Common use of Consequences of Default Clause in Contracts

Consequences of Default. If and whenever the Landlord is entitled to re-enter the Leased Premises, the Landlord may terminate this Lease and the Term by giving written notice of termination to the Tenant or by posting notice of termination in the Leased Premises, and in such event the Tenant will forthwith vacate and surrender the Leased Premises. Alternatively, the Landlord may from time to time without terminating the Tenant's obligations under this Lease, make alterations and repairs considered by the Landlord necessary to facilitate a sub-letting and sub-let the Leased Premises or any part thereof as agent of the Tenant for such term or terms and at such rent or rents and upon such other terms and conditions as the Landlord in its sole discretion considers advisable. Upon each subletting all rent and other monies received by the Landlord from the sub-letting shall be applied first to the payment of indebtedness other than Rent due hereunder from the Tenant to the Landlord, second to the payment of costs and expenses of the sub-letting including brokerage fees and solicitors fees and the cost of alterations and repairs, and third to the payment of Rent due and unpaid hereunder. The residue, if any, shall be held by the Landlord and applied in payment of future Rent as it becomes due and payable. If the Rent received from the sub-letting during a month and any surplus then held by the Landlord to the credit of the Tenant is less than the Rent to be paid during that month by the Tenant, the Tenant will pay the deficiency to the Landlord. The deficiency will be calculated and paid monthly. No re-entry by the Landlord will be construed as an election on its part to terminate this Lease unless a written notice of that termination is given to the Tenant or posted as aforesaid. Despite a subletting without termination, the Landlord may elect at any time to terminate this Lease for a previous breach. If the Landlord so terminates this Lease, the Tenant shall pay to the Landlord on demand therefor:

Consequences of Default. 38. If and whenever the Landlord Lessor is entitled to re-enter the Leased Premisesdemised premises, or does re-enter the demised premises, the Landlord Lessor may either terminate this Lease and the Term by giving written notice of termination to the Tenant Lessee, or by posting notice of termination in the Leased Premisesdemised premises, and in such event the Tenant Lessee will forthwith vacate and surrender the Leased Premises. Alternativelydemised premises or alternatively, the Landlord Lessor may from time to time without terminating the TenantLessee's obligations obligation under this Lease, make alterations and repairs considered by the Landlord Lessor necessary to facilitate a sub-letting and sub-let the Leased Premises demised premises or any part thereof as agent of the Tenant Lessee for such term or terms and at such rent or rents and upon such other terms and conditions as the Landlord Lessor in its sole reasonable discretion considers advisable. Upon each subletting sub-letting all rent and other monies received by the Landlord Lessor from the sub-letting shall will be applied first to the payment of indebtedness other than Rent rent due hereunder from the Tenant Lessee to the LandlordLessor, second to the payment of costs and expenses of the sub-letting including brokerage fees and solicitors fees and the cost of alterations and repairs, and third to the payment of Rent rent due and unpaid hereunder. The residue, if any, shall will be held by the Landlord Lessor and applied in payment of future Rent rent as it becomes due and payable. If the Rent rent received from the sub-letting during a month and any surplus then held by the Landlord to the credit of the Tenant is less than the Rent rent to be paid during that month by the TenantLessee, the Tenant Lessee will pay the deficiency to the Landlord. The Lessor, the deficiency will be calculated and paid monthly. No re-entry by the Landlord Lessor will be construed as an election on its part to terminate this Lease unless a written notice of that termination intention is given to the Tenant Lessee or posted as aforesaid. Despite a subletting sub-letting without termination, the Landlord Lessor may elect at any time to terminate this Lease for a previous breach. If the Landlord so Lessor re-enters the premises or terminates this LeaseLease for any breach, the Tenant shall Lessee will pay to the Landlord Lessor on demand therefortherefore:

