Common use of Additional Rent and Charges Clause in Contracts

Additional Rent and Charges. (a) If the Lessee shall fail or refuse to perform any of its obligations under this Agreement after notice and the expiration of any applicable cure period for any reason other than due to causes or conditions beyond the control of the Lessee, the Port Authority, in addition to all other remedies available to it, shall have the right (but shall not be obligated to) to perform any of the same after ten (10) days' notice to the Lessee, except in the case of an emergency, in which event the Port Authority shall give such oral notice as may be practicable, and the Lessee shall pay the Port Authority's cost thereof within thirty (30) days after demand therefor, provided, however, that if the Lessee has actually commenced to perform the obligation set forth in the Port Authority's notice prior to the date the Port Authority enters the premises to perform the same and diligently continues to completion the performance of such obligation, the Port Authority shall not perform the same and the Lessee shall pay to the Port Authority its costs incurred in connection with the intended performance of such obligation within thirty (30) days after demand therefor. If the Lessee fails to continue to completion the performance of such obligation, the Port Authority shall have the right to immediately perform or to complete the performance of the same without any further or additional notice. If the Port Authority has paid any sum or sums or has incurred any obligations, expense or cost which the Lessee has agreed to pay or reimburse the Port Authority for, or if the Port Authority is required or elects to pay any sum or sums or incurs any obligations, expense or cost by reason of the failure, neglect or refusal of the Lessee to perform or fulfill any one or more of the conditions, covenants or agreements contained in this Agreement, after the giving of any required notice by the Port Authority and the expiration of any applicable cure period, or as a result of an act or omission of the Lessee contrary to the said conditions, covenants and agreements, including any legal expense or cost in connection with any actions or proceeding brought by the Port Authority against the Lessee (provided that the Port Authority is successful in said action or proceeding against the Lessee) or by third parties against the Port Authority, the Lessee agrees to pay the sum or sums so paid or the expense and the Port Authority's cost so incurred, including all interest costs, damages and penalties, and the same may be added to any installment of rent thereafter due hereunder and each and every part of the same shall be and become additional rent, recoverable by the Port Authority in the same manner and with like remedies as if it were originally a part of the basic rental as set forth in Section 4 of this Agreement entitled "Rental".

Appears in 1 contract

Samples: Credit Suisse First Boston Usa Inc

AutoNDA by SimpleDocs

Additional Rent and Charges. (a) If the Lessee shall fail or refuse to perform any of its obligations under this Agreement after notice and the expiration of any applicable cure period for any reason other than due to causes or conditions beyond the control of the LesseeAgreement, the Port Authority, in addition to all other remedies available to it, shall have the right (but shall not be obligated to) to perform any of the same after ten (10) days' notice to the Lessee, except in the case of an emergency, in which event the Port Authority shall give such oral notice as may be practicable, and the Lessee shall pay the Port Authority's cost thereof within thirty (30) days after demand therefor, provided, however, that if the Lessee has actually commenced to perform the obligation set forth in the Port Authority's notice prior to the date the Port Authority enters the premises to perform the same and diligently continues to completion the performance of such obligation, the Port Authority shall not perform the same and the Lessee shall pay to the Port Authority its costs incurred in connection with the intended performance of such obligation within thirty (30) days after demand therefor. If the Lessee fails to continue to completion the performance of such obligation, the Port Authority shall have the right to immediately perform or to complete the performance of the same without any further or additional noticeon demand. If the Port Authority has paid any sum or sums or has incurred any obligations, expense or cost which the Lessee has agreed to pay or reimburse the Port Authority for, or if the Port Authority is required or elects to pay any sum or sums or incurs any obligations, expense or cost by reason of the failure, neglect or refusal of the Lessee to perform or fulfill any one or more of the conditions, covenants or agreements contained in this Agreement, after the giving of any required notice by the Port Authority and the expiration of any applicable cure period, or as a result of an act or omission of the Lessee contrary to the said conditions, covenants and agreements, including any legal expense or cost in connection with any actions or proceeding brought by the Port Authority against the Lessee (provided that the Port Authority is successful in said action or proceeding against the Lessee) or by third parties against the Port Authority, the Lessee agrees to pay the sum or sums so paid or the expense and the Port Authority's cost so incurred, including all interest costs, damages and penalties, and the same may be added to any installment of rent thereafter due hereunder and each and every part of the same shall be and become additional rent, recoverable by the Port Authority in the same manner and with like remedies as if it were originally a part of the basic rental as set forth in the Section 4 of this Agreement entitled "Basic Rental". (b) "Cost" or "costs" of the Port Authority in this Agreement shall mean and include (1) payroll costs including but not limited to contributions to the retirement system, or the cost or participation in other pension plans or systems, insurance costs, sick leave pay, holiday, vacation, authorized absence pay or other fringe benefits; (2) cost of materials, supplies and equipment used (including rental thereof); (3) payments to contractors; (4) any other direct costs; and (5) 30% of the foregoing. SECTION 16.

