages the total of the following amounts:
23.3.1 The reasonable costs of re-entry and re-letting, including, but not limited to, any expenses of cleaning, repairing, altering, remodeling or refurbishing the Premises to the condition they were in at the rate outset of onethe Lease, reasonable wear and tear excepted, removing Lessee’s property or any other expenses incurred in recovering possession of the Premises or re-and- one half percent per monthletting the Premises, including, but not limited to, reasonable attorney’s fees, court costs, broker’s commissions and advertising expense.
23.3.2 The loss of rental on the Premises accruing until the date when a new Lessee has been or, with the exercise of reasonable diligence, could have been obtained.
23.4 Port may re-enter the Premises and take possession thereof and remove any persons and property by legal action or by self-help and without liability for damages and Lessee shall indemnify and hold the Port harmless from any claim or demand arising out of such re-entry and removal of persons and property, except for the gross negligence or willful misconduct of the Lessor. Any such payment or performance Such re-entry by Lessor the Port shall not waive terminate the Lease or release the Lessee from any obligations under the Lease. In the event Port re-enters the Premises for the purpose of re-letting, Port may re-let all or some portion of the Premises, alone or in conjunction with other properties, for a term longer or shorter than the term of this Lease, upon any reasonable terms and conditions, including the granting’ of a period of rent-free occupancy or other rental concession, and Port may not be required to re-let to any Lessee which Port may reasonably consider objectionable.
23.5 In the event Port re-lets the Premises as agent for Lessee's default, Port shall be entitled to recover immediately as damages the total of the following amounts.
23.5.1 An amount equal to the total rental coming due for the remainder of the term of this Lease, computed based upon the periodic rent provided for herein and without discount or reduction for the purpose of adjusting such amount to present value of anticipated future payments, less any payments thereafter applied against such total rent by virtue of the new lease.
23.5.2 The reasonable costs of re-entry and re-letting, including but not limited to, any expense of cleaning, repairing, altering, remodeling, refurbishing, removing Lessee’s property, or any other expenses incurred in recovering possession of the Premises or re-letting the Premises, including, but not limited to, attorneys’ fees, court costs, broker’s commissions and advertising expense.
23.6 All payments received by Port from re-letting shall be applied upon indebtedness and damages owing to Port from Lessee, if any, and the balance shall be remitted to Lessee.
Appears in 1 contract
Sources: Lease Agreement (Plasmet Corp)
Remedies for Default. In case of default as described in Section 6 of this leaseParagraph 10 above, Lessor Landlord 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 11.1. Terminate this Lease without relieving Tenant from its option terminate the lease by notice obligation to Lesseepay damages.
11.2. With or without termination, Lessor may retake Retake possession of the Slip Premises by towing summary proceedings or removing any boatsotherwise, watercraftin which case Tenant's liability to Landlord for damages shall survive the tenancy. Landlord may, 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 ▇▇▇▇▇▇construed as an acceptance of a surrender of Tenant's claim to damages or loss of rentals from Lesseeleasehold interest.
(b) Lessor may recover all 11.3. Recover damages caused by LesseeTenant's default which shall include an amount equal to rentals lost because of the defaultreasonable attorneys' fees at trial and on any appeal therefrom. Lessor Landlord may sue periodically to recover damages as they occur throughout the lease term lea▇▇ term, and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor Landlord 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 Lease equal to the difference between the rent under this lease Lease and the reasonable rental value of the Slip Premises for the remainder of the term, discounted to the time of judgment at the prevailing interest on judgments.rate of six (6%) percent per annum. N-CREDENCE.rtf / SKB / LMH 5Oaks/304, 305 & 306 5/18/98 Page 5 of 12 Hillsboro, OR
(c) Lessor may make 11.4. Make any payment or perform any obligation which ▇▇▇▇▇▇ has failed required of Tenant so as to perform cure Tenant's default, in which case Lessor Landlord shall be entitled to recover from Lessee upon demand all amounts so expendedexpended from Tenant, plus interest at the rate of ten percent (10%) per annum 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 defaultexpenditure.
Appears in 1 contract
Sources: Lease (Credence Systems Corp)
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 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 ▇▇▇▇▇▇'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 ▇▇▇▇▇▇▇▇ has failed shall have the right to perform pursue any one or more of the following remedies in which case Lessor addition to all other rights or remedies provided herein or at law or in equity:
1. Terminate Tenant's right to possession of the Premises and Tenant's rights under this Lease by written notice to Tenant without relieving Tenant from its obligation to pay damages.
2. Re-enter and take possession of the Premises and remove any persons or property 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, after such retaking of possession, relet the Premises upon any reasonable terms. No such reletting shall be construed as an acceptance of a surrender of Tenant's leasehold interest.
3. Except to the extent otherwise provided by applicable law, in the event of termination or retaking of possession following default, 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 expendedas damages:
(i) To the extent allowed by law, plus interest 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) To the extent allowed by law, 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 1 contract
Sources: Office Lease (Nautilus, Inc.)
Remedies for Default. In case If an Event of default as described in Section 6 of this leaseDefault occurs, Lessor Landlord 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 a. Terminate this Lease without relieving Tenant from its option terminate the lease by notice obligation to Lessee. With or without termination, Lessor may retake pay damages.
b. Retake possession of the Slip Premises by towing summary proceedings or removing any boatsotherwise, 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 which case ▇▇▇▇▇▇'s claim liability to Landlord for damages or loss shall survive the tenancy. Landlord may, after such retaking of rentals from Lesseepossession, relet the Premises upon any reasonable terms. No such reletting shall be construed as an acceptance of a surrender of ▇▇▇▇▇▇'s leasehold interest.
(b) Lessor may recover all c. Recover damages caused by Lessee▇▇▇▇▇▇'s default which shall include an amount equal to rentals lost because of the defaultreasonable attorneys' fees at trial and on any appeal therefrom. Lessor Landlord may sue periodically to recover damages as they occur throughout the lease term term, and no action for accrued damages shall bar a later action for damages subsequently accruing. Lessor Landlord 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 Lease equal to the difference between the rent under this lease Lease and the reasonable rental value of the Slip Premises for the remainder of the term, discounted to the time of judgment at the prevailing interest on judgmentsrate of nine (9%) percent per annum.
(c) Lessor may make d. Make any payment or perform any obligation required of Tenant so as to cure Tenant's default, in which case Landlord shall be entitled to recover all amounts so expended from Tenant, plus interest at the rate of nine percent (9%) per annum from the date of the expenditure.
e. Recover reasonable costs of collection and other expenses incurred by Landlord in connection with ▇▇▇▇▇▇ has failed to perform in which case Lessor shall be entitled to recover from Lessee upon demand all amounts so expended▇’s default hereunder, plus interest from the date including reasonable attorneys’ fees, regardless of the expenditure at the rate of one-and- one half percent per month. Any such payment whether or performance by Lessor shall not waive Lessee's defaulta court action is commenced.
Appears in 1 contract
Sources: Lease Agreement