Consequences of Default. If a default occurs, Landlord may, at its option, reenter the Premises without terminating the Lease, relet the Premises on Tenant’s behalf; and whenever Tenant shall be responsible for the payment of any deficiency in the rent received by Landlord is entitled in accordance with the Lease, as well as all costs relating to recovery and reletting the Premises, including all leasing commissions, reasonable legal fees and costs plus all actual damages, but if Landlord does not relet the Premises Tenant shall continue to be responsible for the full payment of rentals in accordance with the Lease. In addition, Tenant shall be liable for (i) the unamortized portion of brokerage commissions paid in connection with this Lease; (ii) the unamortized portion of the improvement allowance or the cost of the improvements made by Landlord, if any; and (iii) the unamortized portion of any rent abated pursuant to this Lease. Landlord shall not be required to serve further notice or resort to legal process prior to exercising its right of re-enter entry, and Tenant waives any available rights of redemption. Landlord shall also have the Leased Premises, the Landlord may right to terminate this Lease and the Term by giving written notice recover damages, even if Landlord has previously exercised its right of termination re-entry. If Landlord elects to terminate, Landlord shall be entitled to liquidated damages in an amount equal to: (i) all sums owing hereunder up to the Tenant or by posting notice date of termination termination; (ii) the unamortized portion of brokerage commissions paid in the Leased Premises, and in such event the Tenant will forthwith vacate and surrender the Leased Premises. Alternatively, the Landlord may from time to time without terminating the Tenant's obligations under connection with this Lease, make alterations and repairs considered by ; (iii) the Landlord necessary to facilitate a sub-letting and sub-let the Leased Premises or any part thereof as agent unamortized portion of the Tenant for such term improvement allowance or terms and at such rent or rents and upon such other terms and conditions as the Landlord in its sole discretion considers advisable. Upon each subletting all rent and other monies received by the Landlord from the sub-letting shall be applied first to the payment of indebtedness other than Rent due hereunder from the Tenant to the Landlord, second to the payment of costs and expenses of the sub-letting including brokerage fees and solicitors fees and the cost of alterations and repairs, and third to the payment of Rent due and unpaid hereunder. The residueimprovements made by Landlord, if any; (iv) the unamortized portion of any rent abated pursuant to this Lease and (v) accelerated rent discounted to present value using an interest rate of ten percent (10%), provided that Landlord will forward to Tenant any net rentals received on reletting the Premises as they are received, provided that Landlord shall incur no liability, and Tenant’s obligations hereunder shall not be held diminished, by the Landlord and applied in payment virtue of future Rent as it becomes due and payable. If the Rent received from the sub-letting during a month and any surplus then held by the Landlord Landlord’s failure to the credit of the Tenant is less than the Rent to be paid during that month by the Tenant, the Tenant will pay the deficiency to the Landlordrelet. The deficiency will be calculated and paid monthly. No re-entry by the Landlord will be construed as an election on its part foregoing remedies are in addition to terminate this Lease unless a written notice of that termination is given to the Tenant any other remedies available hereunder or posted as aforesaid. Despite a subletting without termination, the Landlord may elect at any time to terminate this Lease for a previous breach. If the Landlord so terminates this Lease, the Tenant shall pay to the Landlord on demand therefor:law.

Consequences of Default. If and whenever the Landlord is entitled to re-enter the Leased Demised Premises, or does re-enter the Demised Premises, the Landlord may either terminate this Lease and the Term by giving written notice of termination to the Tenant Tenant, or by posting notice of termination in the Leased Demised Premises, and in such event the Tenant will forthwith vacate and surrender the Leased Premises. AlternativelyDemised Premises or alternatively, the Landlord may from time to time without terminating the Tenant's obligations under this Lease, make alterations and repairs considered by the Landlord necessary to facilitate a sub-letting and sub-let the Leased Demised Premises or any part thereof as agent of the Tenant for such term or terms and at such rent or rents and upon such other terms and conditions as the Landlord in its sole reasonable discretion considers advisable. Upon each subletting sub-letting all rent Rent and other monies received by the Landlord from the sub-letting shall will be applied first to the payment of indebtedness other than Rent due hereunder from the Tenant to the Landlord, second to the payment of costs and expenses of the sub-letting including brokerage fees and solicitors solicitors' fees and costs of the cost of alterations alteration and repairs, and third to the payment of Rent due and unpaid hereunder. The residue, if any, shall will be held by the Landlord and applied in payment of future Rent as it becomes due and payable. If the Rent received from the sub-letting during a month and any surplus then held by the Landlord to the credit of the Tenant is less than the Rent to be paid during that month by the Tenant, the Tenant will pay the deficiency to the Landlord. The deficiency will be calculated and paid monthly. No re-entry by the Landlord will be construed as an election on its part to terminate this Lease unless a written notice of that termination intention is given to the Tenant or posted as aforesaid. Despite a subletting sub-letting without termination, the Landlord may elect at any time to terminate this Lease for a previous breach. If the Landlord so terminates this LeaseLease for any breach, the Tenant shall will pay to the Landlord on demand therefor:therefore;