Appears in 1 contract

Samples: Lease Agreement (Globus International Resources Corp)

AutoNDA by SimpleDocs

Additional Rent and Charges. (a) If the Lessee shall fail or refuse to perform any of its obligations under this Agreement (including, without limitation, any act or negligent omission contrary to such obligation) after notice and the expiration of any applicable cure period for any reason other than due (provided that if no notice or grace period is expressly set forth in this Agreement, thirty (30) days shall be deemed to causes or conditions beyond be the control applicable notice and grace period except in case of emergency in which case the Lessee, Port Authority shall give such notice as is practicable) the Port Authority, in addition to all other remedies available to it, shall have the right (but shall not be obligated to) to perform any of the same after ten (10) days' notice to the Lesseenotice, except in the case of an emergency, in which event the Port Authority shall give such oral notice as may be practicable, practicable and the Lessee shall pay the Port Authority's cost thereof within thirty (30) days after demand therefor, provided, however, that if the Lessee has actually commenced to perform the obligation obligations set forth in the Port Authority's notice prior to the date the Port Authority enters the premises to perform the same and diligently continues to completion the performance of such obligationobligation (subject to causes and conditions beyond the control of the Port Authority), the Port Authority shall not perform the same and and, provided, further, however, that if the Lessee shall pay has diligently commenced to the Port Authority perform whatever may be required to fulfill its costs incurred in connection with the intended performance of obligation under this Agreement and such obligation is not capable of being cured with diligent performance within said thirty (30) days after demand therefor. If day grace period then such thirty (30) day period shall be extended until the Lessee fails has fulfilled such obligation provided the Lessee diligently continues such performance until such fulfillment subject to continue to completion the performance of such obligation, the Port Authority shall have the right to immediately perform or to complete the performance of the same without any further or additional noticecauses and conditions beyond its control. If the Port Authority has paid any sum or sums or has incurred any obligations, expense or cost which the Lessee has expressly agreed to pay or reimburse the Port Authority for, or if the Port Authority is required or elects to pay any sum or sums or incurs any obligations, expense or cost pursuant to this paragraph (a) by reason of the failure, neglect or refusal of the Lessee to perform or fulfill any one or more of the conditions, covenants or agreements contained in this Agreement, after the giving of any required notice by the Port Authority and the expiration of any applicable cure period, including reasonable legal expenses or as a result of an act or omission of the Lessee contrary to the said conditions, covenants and agreements, including any legal expense or cost costs in connection with any actions or proceeding brought by the Port Authority against the Lessee (provided that the Port Authority is successful in said action or proceeding against the Lessee) or by third parties against the Port Authority, the Lessee agrees to pay the sum or sums so paid or the expense and the Port Authority's cost so incurred, including all interest costs, damages and penalties, and the same may be added to any installment of rent thereafter due hereunder and each and every part of the same shall be and become additional rent, recoverable by the Port Authority in the same manner and with like remedies as if it were originally a part of the basic rental as set forth in the Section 4 of this Agreement entitled "Basic Rental".

Appears in 1 contract

Samples: KBW Inc

Time is Money Join Law Insider Premium to draft better contracts faster.