Consequences of Default. 38 If and whenever the Landlord Lessor is entitled to re-enter the Leased Premisesdemised premises, or does re-enter the demised premises, the Landlord Lessor may either terminate this Lease and the Term by giving written notice of termination to the Tenant Lessee, or by posting notice of termination in the Leased Premisesdemised premises, and in such event the Tenant Lessee will forthwith vacate and surrender the Leased Premises. Alternativelydemised premises or alternatively, the Landlord Lessor may from time to time without terminating the TenantLessee's obligations obligation under this Lease, make alterations and repairs considered by the Landlord Lessor necessary to facilitate a sub-letting and sub-let the Leased Premises demised premises or any part thereof as agent of the Tenant Lessee for such term or terms and at such rent or rents and upon such other terms and conditions as the Landlord Lessor in its sole reasonable discretion considers advisable. Upon each subletting sub-letting all rent and other monies received by the Landlord Lessor from the sub-letting shall will be applied first to the payment of indebtedness other than Rent rent due hereunder from the Tenant Lessee to the LandlordLessor, second to the payment of costs and expenses of the sub-letting including brokerage fees and solicitors fees and the cost of alterations and repairs, and third to the payment of Rent rent due and unpaid hereunder. The residue, if any, shall will be held by the Landlord Lessor and applied in payment of future Rent rent as it becomes due and payable. If the Rent rent received from the sub-letting during a month and any surplus then held by the Landlord to the credit of the Tenant is less than the Rent rent to be paid during that month by the TenantLessee, the Tenant Lessee will pay the deficiency to the Landlord. The Lessor, the deficiency will be calculated and paid monthly. No re-entry by the Landlord Lessor will be construed as an election on its part to terminate this Lease unless a written notice of that termination intention is given to the Tenant Lessee or posted as aforesaid. Despite a subletting sub-letting without termination, the Landlord Lessor may elect at any time to terminate this Lease for a previous breach. If the Landlord so Lessor re-enters the premises or terminates this LeaseLease for any breach, the Tenant shall Lessee will pay to the Landlord Lessor on demand therefortherefore:

Consequences of Default. If and whenever the Landlord is entitled to re-enter the Leased Premises, the Landlord may terminate this Lease and the Term by giving written notice of termination to the Tenant or by posting notice of termination in the Leased Premises, and in such event the Tenant will forthwith vacate and surrender the Leased Premises. Alternatively, the Landlord may from time to time without terminating the Tenant's ’s obligations under this Lease, make alterations and repairs considered by the Landlord necessary to facilitate a sub-letting and sub-let the Leased Premises or any part thereof as agent of the Tenant for such term or terms and at such rent or rents and upon such other terms and conditions as the Landlord in its sole discretion considers advisable. Upon each subletting all rent and other monies received by the Landlord from the sub-letting shall be applied first to the payment of indebtedness other than Rent due hereunder from the Tenant to the Landlord, second to the payment of costs and expenses of the sub-letting including brokerage fees and solicitors fees and the cost of alterations and repairs, and third to the payment of Rent due and unpaid hereunder. The residue, if any, shall be held by the Landlord and applied in payment of future Rent as it becomes due and payable. If the Rent received from the sub-letting during a month and any surplus then held by the Landlord to the credit of the Tenant is less than the Rent to be paid during that month by the Tenant, the Tenant will pay the deficiency to the Landlord. The deficiency will be calculated and paid monthly. No re-entry by the Landlord will be construed as an election on its part to terminate this Lease unless a written notice of that termination is given to the Tenant or posted as aforesaid. Despite a subletting without termination, the Landlord may elect at any time to terminate this Lease for a previous breach. If the Landlord so terminates this Lease, the Tenant shall pay to the Landlord on demand therefor:

Consequences of Default. If and whenever the Landlord University is entitled to re-enter the Leased Demised Premises, or does re-enter the Demised Premises, the Landlord University may either terminate this Lease and the Term by giving written notice of termination to the Tenant Tenant, or by posting notice of termination in the Leased Demised Premises, and in such event the Tenant will forthwith vacate and surrender the Leased Premises. AlternativelyDemised Premises or alternatively, the Landlord University may from time to time without terminating the Tenant's obligations under this Lease, make alterations and repairs considered by the Landlord University necessary to facilitate a sub-letting and sub-let subplot the Leased Premises demised premises or any part thereof as agent of the Tenant for such term or terms and at such rent or rents and upon such other terms and conditions as the Landlord University in its sole reasonable discretion considers advisable. Upon each subletting sub-letting all rent and other monies received by the Landlord University from the sub-letting shall will be applied first to the payment of indebtedness other than Rent rent due hereunder from the Tenant to the LandlordUniversity, second to the payment of costs and expenses of the sub-letting including brokerage fees and solicitors solicitors' fees and costs of the cost of alterations and repairs, and third to the payment of Rent rent due and unpaid hereunder. The residue, if any, shall will be held by the Landlord University and applied in payment of future Rent rent as it becomes due and payable. If the Rent rent received from the sub-letting during a month and any surplus then held by the Landlord to the credit of the Tenant is less than the Rent rent to be paid during that month by the Tenant, ,. the Tenant will pay the deficiency to the LandlordUniversity. The deficiency will be calculated and paid monthly. No re-entry by the Landlord University will be construed as an election on its part to terminate this Lease unless a written notice of that termination intention is given to the Tenant or posted as aforesaid. Despite a subletting sub-letting without termination, the Landlord University may elect at any time to terminate this Lease lease for a previous breach. If the Landlord so University terminates this LeaseLease for any breach, such termination shall be without prejudice to the University's right to recover from the Tenant shall pay to the Landlord on demand therefor:for past, present and prospective damages.

Consequences of Default. If and whenever the Landlord Tenant is entitled to re-enter the Leased Premisesin default under this Lease, the Landlord may terminate this Lease and the Term by giving written notice of termination to the Tenant or by posting notice of termination in the Leased Premises, and in such event the Tenant will forthwith vacate and surrender the Leased Premises. Alternatively, the Landlord may from time to time without terminating the Tenant's obligations under this Lease, re-enter the Leased Premises, make alterations and repairs considered by the Landlord necessary to facilitate a sub-letting and sub-let the Leased Premises or any part thereof as agent of the Tenant for such term or terms and at such rent or rents and upon such other terms and conditions as the Landlord in its sole discretion considers advisable. Upon each subletting all rent and other monies received by the Landlord from the sub-letting shall be applied first to the payment of indebtedness other than Rent due hereunder from the Tenant to the Landlord, second to the payment of costs and expenses of the sub-letting including brokerage fees and solicitors attorneys fees and the cost of alterations and repairs, and third to the payment of Rent due and unpaid hereunder. The residue, if any, shall be held by the Landlord and applied in payment of future Rent as it becomes due and payable. , If the Rent received from the sub-letting subletting during a month and any surplus then held by the Landlord to the credit of the Tenant is less than the Rent to be paid during that month by the Tenant, the Tenant will pay the deficiency to the Landlord. The deficiency will be calculated and paid monthly. No re-entry by the Landlord will be construed as an election on its part to terminate this Lease unless a written notice of that termination is given to the Tenant or posted as aforesaid. Despite a subletting without termination, the Landlord may elect at any time to terminate this Lease for a previous breach. If the Landlord so terminates this Lease, the Tenant shall pay to the Landlord on demand therefor:

Consequences of Default. If and whenever The Tenant shall indemnify the Landlord is entitled to re-enter the Leased Premises, against all loss of rent and other payments which the Landlord may terminate incur by reason of such termination during the residue of the Term. If the Tenant shall default, after applicable notice thereof, in the observance or performance of any conditions or covenants on Tenant's part to be observed or performed under or by virtue of any of the provisions in any provision of this Lease, the Landlord, without being under any obligation to do so and without thereby waiving such default, may remedy such default for the account and at the expense of the Tenant. If the Landlord makes any expenditures or incurs any obligations for the payment of money in connection therewith, including but not limited to, reasonable attorney's fees, shall be paid to the Landlord by the Tenant as Additional Rent. Tenant further covenants and agrees, notwithstanding any entry or re-entry by Landlord or the termination of this Lease, whether by summary proceedings or otherwise, that all Rent and other charges due under this Lease shall be accelerated and shall be immediately due and payable in full. For purposes of calculating the Annual Percentage Rent that would have become due for the remainder of the Term, the highest Quarterly Percentage Rent amount paid during the preceding thirty-six (36) months shall be annualized and used as the Annual Percentage Rent amount. In the event the Premises are relet by Landlord (which right Landlord shall have at its sole election without an obligation to relet), Tenant shall be entitled to a credit in the net amount of rent and other charges received by Landlord in reletting, after deduction of all reasonable expenses incurred in reletting the Premises (including, without limitation, remodeling costs, brokerage fees, attorneys' fees and the Term by giving written notice of termination to the Tenant or by posting notice of termination in the Leased Premiseslike), and in collecting the rent in connection therewith, in the following manner: Amounts received by Landlord after reletting shall first be applied against such event Landlord's reasonable expenses, until the same are recovered, and until such recovery, Tenant will forthwith vacate and surrender the Leased Premises. Alternativelyshall pay, the Landlord may from time to time without terminating the Tenant's obligations as of each day when a payment would fall due under this Lease, make alterations the full amount thereof (Tenant's liability prior to any such reletting and repairs considered by the Landlord necessary such recovery not in any way to facilitate be diminished as a sub-letting and sub-let the Leased Premises or any part thereof as agent result of the fact that such reletting might be for a rent higher than the rent provided for in this Lease); when and if such expenses have been completely recovered, the amounts received from reletting by Landlord as have not previously been applied shall be credited against Tenant's obligations as of each day when a payment would fall due under this Lease, and only the net amount thereof shall be payable by Tenant. Further, amounts received by Landlord from such reletting for any period shall be credited only against obligations of Tenant accruing subsequent or prior to such period; nor shall any credit of any kind be due for such term any period after the date when the Term of this Lease is scheduled to expire according to its Term. Without limiting any of Landlord's rights and remedies hereunder, and in addition to all other amounts Tenant is otherwise obligated to pay, it is expressly agreed that Landlord shall be entitled to recover from Tenant all reasonable costs and expenses, including attorneys' fees, incurred by Landlord in enforcing this Lease from and after Tenant's default. Notwithstanding anything contained herein to the contrary, Tenant expressly acknowledges the Landlord's right to show and rent other space in the Building prior to showing or terms letting Tenant's space, and at such rent or rents and that Landlord is under no obligation to let Tenant's space upon such other terms and conditions as different from that proposed for other space in the Landlord in its sole discretion considers advisable. Upon each subletting all rent and other monies received by the Landlord from the sub-letting shall be applied first to the payment of indebtedness other than Rent due hereunder from the Tenant to the Landlord, second to the payment of costs and expenses of the sub-letting including brokerage fees and solicitors fees and the cost of alterations and repairs, and third to the payment of Rent due and unpaid hereunder. The residue, if any, shall be held by the Landlord and applied in payment of future Rent as it becomes due and payable. If the Rent received from the sub-letting during a month and any surplus then held by the Landlord to the credit of the Tenant is less than the Rent to be paid during that month by the Tenant, the Tenant will pay the deficiency to the Landlord. The deficiency will be calculated and paid monthly. No re-entry by the Landlord will be construed as an election on its part to terminate this Lease unless a written notice of that termination is given to the Tenant or posted as aforesaid. Despite a subletting without termination, the Landlord may elect at any time to terminate this Lease for a previous breach. If the Landlord so terminates this Lease, the Tenant shall pay to the Landlord on demand therefor:Building.

Consequences of Default. If and whenever the Landlord is entitled to re-enter the Leased Premises, the Landlord may terminate this Lease and the Term by giving written notice of termination to the Tenant or by posting notice of termination in the Leased Premises, and in such event the Tenant will forthwith vacate and surrender the Leased Premises. Alternatively, the Landlord may from time to time without terminating the Tenant's obligations under this Lease, make alterations and repairs considered by the Landlord necessary to facilitate a sub-letting and sub-let the Leased Premises or any part thereof as agent of the Tenant for such term or terms and at such rent or rents and upon such other terms and conditions as the Landlord in its sole discretion considers advisable. Upon each subletting all rent and other monies received by the Landlord from the sub-letting shall be applied first to the payment of indebtedness other than Rent due hereunder from the Tenant to the Landlord, second to the payment of costs and expenses of the sub-letting including brokerage fees and solicitors fees and the cost of alterations and repairs, and third to the payment of Rent due and unpaid hereunder. The residue, if any, shall be held by the Landlord and applied in payment of future Rent as it becomes due and payable. If the Rent received from the sub-letting subletting during a month and any surplus then held by the Landlord to the credit of the Tenant is less than the Rent to be paid during that month by the Tenant, the Tenant will pay the deficiency to the Landlord. The deficiency will be calculated and paid monthly. No re-entry by the Landlord will be construed as an election on its part to terminate this Lease unless a written notice of that termination is given to the Tenant or posted as aforesaid. Despite a subletting without termination, the Landlord may elect at any time to terminate this Lease for a previous breach. If the Landlord so terminates this Lease, the Tenant shall pay to the Landlord on demand therefor:

Consequences of Default. If and whenever the Landlord is entitled to re-enter the Leased Premises, the Landlord may terminate this Lease and the Term by giving written notice of termination to the Tenant or by posting notice of termination in the Leased Premises, and in such event the Tenant will forthwith vacate and surrender the Leased Premises. Alternatively, the Landlord may from time to time without terminating the Tenant's obligations under this Lease, make alterations and repairs considered by the Landlord necessary to facilitate a sub-letting subletting and sub-let sublet the Leased Premises or any part thereof as agent of the Tenant for such term or terms and at such rent or rents and upon such other terms and conditions as the Landlord in its sole discretion considers advisable. Upon each subletting all rent and other monies received by the Landlord from the sub-letting subletting shall be applied applied, first to the payment of indebtedness other than Rent due hereunder from the Tenant to the Landlord, second to the payment of costs and expenses of the sub-letting subletting including brokerage fees and solicitors fees and the cost of alterations and repairs, and third to the payment of Rent due and unpaid hereunder. The residue, if any, shall be held by the Landlord and applied in payment of future Rent as it becomes due and payable. If the Rent received from the sub-letting subletting during a month and any surplus then held by the Landlord to the credit of the Tenant is less than the Rent to be paid during that month by the Tenant, the Tenant will pay the deficiency to the Landlord. The deficiency will be calculated and paid monthly. No re-entry by the Landlord will be construed as an election on its part to terminate this Lease unless a written notice of that termination is given to the Tenant or posted as aforesaid. Despite a subletting without termination, the Landlord may elect at any time to terminate this Lease for a previous breach. If the Landlord so terminates this Lease, the Tenant shall pay to the Landlord on demand therefor: